Ark. Code Ann. § 23-18-907 — AR Code / Title 23 / Chapter 18 / Subchapter 9 / Section 23-18-907
Security interests
Status: in_force

(a) (1) The Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., does not apply to storm recovery property or any right, title, or interest of a utility, assignee, or financing party therein except to the extent specified in this subchapter. (2) In addition, the right, title, or interest pertaining to a financing order including without limitation the associated storm recovery property including any revenues, collections, claims, rights to payment, payments, money, or proceeds of or arising from storm recovery charges pursuant to the order, shall not be deemed proceeds of any right or interest other than of the financing order and the storm recovery property arising from the financing order. (3) All revenues and collections resulting from storm recovery property shall constitute proceeds only of the storm recovery property arising from the financing order. (b) Except to the extent provided in this subchapter with respect to filings of financing statements or control of deposit accounts or investment property as original collateral, the creation, attachment, granting, perfection, and priority of security interests in storm recovery property to secure storm recovery bonds is governed solely by this subchapter and not by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (c) (1) A security interest in storm recovery property is valid and enforceable against the utility and its successor or an assignee and third parties and attaches to storm recovery property only after all of the following conditions are met: (A) The issuance of a financing order; (B) The execution and delivery of a security agreement, indenture, or other agreement with a financing party relating to the granting of a security interest in connection with the issuance of storm recovery bonds; and (C) The receipt of value for the storm recovery bonds. (2) A security interest attaches to storm recovery property when all of the foregoing conditions have been met, unless the security agreement expressly postpones the time of attachment. (d) (1) A security interest in storm recovery property is perfected when it has attached and when the applicable financing statement describing the storm recovery property as provided in § 23-18-905(d) has been filed with the Secretary of State. (2) The interest of a secured party is not perfected unless a financing statement sufficient under this subchapter and otherwise according to the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., is filed, and after perfection the secured party's interest continues in the storm recovery property and all proceeds of the storm recovery property, whether or not billed, accrued, or collected, and whether or not deposited into a deposit account and however evidenced; provided however that a security interest granted by the issuer of and securing storm recovery bonds held by a secured party having control of a segregated deposit account or securities account as original collateral into which revenues, collections, or proceeds of storm recovery property are deposited or credited may be perfected by control as provided in subsection (e) of this section. (3) A security interest in proceeds of storm recovery property is a perfected security interest if the security interest in the storm recovery property was perfected under this subchapter. (4) Except as otherwise provided in this subchapter, financing statements required to be filed pursuant to this section shall be filed, indexed, and maintained in the same manner and in the same system of records maintained for the filing of financing statements under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (5) The filing of a financing statement shall be the only method of perfecting a lien or security interest on storm recovery property except as provided in this subsection. (6) A continuation statement need not be filed to maintain the perfection. (e) (1) A perfected security interest in storm recovery property and all proceeds of the storm recovery property, whether or not billed, accrued, or collected, and whether or not deposited into a deposit account and however evidenced, shall have priority over a conflicting lien of any nature in the same collateral property, except a security interest is subordinate to the rights of a person that becomes a lien creditor before the perfection of the security interest. (2) A security interest in storm recovery property which qualifies for priority over a conflicting security interest or lien also has priority over the conflicting security interest or lien in proceeds of the storm recovery property. (3) The relative priority of a perfected security interest of a secured party is not adversely affected by any lien or security interest in a deposit account of the utility that is a collector and into which the revenues are deposited. (4) The priority of a security interest perfected under this section is not defeated or impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds. (5) Any other security interest, other than a prior security interest perfected under this subchapter, that may apply to those funds shall be terminated as to all funds transferred to a segregated account for the benefit of an assignee or a financing party or to an assignee or financing party directly. (6) The perfection by control, the effect of perfection by control, and the priority of a security interest granted by the issuer of and securing storm recovery bonds held by a secured party having control of a segregated deposit account or securities account as original collateral into which revenues, collections, or proceeds of storm recovery property are deposited or credited shall be governed by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., including the choice of law rules in §§ 4-9-301 - 4-9-307 . (f) (1) If a default or termination occurs under the terms of the storm recovery bonds, the secured party may foreclose on or otherwise enforce the security interest in any storm recovery property as if it were a secured party under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (2) A secured party holding a security interest in storm recovery property shall be entitled to exercise all of the same rights and remedies as are available to a secured party under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., to the same extent as if those rights and remedies were stated in this subchapter. (3) A court may order that amounts arising from storm recovery property be transferred to a separate account of the secured party for the financing parties' benefit, to which their security interest shall apply. (4) On application by or on behalf of a secured party to the court of this state specified in this subsection, the court shall order the sequestration and payment to the financing parties of revenues arising from the storm recovery property. (g) (1) A security interest created under this subchapter may provide for a security interest in after-acquired collateral. (2) A security interest granted under this subchapter is not invalid or fraudulent against creditors solely because the grantor or the utility as collector or servicer has the right or ability to commingle the collateral or proceeds, or collect, compromise, enforce, and otherwise deal with collateral. (h) Any action arising under this subchapter to enforce a security interest in any security interest governed by this subchapter or in any storm recovery property, or which otherwise asserts an interest in, or a right in, to, or against any storm recovery property, wherever located or deemed located, shall be brought in the Pulaski County Circuit Court. (i) The priority of the conflicting interests of secured parties in the same interest or rights in any storm recovery property is determined as follows: (1) (A) Conflicting perfected interests or rights of secured parties rank according to priority in time of perfection. (B) Priority dates from the time a filing covering the interest or right is made according to this section and the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.; (2) A perfected interest or right of a secured party has priority over a conflicting unperfected interest or right of an assignee; and (3) A perfected interest or right of a secured party has priority over a person who becomes a lien creditor after the perfection of the secured party's interest or right. (j) (1) The priority of a lien and security interest in storm recovery property perfected under this section is not impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds. (2) Any other security interest that may apply to the storm recovery property shall be terminated when those funds are transferred to a segregated account for the assignee or a financing party. (3) If storm recovery property has been transferred to an assignee or financing party, any proceeds of that storm recovery property shall be held in trust for the assignee or financing party. Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021. Acts 2009, No. 729, § 1.

(a) (1) The Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., does not apply to storm recovery property or any right, title, or interest of a utility, assignee, or financing party therein except to the extent specified in this subchapter. (2) In addition, the right, title, or interest pertaining to a financing order including without limitation the associated storm recovery property including any revenues, collections, claims, rights to payment, payments, money, or proceeds of or arising from storm recovery charges pursuant to the order, shall not be deemed proceeds of any right or interest other than of the financing order and the storm recovery property arising from the financing order. (3) All revenues and collections resulting from storm recovery property shall constitute proceeds only of the storm recovery property arising from the financing order.

(1) The Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., does not apply to storm recovery property or any right, title, or interest of a utility, assignee, or financing party therein except to the extent specified in this subchapter.

(2) In addition, the right, title, or interest pertaining to a financing order including without limitation the associated storm recovery property including any revenues, collections, claims, rights to payment, payments, money, or proceeds of or arising from storm recovery charges pursuant to the order, shall not be deemed proceeds of any right or interest other than of the financing order and the storm recovery property arising from the financing order.

(3) All revenues and collections resulting from storm recovery property shall constitute proceeds only of the storm recovery property arising from the financing order.

(b) Except to the extent provided in this subchapter with respect to filings of financing statements or control of deposit accounts or investment property as original collateral, the creation, attachment, granting, perfection, and priority of security interests in storm recovery property to secure storm recovery bonds is governed solely by this subchapter and not by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.

(c) (1) A security interest in storm recovery property is valid and enforceable against the utility and its successor or an assignee and third parties and attaches to storm recovery property only after all of the following conditions are met: (A) The issuance of a financing order; (B) The execution and delivery of a security agreement, indenture, or other agreement with a financing party relating to the granting of a security interest in connection with the issuance of storm recovery bonds; and (C) The receipt of value for the storm recovery bonds. (2) A security interest attaches to storm recovery property when all of the foregoing conditions have been met, unless the security agreement expressly postpones the time of attachment.

(1) A security interest in storm recovery property is valid and enforceable against the utility and its successor or an assignee and third parties and attaches to storm recovery property only after all of the following conditions are met: (A) The issuance of a financing order; (B) The execution and delivery of a security agreement, indenture, or other agreement with a financing party relating to the granting of a security interest in connection with the issuance of storm recovery bonds; and (C) The receipt of value for the storm recovery bonds.

(A) The issuance of a financing order;

(B) The execution and delivery of a security agreement, indenture, or other agreement with a financing party relating to the granting of a security interest in connection with the issuance of storm recovery bonds; and

(C) The receipt of value for the storm recovery bonds.

(2) A security interest attaches to storm recovery property when all of the foregoing conditions have been met, unless the security agreement expressly postpones the time of attachment.

(d) (1) A security interest in storm recovery property is perfected when it has attached and when the applicable financing statement describing the storm recovery property as provided in § 23-18-905(d) has been filed with the Secretary of State. (2) The interest of a secured party is not perfected unless a financing statement sufficient under this subchapter and otherwise according to the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., is filed, and after perfection the secured party's interest continues in the storm recovery property and all proceeds of the storm recovery property, whether or not billed, accrued, or collected, and whether or not deposited into a deposit account and however evidenced; provided however that a security interest granted by the issuer of and securing storm recovery bonds held by a secured party having control of a segregated deposit account or securities account as original collateral into which revenues, collections, or proceeds of storm recovery property are deposited or credited may be perfected by control as provided in subsection (e) of this section. (3) A security interest in proceeds of storm recovery property is a perfected security interest if the security interest in the storm recovery property was perfected under this subchapter. (4) Except as otherwise provided in this subchapter, financing statements required to be filed pursuant to this section shall be filed, indexed, and maintained in the same manner and in the same system of records maintained for the filing of financing statements under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (5) The filing of a financing statement shall be the only method of perfecting a lien or security interest on storm recovery property except as provided in this subsection. (6) A continuation statement need not be filed to maintain the perfection.

(1) A security interest in storm recovery property is perfected when it has attached and when the applicable financing statement describing the storm recovery property as provided in § 23-18-905(d) has been filed with the Secretary of State.

(2) The interest of a secured party is not perfected unless a financing statement sufficient under this subchapter and otherwise according to the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., is filed, and after perfection the secured party's interest continues in the storm recovery property and all proceeds of the storm recovery property, whether or not billed, accrued, or collected, and whether or not deposited into a deposit account and however evidenced; provided however that a security interest granted by the issuer of and securing storm recovery bonds held by a secured party having control of a segregated deposit account or securities account as original collateral into which revenues, collections, or proceeds of storm recovery property are deposited or credited may be perfected by control as provided in subsection (e) of this section.

(3) A security interest in proceeds of storm recovery property is a perfected security interest if the security interest in the storm recovery property was perfected under this subchapter.

(4) Except as otherwise provided in this subchapter, financing statements required to be filed pursuant to this section shall be filed, indexed, and maintained in the same manner and in the same system of records maintained for the filing of financing statements under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.

(5) The filing of a financing statement shall be the only method of perfecting a lien or security interest on storm recovery property except as provided in this subsection.

(6) A continuation statement need not be filed to maintain the perfection.

(e) (1) A perfected security interest in storm recovery property and all proceeds of the storm recovery property, whether or not billed, accrued, or collected, and whether or not deposited into a deposit account and however evidenced, shall have priority over a conflicting lien of any nature in the same collateral property, except a security interest is subordinate to the rights of a person that becomes a lien creditor before the perfection of the security interest. (2) A security interest in storm recovery property which qualifies for priority over a conflicting security interest or lien also has priority over the conflicting security interest or lien in proceeds of the storm recovery property. (3) The relative priority of a perfected security interest of a secured party is not adversely affected by any lien or security interest in a deposit account of the utility that is a collector and into which the revenues are deposited. (4) The priority of a security interest perfected under this section is not defeated or impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds. (5) Any other security interest, other than a prior security interest perfected under this subchapter, that may apply to those funds shall be terminated as to all funds transferred to a segregated account for the benefit of an assignee or a financing party or to an assignee or financing party directly. (6) The perfection by control, the effect of perfection by control, and the priority of a security interest granted by the issuer of and securing storm recovery bonds held by a secured party having control of a segregated deposit account or securities account as original collateral into which revenues, collections, or proceeds of storm recovery property are deposited or credited shall be governed by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., including the choice of law rules in §§ 4-9-301 - 4-9-307 .

(1) A perfected security interest in storm recovery property and all proceeds of the storm recovery property, whether or not billed, accrued, or collected, and whether or not deposited into a deposit account and however evidenced, shall have priority over a conflicting lien of any nature in the same collateral property, except a security interest is subordinate to the rights of a person that becomes a lien creditor before the perfection of the security interest.

(2) A security interest in storm recovery property which qualifies for priority over a conflicting security interest or lien also has priority over the conflicting security interest or lien in proceeds of the storm recovery property.

(3) The relative priority of a perfected security interest of a secured party is not adversely affected by any lien or security interest in a deposit account of the utility that is a collector and into which the revenues are deposited.

(4) The priority of a security interest perfected under this section is not defeated or impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds.

(5) Any other security interest, other than a prior security interest perfected under this subchapter, that may apply to those funds shall be terminated as to all funds transferred to a segregated account for the benefit of an assignee or a financing party or to an assignee or financing party directly.

(6) The perfection by control, the effect of perfection by control, and the priority of a security interest granted by the issuer of and securing storm recovery bonds held by a secured party having control of a segregated deposit account or securities account as original collateral into which revenues, collections, or proceeds of storm recovery property are deposited or credited shall be governed by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., including the choice of law rules in §§ 4-9-301 - 4-9-307 .

(f) (1) If a default or termination occurs under the terms of the storm recovery bonds, the secured party may foreclose on or otherwise enforce the security interest in any storm recovery property as if it were a secured party under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (2) A secured party holding a security interest in storm recovery property shall be entitled to exercise all of the same rights and remedies as are available to a secured party under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., to the same extent as if those rights and remedies were stated in this subchapter. (3) A court may order that amounts arising from storm recovery property be transferred to a separate account of the secured party for the financing parties' benefit, to which their security interest shall apply. (4) On application by or on behalf of a secured party to the court of this state specified in this subsection, the court shall order the sequestration and payment to the financing parties of revenues arising from the storm recovery property.

(1) If a default or termination occurs under the terms of the storm recovery bonds, the secured party may foreclose on or otherwise enforce the security interest in any storm recovery property as if it were a secured party under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.

(2) A secured party holding a security interest in storm recovery property shall be entitled to exercise all of the same rights and remedies as are available to a secured party under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., to the same extent as if those rights and remedies were stated in this subchapter.

(3) A court may order that amounts arising from storm recovery property be transferred to a separate account of the secured party for the financing parties' benefit, to which their security interest shall apply.

(4) On application by or on behalf of a secured party to the court of this state specified in this subsection, the court shall order the sequestration and payment to the financing parties of revenues arising from the storm recovery property.

(g) (1) A security interest created under this subchapter may provide for a security interest in after-acquired collateral. (2) A security interest granted under this subchapter is not invalid or fraudulent against creditors solely because the grantor or the utility as collector or servicer has the right or ability to commingle the collateral or proceeds, or collect, compromise, enforce, and otherwise deal with collateral.

(1) A security interest created under this subchapter may provide for a security interest in after-acquired collateral.

(2) A security interest granted under this subchapter is not invalid or fraudulent against creditors solely because the grantor or the utility as collector or servicer has the right or ability to commingle the collateral or proceeds, or collect, compromise, enforce, and otherwise deal with collateral.

(h) Any action arising under this subchapter to enforce a security interest in any security interest governed by this subchapter or in any storm recovery property, or which otherwise asserts an interest in, or a right in, to, or against any storm recovery property, wherever located or deemed located, shall be brought in the Pulaski County Circuit Court.

(i) The priority of the conflicting interests of secured parties in the same interest or rights in any storm recovery property is determined as follows: (1) (A) Conflicting perfected interests or rights of secured parties rank according to priority in time of perfection. (B) Priority dates from the time a filing covering the interest or right is made according to this section and the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.; (2) A perfected interest or right of a secured party has priority over a conflicting unperfected interest or right of an assignee; and (3) A perfected interest or right of a secured party has priority over a person who becomes a lien creditor after the perfection of the secured party's interest or right.

(1) (A) Conflicting perfected interests or rights of secured parties rank according to priority in time of perfection. (B) Priority dates from the time a filing covering the interest or right is made according to this section and the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.;

(A) Conflicting perfected interests or rights of secured parties rank according to priority in time of perfection.

(B) Priority dates from the time a filing covering the interest or right is made according to this section and the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.;

(2) A perfected interest or right of a secured party has priority over a conflicting unperfected interest or right of an assignee; and

(3) A perfected interest or right of a secured party has priority over a person who becomes a lien creditor after the perfection of the secured party's interest or right.

(j) (1) The priority of a lien and security interest in storm recovery property perfected under this section is not impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds. (2) Any other security interest that may apply to the storm recovery property shall be terminated when those funds are transferred to a segregated account for the assignee or a financing party. (3) If storm recovery property has been transferred to an assignee or financing party, any proceeds of that storm recovery property shall be held in trust for the assignee or financing party.

(1) The priority of a lien and security interest in storm recovery property perfected under this section is not impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds.

(2) Any other security interest that may apply to the storm recovery property shall be terminated when those funds are transferred to a segregated account for the assignee or a financing party.

(3) If storm recovery property has been transferred to an assignee or financing party, any proceeds of that storm recovery property shall be held in trust for the assignee or financing party.

Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021.

Acts 2009, No. 729, § 1.
Ark. Code Ann. § 23-87-112 — AR Code / Title 23 / Chapter 87 / Section 23-87-112
Filing, approval, and withdrawal of policies, certificates, notices, etc
Status: in_force

(a) All policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements, and riders shall be filed with the insurance commissioner in the state in which the policy is issued. (b) Within thirty (30) days after the filing of all policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements, and riders, in addition to other requirements of law, the commissioner may disapprove the form if the table of premium rates charged or to be charged appears by reasonable assumptions to be excessive in relation to benefits or if it contains provisions that are unjust, unfair, inequitable, misleading, or deceptive or encourage misrepresentation of the policy. (c) (1) If the commissioner notifies the insurer that the form does not comply with this section, it is unlawful thereafter for the insurer to issue or use the form. (2) In the notice, the commissioner shall specify the reason for his or her disapproval and state that a hearing will be granted within twenty (20) days after request in writing by the insurer. (3) No policy, certificate of insurance, notice of proposed insurance and no application, binder, endorsement, or rider shall be issued or used until the expiration of thirty (30) days after it has been so filed unless the commissioner gives his or her prior written approval thereto. (d) At any time after a hearing, of which not less than twenty (20) days' written notice was given to the insurer, the commissioner may withdraw his or her approval of any form on any such grounds. (e) It is not lawful for the insurer to issue the forms or use them after the effective date of the withdrawal of approval. (f) Any order or final determination of the commissioner under the provisions of this section shall be subject to judicial review. Acts 1959, No. 148, § 436; A.S.A. 1947, § 66-3810; Acts 2003, No. 1794, § 4.

(a) All policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements, and riders shall be filed with the insurance commissioner in the state in which the policy is issued.

(b) Within thirty (30) days after the filing of all policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements, and riders, in addition to other requirements of law, the commissioner may disapprove the form if the table of premium rates charged or to be charged appears by reasonable assumptions to be excessive in relation to benefits or if it contains provisions that are unjust, unfair, inequitable, misleading, or deceptive or encourage misrepresentation of the policy.

(c) (1) If the commissioner notifies the insurer that the form does not comply with this section, it is unlawful thereafter for the insurer to issue or use the form. (2) In the notice, the commissioner shall specify the reason for his or her disapproval and state that a hearing will be granted within twenty (20) days after request in writing by the insurer. (3) No policy, certificate of insurance, notice of proposed insurance and no application, binder, endorsement, or rider shall be issued or used until the expiration of thirty (30) days after it has been so filed unless the commissioner gives his or her prior written approval thereto.

(1) If the commissioner notifies the insurer that the form does not comply with this section, it is unlawful thereafter for the insurer to issue or use the form.

(2) In the notice, the commissioner shall specify the reason for his or her disapproval and state that a hearing will be granted within twenty (20) days after request in writing by the insurer.

(3) No policy, certificate of insurance, notice of proposed insurance and no application, binder, endorsement, or rider shall be issued or used until the expiration of thirty (30) days after it has been so filed unless the commissioner gives his or her prior written approval thereto.

(d) At any time after a hearing, of which not less than twenty (20) days' written notice was given to the insurer, the commissioner may withdraw his or her approval of any form on any such grounds.

(e) It is not lawful for the insurer to issue the forms or use them after the effective date of the withdrawal of approval.

(f) Any order or final determination of the commissioner under the provisions of this section shall be subject to judicial review.

Acts 1959, No. 148, § 436; A.S.A. 1947, § 66-3810; Acts 2003, No. 1794, § 4.
Ark. Code Ann. § 23-99-1115 — AR Code / Title 23 / Chapter 99 / Subchapter 11 / Section 23-99-1115
Notice requirements - Process for appealing adverse determination and restriction or denial of healthcare service
Status: in_force

(a) (1) Notice of an adverse determination shall be provided to the healthcare provider that initiated the prior authorization. (2) Notice may be made by electronic mail, fax, or hard copy letter sent by regular mail, or verbally, as requested by the subscriber's healthcare provider. (b) The written or verbal notice required under this section shall include: (1) The following information: (A) The name, title, and telephone number of the physician responsible for making the adverse determination and, in the event that the physician responsible for making the adverse determination is not available, a telephone number where a peer-to-peer contact with another physician regarding the adverse determination can be made; (B) The reviewing physician's board certification status or board eligibility; and (C) A list of states in which the reviewing physician is licensed and the license number issued to the reviewing physician by each state; (2) The written clinical criteria, if any, and any internal rule, guideline, or protocol on which the utilization review entity relied when making the adverse determination and how those provisions apply to the subscriber's specific medical circumstance; (3) Information for the subscriber and the subscriber's healthcare provider that describes the procedure through which the subscriber or healthcare provider may request a copy of any report developed by personnel performing the review that led to the adverse determination; and (4) (A) Information that explains to the subscriber and the subscriber's healthcare provider the right to appeal the adverse determination. (B) The information required under subdivision (b)(4)(A) of this section shall include: (i) Instructions concerning how to perfect an appeal and how the subscriber and the subscriber's healthcare provider may ensure that written materials supporting the appeal will be considered in the appeal process; and (ii) (a) Addresses and telephone numbers to be used by healthcare providers and subscribers to make complaints to the Arkansas State Medical Board, the State Board of Health, and the State Insurance Department. (b) Subdivision (b)(4)(B)(ii) (a) of this section does not apply to self-insured plans for employees of governmental entities. (c) (1) When a healthcare service for the treatment or diagnosis of any medical condition is restricted or denied in favor of a fail first protocol preferred by the utilization review entity, the subscriber's healthcare provider shall have access to a clear and convenient process to expeditiously request an override of that restriction or denial from the utilization review entity or healthcare insurer. (2) Upon request, the subscriber's healthcare provider shall be provided contact information, including a phone number, for a person to initiate the request for an expeditious override of the restriction or denial. (d) The appeal process described in subdivision (b)(4) of this section shall not apply when a healthcare service is denied because the healthcare service is within a category of healthcare services not covered by the health benefit plan. Amended by Act 2021, No. 97,§ 6, eff. 7/28/2021. Amended by Act 2019, No. 391,§ 14, eff. 7/24/2019. Added by Act 2017, No. 815,§ 12, eff. 8/1/2017.

(a) (1) Notice of an adverse determination shall be provided to the healthcare provider that initiated the prior authorization. (2) Notice may be made by electronic mail, fax, or hard copy letter sent by regular mail, or verbally, as requested by the subscriber's healthcare provider.

(1) Notice of an adverse determination shall be provided to the healthcare provider that initiated the prior authorization.

(2) Notice may be made by electronic mail, fax, or hard copy letter sent by regular mail, or verbally, as requested by the subscriber's healthcare provider.

(b) The written or verbal notice required under this section shall include: (1) The following information: (A) The name, title, and telephone number of the physician responsible for making the adverse determination and, in the event that the physician responsible for making the adverse determination is not available, a telephone number where a peer-to-peer contact with another physician regarding the adverse determination can be made; (B) The reviewing physician's board certification status or board eligibility; and (C) A list of states in which the reviewing physician is licensed and the license number issued to the reviewing physician by each state; (2) The written clinical criteria, if any, and any internal rule, guideline, or protocol on which the utilization review entity relied when making the adverse determination and how those provisions apply to the subscriber's specific medical circumstance; (3) Information for the subscriber and the subscriber's healthcare provider that describes the procedure through which the subscriber or healthcare provider may request a copy of any report developed by personnel performing the review that led to the adverse determination; and (4) (A) Information that explains to the subscriber and the subscriber's healthcare provider the right to appeal the adverse determination. (B) The information required under subdivision (b)(4)(A) of this section shall include: (i) Instructions concerning how to perfect an appeal and how the subscriber and the subscriber's healthcare provider may ensure that written materials supporting the appeal will be considered in the appeal process; and (ii) (a) Addresses and telephone numbers to be used by healthcare providers and subscribers to make complaints to the Arkansas State Medical Board, the State Board of Health, and the State Insurance Department. (b) Subdivision (b)(4)(B)(ii) (a) of this section does not apply to self-insured plans for employees of governmental entities. (c) (1) When a healthcare service for the treatment or diagnosis of any medical condition is restricted or denied in favor of a fail first protocol preferred by the utilization review entity, the subscriber's healthcare provider shall have access to a clear and convenient process to expeditiously request an override of that restriction or denial from the utilization review entity or healthcare insurer. (2) Upon request, the subscriber's healthcare provider shall be provided contact information, including a phone number, for a person to initiate the request for an expeditious override of the restriction or denial. (d) The appeal process described in subdivision (b)(4) of this section shall not apply when a healthcare service is denied because the healthcare service is within a category of healthcare services not covered by the health benefit plan.

(1) The following information: (A) The name, title, and telephone number of the physician responsible for making the adverse determination and, in the event that the physician responsible for making the adverse determination is not available, a telephone number where a peer-to-peer contact with another physician regarding the adverse determination can be made; (B) The reviewing physician's board certification status or board eligibility; and (C) A list of states in which the reviewing physician is licensed and the license number issued to the reviewing physician by each state;

(A) The name, title, and telephone number of the physician responsible for making the adverse determination and, in the event that the physician responsible for making the adverse determination is not available, a telephone number where a peer-to-peer contact with another physician regarding the adverse determination can be made;

(B) The reviewing physician's board certification status or board eligibility; and

(C) A list of states in which the reviewing physician is licensed and the license number issued to the reviewing physician by each state;

(2) The written clinical criteria, if any, and any internal rule, guideline, or protocol on which the utilization review entity relied when making the adverse determination and how those provisions apply to the subscriber's specific medical circumstance;

(3) Information for the subscriber and the subscriber's healthcare provider that describes the procedure through which the subscriber or healthcare provider may request a copy of any report developed by personnel performing the review that led to the adverse determination; and

(4) (A) Information that explains to the subscriber and the subscriber's healthcare provider the right to appeal the adverse determination. (B) The information required under subdivision (b)(4)(A) of this section shall include: (i) Instructions concerning how to perfect an appeal and how the subscriber and the subscriber's healthcare provider may ensure that written materials supporting the appeal will be considered in the appeal process; and (ii) (a) Addresses and telephone numbers to be used by healthcare providers and subscribers to make complaints to the Arkansas State Medical Board, the State Board of Health, and the State Insurance Department. (b) Subdivision (b)(4)(B)(ii) (a) of this section does not apply to self-insured plans for employees of governmental entities. (c) (1) When a healthcare service for the treatment or diagnosis of any medical condition is restricted or denied in favor of a fail first protocol preferred by the utilization review entity, the subscriber's healthcare provider shall have access to a clear and convenient process to expeditiously request an override of that restriction or denial from the utilization review entity or healthcare insurer. (2) Upon request, the subscriber's healthcare provider shall be provided contact information, including a phone number, for a person to initiate the request for an expeditious override of the restriction or denial. (d) The appeal process described in subdivision (b)(4) of this section shall not apply when a healthcare service is denied because the healthcare service is within a category of healthcare services not covered by the health benefit plan.

(A) Information that explains to the subscriber and the subscriber's healthcare provider the right to appeal the adverse determination.

(B) The information required under subdivision (b)(4)(A) of this section shall include: (i) Instructions concerning how to perfect an appeal and how the subscriber and the subscriber's healthcare provider may ensure that written materials supporting the appeal will be considered in the appeal process; and (ii) (a) Addresses and telephone numbers to be used by healthcare providers and subscribers to make complaints to the Arkansas State Medical Board, the State Board of Health, and the State Insurance Department. (b) Subdivision (b)(4)(B)(ii) (a) of this section does not apply to self-insured plans for employees of governmental entities. (c) (1) When a healthcare service for the treatment or diagnosis of any medical condition is restricted or denied in favor of a fail first protocol preferred by the utilization review entity, the subscriber's healthcare provider shall have access to a clear and convenient process to expeditiously request an override of that restriction or denial from the utilization review entity or healthcare insurer. (2) Upon request, the subscriber's healthcare provider shall be provided contact information, including a phone number, for a person to initiate the request for an expeditious override of the restriction or denial. (d) The appeal process described in subdivision (b)(4) of this section shall not apply when a healthcare service is denied because the healthcare service is within a category of healthcare services not covered by the health benefit plan.

(i) Instructions concerning how to perfect an appeal and how the subscriber and the subscriber's healthcare provider may ensure that written materials supporting the appeal will be considered in the appeal process; and

(ii) (a) Addresses and telephone numbers to be used by healthcare providers and subscribers to make complaints to the Arkansas State Medical Board, the State Board of Health, and the State Insurance Department. (b) Subdivision (b)(4)(B)(ii) (a) of this section does not apply to self-insured plans for employees of governmental entities. (c) (1) When a healthcare service for the treatment or diagnosis of any medical condition is restricted or denied in favor of a fail first protocol preferred by the utilization review entity, the subscriber's healthcare provider shall have access to a clear and convenient process to expeditiously request an override of that restriction or denial from the utilization review entity or healthcare insurer. (2) Upon request, the subscriber's healthcare provider shall be provided contact information, including a phone number, for a person to initiate the request for an expeditious override of the restriction or denial. (d) The appeal process described in subdivision (b)(4) of this section shall not apply when a healthcare service is denied because the healthcare service is within a category of healthcare services not covered by the health benefit plan.

(a) Addresses and telephone numbers to be used by healthcare providers and subscribers to make complaints to the Arkansas State Medical Board, the State Board of Health, and the State Insurance Department.

(b) Subdivision (b)(4)(B)(ii) (a) of this section does not apply to self-insured plans for employees of governmental entities.

(c) (1) When a healthcare service for the treatment or diagnosis of any medical condition is restricted or denied in favor of a fail first protocol preferred by the utilization review entity, the subscriber's healthcare provider shall have access to a clear and convenient process to expeditiously request an override of that restriction or denial from the utilization review entity or healthcare insurer. (2) Upon request, the subscriber's healthcare provider shall be provided contact information, including a phone number, for a person to initiate the request for an expeditious override of the restriction or denial.

(1) When a healthcare service for the treatment or diagnosis of any medical condition is restricted or denied in favor of a fail first protocol preferred by the utilization review entity, the subscriber's healthcare provider shall have access to a clear and convenient process to expeditiously request an override of that restriction or denial from the utilization review entity or healthcare insurer.

(2) Upon request, the subscriber's healthcare provider shall be provided contact information, including a phone number, for a person to initiate the request for an expeditious override of the restriction or denial.

(d) The appeal process described in subdivision (b)(4) of this section shall not apply when a healthcare service is denied because the healthcare service is within a category of healthcare services not covered by the health benefit plan.

Amended by Act 2021, No. 97,§ 6, eff. 7/28/2021.

Amended by Act 2019, No. 391,§ 14, eff. 7/24/2019.

Added by Act 2017, No. 815,§ 12, eff. 8/1/2017.
Ark. Code Ann. § 23-115-307 — AR Code / Title 23 / Chapter 115 / Subchapter 3 / Section 23-115-307
Expansion pool
Status: in_force

(a) The Office of the Arkansas Lottery is authorized a pool of ten (10) positions to be used to establish additional positions with the proper title and pay grade if the office does not have sufficient positions available to address growth needs. (b) A position established under this section may exceed the highest salary rate established for the grade in this subchapter. (c) A position shall not be authorized from the expansion pool until the specific position that is requested by the office is reviewed by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee. (d) When seeking review of a position by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, under this section, the office shall provide an organizational chart indicating the current structure of the office and its employees. (e) (1) The requirement of review by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, before authorizing a position from the expansion pool is not a severable part of this section. (2) If the requirement of review by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, is ruled unconstitutional by a court of competent jurisdiction, this section is void. Amended by Act 2017, No. 693,§ 2, eff. 8/1/2017. Amended by Act 2015, No. 1258,§ 29, eff. 7/22/2015. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 34.

(a) The Office of the Arkansas Lottery is authorized a pool of ten (10) positions to be used to establish additional positions with the proper title and pay grade if the office does not have sufficient positions available to address growth needs.

(b) A position established under this section may exceed the highest salary rate established for the grade in this subchapter.

(c) A position shall not be authorized from the expansion pool until the specific position that is requested by the office is reviewed by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee.

(d) When seeking review of a position by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, under this section, the office shall provide an organizational chart indicating the current structure of the office and its employees.

(e) (1) The requirement of review by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, before authorizing a position from the expansion pool is not a severable part of this section. (2) If the requirement of review by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, is ruled unconstitutional by a court of competent jurisdiction, this section is void.

(1) The requirement of review by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, before authorizing a position from the expansion pool is not a severable part of this section.

(2) If the requirement of review by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, is ruled unconstitutional by a court of competent jurisdiction, this section is void.

Amended by Act 2017, No. 693,§ 2, eff. 8/1/2017.

Amended by Act 2015, No. 1258,§ 29, eff. 7/22/2015.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 34.
Ark. Code Ann. § 23-12-501 — AR Code / Title 23 / Chapter 12 / Subchapter 5 / Section 23-12-501
Definitions for sections 23-12-501 - 23-12-507
Status: in_force

As used in this section and §§ 23-12-502 - 23-12-507 , unless the context otherwise requires, "common carrier by railroad" or "common carrier" shall be taken to embrace any company, association, corporation, or person managing, maintaining, operating, or in possession of a common carrier operating upon rails or tracks in whole or in part within this state whether as owner, contractor, lessee, mortgagee, trustee, assignee, or receiver. Acts 1911, No. 88, § 4; C. & M. Dig., § 7141; Pope's Dig., § 9127; A.S.A. 1947, § 73-917.

As used in this section and §§ 23-12-502 - 23-12-507 , unless the context otherwise requires, "common carrier by railroad" or "common carrier" shall be taken to embrace any company, association, corporation, or person managing, maintaining, operating, or in possession of a common carrier operating upon rails or tracks in whole or in part within this state whether as owner, contractor, lessee, mortgagee, trustee, assignee, or receiver.

Acts 1911, No. 88, § 4; C. & M. Dig., § 7141; Pope's Dig., § 9127; A.S.A. 1947, § 73-917.
Ark. Code Ann. § 23-35-601 — AR Code / Title 23 / Chapter 35 / Subchapter 6 / Section 23-35-601
Powers generally
Status: in_force

A credit union shall have power to: (1) Make contracts; (2) Sue and be sued in the name of the credit union; (3) Adopt and use a common seal and alter it at pleasure; (4) Purchase, hold, and dispose of property necessary or incidental to its operations; (5) Require the payment of an entrance or membership fee by any applicant admitted to membership; (6) Receive from its members payments on shares, which shall include the right to conduct Christmas clubs, vacation clubs, and other such thrift organizations within the membership; (7) Lend its funds to its members as provided in this chapter; (8) Purchase insurance on the lives of its members in an amount equal to their respective share and loan balances or any or all of them; (9) Borrow from any source in an aggregate amount not exceeding sixty percent (60%) of the share balances; (10) Invest surplus funds as provided in this chapter; (11) Make deposits in checking or similar type of accounts in state-chartered and federally chartered banks, savings and loan associations, savings banks, and credit unions, which accounts are insured by the Federal Deposit Insurance Corporation, Federal Savings and Loan Insurance Corporation [abolished], or the National Credit Union Administration; (12) Hold membership in other credit unions organized under this chapter or other acts, in the Arkansas Credit Union League, and in other organizations composed of credit unions; (13) Declare dividends as provided in this chapter; (14) Impress a lien upon the shares and accumulation of dividends and interest of any member to the extent of any loans made to him or her directly or indirectly, or on which he or she is surety, and for any dues or charges payable by him or her; (15) Change its place of business in Arkansas with written notice to the State Credit Union Supervisor; and (16) Exercise the powers granted corporations organized under the laws of Arkansas and such additional incidental powers as may be necessary or requisite to enable it to promote and effectively carry on its purposes. Acts 1971, No. 132, § 5; 1975, No. 530, §§ 3, 4; 1985, No. 936, § 2; A.S.A. 1947, § 67-905.

A credit union shall have power to:

(1) Make contracts;

(2) Sue and be sued in the name of the credit union;

(3) Adopt and use a common seal and alter it at pleasure;

(4) Purchase, hold, and dispose of property necessary or incidental to its operations;

(5) Require the payment of an entrance or membership fee by any applicant admitted to membership;

(6) Receive from its members payments on shares, which shall include the right to conduct Christmas clubs, vacation clubs, and other such thrift organizations within the membership;

(7) Lend its funds to its members as provided in this chapter;

(8) Purchase insurance on the lives of its members in an amount equal to their respective share and loan balances or any or all of them;

(9) Borrow from any source in an aggregate amount not exceeding sixty percent (60%) of the share balances;

(10) Invest surplus funds as provided in this chapter;

(11) Make deposits in checking or similar type of accounts in state-chartered and federally chartered banks, savings and loan associations, savings banks, and credit unions, which accounts are insured by the Federal Deposit Insurance Corporation, Federal Savings and Loan Insurance Corporation [abolished], or the National Credit Union Administration;

(12) Hold membership in other credit unions organized under this chapter or other acts, in the Arkansas Credit Union League, and in other organizations composed of credit unions;

(13) Declare dividends as provided in this chapter;

(14) Impress a lien upon the shares and accumulation of dividends and interest of any member to the extent of any loans made to him or her directly or indirectly, or on which he or she is surety, and for any dues or charges payable by him or her;

(15) Change its place of business in Arkansas with written notice to the State Credit Union Supervisor; and

(16) Exercise the powers granted corporations organized under the laws of Arkansas and such additional incidental powers as may be necessary or requisite to enable it to promote and effectively carry on its purposes.

Acts 1971, No. 132, § 5; 1975, No. 530, §§ 3, 4; 1985, No. 936, § 2; A.S.A. 1947, § 67-905.
Ark. Code Ann. § 23-3-301 — AR Code / Title 23 / Chapter 3 / Subchapter 3 / Section 23-3-301
Legislative determination
Status: in_force

(a) The methods and manner in which utility services are provided by domestic public utilities to the citizens, businesses, institutions, and other utility customers in Arkansas are directly related to the continued health, safety, and welfare of the citizens of Arkansas. Homes, schools, churches, places of business, and other facilities necessarily used and occupied by the citizens of Arkansas depend upon and must receive safe, reliable, and justly priced utility services. (b) The merger or acquisition or attempted acquisition of control of a domestic public utility may, if not regulated by the State of Arkansas: (1) Diminish the ability or determination of the domestic public utility to meet its contractual obligations or render the same level of service that the domestic public utility is currently rendering; (2) Substantially lessen competition in the furnishing of utility service; (3) Jeopardize the financial stability of the domestic public utility; (4) Be detrimental to the customers of the domestic public utility and not be in the public interest; or (5) Lead to the control or operation of the domestic public utility by persons of such competence, experience, or integrity that would not be in the interest of the domestic public utility's customers or the public. Acts 1985, No. 343, § 13; A.S.A. 1947, § 73-142.

(a) The methods and manner in which utility services are provided by domestic public utilities to the citizens, businesses, institutions, and other utility customers in Arkansas are directly related to the continued health, safety, and welfare of the citizens of Arkansas. Homes, schools, churches, places of business, and other facilities necessarily used and occupied by the citizens of Arkansas depend upon and must receive safe, reliable, and justly priced utility services.

(b) The merger or acquisition or attempted acquisition of control of a domestic public utility may, if not regulated by the State of Arkansas: (1) Diminish the ability or determination of the domestic public utility to meet its contractual obligations or render the same level of service that the domestic public utility is currently rendering; (2) Substantially lessen competition in the furnishing of utility service; (3) Jeopardize the financial stability of the domestic public utility; (4) Be detrimental to the customers of the domestic public utility and not be in the public interest; or (5) Lead to the control or operation of the domestic public utility by persons of such competence, experience, or integrity that would not be in the interest of the domestic public utility's customers or the public.

(1) Diminish the ability or determination of the domestic public utility to meet its contractual obligations or render the same level of service that the domestic public utility is currently rendering;

(2) Substantially lessen competition in the furnishing of utility service;

(3) Jeopardize the financial stability of the domestic public utility;

(4) Be detrimental to the customers of the domestic public utility and not be in the public interest; or

(5) Lead to the control or operation of the domestic public utility by persons of such competence, experience, or integrity that would not be in the interest of the domestic public utility's customers or the public.

Acts 1985, No. 343, § 13; A.S.A. 1947, § 73-142.
Ark. Code Ann. § 23-13-252 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-252
Receipts or bills of lading
Status: in_force

(a) Every carrier of property by motor vehicle subject to the provisions of this subchapter which receives property for transportation within this state shall issue a receipt or bill of lading therefor. (b) The form of the receipt or bill of lading shall be prescribed by the Arkansas Department of Transportation and shall conform as nearly as may be consistent with the public interest to the receipt or bill of lading prescribed for interstate carriers of property under the Interstate Commerce Act [repealed], as amended. (c) The rights and liabilities of the shippers, consignors, consignees, and carriers, whether originating carriers, intermediate carriers, or delivering carriers, shall be those defined by Section 20, Subsection 11 of Part I of the Interstate Commerce Act [repealed], as amended. Acts 1955, No. 397, § 19; A.S.A. 1947, § 73-1772.

(a) Every carrier of property by motor vehicle subject to the provisions of this subchapter which receives property for transportation within this state shall issue a receipt or bill of lading therefor.

(b) The form of the receipt or bill of lading shall be prescribed by the Arkansas Department of Transportation and shall conform as nearly as may be consistent with the public interest to the receipt or bill of lading prescribed for interstate carriers of property under the Interstate Commerce Act [repealed], as amended.

(c) The rights and liabilities of the shippers, consignors, consignees, and carriers, whether originating carriers, intermediate carriers, or delivering carriers, shall be those defined by Section 20, Subsection 11 of Part I of the Interstate Commerce Act [repealed], as amended.

Acts 1955, No. 397, § 19; A.S.A. 1947, § 73-1772.
Ark. Code Ann. § 23-87-105 — AR Code / Title 23 / Chapter 87 / Section 23-87-105
Construction
Status: in_force

(a) Nothing in this chapter is intended to prohibit or discourage reasonable competition. (b) The provisions of this chapter shall be liberally construed. Acts 1959, No. 148, § 427; A.S.A. 1947, § 66-3801.

(a) Nothing in this chapter is intended to prohibit or discourage reasonable competition.

(b) The provisions of this chapter shall be liberally construed.

Acts 1959, No. 148, § 427; A.S.A. 1947, § 66-3801.
Ark. Code Ann. § 23-95-103 — AR Code / Title 23 / Chapter 95 / Section 23-95-103
Governing board
Status: in_force

There is created a governing board of seven (7) members to be appointed by the Insurance Commissioner which shall meet as necessary to review and prescribe operating procedures and rules to implement any plan promulgated pursuant to this chapter. The board shall be composed of the following members: (1) The Insurance Commissioner, who shall serve as chair; (2) Two (2) representatives from insurers licensed to operate in this state; (3) Two (2) representatives who are licensed insurance agents in this state; and (4) Two (2) consumer representatives. Acts 1987, No. 896, § 6.

There is created a governing board of seven (7) members to be appointed by the Insurance Commissioner which shall meet as necessary to review and prescribe operating procedures and rules to implement any plan promulgated pursuant to this chapter. The board shall be composed of the following members:

(1) The Insurance Commissioner, who shall serve as chair;

(2) Two (2) representatives from insurers licensed to operate in this state;

(3) Two (2) representatives who are licensed insurance agents in this state; and

(4) Two (2) consumer representatives.

Acts 1987, No. 896, § 6.
Ark. Code Ann. § 23-73-105 — AR Code / Title 23 / Chapter 73 / Section 23-73-105
Organization - Membership - Insurance coverage
Status: in_force

(a) Twenty (20) or more farmers, all of whom shall be residents of this state, may make mutual pledges and give valid obligations to each other for their insurance against loss or damage by fire, tornado, lightning, cyclone, windstorm, hail, explosion with or without fire ensuing, smoke, or direct loss or damage to insured property caused by moving vehicles and airplanes, riot, riot attending a strike, and civil commotion. (b) These associations shall not insure any property not owned by one (1) of its members. (c) Directors of public school districts of any kind and trustees of churches may become members of such an association in their representative capacities, for the purpose of insuring schoolhouses and churches. (d) These associations may write coverage, at their election, for collapse of buildings from the weight of ice and snow. (e) An association shall file all forms, including policy forms, application forms, rider or endorsement forms, or forms of renewal certificate for the coverages contained in subsections (a) and (d) of this section with the Insurance Commissioner. These filings shall be for informational purposes only. (f) The associations may also write burglary and theft, glass, leakage, and fire extinguisher equipment, livestock, miscellaneous coverage, and liability, provided those coverages are written as a supplement, or package commonly referred to as a homeowner or farmowner policy, to a fire insurance policy, if the commissioner approves the reinsurance agreement as to the liability portions or obligations under these policies. (g) (1) Before an association may write coverages: (A) The policy form shall have prior approval of the commissioner, in accordance with § 23-79-109 ; and (B) An association that writes any of the coverages listed in subsection (f) of this section shall maintain a minimum of fifty thousand dollars ($50,000) to be deposited with the commissioner in the form of securities eligible for deposit under § 23-63-903 . (2) (A) Each association shall maintain an unimpaired minimum surplus of five hundred thousand dollars ($500,000). (B) (i) If compliance with this section would cause the association to become impaired or insolvent, the commissioner may allow the association to augment incrementally its unimpaired minimum surplus in order for the association to achieve compliance no later than December 31, 2010. (ii) For good cause shown in writing by an association, the commissioner may grant not more than two (2) extensions for not more than two (2) years per extension of the deadline set for compliance in subdivision (g)(2)(B)(i) of this section. (3) However, if the association reinsures its obligations under the coverages listed in this section to the extent of one hundred percent (100%), the commissioner, in his or her discretion, may waive the deposit requirement under this section. (4) The deposit is subject to: (A) The payment of creditors and the prompt payment of all claims arising and accruing to any person in this state; and (B) The conditions specified in § 23-63-909 . (h) Premiums received on policies sold containing the coverages listed in subsection (f) of this section shall be subject to the provisions of § 26-57-601 et seq. relating to premium taxes. Acts 1959, No. 148, § 582; 1981, No. 809, § 17; 1985, No. 487, § 1; A.S.A. 1947, § 66-4604; Acts 1991, No. 1123, § 8; 1997, No. 774, § 1; 2005, No. 2004, § 1; 2007, No. 76, § 1; 2009, No. 726, § 35; 2011, No. 523, § 1.

(a) Twenty (20) or more farmers, all of whom shall be residents of this state, may make mutual pledges and give valid obligations to each other for their insurance against loss or damage by fire, tornado, lightning, cyclone, windstorm, hail, explosion with or without fire ensuing, smoke, or direct loss or damage to insured property caused by moving vehicles and airplanes, riot, riot attending a strike, and civil commotion.

(b) These associations shall not insure any property not owned by one (1) of its members.

(c) Directors of public school districts of any kind and trustees of churches may become members of such an association in their representative capacities, for the purpose of insuring schoolhouses and churches.

(d) These associations may write coverage, at their election, for collapse of buildings from the weight of ice and snow.

(e) An association shall file all forms, including policy forms, application forms, rider or endorsement forms, or forms of renewal certificate for the coverages contained in subsections (a) and (d) of this section with the Insurance Commissioner. These filings shall be for informational purposes only.

(f) The associations may also write burglary and theft, glass, leakage, and fire extinguisher equipment, livestock, miscellaneous coverage, and liability, provided those coverages are written as a supplement, or package commonly referred to as a homeowner or farmowner policy, to a fire insurance policy, if the commissioner approves the reinsurance agreement as to the liability portions or obligations under these policies.

(g) (1) Before an association may write coverages: (A) The policy form shall have prior approval of the commissioner, in accordance with § 23-79-109 ; and (B) An association that writes any of the coverages listed in subsection (f) of this section shall maintain a minimum of fifty thousand dollars ($50,000) to be deposited with the commissioner in the form of securities eligible for deposit under § 23-63-903 . (2) (A) Each association shall maintain an unimpaired minimum surplus of five hundred thousand dollars ($500,000). (B) (i) If compliance with this section would cause the association to become impaired or insolvent, the commissioner may allow the association to augment incrementally its unimpaired minimum surplus in order for the association to achieve compliance no later than December 31, 2010. (ii) For good cause shown in writing by an association, the commissioner may grant not more than two (2) extensions for not more than two (2) years per extension of the deadline set for compliance in subdivision (g)(2)(B)(i) of this section. (3) However, if the association reinsures its obligations under the coverages listed in this section to the extent of one hundred percent (100%), the commissioner, in his or her discretion, may waive the deposit requirement under this section. (4) The deposit is subject to: (A) The payment of creditors and the prompt payment of all claims arising and accruing to any person in this state; and (B) The conditions specified in § 23-63-909 .

(1) Before an association may write coverages: (A) The policy form shall have prior approval of the commissioner, in accordance with § 23-79-109 ; and (B) An association that writes any of the coverages listed in subsection (f) of this section shall maintain a minimum of fifty thousand dollars ($50,000) to be deposited with the commissioner in the form of securities eligible for deposit under § 23-63-903 .

(A) The policy form shall have prior approval of the commissioner, in accordance with § 23-79-109 ; and

(B) An association that writes any of the coverages listed in subsection (f) of this section shall maintain a minimum of fifty thousand dollars ($50,000) to be deposited with the commissioner in the form of securities eligible for deposit under § 23-63-903 .

(2) (A) Each association shall maintain an unimpaired minimum surplus of five hundred thousand dollars ($500,000). (B) (i) If compliance with this section would cause the association to become impaired or insolvent, the commissioner may allow the association to augment incrementally its unimpaired minimum surplus in order for the association to achieve compliance no later than December 31, 2010. (ii) For good cause shown in writing by an association, the commissioner may grant not more than two (2) extensions for not more than two (2) years per extension of the deadline set for compliance in subdivision (g)(2)(B)(i) of this section.

(A) Each association shall maintain an unimpaired minimum surplus of five hundred thousand dollars ($500,000).

(B) (i) If compliance with this section would cause the association to become impaired or insolvent, the commissioner may allow the association to augment incrementally its unimpaired minimum surplus in order for the association to achieve compliance no later than December 31, 2010. (ii) For good cause shown in writing by an association, the commissioner may grant not more than two (2) extensions for not more than two (2) years per extension of the deadline set for compliance in subdivision (g)(2)(B)(i) of this section.

(i) If compliance with this section would cause the association to become impaired or insolvent, the commissioner may allow the association to augment incrementally its unimpaired minimum surplus in order for the association to achieve compliance no later than December 31, 2010.

(ii) For good cause shown in writing by an association, the commissioner may grant not more than two (2) extensions for not more than two (2) years per extension of the deadline set for compliance in subdivision (g)(2)(B)(i) of this section.

(3) However, if the association reinsures its obligations under the coverages listed in this section to the extent of one hundred percent (100%), the commissioner, in his or her discretion, may waive the deposit requirement under this section.

(4) The deposit is subject to: (A) The payment of creditors and the prompt payment of all claims arising and accruing to any person in this state; and (B) The conditions specified in § 23-63-909 .

(A) The payment of creditors and the prompt payment of all claims arising and accruing to any person in this state; and

(B) The conditions specified in § 23-63-909 .

(h) Premiums received on policies sold containing the coverages listed in subsection (f) of this section shall be subject to the provisions of § 26-57-601 et seq. relating to premium taxes.

Acts 1959, No. 148, § 582; 1981, No. 809, § 17; 1985, No. 487, § 1; A.S.A. 1947, § 66-4604; Acts 1991, No. 1123, § 8; 1997, No. 774, § 1; 2005, No. 2004, § 1; 2007, No. 76, § 1; 2009, No. 726, § 35; 2011, No. 523, § 1.
Ark. Code Ann. § 23-13-257 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-257
Violations by carriers, shippers, brokers, etc., or employees, agents, etc. - Penalties
Status: in_force

Any person, whether a carrier, shipper, consignee, or broker, or any officer, employee, agent, or representative thereof who shall knowingly offer, grant, or give or solicit, accept, or receive any rebate, concession, or discrimination in violation of any provision of this subchapter; who by means of any false statement or representation, or by the use of any false or fictitious bill, bill of lading, receipt, voucher, roll, account, claim, certificate, affidavit, deposition, lease, or bill of sale, or by any other means or device shall knowingly assist, suffer, or permit any persons, natural or artificial, to obtain transportation of passengers or property subject to this subchapter for less than the applicable fare, rate, or charge; who shall knowingly by any such means or otherwise fraudulently seek to evade or defeat rules as in this subchapter is provided for motor carriers or brokers; or who shall violate any of the rules, including safety rules, prescribed or hereafter prescribed by the State Highway Commission pursuant to the provisions of Title 23 of this Code, shall be guilty of a violation. Upon conviction, that person, unless otherwise provided in this chapter, shall be fined not more than five hundred dollars ($500) for the first offense and not less than five hundred dollars ($500) nor more than one thousand dollars ($1,000) for any subsequent offense. Amended by Act 2019, No. 315,§ 2446, eff. 7/24/2019. Acts 1955, No. 397, § 22; A.S.A. 1947, § 73-1775; Acts 1993, No. 1023, § 1; 2005, No. 1994, § 455.

Any person, whether a carrier, shipper, consignee, or broker, or any officer, employee, agent, or representative thereof who shall knowingly offer, grant, or give or solicit, accept, or receive any rebate, concession, or discrimination in violation of any provision of this subchapter; who by means of any false statement or representation, or by the use of any false or fictitious bill, bill of lading, receipt, voucher, roll, account, claim, certificate, affidavit, deposition, lease, or bill of sale, or by any other means or device shall knowingly assist, suffer, or permit any persons, natural or artificial, to obtain transportation of passengers or property subject to this subchapter for less than the applicable fare, rate, or charge; who shall knowingly by any such means or otherwise fraudulently seek to evade or defeat rules as in this subchapter is provided for motor carriers or brokers; or who shall violate any of the rules, including safety rules, prescribed or hereafter prescribed by the State Highway Commission pursuant to the provisions of Title 23 of this Code, shall be guilty of a violation. Upon conviction, that person, unless otherwise provided in this chapter, shall be fined not more than five hundred dollars ($500) for the first offense and not less than five hundred dollars ($500) nor more than one thousand dollars ($1,000) for any subsequent offense.

Amended by Act 2019, No. 315,§ 2446, eff. 7/24/2019.

Acts 1955, No. 397, § 22; A.S.A. 1947, § 73-1775; Acts 1993, No. 1023, § 1; 2005, No. 1994, § 455.
Ark. Code Ann. § 23-63-211 — AR Code / Title 23 / Chapter 63 / Subchapter 2 / Section 23-63-211
Certificate of authority - Continuance, expiration, amendment, or surrender
Status: in_force

(a) Certificates of authority issued or renewed under the Arkansas Insurance Code shall continue in force as long as the insurer is entitled thereto under the Arkansas Insurance Code and until suspended, revoked, or otherwise terminated. However, they are subject to continuance of the certificate by the insurer each year by: (1) Payment prior to April 15 of the continuation fee provided in § 23-61-401 ; (2) Due filing by the insurer of its annual statement for the calendar year preceding as required under § 23-63-216 ; and (3) Payment by the insurer of applicable taxes, fees, and assessments, as well as timely filing of supporting annual and quarterly statements and other required filings with respect to the preceding calendar year, as required under the Arkansas Insurance Code. (b) (1) If not so continued by the insurer, its certificate of authority shall expire as of midnight on the April 30 next following the failure of the insurer so to continue it in force. (2) If for any reason the insurer is not entitled to continuation of its certificate of authority, the Insurance Commissioner may refuse to continue the certificate, and the certificate of authority shall expire as stated in this subsection. (3) The commissioner shall promptly notify the insurer of the occurrence of any failure or condition resulting in impending expiration of its certificate of authority. (c) The commissioner may, in his or her discretion, reinstate a certificate of authority which the insurer has inadvertently permitted to expire, after the insurer has fully cured all its failures which resulted in the expiration, and upon payment by the insurer of the fee for reinstatement in the amount provided in § 23-61-401 . Otherwise, the insurer shall be granted another certificate of authority only after filing application therefor and meeting all other requirements as for an original certificate of authority in this state. (d) The commissioner may amend a certificate of authority at any time to accord with changes in the insurer's charter or insuring powers. (e) Any insurer desiring to surrender its certificate of authority, withdraw from this state, or discontinue the writing of certain classes of insurance in this state shall give ninety (90) days' notice in writing to the State Insurance Department and shall state in writing its reasons for such action. The commissioner may waive any part of the notice requirement. Acts 1959, No. 148, § 55; 1985, No. 804, § 7; A.S.A. 1947, § 66-2213; Acts 2001, No. 1604, § 23.

(a) Certificates of authority issued or renewed under the Arkansas Insurance Code shall continue in force as long as the insurer is entitled thereto under the Arkansas Insurance Code and until suspended, revoked, or otherwise terminated. However, they are subject to continuance of the certificate by the insurer each year by: (1) Payment prior to April 15 of the continuation fee provided in § 23-61-401 ; (2) Due filing by the insurer of its annual statement for the calendar year preceding as required under § 23-63-216 ; and (3) Payment by the insurer of applicable taxes, fees, and assessments, as well as timely filing of supporting annual and quarterly statements and other required filings with respect to the preceding calendar year, as required under the Arkansas Insurance Code.

(1) Payment prior to April 15 of the continuation fee provided in § 23-61-401 ;

(2) Due filing by the insurer of its annual statement for the calendar year preceding as required under § 23-63-216 ; and

(3) Payment by the insurer of applicable taxes, fees, and assessments, as well as timely filing of supporting annual and quarterly statements and other required filings with respect to the preceding calendar year, as required under the Arkansas Insurance Code.

(b) (1) If not so continued by the insurer, its certificate of authority shall expire as of midnight on the April 30 next following the failure of the insurer so to continue it in force. (2) If for any reason the insurer is not entitled to continuation of its certificate of authority, the Insurance Commissioner may refuse to continue the certificate, and the certificate of authority shall expire as stated in this subsection. (3) The commissioner shall promptly notify the insurer of the occurrence of any failure or condition resulting in impending expiration of its certificate of authority.

(1) If not so continued by the insurer, its certificate of authority shall expire as of midnight on the April 30 next following the failure of the insurer so to continue it in force.

(2) If for any reason the insurer is not entitled to continuation of its certificate of authority, the Insurance Commissioner may refuse to continue the certificate, and the certificate of authority shall expire as stated in this subsection.

(3) The commissioner shall promptly notify the insurer of the occurrence of any failure or condition resulting in impending expiration of its certificate of authority.

(c) The commissioner may, in his or her discretion, reinstate a certificate of authority which the insurer has inadvertently permitted to expire, after the insurer has fully cured all its failures which resulted in the expiration, and upon payment by the insurer of the fee for reinstatement in the amount provided in § 23-61-401 . Otherwise, the insurer shall be granted another certificate of authority only after filing application therefor and meeting all other requirements as for an original certificate of authority in this state.

(d) The commissioner may amend a certificate of authority at any time to accord with changes in the insurer's charter or insuring powers.

(e) Any insurer desiring to surrender its certificate of authority, withdraw from this state, or discontinue the writing of certain classes of insurance in this state shall give ninety (90) days' notice in writing to the State Insurance Department and shall state in writing its reasons for such action. The commissioner may waive any part of the notice requirement.

Acts 1959, No. 148, § 55; 1985, No. 804, § 7; A.S.A. 1947, § 66-2213; Acts 2001, No. 1604, § 23.
Ark. Code Ann. § 23-68-102 — AR Code / Title 23 / Chapter 68 / Section 23-68-102
Definitions
Status: in_force

For the purpose of this chapter: (1) "Impairment" or "insolvency". The capital of a stock insurer or the surplus of a mutual or reciprocal insurer shall be deemed to be impaired and the insurer shall be deemed to be insolvent when such insurer is not possessed of assets at least equal to all liabilities and required reserves together with its total issued and outstanding capital stock if a stock insurer, or the minimum surplus if a mutual or reciprocal insurer, required by the Arkansas Insurance Code to be maintained for the kind or kinds of insurance it is then authorized to transact. (2) "Insurer" means any person, firm, corporation, association, or aggregation of persons doing an insurance business and subject to the insurance supervisory authority of, or to liquidation, rehabilitation, reorganization or conservation by the commissioner or the equivalent insurance supervisory official of another state. (3) "Delinquency proceeding" means any proceeding commenced against an insurer pursuant to this chapter for the purpose of liquidating, rehabilitating, reorganizing, or conserving such insurer. (4) "State" means any state of the United States and also the District of Columbia and the Commonwealth of Puerto Rico. (5) "Foreign country" means territory not in any state. (6) "Domiciliary state" means the state in which an insurer is incorporated or organized, or in the case of an insurer incorporated or organized in a foreign country, the state in which such insurer, having become authorized to do business in such state, has, at the commencement of delinquency proceedings, the largest amount of its assets held in trust and assets held on deposit for the benefit of its policyholders or policyholders and creditors in the United States, and any such insurer is deemed to be domiciled in such state. (7) "Ancillary state" means any state other than a domiciliary state. (8) "Reciprocal state" means any state other than this state in which in substance and effect the provisions of the Uniform Insurers Liquidation Act, as defined in § 23-68-101 , are in force, including the provisions requiring that the commissioner of insurance or equivalent insurance supervisory official be the receiver of a delinquent insurer. (9) "General assets" means all property, real, personal, or otherwise, not specifically mortgaged, pledged, deposited, or otherwise encumbered for the security or benefit of specified persons or a limited class or classes of persons, and, as to such specifically encumbered property, the term includes all such property or its proceeds in excess of the amount necessary to discharge the sum or sums secured thereby. Assets held in trust and assets held on deposit for the security or benefit of all policyholders or all policyholders and creditors in the United States shall be deemed general assets. (10) "Preferred claim" means any claim with respect to which the law of the state or of the United States accords priority of payments from the general assets of the insurer. (11) "Special deposit claim" means any claim secured by a deposit made pursuant to statute for the security or benefit of a limited class or classes of persons, but not including any general assets. (12) "Secured claim" means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow, or otherwise, but not including special deposit claim or claims against general assets. The term also includes claims which more than four (4) months prior to the commencement of delinquency proceedings in the state of the insurer's domicile have become liens upon specific assets by reason of judicial process. (13) "Receiver" means receiver, liquidator, rehabilitator, or conservator as the context may require. (14) "Hazardous financially" means the existence of any condition or the omission or commission of any act which would, in the reasonable discretion of the commissioner, seriously affect the advisability of an insurer's continued operation in this state or, as a result of its financial condition or other matters, would render the insurer's continued operation in this state perilous to the general public or to the policyholders or creditors of the insurer. The commissioner is authorized to promulgate rules to set forth standards by which he or she might make a determination that the continued operation of an insurer might be hazardous financially. Amended by Act 2019, No. 315,§ 2682, eff. 7/24/2019. Acts 1959, No. 148, § 638; A.S.A. 1947, § 66-4801; Acts 1993, No. 901, § 33.

For the purpose of this chapter:

(1) "Impairment" or "insolvency". The capital of a stock insurer or the surplus of a mutual or reciprocal insurer shall be deemed to be impaired and the insurer shall be deemed to be insolvent when such insurer is not possessed of assets at least equal to all liabilities and required reserves together with its total issued and outstanding capital stock if a stock insurer, or the minimum surplus if a mutual or reciprocal insurer, required by the Arkansas Insurance Code to be maintained for the kind or kinds of insurance it is then authorized to transact.

(2) "Insurer" means any person, firm, corporation, association, or aggregation of persons doing an insurance business and subject to the insurance supervisory authority of, or to liquidation, rehabilitation, reorganization or conservation by the commissioner or the equivalent insurance supervisory official of another state.

(3) "Delinquency proceeding" means any proceeding commenced against an insurer pursuant to this chapter for the purpose of liquidating, rehabilitating, reorganizing, or conserving such insurer.

(4) "State" means any state of the United States and also the District of Columbia and the Commonwealth of Puerto Rico.

(5) "Foreign country" means territory not in any state.

(6) "Domiciliary state" means the state in which an insurer is incorporated or organized, or in the case of an insurer incorporated or organized in a foreign country, the state in which such insurer, having become authorized to do business in such state, has, at the commencement of delinquency proceedings, the largest amount of its assets held in trust and assets held on deposit for the benefit of its policyholders or policyholders and creditors in the United States, and any such insurer is deemed to be domiciled in such state.

(7) "Ancillary state" means any state other than a domiciliary state.

(8) "Reciprocal state" means any state other than this state in which in substance and effect the provisions of the Uniform Insurers Liquidation Act, as defined in § 23-68-101 , are in force, including the provisions requiring that the commissioner of insurance or equivalent insurance supervisory official be the receiver of a delinquent insurer.

(9) "General assets" means all property, real, personal, or otherwise, not specifically mortgaged, pledged, deposited, or otherwise encumbered for the security or benefit of specified persons or a limited class or classes of persons, and, as to such specifically encumbered property, the term includes all such property or its proceeds in excess of the amount necessary to discharge the sum or sums secured thereby. Assets held in trust and assets held on deposit for the security or benefit of all policyholders or all policyholders and creditors in the United States shall be deemed general assets.

(10) "Preferred claim" means any claim with respect to which the law of the state or of the United States accords priority of payments from the general assets of the insurer.

(11) "Special deposit claim" means any claim secured by a deposit made pursuant to statute for the security or benefit of a limited class or classes of persons, but not including any general assets.

(12) "Secured claim" means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow, or otherwise, but not including special deposit claim or claims against general assets. The term also includes claims which more than four (4) months prior to the commencement of delinquency proceedings in the state of the insurer's domicile have become liens upon specific assets by reason of judicial process.

(13) "Receiver" means receiver, liquidator, rehabilitator, or conservator as the context may require.

(14) "Hazardous financially" means the existence of any condition or the omission or commission of any act which would, in the reasonable discretion of the commissioner, seriously affect the advisability of an insurer's continued operation in this state or, as a result of its financial condition or other matters, would render the insurer's continued operation in this state perilous to the general public or to the policyholders or creditors of the insurer. The commissioner is authorized to promulgate rules to set forth standards by which he or she might make a determination that the continued operation of an insurer might be hazardous financially.

Amended by Act 2019, No. 315,§ 2682, eff. 7/24/2019.

Acts 1959, No. 148, § 638; A.S.A. 1947, § 66-4801; Acts 1993, No. 901, § 33.
Ark. Code Ann. § 23-112-806 — AR Code / Title 23 / Chapter 112 / Subchapter 8 / Section 23-112-806
Established and ongoing special events
Status: in_force

(a) A special event that has been ongoing for five (5) years or more before July 31, 2007, and has had a significant positive economic impact in the past shall be: (1) Considered an established and ongoing special event; and (2) Eligible to a presumption of a significant positive economic impact by the Arkansas Motor Vehicle Commission. (b) Notwithstanding any provision of law to the contrary, new motor vehicle dealers and new motor vehicle manufacturers or distributors that have participated in an established and ongoing special event under this section for the previous three (3) years may continue to be invited to the special event. Amended by Act 2023, No. 696,§ 1, eff. 8/1/2023. Acts 2007, No. 235, § 1.

(a) A special event that has been ongoing for five (5) years or more before July 31, 2007, and has had a significant positive economic impact in the past shall be: (1) Considered an established and ongoing special event; and (2) Eligible to a presumption of a significant positive economic impact by the Arkansas Motor Vehicle Commission.

(1) Considered an established and ongoing special event; and

(2) Eligible to a presumption of a significant positive economic impact by the Arkansas Motor Vehicle Commission.

(b) Notwithstanding any provision of law to the contrary, new motor vehicle dealers and new motor vehicle manufacturers or distributors that have participated in an established and ongoing special event under this section for the previous three (3) years may continue to be invited to the special event.

Amended by Act 2023, No. 696,§ 1, eff. 8/1/2023.

Acts 2007, No. 235, § 1.
Ark. Code Ann. § 23-79-201 — AR Code / Title 23 / Chapter 79 / Subchapter 2 / Section 23-79-201
Claims arising outside United States - Automobile liability insurer
Status: in_force

A person having a claim for personal injury or property damage arising out of the use of a motor vehicle in a foreign country by another who, at the time of the injury or damage, was covered by a policy of automobile liability insurance with an insurer subject to the jurisdiction of the courts of this state, may sue the insurer directly on the claim in any court of competent jurisdiction in the county of which the person was a resident at the time the injury or damage occurred. Acts 1965, No. 130, § 1; A.S.A. 1947, § 66-3244.

A person having a claim for personal injury or property damage arising out of the use of a motor vehicle in a foreign country by another who, at the time of the injury or damage, was covered by a policy of automobile liability insurance with an insurer subject to the jurisdiction of the courts of this state, may sue the insurer directly on the claim in any court of competent jurisdiction in the county of which the person was a resident at the time the injury or damage occurred.

Acts 1965, No. 130, § 1; A.S.A. 1947, § 66-3244.
Ark. Code Ann. § 23-115-407 — AR Code / Title 23 / Chapter 115 / Subchapter 4 / Section 23-115-407
Video lotteries prohibited
Status: in_force

A video lottery shall not be used as part of a lottery under this chapter. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

A video lottery shall not be used as part of a lottery under this chapter.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-42-501 — AR Code / Title 23 / Chapter 42 / Subchapter 5 / Section 23-42-501
Sale of unregistered nonexempt securities
Status: in_force

It is unlawful for any person to offer or sell any security in this state unless: (1) It is registered under this chapter; (2) The security or transaction is exempted under § 23-42-503 or § 23-42-504 ; or (3) It is a covered security. Acts 1959, No. 254, § 7; A.S.A. 1947, § 67-1241; Acts 1997, No. 173, § 18.

It is unlawful for any person to offer or sell any security in this state unless:

(1) It is registered under this chapter;

(2) The security or transaction is exempted under § 23-42-503 or § 23-42-504 ; or

(3) It is a covered security.

Acts 1959, No. 254, § 7; A.S.A. 1947, § 67-1241; Acts 1997, No. 173, § 18.
Ark. Code Ann. § 23-73-117 — AR Code / Title 23 / Chapter 73 / Section 23-73-117
Conversion to mutual insurer
Status: in_force

(a) A farmers' mutual aid association as provided for by this chapter may be converted to a mutual insurer as defined in § 23-69-102 under any plan or procedure which may be approved by the order of the Insurance Commissioner after a hearing thereon. (b) The commissioner shall approve a plan or procedure if he or she finds that: (1) The plan would not be contrary to law and would not be contrary to the interest of insureds or the public; and (2) The plan has been approved by a vote of not less than two-thirds (2/3) of the members present or represented by proxy at the meeting, or such greater majority as may be otherwise provided in the association's bylaws. Voting shall be conducted by written ballot which shall be signed by the member, on a ballot form approved by the commissioner prior to voting. (c) Upon conversion, the association shall possess and thereafter maintain unimpaired surplus as regards policyholders of not less than seven hundred fifty thousand dollars ($750,000). (d) Upon conversion to a mutual insurer as provided for herein, the association shall be subject to and comply with all laws and rules applicable to mutual insurers. (e) Any association so converted shall be authorized to write only those lines for which it was authorized to write as a farmers' mutual aid association. However, the converted company may seek to have its certificate of authority amended to write additional lines. (f) The association shall have a period of time which shall be specified in the commissioner's order to complete the conversion. (g) Any association converted to a mutual insurer under the provisions of this section shall be designated as a "mutual insurer", and that designation shall appear immediately following its name on all policies, financial statements, and other documents where its name appears. Amended by Act 2019, No. 315,§ 2695, eff. 7/24/2019. Acts 1985, No. 489, § 1; A.S.A. 1947, § 66-4617; Acts 1997, No. 774, § 1.

(a) A farmers' mutual aid association as provided for by this chapter may be converted to a mutual insurer as defined in § 23-69-102 under any plan or procedure which may be approved by the order of the Insurance Commissioner after a hearing thereon.

(b) The commissioner shall approve a plan or procedure if he or she finds that: (1) The plan would not be contrary to law and would not be contrary to the interest of insureds or the public; and (2) The plan has been approved by a vote of not less than two-thirds (2/3) of the members present or represented by proxy at the meeting, or such greater majority as may be otherwise provided in the association's bylaws. Voting shall be conducted by written ballot which shall be signed by the member, on a ballot form approved by the commissioner prior to voting.

(1) The plan would not be contrary to law and would not be contrary to the interest of insureds or the public; and

(2) The plan has been approved by a vote of not less than two-thirds (2/3) of the members present or represented by proxy at the meeting, or such greater majority as may be otherwise provided in the association's bylaws. Voting shall be conducted by written ballot which shall be signed by the member, on a ballot form approved by the commissioner prior to voting.

(c) Upon conversion, the association shall possess and thereafter maintain unimpaired surplus as regards policyholders of not less than seven hundred fifty thousand dollars ($750,000).

(d) Upon conversion to a mutual insurer as provided for herein, the association shall be subject to and comply with all laws and rules applicable to mutual insurers.

(e) Any association so converted shall be authorized to write only those lines for which it was authorized to write as a farmers' mutual aid association. However, the converted company may seek to have its certificate of authority amended to write additional lines.

(f) The association shall have a period of time which shall be specified in the commissioner's order to complete the conversion.

(g) Any association converted to a mutual insurer under the provisions of this section shall be designated as a "mutual insurer", and that designation shall appear immediately following its name on all policies, financial statements, and other documents where its name appears.

Amended by Act 2019, No. 315,§ 2695, eff. 7/24/2019.

Acts 1985, No. 489, § 1; A.S.A. 1947, § 66-4617; Acts 1997, No. 774, § 1.
Ark. Code Ann. § 23-37-406 — AR Code / Title 23 / Chapter 37 / Subchapter 4 / Section 23-37-406
Payment of commission on sale of stock
Status: in_force

An association shall pay no fee, commission, or other remuneration to any person for the sale of its permanent capital stock without prior approval of the Savings and Loan Association Board [abolished]. Acts 1963, No. 227, § 32; 1981, No. 444, § 2; A.S.A. 1947, § 67-1832.

An association shall pay no fee, commission, or other remuneration to any person for the sale of its permanent capital stock without prior approval of the Savings and Loan Association Board [abolished].

Acts 1963, No. 227, § 32; 1981, No. 444, § 2; A.S.A. 1947, § 67-1832.
Ark. Code Ann. § 23-3-404 — AR Code / Title 23 / Chapter 3 / Subchapter 4 / Section 23-3-404
Conservation a proper utility function
Status: in_force

It shall be considered a proper and essential function of public utilities regulated by the Arkansas Public Service Commission to engage in energy conservation programs, projects, and practices which conserve, as well as distribute, electrical energy and supplies of natural gas, oil, and other fuels. Acts 1977, No. 748, § 3; A.S.A. 1947, § 73-2503.

It shall be considered a proper and essential function of public utilities regulated by the Arkansas Public Service Commission to engage in energy conservation programs, projects, and practices which conserve, as well as distribute, electrical energy and supplies of natural gas, oil, and other fuels.

Acts 1977, No. 748, § 3; A.S.A. 1947, § 73-2503.
Ark. Code Ann. § 23-69-201 — AR Code / Title 23 / Chapter 69 / Subchapter 2 / Section 23-69-201
Definition
Status: in_force

As used in this subchapter, unless the context otherwise requires, "equity security" means: (1) Any stock or similar security; (2) Any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; (3) Any such warrant or right; or (4) Any other security which the Insurance Commissioner shall deem to be of similar nature and consider necessary or appropriate, by such rules as he or she may prescribe in the public interest or for the protection of investors, to treat as an equity security. Amended by Act 2019, No. 315,§ 2686, eff. 7/24/2019. Acts 1965, No. 107, § 6; A.S.A. 1947, § 66-4263.

As used in this subchapter, unless the context otherwise requires, "equity security" means:

(1) Any stock or similar security;

(2) Any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security;

(3) Any such warrant or right; or

(4) Any other security which the Insurance Commissioner shall deem to be of similar nature and consider necessary or appropriate, by such rules as he or she may prescribe in the public interest or for the protection of investors, to treat as an equity security.

Amended by Act 2019, No. 315,§ 2686, eff. 7/24/2019.

Acts 1965, No. 107, § 6; A.S.A. 1947, § 66-4263.
Ark. Code Ann. § 23-69-130 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-130
Dividends to mutual policyholders
Status: in_force

(a) The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represents net realized savings and net realized earnings in excess of the surplus required by law to be maintained. (b) A dividend otherwise proper may be payable out of the savings and earnings even though the insurer's total surplus is then less than the aggregate of its contributed surplus. Acts 1959, No. 148, § 483; A.S.A. 1947, § 66-4231.

(a) The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represents net realized savings and net realized earnings in excess of the surplus required by law to be maintained.

(b) A dividend otherwise proper may be payable out of the savings and earnings even though the insurer's total surplus is then less than the aggregate of its contributed surplus.

Acts 1959, No. 148, § 483; A.S.A. 1947, § 66-4231.
Ark. Code Ann. § 23-37-212 — AR Code / Title 23 / Chapter 37 / Subchapter 2 / Section 23-37-212
Cease and desist orders, injunctions, etc
Status: in_force

(a) (1) If after notice from the Supervisor of Savings and Loan Associations, an association continues to violate a section of this chapter or the rules or is engaging in an unsafe and unsound practice, then the supervisor may issue a cease and desist order to discontinue the practice. (2) If ninety (90) days after the cease and desist order has been entered the association continues to violate this chapter or the rules, then the supervisor may impose a civil fine of up to one hundred dollars ($100) per day until the violation or unsafe and unsound practice ceases. (3) All fines collected by the supervisor will be transferred to the general revenues of the State of Arkansas. (b) (1) Whenever it appears to the supervisor, upon sufficient grounds or evidence satisfactory to him or her, that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order hereunder, he or she may summarily order the person to cease and desist from that act or practice. The order shall be effective for not more than twenty (20) days, during which time the supervisor may apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this chapter or any rule or order hereunder. (2) However, the supervisor may, without issuing a cease and desist order, apply directly to the Pulaski County Circuit Court for the aforesaid relief. (3) Upon a proper showing, a permanent or temporary injunction, restraining order, or writ of mandamus shall be granted and a receiver or conservator may be appointed for the defendant or the defendant's assets. (4) The court may not require the supervisor to post bond. Acts 1963, No. 227, § 49; 1963, No. 227, § 70, as added by Acts 1979, No. 361, § 13; 1979, No. 361, § 9; A.S.A. 1947, §§ 67-1849, 67-1869.

(a) (1) If after notice from the Supervisor of Savings and Loan Associations, an association continues to violate a section of this chapter or the rules or is engaging in an unsafe and unsound practice, then the supervisor may issue a cease and desist order to discontinue the practice. (2) If ninety (90) days after the cease and desist order has been entered the association continues to violate this chapter or the rules, then the supervisor may impose a civil fine of up to one hundred dollars ($100) per day until the violation or unsafe and unsound practice ceases. (3) All fines collected by the supervisor will be transferred to the general revenues of the State of Arkansas.

(1) If after notice from the Supervisor of Savings and Loan Associations, an association continues to violate a section of this chapter or the rules or is engaging in an unsafe and unsound practice, then the supervisor may issue a cease and desist order to discontinue the practice.

(2) If ninety (90) days after the cease and desist order has been entered the association continues to violate this chapter or the rules, then the supervisor may impose a civil fine of up to one hundred dollars ($100) per day until the violation or unsafe and unsound practice ceases.

(3) All fines collected by the supervisor will be transferred to the general revenues of the State of Arkansas.

(b) (1) Whenever it appears to the supervisor, upon sufficient grounds or evidence satisfactory to him or her, that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order hereunder, he or she may summarily order the person to cease and desist from that act or practice. The order shall be effective for not more than twenty (20) days, during which time the supervisor may apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this chapter or any rule or order hereunder. (2) However, the supervisor may, without issuing a cease and desist order, apply directly to the Pulaski County Circuit Court for the aforesaid relief. (3) Upon a proper showing, a permanent or temporary injunction, restraining order, or writ of mandamus shall be granted and a receiver or conservator may be appointed for the defendant or the defendant's assets. (4) The court may not require the supervisor to post bond.

(1) Whenever it appears to the supervisor, upon sufficient grounds or evidence satisfactory to him or her, that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order hereunder, he or she may summarily order the person to cease and desist from that act or practice. The order shall be effective for not more than twenty (20) days, during which time the supervisor may apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this chapter or any rule or order hereunder.

(2) However, the supervisor may, without issuing a cease and desist order, apply directly to the Pulaski County Circuit Court for the aforesaid relief.

(3) Upon a proper showing, a permanent or temporary injunction, restraining order, or writ of mandamus shall be granted and a receiver or conservator may be appointed for the defendant or the defendant's assets.

(4) The court may not require the supervisor to post bond.

Acts 1963, No. 227, § 49; 1963, No. 227, § 70, as added by Acts 1979, No. 361, § 13; 1979, No. 361, § 9; A.S.A. 1947, §§ 67-1849, 67-1869.
Ark. Code Ann. § 23-48-805 — AR Code / Title 23 / Chapter 48 / Subchapter 8 / Section 23-48-805
Point-of-sale terminals not subject to regulation by Bank Commissioner
Status: in_force

A point-of-sale terminal, as defined in this subchapter, shall not be subject to the regulation or supervision of the Bank Commissioner. Acts 1997, No. 89, § 1.

A point-of-sale terminal, as defined in this subchapter, shall not be subject to the regulation or supervision of the Bank Commissioner.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-69-501 — AR Code / Title 23 / Chapter 69 / Subchapter 5 / Section 23-69-501
Title
Status: in_force

This subchapter shall be known and may be cited as the "Arkansas Insurance Business Transfer Act". Added by Act 2021, No. 1018,§ 1, eff. 7/28/2021.

This subchapter shall be known and may be cited as the "Arkansas Insurance Business Transfer Act".

Added by Act 2021, No. 1018,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 23-99-408 — AR Code / Title 23 / Chapter 99 / Subchapter 4 / Section 23-99-408
Continuity of care
Status: in_force

(a) When healthcare insurers use participating providers, the healthcare insurers shall develop procedures to provide for the continuity of care of their covered persons. At a minimum, the procedures shall: (1) Ensure that when a new patient is enrolled in a health benefit plan and is being treated by a nonparticipating provider for a current episode of an acute condition, the patient may continue to receive treatment as an in-network benefit from that provider until the current episode of treatment ends or until the end of ninety (90) days, whichever occurs first; (2) Ensure that when a provider's participation is terminated, his or her patients under the health benefit plan may continue to receive care from that provider as an in-network benefit until a current episode of treatment for an acute condition is completed or until the end of ninety (90) days, whichever occurs first; and (3) Explain how the covered person may request to continue services under subdivisions (a)(1) and (2) of this section. (b) During the period covered by subdivisions (a)(1) and (2) of this section, the provider shall be deemed to be a participating provider for purposes of reimbursement, utilization management, and quality of care. (c) Nothing in this section shall require a healthcare insurer to provide benefits that are not otherwise covered under the terms and provisions of the health benefit plan. Acts 1997, No. 1196, § 8.

(a) When healthcare insurers use participating providers, the healthcare insurers shall develop procedures to provide for the continuity of care of their covered persons. At a minimum, the procedures shall: (1) Ensure that when a new patient is enrolled in a health benefit plan and is being treated by a nonparticipating provider for a current episode of an acute condition, the patient may continue to receive treatment as an in-network benefit from that provider until the current episode of treatment ends or until the end of ninety (90) days, whichever occurs first; (2) Ensure that when a provider's participation is terminated, his or her patients under the health benefit plan may continue to receive care from that provider as an in-network benefit until a current episode of treatment for an acute condition is completed or until the end of ninety (90) days, whichever occurs first; and (3) Explain how the covered person may request to continue services under subdivisions (a)(1) and (2) of this section.

(1) Ensure that when a new patient is enrolled in a health benefit plan and is being treated by a nonparticipating provider for a current episode of an acute condition, the patient may continue to receive treatment as an in-network benefit from that provider until the current episode of treatment ends or until the end of ninety (90) days, whichever occurs first;

(2) Ensure that when a provider's participation is terminated, his or her patients under the health benefit plan may continue to receive care from that provider as an in-network benefit until a current episode of treatment for an acute condition is completed or until the end of ninety (90) days, whichever occurs first; and

(3) Explain how the covered person may request to continue services under subdivisions (a)(1) and (2) of this section.

(b) During the period covered by subdivisions (a)(1) and (2) of this section, the provider shall be deemed to be a participating provider for purposes of reimbursement, utilization management, and quality of care.

(c) Nothing in this section shall require a healthcare insurer to provide benefits that are not otherwise covered under the terms and provisions of the health benefit plan.

Acts 1997, No. 1196, § 8.
Ark. Code Ann. § 23-64-504 — AR Code / Title 23 / Chapter 64 / Subchapter 5 / Section 23-64-504
Exceptions to licensing
Status: in_force

(a) Nothing in this subchapter shall be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. (b) A license as an insurance producer shall not be required of the following: (1) An officer, director, or employee of an insurer or of an insurance producer, provided that the officer, director, or employee does not receive any commission on policies written or sold to insure risks residing, located, or to be performed in this state and: (A) The officer, director, or employee's activities are executive, administrative, managerial, clerical, or a combination of these, and are only indirectly related to the sale, solicitation, or negotiation of insurance; (B) The officer, director, or employee's function relates to underwriting, loss control, inspection, or the processing, adjusting, investigating, or settling of a claim on a contract of insurance; or (C) The officer, director, or employee is acting in the capacity of a special agent or agency supervisor assisting insurance producers when the person's activities are limited to providing technical advice and assistance to licensed insurance producers and do not include the sale, solicitation, or negotiation of insurance; (2) A person who does not receive any commission and: (A) Secures and furnishes information for the purpose of enrolling individuals under group life insurance, group property and casualty insurance, group annuities, or group or blanket accident and health insurance; (B) Issues certificates under group life insurance, group property and casualty insurance, group annuities, group or blanket accident and health insurance, or otherwise assists in administering plans; or (C) Performs administrative services related to mass marketed property and casualty insurance; (3) An employer or association or its officers, directors, employees, or the trustees of an employee trust plan, to the extent that the employers, officers, employees, director, or trustees are engaged in the administration or operation of a program of employee benefits for the employer's or association's own employees or the employees of its subsidiaries or affiliates, which program involves the use of insurance issued by an insurer, as long as the employers, associations, officers, directors, employees, or trustees are not in any manner compensated, directly or indirectly, by the company issuing the contracts; (4) Employees of insurers or organizations employed by insurers who are engaging in the inspection, rating, or classification of risks, or in the supervision of the training of insurance producers and who are not individually engaged in the sale, solicitation, or negotiation of insurance; (5) A person whose activities in this state are limited to advertising without the intent to solicit insurance in this state through communications in printed publications or other forms of electronic mass media whose distribution is not limited to residents of the state, provided that the person does not sell, solicit, or negotiate insurance that would insure risks residing, located, or to be performed in this state; (6) A person who is not a resident of this state who sells, solicits, or negotiates a contract of insurance for commercial property and casualty risks to an insured with risks located in more than one (1) state insured under that contract, provided that that person is otherwise licensed as an insurance producer to sell, solicit, or negotiate that insurance in the state where the insured maintains its principal place of business and the contract of insurance insures risks located in that state; (7) A salaried full-time employee who counsels or advises his or her employer relative to the insurance interests of the employer or of the subsidiaries or business affiliates of the employer provided that the employee does not sell or solicit insurance or receive a commission; or (8) Employees of an insurer or of an insurance producer who respond to requests from existing policyholders on existing policies, provided that those employees are not directly compensated based on the volume of premiums that may result from these services and provided those employees do not sell, solicit, or negotiate insurance. Acts 2001, No. 580, § 1.

(a) Nothing in this subchapter shall be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates.

(b) A license as an insurance producer shall not be required of the following: (1) An officer, director, or employee of an insurer or of an insurance producer, provided that the officer, director, or employee does not receive any commission on policies written or sold to insure risks residing, located, or to be performed in this state and: (A) The officer, director, or employee's activities are executive, administrative, managerial, clerical, or a combination of these, and are only indirectly related to the sale, solicitation, or negotiation of insurance; (B) The officer, director, or employee's function relates to underwriting, loss control, inspection, or the processing, adjusting, investigating, or settling of a claim on a contract of insurance; or (C) The officer, director, or employee is acting in the capacity of a special agent or agency supervisor assisting insurance producers when the person's activities are limited to providing technical advice and assistance to licensed insurance producers and do not include the sale, solicitation, or negotiation of insurance; (2) A person who does not receive any commission and: (A) Secures and furnishes information for the purpose of enrolling individuals under group life insurance, group property and casualty insurance, group annuities, or group or blanket accident and health insurance; (B) Issues certificates under group life insurance, group property and casualty insurance, group annuities, group or blanket accident and health insurance, or otherwise assists in administering plans; or (C) Performs administrative services related to mass marketed property and casualty insurance; (3) An employer or association or its officers, directors, employees, or the trustees of an employee trust plan, to the extent that the employers, officers, employees, director, or trustees are engaged in the administration or operation of a program of employee benefits for the employer's or association's own employees or the employees of its subsidiaries or affiliates, which program involves the use of insurance issued by an insurer, as long as the employers, associations, officers, directors, employees, or trustees are not in any manner compensated, directly or indirectly, by the company issuing the contracts; (4) Employees of insurers or organizations employed by insurers who are engaging in the inspection, rating, or classification of risks, or in the supervision of the training of insurance producers and who are not individually engaged in the sale, solicitation, or negotiation of insurance; (5) A person whose activities in this state are limited to advertising without the intent to solicit insurance in this state through communications in printed publications or other forms of electronic mass media whose distribution is not limited to residents of the state, provided that the person does not sell, solicit, or negotiate insurance that would insure risks residing, located, or to be performed in this state; (6) A person who is not a resident of this state who sells, solicits, or negotiates a contract of insurance for commercial property and casualty risks to an insured with risks located in more than one (1) state insured under that contract, provided that that person is otherwise licensed as an insurance producer to sell, solicit, or negotiate that insurance in the state where the insured maintains its principal place of business and the contract of insurance insures risks located in that state; (7) A salaried full-time employee who counsels or advises his or her employer relative to the insurance interests of the employer or of the subsidiaries or business affiliates of the employer provided that the employee does not sell or solicit insurance or receive a commission; or (8) Employees of an insurer or of an insurance producer who respond to requests from existing policyholders on existing policies, provided that those employees are not directly compensated based on the volume of premiums that may result from these services and provided those employees do not sell, solicit, or negotiate insurance.

(1) An officer, director, or employee of an insurer or of an insurance producer, provided that the officer, director, or employee does not receive any commission on policies written or sold to insure risks residing, located, or to be performed in this state and: (A) The officer, director, or employee's activities are executive, administrative, managerial, clerical, or a combination of these, and are only indirectly related to the sale, solicitation, or negotiation of insurance; (B) The officer, director, or employee's function relates to underwriting, loss control, inspection, or the processing, adjusting, investigating, or settling of a claim on a contract of insurance; or (C) The officer, director, or employee is acting in the capacity of a special agent or agency supervisor assisting insurance producers when the person's activities are limited to providing technical advice and assistance to licensed insurance producers and do not include the sale, solicitation, or negotiation of insurance;

(A) The officer, director, or employee's activities are executive, administrative, managerial, clerical, or a combination of these, and are only indirectly related to the sale, solicitation, or negotiation of insurance;

(B) The officer, director, or employee's function relates to underwriting, loss control, inspection, or the processing, adjusting, investigating, or settling of a claim on a contract of insurance; or

(C) The officer, director, or employee is acting in the capacity of a special agent or agency supervisor assisting insurance producers when the person's activities are limited to providing technical advice and assistance to licensed insurance producers and do not include the sale, solicitation, or negotiation of insurance;

(2) A person who does not receive any commission and: (A) Secures and furnishes information for the purpose of enrolling individuals under group life insurance, group property and casualty insurance, group annuities, or group or blanket accident and health insurance; (B) Issues certificates under group life insurance, group property and casualty insurance, group annuities, group or blanket accident and health insurance, or otherwise assists in administering plans; or (C) Performs administrative services related to mass marketed property and casualty insurance;

(A) Secures and furnishes information for the purpose of enrolling individuals under group life insurance, group property and casualty insurance, group annuities, or group or blanket accident and health insurance;

(B) Issues certificates under group life insurance, group property and casualty insurance, group annuities, group or blanket accident and health insurance, or otherwise assists in administering plans; or

(C) Performs administrative services related to mass marketed property and casualty insurance;

(3) An employer or association or its officers, directors, employees, or the trustees of an employee trust plan, to the extent that the employers, officers, employees, director, or trustees are engaged in the administration or operation of a program of employee benefits for the employer's or association's own employees or the employees of its subsidiaries or affiliates, which program involves the use of insurance issued by an insurer, as long as the employers, associations, officers, directors, employees, or trustees are not in any manner compensated, directly or indirectly, by the company issuing the contracts;

(4) Employees of insurers or organizations employed by insurers who are engaging in the inspection, rating, or classification of risks, or in the supervision of the training of insurance producers and who are not individually engaged in the sale, solicitation, or negotiation of insurance;

(5) A person whose activities in this state are limited to advertising without the intent to solicit insurance in this state through communications in printed publications or other forms of electronic mass media whose distribution is not limited to residents of the state, provided that the person does not sell, solicit, or negotiate insurance that would insure risks residing, located, or to be performed in this state;

(6) A person who is not a resident of this state who sells, solicits, or negotiates a contract of insurance for commercial property and casualty risks to an insured with risks located in more than one (1) state insured under that contract, provided that that person is otherwise licensed as an insurance producer to sell, solicit, or negotiate that insurance in the state where the insured maintains its principal place of business and the contract of insurance insures risks located in that state;

(7) A salaried full-time employee who counsels or advises his or her employer relative to the insurance interests of the employer or of the subsidiaries or business affiliates of the employer provided that the employee does not sell or solicit insurance or receive a commission; or

(8) Employees of an insurer or of an insurance producer who respond to requests from existing policyholders on existing policies, provided that those employees are not directly compensated based on the volume of premiums that may result from these services and provided those employees do not sell, solicit, or negotiate insurance.

Acts 2001, No. 580, § 1.
Ark. Code Ann. § 23-48-911 — AR Code / Title 23 / Chapter 48 / Subchapter 9 / Section 23-48-911
Severability
Status: in_force

If any provision of this subchapter or the application of any such provision is found by any court of competent jurisdiction in the United States to be invalid as to any bank, bank holding company, foreign bank, or other person or circumstances, or to be superseded by federal law, the remaining provisions hereof shall not be affected and shall continue to apply to any bank, bank holding company, foreign bank, or other person or circumstance. Acts 1997, No. 408, § 20.

If any provision of this subchapter or the application of any such provision is found by any court of competent jurisdiction in the United States to be invalid as to any bank, bank holding company, foreign bank, or other person or circumstances, or to be superseded by federal law, the remaining provisions hereof shall not be affected and shall continue to apply to any bank, bank holding company, foreign bank, or other person or circumstance.

Acts 1997, No. 408, § 20.
Ark. Code Ann. § 23-18-808 — AR Code / Title 23 / Chapter 18 / Subchapter 8 / Section 23-18-808
Compliance with federal law
Status: in_force

(a) A broadband operator shall comply with all applicable federal laws, including those protecting licensed spectrum users from interference by broadband systems. (b) To the extent required by Federal Communications Commission rules, the operator of a radio frequency device shall discontinue using a radio frequency device that causes harmful interference. Acts 2007, No. 739, §§ 1, 5.

(a) A broadband operator shall comply with all applicable federal laws, including those protecting licensed spectrum users from interference by broadband systems.

(b) To the extent required by Federal Communications Commission rules, the operator of a radio frequency device shall discontinue using a radio frequency device that causes harmful interference.

Acts 2007, No. 739, §§ 1, 5.
Ark. Code Ann. § 23-18-911 — AR Code / Title 23 / Chapter 18 / Subchapter 9 / Section 23-18-911
State pledge - Definition
Status: in_force

(a) For purposes of this section, the term "bondholder" means a person who holds, owns, or is the beneficial holder or owner of a storm recovery bond. (b) (1) The state and its agencies, including the Arkansas Public Service Commission, pledge to and agree with bondholders, the owners of the storm recovery property, and other financing parties that the state shall not: (A) Alter the provisions of this section which make the storm recovery charges imposed by a financing order irrevocable, binding, and nonbypassable charges; (B) Take or permit any action that impairs or would impair the value of storm recovery property; or (C) Except as allowed under this section, reduce, alter, or impair storm recovery charges that are to be imposed, collected, and remitted for the benefit of the bondholders and other financing parties until any and all principal, interest, premium, financing costs and other fees, expenses, or charges incurred, and any contracts to be performed in connection with the related storm recovery bonds have been paid and performed in full. (2) This subsection does not preclude limitation or alteration if full compensation is made by law for the full protection of the storm recovery charges collected pursuant to a financing order and of the holders of storm recovery bonds and any assignee or financing party entering into a contract with the utility. (c) Any person or entity that issues storm recovery bonds may include the pledge specified in subsection (b) of this section in the bonds and related documentation. Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021. Acts 2009, No. 729, § 1.

(a) For purposes of this section, the term "bondholder" means a person who holds, owns, or is the beneficial holder or owner of a storm recovery bond.

(b) (1) The state and its agencies, including the Arkansas Public Service Commission, pledge to and agree with bondholders, the owners of the storm recovery property, and other financing parties that the state shall not: (A) Alter the provisions of this section which make the storm recovery charges imposed by a financing order irrevocable, binding, and nonbypassable charges; (B) Take or permit any action that impairs or would impair the value of storm recovery property; or (C) Except as allowed under this section, reduce, alter, or impair storm recovery charges that are to be imposed, collected, and remitted for the benefit of the bondholders and other financing parties until any and all principal, interest, premium, financing costs and other fees, expenses, or charges incurred, and any contracts to be performed in connection with the related storm recovery bonds have been paid and performed in full. (2) This subsection does not preclude limitation or alteration if full compensation is made by law for the full protection of the storm recovery charges collected pursuant to a financing order and of the holders of storm recovery bonds and any assignee or financing party entering into a contract with the utility.

(1) The state and its agencies, including the Arkansas Public Service Commission, pledge to and agree with bondholders, the owners of the storm recovery property, and other financing parties that the state shall not: (A) Alter the provisions of this section which make the storm recovery charges imposed by a financing order irrevocable, binding, and nonbypassable charges; (B) Take or permit any action that impairs or would impair the value of storm recovery property; or (C) Except as allowed under this section, reduce, alter, or impair storm recovery charges that are to be imposed, collected, and remitted for the benefit of the bondholders and other financing parties until any and all principal, interest, premium, financing costs and other fees, expenses, or charges incurred, and any contracts to be performed in connection with the related storm recovery bonds have been paid and performed in full.

(A) Alter the provisions of this section which make the storm recovery charges imposed by a financing order irrevocable, binding, and nonbypassable charges;

(B) Take or permit any action that impairs or would impair the value of storm recovery property; or

(C) Except as allowed under this section, reduce, alter, or impair storm recovery charges that are to be imposed, collected, and remitted for the benefit of the bondholders and other financing parties until any and all principal, interest, premium, financing costs and other fees, expenses, or charges incurred, and any contracts to be performed in connection with the related storm recovery bonds have been paid and performed in full.

(2) This subsection does not preclude limitation or alteration if full compensation is made by law for the full protection of the storm recovery charges collected pursuant to a financing order and of the holders of storm recovery bonds and any assignee or financing party entering into a contract with the utility.

(c) Any person or entity that issues storm recovery bonds may include the pledge specified in subsection (b) of this section in the bonds and related documentation.

Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021.

Acts 2009, No. 729, § 1.
Ark. Code Ann. § 23-37-704 — AR Code / Title 23 / Chapter 37 / Subchapter 7 / Section 23-37-704
Contemporaneous conversion from federal mutual to state stock association
Status: in_force

(a) A federal association may file with the Savings and Loan Association Board [abolished] a joint petition for authority to convert from a federal association to a state-chartered association and contemporaneously to convert from a mutual association to a stock association. (b) Pursuant to the provisions of § 23-37-703 , the board may hold a hearing on the petition and issue its certificate of preliminary approval to a contemporaneous conversion from a federal association to a state-chartered stock association. Acts 1963, No. 227, § 52; 1973, No. 292, § 5; A.S.A. 1947, § 67-1852.

(a) A federal association may file with the Savings and Loan Association Board [abolished] a joint petition for authority to convert from a federal association to a state-chartered association and contemporaneously to convert from a mutual association to a stock association.

(b) Pursuant to the provisions of § 23-37-703 , the board may hold a hearing on the petition and issue its certificate of preliminary approval to a contemporaneous conversion from a federal association to a state-chartered stock association.

Acts 1963, No. 227, § 52; 1973, No. 292, § 5; A.S.A. 1947, § 67-1852.
Ark. Code Ann. § 23-63-532 — AR Code / Title 23 / Chapter 63 / Subchapter 5 / Section 23-63-532
Group-wide supervision of internationally active insurance groups
Status: in_force

(a) (1) The Insurance Commissioner may act as a group-wide supervisor for any internationally active insurance group under this section. (2) However, the commissioner may otherwise acknowledge another regulatory official as the group-wide supervisor when the internationally active insurance group: (A) Does not have substantial insurance operations in the United States; (B) Has substantial insurance operations in the United States, but not in this state; or (C) Has substantial insurance operations in the United States and this state, but the commissioner has determined under subsections (b) and (f) of this section that the other regulatory official is the appropriate group-wide supervisor. (3) An insurance holding company system that does not otherwise qualify as an internationally active insurance group may request that the commissioner make a determination or acknowledgment of a regulatory official as to a group-wide supervisor under this section. (b) (1) In cooperation with other state, federal, and international regulatory agencies, the commissioner may identify a single group-wide supervisor for an internationally active insurance group. (2) (A) The commissioner may determine that the group-wide supervisor identified in subdivision (b)(1) of this section is the appropriate group-wide supervisor for an internationally active insurance group that conducts substantial insurance operations concentrated in this state. (B) However, the commissioner may acknowledge that a regulatory official from another jurisdiction is the appropriate group-wide supervisor for the internationally active insurance group. (C) The commissioner shall determine the appropriate group-wide supervisor under subdivision (b)(2)(B) of this section by considering the following: (i) The place of domicile of the insurers within the internationally active insurance group that hold the largest share of the group's written premiums, assets, or liabilities; (ii) The place of domicile of the top-tiered insurers in the insurance holding company system of the internationally active insurance group; (iii) The location of the executive offices or largest operational offices of the internationally active insurance group; (iv) Whether or not another regulatory official is acting or seeks to act as the group-wide supervisor under a regulatory system that the commissioner determines to be: (a) Substantially similar to the system of regulation provided under the laws of this state; or (b) Otherwise sufficient in terms of providing for group-wide supervision, enterprise risk analysis, and cooperation with other regulatory officials; and (v) Whether or not another regulatory official who is acting or seeking to act as the group-wide supervisor provides the commissioner with reasonably reciprocal recognition and cooperation. (3) A commissioner who is identified under this section as the group-wide supervisor may determine that it is in the best interest of the internationally active insurance group to acknowledge another supervisor to serve as the group-wide supervisor. (4) The acknowledgment of the group-wide supervisor shall be made after consideration of the factors listed in subdivision (b)(2)(C) of this section in cooperation with and subject to the acknowledgment of other regulatory officials involved with supervision of members of the internally active insurance group after consultation with the internationally active insurance group. (c) (1) Notwithstanding any other law, when another regulatory official is acting as the group-wide supervisor of an internationally active insurance group, the commissioner shall acknowledge that regulatory official as the group-wide supervisor. (2) However, the commissioner shall reconsider a determination or acknowledgement of a regulatory official as the group-wide supervisor if a material change in the internationally active insurance group results in: (A) The internationally active insurance group's insurers domiciled in this state holding the largest share of the group's premiums, assets, or liabilities; or (B) This state's becoming the place of domicile of the top-tiered insurer in the insurance holding company system of the internationally active insurance group. (d) (1) Under § 23-63-516 , the commissioner may collect from an insurer registered under § 23-63-514 any information necessary to determine whether or not the commissioner may act as the group-wide supervisor of an internationally active insurance group or if the commissioner may acknowledge another regulatory official to act as the group-wide supervisor. (2) Before issuing a determination that an internationally active insurance group is subject to group-wide supervision by the commissioner, the commissioner shall notify the insurer registered under § 23-63-514 and the ultimate controlling person within the internationally active insurance group. (3) The internationally active insurance group shall have at least thirty (30) days to provide the commissioner with any additional information requested by the commissioner to assist the commissioner to make a determination. (4) The commissioner shall publish on the State Insurance Department's website and any other required public records website maintained by the state the identity of the internationally active insurance groups that the commissioner has determined are subject to group-wide supervision by the commissioner. (e) If the commissioner is the group-wide supervisor for an internationally active insurance group, the commissioner may engage in any of the following group-wide supervision activities: (1) Assess the enterprise risks within the internationally active insurance group to ensure that: (A) The material financial condition and liquidity risks to the members of the internationally active insurance group that are engaged in the business of insurance are identified by management; and (B) Reasonable and effective mitigation measures are in place; (2) Request information from any member of an internationally active insurance group subject to the commissioner's supervision that the commissioner determines is necessary and appropriate to assess enterprise risk, including without limitation information concerning members of the internationally active insurance group's: (A) Governance, risk assessment, and management; (B) Capital adequacy; and (C) Material intercompany transactions; (3) Coordinate and, through the authority of the regulatory officials of the jurisdictions where members of the internationally active insurance group are domiciled, compel development and implementation of reasonable measures designed to ensure that the internationally active insurance group is able to timely recognize and mitigate enterprise risks to members of the internationally active insurance group that are engaged in the business of insurance; (4) Communicate with other state, federal, and international regulatory agencies for members of the internationally active insurance group and share relevant information subject to § 23-63-517 , through supervisory colleges under § 23-63-531 , or otherwise permitted; (5) (A) Enter into agreements with or obtain documentation from any insurer registered under § 23-63-514 , any member of the internationally active insurance group, and any other state, federal, and international regulatory agencies for members of the internationally active insurance group to provide the basis for the commissioner's role as group-wide supervisor, including provisions for resolving disputes with other regulatory officials. (B) An agreement or documentation shall not serve as evidence in any proceeding that an insurer or member of an insurance holding company system not domiciled or incorporated in this state is doing business in this state or is otherwise subject to jurisdiction in this state; and (6) Enter into other group-wide supervision activities that are consistent with the authorities and purposes in this section, as considered necessary by the commissioner. (f) If the commissioner acknowledges that another regulatory official from a jurisdiction that is not accredited by the National Association of Insurance Commissioners is the group-wide supervisor, the commissioner may cooperate, through supervisory colleges or otherwise, with group-wide supervision undertaken by the group-wide supervisor if: (1) The commissioner's cooperation is not a violation of this state's law; and (2) (A) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the commissioner's activities as a group-wide supervisor for other internationally active insurance groups. (B) If recognition and cooperation are not reasonably reciprocal, the commissioner may refuse recognition and cooperation. (g) The commissioner may enter into agreements with or obtain documentation from an insurer registered under § 23-63-514 , any affiliate of the insurer, and other state, federal, and international regulatory agencies for members of the internationally active insurance group, that provide the basis for a regulatory official's role as group-wide supervisor. (h) The commissioner may promulgate rules necessary for the administration of this section. (i) A registered insurer subject to this section is liable for and shall pay the reasonable expenses of the commissioner's participation in the administration of this section, including the engagement of attorneys, actuaries, and any other professionals, and all reasonable travel expenses. Added by Act 2015, No. 1223,§ 14, eff. 7/22/2015.

(a) (1) The Insurance Commissioner may act as a group-wide supervisor for any internationally active insurance group under this section. (2) However, the commissioner may otherwise acknowledge another regulatory official as the group-wide supervisor when the internationally active insurance group: (A) Does not have substantial insurance operations in the United States; (B) Has substantial insurance operations in the United States, but not in this state; or (C) Has substantial insurance operations in the United States and this state, but the commissioner has determined under subsections (b) and (f) of this section that the other regulatory official is the appropriate group-wide supervisor. (3) An insurance holding company system that does not otherwise qualify as an internationally active insurance group may request that the commissioner make a determination or acknowledgment of a regulatory official as to a group-wide supervisor under this section.

(1) The Insurance Commissioner may act as a group-wide supervisor for any internationally active insurance group under this section.

(2) However, the commissioner may otherwise acknowledge another regulatory official as the group-wide supervisor when the internationally active insurance group: (A) Does not have substantial insurance operations in the United States; (B) Has substantial insurance operations in the United States, but not in this state; or (C) Has substantial insurance operations in the United States and this state, but the commissioner has determined under subsections (b) and (f) of this section that the other regulatory official is the appropriate group-wide supervisor.

(A) Does not have substantial insurance operations in the United States;

(B) Has substantial insurance operations in the United States, but not in this state; or

(C) Has substantial insurance operations in the United States and this state, but the commissioner has determined under subsections (b) and (f) of this section that the other regulatory official is the appropriate group-wide supervisor.

(3) An insurance holding company system that does not otherwise qualify as an internationally active insurance group may request that the commissioner make a determination or acknowledgment of a regulatory official as to a group-wide supervisor under this section.

(b) (1) In cooperation with other state, federal, and international regulatory agencies, the commissioner may identify a single group-wide supervisor for an internationally active insurance group. (2) (A) The commissioner may determine that the group-wide supervisor identified in subdivision (b)(1) of this section is the appropriate group-wide supervisor for an internationally active insurance group that conducts substantial insurance operations concentrated in this state. (B) However, the commissioner may acknowledge that a regulatory official from another jurisdiction is the appropriate group-wide supervisor for the internationally active insurance group. (C) The commissioner shall determine the appropriate group-wide supervisor under subdivision (b)(2)(B) of this section by considering the following: (i) The place of domicile of the insurers within the internationally active insurance group that hold the largest share of the group's written premiums, assets, or liabilities; (ii) The place of domicile of the top-tiered insurers in the insurance holding company system of the internationally active insurance group; (iii) The location of the executive offices or largest operational offices of the internationally active insurance group; (iv) Whether or not another regulatory official is acting or seeks to act as the group-wide supervisor under a regulatory system that the commissioner determines to be: (a) Substantially similar to the system of regulation provided under the laws of this state; or (b) Otherwise sufficient in terms of providing for group-wide supervision, enterprise risk analysis, and cooperation with other regulatory officials; and (v) Whether or not another regulatory official who is acting or seeking to act as the group-wide supervisor provides the commissioner with reasonably reciprocal recognition and cooperation. (3) A commissioner who is identified under this section as the group-wide supervisor may determine that it is in the best interest of the internationally active insurance group to acknowledge another supervisor to serve as the group-wide supervisor. (4) The acknowledgment of the group-wide supervisor shall be made after consideration of the factors listed in subdivision (b)(2)(C) of this section in cooperation with and subject to the acknowledgment of other regulatory officials involved with supervision of members of the internally active insurance group after consultation with the internationally active insurance group.

(1) In cooperation with other state, federal, and international regulatory agencies, the commissioner may identify a single group-wide supervisor for an internationally active insurance group.

(2) (A) The commissioner may determine that the group-wide supervisor identified in subdivision (b)(1) of this section is the appropriate group-wide supervisor for an internationally active insurance group that conducts substantial insurance operations concentrated in this state. (B) However, the commissioner may acknowledge that a regulatory official from another jurisdiction is the appropriate group-wide supervisor for the internationally active insurance group. (C) The commissioner shall determine the appropriate group-wide supervisor under subdivision (b)(2)(B) of this section by considering the following: (i) The place of domicile of the insurers within the internationally active insurance group that hold the largest share of the group's written premiums, assets, or liabilities; (ii) The place of domicile of the top-tiered insurers in the insurance holding company system of the internationally active insurance group; (iii) The location of the executive offices or largest operational offices of the internationally active insurance group; (iv) Whether or not another regulatory official is acting or seeks to act as the group-wide supervisor under a regulatory system that the commissioner determines to be: (a) Substantially similar to the system of regulation provided under the laws of this state; or (b) Otherwise sufficient in terms of providing for group-wide supervision, enterprise risk analysis, and cooperation with other regulatory officials; and (v) Whether or not another regulatory official who is acting or seeking to act as the group-wide supervisor provides the commissioner with reasonably reciprocal recognition and cooperation.

(A) The commissioner may determine that the group-wide supervisor identified in subdivision (b)(1) of this section is the appropriate group-wide supervisor for an internationally active insurance group that conducts substantial insurance operations concentrated in this state.

(B) However, the commissioner may acknowledge that a regulatory official from another jurisdiction is the appropriate group-wide supervisor for the internationally active insurance group.

(C) The commissioner shall determine the appropriate group-wide supervisor under subdivision (b)(2)(B) of this section by considering the following: (i) The place of domicile of the insurers within the internationally active insurance group that hold the largest share of the group's written premiums, assets, or liabilities; (ii) The place of domicile of the top-tiered insurers in the insurance holding company system of the internationally active insurance group; (iii) The location of the executive offices or largest operational offices of the internationally active insurance group; (iv) Whether or not another regulatory official is acting or seeks to act as the group-wide supervisor under a regulatory system that the commissioner determines to be: (a) Substantially similar to the system of regulation provided under the laws of this state; or (b) Otherwise sufficient in terms of providing for group-wide supervision, enterprise risk analysis, and cooperation with other regulatory officials; and (v) Whether or not another regulatory official who is acting or seeking to act as the group-wide supervisor provides the commissioner with reasonably reciprocal recognition and cooperation.

(i) The place of domicile of the insurers within the internationally active insurance group that hold the largest share of the group's written premiums, assets, or liabilities;

(ii) The place of domicile of the top-tiered insurers in the insurance holding company system of the internationally active insurance group;

(iii) The location of the executive offices or largest operational offices of the internationally active insurance group;

(iv) Whether or not another regulatory official is acting or seeks to act as the group-wide supervisor under a regulatory system that the commissioner determines to be: (a) Substantially similar to the system of regulation provided under the laws of this state; or (b) Otherwise sufficient in terms of providing for group-wide supervision, enterprise risk analysis, and cooperation with other regulatory officials; and

(a) Substantially similar to the system of regulation provided under the laws of this state; or

(b) Otherwise sufficient in terms of providing for group-wide supervision, enterprise risk analysis, and cooperation with other regulatory officials; and

(v) Whether or not another regulatory official who is acting or seeking to act as the group-wide supervisor provides the commissioner with reasonably reciprocal recognition and cooperation.

(3) A commissioner who is identified under this section as the group-wide supervisor may determine that it is in the best interest of the internationally active insurance group to acknowledge another supervisor to serve as the group-wide supervisor.

(4) The acknowledgment of the group-wide supervisor shall be made after consideration of the factors listed in subdivision (b)(2)(C) of this section in cooperation with and subject to the acknowledgment of other regulatory officials involved with supervision of members of the internally active insurance group after consultation with the internationally active insurance group.

(c) (1) Notwithstanding any other law, when another regulatory official is acting as the group-wide supervisor of an internationally active insurance group, the commissioner shall acknowledge that regulatory official as the group-wide supervisor. (2) However, the commissioner shall reconsider a determination or acknowledgement of a regulatory official as the group-wide supervisor if a material change in the internationally active insurance group results in: (A) The internationally active insurance group's insurers domiciled in this state holding the largest share of the group's premiums, assets, or liabilities; or (B) This state's becoming the place of domicile of the top-tiered insurer in the insurance holding company system of the internationally active insurance group.

(1) Notwithstanding any other law, when another regulatory official is acting as the group-wide supervisor of an internationally active insurance group, the commissioner shall acknowledge that regulatory official as the group-wide supervisor.

(2) However, the commissioner shall reconsider a determination or acknowledgement of a regulatory official as the group-wide supervisor if a material change in the internationally active insurance group results in: (A) The internationally active insurance group's insurers domiciled in this state holding the largest share of the group's premiums, assets, or liabilities; or (B) This state's becoming the place of domicile of the top-tiered insurer in the insurance holding company system of the internationally active insurance group.

(A) The internationally active insurance group's insurers domiciled in this state holding the largest share of the group's premiums, assets, or liabilities; or

(B) This state's becoming the place of domicile of the top-tiered insurer in the insurance holding company system of the internationally active insurance group.

(d) (1) Under § 23-63-516 , the commissioner may collect from an insurer registered under § 23-63-514 any information necessary to determine whether or not the commissioner may act as the group-wide supervisor of an internationally active insurance group or if the commissioner may acknowledge another regulatory official to act as the group-wide supervisor. (2) Before issuing a determination that an internationally active insurance group is subject to group-wide supervision by the commissioner, the commissioner shall notify the insurer registered under § 23-63-514 and the ultimate controlling person within the internationally active insurance group. (3) The internationally active insurance group shall have at least thirty (30) days to provide the commissioner with any additional information requested by the commissioner to assist the commissioner to make a determination. (4) The commissioner shall publish on the State Insurance Department's website and any other required public records website maintained by the state the identity of the internationally active insurance groups that the commissioner has determined are subject to group-wide supervision by the commissioner.

(1) Under § 23-63-516 , the commissioner may collect from an insurer registered under § 23-63-514 any information necessary to determine whether or not the commissioner may act as the group-wide supervisor of an internationally active insurance group or if the commissioner may acknowledge another regulatory official to act as the group-wide supervisor.

(2) Before issuing a determination that an internationally active insurance group is subject to group-wide supervision by the commissioner, the commissioner shall notify the insurer registered under § 23-63-514 and the ultimate controlling person within the internationally active insurance group.

(3) The internationally active insurance group shall have at least thirty (30) days to provide the commissioner with any additional information requested by the commissioner to assist the commissioner to make a determination.

(4) The commissioner shall publish on the State Insurance Department's website and any other required public records website maintained by the state the identity of the internationally active insurance groups that the commissioner has determined are subject to group-wide supervision by the commissioner.

(e) If the commissioner is the group-wide supervisor for an internationally active insurance group, the commissioner may engage in any of the following group-wide supervision activities: (1) Assess the enterprise risks within the internationally active insurance group to ensure that: (A) The material financial condition and liquidity risks to the members of the internationally active insurance group that are engaged in the business of insurance are identified by management; and (B) Reasonable and effective mitigation measures are in place; (2) Request information from any member of an internationally active insurance group subject to the commissioner's supervision that the commissioner determines is necessary and appropriate to assess enterprise risk, including without limitation information concerning members of the internationally active insurance group's: (A) Governance, risk assessment, and management; (B) Capital adequacy; and (C) Material intercompany transactions; (3) Coordinate and, through the authority of the regulatory officials of the jurisdictions where members of the internationally active insurance group are domiciled, compel development and implementation of reasonable measures designed to ensure that the internationally active insurance group is able to timely recognize and mitigate enterprise risks to members of the internationally active insurance group that are engaged in the business of insurance; (4) Communicate with other state, federal, and international regulatory agencies for members of the internationally active insurance group and share relevant information subject to § 23-63-517 , through supervisory colleges under § 23-63-531 , or otherwise permitted; (5) (A) Enter into agreements with or obtain documentation from any insurer registered under § 23-63-514 , any member of the internationally active insurance group, and any other state, federal, and international regulatory agencies for members of the internationally active insurance group to provide the basis for the commissioner's role as group-wide supervisor, including provisions for resolving disputes with other regulatory officials. (B) An agreement or documentation shall not serve as evidence in any proceeding that an insurer or member of an insurance holding company system not domiciled or incorporated in this state is doing business in this state or is otherwise subject to jurisdiction in this state; and (6) Enter into other group-wide supervision activities that are consistent with the authorities and purposes in this section, as considered necessary by the commissioner.

(1) Assess the enterprise risks within the internationally active insurance group to ensure that: (A) The material financial condition and liquidity risks to the members of the internationally active insurance group that are engaged in the business of insurance are identified by management; and (B) Reasonable and effective mitigation measures are in place;

(A) The material financial condition and liquidity risks to the members of the internationally active insurance group that are engaged in the business of insurance are identified by management; and

(B) Reasonable and effective mitigation measures are in place;

(2) Request information from any member of an internationally active insurance group subject to the commissioner's supervision that the commissioner determines is necessary and appropriate to assess enterprise risk, including without limitation information concerning members of the internationally active insurance group's: (A) Governance, risk assessment, and management; (B) Capital adequacy; and (C) Material intercompany transactions;

(A) Governance, risk assessment, and management;

(B) Capital adequacy; and

(C) Material intercompany transactions;

(3) Coordinate and, through the authority of the regulatory officials of the jurisdictions where members of the internationally active insurance group are domiciled, compel development and implementation of reasonable measures designed to ensure that the internationally active insurance group is able to timely recognize and mitigate enterprise risks to members of the internationally active insurance group that are engaged in the business of insurance;

(4) Communicate with other state, federal, and international regulatory agencies for members of the internationally active insurance group and share relevant information subject to § 23-63-517 , through supervisory colleges under § 23-63-531 , or otherwise permitted;

(5) (A) Enter into agreements with or obtain documentation from any insurer registered under § 23-63-514 , any member of the internationally active insurance group, and any other state, federal, and international regulatory agencies for members of the internationally active insurance group to provide the basis for the commissioner's role as group-wide supervisor, including provisions for resolving disputes with other regulatory officials. (B) An agreement or documentation shall not serve as evidence in any proceeding that an insurer or member of an insurance holding company system not domiciled or incorporated in this state is doing business in this state or is otherwise subject to jurisdiction in this state; and

(A) Enter into agreements with or obtain documentation from any insurer registered under § 23-63-514 , any member of the internationally active insurance group, and any other state, federal, and international regulatory agencies for members of the internationally active insurance group to provide the basis for the commissioner's role as group-wide supervisor, including provisions for resolving disputes with other regulatory officials.

(B) An agreement or documentation shall not serve as evidence in any proceeding that an insurer or member of an insurance holding company system not domiciled or incorporated in this state is doing business in this state or is otherwise subject to jurisdiction in this state; and

(6) Enter into other group-wide supervision activities that are consistent with the authorities and purposes in this section, as considered necessary by the commissioner.

(f) If the commissioner acknowledges that another regulatory official from a jurisdiction that is not accredited by the National Association of Insurance Commissioners is the group-wide supervisor, the commissioner may cooperate, through supervisory colleges or otherwise, with group-wide supervision undertaken by the group-wide supervisor if: (1) The commissioner's cooperation is not a violation of this state's law; and (2) (A) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the commissioner's activities as a group-wide supervisor for other internationally active insurance groups. (B) If recognition and cooperation are not reasonably reciprocal, the commissioner may refuse recognition and cooperation.

(1) The commissioner's cooperation is not a violation of this state's law; and

(2) (A) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the commissioner's activities as a group-wide supervisor for other internationally active insurance groups. (B) If recognition and cooperation are not reasonably reciprocal, the commissioner may refuse recognition and cooperation.

(A) The regulatory official acknowledged as the group-wide supervisor also recognizes and cooperates with the commissioner's activities as a group-wide supervisor for other internationally active insurance groups.

(B) If recognition and cooperation are not reasonably reciprocal, the commissioner may refuse recognition and cooperation.

(g) The commissioner may enter into agreements with or obtain documentation from an insurer registered under § 23-63-514 , any affiliate of the insurer, and other state, federal, and international regulatory agencies for members of the internationally active insurance group, that provide the basis for a regulatory official's role as group-wide supervisor.

(h) The commissioner may promulgate rules necessary for the administration of this section.

(i) A registered insurer subject to this section is liable for and shall pay the reasonable expenses of the commissioner's participation in the administration of this section, including the engagement of attorneys, actuaries, and any other professionals, and all reasonable travel expenses.

Added by Act 2015, No. 1223,§ 14, eff. 7/22/2015.
Ark. Code Ann. § 23-42-205 — AR Code / Title 23 / Chapter 42 / Subchapter 2 / Section 23-42-205
Investigations
Status: in_force

(a) The Securities Commissioner, in his or her discretion, may: (1) Make any public or private investigations within or outside of this state which he or she deems necessary to determine whether any person has violated or is about to violate any provision of this chapter or any rule or order under this chapter, or to aid in the enforcement of this chapter or in the prescribing of rules and forms under this chapter; (2) Require or permit any person to file a statement in writing, under oath, or otherwise as the commissioner determines, as to all the facts and circumstances concerning the matter to be investigated; and (3) Publish information concerning any violation of this chapter or any rule or order hereunder. (b) For the purpose of any investigation or proceeding under this chapter, the commissioner or any officer designated by him or her may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the commissioner deems relevant or material to the inquiry. (c) (1) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may order the person to appear before the commissioner or the officer designated by the commissioner to produce evidence or testify concerning the matter under investigation or in question. (2) Failure to obey the order may be punished as contempt of court. (d) (1) No person is excused from attending and testifying, or from producing any document or record, before the commissioner, or in obedience to the subpoena of the commissioner or any officer designated by him or her, or in any proceeding instituted by the commissioner, on the ground that the testimony or evidence, documentary or otherwise, required of him or her may tend to incriminate him or her or subject him or her to a penalty or forfeiture. However, no individual may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she is compelled, after claiming his or her privilege against self-incrimination, to testify or produce evidence, documentary or otherwise, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying. (2) However, no provision of this chapter shall be construed to require, or to authorize the commissioner to require, any investment adviser engaged in rendering investment advisory services to disclose the identity, investments, or affairs of any client of the investment adviser, except insofar as the disclosure may be necessary or appropriate in a particular proceeding or investigation having as its objective the enforcement of a provision of this chapter. Acts 1959, No. 254, § 19; A.S.A. 1947, § 67-1253; Acts 2009, No. 462, § 1.

(a) The Securities Commissioner, in his or her discretion, may: (1) Make any public or private investigations within or outside of this state which he or she deems necessary to determine whether any person has violated or is about to violate any provision of this chapter or any rule or order under this chapter, or to aid in the enforcement of this chapter or in the prescribing of rules and forms under this chapter; (2) Require or permit any person to file a statement in writing, under oath, or otherwise as the commissioner determines, as to all the facts and circumstances concerning the matter to be investigated; and (3) Publish information concerning any violation of this chapter or any rule or order hereunder.

(1) Make any public or private investigations within or outside of this state which he or she deems necessary to determine whether any person has violated or is about to violate any provision of this chapter or any rule or order under this chapter, or to aid in the enforcement of this chapter or in the prescribing of rules and forms under this chapter;

(2) Require or permit any person to file a statement in writing, under oath, or otherwise as the commissioner determines, as to all the facts and circumstances concerning the matter to be investigated; and

(3) Publish information concerning any violation of this chapter or any rule or order hereunder.

(b) For the purpose of any investigation or proceeding under this chapter, the commissioner or any officer designated by him or her may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the commissioner deems relevant or material to the inquiry.

(c) (1) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may order the person to appear before the commissioner or the officer designated by the commissioner to produce evidence or testify concerning the matter under investigation or in question. (2) Failure to obey the order may be punished as contempt of court.

(1) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may order the person to appear before the commissioner or the officer designated by the commissioner to produce evidence or testify concerning the matter under investigation or in question.

(2) Failure to obey the order may be punished as contempt of court.

(d) (1) No person is excused from attending and testifying, or from producing any document or record, before the commissioner, or in obedience to the subpoena of the commissioner or any officer designated by him or her, or in any proceeding instituted by the commissioner, on the ground that the testimony or evidence, documentary or otherwise, required of him or her may tend to incriminate him or her or subject him or her to a penalty or forfeiture. However, no individual may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she is compelled, after claiming his or her privilege against self-incrimination, to testify or produce evidence, documentary or otherwise, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying. (2) However, no provision of this chapter shall be construed to require, or to authorize the commissioner to require, any investment adviser engaged in rendering investment advisory services to disclose the identity, investments, or affairs of any client of the investment adviser, except insofar as the disclosure may be necessary or appropriate in a particular proceeding or investigation having as its objective the enforcement of a provision of this chapter.

(1) No person is excused from attending and testifying, or from producing any document or record, before the commissioner, or in obedience to the subpoena of the commissioner or any officer designated by him or her, or in any proceeding instituted by the commissioner, on the ground that the testimony or evidence, documentary or otherwise, required of him or her may tend to incriminate him or her or subject him or her to a penalty or forfeiture. However, no individual may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she is compelled, after claiming his or her privilege against self-incrimination, to testify or produce evidence, documentary or otherwise, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying.

(2) However, no provision of this chapter shall be construed to require, or to authorize the commissioner to require, any investment adviser engaged in rendering investment advisory services to disclose the identity, investments, or affairs of any client of the investment adviser, except insofar as the disclosure may be necessary or appropriate in a particular proceeding or investigation having as its objective the enforcement of a provision of this chapter.

Acts 1959, No. 254, § 19; A.S.A. 1947, § 67-1253; Acts 2009, No. 462, § 1.
Ark. Code Ann. § 23-76-128 — AR Code / Title 23 / Chapter 76 / Section 23-76-128
Applications, filings, and reports public
Status: in_force

All applications, filings, and reports required under this chapter shall be treated as public documents. Acts 1975, No. 454, § 26; A.S.A. 1947, § 66-5226.

All applications, filings, and reports required under this chapter shall be treated as public documents.

Acts 1975, No. 454, § 26; A.S.A. 1947, § 66-5226.
Ark. Code Ann. § 23-84-106 — AR Code / Title 23 / Chapter 84 / Section 23-84-106
Calculation of reserves generally
Status: in_force

(a) Except as otherwise provided in §§ 23-84-107 and 23-84-110 , reserves according to the Insurance Commissioner's reserve valuation method, for the life insurance and endowment benefits of policies providing for a uniform amount of insurance and requiring the payment of uniform premiums, shall be the excess, if any, of the present value at the date of valuation, of such future guaranteed benefits provided for by the policies, over the then-present value of any future modified net premiums therefor. The modified net premiums for any policy shall be a uniform percentage of the respective contract premiums for the benefits such that the present value, at the date of issue of the policy, of all modified net premiums shall be equal to the sum of the then-present value of benefits provided for by the policy and the excess of subdivision (a)(1) of this section over subdivision (a)(2) of this section, as follows: (1) A net level annual premium equal to the present value, at the date of issue, of such benefits provided for after the first policy year, divided by the present value, at the date of issue, of an annuity of one (1) per annum payable on the first and each subsequent anniversary of the policy on which a premium falls due. However, the net level annual premium shall not exceed the net level annual premium on the nineteen-year premium whole life plan for insurance of the same amount at an age one (1) year higher than the age at issue of the policy; and (2) A net one-year-term premium for the benefits provided for in the first policy year. (b) (1) However, for any life insurance policy issued on or after January 1, 1985, for which the contract premium in the first policy year exceeds that of the second year and for which no comparable additional benefit is provided in the first year for the excess and which provides an endowment benefit or a cash surrender value or a combination thereof in an amount greater than the excess premium, the reserve according to the commissioner's reserve valuation method as of any policy anniversary occurring on or before the assumed ending date defined in this section as the first policy anniversary on which the sum of any endowment benefit and any cash surrender value then available is greater than the excess premium shall, except as otherwise provided in § 23-84-110 , be the greater of the reserve as of the policy anniversary calculated as described in subsection (a) of this section and the reserve as of the policy anniversary calculated as described in subsection (a) of this section, but with: (A) The value defined in subdivision (a)(1) of this section being reduced by fifteen percent (15%) of the amount of the excess first year premium; (B) All present values of benefits and premiums being determined without reference to premiums or benefits provided by the policy after the assumed ending date; and (C) The policy being assumed to mature on that date being considered as an endowment benefit. (2) In making the comparison in subdivision (b)(1) of this section, the mortality and interest bases stated in §§ 23-84-104 and 23-84-105 shall be used. (c) Reserves according to the commissioner's reserve valuation method for: (1) Life insurance policies providing for a varying amount of insurance or requiring the payment of varying premiums; (2) Group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, as now or hereafter amended; (3) Disability and accidental death benefits in all policies and contracts; and (4) All other benefits, except life insurance and endowment benefits in life insurance policies and benefits provided by all other annuity and pure endowment contracts, shall be calculated by a method consistent with the principles of this section. Amended by Act 2015, No. 1223,§ 40, eff. 7/22/2015. Acts 1959, No. 148, § 92; 1961, No. 466, § 2; 1977, No. 551, § 3; 1981, No. 535, § 1; A.S.A. 1947, § 66-2511.

(a) Except as otherwise provided in §§ 23-84-107 and 23-84-110 , reserves according to the Insurance Commissioner's reserve valuation method, for the life insurance and endowment benefits of policies providing for a uniform amount of insurance and requiring the payment of uniform premiums, shall be the excess, if any, of the present value at the date of valuation, of such future guaranteed benefits provided for by the policies, over the then-present value of any future modified net premiums therefor. The modified net premiums for any policy shall be a uniform percentage of the respective contract premiums for the benefits such that the present value, at the date of issue of the policy, of all modified net premiums shall be equal to the sum of the then-present value of benefits provided for by the policy and the excess of subdivision (a)(1) of this section over subdivision (a)(2) of this section, as follows: (1) A net level annual premium equal to the present value, at the date of issue, of such benefits provided for after the first policy year, divided by the present value, at the date of issue, of an annuity of one (1) per annum payable on the first and each subsequent anniversary of the policy on which a premium falls due. However, the net level annual premium shall not exceed the net level annual premium on the nineteen-year premium whole life plan for insurance of the same amount at an age one (1) year higher than the age at issue of the policy; and (2) A net one-year-term premium for the benefits provided for in the first policy year.

(1) A net level annual premium equal to the present value, at the date of issue, of such benefits provided for after the first policy year, divided by the present value, at the date of issue, of an annuity of one (1) per annum payable on the first and each subsequent anniversary of the policy on which a premium falls due. However, the net level annual premium shall not exceed the net level annual premium on the nineteen-year premium whole life plan for insurance of the same amount at an age one (1) year higher than the age at issue of the policy; and

(2) A net one-year-term premium for the benefits provided for in the first policy year.

(b) (1) However, for any life insurance policy issued on or after January 1, 1985, for which the contract premium in the first policy year exceeds that of the second year and for which no comparable additional benefit is provided in the first year for the excess and which provides an endowment benefit or a cash surrender value or a combination thereof in an amount greater than the excess premium, the reserve according to the commissioner's reserve valuation method as of any policy anniversary occurring on or before the assumed ending date defined in this section as the first policy anniversary on which the sum of any endowment benefit and any cash surrender value then available is greater than the excess premium shall, except as otherwise provided in § 23-84-110 , be the greater of the reserve as of the policy anniversary calculated as described in subsection (a) of this section and the reserve as of the policy anniversary calculated as described in subsection (a) of this section, but with: (A) The value defined in subdivision (a)(1) of this section being reduced by fifteen percent (15%) of the amount of the excess first year premium; (B) All present values of benefits and premiums being determined without reference to premiums or benefits provided by the policy after the assumed ending date; and (C) The policy being assumed to mature on that date being considered as an endowment benefit. (2) In making the comparison in subdivision (b)(1) of this section, the mortality and interest bases stated in §§ 23-84-104 and 23-84-105 shall be used.

(1) However, for any life insurance policy issued on or after January 1, 1985, for which the contract premium in the first policy year exceeds that of the second year and for which no comparable additional benefit is provided in the first year for the excess and which provides an endowment benefit or a cash surrender value or a combination thereof in an amount greater than the excess premium, the reserve according to the commissioner's reserve valuation method as of any policy anniversary occurring on or before the assumed ending date defined in this section as the first policy anniversary on which the sum of any endowment benefit and any cash surrender value then available is greater than the excess premium shall, except as otherwise provided in § 23-84-110 , be the greater of the reserve as of the policy anniversary calculated as described in subsection (a) of this section and the reserve as of the policy anniversary calculated as described in subsection (a) of this section, but with: (A) The value defined in subdivision (a)(1) of this section being reduced by fifteen percent (15%) of the amount of the excess first year premium; (B) All present values of benefits and premiums being determined without reference to premiums or benefits provided by the policy after the assumed ending date; and (C) The policy being assumed to mature on that date being considered as an endowment benefit.

(A) The value defined in subdivision (a)(1) of this section being reduced by fifteen percent (15%) of the amount of the excess first year premium;

(B) All present values of benefits and premiums being determined without reference to premiums or benefits provided by the policy after the assumed ending date; and

(C) The policy being assumed to mature on that date being considered as an endowment benefit.

(2) In making the comparison in subdivision (b)(1) of this section, the mortality and interest bases stated in §§ 23-84-104 and 23-84-105 shall be used.

(c) Reserves according to the commissioner's reserve valuation method for: (1) Life insurance policies providing for a varying amount of insurance or requiring the payment of varying premiums; (2) Group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, as now or hereafter amended; (3) Disability and accidental death benefits in all policies and contracts; and (4) All other benefits, except life insurance and endowment benefits in life insurance policies and benefits provided by all other annuity and pure endowment contracts, shall be calculated by a method consistent with the principles of this section.

(1) Life insurance policies providing for a varying amount of insurance or requiring the payment of varying premiums;

(2) Group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, as now or hereafter amended;

(3) Disability and accidental death benefits in all policies and contracts; and

(4) All other benefits, except life insurance and endowment benefits in life insurance policies and benefits provided by all other annuity and pure endowment contracts, shall be calculated by a method consistent with the principles of this section.

shall be calculated by a method consistent with the principles of this section.

Amended by Act 2015, No. 1223,§ 40, eff. 7/22/2015.

Acts 1959, No. 148, § 92; 1961, No. 466, § 2; 1977, No. 551, § 3; 1981, No. 535, § 1; A.S.A. 1947, § 66-2511.
Ark. Code Ann. § 23-3-503 — AR Code / Title 23 / Chapter 3 / Subchapter 5 / Section 23-3-503
Commission's jurisdiction, power, and authority
Status: in_force

(a) The Arkansas Public Service Commission shall have jurisdiction over all navigable water crossings. (b) The commission shall have the power, authority, and responsibility, subject to the further provisions of this subchapter, to require that a navigable water crossing be constructed or operated in a manner consistent with the public safety and in such a manner as to cause no unlawful interference with some other paramount public or private use of the navigable waterway or its underlying bed at the point of the crossing. (c) The commission shall further have the power, authority, and responsibility to grant to each river crossing proprietor, from such title or ownership as the State of Arkansas holds in respect to the bed of navigable waterways, all rights required or needed by the river crossing proprietor for the purpose of constructing, operating, repairing, replacing, whether with the same or a different size, dimension, or specification, altering, maintaining, or removing its public service facility at the point of any navigable water crossing. Acts 1961, No. 188, § 2; A.S.A. 1947, § 73-2202.

(a) The Arkansas Public Service Commission shall have jurisdiction over all navigable water crossings.

(b) The commission shall have the power, authority, and responsibility, subject to the further provisions of this subchapter, to require that a navigable water crossing be constructed or operated in a manner consistent with the public safety and in such a manner as to cause no unlawful interference with some other paramount public or private use of the navigable waterway or its underlying bed at the point of the crossing.

(c) The commission shall further have the power, authority, and responsibility to grant to each river crossing proprietor, from such title or ownership as the State of Arkansas holds in respect to the bed of navigable waterways, all rights required or needed by the river crossing proprietor for the purpose of constructing, operating, repairing, replacing, whether with the same or a different size, dimension, or specification, altering, maintaining, or removing its public service facility at the point of any navigable water crossing.

Acts 1961, No. 188, § 2; A.S.A. 1947, § 73-2202.
Ark. Code Ann. § 23-62-106 — AR Code / Title 23 / Chapter 62 / Subchapter 1 / Section 23-62-106
Surety insurance
Status: in_force

As used in the Arkansas Insurance Code, unless the context otherwise requires, "surety insurance" includes: (1) Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust; (2) Insurance guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings, and contracts of suretyship; and (3) Insurance indemnifying banks, bankers, brokers, and financial or moneyed corporations or associations against loss, resulting from any cause, of bills of exchange, notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts or other valuable papers, documents, money, precious metals and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and semiprecious stones, including any loss while they are being transported in armored motor vehicles or by messenger, but not including any other risks of transportation or navigation; also, insurance against loss or damage to an insured's premises or to his or her furnishings, fixtures, equipment, safes, and vaults therein caused by burglary, robbery, theft, vandalism, or malicious mischief, or any attempt thereof. Acts 1959, No. 148, § 77; A.S.A. 1947, § 66-2406.

As used in the Arkansas Insurance Code, unless the context otherwise requires, "surety insurance" includes:

(1) Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust;

(2) Insurance guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings, and contracts of suretyship; and

(3) Insurance indemnifying banks, bankers, brokers, and financial or moneyed corporations or associations against loss, resulting from any cause, of bills of exchange, notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts or other valuable papers, documents, money, precious metals and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and semiprecious stones, including any loss while they are being transported in armored motor vehicles or by messenger, but not including any other risks of transportation or navigation; also, insurance against loss or damage to an insured's premises or to his or her furnishings, fixtures, equipment, safes, and vaults therein caused by burglary, robbery, theft, vandalism, or malicious mischief, or any attempt thereof.

Acts 1959, No. 148, § 77; A.S.A. 1947, § 66-2406.