29.1534 Signature.

Cite as [A.S.C.A. § 29.1534]

(a) All policies issued on risks in American Samoa shall be signed and subscribed as follows:

(1) if the insurer is an admitted domestic insurer, each policy shall be signed and subscribed by 2 of the major officers of the insurer designated in its articles of incorporation or in its bylaws to do so;

(2) if the insurer is an admitted foreign insurer, it shall be signed and subscribed by 2 of the major officers of the insurer authorized to do so and in all cases it shall be countersigned by the insurer’s authorized resident general agent, or shall have attached thereto an appropriate countersignature endorsement signed by the resident general agent;

(3) if the insurer is an admitted alien insurer it shall be signed by its United States general manager or other person in charge of its United States business if it has such officials, or if it does not, by 2 of the major officers of the insurer authorized to do so, and in all cases or shall be countersigned by the insurer’s authorized resident general agent, or shall have attached thereto an appropriate countersignature endorsement signed by the resident general agent.

(b) Countersignatures by an authorized resident general agent of the insurer originating a contract of insurance participated in by other insurers as cosureties or coindemnitors shall satisfy all the countersignature requirements in respect of the contract of insurance.

(c) The provisions of this section relating to countersignature by an insurer’s authorized general agent shall not apply to:

(1) any contract of insurance covering any vessel or aircraft used in interstate or foreign commerce, or covering any liability or other risks incident to the ownership, maintenance, or operation thereof;

(2) any contract of reinsurance between any insurance companies or other insurers;

(3) any contract of insurance covering any property in interstate or foreign commerce, or any liability or risks incident thereto.

History: 1974, PL 13-58 § 1.