Alaska Stat. § 06.40.150
This is the official text of Alaska Stat. § 06.40.150, part of Alaska’s Stat — part of the compiled statutory law of Alaska, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Return of unearned premiums.
Official statutory text
(a) If a financed insurance policy is cancelled, and provided the insurer has been notified of the assignment of interest of the insured to the licensee, the insurer shall, within 60 days after the effective date of cancellation, take the steps that are necessary to have any gross unearned premiums that are due under the insurance policy returned to the licensee for the account of the borrower if the licensee has complied with the notice provisions of AS 06.40.140 (b).
(b) If the crediting of return premiums to the account of the borrower results in a surplus over the amount due from the borrower, the licensee shall refund the excess to the borrower; however, a refund is not required if it amounts to less than $1.
Article 3. General Provisions.
(b) If the crediting of return premiums to the account of the borrower results in a surplus over the amount due from the borrower, the licensee shall refund the excess to the borrower; however, a refund is not required if it amounts to less than $1.
Article 3. General Provisions.
Status: in_force · Read it on the official government site
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