# Alaska Stat. § 21.86.050: Fiduciary responsibility

> Alaska · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.050

## Section

- **Citation:** Alaska Stat. § 21.86.050
- **Heading:** Fiduciary responsibility
- **Jurisdiction:** Alaska
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AK Code / Title 21 / Chapter 21.86 / Section 21.86.050

## Text

(a) A director, officer, employee, or partner of a health maintenance organization who receives, collects, disburses, or invests money in connection with the activities of that organization is responsible for that money in a fiduciary relationship to the organization.

(b) A health maintenance organization shall maintain in force a fidelity bond on employees and officers in an amount not less than $100,000 or another amount prescribed by the director. The bond must be written with at least a one-year discovery period and, if written with less than a three-year discovery period, must contain a provision that cancellation or termination of the bond, whether by or at the request of the insured or by the underwriter, does not take effect sooner than 90 days after written notice of cancellation or termination has been filed with the director, unless an earlier cancellation or termination date is approved by the director.

## Nearby sections

- [Alaska Stat. § 21.86.010 Establishment of health maintenance organizations.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.010.md)
- [Alaska Stat. § 21.86.020 Issuance of certificate of authority; approval of changes.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.020.md)
- [Alaska Stat. § 21.86.030 Powers of a health maintenance organization.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.030.md)
- [Alaska Stat. § 21.86.040 Governing body; enrollee participation.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.040.md)
- [Alaska Stat. § 21.86.045 Biographical affidavits.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.045.md)
- [Alaska Stat. § 21.86.050 Fiduciary responsibility.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.050.md)
- [Alaska Stat. § 21.86.060 Provision of services.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.060.md)
- [Alaska Stat. § 21.86.070 Evidence of coverage; charges for health care services.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.070.md)
- [Alaska Stat. § 21.86.075 Chiropractic health care services.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.075.md)
- [Alaska Stat. § 21.86.078 Choice of health care provider.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.078.md)
- [Alaska Stat. § 21.86.080 Annual statement; additional reports.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.080.md)
- [Alaska Stat. § 21.86.090 Information to enrollees.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.090.md)
- [Alaska Stat. § 21.86.100 Complaint system; report.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.100.md)
- [Alaska Stat. § 21.86.110 Recovery of health care costs.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.110.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.86_S21.86.050. Check the current official text before relying on it. Not legal advice.