Alaska Statutes 21.27.270 – Licensing of nonresidents

(a) In accordance with P.L. 106-102 (Gramm-Leach-Bliley Act), the director shall issue a license to a nonresident license applicant on terms that are reciprocal with those of the applicant’s home state. Notwithstanding any contrary provision of this chapter, the director may by order waive any license application requirement in this chapter to achieve reciprocity to license a nonresident in accordance with P.L. 106-102 (Gramm-Leach-Bliley Act).

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Terms Used In Alaska Statutes 21.27.270

action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
Fiduciary: A trustee, executor, or administrator.
peace officer: means
(A) an officer of the state troopers. See Alaska Statutes 01.10.060
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
Plaintiff: The person who files the complaint in a civil lawsuit.
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
Service of process: The service of writs or summonses to the appropriate party.
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
Statute: A law passed by a legislature.

(b) Unless the director denies or refuses to renew a license under Alaska Stat. § 21.27.410, the director shall issue a nonresident producer, limited lines, surplus lines broker, managing general agent, reinsurance intermediary broker, or reinsurance intermediary manager license to a person who is not a resident of this state if

(1) the person is currently licensed and is in good standing in the person’s home state; the director may verify the person’s licensing status through the producer licensing database records maintained by the National Association of Insurance Commissioners or its affiliates or subsidiaries;

(2) the person has paid the fees required under Alaska Stat. § 21.06.250 and has submitted to the director

(A) the license application the person submitted to the person’s home state; or

(B) if the person is not a firm, a completed uniform application or, if a firm, the uniform business entity application; and

(3) the person’s home state awards nonresident producer, limited lines, surplus lines, managing general agent, reinsurance intermediary broker, and reinsurance intermediary manager licenses to residents of this state on the same basis as does this state.

(c) Notwithstanding (b) of this section, the director may require a person applying for a

(1) nonresident license to furnish the person’s fingerprints as required of a person applying for a license under Alaska Stat. § 21.27.040(e);

(2) surplus lines broker license under this section to have, and maintain while licensed in this state, the bond required of a person applying for a license under Alaska Stat. § 21.27.790(2); and

(3) nonresident license to comply with the premium fiduciary account requirements of Alaska Stat. § 21.27.360 and the regulations adopted under that statute.

(d) A person licensed as a limited lines producer in the person’s home state shall receive a nonresident limited lines producer license granting the same scope of authority as the license issued by the producer’s home state.

(e) In addition to the other requirements of this chapter, a person may not be licensed as a nonresident licensee until the person files a power of attorney as follows:

(1) an applicant shall appoint the director as attorney to receive service of legal process issued against the licensee in this state upon a cause of action arising in this state or relative to a subject resident, located, or to be performed in this state; service upon the director as attorney shall constitute effective legal service upon the licensee; and

(2) the appointment shall be irrevocable for as long as there could be a cause of action against the licensee arising out of an insurance transaction in this state or relative to a subject resident, located, or to be performed in this state.

(f) Duplicate copies of legal process against a licensed or formerly licensed nonresident licensee shall be served upon the director either by a peace officer or through certified mail with return receipt requested. At the time of service, the plaintiff shall pay to the director a fee set under Alaska Stat. § 21.06.250.

(g) Upon receiving a service of process, the director shall immediately send one of the copies of the process by certified mail, return receipt requested, to the licensed or formerly licensed nonresident licensee at the last address of record filed with the director.

(h) A nonresident applicant for an independent adjuster license who only adjusts claims related to portable electronics insurance under Alaska Stat. § 21.36.515 and who is licensed as an independent adjuster and in good standing in the applicant’s home state does not have to meet the requirements of Alaska Stat. § 21.27.060 or 21.27.830 to be licensed under this section. A resident of Canada may not be licensed as an independent adjuster under this section unless the applicant has obtained a resident independent adjuster license in another state or declared another state the applicant’s home state and obtained an independent adjuster license in that state.

(i) If a nonresident independent portable electronics adjuster applicant’s home state does not license independent adjusters, the independent portable electronics adjuster applicant may designate the applicant’s home state as any state in which the applicant is licensed in good standing.

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