Enrolled HB 116: Exempting from insurance regulation cooperative agreements entered into by two or more persons engaged in commercial fishing for the purpose of paying claims or losses.
00Enrolled HB 116 01 Exempting from insurance regulation cooperative agreements entered into by two or more 02 persons engaged in commercial fishing for the purpose of paying claims or losses. 03 _______________ 04 * Section 1. AS 21.03.021 is amended by adding a new subsection to read: 05 (l) This title does not apply to two or more persons engaged in commercial 06 fishing activities who enter into a cooperative agreement with each other to pool 07 contributions for the purpose of paying claims or losses arising from 08 (1) a liability claim against a commercial fishing business operated by 09 a member of the pool; or 10 (2) the loss of or damage to a vessel or machine used in a commercial 11 fishing business that is owned or leased by a member of the pool.