Sec. 21.14.040. - Authorized control level event.
If an authorized control level event occurs, the director shall take the action necessary
(1) under AS 21.14.030 (a) against the insurer; or
(2) to place the insurer under regulatory control under AS 21.78 if, after a hearing under AS 21.06.180 - 21.06.240, the director determines it to be in the best interest of the policyholders and creditors of the insurer and of the public.