Alaska Statutes 42.06.280 – Insurance and security
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 42.06.280
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- property: includes real and personal property. See Alaska Statutes 01.10.060
- 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
The commission may require a lessee to procure and furnish liability and property damage insurance from a company licensed to do business in the state or furnish other security or undertaking upon the terms and conditions the commission considers necessary if the commission finds that the net assets of the lessee are insufficient to protect the public from damage for which the lessee may be liable arising out of the construction or operation of the pipeline.