Ark. Code Ann. § 23-79-1102 — AR Code / Title 23 / Chapter 79 / Subchapter 11 / Section 23-79-1102
Definitions
Status: in_force

As used in this subchapter: (1) (A) "Health benefit policy" means an individual or group plan, policy, or contract for healthcare services issued, delivered, issued for delivery, or renewed in this state, including those contracts executed by the State of Arkansas on behalf of state employees, by a healthcare corporation, health maintenance organization, preferred provider organization, accident and sickness insurer, fraternal benefit society, hospital service corporation, medical service corporation, provider-sponsored healthcare corporation, or other insurer or similar entity. (B) "Health benefit policy" does not include: (i) Accident-only, credit, specified disease, dental, hospital indemnity, Medicare supplement, long-term care, or disability income insurance policies; (ii) Coverage issued as a supplement to liability insurance; (iii) Workers' compensation or similar insurance; or (iv) Automobile medical-payment insurance; (2) "Insurer" means an accident and sickness insurer, fraternal benefit society, hospital service corporation, medical service corporation, healthcare corporation, health maintenance organization, or any similar entity authorized to issue contracts under Title 23 of this Code; and (3) "Religious employer" means an entity that: (A) Is organized and operated for religious purposes and has received a section 501(c)(3) designation from the Internal Revenue Service; (B) Has as one (1) of its primary purposes the inculcation of religious values; and (C) Employs primarily persons who share its religious tenets. Acts 2005, No. 2217, § 1.

As used in this subchapter:

(1) (A) "Health benefit policy" means an individual or group plan, policy, or contract for healthcare services issued, delivered, issued for delivery, or renewed in this state, including those contracts executed by the State of Arkansas on behalf of state employees, by a healthcare corporation, health maintenance organization, preferred provider organization, accident and sickness insurer, fraternal benefit society, hospital service corporation, medical service corporation, provider-sponsored healthcare corporation, or other insurer or similar entity. (B) "Health benefit policy" does not include: (i) Accident-only, credit, specified disease, dental, hospital indemnity, Medicare supplement, long-term care, or disability income insurance policies; (ii) Coverage issued as a supplement to liability insurance; (iii) Workers' compensation or similar insurance; or (iv) Automobile medical-payment insurance;

(A) "Health benefit policy" means an individual or group plan, policy, or contract for healthcare services issued, delivered, issued for delivery, or renewed in this state, including those contracts executed by the State of Arkansas on behalf of state employees, by a healthcare corporation, health maintenance organization, preferred provider organization, accident and sickness insurer, fraternal benefit society, hospital service corporation, medical service corporation, provider-sponsored healthcare corporation, or other insurer or similar entity.

(B) "Health benefit policy" does not include: (i) Accident-only, credit, specified disease, dental, hospital indemnity, Medicare supplement, long-term care, or disability income insurance policies; (ii) Coverage issued as a supplement to liability insurance; (iii) Workers' compensation or similar insurance; or (iv) Automobile medical-payment insurance;

(i) Accident-only, credit, specified disease, dental, hospital indemnity, Medicare supplement, long-term care, or disability income insurance policies;

(ii) Coverage issued as a supplement to liability insurance;

(iii) Workers' compensation or similar insurance; or

(iv) Automobile medical-payment insurance;

(2) "Insurer" means an accident and sickness insurer, fraternal benefit society, hospital service corporation, medical service corporation, healthcare corporation, health maintenance organization, or any similar entity authorized to issue contracts under Title 23 of this Code; and

(3) "Religious employer" means an entity that: (A) Is organized and operated for religious purposes and has received a section 501(c)(3) designation from the Internal Revenue Service; (B) Has as one (1) of its primary purposes the inculcation of religious values; and (C) Employs primarily persons who share its religious tenets.

(A) Is organized and operated for religious purposes and has received a section 501(c)(3) designation from the Internal Revenue Service;

(B) Has as one (1) of its primary purposes the inculcation of religious values; and

(C) Employs primarily persons who share its religious tenets.

Acts 2005, No. 2217, § 1.
Ark. Code Ann. § 23-102-103 — AR Code / Title 23 / Chapter 102 / Section 23-102-103
Definitions
Status: in_force

As used in this chapter: (1) "Authority" means the Arkansas Earthquake Authority; (2) "Board" means the Board of the Arkansas Earthquake Authority; (3) "Commissioner" means the Insurance Commissioner; (4) "Event" means an earthquake and all subsequent earthquakes occurring within the following seventy-two-hour period; (5) "Insurer" means all property insurers as defined in § 23-62-104 and includes farmers' mutual aid associations and all casualty insurers as defined in § 23-62-105 ; (6) "Net direct written premium" is the gross amount of premiums received from policies of insurance issued in this state less return premiums and dividends paid or credited to policyholders. "Net direct written premium" does not include premiums for indemnity reinsurance accepted from other licensed insurers, and there shall be no deductions for premiums for indemnity reinsurance ceded to other insurers; and (7) "Program" means the Market Assistance Program. Acts 1999, No. 1343, § 3.

As used in this chapter:

(1) "Authority" means the Arkansas Earthquake Authority;

(2) "Board" means the Board of the Arkansas Earthquake Authority;

(3) "Commissioner" means the Insurance Commissioner;

(4) "Event" means an earthquake and all subsequent earthquakes occurring within the following seventy-two-hour period;

(5) "Insurer" means all property insurers as defined in § 23-62-104 and includes farmers' mutual aid associations and all casualty insurers as defined in § 23-62-105 ;

(6) "Net direct written premium" is the gross amount of premiums received from policies of insurance issued in this state less return premiums and dividends paid or credited to policyholders. "Net direct written premium" does not include premiums for indemnity reinsurance accepted from other licensed insurers, and there shall be no deductions for premiums for indemnity reinsurance ceded to other insurers; and

(7) "Program" means the Market Assistance Program.

Acts 1999, No. 1343, § 3.
Ark. Code Ann. § 23-35-305 — AR Code / Title 23 / Chapter 35 / Subchapter 3 / Section 23-35-305
Officers - Selection, term, and oath
Status: in_force

(a) Within ten (10) days following the organizational meeting and each annual meeting, the directors of the credit union shall elect from their own number a chief executive officer who may be designated as chair or president of the board, vice chair or vice president, a treasurer, and a secretary, of whom the last two (2) may be the same individual. The board of directors may employ an officer in charge of operations whose title shall be either president or general manager or, in lieu thereof, the board of directors of the credit union may designate the treasurer or an assistant treasurer to be in active charge of the affairs of the credit union. (b) Within ten (10) days after election or appointment to any position, each person so elected or appointed shall execute an oath of office by which he or she agrees to accept and to diligently and faithfully carry out the duties and responsibilities of the position to which he or she has been elected or appointed and not to negligently or willfully violate, or permit to be violated, any provision of this chapter or the bylaws of the credit union. (c) The president and secretary shall execute a certificate of election which shall set forth the names and addresses of the officers, directors, and committee members elected or appointed. (d) The oath of office and the certificates of election shall be executed on forms prepared by the Credit Union Division, and one (1) copy of each shall be filed with the division within twenty (20) days after the election or appointment. (e) The terms of the officers shall be for one (1) year or until their successors are chosen and have been duly qualified. Acts 1971, No. 132, § 12; 1979, No. 206, § 3; 1985, No. 936, § 5; A.S.A. 1947, § 67-912.

(a) Within ten (10) days following the organizational meeting and each annual meeting, the directors of the credit union shall elect from their own number a chief executive officer who may be designated as chair or president of the board, vice chair or vice president, a treasurer, and a secretary, of whom the last two (2) may be the same individual. The board of directors may employ an officer in charge of operations whose title shall be either president or general manager or, in lieu thereof, the board of directors of the credit union may designate the treasurer or an assistant treasurer to be in active charge of the affairs of the credit union.

(b) Within ten (10) days after election or appointment to any position, each person so elected or appointed shall execute an oath of office by which he or she agrees to accept and to diligently and faithfully carry out the duties and responsibilities of the position to which he or she has been elected or appointed and not to negligently or willfully violate, or permit to be violated, any provision of this chapter or the bylaws of the credit union.

(c) The president and secretary shall execute a certificate of election which shall set forth the names and addresses of the officers, directors, and committee members elected or appointed.

(d) The oath of office and the certificates of election shall be executed on forms prepared by the Credit Union Division, and one (1) copy of each shall be filed with the division within twenty (20) days after the election or appointment.

(e) The terms of the officers shall be for one (1) year or until their successors are chosen and have been duly qualified.

Acts 1971, No. 132, § 12; 1979, No. 206, § 3; 1985, No. 936, § 5; A.S.A. 1947, § 67-912.
Ark. Code Ann. § 23-61-1002 — AR Code / Title 23 / Chapter 61 / Subchapter 10 / Section 23-61-1002
Legislative intent
Status: in_force

Notwithstanding any general or specific laws to the contrary, it is the intent of the General Assembly for the Arkansas Health and Opportunity for Me Program to be a fiscally sustainable, cost-effective, and opportunity-driven program that: (1) Achieves comprehensive and innovative healthcare reform that reduces the rate of growth in state and federal obligations for providing healthcare coverage to low-income adults in Arkansas; (2) Reduces the maternal and infant mortality rates in the state through initiatives that promote healthy outcomes for eligible women with high-risk pregnancies; (3) Promotes the health, welfare, and stability of mothers and their infants after birth through hospital-based community bridge organizations; (4) Encourages personal responsibility for individuals to demonstrate that they value healthcare coverage and understand their roles and obligations in maintaining private insurance coverage; (5) Increases opportunities for full-time work and attainment of economic independence, especially for certain young adults, to reduce long-term poverty that is associated with additional risk for disease and premature death; (6) Addresses health-related social needs of Arkansans in rural counties through hospital-based community bridge organizations and reduces the additional risk for disease and premature death associated with living in a rural county; (7) Strengthens the financial stability of the critical access hospitals and other small, rural hospitals; and (8) Fills gaps in the continuum of care for individuals in need of services for serious mental illness and substance use disorders. Amended by Act 2021, No. 530,§ 1, eff. on and after January 1, 2022. Added by Act 2016EX2, No. 2,§ 1, eff. 4/8/2016. Added by Act 2016EX2, No. 1,§ 1, eff. 4/8/2016.

Notwithstanding any general or specific laws to the contrary, it is the intent of the General Assembly for the Arkansas Health and Opportunity for Me Program to be a fiscally sustainable, cost-effective, and opportunity-driven program that:

(1) Achieves comprehensive and innovative healthcare reform that reduces the rate of growth in state and federal obligations for providing healthcare coverage to low-income adults in Arkansas;

(2) Reduces the maternal and infant mortality rates in the state through initiatives that promote healthy outcomes for eligible women with high-risk pregnancies;

(3) Promotes the health, welfare, and stability of mothers and their infants after birth through hospital-based community bridge organizations;

(4) Encourages personal responsibility for individuals to demonstrate that they value healthcare coverage and understand their roles and obligations in maintaining private insurance coverage;

(5) Increases opportunities for full-time work and attainment of economic independence, especially for certain young adults, to reduce long-term poverty that is associated with additional risk for disease and premature death;

(6) Addresses health-related social needs of Arkansans in rural counties through hospital-based community bridge organizations and reduces the additional risk for disease and premature death associated with living in a rural county;

(7) Strengthens the financial stability of the critical access hospitals and other small, rural hospitals; and

(8) Fills gaps in the continuum of care for individuals in need of services for serious mental illness and substance use disorders.

Amended by Act 2021, No. 530,§ 1, eff. on and after January 1, 2022.

Added by Act 2016EX2, No. 2,§ 1, eff. 4/8/2016.

Added by Act 2016EX2, No. 1,§ 1, eff. 4/8/2016.
Ark. Code Ann. § 23-89-203 — AR Code / Title 23 / Chapter 89 / Subchapter 2 / Section 23-89-203
Rejection of coverage
Status: in_force

(a) The named insured shall have the right to reject in writing all or any one (1) or more of the coverages enumerated in § 23-89-202 . (b) After a named insured or applicant for insurance rejects this coverage, the insurer or any of its affiliates shall not be required to notify any insured in any renewal, reinstatement, substitute, amended, or replacement policy as to the availability of such coverage. Acts 1973, No. 138, § 2; A.S.A. 1947, § 66-4015; Acts 1995, No. 527, § 1.

(a) The named insured shall have the right to reject in writing all or any one (1) or more of the coverages enumerated in § 23-89-202 .

(b) After a named insured or applicant for insurance rejects this coverage, the insurer or any of its affiliates shall not be required to notify any insured in any renewal, reinstatement, substitute, amended, or replacement policy as to the availability of such coverage.

Acts 1973, No. 138, § 2; A.S.A. 1947, § 66-4015; Acts 1995, No. 527, § 1.
Ark. Code Ann. § 23-18-529 — AR Code / Title 23 / Chapter 18 / Subchapter 5 / Section 23-18-529
Forecasts of loading and resources - Reports
Status: in_force

(a) (1) Each public utility shall annually furnish to the Arkansas Public Service Commission for its review a report containing a forecast of loads and resources and describing the major utility facilities which, in the judgment of the utility, will be required to supply system demands during the forecast period. (2) The forecast shall cover a period of at least two (2) calendar years next succeeding the date of the report, and such additional longer-range forecast reports as the commission may find necessary and may require by rule from time to time. (3) All such reports shall be available to public inspection. A copy of any report shall be furnished by the commission to any municipality, county, or government agency charged with the duty of protecting the environment or the duty of planning land use if that agency requests a copy of such a report in writing. (4) The report shall be in such form and shall contain such information as may be reasonably prescribed by the commission by rule. (b) Pursuant to this section, the commission may also require each public utility to furnish from time to time reports concerning actions taken by the utility to encourage the conservation of energy by its customers. Amended by Act 2019, No. 315,§ 2484, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2483, eff. 7/24/2019. Acts 1973, No. 164, § 15; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.14.

(a) (1) Each public utility shall annually furnish to the Arkansas Public Service Commission for its review a report containing a forecast of loads and resources and describing the major utility facilities which, in the judgment of the utility, will be required to supply system demands during the forecast period. (2) The forecast shall cover a period of at least two (2) calendar years next succeeding the date of the report, and such additional longer-range forecast reports as the commission may find necessary and may require by rule from time to time. (3) All such reports shall be available to public inspection. A copy of any report shall be furnished by the commission to any municipality, county, or government agency charged with the duty of protecting the environment or the duty of planning land use if that agency requests a copy of such a report in writing. (4) The report shall be in such form and shall contain such information as may be reasonably prescribed by the commission by rule.

(1) Each public utility shall annually furnish to the Arkansas Public Service Commission for its review a report containing a forecast of loads and resources and describing the major utility facilities which, in the judgment of the utility, will be required to supply system demands during the forecast period.

(2) The forecast shall cover a period of at least two (2) calendar years next succeeding the date of the report, and such additional longer-range forecast reports as the commission may find necessary and may require by rule from time to time.

(3) All such reports shall be available to public inspection. A copy of any report shall be furnished by the commission to any municipality, county, or government agency charged with the duty of protecting the environment or the duty of planning land use if that agency requests a copy of such a report in writing.

(4) The report shall be in such form and shall contain such information as may be reasonably prescribed by the commission by rule.

(b) Pursuant to this section, the commission may also require each public utility to furnish from time to time reports concerning actions taken by the utility to encourage the conservation of energy by its customers.

Amended by Act 2019, No. 315,§ 2484, eff. 7/24/2019.

Amended by Act 2019, No. 315,§ 2483, eff. 7/24/2019.

Acts 1973, No. 164, § 15; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.14.
Ark. Code Ann. § 23-115-503 — AR Code / Title 23 / Chapter 115 / Subchapter 5 / Section 23-115-503
Cancellation, suspension, revocation, or termination of major procurement contract
Status: in_force

(a) A major procurement contract executed by the Office of the Arkansas Lottery under this chapter shall specify the reasons for which the major procurement contract may be canceled, suspended, revoked, or terminated by the office. The reasons shall include without limitation: (1) Commission of a violation of this chapter or a rule of the office; (2) Commission of any fraud, deceit, or misrepresentation; (3) Conduct prejudicial to public confidence in a lottery; (4) The vendor's filing for or being placed in bankruptcy or receivership; or (5) Any material change as determined in the sole discretion of the office in any matter considered by the office in entering into the major procurement contract with the vendor. (b) (1) If the Director of the Office of the Arkansas Lottery or his or her designee determines that cancellation, denial, revocation, suspension, or the failure to renew a major procurement contract is in the best interest of the Arkansas Scholarship Lottery, the public welfare, or the State of Arkansas, the director or his or her designee may: (A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a major procurement contract issued under this chapter; or (B) Fail to renew a major procurement contract issued under this chapter. (2) The major procurement contract may be temporarily suspended by the director or his or her designee without prior notice pending a hearing. (3) A major procurement contract may be suspended, revoked, or terminated by the director or his or her designee for any one (1) or more of the reasons enumerated in this section. (c) Hearings under this section shall be held in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq. Amended by Act 2017, No. 334,§ 8, eff. 8/1/2017. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) A major procurement contract executed by the Office of the Arkansas Lottery under this chapter shall specify the reasons for which the major procurement contract may be canceled, suspended, revoked, or terminated by the office. The reasons shall include without limitation: (1) Commission of a violation of this chapter or a rule of the office; (2) Commission of any fraud, deceit, or misrepresentation; (3) Conduct prejudicial to public confidence in a lottery; (4) The vendor's filing for or being placed in bankruptcy or receivership; or (5) Any material change as determined in the sole discretion of the office in any matter considered by the office in entering into the major procurement contract with the vendor.

(1) Commission of a violation of this chapter or a rule of the office;

(2) Commission of any fraud, deceit, or misrepresentation;

(3) Conduct prejudicial to public confidence in a lottery;

(4) The vendor's filing for or being placed in bankruptcy or receivership; or

(5) Any material change as determined in the sole discretion of the office in any matter considered by the office in entering into the major procurement contract with the vendor.

(b) (1) If the Director of the Office of the Arkansas Lottery or his or her designee determines that cancellation, denial, revocation, suspension, or the failure to renew a major procurement contract is in the best interest of the Arkansas Scholarship Lottery, the public welfare, or the State of Arkansas, the director or his or her designee may: (A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a major procurement contract issued under this chapter; or (B) Fail to renew a major procurement contract issued under this chapter. (2) The major procurement contract may be temporarily suspended by the director or his or her designee without prior notice pending a hearing. (3) A major procurement contract may be suspended, revoked, or terminated by the director or his or her designee for any one (1) or more of the reasons enumerated in this section.

(1) If the Director of the Office of the Arkansas Lottery or his or her designee determines that cancellation, denial, revocation, suspension, or the failure to renew a major procurement contract is in the best interest of the Arkansas Scholarship Lottery, the public welfare, or the State of Arkansas, the director or his or her designee may: (A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a major procurement contract issued under this chapter; or (B) Fail to renew a major procurement contract issued under this chapter.

(A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a major procurement contract issued under this chapter; or

(B) Fail to renew a major procurement contract issued under this chapter.

(2) The major procurement contract may be temporarily suspended by the director or his or her designee without prior notice pending a hearing.

(3) A major procurement contract may be suspended, revoked, or terminated by the director or his or her designee for any one (1) or more of the reasons enumerated in this section.

(c) Hearings under this section shall be held in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

Amended by Act 2017, No. 334,§ 8, eff. 8/1/2017.

Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015.

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-74-503 — AR Code / Title 23 / Chapter 74 / Subchapter 5 / Section 23-74-503
Exemptions
Status: in_force

Except as herein provided, societies shall be governed by this chapter and shall be exempt from all other provisions of the general insurance laws of this state unless they be expressly designated therein or unless it is specifically made applicable by this chapter. Acts 1989, No. 881, § 1.

Except as herein provided, societies shall be governed by this chapter and shall be exempt from all other provisions of the general insurance laws of this state unless they be expressly designated therein or unless it is specifically made applicable by this chapter.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-37-812 — AR Code / Title 23 / Chapter 37 / Subchapter 8 / Section 23-37-812
Determination of total deposits
Status: in_force

For purposes of this subchapter, the total deposits of savings and loan associations within the region shall be determined by reference to the records of the Federal Home Loan Bank Board [abolished], Washington D.C. Acts 1987, No. 45, § 13.

For purposes of this subchapter, the total deposits of savings and loan associations within the region shall be determined by reference to the records of the Federal Home Loan Bank Board [abolished], Washington D.C.

Acts 1987, No. 45, § 13.
Ark. Code Ann. § 23-63-1605 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1605
Surplus requirements
Status: in_force

(a) (1) The Insurance Commissioner shall not issue a license to a captive insurance company unless the company possesses and maintains unimpaired surplus of: (A) In the case of a producer reinsurance captive insurance company, not less than three hundred thousand dollars ($300,000); (B) In the case of a pure captive insurance company, not less than one hundred fifty thousand dollars ($150,000); (C) In the case of an association captive insurance company incorporated as a stock insurer, not less than three hundred fifty thousand dollars ($350,000); (D) In the case of an industrial insured captive insurance company incorporated as a stock insurer, not less than three hundred thousand dollars ($300,000); (E) In the case of an association captive insurance company incorporated as a mutual insurer, not less than seven hundred fifty thousand dollars ($750,000); (F) In the case of an industrial insured captive insurance company incorporated as a mutual insurer, not less than five hundred thousand dollars ($500,000); (G) In the case of a sponsored captive insurance company, not less than two hundred fifty thousand dollars ($250,000); and (H) In the case of a special purpose captive insurance company, an amount determined by the commissioner after giving due consideration to the company's business plan, feasibility study, and pro formas, including the nature of the risks to be insured, but in no event less than three hundred thousand dollars ($300,000). (2) The surplus may be in the form of: (A) Cash; (B) Other assets acceptable to the commissioner; or (C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System and approved by the commissioner. (b) Notwithstanding the requirements of subsection (a) of this section, a captive insurance company organized as a reciprocal insurer under this subchapter may not be issued a license unless it possesses and maintains a free surplus of one million dollars ($1,000,000). (c) (1) The commissioner may prescribe additional surplus based upon the type, volume, and nature of insurance business transacted. (2) This capital may be in the form of: (A) Cash; (B) Other assets acceptable to the commissioner; or (C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System. (d) (1) A captive insurance company may not pay a dividend out of, or other distribution with respect to, capital or surplus in excess of the limitations set forth in § 23-63-515 , without the prior approval of the commissioner. (2) Approval of an ongoing plan for the payment of dividends or other distribution must be conditioned upon the retention at the time of each payment of capital or surplus in excess of amounts specified by or determined in accordance with formulas approved by the commissioner. (3) This subsection shall not apply to a producer reinsurance captive insurance company. Amended by Act 2019, No. 521,§ 7, eff. 7/24/2019. Acts 2001, No. 1391, § 5; 2003, No. 466, § 4.

(a) (1) The Insurance Commissioner shall not issue a license to a captive insurance company unless the company possesses and maintains unimpaired surplus of: (A) In the case of a producer reinsurance captive insurance company, not less than three hundred thousand dollars ($300,000); (B) In the case of a pure captive insurance company, not less than one hundred fifty thousand dollars ($150,000); (C) In the case of an association captive insurance company incorporated as a stock insurer, not less than three hundred fifty thousand dollars ($350,000); (D) In the case of an industrial insured captive insurance company incorporated as a stock insurer, not less than three hundred thousand dollars ($300,000); (E) In the case of an association captive insurance company incorporated as a mutual insurer, not less than seven hundred fifty thousand dollars ($750,000); (F) In the case of an industrial insured captive insurance company incorporated as a mutual insurer, not less than five hundred thousand dollars ($500,000); (G) In the case of a sponsored captive insurance company, not less than two hundred fifty thousand dollars ($250,000); and (H) In the case of a special purpose captive insurance company, an amount determined by the commissioner after giving due consideration to the company's business plan, feasibility study, and pro formas, including the nature of the risks to be insured, but in no event less than three hundred thousand dollars ($300,000). (2) The surplus may be in the form of: (A) Cash; (B) Other assets acceptable to the commissioner; or (C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System and approved by the commissioner.

(1) The Insurance Commissioner shall not issue a license to a captive insurance company unless the company possesses and maintains unimpaired surplus of: (A) In the case of a producer reinsurance captive insurance company, not less than three hundred thousand dollars ($300,000); (B) In the case of a pure captive insurance company, not less than one hundred fifty thousand dollars ($150,000); (C) In the case of an association captive insurance company incorporated as a stock insurer, not less than three hundred fifty thousand dollars ($350,000); (D) In the case of an industrial insured captive insurance company incorporated as a stock insurer, not less than three hundred thousand dollars ($300,000); (E) In the case of an association captive insurance company incorporated as a mutual insurer, not less than seven hundred fifty thousand dollars ($750,000); (F) In the case of an industrial insured captive insurance company incorporated as a mutual insurer, not less than five hundred thousand dollars ($500,000); (G) In the case of a sponsored captive insurance company, not less than two hundred fifty thousand dollars ($250,000); and (H) In the case of a special purpose captive insurance company, an amount determined by the commissioner after giving due consideration to the company's business plan, feasibility study, and pro formas, including the nature of the risks to be insured, but in no event less than three hundred thousand dollars ($300,000).

(A) In the case of a producer reinsurance captive insurance company, not less than three hundred thousand dollars ($300,000);

(B) In the case of a pure captive insurance company, not less than one hundred fifty thousand dollars ($150,000);

(C) In the case of an association captive insurance company incorporated as a stock insurer, not less than three hundred fifty thousand dollars ($350,000);

(D) In the case of an industrial insured captive insurance company incorporated as a stock insurer, not less than three hundred thousand dollars ($300,000);

(E) In the case of an association captive insurance company incorporated as a mutual insurer, not less than seven hundred fifty thousand dollars ($750,000);

(F) In the case of an industrial insured captive insurance company incorporated as a mutual insurer, not less than five hundred thousand dollars ($500,000);

(G) In the case of a sponsored captive insurance company, not less than two hundred fifty thousand dollars ($250,000); and

(H) In the case of a special purpose captive insurance company, an amount determined by the commissioner after giving due consideration to the company's business plan, feasibility study, and pro formas, including the nature of the risks to be insured, but in no event less than three hundred thousand dollars ($300,000).

(2) The surplus may be in the form of: (A) Cash; (B) Other assets acceptable to the commissioner; or (C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System and approved by the commissioner.

(A) Cash;

(B) Other assets acceptable to the commissioner; or

(C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System and approved by the commissioner.

(b) Notwithstanding the requirements of subsection (a) of this section, a captive insurance company organized as a reciprocal insurer under this subchapter may not be issued a license unless it possesses and maintains a free surplus of one million dollars ($1,000,000).

(c) (1) The commissioner may prescribe additional surplus based upon the type, volume, and nature of insurance business transacted. (2) This capital may be in the form of: (A) Cash; (B) Other assets acceptable to the commissioner; or (C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System.

(1) The commissioner may prescribe additional surplus based upon the type, volume, and nature of insurance business transacted.

(2) This capital may be in the form of: (A) Cash; (B) Other assets acceptable to the commissioner; or (C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System.

(A) Cash;

(B) Other assets acceptable to the commissioner; or

(C) An irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System.

(d) (1) A captive insurance company may not pay a dividend out of, or other distribution with respect to, capital or surplus in excess of the limitations set forth in § 23-63-515 , without the prior approval of the commissioner. (2) Approval of an ongoing plan for the payment of dividends or other distribution must be conditioned upon the retention at the time of each payment of capital or surplus in excess of amounts specified by or determined in accordance with formulas approved by the commissioner. (3) This subsection shall not apply to a producer reinsurance captive insurance company.

(1) A captive insurance company may not pay a dividend out of, or other distribution with respect to, capital or surplus in excess of the limitations set forth in § 23-63-515 , without the prior approval of the commissioner.

(2) Approval of an ongoing plan for the payment of dividends or other distribution must be conditioned upon the retention at the time of each payment of capital or surplus in excess of amounts specified by or determined in accordance with formulas approved by the commissioner.

(3) This subsection shall not apply to a producer reinsurance captive insurance company.

Amended by Act 2019, No. 521,§ 7, eff. 7/24/2019.

Acts 2001, No. 1391, § 5; 2003, No. 466, § 4.
Ark. Code Ann. § 23-63-1609 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1609
Suspension and revocation
Status: in_force

(a) The license of a captive insurance company to conduct an insurance business in this state may be penalized, suspended, or revoked by the Insurance Commissioner for: (1) Insolvency or impairment of capital or surplus; (2) Failure to meet the requirements of §§ 23-63-1604 and 23-63-1605 ; (3) Refusal or failure to submit an annual report, as required by § 23-63-1607 , or any other report or statement required by law or by lawful order of the commissioner; (4) Failure to comply with its own charter, bylaws, or other organizational document; (5) Failure to submit to examination or any legal obligation relative to an examination, as required by § 23-63-1608 ; (6) Refusal or failure to pay the cost of examination as required by § 23-63-1608 ; (7) Use of methods that, although not specifically prohibited by law, render its operation detrimental or its condition unsound with respect to the public or to its policyholders; or (8) Failure to comply with the laws of this state. (b) If upon examination, hearing, or other evidence the commissioner finds that a captive insurance company has committed any of the acts specified in subsection (a) of this section, the commissioner may penalize, suspend, or revoke the license if the commissioner considers it in the best interest of the public and the policyholders of the captive insurance company. Acts 2001, No. 1391, § 9.

(a) The license of a captive insurance company to conduct an insurance business in this state may be penalized, suspended, or revoked by the Insurance Commissioner for: (1) Insolvency or impairment of capital or surplus; (2) Failure to meet the requirements of §§ 23-63-1604 and 23-63-1605 ; (3) Refusal or failure to submit an annual report, as required by § 23-63-1607 , or any other report or statement required by law or by lawful order of the commissioner; (4) Failure to comply with its own charter, bylaws, or other organizational document; (5) Failure to submit to examination or any legal obligation relative to an examination, as required by § 23-63-1608 ; (6) Refusal or failure to pay the cost of examination as required by § 23-63-1608 ; (7) Use of methods that, although not specifically prohibited by law, render its operation detrimental or its condition unsound with respect to the public or to its policyholders; or (8) Failure to comply with the laws of this state.

(1) Insolvency or impairment of capital or surplus;

(2) Failure to meet the requirements of §§ 23-63-1604 and 23-63-1605 ;

(3) Refusal or failure to submit an annual report, as required by § 23-63-1607 , or any other report or statement required by law or by lawful order of the commissioner;

(4) Failure to comply with its own charter, bylaws, or other organizational document;

(5) Failure to submit to examination or any legal obligation relative to an examination, as required by § 23-63-1608 ;

(6) Refusal or failure to pay the cost of examination as required by § 23-63-1608 ;

(7) Use of methods that, although not specifically prohibited by law, render its operation detrimental or its condition unsound with respect to the public or to its policyholders; or

(8) Failure to comply with the laws of this state.

(b) If upon examination, hearing, or other evidence the commissioner finds that a captive insurance company has committed any of the acts specified in subsection (a) of this section, the commissioner may penalize, suspend, or revoke the license if the commissioner considers it in the best interest of the public and the policyholders of the captive insurance company.

Acts 2001, No. 1391, § 9.
Ark. Code Ann. § 23-112-601 — AR Code / Title 23 / Chapter 112 / Subchapter 6 / Section 23-112-601
Necessity for regulation - Legislative findings - Legislative declaration
Status: in_force

(a) The General Assembly declares that the public interest is affected by the sale and distribution of used motor vehicles, and it is recognized that a significant factor of the inducement in making a sale of a used motor vehicle to a member of the general public is the trust and confidence of the purchaser in the retail dealer from whom the purchase is made, with the expectancy that the dealer will remain in business to stand behind and provide service for the motor vehicle purchased. (b) It is therefore found to be necessary to license used motor vehicle dealers and to prohibit certain acts and set penalties for violations and perpetration of certain acts by used motor vehicle dealers who are not licensed as new motor vehicle dealers selling used cars incidental to their new motor vehicle dealership operations, salespersons, agents, representatives, and employees of used motor vehicle dealers in order to: (1) Prevent fraud, improper impositions, and other abuses upon the citizens of this state; (2) Protect and preserve the investments and properties of the citizens of this state; and (3) Foster and keep alive vigorous and healthy competition by prohibiting unfair practices by which fair and honest competition is destroyed or prevented. Acts 1993, No. 490, § 1.

(a) The General Assembly declares that the public interest is affected by the sale and distribution of used motor vehicles, and it is recognized that a significant factor of the inducement in making a sale of a used motor vehicle to a member of the general public is the trust and confidence of the purchaser in the retail dealer from whom the purchase is made, with the expectancy that the dealer will remain in business to stand behind and provide service for the motor vehicle purchased.

(b) It is therefore found to be necessary to license used motor vehicle dealers and to prohibit certain acts and set penalties for violations and perpetration of certain acts by used motor vehicle dealers who are not licensed as new motor vehicle dealers selling used cars incidental to their new motor vehicle dealership operations, salespersons, agents, representatives, and employees of used motor vehicle dealers in order to: (1) Prevent fraud, improper impositions, and other abuses upon the citizens of this state; (2) Protect and preserve the investments and properties of the citizens of this state; and (3) Foster and keep alive vigorous and healthy competition by prohibiting unfair practices by which fair and honest competition is destroyed or prevented.

(1) Prevent fraud, improper impositions, and other abuses upon the citizens of this state;

(2) Protect and preserve the investments and properties of the citizens of this state; and

(3) Foster and keep alive vigorous and healthy competition by prohibiting unfair practices by which fair and honest competition is destroyed or prevented.

Acts 1993, No. 490, § 1.
Ark. Code Ann. § 23-76-109 — AR Code / Title 23 / Chapter 76 / Section 23-76-109
Powers - Definition
Status: in_force

(a) The powers of a health maintenance organization include, but are not limited to, the following: (1) The purchase, lease, construction, renovation, operation, or maintenance of hospitals, medical facilities, or both, and their ancillary equipment, and the property as may reasonably be required for its principal office or for other purposes as may be necessary in the transaction of the business of the health maintenance organization; (2) The making of loans to a medical group under contract with it in furtherance of its program or the making of loans to a corporation or corporations under its control for the purpose of acquiring or constructing medical facilities and hospitals or in furtherance of a program providing healthcare services to enrollees; (3) The furnishing of healthcare services through providers which are under contract with the health maintenance organization; (4) The contracting with any person for the performance on its behalf of certain functions such as marketing, enrollment, and administration; (5) The contracting with an insurance company licensed in this state, or with a hospital or medical service corporation authorized to do business in this state, for the provision of insurance, indemnity, or reimbursement against the cost of healthcare services provided by the health maintenance organization; (6) The offering, in addition to basic healthcare services, of: (A) Additional healthcare services; (B) Indemnity benefits covering out-of-area or emergency services, and special services not provided on a direct service basis; and (C) (i) Indemnity benefits on a point-of-service basis within such limits as may be prescribed by the Insurance Commissioner. (ii) As used in this section, the term "point-of-service" means indemnifying or paying on behalf of an enrollee for covered healthcare services on a nonemergency, self-referred basis obtained from providers who are not employed by, under contract with, or otherwise affiliated with, the health maintenance organization, or services obtained from providers affiliated with the health maintenance organization without proper referrals; and (7) The contracting with providers located out of state who are properly licensed to render medical care in the jurisdiction in which such a provider is located. (b) (1) (A) A health maintenance organization shall file notice, with adequate supporting information, with the commissioner prior to each exercise of any power granted in subdivision (a)(1) or subdivision (a)(2) of this section. (B) The commissioner shall disapprove the exercise of power if in his or her opinion it would substantially and adversely affect the financial soundness of the health maintenance organization and endanger its ability to meet its obligations. (C) If the commissioner does not disapprove within sixty (60) days of the filing, the exercise of power shall be deemed approved. (2) The commissioner may promulgate rules exempting from the filing requirement of subdivision (b)(1) of this section those activities having a de minimis effect. Amended by Act 2019, No. 315,§ 2701, eff. 7/24/2019. Acts 1975, No. 454, § 5; A.S.A. 1947, § 66-5205; Acts 1995, No. 1272, § 16; 1999, No. 881, § 11.

(a) The powers of a health maintenance organization include, but are not limited to, the following: (1) The purchase, lease, construction, renovation, operation, or maintenance of hospitals, medical facilities, or both, and their ancillary equipment, and the property as may reasonably be required for its principal office or for other purposes as may be necessary in the transaction of the business of the health maintenance organization; (2) The making of loans to a medical group under contract with it in furtherance of its program or the making of loans to a corporation or corporations under its control for the purpose of acquiring or constructing medical facilities and hospitals or in furtherance of a program providing healthcare services to enrollees; (3) The furnishing of healthcare services through providers which are under contract with the health maintenance organization; (4) The contracting with any person for the performance on its behalf of certain functions such as marketing, enrollment, and administration; (5) The contracting with an insurance company licensed in this state, or with a hospital or medical service corporation authorized to do business in this state, for the provision of insurance, indemnity, or reimbursement against the cost of healthcare services provided by the health maintenance organization; (6) The offering, in addition to basic healthcare services, of: (A) Additional healthcare services; (B) Indemnity benefits covering out-of-area or emergency services, and special services not provided on a direct service basis; and (C) (i) Indemnity benefits on a point-of-service basis within such limits as may be prescribed by the Insurance Commissioner. (ii) As used in this section, the term "point-of-service" means indemnifying or paying on behalf of an enrollee for covered healthcare services on a nonemergency, self-referred basis obtained from providers who are not employed by, under contract with, or otherwise affiliated with, the health maintenance organization, or services obtained from providers affiliated with the health maintenance organization without proper referrals; and (7) The contracting with providers located out of state who are properly licensed to render medical care in the jurisdiction in which such a provider is located.

(1) The purchase, lease, construction, renovation, operation, or maintenance of hospitals, medical facilities, or both, and their ancillary equipment, and the property as may reasonably be required for its principal office or for other purposes as may be necessary in the transaction of the business of the health maintenance organization;

(2) The making of loans to a medical group under contract with it in furtherance of its program or the making of loans to a corporation or corporations under its control for the purpose of acquiring or constructing medical facilities and hospitals or in furtherance of a program providing healthcare services to enrollees;

(3) The furnishing of healthcare services through providers which are under contract with the health maintenance organization;

(4) The contracting with any person for the performance on its behalf of certain functions such as marketing, enrollment, and administration;

(5) The contracting with an insurance company licensed in this state, or with a hospital or medical service corporation authorized to do business in this state, for the provision of insurance, indemnity, or reimbursement against the cost of healthcare services provided by the health maintenance organization;

(6) The offering, in addition to basic healthcare services, of: (A) Additional healthcare services; (B) Indemnity benefits covering out-of-area or emergency services, and special services not provided on a direct service basis; and (C) (i) Indemnity benefits on a point-of-service basis within such limits as may be prescribed by the Insurance Commissioner. (ii) As used in this section, the term "point-of-service" means indemnifying or paying on behalf of an enrollee for covered healthcare services on a nonemergency, self-referred basis obtained from providers who are not employed by, under contract with, or otherwise affiliated with, the health maintenance organization, or services obtained from providers affiliated with the health maintenance organization without proper referrals; and

(A) Additional healthcare services;

(B) Indemnity benefits covering out-of-area or emergency services, and special services not provided on a direct service basis; and

(C) (i) Indemnity benefits on a point-of-service basis within such limits as may be prescribed by the Insurance Commissioner. (ii) As used in this section, the term "point-of-service" means indemnifying or paying on behalf of an enrollee for covered healthcare services on a nonemergency, self-referred basis obtained from providers who are not employed by, under contract with, or otherwise affiliated with, the health maintenance organization, or services obtained from providers affiliated with the health maintenance organization without proper referrals; and

(i) Indemnity benefits on a point-of-service basis within such limits as may be prescribed by the Insurance Commissioner.

(ii) As used in this section, the term "point-of-service" means indemnifying or paying on behalf of an enrollee for covered healthcare services on a nonemergency, self-referred basis obtained from providers who are not employed by, under contract with, or otherwise affiliated with, the health maintenance organization, or services obtained from providers affiliated with the health maintenance organization without proper referrals; and

(7) The contracting with providers located out of state who are properly licensed to render medical care in the jurisdiction in which such a provider is located.

(b) (1) (A) A health maintenance organization shall file notice, with adequate supporting information, with the commissioner prior to each exercise of any power granted in subdivision (a)(1) or subdivision (a)(2) of this section. (B) The commissioner shall disapprove the exercise of power if in his or her opinion it would substantially and adversely affect the financial soundness of the health maintenance organization and endanger its ability to meet its obligations. (C) If the commissioner does not disapprove within sixty (60) days of the filing, the exercise of power shall be deemed approved. (2) The commissioner may promulgate rules exempting from the filing requirement of subdivision (b)(1) of this section those activities having a de minimis effect.

(1) (A) A health maintenance organization shall file notice, with adequate supporting information, with the commissioner prior to each exercise of any power granted in subdivision (a)(1) or subdivision (a)(2) of this section. (B) The commissioner shall disapprove the exercise of power if in his or her opinion it would substantially and adversely affect the financial soundness of the health maintenance organization and endanger its ability to meet its obligations. (C) If the commissioner does not disapprove within sixty (60) days of the filing, the exercise of power shall be deemed approved.

(A) A health maintenance organization shall file notice, with adequate supporting information, with the commissioner prior to each exercise of any power granted in subdivision (a)(1) or subdivision (a)(2) of this section.

(B) The commissioner shall disapprove the exercise of power if in his or her opinion it would substantially and adversely affect the financial soundness of the health maintenance organization and endanger its ability to meet its obligations.

(C) If the commissioner does not disapprove within sixty (60) days of the filing, the exercise of power shall be deemed approved.

(2) The commissioner may promulgate rules exempting from the filing requirement of subdivision (b)(1) of this section those activities having a de minimis effect.

Amended by Act 2019, No. 315,§ 2701, eff. 7/24/2019.

Acts 1975, No. 454, § 5; A.S.A. 1947, § 66-5205; Acts 1995, No. 1272, § 16; 1999, No. 881, § 11.
Ark. Code Ann. § 23-81-705 — AR Code / Title 23 / Chapter 81 / Subchapter 7 / Section 23-81-705
Effects of transfer of structured settlement payment rights
Status: in_force

Following a transfer of structured settlement payment rights under this subchapter: (1) The structured settlement obligor and the annuity issuer shall be discharged and released from all liability for the transferred payments as to all parties except the transferee; (2) The transferee shall be liable to the structured settlement obligor and the annuity issuer: (A) If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and (B) For any other liabilities or costs, including reasonable costs and attorney's fees, arising from compliance by the parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with this subchapter; (3) Neither the annuity issuer nor the structured settlement obligor may be required to divide any periodic payment between the payee and any transferee or assignee or between two (2) or more transferees or assignees; and (4) Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of this subchapter. Acts 2005, No. 2215, § 1.

Following a transfer of structured settlement payment rights under this subchapter:

(1) The structured settlement obligor and the annuity issuer shall be discharged and released from all liability for the transferred payments as to all parties except the transferee;

(2) The transferee shall be liable to the structured settlement obligor and the annuity issuer: (A) If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and (B) For any other liabilities or costs, including reasonable costs and attorney's fees, arising from compliance by the parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with this subchapter;

(A) If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and

(B) For any other liabilities or costs, including reasonable costs and attorney's fees, arising from compliance by the parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with this subchapter;

(3) Neither the annuity issuer nor the structured settlement obligor may be required to divide any periodic payment between the payee and any transferee or assignee or between two (2) or more transferees or assignees; and

(4) Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of this subchapter.

Acts 2005, No. 2215, § 1.
Ark. Code Ann. § 23-78-123 — AR Code / Title 23 / Chapter 78 / Section 23-78-123
Disposition of fees and charges
Status: in_force

(a) (1) All fees and charges collected by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services under this chapter shall be deposited into a cash fund deposited to the State Treasury. (2) The board is empowered to expend the funds for the requirements, purposes, and expenses of the board under the provisions of this chapter, upon a voucher approved by the board and signed by the Insurance Commissioner or his or her designee, provided that the total expense for every purpose incurred shall not exceed the total fees and charges collected by the board under the provisions of this chapter. (b) The operation of the board and the carrying out of the functions set out in this chapter shall be at no expense to the State of Arkansas. Amended by Act 2017, No. 788,§ 88, eff. 7/1/2018. Acts 1953, No. 91, § 15; A.S.A. 1947, § 66-1815.

(a) (1) All fees and charges collected by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services under this chapter shall be deposited into a cash fund deposited to the State Treasury. (2) The board is empowered to expend the funds for the requirements, purposes, and expenses of the board under the provisions of this chapter, upon a voucher approved by the board and signed by the Insurance Commissioner or his or her designee, provided that the total expense for every purpose incurred shall not exceed the total fees and charges collected by the board under the provisions of this chapter.

(1) All fees and charges collected by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services under this chapter shall be deposited into a cash fund deposited to the State Treasury.

(2) The board is empowered to expend the funds for the requirements, purposes, and expenses of the board under the provisions of this chapter, upon a voucher approved by the board and signed by the Insurance Commissioner or his or her designee, provided that the total expense for every purpose incurred shall not exceed the total fees and charges collected by the board under the provisions of this chapter.

(b) The operation of the board and the carrying out of the functions set out in this chapter shall be at no expense to the State of Arkansas.

Amended by Act 2017, No. 788,§ 88, eff. 7/1/2018.

Acts 1953, No. 91, § 15; A.S.A. 1947, § 66-1815.
Ark. Code Ann. § 23-17-230 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-230
Taxation - Exemptions
Status: in_force

Cooperatives formed under this subchapter shall continue to be exempt from all other excise taxes of whatsoever kind or nature except the Arkansas gross receipts tax under the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., and the Arkansas compensating tax under the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq. Acts 1951, No. 51, § 31; 1969, No. 395, § 1; A.S.A. 1947, § 77-1631; Acts 1989, No. 437, § 19.

Cooperatives formed under this subchapter shall continue to be exempt from all other excise taxes of whatsoever kind or nature except the Arkansas gross receipts tax under the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., and the Arkansas compensating tax under the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq.

Acts 1951, No. 51, § 31; 1969, No. 395, § 1; A.S.A. 1947, § 77-1631; Acts 1989, No. 437, § 19.
Ark. Code Ann. § 23-68-118 — AR Code / Title 23 / Chapter 68 / Section 23-68-118
Form of claim - Notice - Hearing
Status: in_force

(1) All claims against an insurer against which delinquency proceedings have been begun shall set forth in reasonable detail the amount of the claim, or the basis upon which such amount can be ascertained, the facts upon which the claim is based, and the priorities asserted, if any. All such claims shall be verified by the affidavit of the claimant, or someone authorized to act on his or her behalf and having knowledge of the facts, and shall be supported by such documents as may be material thereto. (2) All claims filed in this state shall be filed with the receiver, whether domiciliary or ancillary, in this state, on or before the last date for filing as specified in this chapter. (3) Within ten (10) days of the receipt of any claim, or within such further period as the court may, for good cause shown, fix, the receiver shall report the claim to the court, specifying in such report his or her recommendation with respect to the action to be taken thereon. Upon receipt of such report, the court shall fix a time for hearing the claim and shall direct that the claimant or the receiver, as the court shall specify, shall give such notice as the court shall determine to such persons as shall appear to the court to be interested therein. All such notices shall specify the time and place of the hearing and shall concisely state the amount and nature of the claim, the priorities asserted, if any, and the recommendation of the receiver with reference thereto. (4) At the hearing, all persons interested shall be entitled to appear, and the court shall enter an order allowing, allowing in part, or disallowing the claim. Any such order shall be deemed to be an appealable order. Acts 1959, No. 148, § 655; A.S.A. 1947, § 66-4818.

(1) All claims against an insurer against which delinquency proceedings have been begun shall set forth in reasonable detail the amount of the claim, or the basis upon which such amount can be ascertained, the facts upon which the claim is based, and the priorities asserted, if any. All such claims shall be verified by the affidavit of the claimant, or someone authorized to act on his or her behalf and having knowledge of the facts, and shall be supported by such documents as may be material thereto.

(2) All claims filed in this state shall be filed with the receiver, whether domiciliary or ancillary, in this state, on or before the last date for filing as specified in this chapter.

(3) Within ten (10) days of the receipt of any claim, or within such further period as the court may, for good cause shown, fix, the receiver shall report the claim to the court, specifying in such report his or her recommendation with respect to the action to be taken thereon. Upon receipt of such report, the court shall fix a time for hearing the claim and shall direct that the claimant or the receiver, as the court shall specify, shall give such notice as the court shall determine to such persons as shall appear to the court to be interested therein. All such notices shall specify the time and place of the hearing and shall concisely state the amount and nature of the claim, the priorities asserted, if any, and the recommendation of the receiver with reference thereto.

(4) At the hearing, all persons interested shall be entitled to appear, and the court shall enter an order allowing, allowing in part, or disallowing the claim. Any such order shall be deemed to be an appealable order.

Acts 1959, No. 148, § 655; A.S.A. 1947, § 66-4818.
Ark. Code Ann. § 23-47-708 — AR Code / Title 23 / Chapter 47 / Subchapter 7 / Section 23-47-708
Surrender of authorization - Board resolution - Commissioner certification - Activities affected
Status: in_force

(a) (1) Any state bank desiring to surrender its right to operate a trust department and to exercise the powers granted under this subchapter, in order to relieve itself of the necessity of complying with the requirements of this subchapter, or to have returned to it any securities which it may have deposited with the state and local authorities for the protection of private or court trusts, or for any other purpose, may file with the Bank Commissioner a certified copy of a resolution of its board of directors signifying the desire. (2) Upon receipt of the resolution, the commissioner, after satisfying himself or herself that the bank has been relieved in accordance with Arkansas law of all duties as trustee, executor, administrator, custodian, registrar, paying agent or transfer agent of stocks or bonds, guardian of estates, assignee, receiver, or other fiduciary, under court, private, or other appointments previously accepted under authority of this subchapter may, in his or her discretion, issue to the bank a certificate certifying that the bank is no longer authorized to operate a trust department and exercise the powers granted by this subchapter. (b) Upon the issuance of a certificate by the commissioner certifying that a state bank is no longer authorized to operate a trust department, the bank: (1) Shall no longer operate a trust department or be subject to the provisions of this subchapter or State Bank Department rules made pursuant thereto; (2) Shall be entitled to have returned to it any securities which it may have deposited with state or local authorities for the protection of private or court trusts; and (3) Shall not operate a trust department or exercise thereafter any of the powers granted by this subchapter without first applying for and obtaining a new permit to operate a trust department to exercise such powers pursuant to the provisions of this subchapter. Amended by Act 2019, No. 315,§ 2539, eff. 7/24/2019. Acts 1997, No. 89, § 1.

(a) (1) Any state bank desiring to surrender its right to operate a trust department and to exercise the powers granted under this subchapter, in order to relieve itself of the necessity of complying with the requirements of this subchapter, or to have returned to it any securities which it may have deposited with the state and local authorities for the protection of private or court trusts, or for any other purpose, may file with the Bank Commissioner a certified copy of a resolution of its board of directors signifying the desire. (2) Upon receipt of the resolution, the commissioner, after satisfying himself or herself that the bank has been relieved in accordance with Arkansas law of all duties as trustee, executor, administrator, custodian, registrar, paying agent or transfer agent of stocks or bonds, guardian of estates, assignee, receiver, or other fiduciary, under court, private, or other appointments previously accepted under authority of this subchapter may, in his or her discretion, issue to the bank a certificate certifying that the bank is no longer authorized to operate a trust department and exercise the powers granted by this subchapter.

(1) Any state bank desiring to surrender its right to operate a trust department and to exercise the powers granted under this subchapter, in order to relieve itself of the necessity of complying with the requirements of this subchapter, or to have returned to it any securities which it may have deposited with the state and local authorities for the protection of private or court trusts, or for any other purpose, may file with the Bank Commissioner a certified copy of a resolution of its board of directors signifying the desire.

(2) Upon receipt of the resolution, the commissioner, after satisfying himself or herself that the bank has been relieved in accordance with Arkansas law of all duties as trustee, executor, administrator, custodian, registrar, paying agent or transfer agent of stocks or bonds, guardian of estates, assignee, receiver, or other fiduciary, under court, private, or other appointments previously accepted under authority of this subchapter may, in his or her discretion, issue to the bank a certificate certifying that the bank is no longer authorized to operate a trust department and exercise the powers granted by this subchapter.

(b) Upon the issuance of a certificate by the commissioner certifying that a state bank is no longer authorized to operate a trust department, the bank: (1) Shall no longer operate a trust department or be subject to the provisions of this subchapter or State Bank Department rules made pursuant thereto; (2) Shall be entitled to have returned to it any securities which it may have deposited with state or local authorities for the protection of private or court trusts; and (3) Shall not operate a trust department or exercise thereafter any of the powers granted by this subchapter without first applying for and obtaining a new permit to operate a trust department to exercise such powers pursuant to the provisions of this subchapter.

(1) Shall no longer operate a trust department or be subject to the provisions of this subchapter or State Bank Department rules made pursuant thereto;

(2) Shall be entitled to have returned to it any securities which it may have deposited with state or local authorities for the protection of private or court trusts; and

(3) Shall not operate a trust department or exercise thereafter any of the powers granted by this subchapter without first applying for and obtaining a new permit to operate a trust department to exercise such powers pursuant to the provisions of this subchapter.

Amended by Act 2019, No. 315,§ 2539, eff. 7/24/2019.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-112-701 — AR Code / Title 23 / Chapter 112 / Subchapter 7 / Section 23-112-701
When delivery accomplished
Status: in_force

"Delivery" of a motor vehicle to a dealer by a manufacturer or distributor for the purposes of this section shall be accomplished by the: (1) Tender of the motor vehicle and any documents necessary to enable the dealer to obtain title and possession of the motor vehicle at the dealer's place of business or designated place of delivery; and (2) Giving of notice of the tender of the motor vehicle and documents to the dealer. Acts 1991, No. 952, § 1.

"Delivery" of a motor vehicle to a dealer by a manufacturer or distributor for the purposes of this section shall be accomplished by the:

(1) Tender of the motor vehicle and any documents necessary to enable the dealer to obtain title and possession of the motor vehicle at the dealer's place of business or designated place of delivery; and

(2) Giving of notice of the tender of the motor vehicle and documents to the dealer.

Acts 1991, No. 952, § 1.
Ark. Code Ann. § 23-18-1209 — AR Code / Title 23 / Chapter 18 / Subchapter 12 / Section 23-18-1209
Submission of mapping information to Arkansas Geographic Information Systems Office required
Status: in_force

(a) A local entity shall coordinate with the Arkansas Geographic Information Systems Office to provide mapping information to the Arkansas Spatial Data Infrastructure for preparation of legal descriptions and digital mapping for the relevant incorporated or unincorporated areas. (b) A local entity that has been awarded a state or federal grant or loan shall provide information concerning broadband mapping to the office in compliance with the Arkansas Geographic Information Systems Office Policy Statement PS-01, Arkansas Spatial Data Infrastructure Data Loading and Retirement Procedures. Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.

(a) A local entity shall coordinate with the Arkansas Geographic Information Systems Office to provide mapping information to the Arkansas Spatial Data Infrastructure for preparation of legal descriptions and digital mapping for the relevant incorporated or unincorporated areas.

(b) A local entity that has been awarded a state or federal grant or loan shall provide information concerning broadband mapping to the office in compliance with the Arkansas Geographic Information Systems Office Policy Statement PS-01, Arkansas Spatial Data Infrastructure Data Loading and Retirement Procedures.

Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.
Ark. Code Ann. § 23-19-208 — AR Code / Title 23 / Chapter 19 / Subchapter 2 / Section 23-19-208
Customer service standards
Status: in_force

(a) A video service provider shall comply with the customer service requirements under 47 C.F.R. § 76.309(c) , as it existed on January 1, 2013. (b) (1) A video service provider shall maintain a local or toll-free number for customer service contact. (2) (A) A video service provider shall implement an informal process for handling political subdivision or customer inquiries, billing issues, service issues, and other complaints. (B) If an issue is not resolved through the informal process under subdivision (b)(2)(A) of this section, a political subdivision may request a confidential, nonbinding mediation with the video service provider, with the costs of the mediation to be shared equally between the political subdivision and the video service provider. (c) (1) A video service provider shall notify customers in writing of a change in rates, programming services, or channel positions as soon as possible. (2) Written notice shall be given to subscribers at least thirty (30) days in advance of the change if the change is within the control of the video service provider. Added by Act 2013, No. 276,§ 2, eff. 3/6/2013.

(a) A video service provider shall comply with the customer service requirements under 47 C.F.R. § 76.309(c) , as it existed on January 1, 2013.

(b) (1) A video service provider shall maintain a local or toll-free number for customer service contact. (2) (A) A video service provider shall implement an informal process for handling political subdivision or customer inquiries, billing issues, service issues, and other complaints. (B) If an issue is not resolved through the informal process under subdivision (b)(2)(A) of this section, a political subdivision may request a confidential, nonbinding mediation with the video service provider, with the costs of the mediation to be shared equally between the political subdivision and the video service provider.

(1) A video service provider shall maintain a local or toll-free number for customer service contact.

(2) (A) A video service provider shall implement an informal process for handling political subdivision or customer inquiries, billing issues, service issues, and other complaints. (B) If an issue is not resolved through the informal process under subdivision (b)(2)(A) of this section, a political subdivision may request a confidential, nonbinding mediation with the video service provider, with the costs of the mediation to be shared equally between the political subdivision and the video service provider.

(A) A video service provider shall implement an informal process for handling political subdivision or customer inquiries, billing issues, service issues, and other complaints.

(B) If an issue is not resolved through the informal process under subdivision (b)(2)(A) of this section, a political subdivision may request a confidential, nonbinding mediation with the video service provider, with the costs of the mediation to be shared equally between the political subdivision and the video service provider.

(c) (1) A video service provider shall notify customers in writing of a change in rates, programming services, or channel positions as soon as possible. (2) Written notice shall be given to subscribers at least thirty (30) days in advance of the change if the change is within the control of the video service provider.

(1) A video service provider shall notify customers in writing of a change in rates, programming services, or channel positions as soon as possible.

(2) Written notice shall be given to subscribers at least thirty (30) days in advance of the change if the change is within the control of the video service provider.

Added by Act 2013, No. 276,§ 2, eff. 3/6/2013.
Ark. Code Ann. § 23-111-408 — AR Code / Title 23 / Chapter 111 / Subchapter 4 / Section 23-111-408
Intergovernmental cooperation
Status: in_force

The Arkansas Racing Commission is authorized to cooperate with and share information with federal officers and agencies and with officers and agencies of this state and subdivisions thereof and officers and agencies of other states and subdivisions, to the extent that the commission deems necessary or helpful to it in carrying out the purposes of §§ 23-111-401 - 23-111-405 , 23-111-407 , and 23-111-409 . Acts 1968 (2nd Ex. Sess.), No. 8, § 6; A.S.A. 1947, § 84-2823.6.

The Arkansas Racing Commission is authorized to cooperate with and share information with federal officers and agencies and with officers and agencies of this state and subdivisions thereof and officers and agencies of other states and subdivisions, to the extent that the commission deems necessary or helpful to it in carrying out the purposes of §§ 23-111-401 - 23-111-405 , 23-111-407 , and 23-111-409 .

Acts 1968 (2nd Ex. Sess.), No. 8, § 6; A.S.A. 1947, § 84-2823.6.
Ark. Code Ann. § 23-37-302 — AR Code / Title 23 / Chapter 37 / Subchapter 3 / Section 23-37-302
Capitalization requirements generally
Status: in_force

The capitalization of a proposed stock or mutual association shall be in accordance with rules established by the Savings and Loan Association Board [abolished]. In establishing its requirements, the board may consider those requirements established by the Federal Savings and Loan Insurance Corporation [abolished], but its requirements may not be greater than those prescribed by that corporation. Amended by Act 2019, No. 315,§ 2495, eff. 7/24/2019. Acts 1963, No. 227, § 19; 1979, No. 361, § 6; A.S.A. 1947, § 67-1819.

The capitalization of a proposed stock or mutual association shall be in accordance with rules established by the Savings and Loan Association Board [abolished]. In establishing its requirements, the board may consider those requirements established by the Federal Savings and Loan Insurance Corporation [abolished], but its requirements may not be greater than those prescribed by that corporation.

Amended by Act 2019, No. 315,§ 2495, eff. 7/24/2019.

Acts 1963, No. 227, § 19; 1979, No. 361, § 6; A.S.A. 1947, § 67-1819.
Ark. Code Ann. § 23-10-427 — AR Code / Title 23 / Chapter 10 / Subchapter 4 / Section 23-10-427
Storage of freight after failure to unload - Charges
Status: in_force

Incoming carload freight coming under the provisions of §§ 23-10-425 and 23-10-426 may be stored by railroad companies in depots or warehouses at the expense of the owner if the freight is not removed before demurrage charges attach. However, the daily storage charge on the freight shall not exceed one dollar ($1.00) per day. Acts 1907, No. 193, § 13, p. 453; C. & M. Dig., § 908; Pope's Dig., § 1112; A.S.A. 1947, § 73-1322.

Incoming carload freight coming under the provisions of §§ 23-10-425 and 23-10-426 may be stored by railroad companies in depots or warehouses at the expense of the owner if the freight is not removed before demurrage charges attach. However, the daily storage charge on the freight shall not exceed one dollar ($1.00) per day.

Acts 1907, No. 193, § 13, p. 453; C. & M. Dig., § 908; Pope's Dig., § 1112; A.S.A. 1947, § 73-1322.
Ark. Code Ann. § 23-4-104 — AR Code / Title 23 / Chapter 4 / Subchapter 1 / Section 23-4-104
Charges, rates, etc., to be just, reasonable, and in compliance with Acts 1919, No. 571, and Acts 1921, No. 124
Status: in_force

(a) All charges, tolls, fares, and rates shall be just and reasonable. (b) No charge shall be made in any tariffs, rates, fares, tolls, schedules, or classifications except as provided in this act. Acts 1919, No. 571, § 6; C. & M. Dig., § 1611; Acts 1921, No. 124, § 4; Pope's Dig., § 2003; A.S.A. 1947, § 73-116.

(a) All charges, tolls, fares, and rates shall be just and reasonable.

(b) No charge shall be made in any tariffs, rates, fares, tolls, schedules, or classifications except as provided in this act.

Acts 1919, No. 571, § 6; C. & M. Dig., § 1611; Acts 1921, No. 124, § 4; Pope's Dig., § 2003; A.S.A. 1947, § 73-116.
Ark. Code Ann. § 23-90-106 — AR Code / Title 23 / Chapter 90 / Section 23-90-106
Arkansas Property and Casualty Advisory Association - Creation - Members
Status: in_force

(a) (1) There is created by this chapter an advisory association to be known as the "Arkansas Property and Casualty Advisory Association", herein called the "advisory association" to be composed of eight (8) insurers. (2) The Insurance Commissioner shall appoint the insurers who will serve as the initial advisory association. Subsequent members of the advisory association shall serve for terms of office of four (4) years and shall be appointed by the commissioner for terms of four (4) years. (b) The members of the advisory association shall be chosen to afford fair representation to all insurers subject to this chapter giving due consideration to the various categories of premium income, geographical location, and segments of the industry represented in Arkansas. (c) Vacancies on the advisory association shall be filled for the remaining period of the term in the same manner as other appointments. (d) Members shall serve until their successors are appointed. (e) Members shall serve without pay but may receive expense reimbursement in accordance with § 25-16-901 et seq. Acts 1977, No. 871, § 14; 1983, No. 522, § 39; A.S.A. 1947, § 66-5514; Acts 1987, No. 738, § 6; 1997, No. 250, § 225.

(a) (1) There is created by this chapter an advisory association to be known as the "Arkansas Property and Casualty Advisory Association", herein called the "advisory association" to be composed of eight (8) insurers. (2) The Insurance Commissioner shall appoint the insurers who will serve as the initial advisory association. Subsequent members of the advisory association shall serve for terms of office of four (4) years and shall be appointed by the commissioner for terms of four (4) years.

(1) There is created by this chapter an advisory association to be known as the "Arkansas Property and Casualty Advisory Association", herein called the "advisory association" to be composed of eight (8) insurers.

(2) The Insurance Commissioner shall appoint the insurers who will serve as the initial advisory association. Subsequent members of the advisory association shall serve for terms of office of four (4) years and shall be appointed by the commissioner for terms of four (4) years.

(b) The members of the advisory association shall be chosen to afford fair representation to all insurers subject to this chapter giving due consideration to the various categories of premium income, geographical location, and segments of the industry represented in Arkansas.

(c) Vacancies on the advisory association shall be filled for the remaining period of the term in the same manner as other appointments.

(d) Members shall serve until their successors are appointed.

(e) Members shall serve without pay but may receive expense reimbursement in accordance with § 25-16-901 et seq.

Acts 1977, No. 871, § 14; 1983, No. 522, § 39; A.S.A. 1947, § 66-5514; Acts 1987, No. 738, § 6; 1997, No. 250, § 225.
Ark. Code Ann. § 23-76-102 — AR Code / Title 23 / Chapter 76 / Section 23-76-102
Definitions
Status: in_force

As used in this chapter: (1) "Commissioner" means the Insurance Commissioner; (2) "Domestic corporation" means any corporation organized pursuant to the Arkansas Business Corporation Act, § 4-26-101 et seq., and the Arkansas Nonprofit Corporation Act, § 4-28-201 et seq.; (3) "Enrollee" means an individual who has been enrolled in a healthcare plan; (4) "Evidence of coverage" means any certificate, agreement, contract, identification card, or document issued to an enrollee setting out the coverage to which the enrollee is entitled; (5) "Healthcare plan" means any arrangement whereby any person undertakes to provide, arrange for, pay for, or reimburse any part of the cost of any healthcare services through an individually underwritten or group master contract, and at least part of the arrangement consists of arranging for, or the provision of, healthcare services as distinguished from mere indemnification against the cost of the services on a prepaid basis through insurance or otherwise; (6) "Healthcare services" means any services included in the furnishing to any individual of medical or dental care, or hospitalization, or services incident to the furnishing of care or hospitalization, as well as the furnishing to any person of all other services or goods for the purpose of preventing, alleviating, curing, or healing human illness or injury; (7) "Health maintenance organization" means any person which undertakes to provide or arrange for one (1) or more healthcare plans; (8) "Health professional" means physicians, dentists, optometrists, nurses, podiatrists, pharmacists, and other individuals engaged in the delivery of health services as are or may be designated under the Health Maintenance Organization Act of 1973 or any amendment thereto or regulation adopted thereunder; (9) "Person" means any natural or artificial person, including, but not limited to, individuals, partnerships, associations, trusts, or corporations; and (10) "Provider" means any person who is licensed in this state to furnish healthcare services as a health professional. Acts 1975, No. 454, § 2; A.S.A. 1947, § 66-5202; Acts 1987, No. 456, § 21; 2005, No. 1697, § 20.

As used in this chapter:

(1) "Commissioner" means the Insurance Commissioner;

(2) "Domestic corporation" means any corporation organized pursuant to the Arkansas Business Corporation Act, § 4-26-101 et seq., and the Arkansas Nonprofit Corporation Act, § 4-28-201 et seq.;

(3) "Enrollee" means an individual who has been enrolled in a healthcare plan;

(4) "Evidence of coverage" means any certificate, agreement, contract, identification card, or document issued to an enrollee setting out the coverage to which the enrollee is entitled;

(5) "Healthcare plan" means any arrangement whereby any person undertakes to provide, arrange for, pay for, or reimburse any part of the cost of any healthcare services through an individually underwritten or group master contract, and at least part of the arrangement consists of arranging for, or the provision of, healthcare services as distinguished from mere indemnification against the cost of the services on a prepaid basis through insurance or otherwise;

(6) "Healthcare services" means any services included in the furnishing to any individual of medical or dental care, or hospitalization, or services incident to the furnishing of care or hospitalization, as well as the furnishing to any person of all other services or goods for the purpose of preventing, alleviating, curing, or healing human illness or injury;

(7) "Health maintenance organization" means any person which undertakes to provide or arrange for one (1) or more healthcare plans;

(8) "Health professional" means physicians, dentists, optometrists, nurses, podiatrists, pharmacists, and other individuals engaged in the delivery of health services as are or may be designated under the Health Maintenance Organization Act of 1973 or any amendment thereto or regulation adopted thereunder;

(9) "Person" means any natural or artificial person, including, but not limited to, individuals, partnerships, associations, trusts, or corporations; and

(10) "Provider" means any person who is licensed in this state to furnish healthcare services as a health professional.

Acts 1975, No. 454, § 2; A.S.A. 1947, § 66-5202; Acts 1987, No. 456, § 21; 2005, No. 1697, § 20.
Ark. Code Ann. § 23-76-122 — AR Code / Title 23 / Chapter 76 / Section 23-76-122
Examinations
Status: in_force

(a) The Insurance Commissioner may make an examination of the affairs of any health maintenance organization as often as he or she deems it necessary for the protection of the interests of the people of this state but not less frequently than one (1) time every five (5) years. (b) The commissioner may make an examination concerning the quality of healthcare services of any health maintenance organization as often as he or she deems it necessary for the protection of the interests of the people of this state but not less frequently than one (1) time every five (5) years. (c) (1) Every health maintenance organization shall submit its books and records relating to the healthcare plan to the examinations and in every way facilitate them. (2) For the purpose of examinations, the commissioner may administer oaths to and examine the officers and agents of the health maintenance organization. (3) Medical records of individuals and records of physicians and hospitals providing services under a contract to the health maintenance organization shall be subject to the examination. (d) The expenses of examinations under this section shall be assessed against the health maintenance organization being examined and remitted to the commissioner. (e) In lieu of the examination, the commissioner may accept the report of an examination made by the insurance commissioner of another state or director of the department of health of another state. (f) (1) Any examination under this section that is to commence within one (1) year prior to the date a health maintenance organization shall cease to provide healthcare services in this state, may be reduced in scope or waived in its entirety, upon application of the health maintenance organization and approval of the commissioner. (2) The commissioner shall consider the following in determining whether a full or partial waiver may be granted: (A) Claims payment history; (B) Consumer complaint history; and (C) Financial condition. (3) [Repealed.] Amended by Act 2023, No. 469,§ 11, eff. 8/1/2023. Amended by Act 2023, No. 469,§ 10, eff. 8/1/2023. Amended by Act 2013, No. 1433,§ 7, eff. 8/16/2013. Acts 1975, No. 454, § 18; A.S.A. 1947, § 66-5218; Acts 2001, No. 1605, § 8.

(a) The Insurance Commissioner may make an examination of the affairs of any health maintenance organization as often as he or she deems it necessary for the protection of the interests of the people of this state but not less frequently than one (1) time every five (5) years.

(b) The commissioner may make an examination concerning the quality of healthcare services of any health maintenance organization as often as he or she deems it necessary for the protection of the interests of the people of this state but not less frequently than one (1) time every five (5) years.

(c) (1) Every health maintenance organization shall submit its books and records relating to the healthcare plan to the examinations and in every way facilitate them. (2) For the purpose of examinations, the commissioner may administer oaths to and examine the officers and agents of the health maintenance organization. (3) Medical records of individuals and records of physicians and hospitals providing services under a contract to the health maintenance organization shall be subject to the examination.

(1) Every health maintenance organization shall submit its books and records relating to the healthcare plan to the examinations and in every way facilitate them.

(2) For the purpose of examinations, the commissioner may administer oaths to and examine the officers and agents of the health maintenance organization.

(3) Medical records of individuals and records of physicians and hospitals providing services under a contract to the health maintenance organization shall be subject to the examination.

(d) The expenses of examinations under this section shall be assessed against the health maintenance organization being examined and remitted to the commissioner.

(e) In lieu of the examination, the commissioner may accept the report of an examination made by the insurance commissioner of another state or director of the department of health of another state.

(f) (1) Any examination under this section that is to commence within one (1) year prior to the date a health maintenance organization shall cease to provide healthcare services in this state, may be reduced in scope or waived in its entirety, upon application of the health maintenance organization and approval of the commissioner. (2) The commissioner shall consider the following in determining whether a full or partial waiver may be granted: (A) Claims payment history; (B) Consumer complaint history; and (C) Financial condition. (3) [Repealed.]

(1) Any examination under this section that is to commence within one (1) year prior to the date a health maintenance organization shall cease to provide healthcare services in this state, may be reduced in scope or waived in its entirety, upon application of the health maintenance organization and approval of the commissioner.

(2) The commissioner shall consider the following in determining whether a full or partial waiver may be granted: (A) Claims payment history; (B) Consumer complaint history; and (C) Financial condition.

(A) Claims payment history;

(B) Consumer complaint history; and

(C) Financial condition.

(3) [Repealed.]

Amended by Act 2023, No. 469,§ 11, eff. 8/1/2023.

Amended by Act 2023, No. 469,§ 10, eff. 8/1/2023.

Amended by Act 2013, No. 1433,§ 7, eff. 8/16/2013.

Acts 1975, No. 454, § 18; A.S.A. 1947, § 66-5218; Acts 2001, No. 1605, § 8.
Ark. Code Ann. § 23-17-206 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-206
Jurisdiction of commission
Status: in_force

Cooperatives doing business in this state pursuant to this subchapter shall be subject to the general jurisdiction of the Arkansas Public Service Commission. Jurisdiction shall be exercised by the commission in the same manner and to the same extent as provided by law for the regulation, supervision, or control of telecommunications companies, subject, however, to all the provisions of this subchapter. Acts 1951, No. 51, § 32; A.S.A. 1947, § 77-1632; Acts 1989, No. 437, § 6.

Cooperatives doing business in this state pursuant to this subchapter shall be subject to the general jurisdiction of the Arkansas Public Service Commission. Jurisdiction shall be exercised by the commission in the same manner and to the same extent as provided by law for the regulation, supervision, or control of telecommunications companies, subject, however, to all the provisions of this subchapter.

Acts 1951, No. 51, § 32; A.S.A. 1947, § 77-1632; Acts 1989, No. 437, § 6.
Ark. Code Ann. § 23-51-133 — AR Code / Title 23 / Chapter 51 / Section 23-51-133
Pledge of assets
Status: in_force

A state trust company may not pledge or create a lien on any of its assets except to secure the repayment of money borrowed or as specifically authorized or required by § 23-51-130 , or by rules adopted under this chapter. An act, deed, conveyance, pledge, or contract in violation of this section is void. Amended by Act 2019, No. 315,§ 2588, eff. 7/24/2019. Acts 1997, No. 940, § 33.

A state trust company may not pledge or create a lien on any of its assets except to secure the repayment of money borrowed or as specifically authorized or required by § 23-51-130 , or by rules adopted under this chapter. An act, deed, conveyance, pledge, or contract in violation of this section is void.

Amended by Act 2019, No. 315,§ 2588, eff. 7/24/2019.

Acts 1997, No. 940, § 33.
Ark. Code Ann. § 23-63-611 — AR Code / Title 23 / Chapter 63 / Subchapter 6 / Section 23-63-611
Asset valuation
Status: in_force

Assets of reporting entities shall be valued in accordance with the following: (1) Bonds and securities shall be valued in accordance with the methods specified in the National Association of Insurance Commissioners' publication as it existed on January 1, 2001, entitled the "Valuation of Securities Manual", prepared by the Securities Valuation Office; (2) Shares of stock shall be valued in accordance with the methods specified in the National Association of Insurance Commissioners' publication as it existed on January 1, 2001, entitled the "Accounting Practices and Procedures Manual"; and (3) Other assets shall be valued as specified by the Insurance Commissioner in a rule, according to § 23-63-601(2) , which method of valuation is not inconsistent with the National Association of Insurance Commissioners' publication as it existed on January 1, 2023, entitled the "Valuation of Securities Manual", prepared by the Capital Markets and Investment Analysis Office. Amended by Act 2023, No. 469,§ 4, eff. 8/1/2023. Amended by Act 2019, No. 315,§ 2635, eff. 7/24/2019. Acts 1959, No. 148, §§ 93, 94; A.S.A. 1947, §§ 66-2512, 66-2513; Acts 1995, No. 1272, § 13; 2001, No. 1566, § 9.

Assets of reporting entities shall be valued in accordance with the following:

(1) Bonds and securities shall be valued in accordance with the methods specified in the National Association of Insurance Commissioners' publication as it existed on January 1, 2001, entitled the "Valuation of Securities Manual", prepared by the Securities Valuation Office;

(2) Shares of stock shall be valued in accordance with the methods specified in the National Association of Insurance Commissioners' publication as it existed on January 1, 2001, entitled the "Accounting Practices and Procedures Manual"; and

(3) Other assets shall be valued as specified by the Insurance Commissioner in a rule, according to § 23-63-601(2) , which method of valuation is not inconsistent with the National Association of Insurance Commissioners' publication as it existed on January 1, 2023, entitled the "Valuation of Securities Manual", prepared by the Capital Markets and Investment Analysis Office.

Amended by Act 2023, No. 469,§ 4, eff. 8/1/2023.

Amended by Act 2019, No. 315,§ 2635, eff. 7/24/2019.

Acts 1959, No. 148, §§ 93, 94; A.S.A. 1947, §§ 66-2512, 66-2513; Acts 1995, No. 1272, § 13; 2001, No. 1566, § 9.
Ark. Code Ann. § 23-35-610 — AR Code / Title 23 / Chapter 35 / Subchapter 6 / Section 23-35-610
Establishment of subsidiary offices
Status: in_force

(a) A credit union shall have the power to establish offices at locations other than its main office if the maintenance of those offices is reasonably necessary to furnish services to its membership. No additional offices shall be established to serve persons who are not entitled to membership, as defined in the common bond provision of the articles of incorporation, and who would not be entitled to services of the credit union at its main office. (b) All books of account shall be maintained at the main office of the credit union. (c) The State Credit Union Supervisor shall grant prior written approval for the establishment of subsidiary offices. He or she shall have the authority to issue notice and hold a public hearing to determine if the establishment of the subsidiary office or offices is necessary and in the best interests of the credit union. Acts 1971, No. 132, § 39; A.S.A. 1947, § 67-939.

(a) A credit union shall have the power to establish offices at locations other than its main office if the maintenance of those offices is reasonably necessary to furnish services to its membership. No additional offices shall be established to serve persons who are not entitled to membership, as defined in the common bond provision of the articles of incorporation, and who would not be entitled to services of the credit union at its main office.

(b) All books of account shall be maintained at the main office of the credit union.

(c) The State Credit Union Supervisor shall grant prior written approval for the establishment of subsidiary offices. He or she shall have the authority to issue notice and hold a public hearing to determine if the establishment of the subsidiary office or offices is necessary and in the best interests of the credit union.

Acts 1971, No. 132, § 39; A.S.A. 1947, § 67-939.
Ark. Code Ann. § 23-51-162 — AR Code / Title 23 / Chapter 51 / Section 23-51-162
When commissioner may take charge
Status: in_force

The Bank Commissioner may forthwith take possession of the business and property of any state trust company to which this chapter is applicable whenever it shall appear that the state trust company: (1) Has violated its charter or any laws applicable thereto; (2) Is conducting its business in an unauthorized or unsafe manner; (3) Is in an unsafe or unsound condition to transact its business; (4) Has an impairment of its capital; (5) Is in a hazardous condition; (6) Has become otherwise insolvent; (7) Has neglected or refused to comply with the terms of a duly issued lawful order of the commissioner; (8) Has refused, upon proper demand, to submit its records, affairs, and concerns for inspection and examination of a duly appointed or authorized examiner of the commissioner; (9) Is employing officers who have refused to be examined upon oath regarding its affairs; or (10) Has made a voluntary assignment of its assets to trustees. Acts 1997, No. 940, § 62.

The Bank Commissioner may forthwith take possession of the business and property of any state trust company to which this chapter is applicable whenever it shall appear that the state trust company:

(1) Has violated its charter or any laws applicable thereto;

(2) Is conducting its business in an unauthorized or unsafe manner;

(3) Is in an unsafe or unsound condition to transact its business;

(4) Has an impairment of its capital;

(5) Is in a hazardous condition;

(6) Has become otherwise insolvent;

(7) Has neglected or refused to comply with the terms of a duly issued lawful order of the commissioner;

(8) Has refused, upon proper demand, to submit its records, affairs, and concerns for inspection and examination of a duly appointed or authorized examiner of the commissioner;

(9) Is employing officers who have refused to be examined upon oath regarding its affairs; or

(10) Has made a voluntary assignment of its assets to trustees.

Acts 1997, No. 940, § 62.
Ark. Code Ann. § 23-4-1006 — AR Code / Title 23 / Chapter 4 / Subchapter 10 / Section 23-4-1006
Applicability
Status: in_force

Nothing in this subchapter shall affect the authority and jurisdiction of the Federal Communications Commission over the rates, terms, and conditions of a pole attachment until after the final certification of the Arkansas Public Service Commission under § 23-4-1005 . Acts 2007, No. 740, § 1.

Nothing in this subchapter shall affect the authority and jurisdiction of the Federal Communications Commission over the rates, terms, and conditions of a pole attachment until after the final certification of the Arkansas Public Service Commission under § 23-4-1005 .

Acts 2007, No. 740, § 1.
Ark. Code Ann. § 23-38-403 — AR Code / Title 23 / Chapter 38 / Subchapter 4 / Section 23-38-403
[Repealed]
Status: repealed

Repealed by Act 2013, No. 1144,§ 4, eff. 8/16/2013. Acts 1929, No. 128, § 45, as added by Acts 1931, No. 236, § 18; Pope's Dig., § 1022; A.S.A. 1947, § 67-866; Acts 2005, No. 1994, § 434.

Repealed by Act 2013, No. 1144,§ 4, eff. 8/16/2013.

Acts 1929, No. 128, § 45, as added by Acts 1931, No. 236, § 18; Pope's Dig., § 1022; A.S.A. 1947, § 67-866; Acts 2005, No. 1994, § 434.
Ark. Code Ann. § 23-4-633 — AR Code / Title 23 / Chapter 4 / Subchapter 6 / Section 23-4-633
Petition for mandamus
Status: in_force

If the Arkansas Department of Transportation order is not issued before the expiration of the period of suspension, the filed rates shall remain subject to refund as provided in § 23-4-630 , but the applicant utility shall have the right to petition the Pulaski County Circuit Court for a writ of mandamus compelling the issuance of an order by the department within fifteen (15) days of the writ of mandamus issued by the Pulaski County Circuit Court. The petition shall be advanced on the docket above all other pending civil cases, and a hearing thereon shall be held within seven (7) days of the filing of the petition. The scope of review shall be limited to the issue of the failure of the department to act within the time limits provided for in this act. Amended by Act 2017, No. 707,§ 130, eff. 8/1/2017. Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.

If the Arkansas Department of Transportation order is not issued before the expiration of the period of suspension, the filed rates shall remain subject to refund as provided in § 23-4-630 , but the applicant utility shall have the right to petition the Pulaski County Circuit Court for a writ of mandamus compelling the issuance of an order by the department within fifteen (15) days of the writ of mandamus issued by the Pulaski County Circuit Court. The petition shall be advanced on the docket above all other pending civil cases, and a hearing thereon shall be held within seven (7) days of the filing of the petition. The scope of review shall be limited to the issue of the failure of the department to act within the time limits provided for in this act.

Amended by Act 2017, No. 707,§ 130, eff. 8/1/2017.

Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.
Ark. Code Ann. § 23-35-304 — AR Code / Title 23 / Chapter 35 / Subchapter 3 / Section 23-35-304
Duties of board of directors
Status: in_force

(a) The board of directors of the credit union shall be responsible for general management of the affairs, funds, and records of the credit union and shall meet as often as necessary, but not less than once each month. (b) The board shall: (1) Act upon applications for membership, or appoint and authorize an executive committee or a membership officer from among the members of the credit union, other than the treasurer, an assistant treasurer, or a loan officer, to approve applications for membership under such conditions as the board may prescribe. The committee or membership officer so authorized shall submit to the board, at each monthly meeting, a list of approved or pending applications for membership received since the previous monthly meeting, together with such other related information as the bylaws or the board may require. The membership officer shall not have the authority to disapprove any application for membership; (2) Purchase a blanket fidelity bond covering the officers, employees, members of official committees, attorneys at law, and other agents, with protection against loss caused by dishonesty, burglary, robbery, larceny, theft, holdup, forgery, alteration of instruments, misplacement or mysterious disappearance, and for faithful performance of duty, and, if applicable, building insurance, liability insurance, and such other insurance as is necessary for the operation and the protection of the credit union and its members. The State Credit Union Supervisor shall prescribe in his or her rules and regulations the amount of minimum bond coverage required for all credit unions according to their asset categories; (3) Determine the rate of interest, consistent with the provisions of this chapter, which shall be charged on loans; the rate of interest refund, if any, to be paid to borrowing members; the qualifications for participation, and the manner of computation and payment. The interest rebates are to be paid from the credit balance of the retained earnings account; (4) Declare dividends as provided by this chapter; (5) Limit the number of shares which may be owned by a member, not to exceed the maximum amount insured under Title II of the Federal Credit Union Act; (6) Fill vacancies, occurring between annual meetings, in the board, credit committee, and supervisory committee until the election, or appointment and qualification, of successors; (7) Determine the maximum amount, both secured and unsecured, which may be loaned to any one (1) member; (8) Have charge of the investment of surplus funds of the credit union as provided by this chapter; (9) Authorize the employment of such persons as may be necessary to carry on the business of the credit union and determine the compensation of employees and the treasurer; (10) Authorize the conveyance of property; (11) Borrow or lend money to carry on the functions of the credit union; (12) Perform such other duties as the members may require; (13) Designate depositories for the funds of the credit union; (14) Suspend any or all members of the credit and supervisory committees for failure to perform their duties upon unanimous approval by the board; (15) Establish and provide for compensation of loan officers appointed by the credit committee and compensation of auditing assistance requested by the supervisory committee; (16) Suspend any officer, director, or committee member from his or her official position for failure to attend three (3) consecutive regular meetings without cause or for otherwise failing to perform any of the duties required of him or her as an official, but only after he or she has been given reasonable notice of a meeting for suspension and an opportunity to be heard on the charges; and (17) Perform or authorize any action consistent with this chapter not specifically reserved for the members by the bylaws or this chapter. Acts 1971, No. 132, § 13; 1975, No. 530, §§ 8-10; 1979, No. 206, § 4; 1985, No. 936, § 6; A.S.A. 1947, § 67-913.

(a) The board of directors of the credit union shall be responsible for general management of the affairs, funds, and records of the credit union and shall meet as often as necessary, but not less than once each month.

(b) The board shall: (1) Act upon applications for membership, or appoint and authorize an executive committee or a membership officer from among the members of the credit union, other than the treasurer, an assistant treasurer, or a loan officer, to approve applications for membership under such conditions as the board may prescribe. The committee or membership officer so authorized shall submit to the board, at each monthly meeting, a list of approved or pending applications for membership received since the previous monthly meeting, together with such other related information as the bylaws or the board may require. The membership officer shall not have the authority to disapprove any application for membership; (2) Purchase a blanket fidelity bond covering the officers, employees, members of official committees, attorneys at law, and other agents, with protection against loss caused by dishonesty, burglary, robbery, larceny, theft, holdup, forgery, alteration of instruments, misplacement or mysterious disappearance, and for faithful performance of duty, and, if applicable, building insurance, liability insurance, and such other insurance as is necessary for the operation and the protection of the credit union and its members. The State Credit Union Supervisor shall prescribe in his or her rules and regulations the amount of minimum bond coverage required for all credit unions according to their asset categories; (3) Determine the rate of interest, consistent with the provisions of this chapter, which shall be charged on loans; the rate of interest refund, if any, to be paid to borrowing members; the qualifications for participation, and the manner of computation and payment. The interest rebates are to be paid from the credit balance of the retained earnings account; (4) Declare dividends as provided by this chapter; (5) Limit the number of shares which may be owned by a member, not to exceed the maximum amount insured under Title II of the Federal Credit Union Act; (6) Fill vacancies, occurring between annual meetings, in the board, credit committee, and supervisory committee until the election, or appointment and qualification, of successors; (7) Determine the maximum amount, both secured and unsecured, which may be loaned to any one (1) member; (8) Have charge of the investment of surplus funds of the credit union as provided by this chapter; (9) Authorize the employment of such persons as may be necessary to carry on the business of the credit union and determine the compensation of employees and the treasurer; (10) Authorize the conveyance of property; (11) Borrow or lend money to carry on the functions of the credit union; (12) Perform such other duties as the members may require; (13) Designate depositories for the funds of the credit union; (14) Suspend any or all members of the credit and supervisory committees for failure to perform their duties upon unanimous approval by the board; (15) Establish and provide for compensation of loan officers appointed by the credit committee and compensation of auditing assistance requested by the supervisory committee; (16) Suspend any officer, director, or committee member from his or her official position for failure to attend three (3) consecutive regular meetings without cause or for otherwise failing to perform any of the duties required of him or her as an official, but only after he or she has been given reasonable notice of a meeting for suspension and an opportunity to be heard on the charges; and (17) Perform or authorize any action consistent with this chapter not specifically reserved for the members by the bylaws or this chapter.

(1) Act upon applications for membership, or appoint and authorize an executive committee or a membership officer from among the members of the credit union, other than the treasurer, an assistant treasurer, or a loan officer, to approve applications for membership under such conditions as the board may prescribe. The committee or membership officer so authorized shall submit to the board, at each monthly meeting, a list of approved or pending applications for membership received since the previous monthly meeting, together with such other related information as the bylaws or the board may require. The membership officer shall not have the authority to disapprove any application for membership;

(2) Purchase a blanket fidelity bond covering the officers, employees, members of official committees, attorneys at law, and other agents, with protection against loss caused by dishonesty, burglary, robbery, larceny, theft, holdup, forgery, alteration of instruments, misplacement or mysterious disappearance, and for faithful performance of duty, and, if applicable, building insurance, liability insurance, and such other insurance as is necessary for the operation and the protection of the credit union and its members. The State Credit Union Supervisor shall prescribe in his or her rules and regulations the amount of minimum bond coverage required for all credit unions according to their asset categories;

(3) Determine the rate of interest, consistent with the provisions of this chapter, which shall be charged on loans; the rate of interest refund, if any, to be paid to borrowing members; the qualifications for participation, and the manner of computation and payment. The interest rebates are to be paid from the credit balance of the retained earnings account;

(4) Declare dividends as provided by this chapter;

(5) Limit the number of shares which may be owned by a member, not to exceed the maximum amount insured under Title II of the Federal Credit Union Act;

(6) Fill vacancies, occurring between annual meetings, in the board, credit committee, and supervisory committee until the election, or appointment and qualification, of successors;

(7) Determine the maximum amount, both secured and unsecured, which may be loaned to any one (1) member;

(8) Have charge of the investment of surplus funds of the credit union as provided by this chapter;

(9) Authorize the employment of such persons as may be necessary to carry on the business of the credit union and determine the compensation of employees and the treasurer;

(10) Authorize the conveyance of property;

(11) Borrow or lend money to carry on the functions of the credit union;

(12) Perform such other duties as the members may require;

(13) Designate depositories for the funds of the credit union;

(14) Suspend any or all members of the credit and supervisory committees for failure to perform their duties upon unanimous approval by the board;

(15) Establish and provide for compensation of loan officers appointed by the credit committee and compensation of auditing assistance requested by the supervisory committee;

(16) Suspend any officer, director, or committee member from his or her official position for failure to attend three (3) consecutive regular meetings without cause or for otherwise failing to perform any of the duties required of him or her as an official, but only after he or she has been given reasonable notice of a meeting for suspension and an opportunity to be heard on the charges; and

(17) Perform or authorize any action consistent with this chapter not specifically reserved for the members by the bylaws or this chapter.

Acts 1971, No. 132, § 13; 1975, No. 530, §§ 8-10; 1979, No. 206, § 4; 1985, No. 936, § 6; A.S.A. 1947, § 67-913.
Ark. Code Ann. § 23-63-908 — AR Code / Title 23 / Chapter 63 / Subchapter 9 / Section 23-63-908
Excess deposits
Status: in_force

(a) An insurer may so deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under the Arkansas Insurance Code by not more than twenty percent (20%) of the required or permitted deposit or one hundred thousand dollars ($100,000), whichever is the larger amount, for the purpose of absorbing fluctuations in the value of securities and assets deposited and to facilitate the exchange and substitution of such securities and assets. (b) (1) During the solvency of the insurer, any excess shall be released to the insurer upon its request. (2) During the insolvency of the insurer, the excess deposit shall be released only as provided in § 23-63-911(b)(3) . Acts 1959, No. 148, § 139; A.S.A. 1947, § 66-2708.

(a) An insurer may so deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under the Arkansas Insurance Code by not more than twenty percent (20%) of the required or permitted deposit or one hundred thousand dollars ($100,000), whichever is the larger amount, for the purpose of absorbing fluctuations in the value of securities and assets deposited and to facilitate the exchange and substitution of such securities and assets.

(b) (1) During the solvency of the insurer, any excess shall be released to the insurer upon its request. (2) During the insolvency of the insurer, the excess deposit shall be released only as provided in § 23-63-911(b)(3) .

(1) During the solvency of the insurer, any excess shall be released to the insurer upon its request.

(2) During the insolvency of the insurer, the excess deposit shall be released only as provided in § 23-63-911(b)(3) .

Acts 1959, No. 148, § 139; A.S.A. 1947, § 66-2708.
Ark. Code Ann. § 23-78-106 — AR Code / Title 23 / Chapter 78 / Section 23-78-106
[Repealed]
Status: repealed

Repealed by Act 2017, No. 788,§ 71, eff. 7/1/2018. Acts 1953, No. 91, § 4; 1965, No. 83, § 1; 1977, No. 113, § 2; 1981, No. 360, § 1; 1981, No. 717, § 2; 1983, No. 131, § 3; 1983, No. 135, § 3; 1983, No. 784, § 1; 1985, No. 679, § 2; A.S.A. 1947, §§ 6-618, 6-625, 66-1804.

Repealed by Act 2017, No. 788,§ 71, eff. 7/1/2018.

Acts 1953, No. 91, § 4; 1965, No. 83, § 1; 1977, No. 113, § 2; 1981, No. 360, § 1; 1981, No. 717, § 2; 1983, No. 131, § 3; 1983, No. 135, § 3; 1983, No. 784, § 1; 1985, No. 679, § 2; A.S.A. 1947, §§ 6-618, 6-625, 66-1804.
Ark. Code Ann. § 23-74-501 — AR Code / Title 23 / Chapter 74 / Subchapter 5 / Section 23-74-501
Investments
Status: in_force

A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this state which invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated shall be held to meet the requirements of this section for the investment of funds. Acts 1989, No. 881, § 1.

A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this state which invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated shall be held to meet the requirements of this section for the investment of funds.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-85-112 — AR Code / Title 23 / Chapter 85 / Section 23-85-112
Proofs of loss provision
Status: in_force

There shall be a provision as follows: "Proofs of Loss: Written proof of loss must be furnished to the insurer at its said office in case of claim for loss for which this policy provides any periodic payment contingent upon continuing loss within ninety (90) days after the termination of the period for which the insurer is liable and in case of claim for any other loss within ninety (90) days after the date of such loss. Failure to furnish such proof within the time required shall not invalidate nor reduce any claim if it was not reasonably possible to give proof within such time, provided such proof is furnished as soon as reasonably possible and in no event, except in the absence of legal capacity, later than one (1) year from the time proof is otherwise required." Acts 1959, No. 148, § 395; A.S.A. 1947, § 66-3610.

There shall be a provision as follows:

"Proofs of Loss: Written proof of loss must be furnished to the insurer at its said office in case of claim for loss for which this policy provides any periodic payment contingent upon continuing loss within ninety (90) days after the termination of the period for which the insurer is liable and in case of claim for any other loss within ninety (90) days after the date of such loss. Failure to furnish such proof within the time required shall not invalidate nor reduce any claim if it was not reasonably possible to give proof within such time, provided such proof is furnished as soon as reasonably possible and in no event, except in the absence of legal capacity, later than one (1) year from the time proof is otherwise required."

Acts 1959, No. 148, § 395; A.S.A. 1947, § 66-3610.
Ark. Code Ann. § 23-44-108 — AR Code / Title 23 / Chapter 44 / Section 23-44-108
Exchanges and boards of trade - Use of public or private wires
Status: in_force

(a) Only members of cotton exchanges, grain exchanges, boards of trade, or similar institutions organized under the laws of Arkansas or any other state may provide for their use, and the use of their clients, private or public wires from cities in Arkansas where the cotton exchanges, grain exchanges, boards of trade, or similar institutions are located to other cities outside the State of Arkansas where cotton exchanges, grain exchanges, boards of trade, or similar institutions are operated. (b) They may receive over the private or public wires, and post for their own use and that of their clients and of any person engaged in the production of cotton, grain, or other commodities, market quotations and market news covering cotton, grain, stock, and other commodities. They may also transmit, for execution, contracts of sale for future delivery. (c) In all cases it is contemplated that the delivery of the commodity purchased or sold, as the case may be, will be carried out by the principals or other successors or assignees and that the contract for delivery thereof will be performed or discharged according to the rules of the exchange, board of trade, or similar institution where the contract is executed. Acts 1929, No. 208, § 9; Pope's Dig., § 3350; A.S.A. 1947, § 68-1009.

(a) Only members of cotton exchanges, grain exchanges, boards of trade, or similar institutions organized under the laws of Arkansas or any other state may provide for their use, and the use of their clients, private or public wires from cities in Arkansas where the cotton exchanges, grain exchanges, boards of trade, or similar institutions are located to other cities outside the State of Arkansas where cotton exchanges, grain exchanges, boards of trade, or similar institutions are operated.

(b) They may receive over the private or public wires, and post for their own use and that of their clients and of any person engaged in the production of cotton, grain, or other commodities, market quotations and market news covering cotton, grain, stock, and other commodities. They may also transmit, for execution, contracts of sale for future delivery.

(c) In all cases it is contemplated that the delivery of the commodity purchased or sold, as the case may be, will be carried out by the principals or other successors or assignees and that the contract for delivery thereof will be performed or discharged according to the rules of the exchange, board of trade, or similar institution where the contract is executed.

Acts 1929, No. 208, § 9; Pope's Dig., § 3350; A.S.A. 1947, § 68-1009.
Ark. Code Ann. § 23-115-410 — AR Code / Title 23 / Chapter 115 / Subchapter 4 / Section 23-115-410
[Repealed]
Status: repealed

Repealed by Act 2015, No. 1262,§ 1, eff. 7/22/2015. Amended by Act 2015, No. 1258,§ 32, eff. 7/22/2015. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2010, No. 265, § 29; 2010, No. 294, § 29; 2011, No. 207, § 28; 2011, No. 1179, § 2.

Repealed by Act 2015, No. 1262,§ 1, eff. 7/22/2015.

Amended by Act 2015, No. 1258,§ 32, eff. 7/22/2015.

Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015.

Acts 2010, No. 265, § 29; 2010, No. 294, § 29; 2011, No. 207, § 28; 2011, No. 1179, § 2.
Ark. Code Ann. § 23-63-526 — AR Code / Title 23 / Chapter 63 / Subchapter 5 / Section 23-63-526
Acquisitions involving insurers not otherwise covered - Scope
Status: in_force

(a) Except as exempted in subsection (b) of this section, §§ 23-63-525 - 23-63-528 apply to any acquisition in which there is a change in control of an insurer authorized to do business in this state. (b) Sections 23-63-525 - 23-63-528 shall not apply to the following: (1) An acquisition subject to approval or disapproval by the Insurance Commissioner pursuant to §§ 23-63-506 - 23-63-513 ; (2) A purchase of securities solely for investment purposes, so long as the securities are not used by voting or otherwise to cause or attempt to cause the substantial lessening of competition in any insurance market in this state. If a purchase of securities results in a presumption of control under § 23-63-503(2) , it is not solely for investment purposes unless the commissioner of the insurer's state of domicile accepts a disclaimer of control or affirmatively finds that control does not exist and such a disclaimer action or affirmative finding is communicated by the domiciliary commissioner to the commissioner of this state; (3) The acquisition of a person by another person when both persons are neither directly nor through affiliates primarily engaged in the business of insurance, if preacquisition notification is filed with the commissioner in accordance with § 23-63-527(b) thirty (30) days prior to the proposed effective date of the acquisition. However, such a preacquisition notification is not required for exclusion if the acquisition would otherwise be excluded from §§ 23-63-525 - 23-63-530 by any other subdivision of this subsection; (4) The acquisition of already affiliated persons; (5) (A) An acquisition if, as an immediate result of the acquisition: (i) In no market would the combined market share of the involved insurers exceed five percent (5%) of the total market; (ii) There would be no increase in any market share; or (iii) In no market would the combined market share of the involved insurers exceed twelve percent (12%) of the total market, and the market share increases by more than two percent (2%) of the total market. (B) For purposes of this subdivision (b)(5), a "market share" means a direct written insurance premium in this state for a line of business as contained in the annual statement required to be filed by insurers licensed to do business in this state; (6) An acquisition for which a preacquisition notification would be required pursuant to § 23-63-527 , due solely to the resulting effect on the ocean marine insurance line of business; or (7) An acquisition of an insurer whose domiciliary commissioner affirmatively finds that such an insurer is in failing condition, and there is a lack of a feasible alternative to improving such a condition, and the public benefits of improving such an insurer's condition through acquisition exceed the public benefits that would arise from not lessening competition. The findings must be communicated by the domiciliary commissioner to the commissioner of this state. Acts 1991, No. 723, § 29.

(a) Except as exempted in subsection (b) of this section, §§ 23-63-525 - 23-63-528 apply to any acquisition in which there is a change in control of an insurer authorized to do business in this state.

(b) Sections 23-63-525 - 23-63-528 shall not apply to the following: (1) An acquisition subject to approval or disapproval by the Insurance Commissioner pursuant to §§ 23-63-506 - 23-63-513 ; (2) A purchase of securities solely for investment purposes, so long as the securities are not used by voting or otherwise to cause or attempt to cause the substantial lessening of competition in any insurance market in this state. If a purchase of securities results in a presumption of control under § 23-63-503(2) , it is not solely for investment purposes unless the commissioner of the insurer's state of domicile accepts a disclaimer of control or affirmatively finds that control does not exist and such a disclaimer action or affirmative finding is communicated by the domiciliary commissioner to the commissioner of this state; (3) The acquisition of a person by another person when both persons are neither directly nor through affiliates primarily engaged in the business of insurance, if preacquisition notification is filed with the commissioner in accordance with § 23-63-527(b) thirty (30) days prior to the proposed effective date of the acquisition. However, such a preacquisition notification is not required for exclusion if the acquisition would otherwise be excluded from §§ 23-63-525 - 23-63-530 by any other subdivision of this subsection; (4) The acquisition of already affiliated persons; (5) (A) An acquisition if, as an immediate result of the acquisition: (i) In no market would the combined market share of the involved insurers exceed five percent (5%) of the total market; (ii) There would be no increase in any market share; or (iii) In no market would the combined market share of the involved insurers exceed twelve percent (12%) of the total market, and the market share increases by more than two percent (2%) of the total market. (B) For purposes of this subdivision (b)(5), a "market share" means a direct written insurance premium in this state for a line of business as contained in the annual statement required to be filed by insurers licensed to do business in this state; (6) An acquisition for which a preacquisition notification would be required pursuant to § 23-63-527 , due solely to the resulting effect on the ocean marine insurance line of business; or (7) An acquisition of an insurer whose domiciliary commissioner affirmatively finds that such an insurer is in failing condition, and there is a lack of a feasible alternative to improving such a condition, and the public benefits of improving such an insurer's condition through acquisition exceed the public benefits that would arise from not lessening competition. The findings must be communicated by the domiciliary commissioner to the commissioner of this state.

(1) An acquisition subject to approval or disapproval by the Insurance Commissioner pursuant to §§ 23-63-506 - 23-63-513 ;

(2) A purchase of securities solely for investment purposes, so long as the securities are not used by voting or otherwise to cause or attempt to cause the substantial lessening of competition in any insurance market in this state. If a purchase of securities results in a presumption of control under § 23-63-503(2) , it is not solely for investment purposes unless the commissioner of the insurer's state of domicile accepts a disclaimer of control or affirmatively finds that control does not exist and such a disclaimer action or affirmative finding is communicated by the domiciliary commissioner to the commissioner of this state;

(3) The acquisition of a person by another person when both persons are neither directly nor through affiliates primarily engaged in the business of insurance, if preacquisition notification is filed with the commissioner in accordance with § 23-63-527(b) thirty (30) days prior to the proposed effective date of the acquisition. However, such a preacquisition notification is not required for exclusion if the acquisition would otherwise be excluded from §§ 23-63-525 - 23-63-530 by any other subdivision of this subsection;

(4) The acquisition of already affiliated persons;

(5) (A) An acquisition if, as an immediate result of the acquisition: (i) In no market would the combined market share of the involved insurers exceed five percent (5%) of the total market; (ii) There would be no increase in any market share; or (iii) In no market would the combined market share of the involved insurers exceed twelve percent (12%) of the total market, and the market share increases by more than two percent (2%) of the total market. (B) For purposes of this subdivision (b)(5), a "market share" means a direct written insurance premium in this state for a line of business as contained in the annual statement required to be filed by insurers licensed to do business in this state;

(A) An acquisition if, as an immediate result of the acquisition: (i) In no market would the combined market share of the involved insurers exceed five percent (5%) of the total market; (ii) There would be no increase in any market share; or (iii) In no market would the combined market share of the involved insurers exceed twelve percent (12%) of the total market, and the market share increases by more than two percent (2%) of the total market.

(i) In no market would the combined market share of the involved insurers exceed five percent (5%) of the total market;

(ii) There would be no increase in any market share; or

(iii) In no market would the combined market share of the involved insurers exceed twelve percent (12%) of the total market, and the market share increases by more than two percent (2%) of the total market.

(B) For purposes of this subdivision (b)(5), a "market share" means a direct written insurance premium in this state for a line of business as contained in the annual statement required to be filed by insurers licensed to do business in this state;

(6) An acquisition for which a preacquisition notification would be required pursuant to § 23-63-527 , due solely to the resulting effect on the ocean marine insurance line of business; or

(7) An acquisition of an insurer whose domiciliary commissioner affirmatively finds that such an insurer is in failing condition, and there is a lack of a feasible alternative to improving such a condition, and the public benefits of improving such an insurer's condition through acquisition exceed the public benefits that would arise from not lessening competition. The findings must be communicated by the domiciliary commissioner to the commissioner of this state.

Acts 1991, No. 723, § 29.
Ark. Code Ann. § 23-65-204 — AR Code / Title 23 / Chapter 65 / Subchapter 2 / Section 23-65-204
Exemptions from service-of-process provisions
Status: in_force

Sections 23-65-202 , 23-65-203 , and 23-65-205 shall not apply to surplus line insurance lawfully effectuated under this chapter, or to reinsurance, nor to any action or proceeding against an unauthorized insurer arising out of: (1) Wet marine and foreign trade insurance; (2) Insurance on subjects located, resident, or to be performed wholly outside this state or on vehicles or aircraft owned and principally garaged outside this state; (3) Insurance on property or operations of railroads engaged in interstate commerce; or (4) Insurance on aircraft or cargo of such aircraft or against liability, other than employer's liability, arising out of the ownership, maintenance, or use of such aircraft, when the policy or contract contains a provision designating the Insurance Commissioner as its attorney for the acceptance of service of lawful process in any action or proceeding instituted by or on behalf of an insured or beneficiary arising out of any such policy, or when the insurer enters a general appearance in any such action. Acts 1959, No. 148, § 186; A.S.A. 1947, § 66-2906.

Sections 23-65-202 , 23-65-203 , and 23-65-205 shall not apply to surplus line insurance lawfully effectuated under this chapter, or to reinsurance, nor to any action or proceeding against an unauthorized insurer arising out of:

(1) Wet marine and foreign trade insurance;

(2) Insurance on subjects located, resident, or to be performed wholly outside this state or on vehicles or aircraft owned and principally garaged outside this state;

(3) Insurance on property or operations of railroads engaged in interstate commerce; or

(4) Insurance on aircraft or cargo of such aircraft or against liability, other than employer's liability, arising out of the ownership, maintenance, or use of such aircraft, when the policy or contract contains a provision designating the Insurance Commissioner as its attorney for the acceptance of service of lawful process in any action or proceeding instituted by or on behalf of an insured or beneficiary arising out of any such policy, or when the insurer enters a general appearance in any such action.

Acts 1959, No. 148, § 186; A.S.A. 1947, § 66-2906.
Ark. Code Ann. § 23-90-119 — AR Code / Title 23 / Chapter 90 / Section 23-90-119
Assessment as credit against taxes
Status: in_force

(a) Any assessment paid by an insurer under this chapter shall be allowed to an insurer as a credit against its premium tax payable under §§ 26-57-601 - 26-57-605 and 26-57-607 . (b) The tax credit referred to in this section shall be allowed at a rate of twenty percent (20%) per year for five (5) successive years following the date of assessment. (c) The balance of any assessment paid by the insurer and not claimed as a tax credit may be reflected in the books and records of the insurer as an admitted asset of the insurer for all purposes, including exhibition in the annual statements. (d) However, any insurer which neglects to take the twenty percent (20%) credit during the year allowable will not be allowed to carry over the credit for the following year or years. Acts 1977, No. 871, § 15; 1983, No. 522, § 40; 1985, No. 804, § 26; A.S.A. 1947, § 66-5515; Acts 1987, No. 738, § 7; 1999, No. 881, § 16.

(a) Any assessment paid by an insurer under this chapter shall be allowed to an insurer as a credit against its premium tax payable under §§ 26-57-601 - 26-57-605 and 26-57-607 .

(b) The tax credit referred to in this section shall be allowed at a rate of twenty percent (20%) per year for five (5) successive years following the date of assessment.

(c) The balance of any assessment paid by the insurer and not claimed as a tax credit may be reflected in the books and records of the insurer as an admitted asset of the insurer for all purposes, including exhibition in the annual statements.

(d) However, any insurer which neglects to take the twenty percent (20%) credit during the year allowable will not be allowed to carry over the credit for the following year or years.

Acts 1977, No. 871, § 15; 1983, No. 522, § 40; 1985, No. 804, § 26; A.S.A. 1947, § 66-5515; Acts 1987, No. 738, § 7; 1999, No. 881, § 16.
Ark. Code Ann. § 23-79-162 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-162
Notice of renewal in affiliate or subsidiary
Status: in_force

(a) This section applies to all forms of property and casualty insurance written under this subchapter. (b) A notice of nonrenewal is not required if: (1) The insured is transferred from an insurer to an affiliate insurer for future coverage; and (2) The transfer results in substantially similar or broader coverage to the insured. (c) (1) Notice of a renewal in an affiliate or subsidiary shall be provided to a policyholder according to the renewal notice requirements applicable to the type or kind of policy being renewed. (2) The notice of renewal in an affiliate or subsidiary described in subdivision (c)(1) of this section shall state: (A) The reason for the change to the affiliate or subsidiary; (B) That coverage shall be provided by the affiliate or subsidiary unless the policyholder chooses to pursue coverage with an insurer outside the group of affiliated insurers; and (C) The relevant information about changes to the policy's deductible, provisions, and amount of premium. (d) At least ninety (90) days in advance of mailing the notice of renewal in an affiliate or subsidiary to its policyholders, an insurer shall notify the Insurance Commissioner of its intention to renew policies in bulk in an affiliate or subsidiary and provide the commissioner with a copy of the notice to policyholders. (e) This section does not repeal or supersede any requirements of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq., including without limitation the provisions of § 23-63-515 that are applicable to material transactions between an insurer and an insurer's affiliates. Added by Act 2019, No. 689,§ 3, eff. 7/24/2019.

(a) This section applies to all forms of property and casualty insurance written under this subchapter.

(b) A notice of nonrenewal is not required if: (1) The insured is transferred from an insurer to an affiliate insurer for future coverage; and (2) The transfer results in substantially similar or broader coverage to the insured.

(1) The insured is transferred from an insurer to an affiliate insurer for future coverage; and

(2) The transfer results in substantially similar or broader coverage to the insured.

(c) (1) Notice of a renewal in an affiliate or subsidiary shall be provided to a policyholder according to the renewal notice requirements applicable to the type or kind of policy being renewed. (2) The notice of renewal in an affiliate or subsidiary described in subdivision (c)(1) of this section shall state: (A) The reason for the change to the affiliate or subsidiary; (B) That coverage shall be provided by the affiliate or subsidiary unless the policyholder chooses to pursue coverage with an insurer outside the group of affiliated insurers; and (C) The relevant information about changes to the policy's deductible, provisions, and amount of premium.

(1) Notice of a renewal in an affiliate or subsidiary shall be provided to a policyholder according to the renewal notice requirements applicable to the type or kind of policy being renewed.

(2) The notice of renewal in an affiliate or subsidiary described in subdivision (c)(1) of this section shall state: (A) The reason for the change to the affiliate or subsidiary; (B) That coverage shall be provided by the affiliate or subsidiary unless the policyholder chooses to pursue coverage with an insurer outside the group of affiliated insurers; and (C) The relevant information about changes to the policy's deductible, provisions, and amount of premium.

(A) The reason for the change to the affiliate or subsidiary;

(B) That coverage shall be provided by the affiliate or subsidiary unless the policyholder chooses to pursue coverage with an insurer outside the group of affiliated insurers; and

(C) The relevant information about changes to the policy's deductible, provisions, and amount of premium.

(d) At least ninety (90) days in advance of mailing the notice of renewal in an affiliate or subsidiary to its policyholders, an insurer shall notify the Insurance Commissioner of its intention to renew policies in bulk in an affiliate or subsidiary and provide the commissioner with a copy of the notice to policyholders.

(e) This section does not repeal or supersede any requirements of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq., including without limitation the provisions of § 23-63-515 that are applicable to material transactions between an insurer and an insurer's affiliates.

Added by Act 2019, No. 689,§ 3, eff. 7/24/2019.
Ark. Code Ann. § 23-32-205 — AR Code / Title 23 / Chapter 32 / Subchapter 2 / Section 23-32-205
Loans under Servicemen's Readjustment Act
Status: in_force

(a) In applying to loans made under the Servicemen's Readjustment Act of 1944, any restrictions of any character imposed by the laws of the State of Arkansas upon loans which state-chartered lending institutions may make, purchase, or otherwise acquire, no consideration whatsoever shall be given: (1) Any loan or loan obligation which is wholly guaranteed or insured by the Secretary of Veterans Affairs, under Title III of the Servicemen's Readjustment Act of 1944 or for the insurance or guaranty of which the administrator has issued his or her binding commitment; or (2) If any loan or loan obligation be guaranteed or insured only in part under the Servicemen's Readjustment Act of 1944: (A) That portion of the loan or loan obligation so guaranteed or insured by the administrator; and (B) That portion of the loan or loan obligation that may be guaranteed or insured by the United States or by any department, bureau, or agency thereof, including any corporation which, or the capital stock of which, is owned by the United States Government. (b) As used in this section, "restrictions of any character" includes: (1) Restrictions on the aggregate amount of loans which any lending institution may lawfully make to any one (1) borrower; and (2) Restrictions on the duration of the loan or the time or manner of repayment. (c) As used in this section, "state-chartered lending institutions" includes building and loan associations, savings and loan associations, insurance companies, and other institutions and organizations authorized to make loans in this state. Acts 1997, No. 79, § 1.

(a) In applying to loans made under the Servicemen's Readjustment Act of 1944, any restrictions of any character imposed by the laws of the State of Arkansas upon loans which state-chartered lending institutions may make, purchase, or otherwise acquire, no consideration whatsoever shall be given: (1) Any loan or loan obligation which is wholly guaranteed or insured by the Secretary of Veterans Affairs, under Title III of the Servicemen's Readjustment Act of 1944 or for the insurance or guaranty of which the administrator has issued his or her binding commitment; or (2) If any loan or loan obligation be guaranteed or insured only in part under the Servicemen's Readjustment Act of 1944: (A) That portion of the loan or loan obligation so guaranteed or insured by the administrator; and (B) That portion of the loan or loan obligation that may be guaranteed or insured by the United States or by any department, bureau, or agency thereof, including any corporation which, or the capital stock of which, is owned by the United States Government.

(1) Any loan or loan obligation which is wholly guaranteed or insured by the Secretary of Veterans Affairs, under Title III of the Servicemen's Readjustment Act of 1944 or for the insurance or guaranty of which the administrator has issued his or her binding commitment; or

(2) If any loan or loan obligation be guaranteed or insured only in part under the Servicemen's Readjustment Act of 1944: (A) That portion of the loan or loan obligation so guaranteed or insured by the administrator; and (B) That portion of the loan or loan obligation that may be guaranteed or insured by the United States or by any department, bureau, or agency thereof, including any corporation which, or the capital stock of which, is owned by the United States Government.

(A) That portion of the loan or loan obligation so guaranteed or insured by the administrator; and

(B) That portion of the loan or loan obligation that may be guaranteed or insured by the United States or by any department, bureau, or agency thereof, including any corporation which, or the capital stock of which, is owned by the United States Government.

(b) As used in this section, "restrictions of any character" includes: (1) Restrictions on the aggregate amount of loans which any lending institution may lawfully make to any one (1) borrower; and (2) Restrictions on the duration of the loan or the time or manner of repayment.

(1) Restrictions on the aggregate amount of loans which any lending institution may lawfully make to any one (1) borrower; and

(2) Restrictions on the duration of the loan or the time or manner of repayment.

(c) As used in this section, "state-chartered lending institutions" includes building and loan associations, savings and loan associations, insurance companies, and other institutions and organizations authorized to make loans in this state.

Acts 1997, No. 79, § 1.
Ark. Code Ann. § 23-67-415 — AR Code / Title 23 / Chapter 67 / Subchapter 4 / Section 23-67-415
[Repealed]
Status: repealed

Repealed by Act 2017, No. 283,§ 16, eff. 8/1/2017. Acts 2003, No. 1452, § 2.

Repealed by Act 2017, No. 283,§ 16, eff. 8/1/2017.

Acts 2003, No. 1452, § 2.
Ark. Code Ann. § 23-60-103 — AR Code / Title 23 / Chapter 60 / Section 23-60-103
Application of code
Status: in_force

Unless otherwise expressly provided for in the Arkansas Insurance Code, no provision of the Arkansas Insurance Code shall apply with respect to the following entities: (1) Domestic stipulated premium insurers, as identified in § 23-71-101 et seq., concerning stipulated premium insurers except as stated in those sections; (2) Assessment life, health, and accident insurers, as identified in § 23-72-102 et seq., concerning assessment life and disability insurers except as stated in those sections; (3) Farmers' mutual aid associations or companies, as identified in § 23-73-102 et seq., concerning farmers' mutual aid associations or companies except as stated in those sections, but excepting the requirements for fraudulent insurance acts prevention, codified in § 23-66-501 et seq., and including the payment of assessments due from insurers and other licensees under the State Insurance Department Criminal Investigation Division Trust Fund Act, § 23-100-101 et seq., which shall apply to farmers' mutual aid associations or companies; (4) Fraternal benefit societies, as identified in § 23-74-101 et seq., concerning fraternal benefit societies except as stated in those sections; and (5) Nonprofit vision service plan corporations composed of at least fifty (50) participating optometrists or ophthalmologists licensed by the State of Arkansas to provide vision care services on a prepaid basis when each licensed optometrist or ophthalmologist is subject to the rules of the professional's respective state board and when each participating licensed optometrist or ophthalmologist agrees to assume responsibility for completion of the provisions of the vision care services contracted for so that no element of risk is incurred by any subscriber group or person. Amended by Act 2019, No. 315,§ 2608, eff. 7/24/2019. Acts 1959, No. 148, § 11; 1983, No. 624, § 1; A.S.A. 1947, § 66-2011; Acts 2001, No. 1604, § 1.

Unless otherwise expressly provided for in the Arkansas Insurance Code, no provision of the Arkansas Insurance Code shall apply with respect to the following entities:

(1) Domestic stipulated premium insurers, as identified in § 23-71-101 et seq., concerning stipulated premium insurers except as stated in those sections;

(2) Assessment life, health, and accident insurers, as identified in § 23-72-102 et seq., concerning assessment life and disability insurers except as stated in those sections;

(3) Farmers' mutual aid associations or companies, as identified in § 23-73-102 et seq., concerning farmers' mutual aid associations or companies except as stated in those sections, but excepting the requirements for fraudulent insurance acts prevention, codified in § 23-66-501 et seq., and including the payment of assessments due from insurers and other licensees under the State Insurance Department Criminal Investigation Division Trust Fund Act, § 23-100-101 et seq., which shall apply to farmers' mutual aid associations or companies;

(4) Fraternal benefit societies, as identified in § 23-74-101 et seq., concerning fraternal benefit societies except as stated in those sections; and

(5) Nonprofit vision service plan corporations composed of at least fifty (50) participating optometrists or ophthalmologists licensed by the State of Arkansas to provide vision care services on a prepaid basis when each licensed optometrist or ophthalmologist is subject to the rules of the professional's respective state board and when each participating licensed optometrist or ophthalmologist agrees to assume responsibility for completion of the provisions of the vision care services contracted for so that no element of risk is incurred by any subscriber group or person.

Amended by Act 2019, No. 315,§ 2608, eff. 7/24/2019.

Acts 1959, No. 148, § 11; 1983, No. 624, § 1; A.S.A. 1947, § 66-2011; Acts 2001, No. 1604, § 1.
Ark. Code Ann. § 23-115-212 — AR Code / Title 23 / Chapter 115 / Subchapter 2 / Section 23-115-212
Duties and responsibilities of internal auditor
Status: in_force

(a) The internal auditor employed by the Office of the Arkansas Lottery shall report directly to the Secretary of the Department of Finance and Administration. (b) The secretary shall determine the duties and responsibilities of the internal auditor that: (1) Assist the office in the office's obligations under § 23-115-206 ; and (2) Are consistent with the suggested standards for the professional practice of internal auditing as adopted by the Institute of Internal Auditors, including without limitation: (A) Preparing a formal written three-year audit plan and presenting it to the secretary for the secretary's approval; (B) Conducting ongoing reviews of the internal procedures, records, and operating procedures of the office and the lotteries to: (i) Verify compliance with established policies, procedures, and control systems; (ii) Assure compliance with regulatory and statutory conditions; and (iii) Assure adherence to generally accepted accounting principles; and (C) Advising the secretary of inconsistencies within or improvements needed to the internal controls, operating procedures, or accounting procedures of the office or the lotteries. (c) (1) The internal auditor shall report to the Legislative Council one (1) time per month to: (A) Advise the Legislative Council concerning current issues and problems reported to the secretary under subsection (b) of this section; and (B) Update the Legislative Council concerning the resolution of any audit findings of Arkansas Legislative Audit. (2) The internal auditor is not required to file a report but shall include a statement in the monthly report of the office if: (A) There are no current issues or problems reported to the office; and (B) The office and Arkansas Legislative Audit agree that all audit findings are resolved. Amended by Act 2019, No. 910,§ 3539, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 3538, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 3537, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 3536, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 3535, eff. 7/1/2019. Amended by Act 2015, No. 1258,§ 26, eff. 7/22/2015. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2011, No. 207, § 24.

(a) The internal auditor employed by the Office of the Arkansas Lottery shall report directly to the Secretary of the Department of Finance and Administration.

(b) The secretary shall determine the duties and responsibilities of the internal auditor that: (1) Assist the office in the office's obligations under § 23-115-206 ; and (2) Are consistent with the suggested standards for the professional practice of internal auditing as adopted by the Institute of Internal Auditors, including without limitation: (A) Preparing a formal written three-year audit plan and presenting it to the secretary for the secretary's approval; (B) Conducting ongoing reviews of the internal procedures, records, and operating procedures of the office and the lotteries to: (i) Verify compliance with established policies, procedures, and control systems; (ii) Assure compliance with regulatory and statutory conditions; and (iii) Assure adherence to generally accepted accounting principles; and (C) Advising the secretary of inconsistencies within or improvements needed to the internal controls, operating procedures, or accounting procedures of the office or the lotteries.

(1) Assist the office in the office's obligations under § 23-115-206 ; and

(2) Are consistent with the suggested standards for the professional practice of internal auditing as adopted by the Institute of Internal Auditors, including without limitation: (A) Preparing a formal written three-year audit plan and presenting it to the secretary for the secretary's approval; (B) Conducting ongoing reviews of the internal procedures, records, and operating procedures of the office and the lotteries to: (i) Verify compliance with established policies, procedures, and control systems; (ii) Assure compliance with regulatory and statutory conditions; and (iii) Assure adherence to generally accepted accounting principles; and (C) Advising the secretary of inconsistencies within or improvements needed to the internal controls, operating procedures, or accounting procedures of the office or the lotteries.

(A) Preparing a formal written three-year audit plan and presenting it to the secretary for the secretary's approval;

(B) Conducting ongoing reviews of the internal procedures, records, and operating procedures of the office and the lotteries to: (i) Verify compliance with established policies, procedures, and control systems; (ii) Assure compliance with regulatory and statutory conditions; and (iii) Assure adherence to generally accepted accounting principles; and

(i) Verify compliance with established policies, procedures, and control systems;

(ii) Assure compliance with regulatory and statutory conditions; and

(iii) Assure adherence to generally accepted accounting principles; and

(C) Advising the secretary of inconsistencies within or improvements needed to the internal controls, operating procedures, or accounting procedures of the office or the lotteries.

(c) (1) The internal auditor shall report to the Legislative Council one (1) time per month to: (A) Advise the Legislative Council concerning current issues and problems reported to the secretary under subsection (b) of this section; and (B) Update the Legislative Council concerning the resolution of any audit findings of Arkansas Legislative Audit. (2) The internal auditor is not required to file a report but shall include a statement in the monthly report of the office if: (A) There are no current issues or problems reported to the office; and (B) The office and Arkansas Legislative Audit agree that all audit findings are resolved.

(1) The internal auditor shall report to the Legislative Council one (1) time per month to: (A) Advise the Legislative Council concerning current issues and problems reported to the secretary under subsection (b) of this section; and (B) Update the Legislative Council concerning the resolution of any audit findings of Arkansas Legislative Audit.

(A) Advise the Legislative Council concerning current issues and problems reported to the secretary under subsection (b) of this section; and

(B) Update the Legislative Council concerning the resolution of any audit findings of Arkansas Legislative Audit.

(2) The internal auditor is not required to file a report but shall include a statement in the monthly report of the office if: (A) There are no current issues or problems reported to the office; and (B) The office and Arkansas Legislative Audit agree that all audit findings are resolved.

(A) There are no current issues or problems reported to the office; and

(B) The office and Arkansas Legislative Audit agree that all audit findings are resolved.

Amended by Act 2019, No. 910,§ 3539, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 3538, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 3537, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 3536, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 3535, eff. 7/1/2019.

Amended by Act 2015, No. 1258,§ 26, eff. 7/22/2015.

Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015.

Acts 2011, No. 207, § 24.
Ark. Code Ann. § 23-66-406 — AR Code / Title 23 / Chapter 66 / Subchapter 4 / Section 23-66-406
Deceptive practices
Status: in_force

The following activities, if committed intentionally, shall be deceptive acts under the Trade Practices Act, § 23-66-201 et seq., for companies or agents engaged in the home service system of distribution: (1) The commission of a blind as defined by § 23-66-402 ; (2) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium to future coverage for a policy owner; (3) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium for a different policy owner; (4) The use or transfer of any excess or unused funds remaining in the account of the premium payor or policy owner to procure or revive an insurance policy for a policy owner without the knowledge or authorization of the payor; and (5) The collection of a premium by an agent who retains the premium for his or her own personal use. Acts 1993, No. 932, § 6; 1997, No. 749, § 4.

The following activities, if committed intentionally, shall be deceptive acts under the Trade Practices Act, § 23-66-201 et seq., for companies or agents engaged in the home service system of distribution:

(1) The commission of a blind as defined by § 23-66-402 ;

(2) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium to future coverage for a policy owner;

(3) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium for a different policy owner;

(4) The use or transfer of any excess or unused funds remaining in the account of the premium payor or policy owner to procure or revive an insurance policy for a policy owner without the knowledge or authorization of the payor; and

(5) The collection of a premium by an agent who retains the premium for his or her own personal use.

Acts 1993, No. 932, § 6; 1997, No. 749, § 4.
Ark. Code Ann. § 23-68-134 — AR Code / Title 23 / Chapter 68 / Section 23-68-134
Priority of distribution of claims - Legislative intent
Status: in_force

It is the intent of the General Assembly that § 23-68-126 as amended by this act apply to pending and future claims in existing delinquency proceedings as well as to claims in delinquency proceedings arising after July 2, 1997; that, in light of the ruling of the United States Supreme Court in United States Department of the Treasury v. Fabe, 508 U.S. 491 (1993), the General Assembly considers this act to be curative, remedial, and not affecting substantive rights in the distribution of assets in delinquency proceedings; that this act is necessary to cure any potential defect in the present priority of distribution scheme that may result from the Fabe decision and to preserve the original intent of the General Assembly with regard to the priorities of payment in delinquency proceedings. Acts 1997, No. 1000, § 10.

It is the intent of the General Assembly that § 23-68-126 as amended by this act apply to pending and future claims in existing delinquency proceedings as well as to claims in delinquency proceedings arising after July 2, 1997; that, in light of the ruling of the United States Supreme Court in United States Department of the Treasury v. Fabe, 508 U.S. 491 (1993), the General Assembly considers this act to be curative, remedial, and not affecting substantive rights in the distribution of assets in delinquency proceedings; that this act is necessary to cure any potential defect in the present priority of distribution scheme that may result from the Fabe decision and to preserve the original intent of the General Assembly with regard to the priorities of payment in delinquency proceedings.

Acts 1997, No. 1000, § 10.
Ark. Code Ann. § 23-70-120 — AR Code / Title 23 / Chapter 70 / Section 23-70-120
Nonassessable policies
Status: in_force

(a) If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock required of a domestic stock insurer authorized to transact like kinds of insurance, then, upon application of the attorney and as approved by the subscribers' advisory committee, the Insurance Commissioner shall issue his or her certificate authorizing the insurer to extinguish the contingent liability of subscribers under its policies then in force in this state and to omit provisions imposing contingent liability in all policies delivered or issued for delivery in this state for so long as all the surplus remains unimpaired. (b) Upon impairment of the surplus, the commissioner shall forthwith revoke the certificate. The revocation shall not render subject to contingent liability any policy then in force and for the remainder of the period for which the premium has theretofore been paid. However, after the revocation, no policy shall be issued or renewed without providing for contingent assessment liability of the subscriber. Acts 1959, No. 148, § 535; A.S.A. 1947, § 66-4326.

(a) If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock required of a domestic stock insurer authorized to transact like kinds of insurance, then, upon application of the attorney and as approved by the subscribers' advisory committee, the Insurance Commissioner shall issue his or her certificate authorizing the insurer to extinguish the contingent liability of subscribers under its policies then in force in this state and to omit provisions imposing contingent liability in all policies delivered or issued for delivery in this state for so long as all the surplus remains unimpaired.

(b) Upon impairment of the surplus, the commissioner shall forthwith revoke the certificate. The revocation shall not render subject to contingent liability any policy then in force and for the remainder of the period for which the premium has theretofore been paid. However, after the revocation, no policy shall be issued or renewed without providing for contingent assessment liability of the subscriber.

Acts 1959, No. 148, § 535; A.S.A. 1947, § 66-4326.
Ark. Code Ann. § 23-2-212 — AR Code / Title 23 / Chapter 2 / Subchapter 2 / Section 23-2-212
Expenses
Status: in_force

(a) All expenses incurred by the Arkansas Department of Transportation under the provisions of this subchapter, including the actual and necessary traveling and other expenses and disbursements incurred while on business of the department, shall be paid from the funds provided for the use of the department. (b) All costs of operation and maintenance of the department shall be paid by vouchered warrants drawn on the Treasurer of State from appropriations made for such purposes by the General Assembly. (c) The department shall follow the same procedures used or established by law in writing vouchers, itemizing accounts, in expenses, keeping of records, of salaries, and in general, the cost accounting method of keeping records in the same manner as is prescribed by law for the Arkansas Public Service Commission. Amended by Act 2017, No. 707,§ 96, eff. 8/1/2017. Acts 1957, No. 132, §§ 7, 8; A.S.A. 1947, §§ 73-158, 73-159.

(a) All expenses incurred by the Arkansas Department of Transportation under the provisions of this subchapter, including the actual and necessary traveling and other expenses and disbursements incurred while on business of the department, shall be paid from the funds provided for the use of the department.

(b) All costs of operation and maintenance of the department shall be paid by vouchered warrants drawn on the Treasurer of State from appropriations made for such purposes by the General Assembly.

(c) The department shall follow the same procedures used or established by law in writing vouchers, itemizing accounts, in expenses, keeping of records, of salaries, and in general, the cost accounting method of keeping records in the same manner as is prescribed by law for the Arkansas Public Service Commission.

Amended by Act 2017, No. 707,§ 96, eff. 8/1/2017.

Acts 1957, No. 132, §§ 7, 8; A.S.A. 1947, §§ 73-158, 73-159.
Ark. Code Ann. § 23-3-204 — AR Code / Title 23 / Chapter 3 / Subchapter 2 / Section 23-3-204
Preliminary orders
Status: in_force

(a) If the applicant desires to exercise the right or privilege under a franchise, permit, ordinance, vote, or other authority which it contemplates securing or which has not then been granted to it, the applicant may apply to the commission for an order preliminary to the issuance of the certificate. (b) The commission may thereupon make an order declaring that it will thereafter, upon application under such rules as it may prescribe, issue the desired certificate upon the terms and conditions as it may designate after the applicant has obtained the contemplated franchise, permit, ordinance, vote, or other authority. (c) Upon the presentation to the commission of evidence satisfactory to it, if such a franchise, permit, ordinance, vote, or other authority has been secured by the applicant, the commission shall thereupon issue the certificate. Amended by Act 2019, No. 315,§ 2380, eff. 7/24/2019. Acts 1935, No. 324, § 43; Pope's Dig., § 2106; A.S.A. 1947, § 73-242.

(a) If the applicant desires to exercise the right or privilege under a franchise, permit, ordinance, vote, or other authority which it contemplates securing or which has not then been granted to it, the applicant may apply to the commission for an order preliminary to the issuance of the certificate.

(b) The commission may thereupon make an order declaring that it will thereafter, upon application under such rules as it may prescribe, issue the desired certificate upon the terms and conditions as it may designate after the applicant has obtained the contemplated franchise, permit, ordinance, vote, or other authority.

(c) Upon the presentation to the commission of evidence satisfactory to it, if such a franchise, permit, ordinance, vote, or other authority has been secured by the applicant, the commission shall thereupon issue the certificate.

Amended by Act 2019, No. 315,§ 2380, eff. 7/24/2019.

Acts 1935, No. 324, § 43; Pope's Dig., § 2106; A.S.A. 1947, § 73-242.
Ark. Code Ann. § 23-75-101 — AR Code / Title 23 / Chapter 75 / Section 23-75-101
Definition
Status: in_force

(a) As used in this chapter, "hospital service corporations", "medical service corporations", and "hospital and medical service corporations" are corporations organized under the laws of this state for the purpose of establishing, maintaining, and operating nonprofit hospital service or medical service plans, or combination of plans, whereby hospital, medical, and related services may be provided by hospitals, physicians, or others with which the corporations have contracted for the purposes, to such of the public as become subscribers to the corporations under contracts which entitle each subscriber to certain hospital or medical services or benefits, or both. (b) This section shall not be deemed to prohibit issuance, by corporations so authorized as of immediately prior to January 1, 1960, of contracts providing for the payment of cash indemnities for hospital, medical, or related services instead of providing for hospital or medical benefits on a service basis or from issuing contracts providing for a combination of indemnity and service benefits. Acts 1959, No. 148, § 672; 1963, No. 54, § 1; A.S.A. 1947, § 66-4902.

(a) As used in this chapter, "hospital service corporations", "medical service corporations", and "hospital and medical service corporations" are corporations organized under the laws of this state for the purpose of establishing, maintaining, and operating nonprofit hospital service or medical service plans, or combination of plans, whereby hospital, medical, and related services may be provided by hospitals, physicians, or others with which the corporations have contracted for the purposes, to such of the public as become subscribers to the corporations under contracts which entitle each subscriber to certain hospital or medical services or benefits, or both.

(b) This section shall not be deemed to prohibit issuance, by corporations so authorized as of immediately prior to January 1, 1960, of contracts providing for the payment of cash indemnities for hospital, medical, or related services instead of providing for hospital or medical benefits on a service basis or from issuing contracts providing for a combination of indemnity and service benefits.

Acts 1959, No. 148, § 672; 1963, No. 54, § 1; A.S.A. 1947, § 66-4902.
Ark. Code Ann. § 23-55-402 — AR Code / Title 23 / Chapter 55 / Section 23-55-402
Application for license
Status: in_force

(a) A person applying for a license under this article shall do so in a form and in a medium prescribed by the commissioner. The application must state or contain: (1) the legal name and residential and business addresses of the applicant, if the applicant is an individual or, if the applicant is not an individual, the name of each partner, executive officer, manager, and director; (2) the location of the principal office of the applicant; (3) complete addresses of other locations in this State where the applicant proposes to engage in currency exchange, including all limited stations and mobile locations; (4) a description of the source of money and credit to be used by the applicant to engage in currency exchange; (5) other information the commissioner reasonably requires with respect to the applicant, but not more than the commissioner may require under § 23-55-201 et seq.; (6) the name of a person submitted by the applicant as the responsible individual and information on that person to include: (A) legal name; (B) residential and business addresses; (C) date of birth; (D) Social Security number; (E) employment history for the five-year period preceding the submission of the application; and (F) documentation that the proposed responsible individual is a citizen of the United States or has obtained legal immigration status to work in the United States; (7) for the ten-year period preceding the submission of the application, a list of any criminal convictions of the proposed responsible individual of the applicant, any litigation involving the proposed responsible individual relating to the provision of money services, and any material litigation in which the applicant has been involved; (8) a list of other states in which the applicant engages in currency exchange or provides other money services and any license revocations, suspensions, restrictions, or other disciplinary action taken against the applicant in another state; (9) a list of any license revocations, suspensions, restrictions, or other disciplinary action taken against any money services business involving the responsible individual of the applicant; and (10) information concerning any bankruptcy or receivership proceedings involving or affecting the applicant or the responsible individual of the applicant. (b) A nonrefundable application fee of $1,500 and a license fee of $375 must accompany an application for a license under this article. The license fee must be refunded if the application is denied. Amended by Act 2021, No. 532,§ 13, eff. 7/28/2021. Amended by Act 2019, No. 111,§ 5, eff. 7/24/2019. Acts 2007, No. 1595, § 1; 2009, No. 486, § 11.

(a) A person applying for a license under this article shall do so in a form and in a medium prescribed by the commissioner. The application must state or contain: (1) the legal name and residential and business addresses of the applicant, if the applicant is an individual or, if the applicant is not an individual, the name of each partner, executive officer, manager, and director; (2) the location of the principal office of the applicant; (3) complete addresses of other locations in this State where the applicant proposes to engage in currency exchange, including all limited stations and mobile locations; (4) a description of the source of money and credit to be used by the applicant to engage in currency exchange; (5) other information the commissioner reasonably requires with respect to the applicant, but not more than the commissioner may require under § 23-55-201 et seq.; (6) the name of a person submitted by the applicant as the responsible individual and information on that person to include: (A) legal name; (B) residential and business addresses; (C) date of birth; (D) Social Security number; (E) employment history for the five-year period preceding the submission of the application; and (F) documentation that the proposed responsible individual is a citizen of the United States or has obtained legal immigration status to work in the United States; (7) for the ten-year period preceding the submission of the application, a list of any criminal convictions of the proposed responsible individual of the applicant, any litigation involving the proposed responsible individual relating to the provision of money services, and any material litigation in which the applicant has been involved; (8) a list of other states in which the applicant engages in currency exchange or provides other money services and any license revocations, suspensions, restrictions, or other disciplinary action taken against the applicant in another state; (9) a list of any license revocations, suspensions, restrictions, or other disciplinary action taken against any money services business involving the responsible individual of the applicant; and (10) information concerning any bankruptcy or receivership proceedings involving or affecting the applicant or the responsible individual of the applicant.

(1) the legal name and residential and business addresses of the applicant, if the applicant is an individual or, if the applicant is not an individual, the name of each partner, executive officer, manager, and director;

(2) the location of the principal office of the applicant;

(3) complete addresses of other locations in this State where the applicant proposes to engage in currency exchange, including all limited stations and mobile locations;

(4) a description of the source of money and credit to be used by the applicant to engage in currency exchange;

(5) other information the commissioner reasonably requires with respect to the applicant, but not more than the commissioner may require under § 23-55-201 et seq.;

(6) the name of a person submitted by the applicant as the responsible individual and information on that person to include: (A) legal name; (B) residential and business addresses; (C) date of birth; (D) Social Security number; (E) employment history for the five-year period preceding the submission of the application; and (F) documentation that the proposed responsible individual is a citizen of the United States or has obtained legal immigration status to work in the United States;

(A) legal name;

(B) residential and business addresses;

(C) date of birth;

(D) Social Security number;

(E) employment history for the five-year period preceding the submission of the application; and

(F) documentation that the proposed responsible individual is a citizen of the United States or has obtained legal immigration status to work in the United States;

(7) for the ten-year period preceding the submission of the application, a list of any criminal convictions of the proposed responsible individual of the applicant, any litigation involving the proposed responsible individual relating to the provision of money services, and any material litigation in which the applicant has been involved;

(8) a list of other states in which the applicant engages in currency exchange or provides other money services and any license revocations, suspensions, restrictions, or other disciplinary action taken against the applicant in another state;

(9) a list of any license revocations, suspensions, restrictions, or other disciplinary action taken against any money services business involving the responsible individual of the applicant; and

(10) information concerning any bankruptcy or receivership proceedings involving or affecting the applicant or the responsible individual of the applicant.

(b) A nonrefundable application fee of $1,500 and a license fee of $375 must accompany an application for a license under this article. The license fee must be refunded if the application is denied.

Amended by Act 2021, No. 532,§ 13, eff. 7/28/2021.

Amended by Act 2019, No. 111,§ 5, eff. 7/24/2019.

Acts 2007, No. 1595, § 1; 2009, No. 486, § 11.
Ark. Code Ann. § 23-99-1403 — AR Code / Title 23 / Chapter 99 / Subchapter 14 / Section 23-99-1403
Definitions
Status: in_force

As used in this subchapter: (1) "Contracting entity" means a healthcare insurer or a subcontractor, affiliate, or other entity that contracts directly or indirectly with a healthcare provider for the delivery of healthcare services to enrollees; (2) "Healthcare contract" means a contract entered into, materially amended, or renewed between a contracting entity and a healthcare provider for the delivery of healthcare services to enrollees; (3) (A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state. (B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; and (v) A sponsor of a nonfederal self-funded governmental plan; (4) "Healthcare provider" means a person or entity that is licensed, certified, or otherwise authorized by the laws of this state to provide healthcare services; and (5) "Temporary hospital facility" means a facility that was previously licensed as an ambulatory surgery center that has: (A) Received a hospital license from the Department of Health; and (B) Enrolled as a hospital under the Centers for Medicare & Medicaid Services' Hospitals Without Walls program. Added by Act 2021, No. 723,§ 1, eff. 7/28/2021.

As used in this subchapter:

(1) "Contracting entity" means a healthcare insurer or a subcontractor, affiliate, or other entity that contracts directly or indirectly with a healthcare provider for the delivery of healthcare services to enrollees;

(2) "Healthcare contract" means a contract entered into, materially amended, or renewed between a contracting entity and a healthcare provider for the delivery of healthcare services to enrollees;

(3) (A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state. (B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; and (v) A sponsor of a nonfederal self-funded governmental plan;

(A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state.

(B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; and (v) A sponsor of a nonfederal self-funded governmental plan;

(i) An insurance company;

(ii) A health maintenance organization;

(iii) A hospital and medical service corporation;

(iv) A risk-based provider organization; and

(v) A sponsor of a nonfederal self-funded governmental plan;

(4) "Healthcare provider" means a person or entity that is licensed, certified, or otherwise authorized by the laws of this state to provide healthcare services; and

(5) "Temporary hospital facility" means a facility that was previously licensed as an ambulatory surgery center that has: (A) Received a hospital license from the Department of Health; and (B) Enrolled as a hospital under the Centers for Medicare & Medicaid Services' Hospitals Without Walls program.

(A) Received a hospital license from the Department of Health; and

(B) Enrolled as a hospital under the Centers for Medicare & Medicaid Services' Hospitals Without Walls program.

Added by Act 2021, No. 723,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 23-12-610 — AR Code / Title 23 / Chapter 12 / Subchapter 6 / Section 23-12-610
Petitions to establish, reestablish, or enlarge service
Status: in_force

A petition for establishment, reestablishment, or enlargement of railroad train service, spurs, sidetracks, and platforms shall be signed by at least twenty-five (25) qualified electors residing in the territory sought to be affected. Acts 1907, No. 149, § 1, p. 356; 1907, No. 338, § 1, p. 821; C. & M. Dig., § 1638; Pope's Dig., § 1959; Acts 1961, No. 203, § 1; A.S.A. 1947, § 73-809.

A petition for establishment, reestablishment, or enlargement of railroad train service, spurs, sidetracks, and platforms shall be signed by at least twenty-five (25) qualified electors residing in the territory sought to be affected.

Acts 1907, No. 149, § 1, p. 356; 1907, No. 338, § 1, p. 821; C. & M. Dig., § 1638; Pope's Dig., § 1959; Acts 1961, No. 203, § 1; A.S.A. 1947, § 73-809.
Ark. Code Ann. § 23-89-502 — AR Code / Title 23 / Chapter 89 / Subchapter 5 / Section 23-89-502
Definitions
Status: in_force

As used in this subchapter: (1) (A) "Amusement attraction" means any building or structure around, over, and through which persons may be moved by vehicle or mechanically driven device integral to the building or structure, and which provides amusement, pleasure, thrills, or excitement. (B) "Amusement attraction" does not include theatres, museums, or enterprises principally devoted to the exhibition of products of agriculture, industry, education, science, religion, or the arts; (2) "Amusement ride" means any mechanical device which carries or conveys passengers along, around, or over a fixed route or course or within a defined area for the purpose of giving the passengers amusement, pleasure, thrills, or excitement and includes the following: (A) Bungee rides or bungee operations which utilize as a component a bungee cord, which is an elastic rope made of rubber, latex, or other elastic-type materials whether natural or synthetic; (B) "Go-kart", which means a ride in which a vehicle is controlled or driven by patrons specifically designed for and run on a fixed course; (C) Inflatable attractions such as "space walks", inflatable slides, or inflatable jousting or boxing rings; (D) Any wave pool, water slide, or other similar attraction that totally or partially immerses a patron in water; and (E) Artificial climbing walls; (3) [Repealed.] (4) [Repealed.] (5) "Nondestructive testing" means the development and application of technical methods, including, but not limited to, radiographic, magnetic particle, ultrasonic, liquid penetrant, electromagnetic, neutron radiographic, acoustic emission, visual, and leak testing to examine materials or components in ways that do not impair their future usefulness and serviceability in order to: (A) Detect, locate, measure, and evaluate discontinuities, defects, and other imperfections; (B) Assess integrity, properties, and composition; and (C) Measure geometrical characters; and (6) "Owner" means any person who owns an amusement ride or attraction or in the event that the amusement ride or attraction is leased, the lessee. Amended by Act 2019, No. 910,§ 5505, eff. 7/1/2019. Acts 1983, No. 837, § 2; A.S.A. 1947, § 66-5902; Acts 1995, No. 631, § 1; 2001, No. 1365, § 1; 2005, No. 924, § 1.

As used in this subchapter:

(1) (A) "Amusement attraction" means any building or structure around, over, and through which persons may be moved by vehicle or mechanically driven device integral to the building or structure, and which provides amusement, pleasure, thrills, or excitement. (B) "Amusement attraction" does not include theatres, museums, or enterprises principally devoted to the exhibition of products of agriculture, industry, education, science, religion, or the arts;

(A) "Amusement attraction" means any building or structure around, over, and through which persons may be moved by vehicle or mechanically driven device integral to the building or structure, and which provides amusement, pleasure, thrills, or excitement.

(B) "Amusement attraction" does not include theatres, museums, or enterprises principally devoted to the exhibition of products of agriculture, industry, education, science, religion, or the arts;

(2) "Amusement ride" means any mechanical device which carries or conveys passengers along, around, or over a fixed route or course or within a defined area for the purpose of giving the passengers amusement, pleasure, thrills, or excitement and includes the following: (A) Bungee rides or bungee operations which utilize as a component a bungee cord, which is an elastic rope made of rubber, latex, or other elastic-type materials whether natural or synthetic; (B) "Go-kart", which means a ride in which a vehicle is controlled or driven by patrons specifically designed for and run on a fixed course; (C) Inflatable attractions such as "space walks", inflatable slides, or inflatable jousting or boxing rings; (D) Any wave pool, water slide, or other similar attraction that totally or partially immerses a patron in water; and (E) Artificial climbing walls;

(A) Bungee rides or bungee operations which utilize as a component a bungee cord, which is an elastic rope made of rubber, latex, or other elastic-type materials whether natural or synthetic;

(B) "Go-kart", which means a ride in which a vehicle is controlled or driven by patrons specifically designed for and run on a fixed course;

(C) Inflatable attractions such as "space walks", inflatable slides, or inflatable jousting or boxing rings;

(D) Any wave pool, water slide, or other similar attraction that totally or partially immerses a patron in water; and

(E) Artificial climbing walls;

(3) [Repealed.]

(4) [Repealed.]

(5) "Nondestructive testing" means the development and application of technical methods, including, but not limited to, radiographic, magnetic particle, ultrasonic, liquid penetrant, electromagnetic, neutron radiographic, acoustic emission, visual, and leak testing to examine materials or components in ways that do not impair their future usefulness and serviceability in order to: (A) Detect, locate, measure, and evaluate discontinuities, defects, and other imperfections; (B) Assess integrity, properties, and composition; and (C) Measure geometrical characters; and

(A) Detect, locate, measure, and evaluate discontinuities, defects, and other imperfections;

(B) Assess integrity, properties, and composition; and

(C) Measure geometrical characters; and

(6) "Owner" means any person who owns an amusement ride or attraction or in the event that the amusement ride or attraction is leased, the lessee.

Amended by Act 2019, No. 910,§ 5505, eff. 7/1/2019.

Acts 1983, No. 837, § 2; A.S.A. 1947, § 66-5902; Acts 1995, No. 631, § 1; 2001, No. 1365, § 1; 2005, No. 924, § 1.
Ark. Code Ann. § 23-100-106 — AR Code / Title 23 / Chapter 100 / Section 23-100-106
Rules
Status: in_force

The Insurance Commissioner may promulgate reasonable rules deemed necessary for the administration of this chapter. Amended by Act 2019, No. 315,§ 2808, eff. 7/24/2019. Acts 1997, No. 337, § 6.

The Insurance Commissioner may promulgate reasonable rules deemed necessary for the administration of this chapter.

Amended by Act 2019, No. 315,§ 2808, eff. 7/24/2019.

Acts 1997, No. 337, § 6.
Ark. Code Ann. § 23-46-203 — AR Code / Title 23 / Chapter 46 / Subchapter 2 / Section 23-46-203
Seal - Evidentiary effect - Fees
Status: in_force

(a) An appropriate seal shall be procured to be the official seal for the State Bank Department. (b) Every paper executed by the Bank Commissioner in pursuance of the authority conferred upon him or her by law and sealed with the seal of the department or certified by the department shall be received in evidence and recorded in the proper recording offices in the same manner as deeds regularly acknowledged. (c) (1) Whenever it is necessary for the commissioner to approve any instrument and to affix the official seal thereto, the commissioner shall charge a fee as provided by rule for affixing his or her approval and the official seal to the instrument. (2) Copies of all records and papers in the office of the department certified by the commissioner and authenticated by the seal shall be received in evidence in all cases equally and of like effect as the originals thereof. (3) Whenever it is proper to furnish a copy of any paper filed in the department and to certify that paper, the commissioner may charge a fee as provided by department rule. Amended by Act 2019, No. 315,§ 2522, eff. 7/24/2019. Acts 1997, No. 89, § 1.

(a) An appropriate seal shall be procured to be the official seal for the State Bank Department.

(b) Every paper executed by the Bank Commissioner in pursuance of the authority conferred upon him or her by law and sealed with the seal of the department or certified by the department shall be received in evidence and recorded in the proper recording offices in the same manner as deeds regularly acknowledged.

(c) (1) Whenever it is necessary for the commissioner to approve any instrument and to affix the official seal thereto, the commissioner shall charge a fee as provided by rule for affixing his or her approval and the official seal to the instrument. (2) Copies of all records and papers in the office of the department certified by the commissioner and authenticated by the seal shall be received in evidence in all cases equally and of like effect as the originals thereof. (3) Whenever it is proper to furnish a copy of any paper filed in the department and to certify that paper, the commissioner may charge a fee as provided by department rule.

(1) Whenever it is necessary for the commissioner to approve any instrument and to affix the official seal thereto, the commissioner shall charge a fee as provided by rule for affixing his or her approval and the official seal to the instrument.

(2) Copies of all records and papers in the office of the department certified by the commissioner and authenticated by the seal shall be received in evidence in all cases equally and of like effect as the originals thereof.

(3) Whenever it is proper to furnish a copy of any paper filed in the department and to certify that paper, the commissioner may charge a fee as provided by department rule.

Amended by Act 2019, No. 315,§ 2522, eff. 7/24/2019.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-4-703 — AR Code / Title 23 / Chapter 4 / Subchapter 7 / Section 23-4-703
Acts 1899, No. 53, not applicable to interstate traffic
Status: in_force

The provisions of this act shall not be construed as to require the Arkansas Department of Transportation to investigate or call upon any railroad or express company for its schedule or tariff of charges in the transportation of passengers or property from any point wholly outside of this state or to in any way interfere with such rates or charges. Amended by Act 2017, No. 707,§ 134, eff. 8/1/2017. Acts 1899, No. 53, § 20, p. 82; C. & M. Dig., § 1629; Pope's Dig., § 1951; A.S.A. 1947, § 73-1520.

The provisions of this act shall not be construed as to require the Arkansas Department of Transportation to investigate or call upon any railroad or express company for its schedule or tariff of charges in the transportation of passengers or property from any point wholly outside of this state or to in any way interfere with such rates or charges.

Amended by Act 2017, No. 707,§ 134, eff. 8/1/2017.

Acts 1899, No. 53, § 20, p. 82; C. & M. Dig., § 1629; Pope's Dig., § 1951; A.S.A. 1947, § 73-1520.