HB0116a -1- HB 116
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34-LS0616\I
HOUSE BILL NO. 116
IN THE LEGISLATURE OF THE STATE OF ALASKA
THIRTY-FOURTH LEGISLATURE - FIRST SESSION
BY THE HOUSE SPECIAL COMMITTEE ON FISHERIES BY REQUEST OF THE J OINT LEGISLATIVE
TASK FORCE EVALUATING ALASKA'S SEAFOOD INDUSTRY
Introduced: 2/26/25
Referred: House Special Committee on Fisheries, Labor and Commerce
A BILL
FOR AN ACT ENTITLED
"An Act exempting from insurance regulation cooperative agreements entered into by 1
two or more persons engaged in commercial fishing for the purpose of paying claims or 2
losses." 3
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 4
* Section 1. AS 21.03.021 is amended by adding a new subsection to read: 5
(l) This title does not apply to two or more persons engaged in commercial 6
fishing activities who enter into a cooperative agreement with each other to pool 7
contributions for the purpose of paying claims or losses arising from 8
(1) a liability claim against a commercial fishing business operated by 9
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. 12