(a) An appointment is required to be made in accordance with this section when one or more of the following has occurred:
Terms Used In Alaska Statutes 21.27.100
Contract: A legal written agreement that becomes binding when signed.
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(1) an admitted insurer appoints a managing general agent in this state or relative to a subject resident, located, or to be performed in this state;(2) a managing general agent appoints an insurance producer as its subagent in this state or relative to subjects resident, located, or to be performed in this state;(3) a domestic reinsurer appoints a reinsurance intermediary manager;(4) a reinsurance intermediary manager appoints an insurance producer as its subagent in this state.(b) An admitted insurer shall appoint an insurance producer as its agent in this state or relative to a subject resident, located, or to be performed in this state not later than 30 days after the date that a written agency contract is executed or the first insurance application is submitted to the admitted insurer by the licensed insurance producer.(c) An individual who has entered into an employment contract with a licensed firm that is appointed as an agent or a managing general agent on behalf of an admitted insurer under this section may not be required to also have an appointment under this section if the individual has entered into an employment contract with that firm for a specific class of authority.(d) The authorized or apparently authorized acts on behalf of an appointing insurer of an insurance producer appointed under this section are considered the acts of that insurer.(e) An insurer and managing general agent shall maintain a current list of all appointments made or required to be made under this section that identifies the licensee’s name, licensee’s mailing address, license number, and effective date of appointment.(f) An insurance producer shall maintain a list of all appointments made or required to be made under this section that identifies the insurer’s name, insurer’s mailing address, and effective date of appointment.(g) An insurer, managing general agent, or insurance producer shall reply in writing within three working days to an inquiry of the director regarding an appointment.
