(a) A person may not act as an administrator of motor vehicle service contracts sold in this state unless the person registers with the director by providing the following information: (1) the administrator's name, business address, and other information required by the director; and
(2) the names of the providers for whom the person acts as an administrator.
(b) A provider that is licensed under AS 21.59.110 — 21.59.290 may administer its own motor vehicle service contract program without registering separately as an administrator. However, if a provider administers another provider's motor vehicle service contract program, the provider shall register as an administrator under this section.