00                            HOUSE BILL NO. 116                                                                          
01 "An Act exempting from insurance regulation cooperative agreements entered into by                                      
02 two or more persons engaged in commercial fishing for the purpose of paying claims or                                   
03 losses."                                                                                                                
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 21.03.021 is amended by adding a new subsection to read:                                           
06            (l)  This title does not apply to two or more persons engaged in commercial                                  
07       fishing activities who enter into a cooperative agreement with each other to pool                                 
08       contributions for the purpose of paying claims or losses arising from                                             
09                 (1)  a liability claim against a commercial fishing business operated by                                
10       a member of the pool; or                                                                                          
11                 (2)  the loss of or damage to a vessel or machine used in a commercial                                  
12       fishing business that is owned or leased by a member of the pool.