SB 70: "An Act relating to coverage for additional insureds under owner and contractor controlled insurance programs; and providing for an effective date."
00 SENATE BILL NO. 70 01 "An Act relating to coverage for additional insureds under owner and contractor 02 controlled insurance programs; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 21.36.475(b) is amended to read: 05 (b) In this section, an owner controlled or contractor controlled insurance 06 [INSURED] program does not include 07 (1) builder's risk or course of construction insurance; 08 (2) insurance relating to the transportation of cargo or other property; 09 or 10 (3) insurance covering one or more affiliates, subsidiaries, partners, or 11 joint venture partners of a person [; OR 12 (4) INSURANCE POLICIES ENDORSED TO NAME ONE OR 13 MORE PERSONS AS ADDITIONAL INSUREDS]. 14 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to
01 read: 02 APPLICABILITY: CONTRACTS. AS 21.36.475(b), as amended by sec. 1 of this 03 Act, applies to contracts entered into on or after the effective date of this Act. 04 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).