Ark. Code Ann. § 23-76-131 — AR Code / Title 23 / Chapter 76 / Section 23-76-131
Tax on premiums and copayments
Status: in_force

(a) (1) (A) (i) Each health maintenance organization shall pay a tax on the premiums for coverages provided during the calendar year. (ii) The tax shall be paid on an annual basis and on a quarterly estimate basis as prescribed by the Insurance Commissioner and reconciled at the time of filing the annual statement. (B) The taxes due from licensed health maintenance organizations under this section shall be computed on net direct written premiums at the rate described in this section and in §§ 26-57-603 and 26-57-604 . (C) (i) Further, the premium taxes at the same rate due under this section for health maintenance organization copayments shall only be computed, reported, and paid on the copayments actually received and collected by the health maintenance organization. (ii) Copayments paid by the patient directly to the doctor, hospital, or other medical providers shall not be subject to taxation. (2) (A) The tax shall be paid to the Treasurer of State through the commissioner as a tax imposed for the privilege of transacting business in this state. (B) The tax shall be computed at the rate of two and one-half percent (21/2%), except as provided in subsection (b) of this section. (3) (A) The taxes shall be paid on a quarterly estimate basis as prescribed by the commissioner and reconciled annually at the time of filing the annual statement. (B) In his or her discretion, the commissioner may suspend or revoke the certificate of authority of any health maintenance organization that fails to pay the tax levied under this section on the date due or during any reasonable extension of time therefor which may have been expressly granted by the commissioner for good cause upon the health maintenance organization's request. (b) (1) For health maintenance organizations maintaining a home office or a regional office in this state, the tax shall be computed at the rate of two and one-half percent (21/2%), except for the credit as provided in § 26-57-604 . For purposes of this subsection, any office in this state shall be deemed a health maintenance organization's home or regional office if the office performs substantially the following functions in this state: (A) Underwriting; (B) Medical; (C) Legal; (D) Issuance of certificates or contracts; (E) Claims servicing, information, and service; (F) Advertising and publications; (G) Public relations; and (H) Hiring, testing, and training of sales or service forces. (2) On or before March 1 of each year, any health maintenance organization desiring to qualify an office in this state as a home or regional office shall furnish to the commissioner on forms prescribed by the commissioner proof that it is operating a home or regional office in this state. (c) The commissioner shall deposit all taxes collected under this section into the State Treasury as general revenues. Acts 1987, No. 1033, § 3; 1999, No. 881, § 12.

(a) (1) (A) (i) Each health maintenance organization shall pay a tax on the premiums for coverages provided during the calendar year. (ii) The tax shall be paid on an annual basis and on a quarterly estimate basis as prescribed by the Insurance Commissioner and reconciled at the time of filing the annual statement. (B) The taxes due from licensed health maintenance organizations under this section shall be computed on net direct written premiums at the rate described in this section and in §§ 26-57-603 and 26-57-604 . (C) (i) Further, the premium taxes at the same rate due under this section for health maintenance organization copayments shall only be computed, reported, and paid on the copayments actually received and collected by the health maintenance organization. (ii) Copayments paid by the patient directly to the doctor, hospital, or other medical providers shall not be subject to taxation. (2) (A) The tax shall be paid to the Treasurer of State through the commissioner as a tax imposed for the privilege of transacting business in this state. (B) The tax shall be computed at the rate of two and one-half percent (21/2%), except as provided in subsection (b) of this section. (3) (A) The taxes shall be paid on a quarterly estimate basis as prescribed by the commissioner and reconciled annually at the time of filing the annual statement. (B) In his or her discretion, the commissioner may suspend or revoke the certificate of authority of any health maintenance organization that fails to pay the tax levied under this section on the date due or during any reasonable extension of time therefor which may have been expressly granted by the commissioner for good cause upon the health maintenance organization's request.

(1) (A) (i) Each health maintenance organization shall pay a tax on the premiums for coverages provided during the calendar year. (ii) The tax shall be paid on an annual basis and on a quarterly estimate basis as prescribed by the Insurance Commissioner and reconciled at the time of filing the annual statement. (B) The taxes due from licensed health maintenance organizations under this section shall be computed on net direct written premiums at the rate described in this section and in §§ 26-57-603 and 26-57-604 . (C) (i) Further, the premium taxes at the same rate due under this section for health maintenance organization copayments shall only be computed, reported, and paid on the copayments actually received and collected by the health maintenance organization. (ii) Copayments paid by the patient directly to the doctor, hospital, or other medical providers shall not be subject to taxation.

(A) (i) Each health maintenance organization shall pay a tax on the premiums for coverages provided during the calendar year. (ii) The tax shall be paid on an annual basis and on a quarterly estimate basis as prescribed by the Insurance Commissioner and reconciled at the time of filing the annual statement.

(i) Each health maintenance organization shall pay a tax on the premiums for coverages provided during the calendar year.

(ii) The tax shall be paid on an annual basis and on a quarterly estimate basis as prescribed by the Insurance Commissioner and reconciled at the time of filing the annual statement.

(B) The taxes due from licensed health maintenance organizations under this section shall be computed on net direct written premiums at the rate described in this section and in §§ 26-57-603 and 26-57-604 .

(C) (i) Further, the premium taxes at the same rate due under this section for health maintenance organization copayments shall only be computed, reported, and paid on the copayments actually received and collected by the health maintenance organization. (ii) Copayments paid by the patient directly to the doctor, hospital, or other medical providers shall not be subject to taxation.

(i) Further, the premium taxes at the same rate due under this section for health maintenance organization copayments shall only be computed, reported, and paid on the copayments actually received and collected by the health maintenance organization.

(ii) Copayments paid by the patient directly to the doctor, hospital, or other medical providers shall not be subject to taxation.

(2) (A) The tax shall be paid to the Treasurer of State through the commissioner as a tax imposed for the privilege of transacting business in this state. (B) The tax shall be computed at the rate of two and one-half percent (21/2%), except as provided in subsection (b) of this section.

(A) The tax shall be paid to the Treasurer of State through the commissioner as a tax imposed for the privilege of transacting business in this state.

(B) The tax shall be computed at the rate of two and one-half percent (21/2%), except as provided in subsection (b) of this section.

(3) (A) The taxes shall be paid on a quarterly estimate basis as prescribed by the commissioner and reconciled annually at the time of filing the annual statement. (B) In his or her discretion, the commissioner may suspend or revoke the certificate of authority of any health maintenance organization that fails to pay the tax levied under this section on the date due or during any reasonable extension of time therefor which may have been expressly granted by the commissioner for good cause upon the health maintenance organization's request.

(A) The taxes shall be paid on a quarterly estimate basis as prescribed by the commissioner and reconciled annually at the time of filing the annual statement.

(B) In his or her discretion, the commissioner may suspend or revoke the certificate of authority of any health maintenance organization that fails to pay the tax levied under this section on the date due or during any reasonable extension of time therefor which may have been expressly granted by the commissioner for good cause upon the health maintenance organization's request.

(b) (1) For health maintenance organizations maintaining a home office or a regional office in this state, the tax shall be computed at the rate of two and one-half percent (21/2%), except for the credit as provided in § 26-57-604 . For purposes of this subsection, any office in this state shall be deemed a health maintenance organization's home or regional office if the office performs substantially the following functions in this state: (A) Underwriting; (B) Medical; (C) Legal; (D) Issuance of certificates or contracts; (E) Claims servicing, information, and service; (F) Advertising and publications; (G) Public relations; and (H) Hiring, testing, and training of sales or service forces. (2) On or before March 1 of each year, any health maintenance organization desiring to qualify an office in this state as a home or regional office shall furnish to the commissioner on forms prescribed by the commissioner proof that it is operating a home or regional office in this state.

(1) For health maintenance organizations maintaining a home office or a regional office in this state, the tax shall be computed at the rate of two and one-half percent (21/2%), except for the credit as provided in § 26-57-604 . For purposes of this subsection, any office in this state shall be deemed a health maintenance organization's home or regional office if the office performs substantially the following functions in this state: (A) Underwriting; (B) Medical; (C) Legal; (D) Issuance of certificates or contracts; (E) Claims servicing, information, and service; (F) Advertising and publications; (G) Public relations; and (H) Hiring, testing, and training of sales or service forces.

(A) Underwriting;

(B) Medical;

(C) Legal;

(D) Issuance of certificates or contracts;

(E) Claims servicing, information, and service;

(F) Advertising and publications;

(G) Public relations; and

(H) Hiring, testing, and training of sales or service forces.

(2) On or before March 1 of each year, any health maintenance organization desiring to qualify an office in this state as a home or regional office shall furnish to the commissioner on forms prescribed by the commissioner proof that it is operating a home or regional office in this state.

(c) The commissioner shall deposit all taxes collected under this section into the State Treasury as general revenues.

Acts 1987, No. 1033, § 3; 1999, No. 881, § 12.
Ark. Code Ann. § 23-63-525 — AR Code / Title 23 / Chapter 63 / Subchapter 5 / Section 23-63-525
Acquisitions involving insurers not otherwise covered - Definitions
Status: in_force

The following definitions shall apply for the purposes of §§ 23-63-525 - 23-63-530 only: (1) "Acquisition" means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes, but is not limited to, the acquisition of voting securities, the acquisition of assets, bulk reinsurance, and mergers; and (2) An "involved insurer" includes an insurer which either acquires or is acquired, is affiliated with an acquirer or acquired, or is the result of a merger. Acts 1991, No. 723, § 29.

The following definitions shall apply for the purposes of §§ 23-63-525 - 23-63-530 only:

(1) "Acquisition" means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes, but is not limited to, the acquisition of voting securities, the acquisition of assets, bulk reinsurance, and mergers; and

(2) An "involved insurer" includes an insurer which either acquires or is acquired, is affiliated with an acquirer or acquired, or is the result of a merger.

Acts 1991, No. 723, § 29.
Ark. Code Ann. § 23-111-101 — AR Code / Title 23 / Chapter 111 / Subchapter 1 / Section 23-111-101
Title
Status: in_force

This chapter shall be referred to and may be cited as the "Arkansas Greyhound Racing Law". Acts 1957, No. 191, § 1; A.S.A. 1947, § 84-2816.

This chapter shall be referred to and may be cited as the "Arkansas Greyhound Racing Law".

Acts 1957, No. 191, § 1; A.S.A. 1947, § 84-2816.
Ark. Code Ann. § 23-13-232 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-232
Certificates, permits, and licenses - Transfer, assignment, etc
Status: in_force

(a) Certificates, permits, and licenses shall not be assigned, transferred, or hypothecated in any manner, nor shall the operation under any such permit, certificate, or license be leased without authority of the Arkansas Department of Transportation and on written application, and after ten (10) days' notice, to parties in interest and hearing. (b) The transfer, lease, assignment, or hypothecation of the permits, certificates, or licenses shall not be authorized when the department finds the action will be inconsistent with the public interest or will have the effect of destroying competition or creating a monopoly, nor where it appears that reasonably continuous service under the authority or that part of the authority granted by the permit, certificate, or license which is sought to be transferred has not been rendered prior to the application for transfer, assignment, or hypothecation. (c) (1) All applications for transfer must be made on proper forms prescribed by the department. (2) There must be attached to such application for a transfer of a certificate, permit, or license a joint affidavit executed by the vendor and vendee certifying that all accrued taxes, station rents, wages of employees, and all other indebtedness incident to the vendor's operation have been paid in full or, if such is not the case, will be assumed by the vendee. Provided, the provisions of this subsection shall not apply in any respect to either the vendor or the vendee, where the vendor has filed for protection under the federal bankruptcy laws and is transferring the authority as part of a reorganization or liquidation under an order directing the sale entered under the federal bankruptcy laws. (d) Every such application for the transfer of a certificate or permit shall be accompanied by a certified check or money order in the amount of fifty dollars ($50.00) made payable to the department. 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 2017, No. 707,§ 205, eff. 8/1/2017. Acts 1955, No. 397, § 14; 1983, No. 565, § 4; A.S.A. 1947, § 73-1767; Acts 1992 (1st Ex. Sess.), No. 35, § 1.

(a) Certificates, permits, and licenses shall not be assigned, transferred, or hypothecated in any manner, nor shall the operation under any such permit, certificate, or license be leased without authority of the Arkansas Department of Transportation and on written application, and after ten (10) days' notice, to parties in interest and hearing.

(b) The transfer, lease, assignment, or hypothecation of the permits, certificates, or licenses shall not be authorized when the department finds the action will be inconsistent with the public interest or will have the effect of destroying competition or creating a monopoly, nor where it appears that reasonably continuous service under the authority or that part of the authority granted by the permit, certificate, or license which is sought to be transferred has not been rendered prior to the application for transfer, assignment, or hypothecation.

(c) (1) All applications for transfer must be made on proper forms prescribed by the department. (2) There must be attached to such application for a transfer of a certificate, permit, or license a joint affidavit executed by the vendor and vendee certifying that all accrued taxes, station rents, wages of employees, and all other indebtedness incident to the vendor's operation have been paid in full or, if such is not the case, will be assumed by the vendee. Provided, the provisions of this subsection shall not apply in any respect to either the vendor or the vendee, where the vendor has filed for protection under the federal bankruptcy laws and is transferring the authority as part of a reorganization or liquidation under an order directing the sale entered under the federal bankruptcy laws.

(1) All applications for transfer must be made on proper forms prescribed by the department.

(2) There must be attached to such application for a transfer of a certificate, permit, or license a joint affidavit executed by the vendor and vendee certifying that all accrued taxes, station rents, wages of employees, and all other indebtedness incident to the vendor's operation have been paid in full or, if such is not the case, will be assumed by the vendee. Provided, the provisions of this subsection shall not apply in any respect to either the vendor or the vendee, where the vendor has filed for protection under the federal bankruptcy laws and is transferring the authority as part of a reorganization or liquidation under an order directing the sale entered under the federal bankruptcy laws.

(d) Every such application for the transfer of a certificate or permit shall be accompanied by a certified check or money order in the amount of fifty dollars ($50.00) made payable to the department. 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 2017, No. 707,§ 205, eff. 8/1/2017.

Acts 1955, No. 397, § 14; 1983, No. 565, § 4; A.S.A. 1947, § 73-1767; Acts 1992 (1st Ex. Sess.), No. 35, § 1.
Ark. Code Ann. § 23-17-509 — AR Code / Title 23 / Chapter 17 / Subchapter 5 / Section 23-17-509
Collocation on authority poles
Status: in_force

(a) This section applies to activities of a wireless provider collocating small wireless facilities on authority poles in the authority's right-of-way or in a right-of-way controlled by the Arkansas Department of Transportation located within an authority. (b) (1) A person owning, managing, or controlling authority poles in the right-of-way shall not enter into an exclusive arrangement with any person for the right to attach to the poles. (2) A person who purchases or otherwise acquires an authority pole is subject to the requirements of this section. (c) An authority shall allow the collocation of small wireless facilities on authority poles on nondiscriminatory terms and conditions using the process in § 23-17-510 . (d) The rate to collocate on authority poles is provided in § 23-17-511 . (e) (1) (A) As part of an application to collocate a small wireless facility on an authority pole, the wireless provider shall submit make-ready design drawings and work descriptions that enable the pole to support the requested collocation by the wireless provider, including pole replacement if necessary. (B) An authority may amend the make-ready design drawings and work to comply with applicable codes before the issuance of a permit to the extent reasonably necessary. (2) The rates, fees, and terms and conditions for the make-ready work to collocate on an authority pole shall be nondiscriminatory, competitively neutral, and commercially reasonable and shall comply with this subchapter. (3) The authority shall not require more make-ready work than required to meet applicable codes or industry standards nor may the fees for make-ready work include costs related to preexisting or prior damage or noncompliance. (4) (A) An authority may require replacement of an authority pole only if the collocation would make the authority pole structurally unsound. (B) The authority may require that the replaced authority pole have the same functionality as the pole being replaced. (C) If the authority pole is replaced, the authority shall take ownership of the new pole and operate authority fixtures on the pole. (5) (A) Make-ready fees charged by an authority may include the amount the authority pays a professional engineer registered in Arkansas to review the wireless provider's make-ready work plans. (B) Fees for make-ready work shall not include any revenue or contingency-based consultant's fees or expenses of any kind. (6) Within sixty (60) days of the receipt of the application filed to collocate on an authority pole, the authority shall elect to: (A) Perform the make-ready work necessary to enable the pole to support the requested collocation by a wireless provider and provide a good-faith estimate for the work, including pole replacement, if necessary; or (B) Authorize the wireless provider to perform the make-ready work. (7) (A) The authority shall complete make-ready work it elects to perform, including any pole replacement, within sixty (60) days of written acceptance of the good-faith estimate of the applicant. (B) If the authority electing to perform the make-ready work has not completed the work within sixty (60) days after the written acceptance and deposit of the good-faith estimate by the applicant, the applicant may demand a return of any deposited funds and proceed with the make-ready work as described in subdivision (e)(1)(A) of this section, using authorized, qualified contractors approved by the authority with the authorization not to be unreasonably withheld, conditioned, or delayed. (f) (1) An authority may reserve space on an authority pole for future public safety or transportation uses in a documented and approved plan in place at the time an application is filed. (2) A reservation of space shall not preclude placement of a pole or collocation of a small wireless facility. (3) If replacement of the authority's pole is necessary to accommodate the collocation of the small wireless facility and future use, the wireless provider shall pay for the replacement of the authority pole, and the replaced pole shall accommodate future use. Added by Act 2019, No. 999,§ 1, eff. 9/1/2019. Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.

(a) This section applies to activities of a wireless provider collocating small wireless facilities on authority poles in the authority's right-of-way or in a right-of-way controlled by the Arkansas Department of Transportation located within an authority.

(b) (1) A person owning, managing, or controlling authority poles in the right-of-way shall not enter into an exclusive arrangement with any person for the right to attach to the poles. (2) A person who purchases or otherwise acquires an authority pole is subject to the requirements of this section.

(1) A person owning, managing, or controlling authority poles in the right-of-way shall not enter into an exclusive arrangement with any person for the right to attach to the poles.

(2) A person who purchases or otherwise acquires an authority pole is subject to the requirements of this section.

(c) An authority shall allow the collocation of small wireless facilities on authority poles on nondiscriminatory terms and conditions using the process in § 23-17-510 .

(d) The rate to collocate on authority poles is provided in § 23-17-511 .

(e) (1) (A) As part of an application to collocate a small wireless facility on an authority pole, the wireless provider shall submit make-ready design drawings and work descriptions that enable the pole to support the requested collocation by the wireless provider, including pole replacement if necessary. (B) An authority may amend the make-ready design drawings and work to comply with applicable codes before the issuance of a permit to the extent reasonably necessary. (2) The rates, fees, and terms and conditions for the make-ready work to collocate on an authority pole shall be nondiscriminatory, competitively neutral, and commercially reasonable and shall comply with this subchapter. (3) The authority shall not require more make-ready work than required to meet applicable codes or industry standards nor may the fees for make-ready work include costs related to preexisting or prior damage or noncompliance. (4) (A) An authority may require replacement of an authority pole only if the collocation would make the authority pole structurally unsound. (B) The authority may require that the replaced authority pole have the same functionality as the pole being replaced. (C) If the authority pole is replaced, the authority shall take ownership of the new pole and operate authority fixtures on the pole. (5) (A) Make-ready fees charged by an authority may include the amount the authority pays a professional engineer registered in Arkansas to review the wireless provider's make-ready work plans. (B) Fees for make-ready work shall not include any revenue or contingency-based consultant's fees or expenses of any kind. (6) Within sixty (60) days of the receipt of the application filed to collocate on an authority pole, the authority shall elect to: (A) Perform the make-ready work necessary to enable the pole to support the requested collocation by a wireless provider and provide a good-faith estimate for the work, including pole replacement, if necessary; or (B) Authorize the wireless provider to perform the make-ready work. (7) (A) The authority shall complete make-ready work it elects to perform, including any pole replacement, within sixty (60) days of written acceptance of the good-faith estimate of the applicant. (B) If the authority electing to perform the make-ready work has not completed the work within sixty (60) days after the written acceptance and deposit of the good-faith estimate by the applicant, the applicant may demand a return of any deposited funds and proceed with the make-ready work as described in subdivision (e)(1)(A) of this section, using authorized, qualified contractors approved by the authority with the authorization not to be unreasonably withheld, conditioned, or delayed.

(1) (A) As part of an application to collocate a small wireless facility on an authority pole, the wireless provider shall submit make-ready design drawings and work descriptions that enable the pole to support the requested collocation by the wireless provider, including pole replacement if necessary. (B) An authority may amend the make-ready design drawings and work to comply with applicable codes before the issuance of a permit to the extent reasonably necessary.

(A) As part of an application to collocate a small wireless facility on an authority pole, the wireless provider shall submit make-ready design drawings and work descriptions that enable the pole to support the requested collocation by the wireless provider, including pole replacement if necessary.

(B) An authority may amend the make-ready design drawings and work to comply with applicable codes before the issuance of a permit to the extent reasonably necessary.

(2) The rates, fees, and terms and conditions for the make-ready work to collocate on an authority pole shall be nondiscriminatory, competitively neutral, and commercially reasonable and shall comply with this subchapter.

(3) The authority shall not require more make-ready work than required to meet applicable codes or industry standards nor may the fees for make-ready work include costs related to preexisting or prior damage or noncompliance.

(4) (A) An authority may require replacement of an authority pole only if the collocation would make the authority pole structurally unsound. (B) The authority may require that the replaced authority pole have the same functionality as the pole being replaced. (C) If the authority pole is replaced, the authority shall take ownership of the new pole and operate authority fixtures on the pole.

(A) An authority may require replacement of an authority pole only if the collocation would make the authority pole structurally unsound.

(B) The authority may require that the replaced authority pole have the same functionality as the pole being replaced.

(C) If the authority pole is replaced, the authority shall take ownership of the new pole and operate authority fixtures on the pole.

(5) (A) Make-ready fees charged by an authority may include the amount the authority pays a professional engineer registered in Arkansas to review the wireless provider's make-ready work plans. (B) Fees for make-ready work shall not include any revenue or contingency-based consultant's fees or expenses of any kind.

(A) Make-ready fees charged by an authority may include the amount the authority pays a professional engineer registered in Arkansas to review the wireless provider's make-ready work plans.

(B) Fees for make-ready work shall not include any revenue or contingency-based consultant's fees or expenses of any kind.

(6) Within sixty (60) days of the receipt of the application filed to collocate on an authority pole, the authority shall elect to: (A) Perform the make-ready work necessary to enable the pole to support the requested collocation by a wireless provider and provide a good-faith estimate for the work, including pole replacement, if necessary; or (B) Authorize the wireless provider to perform the make-ready work.

(A) Perform the make-ready work necessary to enable the pole to support the requested collocation by a wireless provider and provide a good-faith estimate for the work, including pole replacement, if necessary; or

(B) Authorize the wireless provider to perform the make-ready work.

(7) (A) The authority shall complete make-ready work it elects to perform, including any pole replacement, within sixty (60) days of written acceptance of the good-faith estimate of the applicant. (B) If the authority electing to perform the make-ready work has not completed the work within sixty (60) days after the written acceptance and deposit of the good-faith estimate by the applicant, the applicant may demand a return of any deposited funds and proceed with the make-ready work as described in subdivision (e)(1)(A) of this section, using authorized, qualified contractors approved by the authority with the authorization not to be unreasonably withheld, conditioned, or delayed.

(A) The authority shall complete make-ready work it elects to perform, including any pole replacement, within sixty (60) days of written acceptance of the good-faith estimate of the applicant.

(B) If the authority electing to perform the make-ready work has not completed the work within sixty (60) days after the written acceptance and deposit of the good-faith estimate by the applicant, the applicant may demand a return of any deposited funds and proceed with the make-ready work as described in subdivision (e)(1)(A) of this section, using authorized, qualified contractors approved by the authority with the authorization not to be unreasonably withheld, conditioned, or delayed.

(f) (1) An authority may reserve space on an authority pole for future public safety or transportation uses in a documented and approved plan in place at the time an application is filed. (2) A reservation of space shall not preclude placement of a pole or collocation of a small wireless facility. (3) If replacement of the authority's pole is necessary to accommodate the collocation of the small wireless facility and future use, the wireless provider shall pay for the replacement of the authority pole, and the replaced pole shall accommodate future use.

(1) An authority may reserve space on an authority pole for future public safety or transportation uses in a documented and approved plan in place at the time an application is filed.

(2) A reservation of space shall not preclude placement of a pole or collocation of a small wireless facility.

(3) If replacement of the authority's pole is necessary to accommodate the collocation of the small wireless facility and future use, the wireless provider shall pay for the replacement of the authority pole, and the replaced pole shall accommodate future use.

Added by Act 2019, No. 999,§ 1, eff. 9/1/2019.

Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.
Ark. Code Ann. § 23-1-105 — AR Code / Title 23 / Chapter 1 / Section 23-1-105
False testimony or reports - False or misleading records, memoranda, etc. - Penalty
Status: in_force

Any person who gives false testimony at any hearing held by the commission, a commissioner, or an examiner or who makes false reports to the commission, when the testimony and reports are required by this act or any lawful order or rule of the commission, who makes any false entries upon the books or records of any public utility, or who makes or preserves any false or misleading vouchers, memoranda, or records showing the nature of, or purpose for, the disbursement of funds of public utilities, shall be deemed guilty of a felony and upon conviction shall be confined in the penitentiary for a period of not less than one (1) year nor more than ten (10) years for every offense. Acts 1935, No. 324, § 61; Pope's Dig., § 2121; A.S.A. 1947, § 73-257.

Any person who gives false testimony at any hearing held by the commission, a commissioner, or an examiner or who makes false reports to the commission, when the testimony and reports are required by this act or any lawful order or rule of the commission, who makes any false entries upon the books or records of any public utility, or who makes or preserves any false or misleading vouchers, memoranda, or records showing the nature of, or purpose for, the disbursement of funds of public utilities, shall be deemed guilty of a felony and upon conviction shall be confined in the penitentiary for a period of not less than one (1) year nor more than ten (10) years for every offense.

Acts 1935, No. 324, § 61; Pope's Dig., § 2121; A.S.A. 1947, § 73-257.
Ark. Code Ann. § 23-14-109 — AR Code / Title 23 / Chapter 14 / Section 23-14-109
Certificates required
Status: in_force

No person shall engage in the business of a common carrier by aircraft unless there is in force a certificate issued by the Arkansas Department of Transportation authorizing the person to engage in that business. Amended by Act 2017, No. 707,§ 239, eff. 8/1/2017. Acts 1945, No. 252, § 5; A.S.A. 1947, § 74-405.

No person shall engage in the business of a common carrier by aircraft unless there is in force a certificate issued by the Arkansas Department of Transportation authorizing the person to engage in that business.

Amended by Act 2017, No. 707,§ 239, eff. 8/1/2017.

Acts 1945, No. 252, § 5; A.S.A. 1947, § 74-405.
Ark. Code Ann. § 23-64-223 — AR Code / Title 23 / Chapter 64 / Subchapter 2 / Section 23-64-223
Fiduciary duties of licensees
Status: in_force

(a) All funds, fees, moneys, premiums, or return premiums received by a licensee in the capacity as a licensee shall be trust funds so received by the licensee in a fiduciary capacity, and the licensee shall in the applicable regular course of business account for and pay these funds, fees, moneys, premiums, or return premiums to the insured, insurer, licensee, or any other person entitled thereto. (b) Any licensee who, not being lawfully entitled thereto, diverts or appropriates those funds or any portion thereof to his or her own use shall upon conviction be guilty of theft of property and shall be punished as provided by law. Acts 1959, No. 148, § 174; 1985, No. 804, § 14; A.S.A. 1947, § 66-2831; Acts 1997, No. 1004, § 1.

(a) All funds, fees, moneys, premiums, or return premiums received by a licensee in the capacity as a licensee shall be trust funds so received by the licensee in a fiduciary capacity, and the licensee shall in the applicable regular course of business account for and pay these funds, fees, moneys, premiums, or return premiums to the insured, insurer, licensee, or any other person entitled thereto.

(b) Any licensee who, not being lawfully entitled thereto, diverts or appropriates those funds or any portion thereof to his or her own use shall upon conviction be guilty of theft of property and shall be punished as provided by law.

Acts 1959, No. 148, § 174; 1985, No. 804, § 14; A.S.A. 1947, § 66-2831; Acts 1997, No. 1004, § 1.
Ark. Code Ann. § 23-102-114 — AR Code / Title 23 / Chapter 102 / Section 23-102-114
Notice and declination
Status: in_force

(a) Existing Policyholders. (1) (A) Insurers writing homeowner, farmowner, fire and allied lines, excluding commercial policies and crop hail, shall notify policyholders who do not maintain residential earthquake insurance or who maintain residential earthquake insurance at amounts less than one hundred percent (100%) of the insured value of the dwelling, of their potential eligibility for residential earthquake insurance through the Market Assistance Program or the Arkansas Earthquake Authority. (B) The notice shall be on a form adopted by the Board of the Arkansas Earthquake Authority and approved by the Insurance Commissioner, and insurers shall verify to the board compliance with this provision. (C) The notice shall be provided at such intervals and frequency to be determined by the board, but notice shall be given at a minimum of three (3) different times over a four-year interval. (2) This notice from insurers shall not be deemed to provide earthquake coverage to existing policyholders who do not maintain a policy of residential earthquake insurance, nor shall the notice be deemed to increase the amounts of earthquake insurance for those policyholders who maintain coverage at less than one hundred percent (100%) of the insured value of the dwelling. (b) New Policyholders. (1) Insurers writing homeowner, farmowner, and fire and allied lines, excluding commercial policies and crop hail, shall advise new applicants for these types of coverage of the availability of residential earthquake insurance through the program or the authority, if coverage is unavailable from the insurer. (2) At the time of application, if an applicant chooses not to purchase residential earthquake coverage through an insurer, including program participants or the authority, the applicant shall reject this coverage in writing on the application or any addendum thereto. (3) Insurers shall maintain the application and any addendum thereto containing the rejection as part of the insurers' files. Amended by Act 2015, No. 1210,§ 8, eff. 7/22/2015. Acts 1999, No. 1343, § 14.

(a) Existing Policyholders. (1) (A) Insurers writing homeowner, farmowner, fire and allied lines, excluding commercial policies and crop hail, shall notify policyholders who do not maintain residential earthquake insurance or who maintain residential earthquake insurance at amounts less than one hundred percent (100%) of the insured value of the dwelling, of their potential eligibility for residential earthquake insurance through the Market Assistance Program or the Arkansas Earthquake Authority. (B) The notice shall be on a form adopted by the Board of the Arkansas Earthquake Authority and approved by the Insurance Commissioner, and insurers shall verify to the board compliance with this provision. (C) The notice shall be provided at such intervals and frequency to be determined by the board, but notice shall be given at a minimum of three (3) different times over a four-year interval. (2) This notice from insurers shall not be deemed to provide earthquake coverage to existing policyholders who do not maintain a policy of residential earthquake insurance, nor shall the notice be deemed to increase the amounts of earthquake insurance for those policyholders who maintain coverage at less than one hundred percent (100%) of the insured value of the dwelling.

(1) (A) Insurers writing homeowner, farmowner, fire and allied lines, excluding commercial policies and crop hail, shall notify policyholders who do not maintain residential earthquake insurance or who maintain residential earthquake insurance at amounts less than one hundred percent (100%) of the insured value of the dwelling, of their potential eligibility for residential earthquake insurance through the Market Assistance Program or the Arkansas Earthquake Authority. (B) The notice shall be on a form adopted by the Board of the Arkansas Earthquake Authority and approved by the Insurance Commissioner, and insurers shall verify to the board compliance with this provision. (C) The notice shall be provided at such intervals and frequency to be determined by the board, but notice shall be given at a minimum of three (3) different times over a four-year interval.

(A) Insurers writing homeowner, farmowner, fire and allied lines, excluding commercial policies and crop hail, shall notify policyholders who do not maintain residential earthquake insurance or who maintain residential earthquake insurance at amounts less than one hundred percent (100%) of the insured value of the dwelling, of their potential eligibility for residential earthquake insurance through the Market Assistance Program or the Arkansas Earthquake Authority.

(B) The notice shall be on a form adopted by the Board of the Arkansas Earthquake Authority and approved by the Insurance Commissioner, and insurers shall verify to the board compliance with this provision.

(C) The notice shall be provided at such intervals and frequency to be determined by the board, but notice shall be given at a minimum of three (3) different times over a four-year interval.

(2) This notice from insurers shall not be deemed to provide earthquake coverage to existing policyholders who do not maintain a policy of residential earthquake insurance, nor shall the notice be deemed to increase the amounts of earthquake insurance for those policyholders who maintain coverage at less than one hundred percent (100%) of the insured value of the dwelling.

(b) New Policyholders. (1) Insurers writing homeowner, farmowner, and fire and allied lines, excluding commercial policies and crop hail, shall advise new applicants for these types of coverage of the availability of residential earthquake insurance through the program or the authority, if coverage is unavailable from the insurer. (2) At the time of application, if an applicant chooses not to purchase residential earthquake coverage through an insurer, including program participants or the authority, the applicant shall reject this coverage in writing on the application or any addendum thereto. (3) Insurers shall maintain the application and any addendum thereto containing the rejection as part of the insurers' files.

(1) Insurers writing homeowner, farmowner, and fire and allied lines, excluding commercial policies and crop hail, shall advise new applicants for these types of coverage of the availability of residential earthquake insurance through the program or the authority, if coverage is unavailable from the insurer.

(2) At the time of application, if an applicant chooses not to purchase residential earthquake coverage through an insurer, including program participants or the authority, the applicant shall reject this coverage in writing on the application or any addendum thereto.

(3) Insurers shall maintain the application and any addendum thereto containing the rejection as part of the insurers' files.

Amended by Act 2015, No. 1210,§ 8, eff. 7/22/2015.

Acts 1999, No. 1343, § 14.
Ark. Code Ann. § 23-63-825 — AR Code / Title 23 / Chapter 63 / Subchapter 8 / Section 23-63-825
Additional investment authority
Status: in_force

(a) (1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subsection or elsewhere in the Arkansas Insurance Code, or engage in investment practices, without regard to any aggregate limitation in this subchapter, but an insurer shall not admit an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments then held by the insurer under this section would exceed the lesser of: (A) Ten percent (10%) of its admitted assets; or (B) Seventy-five percent (75%) of its total capital and surplus. (2) This additional authority shall not apply to the following investments: (A) Medium grade or lower grade-rated credit instruments; (B) Mortgages or mortgage loans; (C) Total of real estate, both home office and real estate held for investment income, except with the Insurance Commissioner's advance approval; (D) Foreign investments and foreign currency exposures; and (E) Derivatives. (3) As used in subsection (a) of this section, "insurer" means licensed domestic life and/or accident and health insurers or other licensed domestic reporting entities which transact life and/or accident or health contracts or plans in this state. (b) (1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subchapter, or engage in investment practices, without regard to any aggregate limitation in this subchapter, but an insurer shall not admit an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments then held by the insurer under this section would exceed the lesser of: (A) Ten percent (10%) of its admitted assets; or (B) Seventy-five percent (75%) of its total capital and surplus. (2) This additional authority shall not apply to the following investments: (A) Medium grade or lower grade-rated credit instruments; (B) Equity interests; (C) Mortgages or mortgage loans; (D) Total of real estate, both home office and real estate held for investment income, except with the commissioner's advance approval; (E) Foreign investments and foreign currency exposures; and (F) Derivatives. (4) As used in subsection (b) of this section, "insurer" means domestic property, casualty, surety and/or marine, financial guaranty, and mortgage guaranty insurers, and domestic insurers transacting title insurance. (c) If upon enactment, the immediate application of the provisions of this section would have the effect of reducing the admitted asset value of assets held by a particular insurer, the insurer may continue to reflect as admitted those assets that would be admissible but for the enactment of the provisions of this section, until December 31, 2004. Acts 1959, No. 148, § 121; 1983, No. 522, § 9; 1985, No. 804, § 29; A.S.A. 1947, § 66-2625; Acts 1993, No. 527, § 12; 2001, No. 1604, § 36.

(a) (1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subsection or elsewhere in the Arkansas Insurance Code, or engage in investment practices, without regard to any aggregate limitation in this subchapter, but an insurer shall not admit an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments then held by the insurer under this section would exceed the lesser of: (A) Ten percent (10%) of its admitted assets; or (B) Seventy-five percent (75%) of its total capital and surplus. (2) This additional authority shall not apply to the following investments: (A) Medium grade or lower grade-rated credit instruments; (B) Mortgages or mortgage loans; (C) Total of real estate, both home office and real estate held for investment income, except with the Insurance Commissioner's advance approval; (D) Foreign investments and foreign currency exposures; and (E) Derivatives. (3) As used in subsection (a) of this section, "insurer" means licensed domestic life and/or accident and health insurers or other licensed domestic reporting entities which transact life and/or accident or health contracts or plans in this state.

(1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subsection or elsewhere in the Arkansas Insurance Code, or engage in investment practices, without regard to any aggregate limitation in this subchapter, but an insurer shall not admit an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments then held by the insurer under this section would exceed the lesser of: (A) Ten percent (10%) of its admitted assets; or (B) Seventy-five percent (75%) of its total capital and surplus.

(A) Ten percent (10%) of its admitted assets; or

(B) Seventy-five percent (75%) of its total capital and surplus.

(2) This additional authority shall not apply to the following investments: (A) Medium grade or lower grade-rated credit instruments; (B) Mortgages or mortgage loans; (C) Total of real estate, both home office and real estate held for investment income, except with the Insurance Commissioner's advance approval; (D) Foreign investments and foreign currency exposures; and (E) Derivatives.

(A) Medium grade or lower grade-rated credit instruments;

(B) Mortgages or mortgage loans;

(C) Total of real estate, both home office and real estate held for investment income, except with the Insurance Commissioner's advance approval;

(D) Foreign investments and foreign currency exposures; and

(E) Derivatives.

(3) As used in subsection (a) of this section, "insurer" means licensed domestic life and/or accident and health insurers or other licensed domestic reporting entities which transact life and/or accident or health contracts or plans in this state.

(b) (1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subchapter, or engage in investment practices, without regard to any aggregate limitation in this subchapter, but an insurer shall not admit an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments then held by the insurer under this section would exceed the lesser of: (A) Ten percent (10%) of its admitted assets; or (B) Seventy-five percent (75%) of its total capital and surplus. (2) This additional authority shall not apply to the following investments: (A) Medium grade or lower grade-rated credit instruments; (B) Equity interests; (C) Mortgages or mortgage loans; (D) Total of real estate, both home office and real estate held for investment income, except with the commissioner's advance approval; (E) Foreign investments and foreign currency exposures; and (F) Derivatives. (4) As used in subsection (b) of this section, "insurer" means domestic property, casualty, surety and/or marine, financial guaranty, and mortgage guaranty insurers, and domestic insurers transacting title insurance.

(1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subchapter, or engage in investment practices, without regard to any aggregate limitation in this subchapter, but an insurer shall not admit an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments then held by the insurer under this section would exceed the lesser of: (A) Ten percent (10%) of its admitted assets; or (B) Seventy-five percent (75%) of its total capital and surplus.

(A) Ten percent (10%) of its admitted assets; or

(B) Seventy-five percent (75%) of its total capital and surplus.

(2) This additional authority shall not apply to the following investments: (A) Medium grade or lower grade-rated credit instruments; (B) Equity interests; (C) Mortgages or mortgage loans; (D) Total of real estate, both home office and real estate held for investment income, except with the commissioner's advance approval; (E) Foreign investments and foreign currency exposures; and (F) Derivatives.

(A) Medium grade or lower grade-rated credit instruments;

(B) Equity interests;

(C) Mortgages or mortgage loans;

(D) Total of real estate, both home office and real estate held for investment income, except with the commissioner's advance approval;

(E) Foreign investments and foreign currency exposures; and

(F) Derivatives.

(4) As used in subsection (b) of this section, "insurer" means domestic property, casualty, surety and/or marine, financial guaranty, and mortgage guaranty insurers, and domestic insurers transacting title insurance.

(c) If upon enactment, the immediate application of the provisions of this section would have the effect of reducing the admitted asset value of assets held by a particular insurer, the insurer may continue to reflect as admitted those assets that would be admissible but for the enactment of the provisions of this section, until December 31, 2004.

Acts 1959, No. 148, § 121; 1983, No. 522, § 9; 1985, No. 804, § 29; A.S.A. 1947, § 66-2625; Acts 1993, No. 527, § 12; 2001, No. 1604, § 36.
Ark. Code Ann. § 23-12-705 — AR Code / Title 23 / Chapter 12 / Subchapter 7 / Section 23-12-705
Railroad police - Identification
Status: in_force

When on duty, every railroad police officer appointed shall have in his or her possession a badge and identification card identifying him or her as a member of the police department of the railroad company for which he or she is appointed. He or she shall exhibit the badge or identification card on demand and before making an arrest. Acts 1973, No. 57, § 4; A.S.A. 1947, § 73-637.

When on duty, every railroad police officer appointed shall have in his or her possession a badge and identification card identifying him or her as a member of the police department of the railroad company for which he or she is appointed. He or she shall exhibit the badge or identification card on demand and before making an arrest.

Acts 1973, No. 57, § 4; A.S.A. 1947, § 73-637.
Ark. Code Ann. § 23-48-322 — AR Code / Title 23 / Chapter 48 / Subchapter 3 / Section 23-48-322
Board of directors - Standard of conduct
Status: in_force

(a) (1) (A) The affairs of any state bank shall be managed and controlled by a board of directors of not fewer than three (3) persons, who shall be selected at such times and in such manner as may be provided by its bylaws. (B) Members of the board are not required to be stockholders of the state bank or of its bank holding company unless so provided in the bylaws of the state bank. (2) The initial board may be elected by the incorporators, with the privilege of cumulative voting to have no application to the election of the initial board. (b) Any vacancy in the board of directors of any state bank shall be filled by appointment by the remaining directors, and any director so appointed shall hold office until the election of his or her successor. (c) Unless the articles of incorporation, or an amendment thereto, shall provide to the contrary, the directors shall have exclusive power to promulgate, amend, or repeal bylaws of the state bank. (d) A director of a bank which maintains its main banking office within the State of Arkansas 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 bank. (e) 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 bank whom the director reasonably believes to be reliable and competent in the 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. (f) A director is not acting in good faith if he or she has knowledge concerning the matter in question that makes reliance otherwise permitted in subsection (e) of this section unwarranted. (g) 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 1997, No. 89, § 1.

(a) (1) (A) The affairs of any state bank shall be managed and controlled by a board of directors of not fewer than three (3) persons, who shall be selected at such times and in such manner as may be provided by its bylaws. (B) Members of the board are not required to be stockholders of the state bank or of its bank holding company unless so provided in the bylaws of the state bank. (2) The initial board may be elected by the incorporators, with the privilege of cumulative voting to have no application to the election of the initial board.

(1) (A) The affairs of any state bank shall be managed and controlled by a board of directors of not fewer than three (3) persons, who shall be selected at such times and in such manner as may be provided by its bylaws. (B) Members of the board are not required to be stockholders of the state bank or of its bank holding company unless so provided in the bylaws of the state bank.

(A) The affairs of any state bank shall be managed and controlled by a board of directors of not fewer than three (3) persons, who shall be selected at such times and in such manner as may be provided by its bylaws.

(B) Members of the board are not required to be stockholders of the state bank or of its bank holding company unless so provided in the bylaws of the state bank.

(2) The initial board may be elected by the incorporators, with the privilege of cumulative voting to have no application to the election of the initial board.

(b) Any vacancy in the board of directors of any state bank shall be filled by appointment by the remaining directors, and any director so appointed shall hold office until the election of his or her successor.

(c) Unless the articles of incorporation, or an amendment thereto, shall provide to the contrary, the directors shall have exclusive power to promulgate, amend, or repeal bylaws of the state bank.

(d) A director of a bank which maintains its main banking office within the State of Arkansas 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 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 bank.

(e) 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 bank whom the director reasonably believes to be reliable and competent in the 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 bank whom the director reasonably believes to be reliable and competent in the 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.

(f) A director is not acting in good faith if he or she has knowledge concerning the matter in question that makes reliance otherwise permitted in subsection (e) of this section unwarranted.

(g) 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 1997, No. 89, § 1.
Ark. Code Ann. § 23-17-238 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-238
Indemnification of directors, officers, employees, or agents - Insurance
Status: in_force

(a) (1) A cooperative shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in the right of the cooperative, by reason of the fact that he or she is or was a director, officer, employee, or agent of the cooperative or is or was serving at the request of the cooperative as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against judgments, fines, expenses, including attorney's fees, and amounts paid in settlement actually and reasonably incurred by him or her in connection with such an action, suit, or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the cooperative and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. (2) The termination of any action, suit, or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interest of the cooperative and, with respect to any criminal action or proceeding, had reasonable cause to believe that his or her conduct was unlawful. (b) A cooperative shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action or suit by or in the right of the cooperative to procure a judgment in its favor by reason of the fact that he or she is or was a director, officer, employee, or agent of the cooperative or is or was serving at the request of the cooperative as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against expenses, including attorney's fees, actually and reasonably incurred by him or her in connection with the defense or settlement of such an action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the cooperative, except that no indemnification shall be made in respect of any claim, issue, or matter as to which the person shall have been adjudged to be liable to the cooperative, unless and only to the extent that the circuit court or the court in which the action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the circuit court or such other court shall deem proper. (c) To the extent that a director, officer, employee, or agent of a cooperative has been successful on the merits or otherwise in defense of any action, suit, or proceeding referred to in subsections (a) and (b) of this section, or in defense of any claim, issue, or matter therein, he or she shall be indemnified against expenses, including attorney's fees, actually and reasonably incurred by him or her in connection therewith. (d) Any indemnification under subsections (a) and (b) of this section, unless ordered by a court, shall be made by the cooperative only as authorized in the specific case upon a determination that indemnification of the director, officer, employee, or agent is proper in the circumstances because he or she has met the applicable standard of conduct set forth in subsections (a) and (b) of this section. Such a determination shall be made: (1) By the board of directors by a majority vote of a quorum consisting of directors who were not parties to such an action, suit, or proceeding; (2) If such a quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs, by independent legal counsel in a written opinion; or (3) By the members. (e) Expenses incurred by an officer or director in defending a civil or criminal action, suit, or proceeding may be paid by the cooperative in advance of final disposition of such an action, suit, or proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it shall ultimately be determined that he or she is not entitled to be indemnified by the cooperative as authorized in this section. The expenses incurred by other employees and agents may be so paid upon such terms and conditions, if any, as the board of directors deems appropriate. (f) The indemnification and advancement of expenses provided by or granted pursuant to the other subsections of this section shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of members or disinterested directors, or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding such an office. (g) The indemnification and advancement of expenses provided by, or granted pursuant to, this section shall continue, unless otherwise provided when authorized or ratified, as to a person who has ceased to be a director, officer, employee, or agent and shall inure to the benefit of the heirs, executors, and administrators of such a person. (h) A cooperative shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee, or agent of the cooperative, or is or was serving at the request of the cooperative as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the cooperative would have the power to indemnify him or her against such liability under the provisions of this section. (i) (1) For purposes of this section, references to: (A) "The cooperative" shall include, in addition to the resulting cooperative, and constituent corporation, including any constituent of a constituent, absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee, or agent of the constituent corporation, or is or was serving at the request of the constituent corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, shall stand in the same position under the provisions of this section with respect to the resulting or surviving cooperative as he or she would have with respect to the constituent corporation if its separate existence had continued; (B) "Other enterprises" shall include employee benefit plans; (C) "Fines" shall include any excise taxes assessed on a person with respect to an employee benefit plan; and (D) "Serving at the request of the cooperative" shall include any service as a director, officer, employee, or agent of the cooperative which imposes duties on, or involves services by, the director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries. (2) A person who acted in good faith and in a manner he or she reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the cooperative" as referred to in this section. Acts 1989, No. 438, § 1; 1999, No. 946, § 15.

(a) (1) A cooperative shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in the right of the cooperative, by reason of the fact that he or she is or was a director, officer, employee, or agent of the cooperative or is or was serving at the request of the cooperative as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against judgments, fines, expenses, including attorney's fees, and amounts paid in settlement actually and reasonably incurred by him or her in connection with such an action, suit, or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the cooperative and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. (2) The termination of any action, suit, or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interest of the cooperative and, with respect to any criminal action or proceeding, had reasonable cause to believe that his or her conduct was unlawful.

(1) A cooperative shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in the right of the cooperative, by reason of the fact that he or she is or was a director, officer, employee, or agent of the cooperative or is or was serving at the request of the cooperative as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against judgments, fines, expenses, including attorney's fees, and amounts paid in settlement actually and reasonably incurred by him or her in connection with such an action, suit, or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the cooperative and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.

(2) The termination of any action, suit, or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interest of the cooperative and, with respect to any criminal action or proceeding, had reasonable cause to believe that his or her conduct was unlawful.

(b) A cooperative shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action or suit by or in the right of the cooperative to procure a judgment in its favor by reason of the fact that he or she is or was a director, officer, employee, or agent of the cooperative or is or was serving at the request of the cooperative as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against expenses, including attorney's fees, actually and reasonably incurred by him or her in connection with the defense or settlement of such an action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the cooperative, except that no indemnification shall be made in respect of any claim, issue, or matter as to which the person shall have been adjudged to be liable to the cooperative, unless and only to the extent that the circuit court or the court in which the action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the circuit court or such other court shall deem proper.

(c) To the extent that a director, officer, employee, or agent of a cooperative has been successful on the merits or otherwise in defense of any action, suit, or proceeding referred to in subsections (a) and (b) of this section, or in defense of any claim, issue, or matter therein, he or she shall be indemnified against expenses, including attorney's fees, actually and reasonably incurred by him or her in connection therewith.

(d) Any indemnification under subsections (a) and (b) of this section, unless ordered by a court, shall be made by the cooperative only as authorized in the specific case upon a determination that indemnification of the director, officer, employee, or agent is proper in the circumstances because he or she has met the applicable standard of conduct set forth in subsections (a) and (b) of this section. Such a determination shall be made: (1) By the board of directors by a majority vote of a quorum consisting of directors who were not parties to such an action, suit, or proceeding; (2) If such a quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs, by independent legal counsel in a written opinion; or (3) By the members.

(1) By the board of directors by a majority vote of a quorum consisting of directors who were not parties to such an action, suit, or proceeding;

(2) If such a quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs, by independent legal counsel in a written opinion; or

(3) By the members.

(e) Expenses incurred by an officer or director in defending a civil or criminal action, suit, or proceeding may be paid by the cooperative in advance of final disposition of such an action, suit, or proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it shall ultimately be determined that he or she is not entitled to be indemnified by the cooperative as authorized in this section. The expenses incurred by other employees and agents may be so paid upon such terms and conditions, if any, as the board of directors deems appropriate.

(f) The indemnification and advancement of expenses provided by or granted pursuant to the other subsections of this section shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of members or disinterested directors, or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding such an office.

(g) The indemnification and advancement of expenses provided by, or granted pursuant to, this section shall continue, unless otherwise provided when authorized or ratified, as to a person who has ceased to be a director, officer, employee, or agent and shall inure to the benefit of the heirs, executors, and administrators of such a person.

(h) A cooperative shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee, or agent of the cooperative, or is or was serving at the request of the cooperative as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the cooperative would have the power to indemnify him or her against such liability under the provisions of this section.

(i) (1) For purposes of this section, references to: (A) "The cooperative" shall include, in addition to the resulting cooperative, and constituent corporation, including any constituent of a constituent, absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee, or agent of the constituent corporation, or is or was serving at the request of the constituent corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, shall stand in the same position under the provisions of this section with respect to the resulting or surviving cooperative as he or she would have with respect to the constituent corporation if its separate existence had continued; (B) "Other enterprises" shall include employee benefit plans; (C) "Fines" shall include any excise taxes assessed on a person with respect to an employee benefit plan; and (D) "Serving at the request of the cooperative" shall include any service as a director, officer, employee, or agent of the cooperative which imposes duties on, or involves services by, the director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries. (2) A person who acted in good faith and in a manner he or she reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the cooperative" as referred to in this section.

(1) For purposes of this section, references to: (A) "The cooperative" shall include, in addition to the resulting cooperative, and constituent corporation, including any constituent of a constituent, absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee, or agent of the constituent corporation, or is or was serving at the request of the constituent corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, shall stand in the same position under the provisions of this section with respect to the resulting or surviving cooperative as he or she would have with respect to the constituent corporation if its separate existence had continued; (B) "Other enterprises" shall include employee benefit plans; (C) "Fines" shall include any excise taxes assessed on a person with respect to an employee benefit plan; and (D) "Serving at the request of the cooperative" shall include any service as a director, officer, employee, or agent of the cooperative which imposes duties on, or involves services by, the director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries.

(A) "The cooperative" shall include, in addition to the resulting cooperative, and constituent corporation, including any constituent of a constituent, absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee, or agent of the constituent corporation, or is or was serving at the request of the constituent corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, shall stand in the same position under the provisions of this section with respect to the resulting or surviving cooperative as he or she would have with respect to the constituent corporation if its separate existence had continued;

(B) "Other enterprises" shall include employee benefit plans;

(C) "Fines" shall include any excise taxes assessed on a person with respect to an employee benefit plan; and

(D) "Serving at the request of the cooperative" shall include any service as a director, officer, employee, or agent of the cooperative which imposes duties on, or involves services by, the director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries.

(2) A person who acted in good faith and in a manner he or she reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the cooperative" as referred to in this section.

Acts 1989, No. 438, § 1; 1999, No. 946, § 15.
Ark. Code Ann. § 23-111-304 — AR Code / Title 23 / Chapter 111 / Subchapter 3 / Section 23-111-304
Elections
Status: in_force

(a) (1) After receipt of the certification provided for in § 23-111-302(e) , the Secretary of State shall cause to be published, by one (1) insertion in a newspaper of general circulation published in each county of the state, not less than thirty (30) days nor more than sixty (60) days before the next general election, a notice reading substantially as follows: Click here to view form. (2) If there is no such newspaper published in any county, the notice may be published in any newspaper having a general circulation in the county. (b) Within the time prescribed by law for the certification of other questions to be submitted to a vote of the people at a general election, the Secretary of State shall duly certify to the county boards of election commissioners of the several counties of the state the question as set forth in the notice provided for in subsection (a) of this section. (c) The county board of election commissioners of each county shall cause to be printed on the general election ballot the following: Click here to view form. (d) The county boards of election commissioners shall canvass the vote and, as in the instance of other statewide measures voted on by the people, certify the results thereof to the Secretary of State who shall forthwith tabulate all returns so received by him or her and, by published notice in a newspaper having a statewide circulation, proclaim the result of the election, setting out in the proclamation the total vote for and against the question submitted as provided in subsection (c) of this section. The result of the election as so proclaimed shall be conclusive unless attacked in the courts within thirty (30) days after the date of publication of the proclamation. All contests in relation thereto shall be under the general election laws of this state. (e) The Secretary of State shall file a certified copy of the proclamation with the Arkansas Racing Commission, and the commission shall immediately notify the corporation of the result of the election. (f) If a majority of the qualified electors of the state voting on the question vote against authorizing the commission to grant the franchise to conduct greyhound racing in the county, the temporary franchise held by the corporation shall, ipso facto, be null and void as of the final date on which a contest of the results of the election may be commenced or, in the event of contest, upon the date of final determination of the issue. (g) By use of the moneys deposited with the Secretary of State under the provisions of § 23-111-302(e) , the Secretary of State shall first pay the cost of publication of legal notices required under this section, and any funds which remain from the deposit shall be paid over in equal amounts to the treasurers of the several counties of the state for credit to the general fund. Acts 1957, No. 191, § 9; 1961, No. 56, § 2; 1965 (2nd Ex. Sess.), No. 7, § 3; A.S.A. 1947, § 84-2824.

(a) (1) After receipt of the certification provided for in § 23-111-302(e) , the Secretary of State shall cause to be published, by one (1) insertion in a newspaper of general circulation published in each county of the state, not less than thirty (30) days nor more than sixty (60) days before the next general election, a notice reading substantially as follows: Click here to view form. (2) If there is no such newspaper published in any county, the notice may be published in any newspaper having a general circulation in the county.

(1) After receipt of the certification provided for in § 23-111-302(e) , the Secretary of State shall cause to be published, by one (1) insertion in a newspaper of general circulation published in each county of the state, not less than thirty (30) days nor more than sixty (60) days before the next general election, a notice reading substantially as follows: Click here to view form.

Click here to view form.

(2) If there is no such newspaper published in any county, the notice may be published in any newspaper having a general circulation in the county.

(b) Within the time prescribed by law for the certification of other questions to be submitted to a vote of the people at a general election, the Secretary of State shall duly certify to the county boards of election commissioners of the several counties of the state the question as set forth in the notice provided for in subsection (a) of this section.

(c) The county board of election commissioners of each county shall cause to be printed on the general election ballot the following: Click here to view form.

Click here to view form.

(d) The county boards of election commissioners shall canvass the vote and, as in the instance of other statewide measures voted on by the people, certify the results thereof to the Secretary of State who shall forthwith tabulate all returns so received by him or her and, by published notice in a newspaper having a statewide circulation, proclaim the result of the election, setting out in the proclamation the total vote for and against the question submitted as provided in subsection (c) of this section. The result of the election as so proclaimed shall be conclusive unless attacked in the courts within thirty (30) days after the date of publication of the proclamation. All contests in relation thereto shall be under the general election laws of this state.

(e) The Secretary of State shall file a certified copy of the proclamation with the Arkansas Racing Commission, and the commission shall immediately notify the corporation of the result of the election.

(f) If a majority of the qualified electors of the state voting on the question vote against authorizing the commission to grant the franchise to conduct greyhound racing in the county, the temporary franchise held by the corporation shall, ipso facto, be null and void as of the final date on which a contest of the results of the election may be commenced or, in the event of contest, upon the date of final determination of the issue.

(g) By use of the moneys deposited with the Secretary of State under the provisions of § 23-111-302(e) , the Secretary of State shall first pay the cost of publication of legal notices required under this section, and any funds which remain from the deposit shall be paid over in equal amounts to the treasurers of the several counties of the state for credit to the general fund.

Acts 1957, No. 191, § 9; 1961, No. 56, § 2; 1965 (2nd Ex. Sess.), No. 7, § 3; A.S.A. 1947, § 84-2824.

111_304_1 - Attachment

111_304_2 - Attachment
Ark. Code Ann. § 23-48-602 — AR Code / Title 23 / Chapter 48 / Subchapter 6 / Section 23-48-602
Procedure for adopting and filing plan of exchange
Status: in_force

(a) The directors, consisting of at least a majority, of a state bank and bank holding company who desire to adopt a plan of exchange pursuant to this subchapter shall adopt a plan of exchange, signed by them under their respective corporate seals, which shall prescribe and set forth: (1) The terms and conditions of the plan of exchange; (2) The mode of carrying it into effect; (3) Provisions with respect to abandonment; (4) The effective date of the exchange of shares or the method of determination thereof; (5) The manner and basis of any cash payment or issuance or exchange of shares of stock or other securities of the bank holding company for shares of the state bank; and (6) Such other details and provisions as are deemed necessary or desirable. (b) (1) The plan of exchange shall be submitted to the stockholders of the state bank to be acquired at a meeting thereof called for that purpose. (2) Notice shall be given of the time, place, and purpose of the meeting to each stockholder or member of record, whether entitled to vote or not. (3) A copy of any proxy statement or other solicitation materials provided to the shareholders of the state bank shall be filed with the Bank Commissioner on or before delivery to the shareholders. (4) (A) At the meeting, the plan of exchange shall be considered by the stockholders entitled to vote thereon. (B) A vote by ballot, in person or by proxy, shall be taken for the adoption or rejection of the plan. (C) Unless otherwise provided in the state bank's articles of incorporation for voting on a plan of exchange, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of the state bank entitled to vote thereon. (D) However, if any class of shares of the state bank is entitled to vote as a class on the plan, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of each class of shares entitled to vote as a class on the plan and the total outstanding shares entitled to vote on the plan. (E) If the plan of exchange is approved by the stockholders of the state bank, then that fact shall be certified in the plan by the president or chief executive officer or a vice president of the state bank. (5) The plan so adopted and certified shall be signed by the president or a vice president of each party to the plan of exchange and acknowledged before an officer authorized by law to take acknowledgment of deeds. (c) The plan, adopted and certified as provided in subsection (b) of this section, shall be filed in duplicate originals with the Bank Commissioner prior to the hearing on the plan and within ten (10) days following the approval of stockholders and, after approval thereof by the commissioner as provided in § 23-48-601 , shall be taken and deemed to be the plan of exchange of the parties thereto. (d) Any plan of exchange may be abandoned in conformity with the terms thereof as approved by the commissioner provided, in that event, due notice of abandonment shall be forthwith transmitted to the stockholders of the state bank, and to the secretary of the bank holding company which are parties thereto, within ten (10) days of the abandonment in a manner and form prescribed or approved by the commissioner. Amended by Act 2017, No. 198,§ 13, eff. 8/1/2017. Acts 1997, No. 89, § 1; 2001, No. 65, § 2.

(a) The directors, consisting of at least a majority, of a state bank and bank holding company who desire to adopt a plan of exchange pursuant to this subchapter shall adopt a plan of exchange, signed by them under their respective corporate seals, which shall prescribe and set forth: (1) The terms and conditions of the plan of exchange; (2) The mode of carrying it into effect; (3) Provisions with respect to abandonment; (4) The effective date of the exchange of shares or the method of determination thereof; (5) The manner and basis of any cash payment or issuance or exchange of shares of stock or other securities of the bank holding company for shares of the state bank; and (6) Such other details and provisions as are deemed necessary or desirable.

(1) The terms and conditions of the plan of exchange;

(2) The mode of carrying it into effect;

(3) Provisions with respect to abandonment;

(4) The effective date of the exchange of shares or the method of determination thereof;

(5) The manner and basis of any cash payment or issuance or exchange of shares of stock or other securities of the bank holding company for shares of the state bank; and

(6) Such other details and provisions as are deemed necessary or desirable.

(b) (1) The plan of exchange shall be submitted to the stockholders of the state bank to be acquired at a meeting thereof called for that purpose. (2) Notice shall be given of the time, place, and purpose of the meeting to each stockholder or member of record, whether entitled to vote or not. (3) A copy of any proxy statement or other solicitation materials provided to the shareholders of the state bank shall be filed with the Bank Commissioner on or before delivery to the shareholders. (4) (A) At the meeting, the plan of exchange shall be considered by the stockholders entitled to vote thereon. (B) A vote by ballot, in person or by proxy, shall be taken for the adoption or rejection of the plan. (C) Unless otherwise provided in the state bank's articles of incorporation for voting on a plan of exchange, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of the state bank entitled to vote thereon. (D) However, if any class of shares of the state bank is entitled to vote as a class on the plan, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of each class of shares entitled to vote as a class on the plan and the total outstanding shares entitled to vote on the plan. (E) If the plan of exchange is approved by the stockholders of the state bank, then that fact shall be certified in the plan by the president or chief executive officer or a vice president of the state bank. (5) The plan so adopted and certified shall be signed by the president or a vice president of each party to the plan of exchange and acknowledged before an officer authorized by law to take acknowledgment of deeds.

(1) The plan of exchange shall be submitted to the stockholders of the state bank to be acquired at a meeting thereof called for that purpose.

(2) Notice shall be given of the time, place, and purpose of the meeting to each stockholder or member of record, whether entitled to vote or not.

(3) A copy of any proxy statement or other solicitation materials provided to the shareholders of the state bank shall be filed with the Bank Commissioner on or before delivery to the shareholders.

(4) (A) At the meeting, the plan of exchange shall be considered by the stockholders entitled to vote thereon. (B) A vote by ballot, in person or by proxy, shall be taken for the adoption or rejection of the plan. (C) Unless otherwise provided in the state bank's articles of incorporation for voting on a plan of exchange, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of the state bank entitled to vote thereon. (D) However, if any class of shares of the state bank is entitled to vote as a class on the plan, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of each class of shares entitled to vote as a class on the plan and the total outstanding shares entitled to vote on the plan. (E) If the plan of exchange is approved by the stockholders of the state bank, then that fact shall be certified in the plan by the president or chief executive officer or a vice president of the state bank.

(A) At the meeting, the plan of exchange shall be considered by the stockholders entitled to vote thereon.

(B) A vote by ballot, in person or by proxy, shall be taken for the adoption or rejection of the plan.

(C) Unless otherwise provided in the state bank's articles of incorporation for voting on a plan of exchange, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of the state bank entitled to vote thereon.

(D) However, if any class of shares of the state bank is entitled to vote as a class on the plan, the plan of exchange shall be approved upon receiving the affirmative vote of the holders of at least a simple majority of the outstanding shares of each class of shares entitled to vote as a class on the plan and the total outstanding shares entitled to vote on the plan.

(E) If the plan of exchange is approved by the stockholders of the state bank, then that fact shall be certified in the plan by the president or chief executive officer or a vice president of the state bank.

(5) The plan so adopted and certified shall be signed by the president or a vice president of each party to the plan of exchange and acknowledged before an officer authorized by law to take acknowledgment of deeds.

(c) The plan, adopted and certified as provided in subsection (b) of this section, shall be filed in duplicate originals with the Bank Commissioner prior to the hearing on the plan and within ten (10) days following the approval of stockholders and, after approval thereof by the commissioner as provided in § 23-48-601 , shall be taken and deemed to be the plan of exchange of the parties thereto.

(d) Any plan of exchange may be abandoned in conformity with the terms thereof as approved by the commissioner provided, in that event, due notice of abandonment shall be forthwith transmitted to the stockholders of the state bank, and to the secretary of the bank holding company which are parties thereto, within ten (10) days of the abandonment in a manner and form prescribed or approved by the commissioner.

Amended by Act 2017, No. 198,§ 13, eff. 8/1/2017.

Acts 1997, No. 89, § 1; 2001, No. 65, § 2.
Ark. Code Ann. § 23-61-904 — AR Code / Title 23 / Chapter 61 / Subchapter 9 / Section 23-61-904
Arkansas Healthcare Transparency Initiative
Status: in_force

(a) The Arkansas Healthcare Transparency Initiative is established with the purpose to create a database, including ongoing all-payer claims database projects funded through the State Insurance Department, that receives and stores data from a submitting entity relating to medical, dental, and pharmaceutical and other insurance claims information, unique identifiers, and geographic and demographic information for covered individuals as permitted in this subchapter, and provider files, for the purposes of this subchapter. (b) The Arkansas Healthcare Transparency Initiative shall be governed by the department and advised by the Arkansas Healthcare Transparency Initiative Board. Added by Act 2015, No. 1233,§ 1, eff. 4/7/2015.

(a) The Arkansas Healthcare Transparency Initiative is established with the purpose to create a database, including ongoing all-payer claims database projects funded through the State Insurance Department, that receives and stores data from a submitting entity relating to medical, dental, and pharmaceutical and other insurance claims information, unique identifiers, and geographic and demographic information for covered individuals as permitted in this subchapter, and provider files, for the purposes of this subchapter.

(b) The Arkansas Healthcare Transparency Initiative shall be governed by the department and advised by the Arkansas Healthcare Transparency Initiative Board.

Added by Act 2015, No. 1233,§ 1, eff. 4/7/2015.
Ark. Code Ann. § 23-69-106 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-106
Articles of incorporation - Filing and approval
Status: in_force

(a) (1) The incorporator or incorporators of a proposed domestic insurer incorporated under this subchapter, particularly §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 , shall deliver the duplicate originals of the articles of incorporation thereof to the Insurance Commissioner together with the filing fees therefor specified in § 23-61-401 or any companion rule and regulation of the commissioner. (2) If the commissioner finds that the articles comply with law, he or she shall endorse his or her approval upon each set of the articles and issue his or her certificate of incorporation. (3) He or she shall thereupon place one (1) set of the articles on file in his or her office, and return the other set of the articles, for the records of the corporation, together with his or her certificate of incorporation, to the incorporator or incorporators or to the representative or representatives of the incorporator or incorporators. (b) If the commissioner finds that the proposed articles of incorporation do not comply with law or that the corporation, if organized, could not meet the requirements for a certificate of authority under § 23-63-202 or other provisions of the Arkansas Insurance Code, the commissioner shall refuse to approve the articles of incorporation and shall return the duplicate sets thereof to the incorporator or incorporators, together with a written statement of his or her reasons for the nonapproval. The filing fee paid pursuant to subsection (a) of this section shall not be returnable. (c) The corporation shall have legal existence as such upon the issuance of the certificate of incorporation by the commissioner, but it shall not transact business as an insurer until it has applied for and received from the commissioner a certificate of authority as provided by the Arkansas Insurance Code. (d) A copy of the certificate of incorporation, certified by the commissioner, shall be admissible in all the courts of this state as prima facie evidence of due incorporation. Acts 1959, No. 148, § 458; A.S.A. 1947, § 66-4206; Acts 2001, No. 1604, § 49.

(a) (1) The incorporator or incorporators of a proposed domestic insurer incorporated under this subchapter, particularly §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 , shall deliver the duplicate originals of the articles of incorporation thereof to the Insurance Commissioner together with the filing fees therefor specified in § 23-61-401 or any companion rule and regulation of the commissioner. (2) If the commissioner finds that the articles comply with law, he or she shall endorse his or her approval upon each set of the articles and issue his or her certificate of incorporation. (3) He or she shall thereupon place one (1) set of the articles on file in his or her office, and return the other set of the articles, for the records of the corporation, together with his or her certificate of incorporation, to the incorporator or incorporators or to the representative or representatives of the incorporator or incorporators.

(1) The incorporator or incorporators of a proposed domestic insurer incorporated under this subchapter, particularly §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 , shall deliver the duplicate originals of the articles of incorporation thereof to the Insurance Commissioner together with the filing fees therefor specified in § 23-61-401 or any companion rule and regulation of the commissioner.

(2) If the commissioner finds that the articles comply with law, he or she shall endorse his or her approval upon each set of the articles and issue his or her certificate of incorporation.

(3) He or she shall thereupon place one (1) set of the articles on file in his or her office, and return the other set of the articles, for the records of the corporation, together with his or her certificate of incorporation, to the incorporator or incorporators or to the representative or representatives of the incorporator or incorporators.

(b) If the commissioner finds that the proposed articles of incorporation do not comply with law or that the corporation, if organized, could not meet the requirements for a certificate of authority under § 23-63-202 or other provisions of the Arkansas Insurance Code, the commissioner shall refuse to approve the articles of incorporation and shall return the duplicate sets thereof to the incorporator or incorporators, together with a written statement of his or her reasons for the nonapproval. The filing fee paid pursuant to subsection (a) of this section shall not be returnable.

(c) The corporation shall have legal existence as such upon the issuance of the certificate of incorporation by the commissioner, but it shall not transact business as an insurer until it has applied for and received from the commissioner a certificate of authority as provided by the Arkansas Insurance Code.

(d) A copy of the certificate of incorporation, certified by the commissioner, shall be admissible in all the courts of this state as prima facie evidence of due incorporation.

Acts 1959, No. 148, § 458; A.S.A. 1947, § 66-4206; Acts 2001, No. 1604, § 49.
Ark. Code Ann. § 23-79-131 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-131
Exemption of proceeds - Life insurance - Definition
Status: in_force

(a) (1) (A) If a policy of insurance is effected by any person on his or her own life or on another life in favor of a person other than himself or herself or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to the person, the lawful beneficiary or assignee of the policy, other than the insured or the person effecting the insurance or executors or administrators of the insured or the person effecting the insurance, shall be entitled to its proceeds and avails against the creditors and representatives of the insured and those of the person effecting the policy whether or not the right to change the beneficiary is reserved or permitted and whether or not the policy is made payable to the person whose life is insured, if the beneficiary or assignee shall predecease such a person. (B) As used in this subsection, "proceeds and avails" means: (i) The cash surrender value of a life insurance policy; (ii) The proceeds of a life insurance policy; (iii) The withdrawal value of any optional settlement or deposit with any company made under the terms of a life insurance policy; and (iv) All other benefits, indemnities, payments, and privileges, of every kind from a life insurance policy. (C) The exemption provided in subdivision (a)(1)(A) of this section applies to: (i) Garnishment, attachment, execution, or other seizure; (ii) Seizure, appropriation, or application by a legal or equitable process or by operation of law to pay a debt or other liability of an insured or of a beneficiary, either before or after the benefits are provided; and (iii) A demand in a bankruptcy proceeding of the insured or beneficiary. (D) The exemption provided in subdivision (a)(1)(A) of this section does not apply to: (i) A pledge of the insurance policy or the proceeds of the insurance policy to secure an obligation for the repayment of debt in which the obligor is: (a) The insured; (b) The beneficiary; (c) A business entity in which the insured or the beneficiary held an ownership interest at the time the pledge was made; or (d) A family member of the insured or the beneficiary; (ii) A child support lien or levy; (iii) A claim by the Department of Human Services against an estate under § 20-76-436 ; or (iv) An insurance policy that has become an asset of the insured. (E) For purposes of the limitation on the personal property exemption stated in Arkansas Constitution, Article 9, § 2, "personal property" does not include life insurance proceeds that are payable: (i) To a beneficiary other than the insured, including without limitation a charitable organization that qualifies as an exempt organization under 26 U.S.C. § 501(c)(3) , as it existed on January 1, 2023; (ii) For a permitted business use; or (iii) To the spouse, children, or dependents of the insured. (2) However, subject to the statute of limitations, the amount of any premiums for the insurance paid with intent to defraud creditors, including interest thereon, shall enure to their benefit from the proceeds of the policy, but the insurer issuing the policy shall be discharged of all liability thereof by payment of its proceeds in accordance with its terms unless, before the payment, the insurer shall have written notice at its home office, by or in behalf of a creditor, of a claim to recover for transfer made or premiums paid with intent to defraud creditors, with specifications of the amount so claimed. (b) For the purposes of subsection (a) of this section, a policy shall also be deemed to be payable to a person other than the insured if, and to the extent that, a facility-of-payment clause or similar clause in the policy permits the insurer to discharge its obligation after the death of the individual insured by paying the death benefits to a person as permitted by the clause. Amended by Act 2023, No. 579,§ 1, eff. 8/1/2023. Acts 1959, No. 148, § 295; A.S.A. 1947, § 66-3228.

(a) (1) (A) If a policy of insurance is effected by any person on his or her own life or on another life in favor of a person other than himself or herself or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to the person, the lawful beneficiary or assignee of the policy, other than the insured or the person effecting the insurance or executors or administrators of the insured or the person effecting the insurance, shall be entitled to its proceeds and avails against the creditors and representatives of the insured and those of the person effecting the policy whether or not the right to change the beneficiary is reserved or permitted and whether or not the policy is made payable to the person whose life is insured, if the beneficiary or assignee shall predecease such a person. (B) As used in this subsection, "proceeds and avails" means: (i) The cash surrender value of a life insurance policy; (ii) The proceeds of a life insurance policy; (iii) The withdrawal value of any optional settlement or deposit with any company made under the terms of a life insurance policy; and (iv) All other benefits, indemnities, payments, and privileges, of every kind from a life insurance policy. (C) The exemption provided in subdivision (a)(1)(A) of this section applies to: (i) Garnishment, attachment, execution, or other seizure; (ii) Seizure, appropriation, or application by a legal or equitable process or by operation of law to pay a debt or other liability of an insured or of a beneficiary, either before or after the benefits are provided; and (iii) A demand in a bankruptcy proceeding of the insured or beneficiary. (D) The exemption provided in subdivision (a)(1)(A) of this section does not apply to: (i) A pledge of the insurance policy or the proceeds of the insurance policy to secure an obligation for the repayment of debt in which the obligor is: (a) The insured; (b) The beneficiary; (c) A business entity in which the insured or the beneficiary held an ownership interest at the time the pledge was made; or (d) A family member of the insured or the beneficiary; (ii) A child support lien or levy; (iii) A claim by the Department of Human Services against an estate under § 20-76-436 ; or (iv) An insurance policy that has become an asset of the insured. (E) For purposes of the limitation on the personal property exemption stated in Arkansas Constitution, Article 9, § 2, "personal property" does not include life insurance proceeds that are payable: (i) To a beneficiary other than the insured, including without limitation a charitable organization that qualifies as an exempt organization under 26 U.S.C. § 501(c)(3) , as it existed on January 1, 2023; (ii) For a permitted business use; or (iii) To the spouse, children, or dependents of the insured. (2) However, subject to the statute of limitations, the amount of any premiums for the insurance paid with intent to defraud creditors, including interest thereon, shall enure to their benefit from the proceeds of the policy, but the insurer issuing the policy shall be discharged of all liability thereof by payment of its proceeds in accordance with its terms unless, before the payment, the insurer shall have written notice at its home office, by or in behalf of a creditor, of a claim to recover for transfer made or premiums paid with intent to defraud creditors, with specifications of the amount so claimed.

(1) (A) If a policy of insurance is effected by any person on his or her own life or on another life in favor of a person other than himself or herself or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to the person, the lawful beneficiary or assignee of the policy, other than the insured or the person effecting the insurance or executors or administrators of the insured or the person effecting the insurance, shall be entitled to its proceeds and avails against the creditors and representatives of the insured and those of the person effecting the policy whether or not the right to change the beneficiary is reserved or permitted and whether or not the policy is made payable to the person whose life is insured, if the beneficiary or assignee shall predecease such a person. (B) As used in this subsection, "proceeds and avails" means: (i) The cash surrender value of a life insurance policy; (ii) The proceeds of a life insurance policy; (iii) The withdrawal value of any optional settlement or deposit with any company made under the terms of a life insurance policy; and (iv) All other benefits, indemnities, payments, and privileges, of every kind from a life insurance policy. (C) The exemption provided in subdivision (a)(1)(A) of this section applies to: (i) Garnishment, attachment, execution, or other seizure; (ii) Seizure, appropriation, or application by a legal or equitable process or by operation of law to pay a debt or other liability of an insured or of a beneficiary, either before or after the benefits are provided; and (iii) A demand in a bankruptcy proceeding of the insured or beneficiary. (D) The exemption provided in subdivision (a)(1)(A) of this section does not apply to: (i) A pledge of the insurance policy or the proceeds of the insurance policy to secure an obligation for the repayment of debt in which the obligor is: (a) The insured; (b) The beneficiary; (c) A business entity in which the insured or the beneficiary held an ownership interest at the time the pledge was made; or (d) A family member of the insured or the beneficiary; (ii) A child support lien or levy; (iii) A claim by the Department of Human Services against an estate under § 20-76-436 ; or (iv) An insurance policy that has become an asset of the insured. (E) For purposes of the limitation on the personal property exemption stated in Arkansas Constitution, Article 9, § 2, "personal property" does not include life insurance proceeds that are payable: (i) To a beneficiary other than the insured, including without limitation a charitable organization that qualifies as an exempt organization under 26 U.S.C. § 501(c)(3) , as it existed on January 1, 2023; (ii) For a permitted business use; or (iii) To the spouse, children, or dependents of the insured.

(A) If a policy of insurance is effected by any person on his or her own life or on another life in favor of a person other than himself or herself or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to the person, the lawful beneficiary or assignee of the policy, other than the insured or the person effecting the insurance or executors or administrators of the insured or the person effecting the insurance, shall be entitled to its proceeds and avails against the creditors and representatives of the insured and those of the person effecting the policy whether or not the right to change the beneficiary is reserved or permitted and whether or not the policy is made payable to the person whose life is insured, if the beneficiary or assignee shall predecease such a person.

(B) As used in this subsection, "proceeds and avails" means: (i) The cash surrender value of a life insurance policy; (ii) The proceeds of a life insurance policy; (iii) The withdrawal value of any optional settlement or deposit with any company made under the terms of a life insurance policy; and (iv) All other benefits, indemnities, payments, and privileges, of every kind from a life insurance policy.

(i) The cash surrender value of a life insurance policy;

(ii) The proceeds of a life insurance policy;

(iii) The withdrawal value of any optional settlement or deposit with any company made under the terms of a life insurance policy; and

(iv) All other benefits, indemnities, payments, and privileges, of every kind from a life insurance policy.

(C) The exemption provided in subdivision (a)(1)(A) of this section applies to: (i) Garnishment, attachment, execution, or other seizure; (ii) Seizure, appropriation, or application by a legal or equitable process or by operation of law to pay a debt or other liability of an insured or of a beneficiary, either before or after the benefits are provided; and (iii) A demand in a bankruptcy proceeding of the insured or beneficiary.

(i) Garnishment, attachment, execution, or other seizure;

(ii) Seizure, appropriation, or application by a legal or equitable process or by operation of law to pay a debt or other liability of an insured or of a beneficiary, either before or after the benefits are provided; and

(iii) A demand in a bankruptcy proceeding of the insured or beneficiary.

(D) The exemption provided in subdivision (a)(1)(A) of this section does not apply to: (i) A pledge of the insurance policy or the proceeds of the insurance policy to secure an obligation for the repayment of debt in which the obligor is: (a) The insured; (b) The beneficiary; (c) A business entity in which the insured or the beneficiary held an ownership interest at the time the pledge was made; or (d) A family member of the insured or the beneficiary; (ii) A child support lien or levy; (iii) A claim by the Department of Human Services against an estate under § 20-76-436 ; or (iv) An insurance policy that has become an asset of the insured.

(i) A pledge of the insurance policy or the proceeds of the insurance policy to secure an obligation for the repayment of debt in which the obligor is: (a) The insured; (b) The beneficiary; (c) A business entity in which the insured or the beneficiary held an ownership interest at the time the pledge was made; or (d) A family member of the insured or the beneficiary;

(a) The insured;

(b) The beneficiary;

(c) A business entity in which the insured or the beneficiary held an ownership interest at the time the pledge was made; or

(d) A family member of the insured or the beneficiary;

(ii) A child support lien or levy;

(iii) A claim by the Department of Human Services against an estate under § 20-76-436 ; or

(iv) An insurance policy that has become an asset of the insured.

(E) For purposes of the limitation on the personal property exemption stated in Arkansas Constitution, Article 9, § 2, "personal property" does not include life insurance proceeds that are payable: (i) To a beneficiary other than the insured, including without limitation a charitable organization that qualifies as an exempt organization under 26 U.S.C. § 501(c)(3) , as it existed on January 1, 2023; (ii) For a permitted business use; or (iii) To the spouse, children, or dependents of the insured.

(i) To a beneficiary other than the insured, including without limitation a charitable organization that qualifies as an exempt organization under 26 U.S.C. § 501(c)(3) , as it existed on January 1, 2023;

(ii) For a permitted business use; or

(iii) To the spouse, children, or dependents of the insured.

(2) However, subject to the statute of limitations, the amount of any premiums for the insurance paid with intent to defraud creditors, including interest thereon, shall enure to their benefit from the proceeds of the policy, but the insurer issuing the policy shall be discharged of all liability thereof by payment of its proceeds in accordance with its terms unless, before the payment, the insurer shall have written notice at its home office, by or in behalf of a creditor, of a claim to recover for transfer made or premiums paid with intent to defraud creditors, with specifications of the amount so claimed.

(b) For the purposes of subsection (a) of this section, a policy shall also be deemed to be payable to a person other than the insured if, and to the extent that, a facility-of-payment clause or similar clause in the policy permits the insurer to discharge its obligation after the death of the individual insured by paying the death benefits to a person as permitted by the clause.

Amended by Act 2023, No. 579,§ 1, eff. 8/1/2023.

Acts 1959, No. 148, § 295; A.S.A. 1947, § 66-3228.
Ark. Code Ann. § 23-115-303 — AR Code / Title 23 / Chapter 115 / Subchapter 3 / Section 23-115-303
Employees - Background investigation
Status: in_force

(a) As required by Arkansas Constitution, Article 16, § 4, the General Assembly shall fix the salaries of all employees of the Office of the Arkansas Lottery, including without limitation the Director of the Office of the Arkansas Lottery. (b) An office employee shall not have a financial interest in a vendor doing business or proposing to do business with the office. (c) An office employee with decisionmaking authority shall not participate in a decision involving a retailer with whom the office employee has a financial interest. (d) (1) An office employee who leaves the employment of the office shall not: (A) Represent a vendor or retailer before the office for a period of two (2) years after leaving the employment of the office; or (B) Engage in lobbying on any matter related to the operation or conduct of a lottery for a period of two (2) years after leaving the employment of the office. (2) (A) Subdivision (d)(1) of this section is supplemental to § 19-11-701 et seq. (B) If any provision of § 19-11-701 et seq. would impose a restriction on a specific employee greater than the restrictions under subdivision (d)(1) of this section, the provision of § 19-11-701 et seq. shall apply. (e) (1) Each person considered for employment by the office shall apply to the Identification Bureau of the Division of Arkansas State Police for a state and federal criminal background check to be conducted by the Identification Bureau of the Division of Arkansas State Police and the Federal Bureau of Investigation. (2) The state and federal criminal background check shall conform to the applicable federal standards and shall include the taking of fingerprints. (3) The applicant shall sign a consent to the release of information for the state and federal criminal background check. (4) The office shall be responsible for the payment of any fee associated with the state and federal criminal background check. (5) Upon completion of the state and federal criminal background check, the Identification Bureau of the Division of Arkansas State Police shall forward to the office all releasable information obtained concerning the applicant. (f) The office shall not employ an individual who has: (1) Been convicted of a felony or a gambling offense in a state or federal court of the United States; (2) Been convicted of a crime involving moral turpitude; or (3) Entered into a plea agreement to avoid felony prosecution. (g) (1) The office shall bond an office employee with access to office funds or lottery revenue in an amount as provided by the office and may bond other office employees as deemed necessary. (2) Bonds under subdivision (g)(1) of this section shall be fidelity bonds in excess of the amount provided by the Governmental Bonding Board. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) As required by Arkansas Constitution, Article 16, § 4, the General Assembly shall fix the salaries of all employees of the Office of the Arkansas Lottery, including without limitation the Director of the Office of the Arkansas Lottery.

(b) An office employee shall not have a financial interest in a vendor doing business or proposing to do business with the office.

(c) An office employee with decisionmaking authority shall not participate in a decision involving a retailer with whom the office employee has a financial interest.

(d) (1) An office employee who leaves the employment of the office shall not: (A) Represent a vendor or retailer before the office for a period of two (2) years after leaving the employment of the office; or (B) Engage in lobbying on any matter related to the operation or conduct of a lottery for a period of two (2) years after leaving the employment of the office. (2) (A) Subdivision (d)(1) of this section is supplemental to § 19-11-701 et seq. (B) If any provision of § 19-11-701 et seq. would impose a restriction on a specific employee greater than the restrictions under subdivision (d)(1) of this section, the provision of § 19-11-701 et seq. shall apply.

(1) An office employee who leaves the employment of the office shall not: (A) Represent a vendor or retailer before the office for a period of two (2) years after leaving the employment of the office; or (B) Engage in lobbying on any matter related to the operation or conduct of a lottery for a period of two (2) years after leaving the employment of the office.

(A) Represent a vendor or retailer before the office for a period of two (2) years after leaving the employment of the office; or

(B) Engage in lobbying on any matter related to the operation or conduct of a lottery for a period of two (2) years after leaving the employment of the office.

(2) (A) Subdivision (d)(1) of this section is supplemental to § 19-11-701 et seq. (B) If any provision of § 19-11-701 et seq. would impose a restriction on a specific employee greater than the restrictions under subdivision (d)(1) of this section, the provision of § 19-11-701 et seq. shall apply.

(A) Subdivision (d)(1) of this section is supplemental to § 19-11-701 et seq.

(B) If any provision of § 19-11-701 et seq. would impose a restriction on a specific employee greater than the restrictions under subdivision (d)(1) of this section, the provision of § 19-11-701 et seq. shall apply.

(e) (1) Each person considered for employment by the office shall apply to the Identification Bureau of the Division of Arkansas State Police for a state and federal criminal background check to be conducted by the Identification Bureau of the Division of Arkansas State Police and the Federal Bureau of Investigation. (2) The state and federal criminal background check shall conform to the applicable federal standards and shall include the taking of fingerprints. (3) The applicant shall sign a consent to the release of information for the state and federal criminal background check. (4) The office shall be responsible for the payment of any fee associated with the state and federal criminal background check. (5) Upon completion of the state and federal criminal background check, the Identification Bureau of the Division of Arkansas State Police shall forward to the office all releasable information obtained concerning the applicant.

(1) Each person considered for employment by the office shall apply to the Identification Bureau of the Division of Arkansas State Police for a state and federal criminal background check to be conducted by the Identification Bureau of the Division of Arkansas State Police and the Federal Bureau of Investigation.

(2) The state and federal criminal background check shall conform to the applicable federal standards and shall include the taking of fingerprints.

(3) The applicant shall sign a consent to the release of information for the state and federal criminal background check.

(4) The office shall be responsible for the payment of any fee associated with the state and federal criminal background check.

(5) Upon completion of the state and federal criminal background check, the Identification Bureau of the Division of Arkansas State Police shall forward to the office all releasable information obtained concerning the applicant.

(f) The office shall not employ an individual who has: (1) Been convicted of a felony or a gambling offense in a state or federal court of the United States; (2) Been convicted of a crime involving moral turpitude; or (3) Entered into a plea agreement to avoid felony prosecution.

(1) Been convicted of a felony or a gambling offense in a state or federal court of the United States;

(2) Been convicted of a crime involving moral turpitude; or

(3) Entered into a plea agreement to avoid felony prosecution.

(g) (1) The office shall bond an office employee with access to office funds or lottery revenue in an amount as provided by the office and may bond other office employees as deemed necessary. (2) Bonds under subdivision (g)(1) of this section shall be fidelity bonds in excess of the amount provided by the Governmental Bonding Board.

(1) The office shall bond an office employee with access to office funds or lottery revenue in an amount as provided by the office and may bond other office employees as deemed necessary.

(2) Bonds under subdivision (g)(1) of this section shall be fidelity bonds in excess of the amount provided by the Governmental Bonding Board.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-3-115 — AR Code / Title 23 / Chapter 3 / Subchapter 1 / Section 23-3-115
Wires transmitting electricity or messages over public or private ways
Status: in_force

Every public utility which owns, operates, manages, or controls along or across any public or private way any wires over which electricity or messages are transmitted shall construct, operate, and maintain the wires and the equipment used in connection therewith in a reasonably adequate and safe manner and so as not to unreasonably interfere with the service furnished by other public utilities. Acts 1935, No. 324, § 50; A.S.A. 1947, § 73-267.

Every public utility which owns, operates, manages, or controls along or across any public or private way any wires over which electricity or messages are transmitted shall construct, operate, and maintain the wires and the equipment used in connection therewith in a reasonably adequate and safe manner and so as not to unreasonably interfere with the service furnished by other public utilities.

Acts 1935, No. 324, § 50; A.S.A. 1947, § 73-267.
Ark. Code Ann. § 23-77-104 — AR Code / Title 23 / Chapter 77 / Section 23-77-104
Automobile clubs or associations under authority, supervision, and control of Insurance Commissioner
Status: in_force

All automobile clubs or associations organized and operating in the State of Arkansas shall be under the authority, supervision, and control of the Insurance Commissioner. Acts 1955, No. 377, § 4; A.S.A. 1947, § 75-1604.

All automobile clubs or associations organized and operating in the State of Arkansas shall be under the authority, supervision, and control of the Insurance Commissioner.

Acts 1955, No. 377, § 4; A.S.A. 1947, § 75-1604.
Ark. Code Ann. § 23-75-118 — AR Code / Title 23 / Chapter 75 / Section 23-75-118
Review of decisions
Status: in_force

All orders of the Insurance Commissioner made pursuant to this chapter shall be subject to the provisions of § 23-61-101 et seq. and § 23-61-201 et seq., including the right of hearing, rehearing, and appeal. Acts 1959, No. 148, § 686; A.S.A. 1947, § 66-4916.

All orders of the Insurance Commissioner made pursuant to this chapter shall be subject to the provisions of § 23-61-101 et seq. and § 23-61-201 et seq., including the right of hearing, rehearing, and appeal.

Acts 1959, No. 148, § 686; A.S.A. 1947, § 66-4916.
Ark. Code Ann. § 23-51-140 — AR Code / Title 23 / Chapter 51 / Section 23-51-140
Voting securities held by state trust company
Status: in_force

(a) Voting securities of a state trust company held by the state trust company in a fiduciary capacity under a will or trust, whether registered in its own name or in the name of its nominee, may not be voted in the election of directors or managers or on a matter affecting the compensation of directors, managers, officers, or employees of the state trust company in that capacity, unless: (1) Under the terms of the will or trust, the manner in which the voting securities are to be voted may be determined by a donor or beneficiary of the will or trust and the donor or beneficiary actually makes the determination in the matter at issue; (2) The terms of the will or trust expressly direct the manner in which the securities must be voted to the extent that no discretion is vested in the state trust company as fiduciary; or (3) The securities are voted solely by a co-fiduciary that is not an affiliate of the state trust company, as if the co-fiduciary were the sole fiduciary. (b) Voting securities of a state trust company that cannot be voted under this section are considered to be authorized but unissued for purposes of determining the procedures for and results of the affected vote. Acts 1997, No. 940, § 40.

(a) Voting securities of a state trust company held by the state trust company in a fiduciary capacity under a will or trust, whether registered in its own name or in the name of its nominee, may not be voted in the election of directors or managers or on a matter affecting the compensation of directors, managers, officers, or employees of the state trust company in that capacity, unless: (1) Under the terms of the will or trust, the manner in which the voting securities are to be voted may be determined by a donor or beneficiary of the will or trust and the donor or beneficiary actually makes the determination in the matter at issue; (2) The terms of the will or trust expressly direct the manner in which the securities must be voted to the extent that no discretion is vested in the state trust company as fiduciary; or (3) The securities are voted solely by a co-fiduciary that is not an affiliate of the state trust company, as if the co-fiduciary were the sole fiduciary.

(1) Under the terms of the will or trust, the manner in which the voting securities are to be voted may be determined by a donor or beneficiary of the will or trust and the donor or beneficiary actually makes the determination in the matter at issue;

(2) The terms of the will or trust expressly direct the manner in which the securities must be voted to the extent that no discretion is vested in the state trust company as fiduciary; or

(3) The securities are voted solely by a co-fiduciary that is not an affiliate of the state trust company, as if the co-fiduciary were the sole fiduciary.

(b) Voting securities of a state trust company that cannot be voted under this section are considered to be authorized but unissued for purposes of determining the procedures for and results of the affected vote.

Acts 1997, No. 940, § 40.
Ark. Code Ann. § 23-79-2102 — AR Code / Title 23 / Chapter 79 / Subchapter 21 / Section 23-79-2102
Definitions
Status: in_force

As used in this subchapter: (1) "Clinical practice guidelines" means a systematically developed statement derived from peer-reviewed published medical literature, evidence-based research, and widely accepted medical practice to assist decision-making by healthcare providers and patients about appropriate health care for specific clinical circumstances and conditions; (2) "Clinical review criteria" means the written screening procedures, decision abstracts, clinical protocols, and clinical practice guidelines used by a healthcare insurer, health benefit plan, or utilization review organization to determine the medical necessity and appropriateness of healthcare services; (3) "Generic equivalent" means an AB-rated drug that is pharmaceutically and therapeutically equivalent to the drug prescribed; (4) (A) "Health benefit plan" means an individual, blanket, or any group plan, policy, or contract for healthcare services issued, renewed, or extended in this state by a healthcare insurer, health maintenance organization, hospital medical service corporation, or self-insured governmental or church plan in this state. (B) "Health benefit plan" includes: (i) Indemnity and managed care plans; (ii) Plans providing health benefits to state and public school employees under § 21-5-401 et seq.; and (iii) Individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq. (C) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under an automobile or homeowners insurance plan; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A plan that provides only dental benefits or eye and vision care benefits; or (x) A program or plan authorized under 42 U.S.C. § 1396a et seq., as it existed on January 1, 2021, as approved by the United States Secretary of Health and Human Services, excluding individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq.; (5) (A) "Healthcare insurer" means an insurance company, hospital and medical service corporation, or health maintenance organization that issues or delivers health benefit plans in this state and is subject to any of the following laws: (i) The insurance laws of this state; (ii) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; or (iii) Section 23-76-101 et seq., pertaining to health maintenance organizations. (B) "Healthcare insurer" does not include an entity that provides only dental benefits or eye and vision care benefits; (6) "Interchangeable biological product" means a biological product that is interchangeable, as "interchangeable" is defined by 42 U.S.C. § 262(i)(3) , as it existed on January 1, 2021; (7) "Medically necessary" means healthcare services and supplies that, under the applicable standard of care, are appropriate: (A) To improve or preserve health, life, or function; (B) To slow the deterioration of health, life, or function; or (C) For the early screening, prevention, evaluation, diagnosis, or treatment of a disease, condition, illness, or injury; (8) "Step therapy protocol" means a protocol, policy, or program that establishes the specific sequence in which prescription drugs for a specified medical condition and that are medically appropriate for a patient are covered by a healthcare insurer or health benefit plan; (9) "Step therapy protocol exception" means that a step therapy protocol is overridden in favor of immediate coverage of the healthcare provider's selected prescription drug; and (10) (A) "Utilization review organization" means an individual or entity that performs step therapy for at least one (1) of the following: (i) A healthcare insurer; (ii) A preferred provider organization or health maintenance organization; or (iii) Any other individual or entity that provides, offers to provide, or administers hospital, outpatient, medical, or other health benefits to a person treated by a healthcare provider in this state under a policy, health benefit plan, or contract. (B) A healthcare insurer is a utilization review entity if the healthcare insurer performs step therapy. (C) "Utilization review organization" does not include an insurer of automobile, homeowners, or casualty and commercial liability insurance or the insurer's employees, agents, or contractors. Amended by Act 2021, No. 645,§ 1, eff. 7/28/2021. Added by Act 2021, No. 97,§ 2, eff. 1/1/2022.

As used in this subchapter:

(1) "Clinical practice guidelines" means a systematically developed statement derived from peer-reviewed published medical literature, evidence-based research, and widely accepted medical practice to assist decision-making by healthcare providers and patients about appropriate health care for specific clinical circumstances and conditions;

(2) "Clinical review criteria" means the written screening procedures, decision abstracts, clinical protocols, and clinical practice guidelines used by a healthcare insurer, health benefit plan, or utilization review organization to determine the medical necessity and appropriateness of healthcare services;

(3) "Generic equivalent" means an AB-rated drug that is pharmaceutically and therapeutically equivalent to the drug prescribed;

(4) (A) "Health benefit plan" means an individual, blanket, or any group plan, policy, or contract for healthcare services issued, renewed, or extended in this state by a healthcare insurer, health maintenance organization, hospital medical service corporation, or self-insured governmental or church plan in this state. (B) "Health benefit plan" includes: (i) Indemnity and managed care plans; (ii) Plans providing health benefits to state and public school employees under § 21-5-401 et seq.; and (iii) Individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq. (C) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under an automobile or homeowners insurance plan; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A plan that provides only dental benefits or eye and vision care benefits; or (x) A program or plan authorized under 42 U.S.C. § 1396a et seq., as it existed on January 1, 2021, as approved by the United States Secretary of Health and Human Services, excluding individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq.;

(A) "Health benefit plan" means an individual, blanket, or any group plan, policy, or contract for healthcare services issued, renewed, or extended in this state by a healthcare insurer, health maintenance organization, hospital medical service corporation, or self-insured governmental or church plan in this state.

(B) "Health benefit plan" includes: (i) Indemnity and managed care plans; (ii) Plans providing health benefits to state and public school employees under § 21-5-401 et seq.; and (iii) Individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq.

(i) Indemnity and managed care plans;

(ii) Plans providing health benefits to state and public school employees under § 21-5-401 et seq.; and

(iii) Individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq.

(C) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under an automobile or homeowners insurance plan; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A plan that provides only dental benefits or eye and vision care benefits; or (x) A program or plan authorized under 42 U.S.C. § 1396a et seq., as it existed on January 1, 2021, as approved by the United States Secretary of Health and Human Services, excluding individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq.;

(i) A disability income plan;

(ii) A credit insurance plan;

(iii) Insurance coverage issued as a supplement to liability insurance;

(iv) Medical payments under an automobile or homeowners insurance plan;

(v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.;

(vi) A plan that provides only indemnity for hospital confinement;

(vii) An accident-only plan;

(viii) A specified disease plan;

(ix) A plan that provides only dental benefits or eye and vision care benefits; or

(x) A program or plan authorized under 42 U.S.C. § 1396a et seq., as it existed on January 1, 2021, as approved by the United States Secretary of Health and Human Services, excluding individual qualified health insurance plans under the Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq.;

(5) (A) "Healthcare insurer" means an insurance company, hospital and medical service corporation, or health maintenance organization that issues or delivers health benefit plans in this state and is subject to any of the following laws: (i) The insurance laws of this state; (ii) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; or (iii) Section 23-76-101 et seq., pertaining to health maintenance organizations. (B) "Healthcare insurer" does not include an entity that provides only dental benefits or eye and vision care benefits;

(A) "Healthcare insurer" means an insurance company, hospital and medical service corporation, or health maintenance organization that issues or delivers health benefit plans in this state and is subject to any of the following laws: (i) The insurance laws of this state; (ii) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; or (iii) Section 23-76-101 et seq., pertaining to health maintenance organizations.

(i) The insurance laws of this state;

(ii) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; or

(iii) Section 23-76-101 et seq., pertaining to health maintenance organizations.

(B) "Healthcare insurer" does not include an entity that provides only dental benefits or eye and vision care benefits;

(6) "Interchangeable biological product" means a biological product that is interchangeable, as "interchangeable" is defined by 42 U.S.C. § 262(i)(3) , as it existed on January 1, 2021;

(7) "Medically necessary" means healthcare services and supplies that, under the applicable standard of care, are appropriate: (A) To improve or preserve health, life, or function; (B) To slow the deterioration of health, life, or function; or (C) For the early screening, prevention, evaluation, diagnosis, or treatment of a disease, condition, illness, or injury;

(A) To improve or preserve health, life, or function;

(B) To slow the deterioration of health, life, or function; or

(C) For the early screening, prevention, evaluation, diagnosis, or treatment of a disease, condition, illness, or injury;

(8) "Step therapy protocol" means a protocol, policy, or program that establishes the specific sequence in which prescription drugs for a specified medical condition and that are medically appropriate for a patient are covered by a healthcare insurer or health benefit plan;

(9) "Step therapy protocol exception" means that a step therapy protocol is overridden in favor of immediate coverage of the healthcare provider's selected prescription drug; and

(10) (A) "Utilization review organization" means an individual or entity that performs step therapy for at least one (1) of the following: (i) A healthcare insurer; (ii) A preferred provider organization or health maintenance organization; or (iii) Any other individual or entity that provides, offers to provide, or administers hospital, outpatient, medical, or other health benefits to a person treated by a healthcare provider in this state under a policy, health benefit plan, or contract. (B) A healthcare insurer is a utilization review entity if the healthcare insurer performs step therapy. (C) "Utilization review organization" does not include an insurer of automobile, homeowners, or casualty and commercial liability insurance or the insurer's employees, agents, or contractors.

(A) "Utilization review organization" means an individual or entity that performs step therapy for at least one (1) of the following: (i) A healthcare insurer; (ii) A preferred provider organization or health maintenance organization; or (iii) Any other individual or entity that provides, offers to provide, or administers hospital, outpatient, medical, or other health benefits to a person treated by a healthcare provider in this state under a policy, health benefit plan, or contract.

(i) A healthcare insurer;

(ii) A preferred provider organization or health maintenance organization; or

(iii) Any other individual or entity that provides, offers to provide, or administers hospital, outpatient, medical, or other health benefits to a person treated by a healthcare provider in this state under a policy, health benefit plan, or contract.

(B) A healthcare insurer is a utilization review entity if the healthcare insurer performs step therapy.

(C) "Utilization review organization" does not include an insurer of automobile, homeowners, or casualty and commercial liability insurance or the insurer's employees, agents, or contractors.

Amended by Act 2021, No. 645,§ 1, eff. 7/28/2021.

Added by Act 2021, No. 97,§ 2, eff. 1/1/2022.
Ark. Code Ann. § 23-51-186 — AR Code / Title 23 / Chapter 51 / Section 23-51-186
Statements of condition and income
Status: in_force

Each state trust company shall periodically file with the Bank Commissioner a copy of its statement of condition and income. The commissioner shall have the power to call for these reports whenever deemed necessary, in order to obtain a full and complete knowledge of the condition of the trust company. Acts 1997, No. 940, § 86.

Each state trust company shall periodically file with the Bank Commissioner a copy of its statement of condition and income. The commissioner shall have the power to call for these reports whenever deemed necessary, in order to obtain a full and complete knowledge of the condition of the trust company.

Acts 1997, No. 940, § 86.
Ark. Code Ann. § 23-112-804 — AR Code / Title 23 / Chapter 112 / Subchapter 8 / Section 23-112-804
Significant positive economic impact determinations
Status: in_force

(a) If the statement of estimated positive economic impact that is submitted to the Arkansas Motor Vehicle Commission establishes that a special event has a significant positive economic impact, the special event is exempt from regulation by the commission as provided under § 23-112-805 . (b) If the statement of estimated positive economic impact that is presented to the commission establishes that a special event will not have a significant positive economic impact, then the commission shall determine whether the special event is exempt from this chapter and any rules promulgated by the commission. Amended by Act 2023, No. 696,§ 1, eff. 8/1/2023. Acts 2007, No. 235, § 1.

(a) If the statement of estimated positive economic impact that is submitted to the Arkansas Motor Vehicle Commission establishes that a special event has a significant positive economic impact, the special event is exempt from regulation by the commission as provided under § 23-112-805 .

(b) If the statement of estimated positive economic impact that is presented to the commission establishes that a special event will not have a significant positive economic impact, then the commission shall determine whether the special event is exempt from this chapter and any rules promulgated by the commission.

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

Acts 2007, No. 235, § 1.
Ark. Code Ann. § 23-17-236 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-236
Construction standards
Status: in_force

(a) Construction of telecommunications lines and facilities by a telecommunications company or cooperative as a minimum requirement shall comply with the standards of the National Electrical Safety Code of the Institute of Electrical and Electronics Engineers in effect at the time of the construction or requirements set up by the Arkansas Public Service Commission. Construction shall be in such manner and according to such specifications as will avoid interference with, or hazards to, existing telecommunications lines, facilities, or systems. In any litigation in a court of record, any violation by a telecommunications company or cooperative of the National Electrical Safety Code or requirements established by the commission shall merely be evidence of negligence. (b) If a cooperative places or utilizes any telecommunications line, cable, or facility over, upon, or under lands owned or occupied by a nongovernmental entity with eminent domain rights under Arkansas law, the nongovernmental entity shall be entitled to just compensation of ten cents (10¢) per linear foot traversed on such entity's land. The reasonableness of the just compensation for use of the nongovernmental entity's land shall be presumed. This presumption shall be rebuttable, but in no event shall the just compensation paid by the cooperative exceed the diminution in value of the land traversed resulting from the use. (c) Whenever a cooperative shall have placed any telecommunications line, cable, or facility upon, under, or above private lands, as title shall be reflected in the deed records of the county in which the lands lie, no entity having power of eminent domain shall exercise the power or conduct roadway expansion, relocation activities, or roadside excavation activities in such a manner as to reasonably require relocation of the telecommunications line, cable, or facility unless: (1) The written consent of the cooperative is first obtained; or (2) The cooperative is paid the reasonable cost of replacing and relocating the line, cable, or facility. The payment shall be considered just compensation to the cooperative. Acts 1951, No. 51, § 39; A.S.A. 1947, § 77-1639; Acts 1989, No. 437, § 22; 1999, No. 946, § 13.

(a) Construction of telecommunications lines and facilities by a telecommunications company or cooperative as a minimum requirement shall comply with the standards of the National Electrical Safety Code of the Institute of Electrical and Electronics Engineers in effect at the time of the construction or requirements set up by the Arkansas Public Service Commission. Construction shall be in such manner and according to such specifications as will avoid interference with, or hazards to, existing telecommunications lines, facilities, or systems. In any litigation in a court of record, any violation by a telecommunications company or cooperative of the National Electrical Safety Code or requirements established by the commission shall merely be evidence of negligence.

(b) If a cooperative places or utilizes any telecommunications line, cable, or facility over, upon, or under lands owned or occupied by a nongovernmental entity with eminent domain rights under Arkansas law, the nongovernmental entity shall be entitled to just compensation of ten cents (10¢) per linear foot traversed on such entity's land. The reasonableness of the just compensation for use of the nongovernmental entity's land shall be presumed. This presumption shall be rebuttable, but in no event shall the just compensation paid by the cooperative exceed the diminution in value of the land traversed resulting from the use.

(c) Whenever a cooperative shall have placed any telecommunications line, cable, or facility upon, under, or above private lands, as title shall be reflected in the deed records of the county in which the lands lie, no entity having power of eminent domain shall exercise the power or conduct roadway expansion, relocation activities, or roadside excavation activities in such a manner as to reasonably require relocation of the telecommunications line, cable, or facility unless: (1) The written consent of the cooperative is first obtained; or (2) The cooperative is paid the reasonable cost of replacing and relocating the line, cable, or facility. The payment shall be considered just compensation to the cooperative.

(1) The written consent of the cooperative is first obtained; or

(2) The cooperative is paid the reasonable cost of replacing and relocating the line, cable, or facility. The payment shall be considered just compensation to the cooperative.

Acts 1951, No. 51, § 39; A.S.A. 1947, § 77-1639; Acts 1989, No. 437, § 22; 1999, No. 946, § 13.
Ark. Code Ann. § 23-69-155 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-155
Liquidation - Mutual member's share of assets
Status: in_force

(a) Upon any liquidation of a domestic mutual insurer, its assets remaining after discharge of its indebtedness, policy obligations, repayment of contributed or borrowed surplus, if any, and expenses of administration shall be distributed to existing persons who were its members at any time within thirty-six (36) months next preceding the date the liquidation was authorized or ordered, or the date of last termination of the insurer's certificate of authority, whichever date is the earlier. (b) The distributive share of each member shall be in the proportion that the aggregate premiums earned by the insurer on the policies of the member during the combined periods of his or her membership bear to the aggregate of all premiums so earned on the policies of all such members. The insurer may, and if a life insurer shall, make a reasonable classification of its policies so held by the members, and a formula based upon the classification, for determining the equitable distributive share of each member. The classification and formula shall be subject to the approval of the Insurance Commissioner. Acts 1959, No. 148, § 508; A.S.A. 1947, § 66-4256.

(a) Upon any liquidation of a domestic mutual insurer, its assets remaining after discharge of its indebtedness, policy obligations, repayment of contributed or borrowed surplus, if any, and expenses of administration shall be distributed to existing persons who were its members at any time within thirty-six (36) months next preceding the date the liquidation was authorized or ordered, or the date of last termination of the insurer's certificate of authority, whichever date is the earlier.

(b) The distributive share of each member shall be in the proportion that the aggregate premiums earned by the insurer on the policies of the member during the combined periods of his or her membership bear to the aggregate of all premiums so earned on the policies of all such members. The insurer may, and if a life insurer shall, make a reasonable classification of its policies so held by the members, and a formula based upon the classification, for determining the equitable distributive share of each member. The classification and formula shall be subject to the approval of the Insurance Commissioner.

Acts 1959, No. 148, § 508; A.S.A. 1947, § 66-4256.
Ark. Code Ann. § 23-13-212 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-212
Appeals - Notice
Status: in_force

Upon the filing of a motion for appeal, the Arkansas Department of Transportation shall forthwith serve notice of the appeal upon all parties to the proceeding appealed from. Amended by Act 2017, No. 707,§ 189, eff. 8/1/2017. Acts 1955, No. 397, § 7; 1959, No. 267, § 1; A.S.A. 1947, § 73-1760.

Upon the filing of a motion for appeal, the Arkansas Department of Transportation shall forthwith serve notice of the appeal upon all parties to the proceeding appealed from.

Amended by Act 2017, No. 707,§ 189, eff. 8/1/2017.

Acts 1955, No. 397, § 7; 1959, No. 267, § 1; A.S.A. 1947, § 73-1760.
Ark. Code Ann. § 23-88-306 — AR Code / Title 23 / Chapter 88 / Subchapter 3 / Section 23-88-306
Provisions of plan
Status: in_force

(a) (1) The plan shall provide for the efficient, economical, and fair administration of the Arkansas Rural Risk Underwriting Association and shall be consistent with the purposes of this subchapter. Therefore, the plan shall include provisions for the equitable apportionment among the association's members of the expenses, profits, and losses arising from the association's rural risk writings. (2) A member's participation in the association's expenses, profits, and losses shall be in the proportion that the net direct property insurance premiums of each member written in this state during the preceding calendar year bear to the aggregate net direct property insurance premiums of all members of the association written in this state during the preceding calendar year. (3) (A) The governing board shall be empowered to make assessments as may be necessary to provide funds needed to make payment of all loss claims and expenses of the association. (B) Assessments during a calendar year may be made up to, but not in excess of, two percent (2%) of each insurer's net direct written premium for the preceding calendar year. (C) If the maximum assessment in any calendar year results in a deficiency in premiums to losses, assessments may be made in the next and any successive calendar year. (4) Further, the plan shall provide for an annual credit to members for basic property insurance voluntarily written on rural risks. This dollar credit shall relieve a member wholly or partially from participation in the association's expenses and losses. (b) The plan shall also establish reasonable underwriting standards, subject to the approval of the Insurance Commissioner. Any applicant that meets these standards will be an insurable risk and entitled to property insurance through the association. (c) The plan shall include deductibles, rules for classification of risks, rate modifications consistent with the objective of providing and maintaining funds sufficient to pay rural risk losses and expenses, and the limits of coverage available. (d) The commissioner shall assess all members an amount not to exceed two hundred dollars ($200) annually, if needed, for the expense of mailing fire department renewal subscription notices. Acts 1985 (1st Ex. Sess.), No. 25, § 5; A.S.A. 1947, § 66-6105; Acts 2003, No. 1326, § 1; 2007, No. 588, § 1.

(a) (1) The plan shall provide for the efficient, economical, and fair administration of the Arkansas Rural Risk Underwriting Association and shall be consistent with the purposes of this subchapter. Therefore, the plan shall include provisions for the equitable apportionment among the association's members of the expenses, profits, and losses arising from the association's rural risk writings. (2) A member's participation in the association's expenses, profits, and losses shall be in the proportion that the net direct property insurance premiums of each member written in this state during the preceding calendar year bear to the aggregate net direct property insurance premiums of all members of the association written in this state during the preceding calendar year. (3) (A) The governing board shall be empowered to make assessments as may be necessary to provide funds needed to make payment of all loss claims and expenses of the association. (B) Assessments during a calendar year may be made up to, but not in excess of, two percent (2%) of each insurer's net direct written premium for the preceding calendar year. (C) If the maximum assessment in any calendar year results in a deficiency in premiums to losses, assessments may be made in the next and any successive calendar year. (4) Further, the plan shall provide for an annual credit to members for basic property insurance voluntarily written on rural risks. This dollar credit shall relieve a member wholly or partially from participation in the association's expenses and losses.

(1) The plan shall provide for the efficient, economical, and fair administration of the Arkansas Rural Risk Underwriting Association and shall be consistent with the purposes of this subchapter. Therefore, the plan shall include provisions for the equitable apportionment among the association's members of the expenses, profits, and losses arising from the association's rural risk writings.

(2) A member's participation in the association's expenses, profits, and losses shall be in the proportion that the net direct property insurance premiums of each member written in this state during the preceding calendar year bear to the aggregate net direct property insurance premiums of all members of the association written in this state during the preceding calendar year.

(3) (A) The governing board shall be empowered to make assessments as may be necessary to provide funds needed to make payment of all loss claims and expenses of the association. (B) Assessments during a calendar year may be made up to, but not in excess of, two percent (2%) of each insurer's net direct written premium for the preceding calendar year. (C) If the maximum assessment in any calendar year results in a deficiency in premiums to losses, assessments may be made in the next and any successive calendar year.

(A) The governing board shall be empowered to make assessments as may be necessary to provide funds needed to make payment of all loss claims and expenses of the association.

(B) Assessments during a calendar year may be made up to, but not in excess of, two percent (2%) of each insurer's net direct written premium for the preceding calendar year.

(C) If the maximum assessment in any calendar year results in a deficiency in premiums to losses, assessments may be made in the next and any successive calendar year.

(4) Further, the plan shall provide for an annual credit to members for basic property insurance voluntarily written on rural risks. This dollar credit shall relieve a member wholly or partially from participation in the association's expenses and losses.

(b) The plan shall also establish reasonable underwriting standards, subject to the approval of the Insurance Commissioner. Any applicant that meets these standards will be an insurable risk and entitled to property insurance through the association.

(c) The plan shall include deductibles, rules for classification of risks, rate modifications consistent with the objective of providing and maintaining funds sufficient to pay rural risk losses and expenses, and the limits of coverage available.

(d) The commissioner shall assess all members an amount not to exceed two hundred dollars ($200) annually, if needed, for the expense of mailing fire department renewal subscription notices.

Acts 1985 (1st Ex. Sess.), No. 25, § 5; A.S.A. 1947, § 66-6105; Acts 2003, No. 1326, § 1; 2007, No. 588, § 1.
Ark. Code Ann. § 23-4-802 — AR Code / Title 23 / Chapter 4 / Subchapter 8 / Section 23-4-802
Granting of free passes to certain government officials prohibited
Status: in_force

(a) No railroad or transportation company organized or doing business in this state under any act of incorporation or general law of this state shall grant any free pass in the cars or other modes of conveyance over the line of any such railroad or transportation company, for any length of time or for any distance, to any officer of this state, legislative, executive, or judicial, whereby any such officer may be transported for any length of time or for any distance over the line of the railroad or transportation company, either free of charge therefor or for a less compensation than that demanded or received from the general public. (b) (1) Any railroad or transportation company that shall grant any free pass to any such officer in violation of this section shall forfeit and pay for every such offense an amount not less than two hundred dollars ($200) nor exceeding two thousand dollars ($2,000). (2) (A) The penalty is to be recovered in an action at law brought in the name of the state by the prosecuting attorney thereof in any county of the state through or into which the railroad corporation or transportation company may run its railroad or transportation line. (B) The prosecuting attorney shall be allowed a fee for his or her services of ten percent (10%) of the amount that may be collected in any suit, in case judgment is rendered for the plaintiff. (C) The balance and residue of any sums recovered in the suit shall be paid into the county treasury of the county where the suit is brought, to be appropriated to general county purposes in the county. (D) In any such suit should judgment be rendered for the defendant, the costs of the suit shall be paid by the county. Acts 1887, No. 22, §§ 1, 2, p. 27; C. & M. Dig., §§ 888, 889; Pope's Dig., §§ 1090, 1091; A.S.A. 1947, §§ 73-1527, 73-1528.

(a) No railroad or transportation company organized or doing business in this state under any act of incorporation or general law of this state shall grant any free pass in the cars or other modes of conveyance over the line of any such railroad or transportation company, for any length of time or for any distance, to any officer of this state, legislative, executive, or judicial, whereby any such officer may be transported for any length of time or for any distance over the line of the railroad or transportation company, either free of charge therefor or for a less compensation than that demanded or received from the general public.

(b) (1) Any railroad or transportation company that shall grant any free pass to any such officer in violation of this section shall forfeit and pay for every such offense an amount not less than two hundred dollars ($200) nor exceeding two thousand dollars ($2,000). (2) (A) The penalty is to be recovered in an action at law brought in the name of the state by the prosecuting attorney thereof in any county of the state through or into which the railroad corporation or transportation company may run its railroad or transportation line. (B) The prosecuting attorney shall be allowed a fee for his or her services of ten percent (10%) of the amount that may be collected in any suit, in case judgment is rendered for the plaintiff. (C) The balance and residue of any sums recovered in the suit shall be paid into the county treasury of the county where the suit is brought, to be appropriated to general county purposes in the county. (D) In any such suit should judgment be rendered for the defendant, the costs of the suit shall be paid by the county.

(1) Any railroad or transportation company that shall grant any free pass to any such officer in violation of this section shall forfeit and pay for every such offense an amount not less than two hundred dollars ($200) nor exceeding two thousand dollars ($2,000).

(2) (A) The penalty is to be recovered in an action at law brought in the name of the state by the prosecuting attorney thereof in any county of the state through or into which the railroad corporation or transportation company may run its railroad or transportation line. (B) The prosecuting attorney shall be allowed a fee for his or her services of ten percent (10%) of the amount that may be collected in any suit, in case judgment is rendered for the plaintiff. (C) The balance and residue of any sums recovered in the suit shall be paid into the county treasury of the county where the suit is brought, to be appropriated to general county purposes in the county. (D) In any such suit should judgment be rendered for the defendant, the costs of the suit shall be paid by the county.

(A) The penalty is to be recovered in an action at law brought in the name of the state by the prosecuting attorney thereof in any county of the state through or into which the railroad corporation or transportation company may run its railroad or transportation line.

(B) The prosecuting attorney shall be allowed a fee for his or her services of ten percent (10%) of the amount that may be collected in any suit, in case judgment is rendered for the plaintiff.

(C) The balance and residue of any sums recovered in the suit shall be paid into the county treasury of the county where the suit is brought, to be appropriated to general county purposes in the county.

(D) In any such suit should judgment be rendered for the defendant, the costs of the suit shall be paid by the county.

Acts 1887, No. 22, §§ 1, 2, p. 27; C. & M. Dig., §§ 888, 889; Pope's Dig., §§ 1090, 1091; A.S.A. 1947, §§ 73-1527, 73-1528.
Ark. Code Ann. § 23-48-603 — AR Code / Title 23 / Chapter 48 / Subchapter 6 / Section 23-48-603
Dissenting from plan of exchange
Status: in_force

(a) (1) The owner of shares of a state bank which were voted against a plan of exchange, and who has given notice in writing to the state bank at or prior to the meeting of the stockholders approving the plan that he or she dissents from the plan of exchange, shall be entitled to receive in cash the value of the shares held by him or her, if: (A) The plan of exchange is consummated; and (B) The dissenting stockholder has delivered a written demand for payment to the state bank at any time within ten (10) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded. (2) (A) This written demand for payment shall state the number and the class of shares owned by the dissenting stockholder. (B) Any dissenting stockholder failing to make such a demand shall be bound by the terms of the plan of exchange. (3) (A) The state bank shall fix an amount which it considers to be not more than the fair market value of the shares of the state bank as of the date on which the stockholders' meeting authorizing the plan of exchange was concluded, which it will offer to pay dissenting stockholders entitled to payment in cash. (B) Upon receipt from a dissenting stockholder of a written demand for payment in cash of the fair value of his or her shares, the state bank shall give the dissenting stockholder notice of the amount it will pay for dissenting shares within twenty (20) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded. (4) Any dissenting stockholder may agree to accept the amount in lieu of purchasing the appraisal remedy set forth in subsection (b) of this section by delivering a written acceptance of the offer to the state bank within thirty (30) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded. (b) (1) The value of shares held by dissenting stockholders, entitled to receive in cash the value of the shares held by them, who do not accept the offer of the state bank within the thirty-day period set out in subdivision (a)(4) of this section shall be determined as of the date on which the stockholders' meeting authorizing the plan of exchange was concluded by three (3) appraisers: (A) One (1) shall be selected by the dissenting stockholders by the vote of a majority of the aggregate number of dissenting shares held by the dissenting stockholders; (B) One (1) shall be selected by the board of directors of the state bank; and (C) The third shall be selected by the two (2) so chosen. (2) (A) The valuation agreed upon by any two (2) of the three (3) appraisers thus chosen shall govern. (B) (i) However, if the value so fixed shall not be satisfactory to any dissenting stockholder who has requested payment as provided in subdivision (a)(1) of this section, the stockholder may, within five (5) days after being notified of the appraised value of his or her shares, appeal to the Bank Commissioner. (ii) The commissioner shall cause a reappraisal to be made, which shall be final and binding as to the value of the shares of the appellant. (3) If, within ninety (90) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded, for any reason, one (1) or more of the appraisers is not selected as provided in subdivision (b)(1) of this section, or the appraisers fail to determine the value of dissenting shares, the commissioner shall, upon written request of any interested party made within five (5) days after the expiration of the ninety-day period, cause an appraisal to be made which shall be final and binding upon all parties. (c) (1) The expenses of the appraiser selected by the dissenting stockholders shall be paid by the dissenting stockholders. (2) The expenses of the appraiser selected by the board of directors of the state bank shall be paid by the state bank. (3) The expenses of the third appraiser shall be paid by and prorated among the dissenting stockholders and the state bank in such manner as is determined by the commissioner to be fair and equitable under the circumstances. (d) (1) If the commissioner is required to make the appraisal, the expenses of the commissioner in making the appraisal shall be paid by and prorated among the dissenting stockholders and the state bank in such manner as is determined by the commissioner to be fair and equitable under the circumstances. (2) If the commissioner is required to make a reappraisal, the expenses of the commissioner in making the reappraisal shall be paid by the appellant. (e) If, within ninety (90) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded, for any reason, one (1) or more of the appraisers is not selected as provided in subsection (b) of this section or the appraisers fail to determine the value of dissenting shares, and, if no written request to value the dissenting shares is filed with the commissioner within five (5) days after the expiration of the ninety-day period, then all dissenting stockholders who have failed to accept the offer of the state bank within the thirty-day period prescribed in subdivision (a)(4) of this section shall be bound by the terms of the plan of exchange. (f) The amount due a dissenting stockholder under an accepted offer of the state bank or under the appraisal shall constitute a debt of the state bank which must be paid, if and when the plan of exchange is consummated, simultaneously with the surrender by the dissenting stockholder of his or her shares. (g) Within ten (10) days after the plan of exchange is consummated, the state bank shall give written notice thereof to each dissenting stockholder who is entitled to receive in cash the fair value of his or her shares. (h) The plan of exchange shall provide for payment of or the manner of disposing of any shares of the state bank not taken by dissenting stockholders. Acts 1997, No. 89, § 1.

(a) (1) The owner of shares of a state bank which were voted against a plan of exchange, and who has given notice in writing to the state bank at or prior to the meeting of the stockholders approving the plan that he or she dissents from the plan of exchange, shall be entitled to receive in cash the value of the shares held by him or her, if: (A) The plan of exchange is consummated; and (B) The dissenting stockholder has delivered a written demand for payment to the state bank at any time within ten (10) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded. (2) (A) This written demand for payment shall state the number and the class of shares owned by the dissenting stockholder. (B) Any dissenting stockholder failing to make such a demand shall be bound by the terms of the plan of exchange. (3) (A) The state bank shall fix an amount which it considers to be not more than the fair market value of the shares of the state bank as of the date on which the stockholders' meeting authorizing the plan of exchange was concluded, which it will offer to pay dissenting stockholders entitled to payment in cash. (B) Upon receipt from a dissenting stockholder of a written demand for payment in cash of the fair value of his or her shares, the state bank shall give the dissenting stockholder notice of the amount it will pay for dissenting shares within twenty (20) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded. (4) Any dissenting stockholder may agree to accept the amount in lieu of purchasing the appraisal remedy set forth in subsection (b) of this section by delivering a written acceptance of the offer to the state bank within thirty (30) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded.

(1) The owner of shares of a state bank which were voted against a plan of exchange, and who has given notice in writing to the state bank at or prior to the meeting of the stockholders approving the plan that he or she dissents from the plan of exchange, shall be entitled to receive in cash the value of the shares held by him or her, if: (A) The plan of exchange is consummated; and (B) The dissenting stockholder has delivered a written demand for payment to the state bank at any time within ten (10) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded.

(A) The plan of exchange is consummated; and

(B) The dissenting stockholder has delivered a written demand for payment to the state bank at any time within ten (10) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded.

(2) (A) This written demand for payment shall state the number and the class of shares owned by the dissenting stockholder. (B) Any dissenting stockholder failing to make such a demand shall be bound by the terms of the plan of exchange.

(A) This written demand for payment shall state the number and the class of shares owned by the dissenting stockholder.

(B) Any dissenting stockholder failing to make such a demand shall be bound by the terms of the plan of exchange.

(3) (A) The state bank shall fix an amount which it considers to be not more than the fair market value of the shares of the state bank as of the date on which the stockholders' meeting authorizing the plan of exchange was concluded, which it will offer to pay dissenting stockholders entitled to payment in cash. (B) Upon receipt from a dissenting stockholder of a written demand for payment in cash of the fair value of his or her shares, the state bank shall give the dissenting stockholder notice of the amount it will pay for dissenting shares within twenty (20) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded.

(A) The state bank shall fix an amount which it considers to be not more than the fair market value of the shares of the state bank as of the date on which the stockholders' meeting authorizing the plan of exchange was concluded, which it will offer to pay dissenting stockholders entitled to payment in cash.

(B) Upon receipt from a dissenting stockholder of a written demand for payment in cash of the fair value of his or her shares, the state bank shall give the dissenting stockholder notice of the amount it will pay for dissenting shares within twenty (20) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded.

(4) Any dissenting stockholder may agree to accept the amount in lieu of purchasing the appraisal remedy set forth in subsection (b) of this section by delivering a written acceptance of the offer to the state bank within thirty (30) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded.

(b) (1) The value of shares held by dissenting stockholders, entitled to receive in cash the value of the shares held by them, who do not accept the offer of the state bank within the thirty-day period set out in subdivision (a)(4) of this section shall be determined as of the date on which the stockholders' meeting authorizing the plan of exchange was concluded by three (3) appraisers: (A) One (1) shall be selected by the dissenting stockholders by the vote of a majority of the aggregate number of dissenting shares held by the dissenting stockholders; (B) One (1) shall be selected by the board of directors of the state bank; and (C) The third shall be selected by the two (2) so chosen. (2) (A) The valuation agreed upon by any two (2) of the three (3) appraisers thus chosen shall govern. (B) (i) However, if the value so fixed shall not be satisfactory to any dissenting stockholder who has requested payment as provided in subdivision (a)(1) of this section, the stockholder may, within five (5) days after being notified of the appraised value of his or her shares, appeal to the Bank Commissioner. (ii) The commissioner shall cause a reappraisal to be made, which shall be final and binding as to the value of the shares of the appellant. (3) If, within ninety (90) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded, for any reason, one (1) or more of the appraisers is not selected as provided in subdivision (b)(1) of this section, or the appraisers fail to determine the value of dissenting shares, the commissioner shall, upon written request of any interested party made within five (5) days after the expiration of the ninety-day period, cause an appraisal to be made which shall be final and binding upon all parties.

(1) The value of shares held by dissenting stockholders, entitled to receive in cash the value of the shares held by them, who do not accept the offer of the state bank within the thirty-day period set out in subdivision (a)(4) of this section shall be determined as of the date on which the stockholders' meeting authorizing the plan of exchange was concluded by three (3) appraisers: (A) One (1) shall be selected by the dissenting stockholders by the vote of a majority of the aggregate number of dissenting shares held by the dissenting stockholders; (B) One (1) shall be selected by the board of directors of the state bank; and (C) The third shall be selected by the two (2) so chosen.

(A) One (1) shall be selected by the dissenting stockholders by the vote of a majority of the aggregate number of dissenting shares held by the dissenting stockholders;

(B) One (1) shall be selected by the board of directors of the state bank; and

(C) The third shall be selected by the two (2) so chosen.

(2) (A) The valuation agreed upon by any two (2) of the three (3) appraisers thus chosen shall govern. (B) (i) However, if the value so fixed shall not be satisfactory to any dissenting stockholder who has requested payment as provided in subdivision (a)(1) of this section, the stockholder may, within five (5) days after being notified of the appraised value of his or her shares, appeal to the Bank Commissioner. (ii) The commissioner shall cause a reappraisal to be made, which shall be final and binding as to the value of the shares of the appellant.

(A) The valuation agreed upon by any two (2) of the three (3) appraisers thus chosen shall govern.

(B) (i) However, if the value so fixed shall not be satisfactory to any dissenting stockholder who has requested payment as provided in subdivision (a)(1) of this section, the stockholder may, within five (5) days after being notified of the appraised value of his or her shares, appeal to the Bank Commissioner. (ii) The commissioner shall cause a reappraisal to be made, which shall be final and binding as to the value of the shares of the appellant.

(i) However, if the value so fixed shall not be satisfactory to any dissenting stockholder who has requested payment as provided in subdivision (a)(1) of this section, the stockholder may, within five (5) days after being notified of the appraised value of his or her shares, appeal to the Bank Commissioner.

(ii) The commissioner shall cause a reappraisal to be made, which shall be final and binding as to the value of the shares of the appellant.

(3) If, within ninety (90) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded, for any reason, one (1) or more of the appraisers is not selected as provided in subdivision (b)(1) of this section, or the appraisers fail to determine the value of dissenting shares, the commissioner shall, upon written request of any interested party made within five (5) days after the expiration of the ninety-day period, cause an appraisal to be made which shall be final and binding upon all parties.

(c) (1) The expenses of the appraiser selected by the dissenting stockholders shall be paid by the dissenting stockholders. (2) The expenses of the appraiser selected by the board of directors of the state bank shall be paid by the state bank. (3) The expenses of the third appraiser shall be paid by and prorated among the dissenting stockholders and the state bank in such manner as is determined by the commissioner to be fair and equitable under the circumstances.

(1) The expenses of the appraiser selected by the dissenting stockholders shall be paid by the dissenting stockholders.

(2) The expenses of the appraiser selected by the board of directors of the state bank shall be paid by the state bank.

(3) The expenses of the third appraiser shall be paid by and prorated among the dissenting stockholders and the state bank in such manner as is determined by the commissioner to be fair and equitable under the circumstances.

(d) (1) If the commissioner is required to make the appraisal, the expenses of the commissioner in making the appraisal shall be paid by and prorated among the dissenting stockholders and the state bank in such manner as is determined by the commissioner to be fair and equitable under the circumstances. (2) If the commissioner is required to make a reappraisal, the expenses of the commissioner in making the reappraisal shall be paid by the appellant.

(1) If the commissioner is required to make the appraisal, the expenses of the commissioner in making the appraisal shall be paid by and prorated among the dissenting stockholders and the state bank in such manner as is determined by the commissioner to be fair and equitable under the circumstances.

(2) If the commissioner is required to make a reappraisal, the expenses of the commissioner in making the reappraisal shall be paid by the appellant.

(e) If, within ninety (90) days after the date on which the stockholders' meeting authorizing the plan of exchange was concluded, for any reason, one (1) or more of the appraisers is not selected as provided in subsection (b) of this section or the appraisers fail to determine the value of dissenting shares, and, if no written request to value the dissenting shares is filed with the commissioner within five (5) days after the expiration of the ninety-day period, then all dissenting stockholders who have failed to accept the offer of the state bank within the thirty-day period prescribed in subdivision (a)(4) of this section shall be bound by the terms of the plan of exchange.

(f) The amount due a dissenting stockholder under an accepted offer of the state bank or under the appraisal shall constitute a debt of the state bank which must be paid, if and when the plan of exchange is consummated, simultaneously with the surrender by the dissenting stockholder of his or her shares.

(g) Within ten (10) days after the plan of exchange is consummated, the state bank shall give written notice thereof to each dissenting stockholder who is entitled to receive in cash the fair value of his or her shares.

(h) The plan of exchange shall provide for payment of or the manner of disposing of any shares of the state bank not taken by dissenting stockholders.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-112-610 — AR Code / Title 23 / Chapter 112 / Subchapter 6 / Section 23-112-610
Display of dealer's license
Status: in_force

(a) Each dealer licensed under this subchapter shall maintain for display, in a conspicuous place at the dealer's business location, the license certificate issued by the Department of Arkansas State Police. (b) (1) Each dealer shall also have his or her used motor vehicle dealer's license name conspicuously displayed on all signage. (2) All printed advertisements shall contain the dealer's name or the words "AR DLR" with the Department of Arkansas State Police dealer's license number assigned to the dealer. Acts 1993, No. 490, § 9; 1995, No. 357, § 3.

(a) Each dealer licensed under this subchapter shall maintain for display, in a conspicuous place at the dealer's business location, the license certificate issued by the Department of Arkansas State Police.

(b) (1) Each dealer shall also have his or her used motor vehicle dealer's license name conspicuously displayed on all signage. (2) All printed advertisements shall contain the dealer's name or the words "AR DLR" with the Department of Arkansas State Police dealer's license number assigned to the dealer.

(1) Each dealer shall also have his or her used motor vehicle dealer's license name conspicuously displayed on all signage.

(2) All printed advertisements shall contain the dealer's name or the words "AR DLR" with the Department of Arkansas State Police dealer's license number assigned to the dealer.

Acts 1993, No. 490, § 9; 1995, No. 357, § 3.