Ark. Code Ann. § 23-12-303 — AR Code / Title 23 / Chapter 12 / Subchapter 3 / Section 23-12-303
Connections or crossings with other railroads - Compensation - Damages
Status: in_force

(a) (1) Every railroad corporation created and organized under the laws of this state or created and organized under the laws of any other state or the United States and operating a railroad in this state shall have the power to cross, intersect, join, or unite its railroad with any other railroad at any point on its route and upon the grounds and right-of-way of the other railroad company with the necessary turnouts, sidings, and switches and other conveniences in furtherance of the object of its construction. (2) Every railroad company whose railroad is or shall be crossed, joined, or intersected by any new railroad shall unite with the owners and corporation of the new railroad in forming the crossing, intersection, and connection and shall grant to the railroads so crossing, intersecting, or uniting all the necessary facilities for that purpose as aforesaid. (b) If the two (2) corporations cannot agree upon the amount of compensation to be made for the purposes set forth in subsection (a) of this section or the points or manner of the crossing, junctions, or intersections, the compensation shall be ascertained and determined by a court of competent jurisdiction in the same manner as provided for the ascertainment of damages for right-of-way for railroads. (c) Any railroad company violating any of the provisions of this section shall forfeit and pay to the company injured thereby double the amount of damages which the injured company may have sustained, to be recovered in any court of competent jurisdiction. Acts 1883, No. 89, §§ 1, 2, 4, p. 158; C. &. M. Dig., §§ 853, 3980, 3981, 8489, 8490, 8492; Pope's Dig., §§ 1057, 4982, 4983, 11063, 11064, 11066; A.S.A. 1947, §§ 73-609, 73-610, 73-804.

(a) (1) Every railroad corporation created and organized under the laws of this state or created and organized under the laws of any other state or the United States and operating a railroad in this state shall have the power to cross, intersect, join, or unite its railroad with any other railroad at any point on its route and upon the grounds and right-of-way of the other railroad company with the necessary turnouts, sidings, and switches and other conveniences in furtherance of the object of its construction. (2) Every railroad company whose railroad is or shall be crossed, joined, or intersected by any new railroad shall unite with the owners and corporation of the new railroad in forming the crossing, intersection, and connection and shall grant to the railroads so crossing, intersecting, or uniting all the necessary facilities for that purpose as aforesaid.

(1) Every railroad corporation created and organized under the laws of this state or created and organized under the laws of any other state or the United States and operating a railroad in this state shall have the power to cross, intersect, join, or unite its railroad with any other railroad at any point on its route and upon the grounds and right-of-way of the other railroad company with the necessary turnouts, sidings, and switches and other conveniences in furtherance of the object of its construction.

(2) Every railroad company whose railroad is or shall be crossed, joined, or intersected by any new railroad shall unite with the owners and corporation of the new railroad in forming the crossing, intersection, and connection and shall grant to the railroads so crossing, intersecting, or uniting all the necessary facilities for that purpose as aforesaid.

(b) If the two (2) corporations cannot agree upon the amount of compensation to be made for the purposes set forth in subsection (a) of this section or the points or manner of the crossing, junctions, or intersections, the compensation shall be ascertained and determined by a court of competent jurisdiction in the same manner as provided for the ascertainment of damages for right-of-way for railroads.

(c) Any railroad company violating any of the provisions of this section shall forfeit and pay to the company injured thereby double the amount of damages which the injured company may have sustained, to be recovered in any court of competent jurisdiction.

Acts 1883, No. 89, §§ 1, 2, 4, p. 158; C. &. M. Dig., §§ 853, 3980, 3981, 8489, 8490, 8492; Pope's Dig., §§ 1057, 4982, 4983, 11063, 11064, 11066; A.S.A. 1947, §§ 73-609, 73-610, 73-804.
Ark. Code Ann. § 23-62-412 — AR Code / Title 23 / Chapter 62 / Subchapter 4 / Section 23-62-412
Penalties and liabilities
Status: in_force

(a) A reinsurance intermediary, insurer, or reinsurer found by the Insurance Commissioner, after a hearing conducted in accordance with §§ 23-61-301 - 23-61-307 , to be in violation of any provision of this subchapter shall: (1) For each separate violation, pay a penalty in an amount not exceeding five thousand dollars ($5,000); (2) Be subject to revocation or suspension of its license; and (3) If a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator, or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to the violation. (b) The decision, determination, or order of the commissioner pursuant to subsection (a) of this section shall be subject to judicial review pursuant to § 23-61-307 . (c) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided in the insurance law. (d) Nothing contained in this subchapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors, or other third parties, or confer any rights to those persons. Acts 1993, No. 527, § 1.

(a) A reinsurance intermediary, insurer, or reinsurer found by the Insurance Commissioner, after a hearing conducted in accordance with §§ 23-61-301 - 23-61-307 , to be in violation of any provision of this subchapter shall: (1) For each separate violation, pay a penalty in an amount not exceeding five thousand dollars ($5,000); (2) Be subject to revocation or suspension of its license; and (3) If a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator, or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to the violation.

(1) For each separate violation, pay a penalty in an amount not exceeding five thousand dollars ($5,000);

(2) Be subject to revocation or suspension of its license; and

(3) If a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator, or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to the violation.

(b) The decision, determination, or order of the commissioner pursuant to subsection (a) of this section shall be subject to judicial review pursuant to § 23-61-307 .

(c) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided in the insurance law.

(d) Nothing contained in this subchapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors, or other third parties, or confer any rights to those persons.

Acts 1993, No. 527, § 1.
Ark. Code Ann. § 23-79-404 — AR Code / Title 23 / Chapter 79 / Subchapter 4 / Section 23-79-404
Standards for policy provisions and authority to promulgate rules
Status: in_force

(a) No Medicare supplement policy or certificate in force in this state shall contain benefits that duplicate benefits provided by Medicare. (b) Notwithstanding any other provision of law of this state, a Medicare supplement policy or certificate shall not exclude or limit benefits for losses incurred more than six (6) months from the effective date of coverage because it involved a preexisting condition. The policy or certificate shall not define a preexisting condition more restrictively than a condition for which medical advice was given or treatment was recommended by or received from a physician within six (6) months before the effective date of coverage. (c) The Insurance Commissioner shall adopt reasonable rules to establish specific standards for policy provisions of Medicare supplement policies and certificates. Such standards shall be in addition to and in accordance with applicable laws of this state, including §§ 23-66-306 , 23-79-109 , and 23-79-112 . No requirement of the Arkansas Insurance Code relating to minimum required policy benefits, other than the minimum standards contained in this subchapter, shall apply to Medicare supplement policies and certificates. The standards may cover, but not be limited to: (1) Terms of renewability; (2) Initial and subsequent conditions of eligibility; (3) Nonduplication of coverage; (4) Probationary periods; (5) Benefit limitations, exceptions, and reductions; (6) Elimination periods; (7) Requirements for replacement; (8) Recurrent conditions; and (9) Definitions of terms. (d) The commissioner shall adopt reasonable rules to establish minimum standards for benefits, claims payment, marketing practices and compensation arrangements, and reporting practices for Medicare supplement policies and certificates. (e) The commissioner may adopt, from time to time, such reasonable rules as are necessary to conform Medicare supplement policies and certificates to the requirements of federal law and regulations promulgated thereunder, including, but not limited to: (1) Requiring refunds or credits if the policies or certificates do not meet loss ratio requirements; (2) Establishing a uniform methodology for calculating and reporting loss ratios; (3) Assuring public access to policies, premiums, and loss ratio information of issuers of Medicare supplement insurance; (4) Establishing a process for approving or disapproving policy forms and certificate forms and proposed premium increases; (5) Establishing a policy for holding public hearings prior to approval of premium increases; and (6) Establishing standards for Medicare SELECT policies and certificates. (f) The commissioner may adopt reasonable rules that specify prohibited policy provisions not otherwise specifically authorized by statute which, in the opinion of the commissioner, are unjust, unfair, or unfairly discriminatory to any person insured or proposed to be insured under a Medicare supplement policy or certificate. Amended by Act 2019, No. 315,§ 2712, eff. 7/24/2019. Acts 1992 (1st Ex. Sess.), No. 72, § 3.

(a) No Medicare supplement policy or certificate in force in this state shall contain benefits that duplicate benefits provided by Medicare.

(b) Notwithstanding any other provision of law of this state, a Medicare supplement policy or certificate shall not exclude or limit benefits for losses incurred more than six (6) months from the effective date of coverage because it involved a preexisting condition. The policy or certificate shall not define a preexisting condition more restrictively than a condition for which medical advice was given or treatment was recommended by or received from a physician within six (6) months before the effective date of coverage.

(c) The Insurance Commissioner shall adopt reasonable rules to establish specific standards for policy provisions of Medicare supplement policies and certificates. Such standards shall be in addition to and in accordance with applicable laws of this state, including §§ 23-66-306 , 23-79-109 , and 23-79-112 . No requirement of the Arkansas Insurance Code relating to minimum required policy benefits, other than the minimum standards contained in this subchapter, shall apply to Medicare supplement policies and certificates. The standards may cover, but not be limited to: (1) Terms of renewability; (2) Initial and subsequent conditions of eligibility; (3) Nonduplication of coverage; (4) Probationary periods; (5) Benefit limitations, exceptions, and reductions; (6) Elimination periods; (7) Requirements for replacement; (8) Recurrent conditions; and (9) Definitions of terms.

(1) Terms of renewability;

(2) Initial and subsequent conditions of eligibility;

(3) Nonduplication of coverage;

(4) Probationary periods;

(5) Benefit limitations, exceptions, and reductions;

(6) Elimination periods;

(7) Requirements for replacement;

(8) Recurrent conditions; and

(9) Definitions of terms.

(d) The commissioner shall adopt reasonable rules to establish minimum standards for benefits, claims payment, marketing practices and compensation arrangements, and reporting practices for Medicare supplement policies and certificates.

(e) The commissioner may adopt, from time to time, such reasonable rules as are necessary to conform Medicare supplement policies and certificates to the requirements of federal law and regulations promulgated thereunder, including, but not limited to: (1) Requiring refunds or credits if the policies or certificates do not meet loss ratio requirements; (2) Establishing a uniform methodology for calculating and reporting loss ratios; (3) Assuring public access to policies, premiums, and loss ratio information of issuers of Medicare supplement insurance; (4) Establishing a process for approving or disapproving policy forms and certificate forms and proposed premium increases; (5) Establishing a policy for holding public hearings prior to approval of premium increases; and (6) Establishing standards for Medicare SELECT policies and certificates.

(1) Requiring refunds or credits if the policies or certificates do not meet loss ratio requirements;

(2) Establishing a uniform methodology for calculating and reporting loss ratios;

(3) Assuring public access to policies, premiums, and loss ratio information of issuers of Medicare supplement insurance;

(4) Establishing a process for approving or disapproving policy forms and certificate forms and proposed premium increases;

(5) Establishing a policy for holding public hearings prior to approval of premium increases; and

(6) Establishing standards for Medicare SELECT policies and certificates.

(f) The commissioner may adopt reasonable rules that specify prohibited policy provisions not otherwise specifically authorized by statute which, in the opinion of the commissioner, are unjust, unfair, or unfairly discriminatory to any person insured or proposed to be insured under a Medicare supplement policy or certificate.

Amended by Act 2019, No. 315,§ 2712, eff. 7/24/2019.

Acts 1992 (1st Ex. Sess.), No. 72, § 3.
Ark. Code Ann. § 23-16-402 — AR Code / Title 23 / Chapter 16 / Subchapter 4 / Section 23-16-402
[Repealed]
Status: repealed

Repealed by Act 2021, No. 805,§ 1, eff. 7/28/2021. Acts 2005, No. 2289, § 1.

Repealed by Act 2021, No. 805,§ 1, eff. 7/28/2021.

Acts 2005, No. 2289, § 1.
Ark. Code Ann. § 23-67-302 — AR Code / Title 23 / Chapter 67 / Subchapter 3 / Section 23-67-302
Purpose
Status: in_force

The purpose of this subchapter is to amend this title to provide for the establishment of a mandatory workers' compensation insurance plan to assure coverage for employers who are in good faith entitled, but unable to procure, workers' compensation insurance in this state, and to provide that the operation and regulation of the Arkansas Workers' Compensation Insurance Plan shall be the responsibility of the Insurance Commissioner. Acts 1991, No. 561, § 1.

The purpose of this subchapter is to amend this title to provide for the establishment of a mandatory workers' compensation insurance plan to assure coverage for employers who are in good faith entitled, but unable to procure, workers' compensation insurance in this state, and to provide that the operation and regulation of the Arkansas Workers' Compensation Insurance Plan shall be the responsibility of the Insurance Commissioner.

Acts 1991, No. 561, § 1.
Ark. Code Ann. § 23-79-312 — AR Code / Title 23 / Chapter 79 / Subchapter 3 / Section 23-79-312
Motor vehicle liability insurance - Prohibition regarding step-downs
Status: in_force

No motor vehicle liability insurance policy issued or delivered in this state shall contain a provision that converts the limits for bodily injury or property damage to lower limits in the event that the insured motor vehicle is involved in an accident while it is being driven by a driver other than the insured. Acts 2001, No. 1438, § 1.

No motor vehicle liability insurance policy issued or delivered in this state shall contain a provision that converts the limits for bodily injury or property damage to lower limits in the event that the insured motor vehicle is involved in an accident while it is being driven by a driver other than the insured.

Acts 2001, No. 1438, § 1.
Ark. Code Ann. § 23-102-115 — AR Code / Title 23 / Chapter 102 / Section 23-102-115
Appeal
Status: in_force

Any applicant for a policy, any persons insured under the Market Assistance Program or the Arkansas Earthquake Authority, and any agency or insurer affected by the program or authority may appeal to the Insurance Commissioner any ruling or decision of the Board of the Arkansas Earthquake Authority, and the commissioner may consider the appeal under a de novo standard of review. Acts 1999, No. 1343, § 15.

Any applicant for a policy, any persons insured under the Market Assistance Program or the Arkansas Earthquake Authority, and any agency or insurer affected by the program or authority may appeal to the Insurance Commissioner any ruling or decision of the Board of the Arkansas Earthquake Authority, and the commissioner may consider the appeal under a de novo standard of review.

Acts 1999, No. 1343, § 15.
Ark. Code Ann. § 23-79-205 — AR Code / Title 23 / Chapter 79 / Subchapter 2 / Section 23-79-205
Service of process
Status: in_force

(a) In any suit brought in this state against an insurer, process may be served upon the insurer as follows: (1) As to domestic insurers, service of process may be had only in the manner as provided by § 16-58-124 ; (2) As to licensed foreign or alien insurers, service on and after January 1, 2003, may be made as provided in § 23-63-301 et seq.; (3) As to suits against unauthorized insurers, service of process shall be made as provided in §§ 23-65-101 - 23-65-104 , § 23-65-201 et seq., and §§ 23-65-301 - 23-65-318 for unauthorized insurers and surplus lines. (b) Any service of process shall be returnable to the court having jurisdiction under § 23-79-204 . Acts 1959, No. 148, § 302; A.S.A. 1947, § 66-3235; Acts 2001, No. 1604, § 111.

(a) In any suit brought in this state against an insurer, process may be served upon the insurer as follows: (1) As to domestic insurers, service of process may be had only in the manner as provided by § 16-58-124 ; (2) As to licensed foreign or alien insurers, service on and after January 1, 2003, may be made as provided in § 23-63-301 et seq.; (3) As to suits against unauthorized insurers, service of process shall be made as provided in §§ 23-65-101 - 23-65-104 , § 23-65-201 et seq., and §§ 23-65-301 - 23-65-318 for unauthorized insurers and surplus lines.

(1) As to domestic insurers, service of process may be had only in the manner as provided by § 16-58-124 ;

(2) As to licensed foreign or alien insurers, service on and after January 1, 2003, may be made as provided in § 23-63-301 et seq.;

(3) As to suits against unauthorized insurers, service of process shall be made as provided in §§ 23-65-101 - 23-65-104 , § 23-65-201 et seq., and §§ 23-65-301 - 23-65-318 for unauthorized insurers and surplus lines.

(b) Any service of process shall be returnable to the court having jurisdiction under § 23-79-204 .

Acts 1959, No. 148, § 302; A.S.A. 1947, § 66-3235; Acts 2001, No. 1604, § 111.
Ark. Code Ann. § 23-3-302 — AR Code / Title 23 / Chapter 3 / Subchapter 3 / Section 23-3-302
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Acquiring party" means a person and all affiliates of that person by whom or on whose behalf a merger or other acquisition of control referred to in § 23-3-306 is to be affected; (2) "Affiliate" means a person who directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, including any corporation created at the direction of the person specified for purposes of corporate reorganization; (3) "Commission" means the Arkansas Public Service Commission; (4) (A) "Control", including the terms "controlling", "controlled by", and "under common control with", means the direct or indirect possession of the power to direct or cause direction of the management and policies of a domestic public utility, whether through the ownership of voting securities, by contract, or otherwise, unless that power is the result of an official position with, or corporate office held in, that person. (B) Control shall be presumed to exist if any person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing ten percent (10%) or more of the aggregate number of the issued and outstanding voting securities of any domestic public utility. This presumption may be rebutted by a showing that control does not exist in fact. (C) The commission may determine, after furnishing all persons in interest notice and opportunity to be heard and making specific findings of fact to support its determination, that control exists in fact notwithstanding the absence of a presumption to that effect; (5) "Domestic public utility" means a person doing business in the state, whose business of providing utility service in this state is regulated by the commission, or by a political subdivision of a state, excluding any person providing telephone utility service, as described by subdivision (9)(C) of this section, of which title to all voting securities issued and outstanding is held by a total of three hundred (300) persons or less; (6) "Issuer" means any person who issues or proposes to issue any security; (7) "Person" means an individual, a corporation, a partnership, an association, a joint-stock company, a trust, an unincorporated organization, any similar entity, or any combination of the foregoing acting in concert; (8) (A) "Tender offer" means the acquisition of, or offer to acquire, pursuant to a tender offer or request or invitation for tenders, any issued and outstanding voting security of a domestic public utility if after acquisition the acquiring party would, directly or indirectly, be a record or beneficial owner of more than ten percent (10%) of the aggregate number of the issued and outstanding voting securities of the domestic public utility. (B) "Tender offer" does not mean: (i) Bids made by a dealer for his or her own account in the ordinary course of his or her business of buying and selling voting securities; or (ii) Any other offer from not more than fifty (50) persons to acquire a voting security, or the acquisition of a voting security pursuant to such an offer, for the sole account of the acquiring party, which is made in good faith and not for the purpose of avoiding the provisions of this subchapter; (9) "Utility service" means: (A) The furnishing and sale of gas to the public for domestic or general service by gas pipelines, distribution companies, or other companies operating within the state; (B) The production, generation, transmission, distribution, delivery, or furnishing of electricity for the production of light, heat, or power to or for the public for compensation; and (C) The conveyance or transmission of messages or communications by telephone where that service is offered to the public for compensation; and (10) "Voting security" means any issued and outstanding stock or indenture of any class presently entitling the owner or holder to vote with respect to the direction or management of the affairs of a company, or any stock or indenture of any class issued under or pursuant to any trust, agreement, or arrangement whereby a trustee or trustees or agent or agents for the owner or holder of the stock or indenture are entitled to vote with respect to the direction or management of the company. Acts 1985, No. 343, § 1; A.S.A. 1947, § 73-142.1; Acts 1987, No. 954, § 1.

As used in this subchapter, unless the context otherwise requires:

(1) "Acquiring party" means a person and all affiliates of that person by whom or on whose behalf a merger or other acquisition of control referred to in § 23-3-306 is to be affected;

(2) "Affiliate" means a person who directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, including any corporation created at the direction of the person specified for purposes of corporate reorganization;

(3) "Commission" means the Arkansas Public Service Commission;

(4) (A) "Control", including the terms "controlling", "controlled by", and "under common control with", means the direct or indirect possession of the power to direct or cause direction of the management and policies of a domestic public utility, whether through the ownership of voting securities, by contract, or otherwise, unless that power is the result of an official position with, or corporate office held in, that person. (B) Control shall be presumed to exist if any person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing ten percent (10%) or more of the aggregate number of the issued and outstanding voting securities of any domestic public utility. This presumption may be rebutted by a showing that control does not exist in fact. (C) The commission may determine, after furnishing all persons in interest notice and opportunity to be heard and making specific findings of fact to support its determination, that control exists in fact notwithstanding the absence of a presumption to that effect;

(A) "Control", including the terms "controlling", "controlled by", and "under common control with", means the direct or indirect possession of the power to direct or cause direction of the management and policies of a domestic public utility, whether through the ownership of voting securities, by contract, or otherwise, unless that power is the result of an official position with, or corporate office held in, that person.

(B) Control shall be presumed to exist if any person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing ten percent (10%) or more of the aggregate number of the issued and outstanding voting securities of any domestic public utility. This presumption may be rebutted by a showing that control does not exist in fact.

(C) The commission may determine, after furnishing all persons in interest notice and opportunity to be heard and making specific findings of fact to support its determination, that control exists in fact notwithstanding the absence of a presumption to that effect;

(5) "Domestic public utility" means a person doing business in the state, whose business of providing utility service in this state is regulated by the commission, or by a political subdivision of a state, excluding any person providing telephone utility service, as described by subdivision (9)(C) of this section, of which title to all voting securities issued and outstanding is held by a total of three hundred (300) persons or less;

(6) "Issuer" means any person who issues or proposes to issue any security;

(7) "Person" means an individual, a corporation, a partnership, an association, a joint-stock company, a trust, an unincorporated organization, any similar entity, or any combination of the foregoing acting in concert;

(8) (A) "Tender offer" means the acquisition of, or offer to acquire, pursuant to a tender offer or request or invitation for tenders, any issued and outstanding voting security of a domestic public utility if after acquisition the acquiring party would, directly or indirectly, be a record or beneficial owner of more than ten percent (10%) of the aggregate number of the issued and outstanding voting securities of the domestic public utility. (B) "Tender offer" does not mean: (i) Bids made by a dealer for his or her own account in the ordinary course of his or her business of buying and selling voting securities; or (ii) Any other offer from not more than fifty (50) persons to acquire a voting security, or the acquisition of a voting security pursuant to such an offer, for the sole account of the acquiring party, which is made in good faith and not for the purpose of avoiding the provisions of this subchapter;

(A) "Tender offer" means the acquisition of, or offer to acquire, pursuant to a tender offer or request or invitation for tenders, any issued and outstanding voting security of a domestic public utility if after acquisition the acquiring party would, directly or indirectly, be a record or beneficial owner of more than ten percent (10%) of the aggregate number of the issued and outstanding voting securities of the domestic public utility.

(B) "Tender offer" does not mean: (i) Bids made by a dealer for his or her own account in the ordinary course of his or her business of buying and selling voting securities; or (ii) Any other offer from not more than fifty (50) persons to acquire a voting security, or the acquisition of a voting security pursuant to such an offer, for the sole account of the acquiring party, which is made in good faith and not for the purpose of avoiding the provisions of this subchapter;

(i) Bids made by a dealer for his or her own account in the ordinary course of his or her business of buying and selling voting securities; or

(ii) Any other offer from not more than fifty (50) persons to acquire a voting security, or the acquisition of a voting security pursuant to such an offer, for the sole account of the acquiring party, which is made in good faith and not for the purpose of avoiding the provisions of this subchapter;

(9) "Utility service" means: (A) The furnishing and sale of gas to the public for domestic or general service by gas pipelines, distribution companies, or other companies operating within the state; (B) The production, generation, transmission, distribution, delivery, or furnishing of electricity for the production of light, heat, or power to or for the public for compensation; and (C) The conveyance or transmission of messages or communications by telephone where that service is offered to the public for compensation; and

(A) The furnishing and sale of gas to the public for domestic or general service by gas pipelines, distribution companies, or other companies operating within the state;

(B) The production, generation, transmission, distribution, delivery, or furnishing of electricity for the production of light, heat, or power to or for the public for compensation; and

(C) The conveyance or transmission of messages or communications by telephone where that service is offered to the public for compensation; and

(10) "Voting security" means any issued and outstanding stock or indenture of any class presently entitling the owner or holder to vote with respect to the direction or management of the affairs of a company, or any stock or indenture of any class issued under or pursuant to any trust, agreement, or arrangement whereby a trustee or trustees or agent or agents for the owner or holder of the stock or indenture are entitled to vote with respect to the direction or management of the company.

Acts 1985, No. 343, § 1; A.S.A. 1947, § 73-142.1; Acts 1987, No. 954, § 1.
Ark. Code Ann. § 23-79-116 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-116
Execution
Status: in_force

(a) Every insurance policy shall be executed in the name of and on behalf of the insurer by its officer, attorney-in-fact, employee, or representative authorized by the insurer. (b) A facsimile signature of any executing individual may be used in lieu of an original signature. (c) No insurance contract which is otherwise valid shall be rendered invalid by reason of the apparent execution thereof on behalf of the insurer by the imprinted facsimile signature of an individual not authorized so to execute as of the date of the policy. Acts 1959, No. 148, § 282; A.S.A. 1947, § 66-3215.

(a) Every insurance policy shall be executed in the name of and on behalf of the insurer by its officer, attorney-in-fact, employee, or representative authorized by the insurer.

(b) A facsimile signature of any executing individual may be used in lieu of an original signature.

(c) No insurance contract which is otherwise valid shall be rendered invalid by reason of the apparent execution thereof on behalf of the insurer by the imprinted facsimile signature of an individual not authorized so to execute as of the date of the policy.

Acts 1959, No. 148, § 282; A.S.A. 1947, § 66-3215.
Ark. Code Ann. § 23-19-201 — AR Code / Title 23 / Chapter 19 / Subchapter 2 / Section 23-19-201
Title
Status: in_force

This subchapter shall be known and may be cited as the "Arkansas Video Service Act". Added by Act 2013, No. 276,§ 2, eff. 3/6/2013.

This subchapter shall be known and may be cited as the "Arkansas Video Service Act".

Added by Act 2013, No. 276,§ 2, eff. 3/6/2013.
Ark. Code Ann. § 23-67-311 — AR Code / Title 23 / Chapter 67 / Subchapter 3 / Section 23-67-311
Association policies
Status: in_force

Under such rules as shall be adopted by the Insurance Commissioner, and notwithstanding other provisions of this chapter, the commissioner is given the authority in the Arkansas Workers' Compensation Insurance Plan to allow the issuance of group or association workers' compensation insurance policies to logging contractors or dealers as sponsors. The policies may, in turn, insure for workers' compensation and employers' liability purposes no fewer than five (5) independent contractors who provide logging services to the sponsoring contractor or dealer. Provided, however, that such association or group coverage be made available on a nondiscriminatory basis to all other industries if the commissioner rules that the coverage is reasonably applicable to that industry and economically sound with respect to the plan. Amended by Act 2019, No. 315,§ 2676, eff. 7/24/2019. Acts 1993, No. 1269, § 1.

Under such rules as shall be adopted by the Insurance Commissioner, and notwithstanding other provisions of this chapter, the commissioner is given the authority in the Arkansas Workers' Compensation Insurance Plan to allow the issuance of group or association workers' compensation insurance policies to logging contractors or dealers as sponsors. The policies may, in turn, insure for workers' compensation and employers' liability purposes no fewer than five (5) independent contractors who provide logging services to the sponsoring contractor or dealer. Provided, however, that such association or group coverage be made available on a nondiscriminatory basis to all other industries if the commissioner rules that the coverage is reasonably applicable to that industry and economically sound with respect to the plan.

Amended by Act 2019, No. 315,§ 2676, eff. 7/24/2019.

Acts 1993, No. 1269, § 1.
Ark. Code Ann. § 23-18-501 — AR Code / Title 23 / Chapter 18 / Subchapter 5 / Section 23-18-501
Title
Status: in_force

This subchapter shall be known and may be cited as the "Utility Facility Environmental and Economic Protection Act". Acts 1973, No. 164, § 1; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.

This subchapter shall be known and may be cited as the "Utility Facility Environmental and Economic Protection Act".

Acts 1973, No. 164, § 1; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.
Ark. Code Ann. § 23-111-201 — AR Code / Title 23 / Chapter 111 / Subchapter 2 / Section 23-111-201
Jurisdiction of Arkansas Racing Commission
Status: in_force

(a) All references to "commission" in this chapter mean the Arkansas Racing Commission or its successor having jurisdiction over thoroughbred horse racing in this state. (b) In addition to all other duties, powers, and responsibilities conferred upon it by other laws of this state, the commission shall exercise duties, powers, and responsibilities over greyhound racing as authorized in this chapter. Acts 1957, No. 191, § 2; A.S.A. 1947, § 84-2817.

(a) All references to "commission" in this chapter mean the Arkansas Racing Commission or its successor having jurisdiction over thoroughbred horse racing in this state.

(b) In addition to all other duties, powers, and responsibilities conferred upon it by other laws of this state, the commission shall exercise duties, powers, and responsibilities over greyhound racing as authorized in this chapter.

Acts 1957, No. 191, § 2; A.S.A. 1947, § 84-2817.
Ark. Code Ann. § 23-68-131 — AR Code / Title 23 / Chapter 68 / Section 23-68-131
Order and levy of assessment
Status: in_force

(a) (1) Upon the filing and reading of the report and petition provided for in § 23-68-130 , the court, ex parte, may order the Insurance Commissioner to assess all members or subscribers of the insurer who may be subject to the assessment, in such an aggregate amount as the court finds reasonably necessary to pay all valid claims as may be timely filed and proved in the delinquency proceedings, together with the costs and expenses of levying and collecting assessments and the costs and expenses of the delinquency proceedings in full. (2) Any order shall require the commissioner to assess each member or subscriber for his or her proportion of the aggregate assessment, according to such reasonable classification of such members or subscribers and formula as may be made by the commissioner and approved by the court. (b) The court may order additional assessments upon the filing and reading of any amendment or supplement to the report and petition referred to in subsection (a) of this section if the amendment or supplement is filed within three (3) years after the date of the entry of the order of rehabilitation or liquidation. (c) After the entry of the order to levy and assess members or subscribers of an insurer referred to in subsection (a) of this section, the commissioner shall levy and assess members or subscribers in accordance with the order. (d) The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this chapter or pursuant to any other provision of the Arkansas Insurance Code, shall be for no greater amount than that specified in the policy or policies of the member or subscriber and as limited under the Arkansas Insurance Code, except as to any policy which was issued at a rate of premium below the minimum rate lawfully permitted for the risk insured, in which event the assessment against the policyholder shall be upon the basis of the minimum rate for such risk. (e) No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued in accordance with §§ 23-69-125 and 23-70-120 . Acts 1959, No. 148, § 669; A.S.A. 1947, § 66-4832.

(a) (1) Upon the filing and reading of the report and petition provided for in § 23-68-130 , the court, ex parte, may order the Insurance Commissioner to assess all members or subscribers of the insurer who may be subject to the assessment, in such an aggregate amount as the court finds reasonably necessary to pay all valid claims as may be timely filed and proved in the delinquency proceedings, together with the costs and expenses of levying and collecting assessments and the costs and expenses of the delinquency proceedings in full. (2) Any order shall require the commissioner to assess each member or subscriber for his or her proportion of the aggregate assessment, according to such reasonable classification of such members or subscribers and formula as may be made by the commissioner and approved by the court.

(1) Upon the filing and reading of the report and petition provided for in § 23-68-130 , the court, ex parte, may order the Insurance Commissioner to assess all members or subscribers of the insurer who may be subject to the assessment, in such an aggregate amount as the court finds reasonably necessary to pay all valid claims as may be timely filed and proved in the delinquency proceedings, together with the costs and expenses of levying and collecting assessments and the costs and expenses of the delinquency proceedings in full.

(2) Any order shall require the commissioner to assess each member or subscriber for his or her proportion of the aggregate assessment, according to such reasonable classification of such members or subscribers and formula as may be made by the commissioner and approved by the court.

(b) The court may order additional assessments upon the filing and reading of any amendment or supplement to the report and petition referred to in subsection (a) of this section if the amendment or supplement is filed within three (3) years after the date of the entry of the order of rehabilitation or liquidation.

(c) After the entry of the order to levy and assess members or subscribers of an insurer referred to in subsection (a) of this section, the commissioner shall levy and assess members or subscribers in accordance with the order.

(d) The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this chapter or pursuant to any other provision of the Arkansas Insurance Code, shall be for no greater amount than that specified in the policy or policies of the member or subscriber and as limited under the Arkansas Insurance Code, except as to any policy which was issued at a rate of premium below the minimum rate lawfully permitted for the risk insured, in which event the assessment against the policyholder shall be upon the basis of the minimum rate for such risk.

(e) No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued in accordance with §§ 23-69-125 and 23-70-120 .

Acts 1959, No. 148, § 669; A.S.A. 1947, § 66-4832.
Ark. Code Ann. § 23-61-1009 — AR Code / Title 23 / Chapter 61 / Subchapter 10 / Section 23-61-1009
Sunset
Status: in_force

This subchapter shall expire on December 31, 2026. Amended by Act 2021, No. 530,§ 1, eff. on and after January 1, 2022. Amended by Act 2016EX3, No. 13,§ 2, eff. 8/22/2016. Amended by Act 2016EX3, No. 12,§ 2, eff. 8/22/2016. Amended by Act 2016F, No. 3,§ 19, eff. 4/21/2016. Added by Act 2016EX2, No. 2,§ 1, eff. 4/8/2016. Added by Act 2016EX2, No. 1,§ 1, eff. 4/8/2016.

This subchapter shall expire on December 31, 2026.

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

Amended by Act 2016EX3, No. 13,§ 2, eff. 8/22/2016.

Amended by Act 2016EX3, No. 12,§ 2, eff. 8/22/2016.

Amended by Act 2016F, No. 3,§ 19, eff. 4/21/2016.

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

Added by Act 2016EX2, No. 1,§ 1, eff. 4/8/2016.
Ark. Code Ann. § 23-38-102 — AR Code / Title 23 / Chapter 38 / Subchapter 1 / Section 23-38-102
[Repealed]
Status: repealed

Repealed by Act 2013, No. 1144,§ 4, eff. 8/16/2013. Acts 1929, No. 128, §§ 28, 29; 1931, No. 236, § 13; Pope's Dig., §§ 1005, 1006; A.S.A. 1947, §§ 67-842, 67-843; Acts 2005, No. 1994, § 150.

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

Acts 1929, No. 128, §§ 28, 29; 1931, No. 236, § 13; Pope's Dig., §§ 1005, 1006; A.S.A. 1947, §§ 67-842, 67-843; Acts 2005, No. 1994, § 150.
Ark. Code Ann. § 23-86-402 — AR Code / Title 23 / Chapter 86 / Subchapter 4 / Section 23-86-402
Legislative finding
Status: in_force

The General Assembly finds that: (1) Citizens covered by health benefit plans should have the opportunity to obtain healthcare services at an affordable price; (2) The cost of health benefit plans can vary depending upon the kind of arrangement the health benefit plan has with providers of healthcare services; (3) In order to provide affordable delivery of health care services, health benefit plans which utilize contractual arrangements with providers and encourage quality services at discounted prices should be promoted; and (4) Citizens should have the option to choose a health benefit plan that covers the services of any qualified healthcare provider. Acts 1999, No. 1469, § 2.

The General Assembly finds that:

(1) Citizens covered by health benefit plans should have the opportunity to obtain healthcare services at an affordable price;

(2) The cost of health benefit plans can vary depending upon the kind of arrangement the health benefit plan has with providers of healthcare services;

(3) In order to provide affordable delivery of health care services, health benefit plans which utilize contractual arrangements with providers and encourage quality services at discounted prices should be promoted; and

(4) Citizens should have the option to choose a health benefit plan that covers the services of any qualified healthcare provider.

Acts 1999, No. 1469, § 2.
Ark. Code Ann. § 23-18-310 — AR Code / Title 23 / Chapter 18 / Subchapter 3 / Section 23-18-310
Cooperative names
Status: in_force

The words "electric cooperative" shall not be used in the corporate name of corporations organized under the laws of this state, or authorized to do business in this state, other than those organized pursuant to the provisions of this subchapter. Acts 1937, No. 342, § 7; Pope's Dig., § 2321; A.S.A. 1947, § 77-1107.

The words "electric cooperative" shall not be used in the corporate name of corporations organized under the laws of this state, or authorized to do business in this state, other than those organized pursuant to the provisions of this subchapter.

Acts 1937, No. 342, § 7; Pope's Dig., § 2321; A.S.A. 1947, § 77-1107.
Ark. Code Ann. § 23-81-210 — AR Code / Title 23 / Chapter 81 / Subchapter 2 / Section 23-81-210
Calculation of future adjusted premiums
Status: in_force

(a) In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurer based on then estimates of future experience, or in the case of any plan of life insurance which is of such a nature that minimum values cannot be determined by the methods described in §§ 23-81-203 - 23-81-209 : (1) The Insurance Commissioner must be satisfied that the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by §§ 23-81-203 - 23-81-209 ; (2) The commissioner must be satisfied that the benefits and the pattern of premiums of that plan are not such as to mislead prospective policyholders or insureds; and (3) The cash surrender values and paid-up nonforfeiture benefits provided by the plan must not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of this subchapter, as determined by rules promulgated by the commissioner. (b) Notwithstanding any other provision in the laws of the state, any policy, contract, or certificate providing life insurance under any plan must be affirmatively approved by the commissioner before it can be marketed, issued, delivered, or used in this state. Amended by Act 2019, No. 315,§ 2729, eff. 7/24/2019. Acts 1959, No. 148, § 336; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.

(a) In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurer based on then estimates of future experience, or in the case of any plan of life insurance which is of such a nature that minimum values cannot be determined by the methods described in §§ 23-81-203 - 23-81-209 : (1) The Insurance Commissioner must be satisfied that the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by §§ 23-81-203 - 23-81-209 ; (2) The commissioner must be satisfied that the benefits and the pattern of premiums of that plan are not such as to mislead prospective policyholders or insureds; and (3) The cash surrender values and paid-up nonforfeiture benefits provided by the plan must not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of this subchapter, as determined by rules promulgated by the commissioner.

(1) The Insurance Commissioner must be satisfied that the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by §§ 23-81-203 - 23-81-209 ;

(2) The commissioner must be satisfied that the benefits and the pattern of premiums of that plan are not such as to mislead prospective policyholders or insureds; and

(3) The cash surrender values and paid-up nonforfeiture benefits provided by the plan must not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of this subchapter, as determined by rules promulgated by the commissioner.

(b) Notwithstanding any other provision in the laws of the state, any policy, contract, or certificate providing life insurance under any plan must be affirmatively approved by the commissioner before it can be marketed, issued, delivered, or used in this state.

Amended by Act 2019, No. 315,§ 2729, eff. 7/24/2019.

Acts 1959, No. 148, § 336; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.
Ark. Code Ann. § 23-12-1002 — AR Code / Title 23 / Chapter 12 / Subchapter 10 / Section 23-12-1002
Jurisdiction
Status: in_force

The State Highway Commission administers the railroad crossing safety program in Arkansas and has heretofore been designated by the General Assembly as the sole public body to deal with and has been given exclusive jurisdiction concerning the location, construction, improvement, and protection of railroad crossings in Arkansas. It is in the public's interest and safety that uniformity be established in other matters pertaining to the maintenance of railroad crossings and the operation and movement of trains in this state. Acts 1993, No. 726, § 1.

The State Highway Commission administers the railroad crossing safety program in Arkansas and has heretofore been designated by the General Assembly as the sole public body to deal with and has been given exclusive jurisdiction concerning the location, construction, improvement, and protection of railroad crossings in Arkansas. It is in the public's interest and safety that uniformity be established in other matters pertaining to the maintenance of railroad crossings and the operation and movement of trains in this state.

Acts 1993, No. 726, § 1.
Ark. Code Ann. § 23-77-107 — AR Code / Title 23 / Chapter 77 / Section 23-77-107
Certificate of authority - Suspension and revocation
Status: in_force

(a) The Insurance Commissioner shall suspend or revoke the certificate of authority of an automobile club or association: (1) If the action is required by any provision of this section or § 23-77-101 , § 23-77-106 , or § 23-77-108 ; (2) If the automobile club or association no longer meets the requirements for the authority originally granted due to a deficiency in the deposit required by § 23-77-106(d)(1)(A) or the failure to maintain a deposit of securities or other assets acceptable to the commissioner in the amount prescribed by § 23-77-106(d)(1)(A) ; or (3) If the automobile club or association is using such methods or practices in the conduct of its business as to render its further operation in Arkansas hazardous or injurious to the public. (b) The commissioner shall give the automobile club or association at least ten (10) days' written notice in advance of any suspension or revocation under this section. (c) The automobile club or association may request a hearing thereon within the ten (10) days. Acts 1955, No. 377, § 12, as added by Acts 1981, No. 821, § 4; A.S.A. 1947, § 75-1605.1; Acts 2005, No. 506, § 38.

(a) The Insurance Commissioner shall suspend or revoke the certificate of authority of an automobile club or association: (1) If the action is required by any provision of this section or § 23-77-101 , § 23-77-106 , or § 23-77-108 ; (2) If the automobile club or association no longer meets the requirements for the authority originally granted due to a deficiency in the deposit required by § 23-77-106(d)(1)(A) or the failure to maintain a deposit of securities or other assets acceptable to the commissioner in the amount prescribed by § 23-77-106(d)(1)(A) ; or (3) If the automobile club or association is using such methods or practices in the conduct of its business as to render its further operation in Arkansas hazardous or injurious to the public.

(1) If the action is required by any provision of this section or § 23-77-101 , § 23-77-106 , or § 23-77-108 ;

(2) If the automobile club or association no longer meets the requirements for the authority originally granted due to a deficiency in the deposit required by § 23-77-106(d)(1)(A) or the failure to maintain a deposit of securities or other assets acceptable to the commissioner in the amount prescribed by § 23-77-106(d)(1)(A) ; or

(3) If the automobile club or association is using such methods or practices in the conduct of its business as to render its further operation in Arkansas hazardous or injurious to the public.

(b) The commissioner shall give the automobile club or association at least ten (10) days' written notice in advance of any suspension or revocation under this section.

(c) The automobile club or association may request a hearing thereon within the ten (10) days.

Acts 1955, No. 377, § 12, as added by Acts 1981, No. 821, § 4; A.S.A. 1947, § 75-1605.1; Acts 2005, No. 506, § 38.
Ark. Code Ann. § 23-63-1204 — AR Code / Title 23 / Chapter 63 / Subchapter 12 / Section 23-63-1204
[Repealed]
Status: repealed

Repealed by Act 2015, No. 1210,§ 2, eff. 7/22/2015. Acts 1993, No. 166, § 1.

Repealed by Act 2015, No. 1210,§ 2, eff. 7/22/2015.

Acts 1993, No. 166, § 1.
Ark. Code Ann. § 23-63-1104 — AR Code / Title 23 / Chapter 63 / Subchapter 11 / Section 23-63-1104
Applicability
Status: in_force

(a) This subchapter shall apply to licensed insurers as defined in § 23-63-1102 either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. (b) All provisions of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq., to the extent they are not superseded by the provisions of this subchapter, shall continue to apply to all parties within holding company systems subject to the provisions of this subchapter. Acts 1993, No. 526, § 1.

(a) This subchapter shall apply to licensed insurers as defined in § 23-63-1102 either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law.

(b) All provisions of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq., to the extent they are not superseded by the provisions of this subchapter, shall continue to apply to all parties within holding company systems subject to the provisions of this subchapter.

Acts 1993, No. 526, § 1.
Ark. Code Ann. § 23-63-303 — AR Code / Title 23 / Chapter 63 / Subchapter 3 / Section 23-63-303
Resignation of registered agent
Status: in_force

(a) The registered agent of a licensed foreign insurer or a domestic reciprocal insurer may resign his or her agency appointment by signing and delivering to the Insurance Commissioner for filing the original and two (2) exact or conformed copies of a statement of resignation. The statement of resignation may include a statement that the registered office is also discontinued. (b) After filing the statement, the commissioner shall attach the filing receipt to one (1) copy and mail the copy and receipt to the registered office if not discontinued. The commissioner shall mail the other copy to the insurer at its principal office address shown in its most recent annual report. (c) The agency appointment is terminated, and the registered office discontinued if so provided, on the thirty-first day after the date on which the statement was filed. Acts 2001, No. 1604, § 32.

(a) The registered agent of a licensed foreign insurer or a domestic reciprocal insurer may resign his or her agency appointment by signing and delivering to the Insurance Commissioner for filing the original and two (2) exact or conformed copies of a statement of resignation. The statement of resignation may include a statement that the registered office is also discontinued.

(b) After filing the statement, the commissioner shall attach the filing receipt to one (1) copy and mail the copy and receipt to the registered office if not discontinued. The commissioner shall mail the other copy to the insurer at its principal office address shown in its most recent annual report.

(c) The agency appointment is terminated, and the registered office discontinued if so provided, on the thirty-first day after the date on which the statement was filed.

Acts 2001, No. 1604, § 32.
Ark. Code Ann. § 23-15-207 — AR Code / Title 23 / Chapter 15 / Subchapter 2 / Section 23-15-207
Inspections and investigations generally
Status: in_force

(a) (1) The Arkansas Public Service Commission may make inspections and investigations consistent with this subchapter and conduct investigations of pipeline failures whenever needed, and in connection therewith, enter private or public property at all reasonable times. (2) The results of investigations shall be reduced to writing if any enforcement action is contemplated and a copy thereof furnished to the operator of the pipeline facilities or transportation of gas facilities inspected or investigated before any enforcement action is initiated. (b) The commission is authorized to conduct inspections and investigations other than those in § 23-15-206 as may be necessary to aid in the enforcement of the provisions of this subchapter and the standards established pursuant to this subchapter. In doing so, it may obtain possession of any pipe or any part of a pipeline facility for analysis, inspection, or testing. (c) For purposes of enforcement of this subchapter, officers, employees, or agents authorized by the commission, upon presenting appropriate credentials to the individual in charge, are authorized: (1) To enter upon pipeline facilities at reasonable times; and (2) To inspect such facilities at reasonable times and within reasonable limits and in a reasonable manner. (d) Each inspection shall be commenced and completed with reasonable promptness. (e) The commission may furnish the appropriate prosecuting attorney or the Attorney General any information obtained indicating noncompliance with such standards for appropriate action. Acts 1971, No. 285, § 3; A.S.A. 1947, § 73-1910.

(a) (1) The Arkansas Public Service Commission may make inspections and investigations consistent with this subchapter and conduct investigations of pipeline failures whenever needed, and in connection therewith, enter private or public property at all reasonable times. (2) The results of investigations shall be reduced to writing if any enforcement action is contemplated and a copy thereof furnished to the operator of the pipeline facilities or transportation of gas facilities inspected or investigated before any enforcement action is initiated.

(1) The Arkansas Public Service Commission may make inspections and investigations consistent with this subchapter and conduct investigations of pipeline failures whenever needed, and in connection therewith, enter private or public property at all reasonable times.

(2) The results of investigations shall be reduced to writing if any enforcement action is contemplated and a copy thereof furnished to the operator of the pipeline facilities or transportation of gas facilities inspected or investigated before any enforcement action is initiated.

(b) The commission is authorized to conduct inspections and investigations other than those in § 23-15-206 as may be necessary to aid in the enforcement of the provisions of this subchapter and the standards established pursuant to this subchapter. In doing so, it may obtain possession of any pipe or any part of a pipeline facility for analysis, inspection, or testing.

(c) For purposes of enforcement of this subchapter, officers, employees, or agents authorized by the commission, upon presenting appropriate credentials to the individual in charge, are authorized: (1) To enter upon pipeline facilities at reasonable times; and (2) To inspect such facilities at reasonable times and within reasonable limits and in a reasonable manner.

(1) To enter upon pipeline facilities at reasonable times; and

(2) To inspect such facilities at reasonable times and within reasonable limits and in a reasonable manner.

(d) Each inspection shall be commenced and completed with reasonable promptness.

(e) The commission may furnish the appropriate prosecuting attorney or the Attorney General any information obtained indicating noncompliance with such standards for appropriate action.

Acts 1971, No. 285, § 3; A.S.A. 1947, § 73-1910.
Ark. Code Ann. § 23-35-403 — AR Code / Title 23 / Chapter 35 / Subchapter 4 / Section 23-35-403
Meetings - Voting
Status: in_force

(a) The annual meeting and special meetings shall be held at the time, place, and in the manner indicated in the bylaws. (b) At all meetings each member shall have but one (1) vote, irrespective of his or her shareholdings. No member may vote by proxy, but a society or association having membership in the corporation may be represented and vote by one (1) of its members or shareholders, provided that person has been duly authorized by the governing board of the society or association. Acts 1971, No. 132, § 10; A.S.A. 1947, § 67-910.

(a) The annual meeting and special meetings shall be held at the time, place, and in the manner indicated in the bylaws.

(b) At all meetings each member shall have but one (1) vote, irrespective of his or her shareholdings. No member may vote by proxy, but a society or association having membership in the corporation may be represented and vote by one (1) of its members or shareholders, provided that person has been duly authorized by the governing board of the society or association.

Acts 1971, No. 132, § 10; A.S.A. 1947, § 67-910.
Ark. Code Ann. § 23-13-223 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-223
Permits for contract carriers - Application and fees
Status: in_force

(a) Applications for permits for contract carriers by motor vehicles shall be made to the Arkansas Department of Transportation in writing, be verified under oath, and shall be in such form, contain such information, and be accompanied by proof of service upon such interested parties as the department by rule may require. (b) Every application shall be accompanied by a certified check made payable to the department for the sum of fifty dollars ($50.00). The funds shall be collected by the department to be deposited into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund. Amended by Act 2019, No. 315,§ 2425, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 199, eff. 8/1/2017. Acts 1955, No. 397, § 11; 1983, No. 565, § 3; A.S.A. 1947, § 73-1764.

(a) Applications for permits for contract carriers by motor vehicles shall be made to the Arkansas Department of Transportation in writing, be verified under oath, and shall be in such form, contain such information, and be accompanied by proof of service upon such interested parties as the department by rule may require.

(b) Every application shall be accompanied by a certified check made payable to the department for the sum of fifty dollars ($50.00). The funds shall be collected by the department to be deposited into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund.

Amended by Act 2019, No. 315,§ 2425, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 199, eff. 8/1/2017.

Acts 1955, No. 397, § 11; 1983, No. 565, § 3; A.S.A. 1947, § 73-1764.
Ark. Code Ann. § 23-37-316 — AR Code / Title 23 / Chapter 37 / Subchapter 3 / Section 23-37-316
Standards of conduct
Status: in_force

(a) A director of a state-chartered savings and loan association or federal savings bank shall discharge his or her duties as a director, including his or her duties as a member of any committees: (1) In good faith; (2) With the care an ordinary prudent person in a like position would exercise under similar circumstances; and (3) In a manner he or she reasonably believes to be in the best interest of the savings and loan association or federal savings bank. (b) In discharging his or her duties, a director shall be entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by: (1) One (1) or more officers or employees of the savings and loan association whom the director reasonably believes to be reliable and competent in matters presented; (2) Legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the person's professional or expert competence; or (3) A committee of the board of directors of which he or she is not a member, if the director reasonably believes the committee merits confidence. (c) A director is not acting in good faith if the director has knowledge concerning the matter in question that makes reliance on the information or data described in subsection (b) of this section unwarranted. (d) A director is not liable for any action taken as a director, or any failure to take any action, if he or she performed the duties of his or her office in compliance with this section. Acts 1993, No. 990, § 1.

(a) A director of a state-chartered savings and loan association or federal savings bank shall discharge his or her duties as a director, including his or her duties as a member of any committees: (1) In good faith; (2) With the care an ordinary prudent person in a like position would exercise under similar circumstances; and (3) In a manner he or she reasonably believes to be in the best interest of the savings and loan association or federal savings bank.

(1) In good faith;

(2) With the care an ordinary prudent person in a like position would exercise under similar circumstances; and

(3) In a manner he or she reasonably believes to be in the best interest of the savings and loan association or federal savings bank.

(b) In discharging his or her duties, a director shall be entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by: (1) One (1) or more officers or employees of the savings and loan association whom the director reasonably believes to be reliable and competent in matters presented; (2) Legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the person's professional or expert competence; or (3) A committee of the board of directors of which he or she is not a member, if the director reasonably believes the committee merits confidence.

(1) One (1) or more officers or employees of the savings and loan association whom the director reasonably believes to be reliable and competent in matters presented;

(2) Legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the person's professional or expert competence; or

(3) A committee of the board of directors of which he or she is not a member, if the director reasonably believes the committee merits confidence.

(c) A director is not acting in good faith if the director has knowledge concerning the matter in question that makes reliance on the information or data described in subsection (b) of this section unwarranted.

(d) A director is not liable for any action taken as a director, or any failure to take any action, if he or she performed the duties of his or her office in compliance with this section.

Acts 1993, No. 990, § 1.
Ark. Code Ann. § 23-63-1506 — AR Code / Title 23 / Chapter 63 / Subchapter 15 / Section 23-63-1506
Mandatory control level event
Status: in_force

(a) "Mandatory control level event" means any of the following events: (1) The filing of an RBC report that indicates the health organization's total adjusted capital is less than its mandatory control level RBC; (2) The notification by the Insurance Commissioner to the health organization of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 23-63-1507 ; or (3) If under § 23-63-1507 the health organization challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge. (b) In the event of a mandatory control level event, the commissioner shall take the actions as are necessary to place the health organization under regulatory control under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . In that event, the mandatory control level event is deemed sufficient grounds for the commissioner to take action under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 , and the commissioner shall have the rights, powers, and duties with respect to the health organization as are set forth in the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . Notwithstanding any other law, the commissioner may forego action for up to ninety (90) days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated not later than the ninety-day period. Acts 1999, No. 580, § 6; 2011, No. 760, § 5.

(a) "Mandatory control level event" means any of the following events: (1) The filing of an RBC report that indicates the health organization's total adjusted capital is less than its mandatory control level RBC; (2) The notification by the Insurance Commissioner to the health organization of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 23-63-1507 ; or (3) If under § 23-63-1507 the health organization challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge.

(1) The filing of an RBC report that indicates the health organization's total adjusted capital is less than its mandatory control level RBC;

(2) The notification by the Insurance Commissioner to the health organization of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 23-63-1507 ; or

(3) If under § 23-63-1507 the health organization challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge.

(b) In the event of a mandatory control level event, the commissioner shall take the actions as are necessary to place the health organization under regulatory control under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . In that event, the mandatory control level event is deemed sufficient grounds for the commissioner to take action under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 , and the commissioner shall have the rights, powers, and duties with respect to the health organization as are set forth in the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . Notwithstanding any other law, the commissioner may forego action for up to ninety (90) days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated not later than the ninety-day period.

Acts 1999, No. 580, § 6; 2011, No. 760, § 5.
Ark. Code Ann. § 23-2-208 — AR Code / Title 23 / Chapter 2 / Subchapter 2 / Section 23-2-208
[Repealed]
Status: repealed

Repealed by Act 2017, No. 707,§ 92, eff. 8/1/2017. Acts 1957, No. 132, § 7; A.S.A. 1947, § 73-158.

Repealed by Act 2017, No. 707,§ 92, eff. 8/1/2017.

Acts 1957, No. 132, § 7; A.S.A. 1947, § 73-158.
Ark. Code Ann. § 23-42-212 — AR Code / Title 23 / Chapter 42 / Subchapter 2 / Section 23-42-212
Registration or availability of exemption not construed as approval by Securities Commissioner - Inconsistent representation
Status: in_force

(a) (1) Neither the fact that an application for registration, a notice filing, or a registration statement has been filed nor the fact that a person or security is effectively registered constitutes a finding by the Securities Commissioner that any document filed under this chapter is true, complete, and not misleading. (2) Neither any such fact nor the fact that an exemption or exception is available for a security or a transaction means that the commissioner has passed in any way upon the merits or qualifications of, or recommended or given approval to, any person, security, or transaction. (b) It is unlawful to make, or cause to be made, to any prospective purchaser, customer, or client any representation inconsistent with subsection (a) of this section. Acts 1959, No. 254, § 17; A.S.A. 1947, § 67-1251; Acts 1997, No. 173, § 10.

(a) (1) Neither the fact that an application for registration, a notice filing, or a registration statement has been filed nor the fact that a person or security is effectively registered constitutes a finding by the Securities Commissioner that any document filed under this chapter is true, complete, and not misleading. (2) Neither any such fact nor the fact that an exemption or exception is available for a security or a transaction means that the commissioner has passed in any way upon the merits or qualifications of, or recommended or given approval to, any person, security, or transaction.

(1) Neither the fact that an application for registration, a notice filing, or a registration statement has been filed nor the fact that a person or security is effectively registered constitutes a finding by the Securities Commissioner that any document filed under this chapter is true, complete, and not misleading.

(2) Neither any such fact nor the fact that an exemption or exception is available for a security or a transaction means that the commissioner has passed in any way upon the merits or qualifications of, or recommended or given approval to, any person, security, or transaction.

(b) It is unlawful to make, or cause to be made, to any prospective purchaser, customer, or client any representation inconsistent with subsection (a) of this section.

Acts 1959, No. 254, § 17; A.S.A. 1947, § 67-1251; Acts 1997, No. 173, § 10.
Ark. Code Ann. § 23-81-106 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-106
Life insurance - Integrity of contract and alteration of contract provisions
Status: in_force

(a) There shall be a provision that the policy, or the policy and the application therefor if a copy of the application is endorsed upon or attached to the policy when issued, shall constitute the entire contract between the parties and that all statements contained in the application, in the absence of fraud, shall be deemed representations and not warranties. (b) At the option of the insurer, there shall be a provision that no agent shall have the power or authority to waive, change, or alter any of the terms or conditions of any policy, except that at the option of the insurer the terms or conditions may be changed by an endorsement or rider signed by an authorized officer of the insurer. Acts 1959, No. 148, § 314; A.S.A. 1947, § 66-3305.

(a) There shall be a provision that the policy, or the policy and the application therefor if a copy of the application is endorsed upon or attached to the policy when issued, shall constitute the entire contract between the parties and that all statements contained in the application, in the absence of fraud, shall be deemed representations and not warranties.

(b) At the option of the insurer, there shall be a provision that no agent shall have the power or authority to waive, change, or alter any of the terms or conditions of any policy, except that at the option of the insurer the terms or conditions may be changed by an endorsement or rider signed by an authorized officer of the insurer.

Acts 1959, No. 148, § 314; A.S.A. 1947, § 66-3305.
Ark. Code Ann. § 23-110-307 — AR Code / Title 23 / Chapter 110 / Subchapter 3 / Section 23-110-307
Franchise granted prior to July 1, 1957
Status: in_force

(a) Any franchise granted prior to July 1, 1957, to conduct horse racing in this state is validated, and the action of the authority granting the franchise is ratified and confirmed. (b) Whether or not the franchise has been granted for a definite period of time, the holder of such a franchise shall, upon the payment of an additional franchise fee in the amount of ten thousand dollars ($10,000) and the surrender of the franchise now held by it, be granted by the Arkansas Racing Commission a franchise for horse racing in the county covered by the surrendered franchise. This franchise shall continue in effect so long as the holder thereof shall comply with all applicable laws of this state relating to horse racing or until the rights thereunder shall terminate by operation of law making horse racing unlawful in the area covered by the franchise or until the forfeit of the franchise by the holder thereof. Acts 1957, No. 46, § 10; A.S.A. 1947, § 84-2736.

(a) Any franchise granted prior to July 1, 1957, to conduct horse racing in this state is validated, and the action of the authority granting the franchise is ratified and confirmed.

(b) Whether or not the franchise has been granted for a definite period of time, the holder of such a franchise shall, upon the payment of an additional franchise fee in the amount of ten thousand dollars ($10,000) and the surrender of the franchise now held by it, be granted by the Arkansas Racing Commission a franchise for horse racing in the county covered by the surrendered franchise. This franchise shall continue in effect so long as the holder thereof shall comply with all applicable laws of this state relating to horse racing or until the rights thereunder shall terminate by operation of law making horse racing unlawful in the area covered by the franchise or until the forfeit of the franchise by the holder thereof.

Acts 1957, No. 46, § 10; A.S.A. 1947, § 84-2736.
Ark. Code Ann. § 23-51-152 — AR Code / Title 23 / Chapter 51 / Section 23-51-152
Approval of commissioner
Status: in_force

(a) If the Bank Commissioner approves the merger and finds that all required filing fees and investigative costs have been paid, the commissioner shall: (1) Endorse the face of the original and each copy with the date of approval and the word "Approved"; (2) File the original in the State Bank Department's records; and (3) Deliver a certified copy of the articles of merger to each surviving, new, or acquiring entity. (b) A merger is effective on the date of approval, unless the merger agreement provides and the commissioner consents to a different effective date. Acts 1997, No. 940, § 52.

(a) If the Bank Commissioner approves the merger and finds that all required filing fees and investigative costs have been paid, the commissioner shall: (1) Endorse the face of the original and each copy with the date of approval and the word "Approved"; (2) File the original in the State Bank Department's records; and (3) Deliver a certified copy of the articles of merger to each surviving, new, or acquiring entity.

(1) Endorse the face of the original and each copy with the date of approval and the word "Approved";

(2) File the original in the State Bank Department's records; and

(3) Deliver a certified copy of the articles of merger to each surviving, new, or acquiring entity.

(b) A merger is effective on the date of approval, unless the merger agreement provides and the commissioner consents to a different effective date.

Acts 1997, No. 940, § 52.
Ark. Code Ann. § 23-115-803 — AR Code / Title 23 / Chapter 115 / Subchapter 8 / Section 23-115-803
Disposition of funds - Definition
Status: in_force

(a) (1) To effectuate the purposes of the Office of the Arkansas Lottery, the office may borrow moneys from the State of Arkansas or accept and expend moneys from the State of Arkansas and shall repay any sums borrowed from the state as soon as practicable. (2) As used in this section, "purposes" includes without limitation the payment of the initial expenses of initiation, administration, and operation of the office and lotteries. (3) The office shall not issue bonds for any purpose. (b) (1) The office shall be self-sustaining and self-funded. (2) (A) Except as provided in subsection (a) of this section, moneys in the General Revenue Fund Account of the State Apportionment Fund shall not be used or obligated to pay the expenses of the office or prizes of a lottery. (B) A claim for the payment of an expense of a lottery or prizes of a lottery shall not be made against any moneys other than moneys credited to the office's operating account. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) (1) To effectuate the purposes of the Office of the Arkansas Lottery, the office may borrow moneys from the State of Arkansas or accept and expend moneys from the State of Arkansas and shall repay any sums borrowed from the state as soon as practicable. (2) As used in this section, "purposes" includes without limitation the payment of the initial expenses of initiation, administration, and operation of the office and lotteries. (3) The office shall not issue bonds for any purpose.

(1) To effectuate the purposes of the Office of the Arkansas Lottery, the office may borrow moneys from the State of Arkansas or accept and expend moneys from the State of Arkansas and shall repay any sums borrowed from the state as soon as practicable.

(2) As used in this section, "purposes" includes without limitation the payment of the initial expenses of initiation, administration, and operation of the office and lotteries.

(3) The office shall not issue bonds for any purpose.

(b) (1) The office shall be self-sustaining and self-funded. (2) (A) Except as provided in subsection (a) of this section, moneys in the General Revenue Fund Account of the State Apportionment Fund shall not be used or obligated to pay the expenses of the office or prizes of a lottery. (B) A claim for the payment of an expense of a lottery or prizes of a lottery shall not be made against any moneys other than moneys credited to the office's operating account.

(1) The office shall be self-sustaining and self-funded.

(2) (A) Except as provided in subsection (a) of this section, moneys in the General Revenue Fund Account of the State Apportionment Fund shall not be used or obligated to pay the expenses of the office or prizes of a lottery. (B) A claim for the payment of an expense of a lottery or prizes of a lottery shall not be made against any moneys other than moneys credited to the office's operating account.

(A) Except as provided in subsection (a) of this section, moneys in the General Revenue Fund Account of the State Apportionment Fund shall not be used or obligated to pay the expenses of the office or prizes of a lottery.

(B) A claim for the payment of an expense of a lottery or prizes of a lottery shall not be made against any moneys other than moneys credited to the office's operating account.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-17-108 — AR Code / Title 23 / Chapter 17 / Subchapter 1 / Section 23-17-108
Refusal to transmit message - Penalty
Status: in_force

Every telegraph and telephone company doing business in this state, under a penalty of five hundred dollars ($500) for each and every refusal to do so, must transmit over its wires to localities on its lines for any individual, corporation, or other telegraph or telephone company such messages, dispatches, or correspondence as may be tendered to it by, or to be transmitted to, any individual, corporation, or other telegraph or telephone companies at the price customarily asked and obtained for the transmission of similar messages, dispatches, or correspondence without discrimination as to charges or promptness. The penalty prescribed in this section shall be recoverable in any court through proper form of law, one-half (1/2) of which shall go to the prosecutor and one-half (1/2) to the state. Acts 1885, No. 107, § 10, p. 176; C. & M. Dig., § 10247; Pope's Dig., § 14256; A.S.A. 1947, § 73-1811.

Every telegraph and telephone company doing business in this state, under a penalty of five hundred dollars ($500) for each and every refusal to do so, must transmit over its wires to localities on its lines for any individual, corporation, or other telegraph or telephone company such messages, dispatches, or correspondence as may be tendered to it by, or to be transmitted to, any individual, corporation, or other telegraph or telephone companies at the price customarily asked and obtained for the transmission of similar messages, dispatches, or correspondence without discrimination as to charges or promptness. The penalty prescribed in this section shall be recoverable in any court through proper form of law, one-half (1/2) of which shall go to the prosecutor and one-half (1/2) to the state.

Acts 1885, No. 107, § 10, p. 176; C. & M. Dig., § 10247; Pope's Dig., § 14256; A.S.A. 1947, § 73-1811.
Ark. Code Ann. § 23-11-303 — AR Code / Title 23 / Chapter 11 / Subchapter 3 / Section 23-11-303
Construction, purchase, or lease of railroad in adjoining state authorized
Status: in_force

Any railway company which may have built its road to the boundary line of the state may extend into the adjoining state and for that purpose may build, buy, or lease a railroad in the adjoining state and operate the railroad. The company may own such real estate and other property in the adjoining state as may be convenient in operating the road. Acts 1881, No. 43, § 2, p. 79; C. & M. Dig., § 8514; Pope's Dig., § 11090; A.S.A. 1947, § 73-414.

Any railway company which may have built its road to the boundary line of the state may extend into the adjoining state and for that purpose may build, buy, or lease a railroad in the adjoining state and operate the railroad. The company may own such real estate and other property in the adjoining state as may be convenient in operating the road.

Acts 1881, No. 43, § 2, p. 79; C. & M. Dig., § 8514; Pope's Dig., § 11090; A.S.A. 1947, § 73-414.
Ark. Code Ann. § 23-38-304 — AR Code / Title 23 / Chapter 38 / Subchapter 3 / Section 23-38-304
[Repealed]
Status: repealed

Repealed by Act 2013, No. 1144,§ 4, eff. 8/16/2013. Acts 1929, No. 128, § 24; 1931, No. 236, § 11; Pope's Dig., § 1000; Acts 1985, No. 1043, § 1; A.S.A. 1947, § 67-850.

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

Acts 1929, No. 128, § 24; 1931, No. 236, § 11; Pope's Dig., § 1000; Acts 1985, No. 1043, § 1; A.S.A. 1947, § 67-850.
Ark. Code Ann. § 23-66-311 — AR Code / Title 23 / Chapter 66 / Subchapter 3 / Section 23-66-311
Business development compensation to life policyholders
Status: in_force

No life insurer shall discriminate between its policyholders by allowing, or agreeing to allow, to any policyholder, whether as an individual or as a member of a class, a portion or percent of any premium collected by the insurer from any policyholder on the pretense of making the policyholder an agent of the insurer or otherwise, unless that policyholder regularly qualifies and is licensed as an agent of the insurer, and is instrumental in actually securing business for the insurer, as evidenced by his or her name appearing on the application or applications of other policyholders, as soliciting agent, and his or her compensation for the services is limited to a reasonable commission on the business thus secured by the insurer through his or her instrumentality. Acts 1959, No. 148, § 225; A.S.A. 1947, § 66-3018.

No life insurer shall discriminate between its policyholders by allowing, or agreeing to allow, to any policyholder, whether as an individual or as a member of a class, a portion or percent of any premium collected by the insurer from any policyholder on the pretense of making the policyholder an agent of the insurer or otherwise, unless that policyholder regularly qualifies and is licensed as an agent of the insurer, and is instrumental in actually securing business for the insurer, as evidenced by his or her name appearing on the application or applications of other policyholders, as soliciting agent, and his or her compensation for the services is limited to a reasonable commission on the business thus secured by the insurer through his or her instrumentality.

Acts 1959, No. 148, § 225; A.S.A. 1947, § 66-3018.
Ark. Code Ann. § 23-115-409 — AR Code / Title 23 / Chapter 115 / Subchapter 4 / Section 23-115-409
Laws under other wagering chapters not affected
Status: in_force

This chapter does not alter wagering that may be conducted under the Arkansas Horse Racing Law, § 23-110-101 et seq., the Arkansas Greyhound Racing Law, § 23-111-101 et seq., or the Local Option Horse Racing and Greyhound Racing Electronic Games of Skill Act, § 23-113-101 et seq. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 1405, § 38.

This chapter does not alter wagering that may be conducted under the Arkansas Horse Racing Law, § 23-110-101 et seq., the Arkansas Greyhound Racing Law, § 23-111-101 et seq., or the Local Option Horse Racing and Greyhound Racing Electronic Games of Skill Act, § 23-113-101 et seq.

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

Acts 2009, No. 1405, § 38.
Ark. Code Ann. § 23-15-201 — AR Code / Title 23 / Chapter 15 / Subchapter 2 / Section 23-15-201
Title
Status: in_force

This subchapter may be cited as the "Arkansas Natural Gas Pipeline Safety Act of 1971". Acts 1971, No. 285, § 1; A.S.A. 1947, § 73-1908.

This subchapter may be cited as the "Arkansas Natural Gas Pipeline Safety Act of 1971".

Acts 1971, No. 285, § 1; A.S.A. 1947, § 73-1908.
Ark. Code Ann. § 23-48-321 — AR Code / Title 23 / Chapter 48 / Subchapter 3 / Section 23-48-321
Closing transfer books - Fixing record date
Status: in_force

(a) For the purpose of determining stockholders entitled to notice of, or to vote at, any annual or special meeting of stockholders or any adjournment thereof, or entitled to receive payment of any dividend, the board of directors of a state bank may provide that the stock transfer books shall be closed for a stated period but not to exceed, in any case, seventy (70) days before the date of the meeting. (b) In lieu of closing the stock transfer books, the board of directors may fix a date in advance of the meeting as the record date for any such determination of stockholders. The date in any case may not be more than seventy (70) days prior to the date on which the meeting is to be held. (c) If the stock transfer books are not closed and no record date is fixed for the determination of stockholders entitled to notice of, or to vote at, a meeting of stockholders, or stockholders entitled to receive payment of a dividend, the date on which notice of the meeting is mailed or the date on which the resolution of the board of directors declaring the dividend is adopted, as the case may be, shall be the record date for the determination of stockholders. (d) When a determination of stockholders entitled to vote at any meeting of stockholders has been made as provided in this section, the determination shall apply to any adjournment thereof. Acts 1997, No. 89, § 1.

(a) For the purpose of determining stockholders entitled to notice of, or to vote at, any annual or special meeting of stockholders or any adjournment thereof, or entitled to receive payment of any dividend, the board of directors of a state bank may provide that the stock transfer books shall be closed for a stated period but not to exceed, in any case, seventy (70) days before the date of the meeting.

(b) In lieu of closing the stock transfer books, the board of directors may fix a date in advance of the meeting as the record date for any such determination of stockholders. The date in any case may not be more than seventy (70) days prior to the date on which the meeting is to be held.

(c) If the stock transfer books are not closed and no record date is fixed for the determination of stockholders entitled to notice of, or to vote at, a meeting of stockholders, or stockholders entitled to receive payment of a dividend, the date on which notice of the meeting is mailed or the date on which the resolution of the board of directors declaring the dividend is adopted, as the case may be, shall be the record date for the determination of stockholders.

(d) When a determination of stockholders entitled to vote at any meeting of stockholders has been made as provided in this section, the determination shall apply to any adjournment thereof.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-17-240 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-240
Unclaimed capital credits and stock
Status: in_force

(a) When a cooperative formed under this subchapter declares capital credits and any capital credit which remains unclaimed one (1) year after notice of the capital credit was transmitted to the last known address of the beneficiary of the credit: (1) The cooperative shall not be liable for the credit; and (2) The credit shall not be deemed unclaimed or abandoned property under § 18-28-201 et seq. (b) (1) When a cooperative formed under this subchapter has issued shares of stock and subsequent to that time has declared by providing notice to all shareholders of record that the cooperative is redeeming the stock by repurchase, then one (1) year after the notice has been sent to the last known address of all shareholders of record: (A) The cooperative shall not be liable for the redemption or repurchase value of the stock; and (B) The stock not redeemed and repurchased shall have no value or rights in the cooperative. (2) The stock shall not be deemed unclaimed or abandoned property under § 18-28-201 et seq. (c) References in the Rural Telecommunications Cooperative Act, § 23-17-201 et seq., to "this subchapter" and references in § 23-17-101 et seq. to "this chapter" shall be deemed to also reference this section. Acts 1995, No. 898, § 1; 1999, No. 946, § 17; 2009, No. 761, § 2.

(a) When a cooperative formed under this subchapter declares capital credits and any capital credit which remains unclaimed one (1) year after notice of the capital credit was transmitted to the last known address of the beneficiary of the credit: (1) The cooperative shall not be liable for the credit; and (2) The credit shall not be deemed unclaimed or abandoned property under § 18-28-201 et seq.

(1) The cooperative shall not be liable for the credit; and

(2) The credit shall not be deemed unclaimed or abandoned property under § 18-28-201 et seq.

(b) (1) When a cooperative formed under this subchapter has issued shares of stock and subsequent to that time has declared by providing notice to all shareholders of record that the cooperative is redeeming the stock by repurchase, then one (1) year after the notice has been sent to the last known address of all shareholders of record: (A) The cooperative shall not be liable for the redemption or repurchase value of the stock; and (B) The stock not redeemed and repurchased shall have no value or rights in the cooperative. (2) The stock shall not be deemed unclaimed or abandoned property under § 18-28-201 et seq.

(1) When a cooperative formed under this subchapter has issued shares of stock and subsequent to that time has declared by providing notice to all shareholders of record that the cooperative is redeeming the stock by repurchase, then one (1) year after the notice has been sent to the last known address of all shareholders of record: (A) The cooperative shall not be liable for the redemption or repurchase value of the stock; and (B) The stock not redeemed and repurchased shall have no value or rights in the cooperative.

(A) The cooperative shall not be liable for the redemption or repurchase value of the stock; and

(B) The stock not redeemed and repurchased shall have no value or rights in the cooperative.

(2) The stock shall not be deemed unclaimed or abandoned property under § 18-28-201 et seq.

(c) References in the Rural Telecommunications Cooperative Act, § 23-17-201 et seq., to "this subchapter" and references in § 23-17-101 et seq. to "this chapter" shall be deemed to also reference this section.

Acts 1995, No. 898, § 1; 1999, No. 946, § 17; 2009, No. 761, § 2.
Ark. Code Ann. § 23-86-310 — AR Code / Title 23 / Chapter 86 / Subchapter 3 / Section 23-86-310
Excepted benefits - Definition
Status: in_force

For purposes of this section, the term "excepted benefits" means benefits under one (1) or more, or any combination thereof, of the following: (1) Benefits not subject to requirements: (A) Coverage only for accident or disability income insurance, or any combination thereof; (B) Coverage issued as a supplement to liability insurance; (C) Liability insurance, including general liability insurance and automobile liability insurance; (D) Workers' compensation or similar insurance; (E) Automobile medical payment insurance; (F) Credit-only insurance; (G) Coverage for on-site medical clinics; (H) Other similar insurance coverage, specified in regulations, under which benefits for medical care are secondary or incidental to other insurance benefits; (2) Benefits not subject to requirements if offered separately: (A) Limited scope dental or vision benefits; (B) Benefits for long-term care, nursing home care, home health care, community-based care, or any combination thereof; (C) Such other similar, limited benefits as specified in rules; (3) Benefits not subject to requirements if offered as independent, noncoordinated benefits: (A) Coverage only for a specified disease or illness; and (B) Hospital indemnity or other fixed indemnity insurance; and (4) Benefits not subject to requirements if offered as a separate insurance policy. Medicare supplemental health insurance as defined under section 1882(g)(1) of the Social Security Act, coverage supplemental to the coverage provided under United States Code Title 10, Chapter 55, and similar supplemental coverage provided to coverage under a group health plan. Amended by Act 2019, No. 315,§ 2748, eff. 7/24/2019. Acts 1997, No. 997, § 1.

For purposes of this section, the term "excepted benefits" means benefits under one (1) or more, or any combination thereof, of the following:

(1) Benefits not subject to requirements: (A) Coverage only for accident or disability income insurance, or any combination thereof; (B) Coverage issued as a supplement to liability insurance; (C) Liability insurance, including general liability insurance and automobile liability insurance; (D) Workers' compensation or similar insurance; (E) Automobile medical payment insurance; (F) Credit-only insurance; (G) Coverage for on-site medical clinics; (H) Other similar insurance coverage, specified in regulations, under which benefits for medical care are secondary or incidental to other insurance benefits;

(A) Coverage only for accident or disability income insurance, or any combination thereof;

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

(C) Liability insurance, including general liability insurance and automobile liability insurance;

(D) Workers' compensation or similar insurance;

(E) Automobile medical payment insurance;

(F) Credit-only insurance;

(G) Coverage for on-site medical clinics;

(H) Other similar insurance coverage, specified in regulations, under which benefits for medical care are secondary or incidental to other insurance benefits;

(2) Benefits not subject to requirements if offered separately: (A) Limited scope dental or vision benefits; (B) Benefits for long-term care, nursing home care, home health care, community-based care, or any combination thereof; (C) Such other similar, limited benefits as specified in rules;

(A) Limited scope dental or vision benefits;

(B) Benefits for long-term care, nursing home care, home health care, community-based care, or any combination thereof;

(C) Such other similar, limited benefits as specified in rules;

(3) Benefits not subject to requirements if offered as independent, noncoordinated benefits: (A) Coverage only for a specified disease or illness; and (B) Hospital indemnity or other fixed indemnity insurance; and

(A) Coverage only for a specified disease or illness; and

(B) Hospital indemnity or other fixed indemnity insurance; and

(4) Benefits not subject to requirements if offered as a separate insurance policy. Medicare supplemental health insurance as defined under section 1882(g)(1) of the Social Security Act, coverage supplemental to the coverage provided under United States Code Title 10, Chapter 55, and similar supplemental coverage provided to coverage under a group health plan.

Amended by Act 2019, No. 315,§ 2748, eff. 7/24/2019.

Acts 1997, No. 997, § 1.
Ark. Code Ann. § 23-10-419 — AR Code / Title 23 / Chapter 10 / Subchapter 4 / Section 23-10-419
Delivery of freight
Status: in_force

(a) Railroad companies shall deliver freight at their depots or warehouses or, in cases of shipments for track delivery, shall place loaded cars at an accessible place for unloading within twenty-four (24) hours after arrival, computing from 7:00 a.m. of the day following arrival of the cars. However, carload shipments for track delivery at local stations having not more than one (1) team track shall be placed at an accessible point for unloading by the conductor of the train on which the car arrives. (b) The shipper or consignee shall be paid five dollars ($5.00) per car per day for each day or fraction of a day the delivery is so delayed. Acts 1907, No. 193, § 4, p. 453; C. & M. Dig., § 898; Pope's Dig., § 1102; A.S.A. 1947, § 73-1313.

(a) Railroad companies shall deliver freight at their depots or warehouses or, in cases of shipments for track delivery, shall place loaded cars at an accessible place for unloading within twenty-four (24) hours after arrival, computing from 7:00 a.m. of the day following arrival of the cars. However, carload shipments for track delivery at local stations having not more than one (1) team track shall be placed at an accessible point for unloading by the conductor of the train on which the car arrives.

(b) The shipper or consignee shall be paid five dollars ($5.00) per car per day for each day or fraction of a day the delivery is so delayed.

Acts 1907, No. 193, § 4, p. 453; C. & M. Dig., § 898; Pope's Dig., § 1102; A.S.A. 1947, § 73-1313.
Ark. Code Ann. § 23-47-507 — AR Code / Title 23 / Chapter 47 / Subchapter 5 / Section 23-47-507
Power to hold and sell collateral
Status: in_force

(a) A state bank may hold and sell all kinds of property that may come into its possession as collateral security for loans or any ordinary collection of debts in the manner provided by law. (b) Any personal property coming into its possession in this manner and which is not otherwise authorized for state banks to own as an asset shall be disposed of as soon as possible and after twelve (12) months from the date of acquisition shall cease to be considered as a part of its assets. Acts 1997, No. 89, § 1.

(a) A state bank may hold and sell all kinds of property that may come into its possession as collateral security for loans or any ordinary collection of debts in the manner provided by law.

(b) Any personal property coming into its possession in this manner and which is not otherwise authorized for state banks to own as an asset shall be disposed of as soon as possible and after twelve (12) months from the date of acquisition shall cease to be considered as a part of its assets.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-40-106 — AR Code / Title 23 / Chapter 40 / Section 23-40-106
Violations - Penalties
Status: in_force

(a) (1) An officer, director, agent, or employee of an organization subject to this chapter who makes, or attempts to make, a contract in violation of this chapter, or refuses to allow an inspection of the organization's records shall be punished by a fine of not less than one thousand dollars ($1,000) and not more than ten thousand dollars ($10,000), or by imprisonment in the county jail for at least six (6) months and not more than twelve (12) months, or by both fine and imprisonment. (2) (A) An officer, director, agent, or employee of an organization is guilty of a Class D felony if the officer, director, agent, or employee: (i) Collects contract proceeds on cash-funded prepaid funeral contracts and fails to deposit the proceeds with a trustee as required under § 23-40-114 ; or (ii) Collects proceeds on insurance-funded or annuity-funded contracts, or both, and fails to forward the proceeds to the insurance company or the third-party administrator within twenty (20) business days. (B) A person convicted of a violation of § 23-40-114 shall be ordered to pay restitution to persons aggrieved by the violation. (C) Restitution shall be ordered in addition to a fine or imprisonment. (b) Each violation of any provision of this chapter shall be deemed a separate offense and prosecuted individually. (c) The Criminal Investigation Division shall have jurisdiction to investigate and prosecute any officer, director, agent, or employee of any organization who collects contract proceeds on cash-funded prepaid funeral contracts and fails to deposit such funds with a trustee as required under § 23-40-114 . Amended by Act 2017, No. 283,§ 1, eff. 8/1/2017. Acts 1985, No. 156, § 13; A.S.A. 1947, § 67-1725; Acts 1999, No. 1249, § 3; 2001, No. 1043, § 1.

(a) (1) An officer, director, agent, or employee of an organization subject to this chapter who makes, or attempts to make, a contract in violation of this chapter, or refuses to allow an inspection of the organization's records shall be punished by a fine of not less than one thousand dollars ($1,000) and not more than ten thousand dollars ($10,000), or by imprisonment in the county jail for at least six (6) months and not more than twelve (12) months, or by both fine and imprisonment. (2) (A) An officer, director, agent, or employee of an organization is guilty of a Class D felony if the officer, director, agent, or employee: (i) Collects contract proceeds on cash-funded prepaid funeral contracts and fails to deposit the proceeds with a trustee as required under § 23-40-114 ; or (ii) Collects proceeds on insurance-funded or annuity-funded contracts, or both, and fails to forward the proceeds to the insurance company or the third-party administrator within twenty (20) business days. (B) A person convicted of a violation of § 23-40-114 shall be ordered to pay restitution to persons aggrieved by the violation. (C) Restitution shall be ordered in addition to a fine or imprisonment.

(1) An officer, director, agent, or employee of an organization subject to this chapter who makes, or attempts to make, a contract in violation of this chapter, or refuses to allow an inspection of the organization's records shall be punished by a fine of not less than one thousand dollars ($1,000) and not more than ten thousand dollars ($10,000), or by imprisonment in the county jail for at least six (6) months and not more than twelve (12) months, or by both fine and imprisonment.

(2) (A) An officer, director, agent, or employee of an organization is guilty of a Class D felony if the officer, director, agent, or employee: (i) Collects contract proceeds on cash-funded prepaid funeral contracts and fails to deposit the proceeds with a trustee as required under § 23-40-114 ; or (ii) Collects proceeds on insurance-funded or annuity-funded contracts, or both, and fails to forward the proceeds to the insurance company or the third-party administrator within twenty (20) business days. (B) A person convicted of a violation of § 23-40-114 shall be ordered to pay restitution to persons aggrieved by the violation. (C) Restitution shall be ordered in addition to a fine or imprisonment.

(A) An officer, director, agent, or employee of an organization is guilty of a Class D felony if the officer, director, agent, or employee: (i) Collects contract proceeds on cash-funded prepaid funeral contracts and fails to deposit the proceeds with a trustee as required under § 23-40-114 ; or (ii) Collects proceeds on insurance-funded or annuity-funded contracts, or both, and fails to forward the proceeds to the insurance company or the third-party administrator within twenty (20) business days.

(i) Collects contract proceeds on cash-funded prepaid funeral contracts and fails to deposit the proceeds with a trustee as required under § 23-40-114 ; or

(ii) Collects proceeds on insurance-funded or annuity-funded contracts, or both, and fails to forward the proceeds to the insurance company or the third-party administrator within twenty (20) business days.

(B) A person convicted of a violation of § 23-40-114 shall be ordered to pay restitution to persons aggrieved by the violation.

(C) Restitution shall be ordered in addition to a fine or imprisonment.

(b) Each violation of any provision of this chapter shall be deemed a separate offense and prosecuted individually.

(c) The Criminal Investigation Division shall have jurisdiction to investigate and prosecute any officer, director, agent, or employee of any organization who collects contract proceeds on cash-funded prepaid funeral contracts and fails to deposit such funds with a trustee as required under § 23-40-114 .

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

Acts 1985, No. 156, § 13; A.S.A. 1947, § 67-1725; Acts 1999, No. 1249, § 3; 2001, No. 1043, § 1.
Ark. Code Ann. § 23-80-304 — AR Code / Title 23 / Chapter 80 / Subchapter 3 / Section 23-80-304
Applicability
Status: in_force

(a) This subchapter shall apply to all policies with effective dates on or after the implementation date established for policies under § 23-80-306(b) . (b) No other statute of this state setting simplification standards for language or format shall apply to any policy. (c) This subchapter shall not apply to policies in manuscript form or to the following kinds of insurance: (1) Ocean marine; (2) Surety and financial institution bonds; (3) Reinsurance; or (4) Commercial aviation. (d) Any non-English language policy shall be deemed in compliance with § 23-80-306(a) if it was translated from an English language policy which complies with § 23-80-306(a) . Acts 1981, No. 517, § 4; A.S.A. 1947, § 66-5804.

(a) This subchapter shall apply to all policies with effective dates on or after the implementation date established for policies under § 23-80-306(b) .

(b) No other statute of this state setting simplification standards for language or format shall apply to any policy.

(c) This subchapter shall not apply to policies in manuscript form or to the following kinds of insurance: (1) Ocean marine; (2) Surety and financial institution bonds; (3) Reinsurance; or (4) Commercial aviation.

(1) Ocean marine;

(2) Surety and financial institution bonds;

(3) Reinsurance; or

(4) Commercial aviation.

(d) Any non-English language policy shall be deemed in compliance with § 23-80-306(a) if it was translated from an English language policy which complies with § 23-80-306(a) .

Acts 1981, No. 517, § 4; A.S.A. 1947, § 66-5804.
Ark. Code Ann. § 23-86-301 — AR Code / Title 23 / Chapter 86 / Subchapter 3 / Section 23-86-301
Title
Status: in_force

This subchapter may be cited as the "Arkansas Health Insurance Portability and Accountability Act of 1997". Acts 1997, No. 997, § 1.

This subchapter may be cited as the "Arkansas Health Insurance Portability and Accountability Act of 1997".

Acts 1997, No. 997, § 1.
Ark. Code Ann. § 23-32-208 — AR Code / Title 23 / Chapter 32 / Subchapter 2 / Section 23-32-208
Sharing of customer-bank communication terminals
Status: in_force

(a) (1) An agreement to share a customer-bank communication terminal, as defined by § 23-32-1301(2) [repealed], shall not prohibit, limit, or restrict the right of a financial institution from charging a customer-bank communication terminal usage fee. (2) The usage fee shall not exceed two dollars ($2.00) or two percent (2%) of the gross amount of the transaction, whichever is less, and may only be imposed if imposition of the fee is disclosed at a time and in a manner that allows a user to terminate or cancel the transaction without incurring the usage fee. (b) (1) For purposes of this section, "usage fee" is a fee charged by a customer-bank communication terminal owner on transactions by a holder of a foreign bank card. (2) For purposes of this section, a "foreign bank card" is a card eligible for use in a customer-bank communication terminal, which card is not issued by the customer-bank communication terminal owner. Acts 1997, No. 86, § 1.

(a) (1) An agreement to share a customer-bank communication terminal, as defined by § 23-32-1301(2) [repealed], shall not prohibit, limit, or restrict the right of a financial institution from charging a customer-bank communication terminal usage fee. (2) The usage fee shall not exceed two dollars ($2.00) or two percent (2%) of the gross amount of the transaction, whichever is less, and may only be imposed if imposition of the fee is disclosed at a time and in a manner that allows a user to terminate or cancel the transaction without incurring the usage fee.

(1) An agreement to share a customer-bank communication terminal, as defined by § 23-32-1301(2) [repealed], shall not prohibit, limit, or restrict the right of a financial institution from charging a customer-bank communication terminal usage fee.

(2) The usage fee shall not exceed two dollars ($2.00) or two percent (2%) of the gross amount of the transaction, whichever is less, and may only be imposed if imposition of the fee is disclosed at a time and in a manner that allows a user to terminate or cancel the transaction without incurring the usage fee.

(b) (1) For purposes of this section, "usage fee" is a fee charged by a customer-bank communication terminal owner on transactions by a holder of a foreign bank card. (2) For purposes of this section, a "foreign bank card" is a card eligible for use in a customer-bank communication terminal, which card is not issued by the customer-bank communication terminal owner.

(1) For purposes of this section, "usage fee" is a fee charged by a customer-bank communication terminal owner on transactions by a holder of a foreign bank card.

(2) For purposes of this section, a "foreign bank card" is a card eligible for use in a customer-bank communication terminal, which card is not issued by the customer-bank communication terminal owner.

Acts 1997, No. 86, § 1.
Ark. Code Ann. § 23-4-406 — AR Code / Title 23 / Chapter 4 / Subchapter 4 / Section 23-4-406
Test periods to justify new rates
Status: in_force

For the purpose of justifying the reasonableness of a proposed new rate schedule, a utility may utilize either a historical test period of twelve (12) consecutive calendar months or a forward-looking test period of twelve (12) consecutive calendar months consisting of six (6) months of actual historical data derived from the books and records of the utility and six (6) months of projected data which together shall be the period or test year upon which fair and reasonable rates shall be determined by the Arkansas Public Service Commission. However, the commission shall also permit adjustments to any test year so utilized to reflect the effects on an annualized basis of any and all changes in circumstances which may occur within twelve (12) months after the end of the test year where such changes are both reasonably known and measurable. Acts 1981 (Ex. Sess.), No. 30, § 4; A.S.A. 1947, § 73-217.5.

For the purpose of justifying the reasonableness of a proposed new rate schedule, a utility may utilize either a historical test period of twelve (12) consecutive calendar months or a forward-looking test period of twelve (12) consecutive calendar months consisting of six (6) months of actual historical data derived from the books and records of the utility and six (6) months of projected data which together shall be the period or test year upon which fair and reasonable rates shall be determined by the Arkansas Public Service Commission. However, the commission shall also permit adjustments to any test year so utilized to reflect the effects on an annualized basis of any and all changes in circumstances which may occur within twelve (12) months after the end of the test year where such changes are both reasonably known and measurable.

Acts 1981 (Ex. Sess.), No. 30, § 4; A.S.A. 1947, § 73-217.5.
Ark. Code Ann. § 23-47-510 — AR Code / Title 23 / Chapter 47 / Subchapter 5 / Section 23-47-510
Casualty insurance - Replacement cost coverage
Status: in_force

(a) A state bank, when making a mortgage loan, may not require, as a condition or term of the mortgage, that the mortgagor purchase casualty insurance on property which is the subject of the mortgage in an amount in excess of the fair market value of the buildings or appurtenances on the mortgaged premises. (b) This section shall not be construed as limiting the right of the mortgagor to purchase replacement cost coverage on the property which is the subject of the mortgage. Acts 1997, No. 89, § 1.

(a) A state bank, when making a mortgage loan, may not require, as a condition or term of the mortgage, that the mortgagor purchase casualty insurance on property which is the subject of the mortgage in an amount in excess of the fair market value of the buildings or appurtenances on the mortgaged premises.

(b) This section shall not be construed as limiting the right of the mortgagor to purchase replacement cost coverage on the property which is the subject of the mortgage.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-110-301 — AR Code / Title 23 / Chapter 110 / Subchapter 3 / Section 23-110-301
Horse racing permitted - Limitations
Status: in_force

(a) (1) Horse racing may be conducted in all political subdivisions of the State of Arkansas, in addition to the City of Hot Springs, Garland County, Arkansas, where horse racing has been made lawful by Arkansas Constitution, Amendment 46, but only by the holder of a franchise granted by the Arkansas Racing Commission. (2) The commission may grant a franchise only to a corporation organized under the laws of this state. (b) (1) Franchises may not be granted by the commission to individuals, partnerships, associations, trusts, or to any others except corporations as provided in this section. (2) However, in the event that the limitations contained in subdivision (b)(1) of this section are declared unconstitutional, then the commission may grant franchises to individuals, partnerships, associations, trusts, and corporations. (c) Wherever the word "corporation" shall appear in this chapter, it shall be deemed to include the enumeration in subdivision (b)(2) of this section in the event of any declaration of unconstitutionality. (d) The commission may not grant more than one (1) franchise for conducting horse racing meets in a single county. (e) No franchise or temporary franchise shall be granted whenever the cost of the plant proposed to be constructed, including lands, buildings, facilities, and equipment, shall be less than three million dollars ($3,000,000). Acts 1957, No. 46, §§ 9, 11; A.S.A. 1947, §§ 84-2735, 84-2737.

(a) (1) Horse racing may be conducted in all political subdivisions of the State of Arkansas, in addition to the City of Hot Springs, Garland County, Arkansas, where horse racing has been made lawful by Arkansas Constitution, Amendment 46, but only by the holder of a franchise granted by the Arkansas Racing Commission. (2) The commission may grant a franchise only to a corporation organized under the laws of this state.

(1) Horse racing may be conducted in all political subdivisions of the State of Arkansas, in addition to the City of Hot Springs, Garland County, Arkansas, where horse racing has been made lawful by Arkansas Constitution, Amendment 46, but only by the holder of a franchise granted by the Arkansas Racing Commission.

(2) The commission may grant a franchise only to a corporation organized under the laws of this state.

(b) (1) Franchises may not be granted by the commission to individuals, partnerships, associations, trusts, or to any others except corporations as provided in this section. (2) However, in the event that the limitations contained in subdivision (b)(1) of this section are declared unconstitutional, then the commission may grant franchises to individuals, partnerships, associations, trusts, and corporations.

(1) Franchises may not be granted by the commission to individuals, partnerships, associations, trusts, or to any others except corporations as provided in this section.

(2) However, in the event that the limitations contained in subdivision (b)(1) of this section are declared unconstitutional, then the commission may grant franchises to individuals, partnerships, associations, trusts, and corporations.

(c) Wherever the word "corporation" shall appear in this chapter, it shall be deemed to include the enumeration in subdivision (b)(2) of this section in the event of any declaration of unconstitutionality.

(d) The commission may not grant more than one (1) franchise for conducting horse racing meets in a single county.

(e) No franchise or temporary franchise shall be granted whenever the cost of the plant proposed to be constructed, including lands, buildings, facilities, and equipment, shall be less than three million dollars ($3,000,000).

Acts 1957, No. 46, §§ 9, 11; A.S.A. 1947, §§ 84-2735, 84-2737.
Ark. Code Ann. § 23-80-406 — AR Code / Title 23 / Chapter 80 / Subchapter 4 / Section 23-80-406
Required fields
Status: in_force

(a) This subchapter does not require a health benefit plan that provides coverage for prescription drugs or devices to issue a card or other technology separate from any identification card issued to a covered person to evidence coverage under the health benefit plan, if the card or other technology contains all of the required fields of information established by the National Council for Prescription Drug Programs, as in effect January 1, 2001, that are necessary to process a claim for prescription drug benefits under the health benefit plan. (b) The required fields of information shall be included on the card in a substantially similar format to that established by the council, as in effect January 1, 2001, and shall be printed in a clear, readable, and understandable manner. Acts 2001, No. 1409, § 6.

(a) This subchapter does not require a health benefit plan that provides coverage for prescription drugs or devices to issue a card or other technology separate from any identification card issued to a covered person to evidence coverage under the health benefit plan, if the card or other technology contains all of the required fields of information established by the National Council for Prescription Drug Programs, as in effect January 1, 2001, that are necessary to process a claim for prescription drug benefits under the health benefit plan.

(b) The required fields of information shall be included on the card in a substantially similar format to that established by the council, as in effect January 1, 2001, and shall be printed in a clear, readable, and understandable manner.

Acts 2001, No. 1409, § 6.
Ark. Code Ann. § 23-69-510 — AR Code / Title 23 / Chapter 69 / Subchapter 5 / Section 23-69-510
Oversight of operations
Status: in_force

Insurers subject to this subchapter consent to the jurisdiction of the Insurance Commissioner with regard to ongoing oversight of operations, management, and solvency relating to the transferred business, including the authority of the commissioner to conduct financial analysis and examinations. Added by Act 2021, No. 1018,§ 1, eff. 7/28/2021.

Insurers subject to this subchapter consent to the jurisdiction of the Insurance Commissioner with regard to ongoing oversight of operations, management, and solvency relating to the transferred business, including the authority of the commissioner to conduct financial analysis and examinations.

Added by Act 2021, No. 1018,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 23-63-1904 — AR Code / Title 23 / Chapter 63 / Subchapter 19 / Section 23-63-1904
Liability of appointed actuary
Status: in_force

An appointed actuary is not liable for damages to any person other than the property and casualty insurance company or the Insurance Commissioner, or both the property and casualty insurance company and the commissioner, for any act, error, omission, decision, or conduct with respect to the actuary's statement of actuarial opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary. Acts 2009, No. 726, § 24.

An appointed actuary is not liable for damages to any person other than the property and casualty insurance company or the Insurance Commissioner, or both the property and casualty insurance company and the commissioner, for any act, error, omission, decision, or conduct with respect to the actuary's statement of actuarial opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary.

Acts 2009, No. 726, § 24.
Ark. Code Ann. § 23-69-318 — AR Code / Title 23 / Chapter 69 / Subchapter 3 / Section 23-69-318
Payment of compensation
Status: in_force

(a) (1) No director, officer, employee, or agent of the mutual insurer and no other person shall receive any fee, commission, or other valuable consideration whatsoever, other than his or her usual regular salary and compensation, for in any manner aiding, promoting, or assisting in a plan of reorganization, except as set forth in the plan of reorganization approved by the Insurance Commissioner. (2) Subdivision (a)(1) of this section shall not prohibit a management-incentive compensation program which is contained in the plan of reorganization and approved by the commissioner to be adopted upon reorganization to the reorganized stock insurer or prohibit such a program to be later adopted by the reorganized stock insurer. (b) Subdivision (a)(1) of this section shall not be deemed to prohibit the payment of reasonable fees and compensation to attorneys, accountants, actuaries, and investment bankers for services performed in the independent practice of their professions, even though any such person is also a member of the board of directors of the mutual insurer. Acts 2001, No. 1726, § 1.

(a) (1) No director, officer, employee, or agent of the mutual insurer and no other person shall receive any fee, commission, or other valuable consideration whatsoever, other than his or her usual regular salary and compensation, for in any manner aiding, promoting, or assisting in a plan of reorganization, except as set forth in the plan of reorganization approved by the Insurance Commissioner. (2) Subdivision (a)(1) of this section shall not prohibit a management-incentive compensation program which is contained in the plan of reorganization and approved by the commissioner to be adopted upon reorganization to the reorganized stock insurer or prohibit such a program to be later adopted by the reorganized stock insurer.

(1) No director, officer, employee, or agent of the mutual insurer and no other person shall receive any fee, commission, or other valuable consideration whatsoever, other than his or her usual regular salary and compensation, for in any manner aiding, promoting, or assisting in a plan of reorganization, except as set forth in the plan of reorganization approved by the Insurance Commissioner.

(2) Subdivision (a)(1) of this section shall not prohibit a management-incentive compensation program which is contained in the plan of reorganization and approved by the commissioner to be adopted upon reorganization to the reorganized stock insurer or prohibit such a program to be later adopted by the reorganized stock insurer.

(b) Subdivision (a)(1) of this section shall not be deemed to prohibit the payment of reasonable fees and compensation to attorneys, accountants, actuaries, and investment bankers for services performed in the independent practice of their professions, even though any such person is also a member of the board of directors of the mutual insurer.

Acts 2001, No. 1726, § 1.
Ark. Code Ann. § 23-102-119 — AR Code / Title 23 / Chapter 102 / Section 23-102-119
Termination of Arkansas Earthquake Authority
Status: in_force

Upon termination of the Arkansas Earthquake Authority by the General Assembly or the Insurance Commissioner, its remaining funds shall be transferred to the State Insurance Department Trust Fund unless otherwise directed by the General Assembly. Acts 1999, No. 1343, § 19.

Upon termination of the Arkansas Earthquake Authority by the General Assembly or the Insurance Commissioner, its remaining funds shall be transferred to the State Insurance Department Trust Fund unless otherwise directed by the General Assembly.

Acts 1999, No. 1343, § 19.
Ark. Code Ann. § 23-75-110 — AR Code / Title 23 / Chapter 75 / Section 23-75-110
Contracting authority - Filing of contract
Status: in_force

(a) A corporation holding a certificate of authority under this chapter may enter into contracts with: (1) Licensed hospitals; (2) Physicians and surgeons licensed to practice in this state; (3) Licensed nursing homes; (4) Visiting nurse associations; and (5) Any hospital maintained and operated by the state or any political subdivision thereof or operated by any corporation, association, or individual. (b) The contracts by any corporation holding a certificate of authority under this chapter with licensed hospitals, with physicians and surgeons duly licensed to practice in this state, with licensed nursing homes, with visiting nurse associations, and with any hospital maintained and operated by the state or any political subdivision thereof or with any corporation, association, or individual shall be filed with the Insurance Commissioner. Acts 1959, No. 148, § 677; 1963, No. 54, § 2; 1975, No. 642, § 1. A.S.A. 1947, § 66-4907.

(a) A corporation holding a certificate of authority under this chapter may enter into contracts with: (1) Licensed hospitals; (2) Physicians and surgeons licensed to practice in this state; (3) Licensed nursing homes; (4) Visiting nurse associations; and (5) Any hospital maintained and operated by the state or any political subdivision thereof or operated by any corporation, association, or individual.

(1) Licensed hospitals;

(2) Physicians and surgeons licensed to practice in this state;

(3) Licensed nursing homes;

(4) Visiting nurse associations; and

(5) Any hospital maintained and operated by the state or any political subdivision thereof or operated by any corporation, association, or individual.

(b) The contracts by any corporation holding a certificate of authority under this chapter with licensed hospitals, with physicians and surgeons duly licensed to practice in this state, with licensed nursing homes, with visiting nurse associations, and with any hospital maintained and operated by the state or any political subdivision thereof or with any corporation, association, or individual shall be filed with the Insurance Commissioner.

Acts 1959, No. 148, § 677; 1963, No. 54, § 2; 1975, No. 642, § 1. A.S.A. 1947, § 66-4907.
Ark. Code Ann. § 23-10-106 — AR Code / Title 23 / Chapter 10 / Subchapter 1 / Section 23-10-106
Transportation companies - Discrimination in charges or facilities prohibited
Status: in_force

No discrimination in charges or facilities for transportation shall be made between transportation companies and individuals or in favor of either by abatement, drawback, or otherwise. Acts 1887, No. 81, § 4, p. 113; C. & M. Dig., § 919; Pope's Dig., § 1123; A.S.A. 1947, § 73-1506.

No discrimination in charges or facilities for transportation shall be made between transportation companies and individuals or in favor of either by abatement, drawback, or otherwise.

Acts 1887, No. 81, § 4, p. 113; C. & M. Dig., § 919; Pope's Dig., § 1123; A.S.A. 1947, § 73-1506.
Ark. Code Ann. § 23-32-202 — AR Code / Title 23 / Chapter 32 / Subchapter 2 / Section 23-32-202
[Repealed]
Status: repealed

Repealed by Act 2017, No. 426,§ 10, eff. 8/1/2017. Acts 1997, No. 82, § 1; 2003, No. 860, § 11.

Repealed by Act 2017, No. 426,§ 10, eff. 8/1/2017.

Acts 1997, No. 82, § 1; 2003, No. 860, § 11.
Ark. Code Ann. § 23-13-225 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-225
Permits for contract carriers - Terms and conditions - Contracts for services
Status: in_force

(a) The State Highway Commission shall specify in the permit for a contract carrier by motor vehicle the business of the contract carrier covered thereby and the scope thereof. The commission shall attach to the permit, at the time of issuance, and from time to time thereafter, such reasonable terms, conditions, and limitations consistent with the character of the holder as a contract carrier as are necessary to carry out, with respect to the operations of such a carrier, the requirements established by the commission under this subchapter. (b) (1) The commission shall not issue any permit which will authorize any contract carrier to have in effect, at any one time, more than six (6) contracts, such contracts to be filed with and approved by the commission prior to granting of such authority. (2) When any contract expires, the commission shall be given notice thereof, and if any new contract is substituted or added, the contract shall be filed with and approved by the commission before operation thereunder. (c) No permit issued under this subchapter shall confer any proprietary or property rights in the use of public highways. Acts 1955, No. 397, § 11; 1961, No. 191, § 1; A.S.A. 1947, § 73-1764; Acts 1993, No. 1020, § 1.

(a) The State Highway Commission shall specify in the permit for a contract carrier by motor vehicle the business of the contract carrier covered thereby and the scope thereof. The commission shall attach to the permit, at the time of issuance, and from time to time thereafter, such reasonable terms, conditions, and limitations consistent with the character of the holder as a contract carrier as are necessary to carry out, with respect to the operations of such a carrier, the requirements established by the commission under this subchapter.

(b) (1) The commission shall not issue any permit which will authorize any contract carrier to have in effect, at any one time, more than six (6) contracts, such contracts to be filed with and approved by the commission prior to granting of such authority. (2) When any contract expires, the commission shall be given notice thereof, and if any new contract is substituted or added, the contract shall be filed with and approved by the commission before operation thereunder.

(1) The commission shall not issue any permit which will authorize any contract carrier to have in effect, at any one time, more than six (6) contracts, such contracts to be filed with and approved by the commission prior to granting of such authority.

(2) When any contract expires, the commission shall be given notice thereof, and if any new contract is substituted or added, the contract shall be filed with and approved by the commission before operation thereunder.

(c) No permit issued under this subchapter shall confer any proprietary or property rights in the use of public highways.

Acts 1955, No. 397, § 11; 1961, No. 191, § 1; A.S.A. 1947, § 73-1764; Acts 1993, No. 1020, § 1.
Ark. Code Ann. § 23-71-111 — AR Code / Title 23 / Chapter 71 / Section 23-71-111
Policies - Liability
Status: in_force

(a) Every policy issued by a stipulated premium plan insurer in this state shall specify the sum of money which it promises to pay upon each contingency insured against and the time of payment after satisfactory proof of the happening of the contingency. (b) Unless the contract has been voided by fraud or breach of its conditions and warranties, the insurer shall be obligated to the insured for payment at the times specified of the amount due under the policy. Acts 1959, No. 148, § 548; A.S.A. 1947, § 66-4409.

(a) Every policy issued by a stipulated premium plan insurer in this state shall specify the sum of money which it promises to pay upon each contingency insured against and the time of payment after satisfactory proof of the happening of the contingency.

(b) Unless the contract has been voided by fraud or breach of its conditions and warranties, the insurer shall be obligated to the insured for payment at the times specified of the amount due under the policy.

Acts 1959, No. 148, § 548; A.S.A. 1947, § 66-4409.
Ark. Code Ann. § 23-14-126 — AR Code / Title 23 / Chapter 14 / Section 23-14-126
Access to and examination of property and records
Status: in_force

(a) The Arkansas Department of Transportation shall at all times have access to all lands, buildings, and equipment of any common carrier by aircraft and to all accounts, records, and memoranda, including all documents, papers, and correspondence, now or hereafter existing and kept or required to be kept by such carriers. (b) The department may employ special agents or auditors, who shall have authority under the orders of the department to inspect and examine any and all such lands, buildings, equipment, accounts, records, and memoranda. Amended by Act 2017, No. 707,§ 254, eff. 8/1/2017. Acts 1945, No. 252, § 16; A.S.A. 1947, § 74-417.

(a) The Arkansas Department of Transportation shall at all times have access to all lands, buildings, and equipment of any common carrier by aircraft and to all accounts, records, and memoranda, including all documents, papers, and correspondence, now or hereafter existing and kept or required to be kept by such carriers.

(b) The department may employ special agents or auditors, who shall have authority under the orders of the department to inspect and examine any and all such lands, buildings, equipment, accounts, records, and memoranda.

Amended by Act 2017, No. 707,§ 254, eff. 8/1/2017.

Acts 1945, No. 252, § 16; A.S.A. 1947, § 74-417.
Ark. Code Ann. § 23-13-224 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-224
Permits for contract carriers - Issuance
Status: in_force

(a) Subject to this subchapter, a permit for a contract carrier by motor vehicle shall be issued to any qualified applicant therefor authorizing in whole or in part the operations covered by the applications, if it is found that the applicant is fit, willing, and able to properly perform the service of a contract carrier by motor vehicle and to conform to the provisions of this subchapter and the lawful requirements and rules of the Arkansas Department of Transportation, and the proposed operation, to the extent authorized by the permit, will promote the public interest and the policy declared in § 23-13-202 ; otherwise the application shall be denied. (b) No permit shall be issued by the department except upon a hearing at least twenty (20) days after service of notice to interested parties of the time and place thereof. (c) In granting applications for permits, the department shall take into consideration: (1) The reliability and financial condition of the applicant and his or her sense of responsibility toward the public; (2) The transportation service being maintained by any railroad, street railway, or motor carrier; (3) The likelihood of the proposed service being permanent and continuous throughout twelve (12) months of the year and the effect which the proposed transportation service may have upon existing transportation service; and (4) Any other matters tending to show the necessity or want of necessity for granting the application. Amended by Act 2019, No. 315,§ 2426, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 200, eff. 8/1/2017. Acts 1955, No. 397, § 11; A.S.A. 1947, § 73-1764.

(a) Subject to this subchapter, a permit for a contract carrier by motor vehicle shall be issued to any qualified applicant therefor authorizing in whole or in part the operations covered by the applications, if it is found that the applicant is fit, willing, and able to properly perform the service of a contract carrier by motor vehicle and to conform to the provisions of this subchapter and the lawful requirements and rules of the Arkansas Department of Transportation, and the proposed operation, to the extent authorized by the permit, will promote the public interest and the policy declared in § 23-13-202 ; otherwise the application shall be denied.

(b) No permit shall be issued by the department except upon a hearing at least twenty (20) days after service of notice to interested parties of the time and place thereof.

(c) In granting applications for permits, the department shall take into consideration: (1) The reliability and financial condition of the applicant and his or her sense of responsibility toward the public; (2) The transportation service being maintained by any railroad, street railway, or motor carrier; (3) The likelihood of the proposed service being permanent and continuous throughout twelve (12) months of the year and the effect which the proposed transportation service may have upon existing transportation service; and (4) Any other matters tending to show the necessity or want of necessity for granting the application.

(1) The reliability and financial condition of the applicant and his or her sense of responsibility toward the public;

(2) The transportation service being maintained by any railroad, street railway, or motor carrier;

(3) The likelihood of the proposed service being permanent and continuous throughout twelve (12) months of the year and the effect which the proposed transportation service may have upon existing transportation service; and

(4) Any other matters tending to show the necessity or want of necessity for granting the application.

Amended by Act 2019, No. 315,§ 2426, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 200, eff. 8/1/2017.

Acts 1955, No. 397, § 11; A.S.A. 1947, § 73-1764.
Ark. Code Ann. § 23-61-1104 — AR Code / Title 23 / Chapter 61 / Subchapter 11 / Section 23-61-1104
Executive Secretary of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services
Status: in_force

(a) (1) The Insurance Commissioner, in consultation with the Secretary of the Department of Commerce, may appoint and employ a person as the Executive Secretary of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services who shall serve at the pleasure of the commissioner. (2) The executive secretary shall devote the necessary time to the performance of his or her duties under this section. (3) The duties of the executive secretary shall include: (A) Collection of fees and charges under this subchapter; § 17-29-301 et seq.; the Cemetery Act for Perpetually Maintained Cemeteries, § 20-17-1001 et seq.; the Insolvent Cemetery Grant Fund Act, § 20-17-1301 et seq.; and § 23-78-101 et seq.; (B) Keeping record of the proceedings of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services; (C) Keeping an accurate account of all moneys received and disbursed by the commissioner; and (D) Any other duties defined and designated by the board. (b) The board shall maintain its main office location in Little Rock and transact the business of the board at the main office. Amended by Act 2019, No. 910,§ 605, eff. 7/1/2019. Added by Act 2017, No. 788,§ 3, eff. 7/1/2018.

(a) (1) The Insurance Commissioner, in consultation with the Secretary of the Department of Commerce, may appoint and employ a person as the Executive Secretary of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services who shall serve at the pleasure of the commissioner. (2) The executive secretary shall devote the necessary time to the performance of his or her duties under this section. (3) The duties of the executive secretary shall include: (A) Collection of fees and charges under this subchapter; § 17-29-301 et seq.; the Cemetery Act for Perpetually Maintained Cemeteries, § 20-17-1001 et seq.; the Insolvent Cemetery Grant Fund Act, § 20-17-1301 et seq.; and § 23-78-101 et seq.; (B) Keeping record of the proceedings of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services; (C) Keeping an accurate account of all moneys received and disbursed by the commissioner; and (D) Any other duties defined and designated by the board.

(1) The Insurance Commissioner, in consultation with the Secretary of the Department of Commerce, may appoint and employ a person as the Executive Secretary of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services who shall serve at the pleasure of the commissioner.

(2) The executive secretary shall devote the necessary time to the performance of his or her duties under this section.

(3) The duties of the executive secretary shall include: (A) Collection of fees and charges under this subchapter; § 17-29-301 et seq.; the Cemetery Act for Perpetually Maintained Cemeteries, § 20-17-1001 et seq.; the Insolvent Cemetery Grant Fund Act, § 20-17-1301 et seq.; and § 23-78-101 et seq.; (B) Keeping record of the proceedings of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services; (C) Keeping an accurate account of all moneys received and disbursed by the commissioner; and (D) Any other duties defined and designated by the board.

(A) Collection of fees and charges under this subchapter; § 17-29-301 et seq.; the Cemetery Act for Perpetually Maintained Cemeteries, § 20-17-1001 et seq.; the Insolvent Cemetery Grant Fund Act, § 20-17-1301 et seq.; and § 23-78-101 et seq.;

(B) Keeping record of the proceedings of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services;

(C) Keeping an accurate account of all moneys received and disbursed by the commissioner; and

(D) Any other duties defined and designated by the board.

(b) The board shall maintain its main office location in Little Rock and transact the business of the board at the main office.

Amended by Act 2019, No. 910,§ 605, eff. 7/1/2019.

Added by Act 2017, No. 788,§ 3, eff. 7/1/2018.
Ark. Code Ann. § 23-4-805 — AR Code / Title 23 / Chapter 4 / Subchapter 8 / Section 23-4-805
Exemptions - Certain officials permitted to accept and use passes
Status: in_force

(a) Sheriffs are exempt from the provision of § 23-4-803 [repealed], and it shall not be unlawful for railroad companies to furnish free passes to them. (b) The Commissioner of Elementary and Secondary Education and the Director of the Division of Career and Technical Education and the prosecuting attorneys and judges of the circuit courts of the several judicial districts of this state shall be permitted to accept and use a free pass on any railroad in this state without incurring any penalty prescribed under § 23-4-803 [repealed]. (c) Any county judge or any constable or deputy sheriff within the State of Arkansas is permitted to accept and use a free pass on any railroad in the State of Arkansas without incurring the penalty prescribed in § 23-4-803 [repealed]. (d) No railroad company issuing such a pass shall be liable for the penalty set out in § 23-4-802 or liable to prosecution under any of the laws of the State of Arkansas because of the issuance of the pass. Amended by Act 2019, No. 910,§ 2347, eff. 7/1/2019. Acts 1895, No. 77, § 1, p. 102; 1903, No. 192, § 2, p. 376; 1917, No. 400, § 1, p. 1866; C. & M. Dig., § 893; Acts 1931, No. 151, § 1; 1935, No. 19, § 1; Pope's Dig., § 1096; A.S.A. 1947, § 73-1532.

(a) Sheriffs are exempt from the provision of § 23-4-803 [repealed], and it shall not be unlawful for railroad companies to furnish free passes to them.

(b) The Commissioner of Elementary and Secondary Education and the Director of the Division of Career and Technical Education and the prosecuting attorneys and judges of the circuit courts of the several judicial districts of this state shall be permitted to accept and use a free pass on any railroad in this state without incurring any penalty prescribed under § 23-4-803 [repealed].

(c) Any county judge or any constable or deputy sheriff within the State of Arkansas is permitted to accept and use a free pass on any railroad in the State of Arkansas without incurring the penalty prescribed in § 23-4-803 [repealed].

(d) No railroad company issuing such a pass shall be liable for the penalty set out in § 23-4-802 or liable to prosecution under any of the laws of the State of Arkansas because of the issuance of the pass.

Amended by Act 2019, No. 910,§ 2347, eff. 7/1/2019.

Acts 1895, No. 77, § 1, p. 102; 1903, No. 192, § 2, p. 376; 1917, No. 400, § 1, p. 1866; C. & M. Dig., § 893; Acts 1931, No. 151, § 1; 1935, No. 19, § 1; Pope's Dig., § 1096; A.S.A. 1947, § 73-1532.
Ark. Code Ann. § 23-15-105 — AR Code / Title 23 / Chapter 15 / Subchapter 1 / Section 23-15-105
Pipeline companies authorized to transport ammonia and other components of fertilizer
Status: in_force

(a) Pipeline companies operating in this state as common carriers and companies operating pipelines in this state for conveying natural or artificial gas for public utility service may transport by pipeline ammonia and other substances and materials composing commercial fertilizer, or used in manufacturing commercial fertilizer, when specifically authorized to so do by the Arkansas Department of Transportation. (b) (1) Applications for authority to operate under subsection (a) of this section shall be heard and determined by the department. (2) Appeals from the department's orders in such matters shall be granted pursuant to § 23-2-211 . (c) The department shall make such reasonable rules as may be necessary to administer this section. (d) All companies authorized by the department to operate under subsection (a) of this section are given the right of eminent domain. The procedure to be followed in the exercise of this right shall be the same as prescribed in § 18-15-1201 et seq. relating to railroad companies, telegraph companies, and telephone companies. Amended by Act 2019, No. 315,§ 2459, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 256, eff. 8/1/2017. Acts 1967, No. 170, §§ 1-4; A.S.A. 1947, §§ 73-1904 -- 73-1907.

(a) Pipeline companies operating in this state as common carriers and companies operating pipelines in this state for conveying natural or artificial gas for public utility service may transport by pipeline ammonia and other substances and materials composing commercial fertilizer, or used in manufacturing commercial fertilizer, when specifically authorized to so do by the Arkansas Department of Transportation.

(b) (1) Applications for authority to operate under subsection (a) of this section shall be heard and determined by the department. (2) Appeals from the department's orders in such matters shall be granted pursuant to § 23-2-211 .

(1) Applications for authority to operate under subsection (a) of this section shall be heard and determined by the department.

(2) Appeals from the department's orders in such matters shall be granted pursuant to § 23-2-211 .

(c) The department shall make such reasonable rules as may be necessary to administer this section.

(d) All companies authorized by the department to operate under subsection (a) of this section are given the right of eminent domain. The procedure to be followed in the exercise of this right shall be the same as prescribed in § 18-15-1201 et seq. relating to railroad companies, telegraph companies, and telephone companies.

Amended by Act 2019, No. 315,§ 2459, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 256, eff. 8/1/2017.

Acts 1967, No. 170, §§ 1-4; A.S.A. 1947, §§ 73-1904 -- 73-1907.
Ark. Code Ann. § 23-78-104 — AR Code / Title 23 / Chapter 78 / Section 23-78-104
Penalty
Status: in_force

(a) A person, firm, association, copartnership, corporation, company, or other organization shall not organize, operate, or in any way solicit members for a burial association, or for participation in any plan, scheme, or device similar to burial associations, except in the manner provided by this chapter and the rules promulgated by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services. (b) Any person, firm, association, copartnership, corporation, company, or other organization violating the provisions of this section shall be guilty of a Class A misdemeanor. Amended by Act 2017, No. 788,§ 69, eff. 7/1/2018. Acts 1953, No. 91, § 16; A.S.A. 1947, § 66-1816; Acts 2005, No. 1802, § 1; 2005, No. 1994, § 358.

(a) A person, firm, association, copartnership, corporation, company, or other organization shall not organize, operate, or in any way solicit members for a burial association, or for participation in any plan, scheme, or device similar to burial associations, except in the manner provided by this chapter and the rules promulgated by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services.

(b) Any person, firm, association, copartnership, corporation, company, or other organization violating the provisions of this section shall be guilty of a Class A misdemeanor.

Amended by Act 2017, No. 788,§ 69, eff. 7/1/2018.

Acts 1953, No. 91, § 16; A.S.A. 1947, § 66-1816; Acts 2005, No. 1802, § 1; 2005, No. 1994, § 358.
Ark. Code Ann. § 23-63-833 — AR Code / Title 23 / Chapter 63 / Subchapter 8 / Section 23-63-833
Prohibited investments
Status: in_force

In addition to investments excluded pursuant to other provisions of the Arkansas Insurance Code, an insurer shall not directly or indirectly invest in or lend its funds upon the security of: (1) Issued shares of its own capital stock, except for the purpose of mutualization under § 23-69-140 or with the advance consent of the Insurance Commissioner under § 23-63-817 ; (2) Except with the advance consent of the commissioner, securities issued by any corporation or enterprise the controlling interest of which is held, or will be held after the acquisition by the insurer, directly or indirectly by the insurer or any combination of the insurer and the insurer's directors, officers, parent corporation, subsidiaries, or controlling stockholders. Investments in subsidiaries under § 23-63-818 shall not be subject to this provision; or (3) Any note or other evidence of indebtedness of any director, officer, employee, or controlling stockholder of the insurer, except as to policy loans authorized under § 23-63-821 . Acts 1959, No. 148, § 130; 1971, No. 293, § 2; A.S.A. 1947, § 66-2634.

In addition to investments excluded pursuant to other provisions of the Arkansas Insurance Code, an insurer shall not directly or indirectly invest in or lend its funds upon the security of:

(1) Issued shares of its own capital stock, except for the purpose of mutualization under § 23-69-140 or with the advance consent of the Insurance Commissioner under § 23-63-817 ;

(2) Except with the advance consent of the commissioner, securities issued by any corporation or enterprise the controlling interest of which is held, or will be held after the acquisition by the insurer, directly or indirectly by the insurer or any combination of the insurer and the insurer's directors, officers, parent corporation, subsidiaries, or controlling stockholders. Investments in subsidiaries under § 23-63-818 shall not be subject to this provision; or

(3) Any note or other evidence of indebtedness of any director, officer, employee, or controlling stockholder of the insurer, except as to policy loans authorized under § 23-63-821 .

Acts 1959, No. 148, § 130; 1971, No. 293, § 2; A.S.A. 1947, § 66-2634.
Ark. Code Ann. § 23-48-103 — AR Code / Title 23 / Chapter 48 / Subchapter 1 / Section 23-48-103
Bank holidays - Definition
Status: in_force

(a) (1) Any bank, subsidiary trust company, or national trust company doing business in this state may close its office for the transaction of business upon any day which has been or may hereafter be set apart or designated under the laws of this state or of the United States as a legal holiday. (2) All acts omitted or done by any bank, subsidiary trust company, or national trust company upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day. (b) (1) Any bank, subsidiary trust company, or national trust company transacting business in the State of Arkansas may close on any one (1) business day of each week unless a temporary interruption in service is authorized under subsection (d) of this section. (2) Any day upon which a bank, subsidiary trust company, or national trust company may elect to close shall, with respect to the institution, be deemed a holiday for all purposes and not a business day. (3) All acts omitted or done by a bank, subsidiary trust company, or national trust company upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day. (c) Any act authorized, required, or permitted to be performed at or with respect to any such bank, subsidiary trust company, or national trust company on the days closed may be performed on the next succeeding business day, and no liability or loss of rights of any kind shall result from the delay. (d) (1) If a bank is required to temporarily close a branch office due to an event beyond a bank's control, then upon written permission by the Bank Commissioner, the bank may close a branch office temporarily if the services at the site are expected to be restored in a timely manner. (2) A branch office shall not be closed for more than three (3) consecutive business days due to a temporary interruption in service under subdivision (d)(1) of this section. (3) The commissioner may grant an extension for a bank to close a branch office temporarily for an additional two (2) business days if the bank submits a written request that demonstrates the necessity for a longer closure period. (e) As used in this section, "business day" means Monday through Saturday, except for a state or federal holiday. Amended by Act 2023, No. 298,§ 2, eff. 8/1/2023. Acts 1997, No. 89, § 1.

(a) (1) Any bank, subsidiary trust company, or national trust company doing business in this state may close its office for the transaction of business upon any day which has been or may hereafter be set apart or designated under the laws of this state or of the United States as a legal holiday. (2) All acts omitted or done by any bank, subsidiary trust company, or national trust company upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day.

(1) Any bank, subsidiary trust company, or national trust company doing business in this state may close its office for the transaction of business upon any day which has been or may hereafter be set apart or designated under the laws of this state or of the United States as a legal holiday.

(2) All acts omitted or done by any bank, subsidiary trust company, or national trust company upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day.

(b) (1) Any bank, subsidiary trust company, or national trust company transacting business in the State of Arkansas may close on any one (1) business day of each week unless a temporary interruption in service is authorized under subsection (d) of this section. (2) Any day upon which a bank, subsidiary trust company, or national trust company may elect to close shall, with respect to the institution, be deemed a holiday for all purposes and not a business day. (3) All acts omitted or done by a bank, subsidiary trust company, or national trust company upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day.

(1) Any bank, subsidiary trust company, or national trust company transacting business in the State of Arkansas may close on any one (1) business day of each week unless a temporary interruption in service is authorized under subsection (d) of this section.

(2) Any day upon which a bank, subsidiary trust company, or national trust company may elect to close shall, with respect to the institution, be deemed a holiday for all purposes and not a business day.

(3) All acts omitted or done by a bank, subsidiary trust company, or national trust company upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day.

(c) Any act authorized, required, or permitted to be performed at or with respect to any such bank, subsidiary trust company, or national trust company on the days closed may be performed on the next succeeding business day, and no liability or loss of rights of any kind shall result from the delay.

(d) (1) If a bank is required to temporarily close a branch office due to an event beyond a bank's control, then upon written permission by the Bank Commissioner, the bank may close a branch office temporarily if the services at the site are expected to be restored in a timely manner. (2) A branch office shall not be closed for more than three (3) consecutive business days due to a temporary interruption in service under subdivision (d)(1) of this section. (3) The commissioner may grant an extension for a bank to close a branch office temporarily for an additional two (2) business days if the bank submits a written request that demonstrates the necessity for a longer closure period.

(1) If a bank is required to temporarily close a branch office due to an event beyond a bank's control, then upon written permission by the Bank Commissioner, the bank may close a branch office temporarily if the services at the site are expected to be restored in a timely manner.

(2) A branch office shall not be closed for more than three (3) consecutive business days due to a temporary interruption in service under subdivision (d)(1) of this section.

(3) The commissioner may grant an extension for a bank to close a branch office temporarily for an additional two (2) business days if the bank submits a written request that demonstrates the necessity for a longer closure period.

(e) As used in this section, "business day" means Monday through Saturday, except for a state or federal holiday.

Amended by Act 2023, No. 298,§ 2, eff. 8/1/2023.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-12-701 — AR Code / Title 23 / Chapter 12 / Subchapter 7 / Section 23-12-701
Railroad police - Purpose - Appointment
Status: in_force

Any railroad company or corporation owning or operating a railroad in this state may appoint one (1) or more persons to be designated by the railroad company as a railroad police officer to aid and supplement the law enforcement agencies of this state in the protection of the persons and property of railroad passengers and employees and in the protection of railroad property. The appointment of any such person as a railroad police officer shall be subject to the approval of the Governor of this state. Acts 1973, No. 57, § 1; A.S.A. 1947, § 73-634.

Any railroad company or corporation owning or operating a railroad in this state may appoint one (1) or more persons to be designated by the railroad company as a railroad police officer to aid and supplement the law enforcement agencies of this state in the protection of the persons and property of railroad passengers and employees and in the protection of railroad property. The appointment of any such person as a railroad police officer shall be subject to the approval of the Governor of this state.

Acts 1973, No. 57, § 1; A.S.A. 1947, § 73-634.
Ark. Code Ann. § 23-63-815 — AR Code / Title 23 / Chapter 63 / Subchapter 8 / Section 23-63-815
Preferred or guaranteed stock
Status: in_force

(a) An insurer may invest in preferred or guaranteed stocks or shares of any solvent institution existing under the laws of the United States or of Canada, or of any state or province thereof, if at the date of the acquisition of the investment by the insurer: (1) The net earnings of the institution available for its fixed charges during each of the last two (2) years have been, and during each of the last five (5) years have averaged, not less than one and one-half (11/2) times the sum of its average annual fixed charges, if any, its average annual maximum contingent interest, if any, and its average annual preferred dividend requirements; or (2) The securities are: (A) Rated "1" or "2" by the Securities Valuation Office of the National Association of Insurance Commissioners; or (B) Exempt under the Purposes and Procedures Manual of the Securities Valuation Office of the National Association of Insurance Commissioners. (b) For the purposes of this section, the computation shall refer to the fiscal years immediately preceding the date of acquisition of the investment by the insurer, and the term "preferred dividend requirement" shall be deemed to mean cumulative or noncumulative dividends, whether paid or not. Amended by Act 2015, No. 1223,§ 16, eff. 7/22/2015. Acts 1959, No. 148, § 111; A.S.A. 1947, § 66-2615; Acts 1993, No. 527, § 9.

(a) An insurer may invest in preferred or guaranteed stocks or shares of any solvent institution existing under the laws of the United States or of Canada, or of any state or province thereof, if at the date of the acquisition of the investment by the insurer: (1) The net earnings of the institution available for its fixed charges during each of the last two (2) years have been, and during each of the last five (5) years have averaged, not less than one and one-half (11/2) times the sum of its average annual fixed charges, if any, its average annual maximum contingent interest, if any, and its average annual preferred dividend requirements; or (2) The securities are: (A) Rated "1" or "2" by the Securities Valuation Office of the National Association of Insurance Commissioners; or (B) Exempt under the Purposes and Procedures Manual of the Securities Valuation Office of the National Association of Insurance Commissioners.

(1) The net earnings of the institution available for its fixed charges during each of the last two (2) years have been, and during each of the last five (5) years have averaged, not less than one and one-half (11/2) times the sum of its average annual fixed charges, if any, its average annual maximum contingent interest, if any, and its average annual preferred dividend requirements; or

(2) The securities are: (A) Rated "1" or "2" by the Securities Valuation Office of the National Association of Insurance Commissioners; or (B) Exempt under the Purposes and Procedures Manual of the Securities Valuation Office of the National Association of Insurance Commissioners.

(A) Rated "1" or "2" by the Securities Valuation Office of the National Association of Insurance Commissioners; or

(B) Exempt under the Purposes and Procedures Manual of the Securities Valuation Office of the National Association of Insurance Commissioners.

(b) For the purposes of this section, the computation shall refer to the fiscal years immediately preceding the date of acquisition of the investment by the insurer, and the term "preferred dividend requirement" shall be deemed to mean cumulative or noncumulative dividends, whether paid or not.

Amended by Act 2015, No. 1223,§ 16, eff. 7/22/2015.

Acts 1959, No. 148, § 111; A.S.A. 1947, § 66-2615; Acts 1993, No. 527, § 9.
Ark. Code Ann. § 23-69-309 — AR Code / Title 23 / Chapter 69 / Subchapter 3 / Section 23-69-309
Issuance of certificate
Status: in_force

(a) The Insurance Commissioner shall issue a certificate of authority to a reorganized stock insurer when the mutual insurer files with the commissioner a: (1) Certificate stating that all of the conditions set forth in the plan of reorganization have been satisfied, so long as the board of directors of the mutual insurer has not abandoned the plan of reorganization under § 23-69-312 ; and (2) Certificate from the mutual insurer setting forth the vote and certifying that the plan of reorganization was approved by not less than two-thirds (2/3) of the policyholders voting in person or by proxy on the plan of reorganization. (b) (1) The reorganization shall be effective upon the issuance of a certificate of authority by the commissioner. (2) Upon issuance of the certificate of authority, the insurer's articles of incorporation shall be treated as amended in compliance with § 23-69-107 . Acts 2001, No. 1726, § 1.

(a) The Insurance Commissioner shall issue a certificate of authority to a reorganized stock insurer when the mutual insurer files with the commissioner a: (1) Certificate stating that all of the conditions set forth in the plan of reorganization have been satisfied, so long as the board of directors of the mutual insurer has not abandoned the plan of reorganization under § 23-69-312 ; and (2) Certificate from the mutual insurer setting forth the vote and certifying that the plan of reorganization was approved by not less than two-thirds (2/3) of the policyholders voting in person or by proxy on the plan of reorganization.

(1) Certificate stating that all of the conditions set forth in the plan of reorganization have been satisfied, so long as the board of directors of the mutual insurer has not abandoned the plan of reorganization under § 23-69-312 ; and

(2) Certificate from the mutual insurer setting forth the vote and certifying that the plan of reorganization was approved by not less than two-thirds (2/3) of the policyholders voting in person or by proxy on the plan of reorganization.

(b) (1) The reorganization shall be effective upon the issuance of a certificate of authority by the commissioner. (2) Upon issuance of the certificate of authority, the insurer's articles of incorporation shall be treated as amended in compliance with § 23-69-107 .

(1) The reorganization shall be effective upon the issuance of a certificate of authority by the commissioner.

(2) Upon issuance of the certificate of authority, the insurer's articles of incorporation shall be treated as amended in compliance with § 23-69-107 .

Acts 2001, No. 1726, § 1.
Ark. Code Ann. § 23-48-104 — AR Code / Title 23 / Chapter 48 / Subchapter 1 / Section 23-48-104
Dealings with agents, fiduciaries, etc
Status: in_force

A bank dealing, whether to its own benefit or otherwise, with, through, or under any person who is or may be an officer, employee, member, agent, trustee, representative, or other fiduciary of another person shall not be deemed to have notice of nor be obligated to inquire as to any lack of or limitation upon the power of the person solely by reason either of: (1) The fact that the person has executed in his or her representative capacity and is himself or herself the payee or endorsee of any check, bill, note, or other promise or order; or (2) The use of descriptive words in connection with his or her deposit account or accounts, any transfer, certificate, or memorandum thereof, or in connection with any signature or endorsement of the person. Acts 1997, No. 89, § 1.

A bank dealing, whether to its own benefit or otherwise, with, through, or under any person who is or may be an officer, employee, member, agent, trustee, representative, or other fiduciary of another person shall not be deemed to have notice of nor be obligated to inquire as to any lack of or limitation upon the power of the person solely by reason either of:

(1) The fact that the person has executed in his or her representative capacity and is himself or herself the payee or endorsee of any check, bill, note, or other promise or order; or

(2) The use of descriptive words in connection with his or her deposit account or accounts, any transfer, certificate, or memorandum thereof, or in connection with any signature or endorsement of the person.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-37-309 — AR Code / Title 23 / Chapter 37 / Subchapter 3 / Section 23-37-309
Hearings on charter applications
Status: in_force

When a proper application for a charter has been filed, the Supervisor of Savings and Loan Associations shall hold a public hearing on the application, after giving not less than twenty (20) days' written notice of the date and time of hearing to each existing association or federal association in the state. The notice shall be made promptly after the filing of an application. At the hearing, any interested party may appear, present evidence, and be heard for or against the application. Acts 1963, No. 227, § 23; 1973, No. 292, § 2; A.S.A. 1947, § 67-1823; Acts 1997, No. 258, § 7.

When a proper application for a charter has been filed, the Supervisor of Savings and Loan Associations shall hold a public hearing on the application, after giving not less than twenty (20) days' written notice of the date and time of hearing to each existing association or federal association in the state. The notice shall be made promptly after the filing of an application. At the hearing, any interested party may appear, present evidence, and be heard for or against the application.

Acts 1963, No. 227, § 23; 1973, No. 292, § 2; A.S.A. 1947, § 67-1823; Acts 1997, No. 258, § 7.
Ark. Code Ann. § 23-81-134 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-134
Registered life insurance policies and annuity contracts - Maintenance of deposit - Commissioner's duty to issue certificate
Status: in_force

(a) (1) Each insurer that has made the deposit provided for under § 23-81-130 shall make additional deposits from time to time in amounts not less than five thousand dollars ($5,000) and of such securities as are permitted by §§ 23-63-901 - 23-63-912 to be deposited so that the value of the securities deposited when valued as provided in § 23-63-601 et seq. and §§ 23-84-101 - 23-84-111 shall always be equal to the current net value of the currently outstanding registered policies and annuity bonds and contracts issued by the insurer, less such liens as the insurer may have against it, not exceeding the net value. (2) So long as the insurer maintains its deposits at an amount equal to or in excess of the net value of its registered policies, bonds, and contracts, the Insurance Commissioner shall sign and affix his or her seal to the certificates on every policy, annuity bond, or contract presented to him or her for that purpose by the insurer as provided in § 23-81-131 . (b) The obligation to maintain and increase the deposits shall be binding likewise upon any insurer that is a successor in interest to the issuing insurer as to the registered policies, bonds, or contracts. Acts 1959, No. 148, § 341; A.S.A. 1947, § 66-3332; Acts 2001, No. 1566, § 19.

(a) (1) Each insurer that has made the deposit provided for under § 23-81-130 shall make additional deposits from time to time in amounts not less than five thousand dollars ($5,000) and of such securities as are permitted by §§ 23-63-901 - 23-63-912 to be deposited so that the value of the securities deposited when valued as provided in § 23-63-601 et seq. and §§ 23-84-101 - 23-84-111 shall always be equal to the current net value of the currently outstanding registered policies and annuity bonds and contracts issued by the insurer, less such liens as the insurer may have against it, not exceeding the net value. (2) So long as the insurer maintains its deposits at an amount equal to or in excess of the net value of its registered policies, bonds, and contracts, the Insurance Commissioner shall sign and affix his or her seal to the certificates on every policy, annuity bond, or contract presented to him or her for that purpose by the insurer as provided in § 23-81-131 .

(1) Each insurer that has made the deposit provided for under § 23-81-130 shall make additional deposits from time to time in amounts not less than five thousand dollars ($5,000) and of such securities as are permitted by §§ 23-63-901 - 23-63-912 to be deposited so that the value of the securities deposited when valued as provided in § 23-63-601 et seq. and §§ 23-84-101 - 23-84-111 shall always be equal to the current net value of the currently outstanding registered policies and annuity bonds and contracts issued by the insurer, less such liens as the insurer may have against it, not exceeding the net value.

(2) So long as the insurer maintains its deposits at an amount equal to or in excess of the net value of its registered policies, bonds, and contracts, the Insurance Commissioner shall sign and affix his or her seal to the certificates on every policy, annuity bond, or contract presented to him or her for that purpose by the insurer as provided in § 23-81-131 .

(b) The obligation to maintain and increase the deposits shall be binding likewise upon any insurer that is a successor in interest to the issuing insurer as to the registered policies, bonds, or contracts.

Acts 1959, No. 148, § 341; A.S.A. 1947, § 66-3332; Acts 2001, No. 1566, § 19.
Ark. Code Ann. § 23-4-616 — AR Code / Title 23 / Chapter 4 / Subchapter 6 / Section 23-4-616
Railroads - Additional charge for stopping at other than regular station
Status: in_force

Any railroad company may charge the sum of twenty-five cents (25¢) for the carriage of any passenger who may get on or off a train at other than a regular station. Acts 1887, No. 129, § 1, p. 227; C. & M. Dig., § 882; Pope's Dig., § 1084; A.S.A. 1947, § 73-1416.

Any railroad company may charge the sum of twenty-five cents (25¢) for the carriage of any passenger who may get on or off a train at other than a regular station.

Acts 1887, No. 129, § 1, p. 227; C. & M. Dig., § 882; Pope's Dig., § 1084; A.S.A. 1947, § 73-1416.
Ark. Code Ann. § 23-83-121 — AR Code / Title 23 / Chapter 83 / Section 23-83-121
Delivery of certificate of insurance to insured debtors provision
Status: in_force

In the case of a policy insuring the lives of debtors, a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a certificate of insurance describing the coverage and specifying that the death benefit shall first be applied to reduce or extinguish the indebtedness shall be included. Acts 1981, No. 898, § 21; A.S.A. 1947, § 66-3521.

In the case of a policy insuring the lives of debtors, a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a certificate of insurance describing the coverage and specifying that the death benefit shall first be applied to reduce or extinguish the indebtedness shall be included.

Acts 1981, No. 898, § 21; A.S.A. 1947, § 66-3521.
Ark. Code Ann. § 23-51-131 — AR Code / Title 23 / Chapter 51 / Section 23-51-131
Common investment funds
Status: in_force

(a) A state trust company may establish common trust funds to provide investment to itself as a fiduciary. (b) The Bank Commissioner may adopt rules to administer and carry out this section, including but not limited to rules to establish investment and participation limitations, disclosure of fees, audit requirements, limit or expand investment authority for particular classes or categories of securities or other property, advertising, exemptions, and other requirements that may be necessary to carry out this section. Amended by Act 2019, No. 315,§ 2587, eff. 7/24/2019. Acts 1997, No. 940, § 31.

(a) A state trust company may establish common trust funds to provide investment to itself as a fiduciary.

(b) The Bank Commissioner may adopt rules to administer and carry out this section, including but not limited to rules to establish investment and participation limitations, disclosure of fees, audit requirements, limit or expand investment authority for particular classes or categories of securities or other property, advertising, exemptions, and other requirements that may be necessary to carry out this section.

Amended by Act 2019, No. 315,§ 2587, eff. 7/24/2019.

Acts 1997, No. 940, § 31.
Ark. Code Ann. § 23-4-416 — AR Code / Title 23 / Chapter 4 / Subchapter 4 / Section 23-4-416
Surcharge to collect excessive refunds
Status: in_force

In the event that the amount of refunds ordered by the Arkansas Public Service Commission in its final order is subsequently determined to have been excessive, either on rehearing or in accordance with a court decision on judicial review, the public utility subject to the order shall be entitled to impose an additional surcharge on the affected customers to recover that portion of the refunds to which it was entitled, together with interest as determined by the commission at a rate not to exceed the maximum interest rate otherwise allowed by law. The surcharge shall be assessed over a period equal to the period between the date the rates were implemented under bond and the date of the commission's final order. The surcharge shall be distributed among the affected customers in proportion to the amount of refunds those customers received. Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 2; 1983, No. 911, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.

In the event that the amount of refunds ordered by the Arkansas Public Service Commission in its final order is subsequently determined to have been excessive, either on rehearing or in accordance with a court decision on judicial review, the public utility subject to the order shall be entitled to impose an additional surcharge on the affected customers to recover that portion of the refunds to which it was entitled, together with interest as determined by the commission at a rate not to exceed the maximum interest rate otherwise allowed by law. The surcharge shall be assessed over a period equal to the period between the date the rates were implemented under bond and the date of the commission's final order. The surcharge shall be distributed among the affected customers in proportion to the amount of refunds those customers received.

Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 2; 1983, No. 911, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.
Ark. Code Ann. § 23-97-309 — AR Code / Title 23 / Chapter 97 / Subchapter 3 / Section 23-97-309
Prior hospitalization or institutionalization
Status: in_force

(a) No long-term care insurance policy shall be delivered or issued for delivery in this state if the policy: (1) Conditions eligibility for any benefits on a prior hospitalization requirement; (2) Conditions eligibility for any benefits provided in an institutional care setting on the receipt of a higher level of institutional care; or (3) Conditions eligibility for any benefits other than waiver of premium, post-confinement, post-acute care, or recuperative benefits on a prior institutionalization requirement. (b) (1) A long-term care insurance policy containing post-confinement, post-acute care, or recuperative benefits shall clearly label in a separate paragraph of the policy or certificate entitled "Limitations or Conditions on Eligibility for Benefits" the limitations or conditions, including any required number of days of confinement. (2) A long-term care insurance policy or rider that conditions eligibility for noninstitutional benefits on the prior receipt of institutional care shall not require a prior institutional stay of more than thirty (30) days. (c) No long-term care insurance policy or rider that provides benefits only following institutionalization shall condition such benefits upon admission to a facility for the same or related conditions within a period of less than thirty (30) days after discharge from the institution. Acts 2005, No. 1697, § 31.

(a) No long-term care insurance policy shall be delivered or issued for delivery in this state if the policy: (1) Conditions eligibility for any benefits on a prior hospitalization requirement; (2) Conditions eligibility for any benefits provided in an institutional care setting on the receipt of a higher level of institutional care; or (3) Conditions eligibility for any benefits other than waiver of premium, post-confinement, post-acute care, or recuperative benefits on a prior institutionalization requirement.

(1) Conditions eligibility for any benefits on a prior hospitalization requirement;

(2) Conditions eligibility for any benefits provided in an institutional care setting on the receipt of a higher level of institutional care; or

(3) Conditions eligibility for any benefits other than waiver of premium, post-confinement, post-acute care, or recuperative benefits on a prior institutionalization requirement.

(b) (1) A long-term care insurance policy containing post-confinement, post-acute care, or recuperative benefits shall clearly label in a separate paragraph of the policy or certificate entitled "Limitations or Conditions on Eligibility for Benefits" the limitations or conditions, including any required number of days of confinement. (2) A long-term care insurance policy or rider that conditions eligibility for noninstitutional benefits on the prior receipt of institutional care shall not require a prior institutional stay of more than thirty (30) days.

(1) A long-term care insurance policy containing post-confinement, post-acute care, or recuperative benefits shall clearly label in a separate paragraph of the policy or certificate entitled "Limitations or Conditions on Eligibility for Benefits" the limitations or conditions, including any required number of days of confinement.

(2) A long-term care insurance policy or rider that conditions eligibility for noninstitutional benefits on the prior receipt of institutional care shall not require a prior institutional stay of more than thirty (30) days.

(c) No long-term care insurance policy or rider that provides benefits only following institutionalization shall condition such benefits upon admission to a facility for the same or related conditions within a period of less than thirty (30) days after discharge from the institution.

Acts 2005, No. 1697, § 31.
Ark. Code Ann. § 23-4-419 — AR Code / Title 23 / Chapter 4 / Subchapter 4 / Section 23-4-419
Applications for additional increases
Status: in_force

(a) No public utility which has filed an application with the Arkansas Public Service Commission for a general increase in the utility rates charged by the utility shall be permitted by the commission to file an additional application for a general rate increase until thirty (30) days after the occurrence of whichever of the following events first occurs: (1) The commission makes a final rate determination as required by § 23-4-409 in the last previous general rate application then under consideration by the commission; or (2) The ten-month period following the filing of the utility's previous general rate application expires and no final rate determination has been made with respect to the utility's previous general rate application within the ten-month period. (b) However, an application for a change in rates filed pursuant to § 23-4-501 et seq. shall not be considered a general rate increase for the purposes of this section. (c) It is the intent and purpose of this section to expedite the orderly and speedy determination by the commission of public utility rate filing applications and to enable the commission to devote sufficient staff time and commission effort in regard thereto without being overburdened by additional rate filings by the same public utility until the rate application then under consideration has been considered and a final decision and order entered by the commission. Acts 1981 (Ex. Sess.), No. 24, §§ 1, 2; 1985, No. 339, § 1; A.S.A. 1947, §§ 73-217.7, 73-217.8.

(a) No public utility which has filed an application with the Arkansas Public Service Commission for a general increase in the utility rates charged by the utility shall be permitted by the commission to file an additional application for a general rate increase until thirty (30) days after the occurrence of whichever of the following events first occurs: (1) The commission makes a final rate determination as required by § 23-4-409 in the last previous general rate application then under consideration by the commission; or (2) The ten-month period following the filing of the utility's previous general rate application expires and no final rate determination has been made with respect to the utility's previous general rate application within the ten-month period.

(1) The commission makes a final rate determination as required by § 23-4-409 in the last previous general rate application then under consideration by the commission; or

(2) The ten-month period following the filing of the utility's previous general rate application expires and no final rate determination has been made with respect to the utility's previous general rate application within the ten-month period.

(b) However, an application for a change in rates filed pursuant to § 23-4-501 et seq. shall not be considered a general rate increase for the purposes of this section.

(c) It is the intent and purpose of this section to expedite the orderly and speedy determination by the commission of public utility rate filing applications and to enable the commission to devote sufficient staff time and commission effort in regard thereto without being overburdened by additional rate filings by the same public utility until the rate application then under consideration has been considered and a final decision and order entered by the commission.

Acts 1981 (Ex. Sess.), No. 24, §§ 1, 2; 1985, No. 339, § 1; A.S.A. 1947, §§ 73-217.7, 73-217.8.
Ark. Code Ann. § 23-36-110 — AR Code / Title 23 / Chapter 36 / Section 23-36-110
Loans insured by federal government
Status: in_force

(a) Subject to any rules which the Bank Commissioner finds to be necessary and proper, industrial loan institutions are authorized: (1) To make loans and advances of credit and purchases of obligations representing loans and advancement of credit which are insured by the Federal Housing Administrator and to obtain such insurance; (2) To make any loans secured by mortgages on real property which the administrator insures or makes a commitment to insure and to obtain such insurance; and (3) To purchase, invest in, and dispose of notes or bonds secured by mortgage or deed of trust which the administrator has insured or made a commitment to insure in debentures issued by the administrator or in securities issued by the national mortgage associations. (b) No law of this state prescribing the nature, amount, or form of security, or requiring security upon which such loans or advances of credit may be made, or prescribing or limiting the period for which loans or advances of credit may be made shall be deemed to apply to loans and advances of credit, or purchases made pursuant to subsection (a) of this section. Amended by Act 2019, No. 315,§ 2493, eff. 7/24/2019. Acts 1941, No. 111, § 14; A.S.A. 1947, § 67-1014.

(a) Subject to any rules which the Bank Commissioner finds to be necessary and proper, industrial loan institutions are authorized: (1) To make loans and advances of credit and purchases of obligations representing loans and advancement of credit which are insured by the Federal Housing Administrator and to obtain such insurance; (2) To make any loans secured by mortgages on real property which the administrator insures or makes a commitment to insure and to obtain such insurance; and (3) To purchase, invest in, and dispose of notes or bonds secured by mortgage or deed of trust which the administrator has insured or made a commitment to insure in debentures issued by the administrator or in securities issued by the national mortgage associations.

(1) To make loans and advances of credit and purchases of obligations representing loans and advancement of credit which are insured by the Federal Housing Administrator and to obtain such insurance;

(2) To make any loans secured by mortgages on real property which the administrator insures or makes a commitment to insure and to obtain such insurance; and

(3) To purchase, invest in, and dispose of notes or bonds secured by mortgage or deed of trust which the administrator has insured or made a commitment to insure in debentures issued by the administrator or in securities issued by the national mortgage associations.

(b) No law of this state prescribing the nature, amount, or form of security, or requiring security upon which such loans or advances of credit may be made, or prescribing or limiting the period for which loans or advances of credit may be made shall be deemed to apply to loans and advances of credit, or purchases made pursuant to subsection (a) of this section.

Amended by Act 2019, No. 315,§ 2493, eff. 7/24/2019.

Acts 1941, No. 111, § 14; A.S.A. 1947, § 67-1014.
Ark. Code Ann. § 23-63-1512 — AR Code / Title 23 / Chapter 63 / Subchapter 15 / Section 23-63-1512
Notices
Status: in_force

A notice by the Insurance Commissioner to a health organization that may result in regulatory action under this subchapter is effective upon: (1) Dispatch if transmitted by certified mail; or (2) The health organization's receipt of notice in the case of any other transmission. Acts 1999, No. 580, § 12; 2011, No. 760, § 5.

A notice by the Insurance Commissioner to a health organization that may result in regulatory action under this subchapter is effective upon:

(1) Dispatch if transmitted by certified mail; or

(2) The health organization's receipt of notice in the case of any other transmission.

Acts 1999, No. 580, § 12; 2011, No. 760, § 5.
Ark. Code Ann. § 23-4-622 — AR Code / Title 23 / Chapter 4 / Subchapter 6 / Section 23-4-622
Investigation of rate changes
Status: in_force

Whenever there is filed with the Arkansas Department of Transportation by any public utility any schedule stating a new rate, the department, either upon complaint or upon its own motion and upon reasonable notice, may enter upon any investigation concerning the lawfulness of the rates. Amended by Act 2017, No. 707,§ 120, eff. 8/1/2017. Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.

Whenever there is filed with the Arkansas Department of Transportation by any public utility any schedule stating a new rate, the department, either upon complaint or upon its own motion and upon reasonable notice, may enter upon any investigation concerning the lawfulness of the rates.

Amended by Act 2017, No. 707,§ 120, eff. 8/1/2017.

Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.