Ark. Code Ann. § 23-112-313 — AR Code / Title 23 / Chapter 112 / Subchapter 3 / Section 23-112-313
Warranty agreements - Definitions
Status: in_force

(a) Every manufacturer, distributor, wholesaler, distributor branch or division, factory branch or division, or wholesale branch or division shall properly fulfill any warranty or recall campaign agreements and adequately and fairly compensate each of its motor vehicle dealers for labor and parts. (b) The compensation shall not fail to include reasonable compensation for diagnostic work, repair service, labor, and parts. (c) (1) Time allowances for the diagnosis and performance of warranty or recall campaign work and service shall be reasonable and adequate for the work to be performed. (2) In the determination of what constitutes reasonable compensation for warranty or recall campaign work and service under this subsection subject to § 23-112-310(d)(1)(A) , the principal factor to be considered is the labor rate per hour or parts rate that is charged by the motor vehicle dealer to the motor vehicle dealer's retail customers, exclusive of routine maintenance performed on a vehicle. (3) The compensation of a motor vehicle dealer for warranty or recall campaign service and parts shall not be less than the rates charged by the motor vehicle dealer for like service to retail customers for nonwarranty service and repairs and parts, provided the rate is reasonable. (4) The motor vehicle dealer shall calculate the labor rate by dividing the amount of the motor vehicle dealer's total labor sales from any qualified repair orders by the total labor hours that generated the labor charges in the qualified repair orders. (5) The motor vehicle dealer shall calculate the rate for parts by: (A) Determining the total charges for parts from the qualified repair orders submitted; and (B) Dividing the total charges under subdivision (c)(5)(A) of this section by the motor vehicle dealer's total cost of the purchase of those parts, subtracting one (1), and multiplying by one hundred (100) to produce a percentage. (6) (A) As used in this section, "qualified repair order" means a customer pay repair order paid by a retail customer, exclusive of routine maintenance performed on the vehicle. (B) Qualified repair orders used to calculate the labor rate and rate for parts under this section shall be qualified repair orders from the lesser of a: (i) Reasonable look-back period not to exceed one hundred (100) sequential customer pay repair orders with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order request; or (ii) Ninety-day look-back period with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order. (C) (i) No repair order shall be excluded from the markup computation solely because it contains repairs using nonoriginal equipment manufacturer parts. (ii) However, only the portion of the repair order that uses original equipment manufacturer parts shall be included in the computation of the motor vehicle dealer's rate for parts. (7) For the purposes of this section, a motor vehicle dealer shall submit a written request to be compensated under this section. (d) (1) (A) The pricing for a recalled part shall not be reduced to an amount that is less than the original dealer cost or price for the same part unless the manufacturer obtains a discounted rate for the recalled part from a supplier. (B) A recalled part is considered the same part if it is substantially the same part regardless of the part number. (2) A part-by-part analysis is not required to determine the retail rate for parts. (3) The parts mark-up shall not be substituted for a handling allowance or similar pricing amount that results in the reduction of compensation for the dealer. (e) (1) All claims under this section, either original or resubmitted, made by motor vehicle dealers for the labor and parts shall be either approved or disapproved within thirty (30) days following their approval or disapproval. (2) (A) (i) The motor vehicle dealer who submits a claim which is disapproved shall be notified in writing of the disapproval within the same period, and the notice shall state the specific grounds upon which the disapproval is based. (ii) The motor vehicle dealer may correct and resubmit the disapproved claims within thirty (30) days of receipt of disapproval. (B) Any claims not specifically disapproved in writing within thirty (30) days from their submission shall be deemed approved, and payment shall follow within thirty (30) days. (3) (A) A claim shall not be disapproved because a clerical error was made that does not render the amount of the claim incorrect, including without limitation clerical errors that occur as a result of a manufacturer or distributor's prior approval process. (B) However, a dealer may contest the disapproval through the manufacturer's appeals process. (4) (A) The manufacturer or franchiser may: (i) Require documentation for claims; (ii) Audit the claims within a one-year period from the date the claim was paid or credit issued by the manufacturer or franchiser; and (iii) Charge back any false or unsubstantiated claims. (B) The audit and charge-back provisions of this subsection also apply to all other incentive and reimbursement programs for a period of twelve (12) months after the date of the transactions that are subject to audit by the franchiser. (C) However, the manufacturer retains the right to charge back any fraudulent claim if the manufacturer establishes in a court of competent jurisdiction in this state that the claim is fraudulent within a period not to exceed two (2) years from the date of the claim in question. (D) (i) A dealer may file an appeal with the Arkansas Motor Vehicle Commission to protest any chargeback under this subdivision (e)(4) within ninety (90) days of notification by the manufacturer or distributor. (ii) If a dealer files an appeal of the chargeback with the commission, the manufacturer or distributor shall not levy the chargeback until the appeal is resolved. The commission shall hold a hearing on the matter no later than one hundred twenty (120) days from the time the appeal is filed unless all parties have otherwise agreed to settle the matter. (iii) An appeal by the licensee under this subdivision (e)(4)(D) shall be in accordance with § 23-112-501 et seq. (f) As used in this section, "routine maintenance" means motor vehicle upkeep not covered under the manufacturer's warranty, including without limitation tire rotations and the replacement of: (1) Tires; (2) Fluids; (3) Filters; (4) Batteries, other than electric vehicle or hybrid vehicle propulsion batteries; (5) Belts; (6) Windshield wipers; and (7) Brake pads. (g) A manufacturer, distributor, wholesaler, distributor branch or division, factory branch or division, or wholesale branch or division shall compensate a motor vehicle dealer that provides assistance requested by a customer whose motor vehicle was subjected to an over-the-air or remote change, repair, or update to any part, system, accessory, or function by the motor vehicle manufacturer or distributor and performed at the motor vehicle dealer's location or other manufacturer-authorized repair location of the motor vehicle dealer. Amended by Act 2023, No. 515,§ 2, eff. 8/1/2023. Amended by Act 2023, No. 515,§ 1, eff. 8/1/2023. Amended by Act 2021, No. 1077,§ 6, eff. 7/28/2021. Amended by Act 2021, No. 1077,§ 5, eff. 7/28/2021. Amended by Act 2019, No. 924,§ 3, eff. 7/24/2019. Amended by Act 2015, No. 1055,§ 5, eff. 7/22/2015. Amended by Act 2015, No. 1055,§ 4, eff. 7/22/2015. Amended by Act 2013, No. 1043,§ 5, eff. 1/1/2014. Acts 1997, No. 1154, § 2; 1999, No. 1042, § 7; 2007, No. 746, §§ 1, 2; 2009, No. 756, § 12; 2011, No. 1005, § 9.

(a) Every manufacturer, distributor, wholesaler, distributor branch or division, factory branch or division, or wholesale branch or division shall properly fulfill any warranty or recall campaign agreements and adequately and fairly compensate each of its motor vehicle dealers for labor and parts.

(b) The compensation shall not fail to include reasonable compensation for diagnostic work, repair service, labor, and parts.

(c) (1) Time allowances for the diagnosis and performance of warranty or recall campaign work and service shall be reasonable and adequate for the work to be performed. (2) In the determination of what constitutes reasonable compensation for warranty or recall campaign work and service under this subsection subject to § 23-112-310(d)(1)(A) , the principal factor to be considered is the labor rate per hour or parts rate that is charged by the motor vehicle dealer to the motor vehicle dealer's retail customers, exclusive of routine maintenance performed on a vehicle. (3) The compensation of a motor vehicle dealer for warranty or recall campaign service and parts shall not be less than the rates charged by the motor vehicle dealer for like service to retail customers for nonwarranty service and repairs and parts, provided the rate is reasonable. (4) The motor vehicle dealer shall calculate the labor rate by dividing the amount of the motor vehicle dealer's total labor sales from any qualified repair orders by the total labor hours that generated the labor charges in the qualified repair orders. (5) The motor vehicle dealer shall calculate the rate for parts by: (A) Determining the total charges for parts from the qualified repair orders submitted; and (B) Dividing the total charges under subdivision (c)(5)(A) of this section by the motor vehicle dealer's total cost of the purchase of those parts, subtracting one (1), and multiplying by one hundred (100) to produce a percentage. (6) (A) As used in this section, "qualified repair order" means a customer pay repair order paid by a retail customer, exclusive of routine maintenance performed on the vehicle. (B) Qualified repair orders used to calculate the labor rate and rate for parts under this section shall be qualified repair orders from the lesser of a: (i) Reasonable look-back period not to exceed one hundred (100) sequential customer pay repair orders with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order request; or (ii) Ninety-day look-back period with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order. (C) (i) No repair order shall be excluded from the markup computation solely because it contains repairs using nonoriginal equipment manufacturer parts. (ii) However, only the portion of the repair order that uses original equipment manufacturer parts shall be included in the computation of the motor vehicle dealer's rate for parts. (7) For the purposes of this section, a motor vehicle dealer shall submit a written request to be compensated under this section.

(1) Time allowances for the diagnosis and performance of warranty or recall campaign work and service shall be reasonable and adequate for the work to be performed.

(2) In the determination of what constitutes reasonable compensation for warranty or recall campaign work and service under this subsection subject to § 23-112-310(d)(1)(A) , the principal factor to be considered is the labor rate per hour or parts rate that is charged by the motor vehicle dealer to the motor vehicle dealer's retail customers, exclusive of routine maintenance performed on a vehicle.

(3) The compensation of a motor vehicle dealer for warranty or recall campaign service and parts shall not be less than the rates charged by the motor vehicle dealer for like service to retail customers for nonwarranty service and repairs and parts, provided the rate is reasonable.

(4) The motor vehicle dealer shall calculate the labor rate by dividing the amount of the motor vehicle dealer's total labor sales from any qualified repair orders by the total labor hours that generated the labor charges in the qualified repair orders.

(5) The motor vehicle dealer shall calculate the rate for parts by: (A) Determining the total charges for parts from the qualified repair orders submitted; and (B) Dividing the total charges under subdivision (c)(5)(A) of this section by the motor vehicle dealer's total cost of the purchase of those parts, subtracting one (1), and multiplying by one hundred (100) to produce a percentage.

(A) Determining the total charges for parts from the qualified repair orders submitted; and

(B) Dividing the total charges under subdivision (c)(5)(A) of this section by the motor vehicle dealer's total cost of the purchase of those parts, subtracting one (1), and multiplying by one hundred (100) to produce a percentage.

(6) (A) As used in this section, "qualified repair order" means a customer pay repair order paid by a retail customer, exclusive of routine maintenance performed on the vehicle. (B) Qualified repair orders used to calculate the labor rate and rate for parts under this section shall be qualified repair orders from the lesser of a: (i) Reasonable look-back period not to exceed one hundred (100) sequential customer pay repair orders with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order request; or (ii) Ninety-day look-back period with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order. (C) (i) No repair order shall be excluded from the markup computation solely because it contains repairs using nonoriginal equipment manufacturer parts. (ii) However, only the portion of the repair order that uses original equipment manufacturer parts shall be included in the computation of the motor vehicle dealer's rate for parts.

(A) As used in this section, "qualified repair order" means a customer pay repair order paid by a retail customer, exclusive of routine maintenance performed on the vehicle.

(B) Qualified repair orders used to calculate the labor rate and rate for parts under this section shall be qualified repair orders from the lesser of a: (i) Reasonable look-back period not to exceed one hundred (100) sequential customer pay repair orders with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order request; or (ii) Ninety-day look-back period with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order.

(i) Reasonable look-back period not to exceed one hundred (100) sequential customer pay repair orders with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order request; or

(ii) Ninety-day look-back period with repair dates covering repairs made no more than one hundred eighty (180) days before the submission of the qualified repair order.

(C) (i) No repair order shall be excluded from the markup computation solely because it contains repairs using nonoriginal equipment manufacturer parts. (ii) However, only the portion of the repair order that uses original equipment manufacturer parts shall be included in the computation of the motor vehicle dealer's rate for parts.

(i) No repair order shall be excluded from the markup computation solely because it contains repairs using nonoriginal equipment manufacturer parts.

(ii) However, only the portion of the repair order that uses original equipment manufacturer parts shall be included in the computation of the motor vehicle dealer's rate for parts.

(7) For the purposes of this section, a motor vehicle dealer shall submit a written request to be compensated under this section.

(d) (1) (A) The pricing for a recalled part shall not be reduced to an amount that is less than the original dealer cost or price for the same part unless the manufacturer obtains a discounted rate for the recalled part from a supplier. (B) A recalled part is considered the same part if it is substantially the same part regardless of the part number. (2) A part-by-part analysis is not required to determine the retail rate for parts. (3) The parts mark-up shall not be substituted for a handling allowance or similar pricing amount that results in the reduction of compensation for the dealer.

(1) (A) The pricing for a recalled part shall not be reduced to an amount that is less than the original dealer cost or price for the same part unless the manufacturer obtains a discounted rate for the recalled part from a supplier. (B) A recalled part is considered the same part if it is substantially the same part regardless of the part number.

(A) The pricing for a recalled part shall not be reduced to an amount that is less than the original dealer cost or price for the same part unless the manufacturer obtains a discounted rate for the recalled part from a supplier.

(B) A recalled part is considered the same part if it is substantially the same part regardless of the part number.

(2) A part-by-part analysis is not required to determine the retail rate for parts.

(3) The parts mark-up shall not be substituted for a handling allowance or similar pricing amount that results in the reduction of compensation for the dealer.

(e) (1) All claims under this section, either original or resubmitted, made by motor vehicle dealers for the labor and parts shall be either approved or disapproved within thirty (30) days following their approval or disapproval. (2) (A) (i) The motor vehicle dealer who submits a claim which is disapproved shall be notified in writing of the disapproval within the same period, and the notice shall state the specific grounds upon which the disapproval is based. (ii) The motor vehicle dealer may correct and resubmit the disapproved claims within thirty (30) days of receipt of disapproval. (B) Any claims not specifically disapproved in writing within thirty (30) days from their submission shall be deemed approved, and payment shall follow within thirty (30) days. (3) (A) A claim shall not be disapproved because a clerical error was made that does not render the amount of the claim incorrect, including without limitation clerical errors that occur as a result of a manufacturer or distributor's prior approval process. (B) However, a dealer may contest the disapproval through the manufacturer's appeals process. (4) (A) The manufacturer or franchiser may: (i) Require documentation for claims; (ii) Audit the claims within a one-year period from the date the claim was paid or credit issued by the manufacturer or franchiser; and (iii) Charge back any false or unsubstantiated claims. (B) The audit and charge-back provisions of this subsection also apply to all other incentive and reimbursement programs for a period of twelve (12) months after the date of the transactions that are subject to audit by the franchiser. (C) However, the manufacturer retains the right to charge back any fraudulent claim if the manufacturer establishes in a court of competent jurisdiction in this state that the claim is fraudulent within a period not to exceed two (2) years from the date of the claim in question. (D) (i) A dealer may file an appeal with the Arkansas Motor Vehicle Commission to protest any chargeback under this subdivision (e)(4) within ninety (90) days of notification by the manufacturer or distributor. (ii) If a dealer files an appeal of the chargeback with the commission, the manufacturer or distributor shall not levy the chargeback until the appeal is resolved. The commission shall hold a hearing on the matter no later than one hundred twenty (120) days from the time the appeal is filed unless all parties have otherwise agreed to settle the matter. (iii) An appeal by the licensee under this subdivision (e)(4)(D) shall be in accordance with § 23-112-501 et seq.

(1) All claims under this section, either original or resubmitted, made by motor vehicle dealers for the labor and parts shall be either approved or disapproved within thirty (30) days following their approval or disapproval.

(2) (A) (i) The motor vehicle dealer who submits a claim which is disapproved shall be notified in writing of the disapproval within the same period, and the notice shall state the specific grounds upon which the disapproval is based. (ii) The motor vehicle dealer may correct and resubmit the disapproved claims within thirty (30) days of receipt of disapproval. (B) Any claims not specifically disapproved in writing within thirty (30) days from their submission shall be deemed approved, and payment shall follow within thirty (30) days.

(A) (i) The motor vehicle dealer who submits a claim which is disapproved shall be notified in writing of the disapproval within the same period, and the notice shall state the specific grounds upon which the disapproval is based. (ii) The motor vehicle dealer may correct and resubmit the disapproved claims within thirty (30) days of receipt of disapproval.

(i) The motor vehicle dealer who submits a claim which is disapproved shall be notified in writing of the disapproval within the same period, and the notice shall state the specific grounds upon which the disapproval is based.

(ii) The motor vehicle dealer may correct and resubmit the disapproved claims within thirty (30) days of receipt of disapproval.

(B) Any claims not specifically disapproved in writing within thirty (30) days from their submission shall be deemed approved, and payment shall follow within thirty (30) days.

(3) (A) A claim shall not be disapproved because a clerical error was made that does not render the amount of the claim incorrect, including without limitation clerical errors that occur as a result of a manufacturer or distributor's prior approval process. (B) However, a dealer may contest the disapproval through the manufacturer's appeals process.

(A) A claim shall not be disapproved because a clerical error was made that does not render the amount of the claim incorrect, including without limitation clerical errors that occur as a result of a manufacturer or distributor's prior approval process.

(B) However, a dealer may contest the disapproval through the manufacturer's appeals process.

(4) (A) The manufacturer or franchiser may: (i) Require documentation for claims; (ii) Audit the claims within a one-year period from the date the claim was paid or credit issued by the manufacturer or franchiser; and (iii) Charge back any false or unsubstantiated claims. (B) The audit and charge-back provisions of this subsection also apply to all other incentive and reimbursement programs for a period of twelve (12) months after the date of the transactions that are subject to audit by the franchiser. (C) However, the manufacturer retains the right to charge back any fraudulent claim if the manufacturer establishes in a court of competent jurisdiction in this state that the claim is fraudulent within a period not to exceed two (2) years from the date of the claim in question. (D) (i) A dealer may file an appeal with the Arkansas Motor Vehicle Commission to protest any chargeback under this subdivision (e)(4) within ninety (90) days of notification by the manufacturer or distributor. (ii) If a dealer files an appeal of the chargeback with the commission, the manufacturer or distributor shall not levy the chargeback until the appeal is resolved. The commission shall hold a hearing on the matter no later than one hundred twenty (120) days from the time the appeal is filed unless all parties have otherwise agreed to settle the matter. (iii) An appeal by the licensee under this subdivision (e)(4)(D) shall be in accordance with § 23-112-501 et seq.

(A) The manufacturer or franchiser may: (i) Require documentation for claims; (ii) Audit the claims within a one-year period from the date the claim was paid or credit issued by the manufacturer or franchiser; and (iii) Charge back any false or unsubstantiated claims.

(i) Require documentation for claims;

(ii) Audit the claims within a one-year period from the date the claim was paid or credit issued by the manufacturer or franchiser; and

(iii) Charge back any false or unsubstantiated claims.

(B) The audit and charge-back provisions of this subsection also apply to all other incentive and reimbursement programs for a period of twelve (12) months after the date of the transactions that are subject to audit by the franchiser.

(C) However, the manufacturer retains the right to charge back any fraudulent claim if the manufacturer establishes in a court of competent jurisdiction in this state that the claim is fraudulent within a period not to exceed two (2) years from the date of the claim in question.

(D) (i) A dealer may file an appeal with the Arkansas Motor Vehicle Commission to protest any chargeback under this subdivision (e)(4) within ninety (90) days of notification by the manufacturer or distributor. (ii) If a dealer files an appeal of the chargeback with the commission, the manufacturer or distributor shall not levy the chargeback until the appeal is resolved. The commission shall hold a hearing on the matter no later than one hundred twenty (120) days from the time the appeal is filed unless all parties have otherwise agreed to settle the matter. (iii) An appeal by the licensee under this subdivision (e)(4)(D) shall be in accordance with § 23-112-501 et seq.

(i) A dealer may file an appeal with the Arkansas Motor Vehicle Commission to protest any chargeback under this subdivision (e)(4) within ninety (90) days of notification by the manufacturer or distributor.

(ii) If a dealer files an appeal of the chargeback with the commission, the manufacturer or distributor shall not levy the chargeback until the appeal is resolved. The commission shall hold a hearing on the matter no later than one hundred twenty (120) days from the time the appeal is filed unless all parties have otherwise agreed to settle the matter.

(iii) An appeal by the licensee under this subdivision (e)(4)(D) shall be in accordance with § 23-112-501 et seq.

(f) As used in this section, "routine maintenance" means motor vehicle upkeep not covered under the manufacturer's warranty, including without limitation tire rotations and the replacement of: (1) Tires; (2) Fluids; (3) Filters; (4) Batteries, other than electric vehicle or hybrid vehicle propulsion batteries; (5) Belts; (6) Windshield wipers; and (7) Brake pads.

(1) Tires;

(2) Fluids;

(3) Filters;

(4) Batteries, other than electric vehicle or hybrid vehicle propulsion batteries;

(5) Belts;

(6) Windshield wipers; and

(7) Brake pads.

(g) A manufacturer, distributor, wholesaler, distributor branch or division, factory branch or division, or wholesale branch or division shall compensate a motor vehicle dealer that provides assistance requested by a customer whose motor vehicle was subjected to an over-the-air or remote change, repair, or update to any part, system, accessory, or function by the motor vehicle manufacturer or distributor and performed at the motor vehicle dealer's location or other manufacturer-authorized repair location of the motor vehicle dealer.

Amended by Act 2023, No. 515,§ 2, eff. 8/1/2023.

Amended by Act 2023, No. 515,§ 1, eff. 8/1/2023.

Amended by Act 2021, No. 1077,§ 6, eff. 7/28/2021.

Amended by Act 2021, No. 1077,§ 5, eff. 7/28/2021.

Amended by Act 2019, No. 924,§ 3, eff. 7/24/2019.

Amended by Act 2015, No. 1055,§ 5, eff. 7/22/2015.

Amended by Act 2015, No. 1055,§ 4, eff. 7/22/2015.

Amended by Act 2013, No. 1043,§ 5, eff. 1/1/2014.

Acts 1997, No. 1154, § 2; 1999, No. 1042, § 7; 2007, No. 746, §§ 1, 2; 2009, No. 756, § 12; 2011, No. 1005, § 9.
Ark. Code Ann. § 23-97-321 — AR Code / Title 23 / Chapter 97 / Subchapter 3 / Section 23-97-321
Penalties
Status: in_force

In addition to any other penalties provided by the laws of this state, any insurer or agent found to have violated any requirement of this state relating to the regulation of long-term care insurance or the marketing of long-term care insurance is subject to the greater of: (1) A fine of up to three (3) times the amount of any commissions paid for each policy involved in the violation; or (2) A fine of up to ten thousand dollars ($10,000). Acts 2005, No. 1697, § 31.

In addition to any other penalties provided by the laws of this state, any insurer or agent found to have violated any requirement of this state relating to the regulation of long-term care insurance or the marketing of long-term care insurance is subject to the greater of:

(1) A fine of up to three (3) times the amount of any commissions paid for each policy involved in the violation; or

(2) A fine of up to ten thousand dollars ($10,000).

Acts 2005, No. 1697, § 31.
Ark. Code Ann. § 23-61-108 — AR Code / Title 23 / Chapter 61 / Subchapter 1 / Section 23-61-108
Rules
Status: in_force

(a) (1) The Insurance Commissioner, in consultation with the Secretary of the Department of Commerce, may make reasonable rules necessary for or as an aid to the effectuation of any provision of the Arkansas Insurance Code. (2) No rule shall extend, modify, or conflict with any law of this state or the reasonable implications thereof. (3) Any rule affecting persons or matters other than the personnel or the internal affairs of the commissioner's office shall be made or amended only after a hearing thereon of which notice was given as required by § 23-61-304 . (4) If reasonably possible, the commissioner shall set forth the proposed rule or amendment in or with the notice of hearing. (5) No rule as to which a hearing is required under this subsection shall be effective until after it has been on file as a public record in the commissioner's office, and otherwise as provided by law, for at least ten (10) days. (b) (1) The commissioner, in consultation with the Secretary of the Department of Commerce, shall have the authority to promulgate rules necessary for the effective regulation of the business of insurance or as required for this state to be in compliance with federal laws. (2) The commissioner shall have the authority to coordinate regulatory activities and administration with other states and their appropriate regulatory officials and with the United States Government with respect to the regulation of insurance. (c) In addition to any other penalty provided, willful violation of any rule shall subject the violator to such denial, suspension, or revocation of certificate of authority or license as may be applicable under the Arkansas Insurance Code for violation of the provision to which the rule relates. (d) (1) The commissioner is authorized to employ the standards and requirements set forth in publications recited in the Arkansas Insurance Code, as those publications existed on January 1, 2001, and adopted and published by the National Association of Insurance Commissioners or by other authors in the regulation of insurance, including, but not limited to, the Valuation of Securities Manual, the examiners handbook, the Accounting Practices and Procedures Manual, and the Annual Statement Instructions as published by the National Association of Insurance Commissioners. (2) The publications identified in subdivision (d)(1) of this section and others recited in and throughout § 23-60-101 et seq. are hereby adopted as they existed on January 1, 2001. (3) The commissioner is authorized and empowered to promulgate rules for the purposes of adopting all or part of other publications of the National Association of Insurance Commissioners or publications by other authors if the commissioner determines that such an action is in the best interest of the public. (4) Upon the mailing of written notice by the commissioner to all domestic reporting entities of promulgation and publication by the National Association of Insurance Commissioners or other authors of amendments, revisions, or modifications to any publication previously adopted by the commissioner in the Arkansas Insurance Code, such published amendments, revisions, or modifications shall become effective on the date designated by the commissioner in the written notice, which date shall not be earlier than eight (8) months after the date of mailing of the notice. (e) The commissioner is authorized and empowered to adopt rules for the purpose of modifying, amending, or revising any publication promulgated by the National Association of Insurance Commissioners or other authors, or any published amendments, modifications, or revisions to any such publications if the commissioner determines that such an action is in the best interest of the public. In such an event the effective date of any modification, amendment, or revision shall be the effective date of the rule. Amended by Act 2019, No. 315,§ 2612, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 597, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 596, eff. 7/1/2019. Acts 1959, No. 148, § 26; A.S.A. 1947, § 66-2111; Acts 2001, No. 1239, § 1; 2001, No. 1604, § 7.

(a) (1) The Insurance Commissioner, in consultation with the Secretary of the Department of Commerce, may make reasonable rules necessary for or as an aid to the effectuation of any provision of the Arkansas Insurance Code. (2) No rule shall extend, modify, or conflict with any law of this state or the reasonable implications thereof. (3) Any rule affecting persons or matters other than the personnel or the internal affairs of the commissioner's office shall be made or amended only after a hearing thereon of which notice was given as required by § 23-61-304 . (4) If reasonably possible, the commissioner shall set forth the proposed rule or amendment in or with the notice of hearing. (5) No rule as to which a hearing is required under this subsection shall be effective until after it has been on file as a public record in the commissioner's office, and otherwise as provided by law, for at least ten (10) days.

(1) The Insurance Commissioner, in consultation with the Secretary of the Department of Commerce, may make reasonable rules necessary for or as an aid to the effectuation of any provision of the Arkansas Insurance Code.

(2) No rule shall extend, modify, or conflict with any law of this state or the reasonable implications thereof.

(3) Any rule affecting persons or matters other than the personnel or the internal affairs of the commissioner's office shall be made or amended only after a hearing thereon of which notice was given as required by § 23-61-304 .

(4) If reasonably possible, the commissioner shall set forth the proposed rule or amendment in or with the notice of hearing.

(5) No rule as to which a hearing is required under this subsection shall be effective until after it has been on file as a public record in the commissioner's office, and otherwise as provided by law, for at least ten (10) days.

(b) (1) The commissioner, in consultation with the Secretary of the Department of Commerce, shall have the authority to promulgate rules necessary for the effective regulation of the business of insurance or as required for this state to be in compliance with federal laws. (2) The commissioner shall have the authority to coordinate regulatory activities and administration with other states and their appropriate regulatory officials and with the United States Government with respect to the regulation of insurance.

(1) The commissioner, in consultation with the Secretary of the Department of Commerce, shall have the authority to promulgate rules necessary for the effective regulation of the business of insurance or as required for this state to be in compliance with federal laws.

(2) The commissioner shall have the authority to coordinate regulatory activities and administration with other states and their appropriate regulatory officials and with the United States Government with respect to the regulation of insurance.

(c) In addition to any other penalty provided, willful violation of any rule shall subject the violator to such denial, suspension, or revocation of certificate of authority or license as may be applicable under the Arkansas Insurance Code for violation of the provision to which the rule relates.

(d) (1) The commissioner is authorized to employ the standards and requirements set forth in publications recited in the Arkansas Insurance Code, as those publications existed on January 1, 2001, and adopted and published by the National Association of Insurance Commissioners or by other authors in the regulation of insurance, including, but not limited to, the Valuation of Securities Manual, the examiners handbook, the Accounting Practices and Procedures Manual, and the Annual Statement Instructions as published by the National Association of Insurance Commissioners. (2) The publications identified in subdivision (d)(1) of this section and others recited in and throughout § 23-60-101 et seq. are hereby adopted as they existed on January 1, 2001. (3) The commissioner is authorized and empowered to promulgate rules for the purposes of adopting all or part of other publications of the National Association of Insurance Commissioners or publications by other authors if the commissioner determines that such an action is in the best interest of the public. (4) Upon the mailing of written notice by the commissioner to all domestic reporting entities of promulgation and publication by the National Association of Insurance Commissioners or other authors of amendments, revisions, or modifications to any publication previously adopted by the commissioner in the Arkansas Insurance Code, such published amendments, revisions, or modifications shall become effective on the date designated by the commissioner in the written notice, which date shall not be earlier than eight (8) months after the date of mailing of the notice.

(1) The commissioner is authorized to employ the standards and requirements set forth in publications recited in the Arkansas Insurance Code, as those publications existed on January 1, 2001, and adopted and published by the National Association of Insurance Commissioners or by other authors in the regulation of insurance, including, but not limited to, the Valuation of Securities Manual, the examiners handbook, the Accounting Practices and Procedures Manual, and the Annual Statement Instructions as published by the National Association of Insurance Commissioners.

(2) The publications identified in subdivision (d)(1) of this section and others recited in and throughout § 23-60-101 et seq. are hereby adopted as they existed on January 1, 2001.

(3) The commissioner is authorized and empowered to promulgate rules for the purposes of adopting all or part of other publications of the National Association of Insurance Commissioners or publications by other authors if the commissioner determines that such an action is in the best interest of the public.

(4) Upon the mailing of written notice by the commissioner to all domestic reporting entities of promulgation and publication by the National Association of Insurance Commissioners or other authors of amendments, revisions, or modifications to any publication previously adopted by the commissioner in the Arkansas Insurance Code, such published amendments, revisions, or modifications shall become effective on the date designated by the commissioner in the written notice, which date shall not be earlier than eight (8) months after the date of mailing of the notice.

(e) The commissioner is authorized and empowered to adopt rules for the purpose of modifying, amending, or revising any publication promulgated by the National Association of Insurance Commissioners or other authors, or any published amendments, modifications, or revisions to any such publications if the commissioner determines that such an action is in the best interest of the public. In such an event the effective date of any modification, amendment, or revision shall be the effective date of the rule.

Amended by Act 2019, No. 315,§ 2612, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 597, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 596, eff. 7/1/2019.

Acts 1959, No. 148, § 26; A.S.A. 1947, § 66-2111; Acts 2001, No. 1239, § 1; 2001, No. 1604, § 7.
Ark. Code Ann. § 23-3-119 — AR Code / Title 23 / Chapter 3 / Subchapter 1 / Section 23-3-119
Complaints
Status: in_force

(a) (1) Any chamber of commerce or board of trade, mercantile, agricultural, or manufacturing association, any public utility, any municipality, any customer of a public utility, any person unlawfully treated by a public utility, or any public utility unlawfully treated by a customer, may complain to the commission in writing. The complaint shall set forth any act or thing done or omitted to be done by any public utility or customer in violation, or claimed violation, of any order, law, or regulation which the commission has jurisdiction to administer. (2) Any consumer or prospective consumer of any utility service may complain to the commission with respect to the service, furnishing of service, or any discrimination with respect to any service or rates. (b) Every complainant shall, before filing a complaint, make a good faith effort to informally resolve with the respondent the situation complained of. The complainant shall allege and describe, in his or her complaint, his or her efforts to achieve an informal resolution, including all informal resolution procedures which may be prescribed by commission rule or by approved tariffs. (c) On the filing of the complaint, the commission shall cause a copy thereof to be served upon the respondent. (d) The commission shall then have the authority, upon timely notice, to conduct investigations and public hearings, to mandate monetary refunds and billing credits, or to order appropriate prospective relief as authorized or required by law, rule, regulation, or order. The jurisdiction of the commission in such disputes is primary and shall be exhausted before a court of law or equity may assume jurisdiction. However, the commission shall not have the authority to order payment of damages or to adjudicate disputes in which the right asserted is a private right found in the common law of contracts, torts, or property. (e) (1) A utility may collect an award under this section by charging the complainant on his or her regular utility bill. Failure to pay shall be grounds for termination of service. (2) The commission may order a utility to pay an award under this section in the form of one (1) or more billing credits. In the case of a former customer complainant, the commission may require a cash payment. (f) (1) It is the specific intent of the General Assembly in enacting the 1985 amendment to this section to vest in the Arkansas Public Service Commission the authority to adjudicate individual disputes between consumers and the public utilities which serve them when those disputes involve public rights which the commission is charged by law to administer. (2) Public rights which the commission may adjudicate are those arising from the public utility statutes enacted by the General Assembly and the lawful rules, regulations, and orders entered by the commission in the execution of the statutes. The commission's jurisdiction to adjudicate public rights does not and cannot, however, extend to disputes in which the right asserted is a private right found in the common law of contracts, torts, or property. (3) The commission's quasi-judicial jurisdiction to adjudicate public rights and claims in individual cases is in addition to the commission's traditional legislative authority to act generally and prospectively in the interest of the public. The quasi-judicial commission authority recognized in this section is a legitimate function and does not, in the judgment of the General Assembly, constitute an unlawful delegation of judicial authority under either the Arkansas Constitution or the United States Constitution. Acts 1935, No. 324, § 17; Pope's Dig., § 2080; Acts 1985, No. 758, §§ 1, 2; A.S.A. 1947, §§ 73-216, 73-216n.

(a) (1) Any chamber of commerce or board of trade, mercantile, agricultural, or manufacturing association, any public utility, any municipality, any customer of a public utility, any person unlawfully treated by a public utility, or any public utility unlawfully treated by a customer, may complain to the commission in writing. The complaint shall set forth any act or thing done or omitted to be done by any public utility or customer in violation, or claimed violation, of any order, law, or regulation which the commission has jurisdiction to administer. (2) Any consumer or prospective consumer of any utility service may complain to the commission with respect to the service, furnishing of service, or any discrimination with respect to any service or rates.

(1) Any chamber of commerce or board of trade, mercantile, agricultural, or manufacturing association, any public utility, any municipality, any customer of a public utility, any person unlawfully treated by a public utility, or any public utility unlawfully treated by a customer, may complain to the commission in writing. The complaint shall set forth any act or thing done or omitted to be done by any public utility or customer in violation, or claimed violation, of any order, law, or regulation which the commission has jurisdiction to administer.

(2) Any consumer or prospective consumer of any utility service may complain to the commission with respect to the service, furnishing of service, or any discrimination with respect to any service or rates.

(b) Every complainant shall, before filing a complaint, make a good faith effort to informally resolve with the respondent the situation complained of. The complainant shall allege and describe, in his or her complaint, his or her efforts to achieve an informal resolution, including all informal resolution procedures which may be prescribed by commission rule or by approved tariffs.

(c) On the filing of the complaint, the commission shall cause a copy thereof to be served upon the respondent.

(d) The commission shall then have the authority, upon timely notice, to conduct investigations and public hearings, to mandate monetary refunds and billing credits, or to order appropriate prospective relief as authorized or required by law, rule, regulation, or order. The jurisdiction of the commission in such disputes is primary and shall be exhausted before a court of law or equity may assume jurisdiction. However, the commission shall not have the authority to order payment of damages or to adjudicate disputes in which the right asserted is a private right found in the common law of contracts, torts, or property.

(e) (1) A utility may collect an award under this section by charging the complainant on his or her regular utility bill. Failure to pay shall be grounds for termination of service. (2) The commission may order a utility to pay an award under this section in the form of one (1) or more billing credits. In the case of a former customer complainant, the commission may require a cash payment.

(1) A utility may collect an award under this section by charging the complainant on his or her regular utility bill. Failure to pay shall be grounds for termination of service.

(2) The commission may order a utility to pay an award under this section in the form of one (1) or more billing credits. In the case of a former customer complainant, the commission may require a cash payment.

(f) (1) It is the specific intent of the General Assembly in enacting the 1985 amendment to this section to vest in the Arkansas Public Service Commission the authority to adjudicate individual disputes between consumers and the public utilities which serve them when those disputes involve public rights which the commission is charged by law to administer. (2) Public rights which the commission may adjudicate are those arising from the public utility statutes enacted by the General Assembly and the lawful rules, regulations, and orders entered by the commission in the execution of the statutes. The commission's jurisdiction to adjudicate public rights does not and cannot, however, extend to disputes in which the right asserted is a private right found in the common law of contracts, torts, or property. (3) The commission's quasi-judicial jurisdiction to adjudicate public rights and claims in individual cases is in addition to the commission's traditional legislative authority to act generally and prospectively in the interest of the public. The quasi-judicial commission authority recognized in this section is a legitimate function and does not, in the judgment of the General Assembly, constitute an unlawful delegation of judicial authority under either the Arkansas Constitution or the United States Constitution.

(1) It is the specific intent of the General Assembly in enacting the 1985 amendment to this section to vest in the Arkansas Public Service Commission the authority to adjudicate individual disputes between consumers and the public utilities which serve them when those disputes involve public rights which the commission is charged by law to administer.

(2) Public rights which the commission may adjudicate are those arising from the public utility statutes enacted by the General Assembly and the lawful rules, regulations, and orders entered by the commission in the execution of the statutes. The commission's jurisdiction to adjudicate public rights does not and cannot, however, extend to disputes in which the right asserted is a private right found in the common law of contracts, torts, or property.

(3) The commission's quasi-judicial jurisdiction to adjudicate public rights and claims in individual cases is in addition to the commission's traditional legislative authority to act generally and prospectively in the interest of the public. The quasi-judicial commission authority recognized in this section is a legitimate function and does not, in the judgment of the General Assembly, constitute an unlawful delegation of judicial authority under either the Arkansas Constitution or the United States Constitution.

Acts 1935, No. 324, § 17; Pope's Dig., § 2080; Acts 1985, No. 758, §§ 1, 2; A.S.A. 1947, §§ 73-216, 73-216n.
Ark. Code Ann. § 23-82-105 — AR Code / Title 23 / Chapter 82 / Section 23-82-105
Grace period provision
Status: in_force

(a) There shall be a provision that the insured is entitled to a grace period of four (4) weeks within which the payment of any premiums after the first may be made, except that in policies for which the premiums are payable monthly, the period of grace shall be one (1) month, but not less than thirty (30) days. (b) If during the grace period the policy becomes a claim, then any overdue and unpaid premiums may be deducted from any settlement under the policy. Acts 1959, No. 148, § 349; A.S.A. 1947, § 66-3404.

(a) There shall be a provision that the insured is entitled to a grace period of four (4) weeks within which the payment of any premiums after the first may be made, except that in policies for which the premiums are payable monthly, the period of grace shall be one (1) month, but not less than thirty (30) days.

(b) If during the grace period the policy becomes a claim, then any overdue and unpaid premiums may be deducted from any settlement under the policy.

Acts 1959, No. 148, § 349; A.S.A. 1947, § 66-3404.
Ark. Code Ann. § 23-64-301 — AR Code / Title 23 / Chapter 64 / Subchapter 3 / Section 23-64-301
Continuing education required
Status: in_force

(a) (1) Unless exempt under § 23-64-302 , an insurance producer licensed in this state shall successfully complete and report the courses of instruction required by this section within the biennial period prescribed by rule of the Insurance Commissioner for the insurance producer to satisfy the continuing education requirements necessary to continue the insurance producer's license. (2) The exemptions in § 23-64-302(3) and (4) do not apply to an insurance producer licensed after July 1, 2003. (3) A resident insurance producer who qualified for an exemption under § 23-64-302(3) or (4) and then moved to another state may maintain the exemption when the insurance producer returns to this state if upon application to the commissioner for a reinstatement of the exemption the insurance producer has been continuously licensed in this state as a resident or nonresident insurance producer from the time he or she first qualified for the exemption. (b) An individual who holds a title insurance license shall complete the minimum number of hours of continuing education courses established by rule of the commissioner. (c) The commissioner may promulgate rules containing the continuing education requirements for insurance producers licensed in this state as necessary for continued uniformity among the states. (d) The commissioner may hire an independent contractor to administer all or part of this subchapter in a fair and impartial manner. Amended by Act 2013, No. 534,§ 1, eff. 8/16/2013. Acts 1989, No. 445, § 1; 1997, No. 1004, § 1; 2001, No. 1603, § 20; 2003, No. 1784, § 1; 2007, No. 684, § 4; 2009, No. 726, § 31; 2011, No. 760, § 7.

(a) (1) Unless exempt under § 23-64-302 , an insurance producer licensed in this state shall successfully complete and report the courses of instruction required by this section within the biennial period prescribed by rule of the Insurance Commissioner for the insurance producer to satisfy the continuing education requirements necessary to continue the insurance producer's license. (2) The exemptions in § 23-64-302(3) and (4) do not apply to an insurance producer licensed after July 1, 2003. (3) A resident insurance producer who qualified for an exemption under § 23-64-302(3) or (4) and then moved to another state may maintain the exemption when the insurance producer returns to this state if upon application to the commissioner for a reinstatement of the exemption the insurance producer has been continuously licensed in this state as a resident or nonresident insurance producer from the time he or she first qualified for the exemption.

(1) Unless exempt under § 23-64-302 , an insurance producer licensed in this state shall successfully complete and report the courses of instruction required by this section within the biennial period prescribed by rule of the Insurance Commissioner for the insurance producer to satisfy the continuing education requirements necessary to continue the insurance producer's license.

(2) The exemptions in § 23-64-302(3) and (4) do not apply to an insurance producer licensed after July 1, 2003.

(3) A resident insurance producer who qualified for an exemption under § 23-64-302(3) or (4) and then moved to another state may maintain the exemption when the insurance producer returns to this state if upon application to the commissioner for a reinstatement of the exemption the insurance producer has been continuously licensed in this state as a resident or nonresident insurance producer from the time he or she first qualified for the exemption.

(b) An individual who holds a title insurance license shall complete the minimum number of hours of continuing education courses established by rule of the commissioner.

(c) The commissioner may promulgate rules containing the continuing education requirements for insurance producers licensed in this state as necessary for continued uniformity among the states.

(d) The commissioner may hire an independent contractor to administer all or part of this subchapter in a fair and impartial manner.

Amended by Act 2013, No. 534,§ 1, eff. 8/16/2013.

Acts 1989, No. 445, § 1; 1997, No. 1004, § 1; 2001, No. 1603, § 20; 2003, No. 1784, § 1; 2007, No. 684, § 4; 2009, No. 726, § 31; 2011, No. 760, § 7.
Ark. Code Ann. § 23-4-410 — AR Code / Title 23 / Chapter 4 / Subchapter 4 / Section 23-4-410
Authority of commission to fix rates - Apportionment of increase
Status: in_force

(a) If after the investigation and hearing thereon the Arkansas Public Service Commission finds the new rate to be unjust, unreasonable, discriminatory, or otherwise in violation of the law or rules of the commission, it shall determine and fix the just and reasonable rate to be charged or applied by the utility for the service in question, from and after the time the new rate took effect. (b) Until rate schedules in compliance with the commission's order can be filed and approved, any rate increase allowed in the commission's order shall be apportioned among all classes of customers and shall become effective on all bills rendered thereafter through a temporary surcharge or other equitable means, as shall be prescribed in the order. (c) The public utility or any party to a proceeding before the commission to consider an application for a general change in rates and charges may, according to the commission's rules and procedures, present evidence regarding a requested return on common equity in a filing, including without limitation: (1) The basis for the requested return on common equity, including quantitative analysis based on widely accepted methodologies, current market data, qualitative discussion, and analysis of factors that influence the requested return on common equity; (2) Evidence that the requested return on common equity is comparable to values that have recently been approved for public utilities that are delivering similar services with corresponding risks within this state and in other similar regulatory jurisdictions in the same general part of the country; (3) Evidence of the financial, business, and other risks faced by the utility, including regulatory oversight, numbers and types of customers, rate mechanisms, cost allocation methods, rate levels, rate design, reliability, and quality of service, as compared to those faced by utilities delivering similar services within this state and in other similar regulatory jurisdictions in the same general part of the country; and (4) Any other information, including without limitation: (A) Macroeconomic data; (B) Relevant commentary from ratings agencies and investment analysts; (C) Independent analysis of utility industry trends; (D) Customer impact; and (E) Any other relevant information. (d) If any evidence is presented as described in subsection (c) of this section, the commission shall discuss that evidence and demonstrate in its order that it considered the evidence in making its findings. The commission shall make its findings based on substantial evidence. (e) The allowance for funds used during construction that will be accrued and capitalized and included as a component of the costs recoverable through rates approved by the commission shall be determined according to the requirements of the uniform system of accounts adopted by the commission in its rules. The rate of return on common equity to be used shall be the rate of return on common equity most recently approved by the commission for the utility. (f) An electric cooperative corporation established under the Electric Cooperative Corporation Act, § 23-18-301 et seq., is not subject to subsections (c) and (d) of this section. Amended by Act 2015, No. 725,§ 1, eff. 3/27/2015. Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 2; 1983, No. 911, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.

(a) If after the investigation and hearing thereon the Arkansas Public Service Commission finds the new rate to be unjust, unreasonable, discriminatory, or otherwise in violation of the law or rules of the commission, it shall determine and fix the just and reasonable rate to be charged or applied by the utility for the service in question, from and after the time the new rate took effect.

(b) Until rate schedules in compliance with the commission's order can be filed and approved, any rate increase allowed in the commission's order shall be apportioned among all classes of customers and shall become effective on all bills rendered thereafter through a temporary surcharge or other equitable means, as shall be prescribed in the order.

(c) The public utility or any party to a proceeding before the commission to consider an application for a general change in rates and charges may, according to the commission's rules and procedures, present evidence regarding a requested return on common equity in a filing, including without limitation: (1) The basis for the requested return on common equity, including quantitative analysis based on widely accepted methodologies, current market data, qualitative discussion, and analysis of factors that influence the requested return on common equity; (2) Evidence that the requested return on common equity is comparable to values that have recently been approved for public utilities that are delivering similar services with corresponding risks within this state and in other similar regulatory jurisdictions in the same general part of the country; (3) Evidence of the financial, business, and other risks faced by the utility, including regulatory oversight, numbers and types of customers, rate mechanisms, cost allocation methods, rate levels, rate design, reliability, and quality of service, as compared to those faced by utilities delivering similar services within this state and in other similar regulatory jurisdictions in the same general part of the country; and (4) Any other information, including without limitation: (A) Macroeconomic data; (B) Relevant commentary from ratings agencies and investment analysts; (C) Independent analysis of utility industry trends; (D) Customer impact; and (E) Any other relevant information.

(1) The basis for the requested return on common equity, including quantitative analysis based on widely accepted methodologies, current market data, qualitative discussion, and analysis of factors that influence the requested return on common equity;

(2) Evidence that the requested return on common equity is comparable to values that have recently been approved for public utilities that are delivering similar services with corresponding risks within this state and in other similar regulatory jurisdictions in the same general part of the country;

(3) Evidence of the financial, business, and other risks faced by the utility, including regulatory oversight, numbers and types of customers, rate mechanisms, cost allocation methods, rate levels, rate design, reliability, and quality of service, as compared to those faced by utilities delivering similar services within this state and in other similar regulatory jurisdictions in the same general part of the country; and

(4) Any other information, including without limitation: (A) Macroeconomic data; (B) Relevant commentary from ratings agencies and investment analysts; (C) Independent analysis of utility industry trends; (D) Customer impact; and (E) Any other relevant information.

(A) Macroeconomic data;

(B) Relevant commentary from ratings agencies and investment analysts;

(C) Independent analysis of utility industry trends;

(D) Customer impact; and

(E) Any other relevant information.

(d) If any evidence is presented as described in subsection (c) of this section, the commission shall discuss that evidence and demonstrate in its order that it considered the evidence in making its findings. The commission shall make its findings based on substantial evidence.

(e) The allowance for funds used during construction that will be accrued and capitalized and included as a component of the costs recoverable through rates approved by the commission shall be determined according to the requirements of the uniform system of accounts adopted by the commission in its rules. The rate of return on common equity to be used shall be the rate of return on common equity most recently approved by the commission for the utility.

(f) An electric cooperative corporation established under the Electric Cooperative Corporation Act, § 23-18-301 et seq., is not subject to subsections (c) and (d) of this section.

Amended by Act 2015, No. 725,§ 1, eff. 3/27/2015.

Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 2; 1983, No. 911, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.
Ark. Code Ann. § 23-93-108 — AR Code / Title 23 / Chapter 93 / Subchapter 1 / Section 23-93-108
Continuing care contracts - Minimum requirements
Status: in_force

(a) A continuing care contract shall be written in clear and understandable language. (b) A continuing care contract shall, at a minimum: (1) Describe the facility's admission policies, including age, health status, and minimum financial requirements, if any; (2) Describe the health and financial conditions required for a person to continue to be a resident; (3) Describe the circumstances under which the resident will be permitted to remain in the facility in the event of possible financial difficulties of the resident; (4) (A) List the total consideration paid, including donations, entrance fee, subscription fees, periodic fees, and other fees paid or payable. (B) However, a provider cannot require a resident to transfer all his or her assets to the provider or community as a condition for providing continuing care, and the provider shall reserve his or her rights to charge periodic fees; (5) Describe in detail all items of service to be received by the resident such as food, shelter, medical care, nursing care, personal care services, and other health services and the time period during which such services will be provided; (6) Provide, as an addendum to the contract, a description of items of service, if any, which are available to the resident but which are not covered in the entrance or monthly fee; (7) Specify taxes and utilities, if any, that the resident must pay; (8) Specify that deposits or entrance fees paid by or for a resident shall be held in trust in a cash escrow pursuant to this subchapter; (9) State the terms under which a continuing care contract may be cancelled by the resident or the provider and the basis for establishing the amount of refund of the entrance fee, if any; (10) State the terms under which a continuing care contract is cancelled by the death of the resident and the basis for establishing the amount of refund, if any, of the entrance fee; (11) State when fees will be subject to periodic increases and what the policy for increases will be; (12) State the entrance fee and periodic fees that will be charged if the resident marries while living in the facility, the terms concerning the entry of a spouse to the facility, and the consequences if the spouse does not meet the requirements for entry; (13) State the rules of the provider then in effect and state the circumstances under which the provider claims to be entitled to have access to the resident's unit; (14) List the resident's and provider's respective rights and obligations as to any real or personal property of the resident transferred to or placed in the custody of the provider; (15) Describe the living quarters purchased by or assigned to the resident; (16) Provide under what conditions, if any, the resident may assign the use of a unit to another; (17) Include the policy and procedure with regard to changes in accommodations due to an increase or decrease in the number of persons occupying an individual unit; (18) State the conditions upon which the facility may sublet or relet a resident's unit; (19) State what fee adjustments, if any, will be made in the event of voluntary absence from the facility for an extended period of time by the resident; (20) Include the procedures to be followed when the provider temporarily or permanently changes the resident's accommodations, either within the facility or by transfer to a health facility; (21) If the facility includes a nursing facility, describe the admissions policies and what will occur if a nursing facility bed is not available at the time it is needed; (22) If the resident is offered a priority for nursing facility admission at a facility that is not owned by the continuing care facility, describe with which nursing facility the formal arrangement is made and what will occur if a nursing facility bed is not available at the time it is needed; (23) Include the policy and procedures for determining under what circumstances a resident will be considered incapable of independent living and will require a permanent move to a nursing facility; (24) Specify the types of insurance, if any, the resident must maintain, including Medicare, other health insurance, and property insurance; (25) Specify the circumstances, if any, under which the resident will be required to apply for Medicaid, public assistance, or any other public benefit programs; (26) State that the provider has filed a disclosure statement with the State Insurance Department and state the contents of the disclosure statement required by § 23-93-106(a)(3) ; and (27) State, in bold and conspicuous type, the following: "THIS CONTRACT IS GOVERNED BY THE CONTINUING CARE PROVIDER REGULATION ACT. THE PROVIDER HAS FILED A DISCLOSURE DOCUMENT WITH THE INSURANCE COMMISSIONER OF THE STATE OF ARKANSAS PRIOR TO OFFERING THIS CONTRACT. THE INSURANCE COMMISSIONER HAS NOT PASSED UPON THE VALIDITY OF THE INFORMATION FILED BY THE PROVIDER, DOES NOT MAKE ANY RECOMMENDATION WITH RESPECT TO THE FAIRNESS OF THE CHARGES MADE BY THE PROVIDER, HAS NOT CONDUCTED AN INDEPENDENT REVIEW OF THE FINANCIAL STRENGTH OF THE PROVIDER AND DOES NOT WARRANT THE ENFORCEABILITY OF ANY CONTRACT OFFERED BY THE PROVIDER. NO PROSPECTIVE RESIDENT SHOULD RELY UPON THE FACT THAT A FILING HAS BEEN MADE WITH THE COMMISSIONER IN MAKING THEIR DECISION. EACH PROSPECTIVE RESIDENT SHOULD CONSULT HIS OWN LEGAL AND FINANCIAL ADVISERS PRIOR TO ENTERING INTO ANY CONTRACT WITH THE PROVIDER. " Amended by Act 2019, No. 315,§ 2782, eff. 7/24/2019. Acts 1987, No. 329, § 5.

(a) A continuing care contract shall be written in clear and understandable language.

(b) A continuing care contract shall, at a minimum: (1) Describe the facility's admission policies, including age, health status, and minimum financial requirements, if any; (2) Describe the health and financial conditions required for a person to continue to be a resident; (3) Describe the circumstances under which the resident will be permitted to remain in the facility in the event of possible financial difficulties of the resident; (4) (A) List the total consideration paid, including donations, entrance fee, subscription fees, periodic fees, and other fees paid or payable. (B) However, a provider cannot require a resident to transfer all his or her assets to the provider or community as a condition for providing continuing care, and the provider shall reserve his or her rights to charge periodic fees; (5) Describe in detail all items of service to be received by the resident such as food, shelter, medical care, nursing care, personal care services, and other health services and the time period during which such services will be provided; (6) Provide, as an addendum to the contract, a description of items of service, if any, which are available to the resident but which are not covered in the entrance or monthly fee; (7) Specify taxes and utilities, if any, that the resident must pay; (8) Specify that deposits or entrance fees paid by or for a resident shall be held in trust in a cash escrow pursuant to this subchapter; (9) State the terms under which a continuing care contract may be cancelled by the resident or the provider and the basis for establishing the amount of refund of the entrance fee, if any; (10) State the terms under which a continuing care contract is cancelled by the death of the resident and the basis for establishing the amount of refund, if any, of the entrance fee; (11) State when fees will be subject to periodic increases and what the policy for increases will be; (12) State the entrance fee and periodic fees that will be charged if the resident marries while living in the facility, the terms concerning the entry of a spouse to the facility, and the consequences if the spouse does not meet the requirements for entry; (13) State the rules of the provider then in effect and state the circumstances under which the provider claims to be entitled to have access to the resident's unit; (14) List the resident's and provider's respective rights and obligations as to any real or personal property of the resident transferred to or placed in the custody of the provider; (15) Describe the living quarters purchased by or assigned to the resident; (16) Provide under what conditions, if any, the resident may assign the use of a unit to another; (17) Include the policy and procedure with regard to changes in accommodations due to an increase or decrease in the number of persons occupying an individual unit; (18) State the conditions upon which the facility may sublet or relet a resident's unit; (19) State what fee adjustments, if any, will be made in the event of voluntary absence from the facility for an extended period of time by the resident; (20) Include the procedures to be followed when the provider temporarily or permanently changes the resident's accommodations, either within the facility or by transfer to a health facility; (21) If the facility includes a nursing facility, describe the admissions policies and what will occur if a nursing facility bed is not available at the time it is needed; (22) If the resident is offered a priority for nursing facility admission at a facility that is not owned by the continuing care facility, describe with which nursing facility the formal arrangement is made and what will occur if a nursing facility bed is not available at the time it is needed; (23) Include the policy and procedures for determining under what circumstances a resident will be considered incapable of independent living and will require a permanent move to a nursing facility; (24) Specify the types of insurance, if any, the resident must maintain, including Medicare, other health insurance, and property insurance; (25) Specify the circumstances, if any, under which the resident will be required to apply for Medicaid, public assistance, or any other public benefit programs; (26) State that the provider has filed a disclosure statement with the State Insurance Department and state the contents of the disclosure statement required by § 23-93-106(a)(3) ; and (27) State, in bold and conspicuous type, the following: "THIS CONTRACT IS GOVERNED BY THE CONTINUING CARE PROVIDER REGULATION ACT. THE PROVIDER HAS FILED A DISCLOSURE DOCUMENT WITH THE INSURANCE COMMISSIONER OF THE STATE OF ARKANSAS PRIOR TO OFFERING THIS CONTRACT. THE INSURANCE COMMISSIONER HAS NOT PASSED UPON THE VALIDITY OF THE INFORMATION FILED BY THE PROVIDER, DOES NOT MAKE ANY RECOMMENDATION WITH RESPECT TO THE FAIRNESS OF THE CHARGES MADE BY THE PROVIDER, HAS NOT CONDUCTED AN INDEPENDENT REVIEW OF THE FINANCIAL STRENGTH OF THE PROVIDER AND DOES NOT WARRANT THE ENFORCEABILITY OF ANY CONTRACT OFFERED BY THE PROVIDER. NO PROSPECTIVE RESIDENT SHOULD RELY UPON THE FACT THAT A FILING HAS BEEN MADE WITH THE COMMISSIONER IN MAKING THEIR DECISION. EACH PROSPECTIVE RESIDENT SHOULD CONSULT HIS OWN LEGAL AND FINANCIAL ADVISERS PRIOR TO ENTERING INTO ANY CONTRACT WITH THE PROVIDER. "

(1) Describe the facility's admission policies, including age, health status, and minimum financial requirements, if any;

(2) Describe the health and financial conditions required for a person to continue to be a resident;

(3) Describe the circumstances under which the resident will be permitted to remain in the facility in the event of possible financial difficulties of the resident;

(4) (A) List the total consideration paid, including donations, entrance fee, subscription fees, periodic fees, and other fees paid or payable. (B) However, a provider cannot require a resident to transfer all his or her assets to the provider or community as a condition for providing continuing care, and the provider shall reserve his or her rights to charge periodic fees;

(A) List the total consideration paid, including donations, entrance fee, subscription fees, periodic fees, and other fees paid or payable.

(B) However, a provider cannot require a resident to transfer all his or her assets to the provider or community as a condition for providing continuing care, and the provider shall reserve his or her rights to charge periodic fees;

(5) Describe in detail all items of service to be received by the resident such as food, shelter, medical care, nursing care, personal care services, and other health services and the time period during which such services will be provided;

(6) Provide, as an addendum to the contract, a description of items of service, if any, which are available to the resident but which are not covered in the entrance or monthly fee;

(7) Specify taxes and utilities, if any, that the resident must pay;

(8) Specify that deposits or entrance fees paid by or for a resident shall be held in trust in a cash escrow pursuant to this subchapter;

(9) State the terms under which a continuing care contract may be cancelled by the resident or the provider and the basis for establishing the amount of refund of the entrance fee, if any;

(10) State the terms under which a continuing care contract is cancelled by the death of the resident and the basis for establishing the amount of refund, if any, of the entrance fee;

(11) State when fees will be subject to periodic increases and what the policy for increases will be;

(12) State the entrance fee and periodic fees that will be charged if the resident marries while living in the facility, the terms concerning the entry of a spouse to the facility, and the consequences if the spouse does not meet the requirements for entry;

(13) State the rules of the provider then in effect and state the circumstances under which the provider claims to be entitled to have access to the resident's unit;

(14) List the resident's and provider's respective rights and obligations as to any real or personal property of the resident transferred to or placed in the custody of the provider;

(15) Describe the living quarters purchased by or assigned to the resident;

(16) Provide under what conditions, if any, the resident may assign the use of a unit to another;

(17) Include the policy and procedure with regard to changes in accommodations due to an increase or decrease in the number of persons occupying an individual unit;

(18) State the conditions upon which the facility may sublet or relet a resident's unit;

(19) State what fee adjustments, if any, will be made in the event of voluntary absence from the facility for an extended period of time by the resident;

(20) Include the procedures to be followed when the provider temporarily or permanently changes the resident's accommodations, either within the facility or by transfer to a health facility;

(21) If the facility includes a nursing facility, describe the admissions policies and what will occur if a nursing facility bed is not available at the time it is needed;

(22) If the resident is offered a priority for nursing facility admission at a facility that is not owned by the continuing care facility, describe with which nursing facility the formal arrangement is made and what will occur if a nursing facility bed is not available at the time it is needed;

(23) Include the policy and procedures for determining under what circumstances a resident will be considered incapable of independent living and will require a permanent move to a nursing facility;

(24) Specify the types of insurance, if any, the resident must maintain, including Medicare, other health insurance, and property insurance;

(25) Specify the circumstances, if any, under which the resident will be required to apply for Medicaid, public assistance, or any other public benefit programs;

(26) State that the provider has filed a disclosure statement with the State Insurance Department and state the contents of the disclosure statement required by § 23-93-106(a)(3) ; and

(27) State, in bold and conspicuous type, the following: "THIS CONTRACT IS GOVERNED BY THE CONTINUING CARE PROVIDER REGULATION ACT. THE PROVIDER HAS FILED A DISCLOSURE DOCUMENT WITH THE INSURANCE COMMISSIONER OF THE STATE OF ARKANSAS PRIOR TO OFFERING THIS CONTRACT. THE INSURANCE COMMISSIONER HAS NOT PASSED UPON THE VALIDITY OF THE INFORMATION FILED BY THE PROVIDER, DOES NOT MAKE ANY RECOMMENDATION WITH RESPECT TO THE FAIRNESS OF THE CHARGES MADE BY THE PROVIDER, HAS NOT CONDUCTED AN INDEPENDENT REVIEW OF THE FINANCIAL STRENGTH OF THE PROVIDER AND DOES NOT WARRANT THE ENFORCEABILITY OF ANY CONTRACT OFFERED BY THE PROVIDER. NO PROSPECTIVE RESIDENT SHOULD RELY UPON THE FACT THAT A FILING HAS BEEN MADE WITH THE COMMISSIONER IN MAKING THEIR DECISION. EACH PROSPECTIVE RESIDENT SHOULD CONSULT HIS OWN LEGAL AND FINANCIAL ADVISERS PRIOR TO ENTERING INTO ANY CONTRACT WITH THE PROVIDER. "

"THIS CONTRACT IS GOVERNED BY THE CONTINUING CARE PROVIDER REGULATION ACT. THE PROVIDER HAS FILED A DISCLOSURE DOCUMENT WITH THE INSURANCE COMMISSIONER OF THE STATE OF ARKANSAS PRIOR TO OFFERING THIS CONTRACT. THE INSURANCE COMMISSIONER HAS NOT PASSED UPON THE VALIDITY OF THE INFORMATION FILED BY THE PROVIDER, DOES NOT MAKE ANY RECOMMENDATION WITH RESPECT TO THE FAIRNESS OF THE CHARGES MADE BY THE PROVIDER, HAS NOT CONDUCTED AN INDEPENDENT REVIEW OF THE FINANCIAL STRENGTH OF THE PROVIDER AND DOES NOT WARRANT THE ENFORCEABILITY OF ANY CONTRACT OFFERED BY THE PROVIDER. NO PROSPECTIVE RESIDENT SHOULD RELY UPON THE FACT THAT A FILING HAS BEEN MADE WITH THE COMMISSIONER IN MAKING THEIR DECISION. EACH PROSPECTIVE RESIDENT SHOULD CONSULT HIS OWN LEGAL AND FINANCIAL ADVISERS PRIOR TO ENTERING INTO ANY CONTRACT WITH THE PROVIDER. "

Amended by Act 2019, No. 315,§ 2782, eff. 7/24/2019.

Acts 1987, No. 329, § 5.
Ark. Code Ann. § 23-53-103 — AR Code / Title 23 / Chapter 53 / Section 23-53-103
Definitions
Status: in_force

As used in this chapter: (1) "Affiliate" means any company that controls, is controlled by, or is under common control with another company, as set forth in the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., as it existed on March 1, 2003, as of July 16, 2003; (2) "Annual percentage rate" means the annual percentage rate for the loan calculated according to the provisions of the Truth in Lending Act, 15 U.S.C. § 1601 et seq., as it existed on March 1, 2003, and the regulations promulgated thereunder by the Board of Governors of the Federal Reserve System; (3) "Bona fide loan discount points" means loan discount points knowingly paid by the borrower for the purpose of reducing, and that, in fact, result in a bona fide reduction of the interest rate or time price differential applicable to the loan, provided that the amount of the interest rate reduction purchased by the discount points is reasonably consistent with established industry norms and practices for secondary mortgage market transactions; (4) "Creditor" means any person or entity who participates in the original making or approving of a high-cost home loan; (5) (A) "High-cost home loan" means a loan, including an open-end credit plan, other than a bridge or construction loan, or a loan made for the purchase of a one-family to four-family residential structure that is secured by a first lien on the structure, in which: (i) The total loan amount does not exceed one hundred fifty thousand dollars ($150,000); (ii) The borrower is a natural person; (iii) The debt is incurred by the borrower primarily for personal, family, or household purposes; (iv) The loan is secured by a mortgage or deed of trust on real estate upon which there is located a structure or structures designed principally for the occupancy of from one (1) to four (4) families which is or will be occupied by the borrower as the borrower's principal dwelling; and (v) The terms of the loan meet or exceed one (1) or more of the thresholds as defined in subdivision (8) of this section. (B) "High-cost home loan" does not include any loan which within sixty (60) days after closing will be insured by, securitized for, or sold to a government agency or government-sponsored enterprise, including the United States Department of Housing and Urban Development, the United States Department of Veterans Affairs, Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, Arkansas Development Finance Authority, and the United States Department of Agriculture, or that the lender can demonstrate was in good faith intended to be so insured by, securitized for, or sold to the government agency or government-sponsored enterprise; (6) (A) "Points and fees" means: (i) All items required to be disclosed under 12 C.F.R. § 226.4(a) and (b) , as they existed on March 1, 2003, except interest or the time-price differential unless those items are exempt from disclosure under 12 C.F.R. § 226.4(c), (d), (e), or (f) , as they existed on March 1, 2003, except for the items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, the inclusion or exclusion of which is governed by subdivision (6)(A)(ii) of this section; (ii) All charges for items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, but only if the lender receives direct or indirect compensation in connection with the charge or the charge is paid to an affiliate of the lender, but only by the amount the charge exceeds the charge for comparable items provided by a nonaffiliate of the lender at the time the loan is made. Otherwise, the charges are not included within the meaning of the phrase "points and fees"; (iii) All compensation paid directly or indirectly by the borrower to a mortgage broker not otherwise included in subdivision (6)(A)(i) or subdivision (6)(A)(ii) of this section; and (iv) The maximum prepayment fees and penalties that may be charged or collected under the terms of the loan documents, but only if the prepayment fees or penalties exceed: (a) Three percent (3%) of the principal loan amount remaining on the date of the prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made; (b) Two percent (2%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or (c) One percent (1%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the third twelve-month period following the date the loan was made. (B) "Points and fees" shall not include: (i) Taxes, filing fees, and recording and other charges and fees paid or to be paid to public officials for determining the existence of or for perfecting, releasing, or satisfying a security interest; and (ii) Fees paid to a person other than a lender or an affiliate of the lender or to the mortgage broker or an affiliate of the mortgage broker for the following: (a) Tax payment services; (b) Flood certification; (c) Pest infestation and flood determinations; (d) Appraisal fees; (e) Inspections performed before closing; (f) Credit reports; (g) Surveys; (h) Attorney's fees, if the borrower has the right to select the attorney from an approved list or otherwise; (i) Notary fees; (j) Escrow charges, so long as not otherwise included under subdivision (6)(A)(i) of this section; (k) Title insurance premiums; and (l) Fire insurance and flood insurance premiums, if the conditions in 12 C.F.R. § 226.4(d)(2) , as it existed on March 1, 2003, are met; (7) "Reverse mortgage transaction" means a nonrecourse loan secured by a borrower's principal residence that: (A) Provides cash advances to a borrower based upon the amount of equity in the borrower's residence; and (B) Requires no payment of principal or interest until the entire loan becomes due and payable; (8) (A) "Thresholds" means, without regard to whether the loan transaction is or may be a "residential mortgage transaction", as the term "residential mortgage transaction" is defined in 12 C.F.R. § 226.2(a)(24) , as it existed on March 1, 2003: (i) The annual percentage rate of the loan at the time the loan is consummated is such that the loan is a "mortgage" under the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1602(aa) , and regulations adopted pursuant thereto by the Board of Governors of the Federal Reserve System, including 12 C.F.R. § 226.32 , as it existed on March 1, 2003; or (ii) The total points and fees payable by the borrower at or before the closing exceed: (a) Five percent (5%) of the total loan amount if the loan amount is seventy-five thousand dollars ($75,000) or more; (b) Six percent (6%) of the total loan amount if the total loan amount is more than twenty thousand dollars ($20,000), but less than seventy-five thousand dollars ($75,000); or (c) Eight percent (8%) of the total loan amount if the total loan amount is twenty thousand dollars ($20,000) or less. (B) The following discount points and prepayment fees and penalties shall be excluded from the calculation of the total points and fees payable by the borrower: (i) Up to and including two (2) bona fide loan discount points payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than one (1) percentage point the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and (ii) Up to and including one (1) bona fide loan discount point payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than two (2) percentage points the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and (9) "Total loan amount" means the same as the term "total loan amount" as used in 12 C.F.R. § 226.32 , as it existed on March 1, 2003, and the total loan amount shall be calculated in accordance with the Board of Governors of the Federal Reserve System's Official Staff Commentary thereto. Acts 2003, No. 1340, § 2[3]; 2005, No. 2166, §§ 2, 3.

As used in this chapter:

(1) "Affiliate" means any company that controls, is controlled by, or is under common control with another company, as set forth in the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., as it existed on March 1, 2003, as of July 16, 2003;

(2) "Annual percentage rate" means the annual percentage rate for the loan calculated according to the provisions of the Truth in Lending Act, 15 U.S.C. § 1601 et seq., as it existed on March 1, 2003, and the regulations promulgated thereunder by the Board of Governors of the Federal Reserve System;

(3) "Bona fide loan discount points" means loan discount points knowingly paid by the borrower for the purpose of reducing, and that, in fact, result in a bona fide reduction of the interest rate or time price differential applicable to the loan, provided that the amount of the interest rate reduction purchased by the discount points is reasonably consistent with established industry norms and practices for secondary mortgage market transactions;

(4) "Creditor" means any person or entity who participates in the original making or approving of a high-cost home loan;

(5) (A) "High-cost home loan" means a loan, including an open-end credit plan, other than a bridge or construction loan, or a loan made for the purchase of a one-family to four-family residential structure that is secured by a first lien on the structure, in which: (i) The total loan amount does not exceed one hundred fifty thousand dollars ($150,000); (ii) The borrower is a natural person; (iii) The debt is incurred by the borrower primarily for personal, family, or household purposes; (iv) The loan is secured by a mortgage or deed of trust on real estate upon which there is located a structure or structures designed principally for the occupancy of from one (1) to four (4) families which is or will be occupied by the borrower as the borrower's principal dwelling; and (v) The terms of the loan meet or exceed one (1) or more of the thresholds as defined in subdivision (8) of this section. (B) "High-cost home loan" does not include any loan which within sixty (60) days after closing will be insured by, securitized for, or sold to a government agency or government-sponsored enterprise, including the United States Department of Housing and Urban Development, the United States Department of Veterans Affairs, Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, Arkansas Development Finance Authority, and the United States Department of Agriculture, or that the lender can demonstrate was in good faith intended to be so insured by, securitized for, or sold to the government agency or government-sponsored enterprise;

(A) "High-cost home loan" means a loan, including an open-end credit plan, other than a bridge or construction loan, or a loan made for the purchase of a one-family to four-family residential structure that is secured by a first lien on the structure, in which: (i) The total loan amount does not exceed one hundred fifty thousand dollars ($150,000); (ii) The borrower is a natural person; (iii) The debt is incurred by the borrower primarily for personal, family, or household purposes; (iv) The loan is secured by a mortgage or deed of trust on real estate upon which there is located a structure or structures designed principally for the occupancy of from one (1) to four (4) families which is or will be occupied by the borrower as the borrower's principal dwelling; and (v) The terms of the loan meet or exceed one (1) or more of the thresholds as defined in subdivision (8) of this section.

(i) The total loan amount does not exceed one hundred fifty thousand dollars ($150,000);

(ii) The borrower is a natural person;

(iii) The debt is incurred by the borrower primarily for personal, family, or household purposes;

(iv) The loan is secured by a mortgage or deed of trust on real estate upon which there is located a structure or structures designed principally for the occupancy of from one (1) to four (4) families which is or will be occupied by the borrower as the borrower's principal dwelling; and

(v) The terms of the loan meet or exceed one (1) or more of the thresholds as defined in subdivision (8) of this section.

(B) "High-cost home loan" does not include any loan which within sixty (60) days after closing will be insured by, securitized for, or sold to a government agency or government-sponsored enterprise, including the United States Department of Housing and Urban Development, the United States Department of Veterans Affairs, Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, Arkansas Development Finance Authority, and the United States Department of Agriculture, or that the lender can demonstrate was in good faith intended to be so insured by, securitized for, or sold to the government agency or government-sponsored enterprise;

(6) (A) "Points and fees" means: (i) All items required to be disclosed under 12 C.F.R. § 226.4(a) and (b) , as they existed on March 1, 2003, except interest or the time-price differential unless those items are exempt from disclosure under 12 C.F.R. § 226.4(c), (d), (e), or (f) , as they existed on March 1, 2003, except for the items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, the inclusion or exclusion of which is governed by subdivision (6)(A)(ii) of this section; (ii) All charges for items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, but only if the lender receives direct or indirect compensation in connection with the charge or the charge is paid to an affiliate of the lender, but only by the amount the charge exceeds the charge for comparable items provided by a nonaffiliate of the lender at the time the loan is made. Otherwise, the charges are not included within the meaning of the phrase "points and fees"; (iii) All compensation paid directly or indirectly by the borrower to a mortgage broker not otherwise included in subdivision (6)(A)(i) or subdivision (6)(A)(ii) of this section; and (iv) The maximum prepayment fees and penalties that may be charged or collected under the terms of the loan documents, but only if the prepayment fees or penalties exceed: (a) Three percent (3%) of the principal loan amount remaining on the date of the prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made; (b) Two percent (2%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or (c) One percent (1%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the third twelve-month period following the date the loan was made. (B) "Points and fees" shall not include: (i) Taxes, filing fees, and recording and other charges and fees paid or to be paid to public officials for determining the existence of or for perfecting, releasing, or satisfying a security interest; and (ii) Fees paid to a person other than a lender or an affiliate of the lender or to the mortgage broker or an affiliate of the mortgage broker for the following: (a) Tax payment services; (b) Flood certification; (c) Pest infestation and flood determinations; (d) Appraisal fees; (e) Inspections performed before closing; (f) Credit reports; (g) Surveys; (h) Attorney's fees, if the borrower has the right to select the attorney from an approved list or otherwise; (i) Notary fees; (j) Escrow charges, so long as not otherwise included under subdivision (6)(A)(i) of this section; (k) Title insurance premiums; and (l) Fire insurance and flood insurance premiums, if the conditions in 12 C.F.R. § 226.4(d)(2) , as it existed on March 1, 2003, are met;

(A) "Points and fees" means: (i) All items required to be disclosed under 12 C.F.R. § 226.4(a) and (b) , as they existed on March 1, 2003, except interest or the time-price differential unless those items are exempt from disclosure under 12 C.F.R. § 226.4(c), (d), (e), or (f) , as they existed on March 1, 2003, except for the items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, the inclusion or exclusion of which is governed by subdivision (6)(A)(ii) of this section; (ii) All charges for items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, but only if the lender receives direct or indirect compensation in connection with the charge or the charge is paid to an affiliate of the lender, but only by the amount the charge exceeds the charge for comparable items provided by a nonaffiliate of the lender at the time the loan is made. Otherwise, the charges are not included within the meaning of the phrase "points and fees"; (iii) All compensation paid directly or indirectly by the borrower to a mortgage broker not otherwise included in subdivision (6)(A)(i) or subdivision (6)(A)(ii) of this section; and (iv) The maximum prepayment fees and penalties that may be charged or collected under the terms of the loan documents, but only if the prepayment fees or penalties exceed: (a) Three percent (3%) of the principal loan amount remaining on the date of the prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made; (b) Two percent (2%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or (c) One percent (1%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the third twelve-month period following the date the loan was made.

(i) All items required to be disclosed under 12 C.F.R. § 226.4(a) and (b) , as they existed on March 1, 2003, except interest or the time-price differential unless those items are exempt from disclosure under 12 C.F.R. § 226.4(c), (d), (e), or (f) , as they existed on March 1, 2003, except for the items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, the inclusion or exclusion of which is governed by subdivision (6)(A)(ii) of this section;

(ii) All charges for items listed under 12 C.F.R. § 226.4(c)(7) , as it existed on March 1, 2003, but only if the lender receives direct or indirect compensation in connection with the charge or the charge is paid to an affiliate of the lender, but only by the amount the charge exceeds the charge for comparable items provided by a nonaffiliate of the lender at the time the loan is made. Otherwise, the charges are not included within the meaning of the phrase "points and fees";

(iii) All compensation paid directly or indirectly by the borrower to a mortgage broker not otherwise included in subdivision (6)(A)(i) or subdivision (6)(A)(ii) of this section; and

(iv) The maximum prepayment fees and penalties that may be charged or collected under the terms of the loan documents, but only if the prepayment fees or penalties exceed: (a) Three percent (3%) of the principal loan amount remaining on the date of the prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made; (b) Two percent (2%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or (c) One percent (1%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the third twelve-month period following the date the loan was made.

(a) Three percent (3%) of the principal loan amount remaining on the date of the prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made;

(b) Two percent (2%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or

(c) One percent (1%) of the principal loan amount remaining on the date of the prepayment, if the prepayment is made within the third twelve-month period following the date the loan was made.

(B) "Points and fees" shall not include: (i) Taxes, filing fees, and recording and other charges and fees paid or to be paid to public officials for determining the existence of or for perfecting, releasing, or satisfying a security interest; and (ii) Fees paid to a person other than a lender or an affiliate of the lender or to the mortgage broker or an affiliate of the mortgage broker for the following: (a) Tax payment services; (b) Flood certification; (c) Pest infestation and flood determinations; (d) Appraisal fees; (e) Inspections performed before closing; (f) Credit reports; (g) Surveys; (h) Attorney's fees, if the borrower has the right to select the attorney from an approved list or otherwise; (i) Notary fees; (j) Escrow charges, so long as not otherwise included under subdivision (6)(A)(i) of this section; (k) Title insurance premiums; and (l) Fire insurance and flood insurance premiums, if the conditions in 12 C.F.R. § 226.4(d)(2) , as it existed on March 1, 2003, are met;

(i) Taxes, filing fees, and recording and other charges and fees paid or to be paid to public officials for determining the existence of or for perfecting, releasing, or satisfying a security interest; and

(ii) Fees paid to a person other than a lender or an affiliate of the lender or to the mortgage broker or an affiliate of the mortgage broker for the following: (a) Tax payment services; (b) Flood certification; (c) Pest infestation and flood determinations; (d) Appraisal fees; (e) Inspections performed before closing; (f) Credit reports; (g) Surveys; (h) Attorney's fees, if the borrower has the right to select the attorney from an approved list or otherwise; (i) Notary fees; (j) Escrow charges, so long as not otherwise included under subdivision (6)(A)(i) of this section; (k) Title insurance premiums; and (l) Fire insurance and flood insurance premiums, if the conditions in 12 C.F.R. § 226.4(d)(2) , as it existed on March 1, 2003, are met;

(a) Tax payment services;

(b) Flood certification;

(c) Pest infestation and flood determinations;

(d) Appraisal fees;

(e) Inspections performed before closing;

(f) Credit reports;

(g) Surveys;

(h) Attorney's fees, if the borrower has the right to select the attorney from an approved list or otherwise;

(i) Notary fees;

(j) Escrow charges, so long as not otherwise included under subdivision (6)(A)(i) of this section;

(k) Title insurance premiums; and

(l) Fire insurance and flood insurance premiums, if the conditions in 12 C.F.R. § 226.4(d)(2) , as it existed on March 1, 2003, are met;

(7) "Reverse mortgage transaction" means a nonrecourse loan secured by a borrower's principal residence that: (A) Provides cash advances to a borrower based upon the amount of equity in the borrower's residence; and (B) Requires no payment of principal or interest until the entire loan becomes due and payable;

(A) Provides cash advances to a borrower based upon the amount of equity in the borrower's residence; and

(B) Requires no payment of principal or interest until the entire loan becomes due and payable;

(8) (A) "Thresholds" means, without regard to whether the loan transaction is or may be a "residential mortgage transaction", as the term "residential mortgage transaction" is defined in 12 C.F.R. § 226.2(a)(24) , as it existed on March 1, 2003: (i) The annual percentage rate of the loan at the time the loan is consummated is such that the loan is a "mortgage" under the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1602(aa) , and regulations adopted pursuant thereto by the Board of Governors of the Federal Reserve System, including 12 C.F.R. § 226.32 , as it existed on March 1, 2003; or (ii) The total points and fees payable by the borrower at or before the closing exceed: (a) Five percent (5%) of the total loan amount if the loan amount is seventy-five thousand dollars ($75,000) or more; (b) Six percent (6%) of the total loan amount if the total loan amount is more than twenty thousand dollars ($20,000), but less than seventy-five thousand dollars ($75,000); or (c) Eight percent (8%) of the total loan amount if the total loan amount is twenty thousand dollars ($20,000) or less. (B) The following discount points and prepayment fees and penalties shall be excluded from the calculation of the total points and fees payable by the borrower: (i) Up to and including two (2) bona fide loan discount points payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than one (1) percentage point the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and (ii) Up to and including one (1) bona fide loan discount point payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than two (2) percentage points the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and

(A) "Thresholds" means, without regard to whether the loan transaction is or may be a "residential mortgage transaction", as the term "residential mortgage transaction" is defined in 12 C.F.R. § 226.2(a)(24) , as it existed on March 1, 2003: (i) The annual percentage rate of the loan at the time the loan is consummated is such that the loan is a "mortgage" under the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1602(aa) , and regulations adopted pursuant thereto by the Board of Governors of the Federal Reserve System, including 12 C.F.R. § 226.32 , as it existed on March 1, 2003; or (ii) The total points and fees payable by the borrower at or before the closing exceed: (a) Five percent (5%) of the total loan amount if the loan amount is seventy-five thousand dollars ($75,000) or more; (b) Six percent (6%) of the total loan amount if the total loan amount is more than twenty thousand dollars ($20,000), but less than seventy-five thousand dollars ($75,000); or (c) Eight percent (8%) of the total loan amount if the total loan amount is twenty thousand dollars ($20,000) or less.

(i) The annual percentage rate of the loan at the time the loan is consummated is such that the loan is a "mortgage" under the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1602(aa) , and regulations adopted pursuant thereto by the Board of Governors of the Federal Reserve System, including 12 C.F.R. § 226.32 , as it existed on March 1, 2003; or

(ii) The total points and fees payable by the borrower at or before the closing exceed: (a) Five percent (5%) of the total loan amount if the loan amount is seventy-five thousand dollars ($75,000) or more; (b) Six percent (6%) of the total loan amount if the total loan amount is more than twenty thousand dollars ($20,000), but less than seventy-five thousand dollars ($75,000); or (c) Eight percent (8%) of the total loan amount if the total loan amount is twenty thousand dollars ($20,000) or less.

(a) Five percent (5%) of the total loan amount if the loan amount is seventy-five thousand dollars ($75,000) or more;

(b) Six percent (6%) of the total loan amount if the total loan amount is more than twenty thousand dollars ($20,000), but less than seventy-five thousand dollars ($75,000); or

(c) Eight percent (8%) of the total loan amount if the total loan amount is twenty thousand dollars ($20,000) or less.

(B) The following discount points and prepayment fees and penalties shall be excluded from the calculation of the total points and fees payable by the borrower: (i) Up to and including two (2) bona fide loan discount points payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than one (1) percentage point the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and (ii) Up to and including one (1) bona fide loan discount point payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than two (2) percentage points the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and

(i) Up to and including two (2) bona fide loan discount points payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than one (1) percentage point the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and

(ii) Up to and including one (1) bona fide loan discount point payable by the borrower in connection with the loan transaction, but only if the interest rate from which the loan's interest rate will be discounted does not exceed by more than two (2) percentage points the required net yield for a ninety-day standard mandatory delivery commitment for a reasonably comparable loan from either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, whichever is greater; and

(9) "Total loan amount" means the same as the term "total loan amount" as used in 12 C.F.R. § 226.32 , as it existed on March 1, 2003, and the total loan amount shall be calculated in accordance with the Board of Governors of the Federal Reserve System's Official Staff Commentary thereto.

Acts 2003, No. 1340, § 2[3]; 2005, No. 2166, §§ 2, 3.
Ark. Code Ann. § 23-4-505 — AR Code / Title 23 / Chapter 4 / Subchapter 5 / Section 23-4-505
Investigation by commission
Status: in_force

The Arkansas Public Service Commission shall enter upon an investigation concerning the reasonableness of the surcharge within thirty (30) days after filing and upon reasonable notice to the utility. Acts 1981, No. 310, § 2; 1983, No. 262, § 1; A.S.A. 1947, § 73-217.2.

The Arkansas Public Service Commission shall enter upon an investigation concerning the reasonableness of the surcharge within thirty (30) days after filing and upon reasonable notice to the utility.

Acts 1981, No. 310, § 2; 1983, No. 262, § 1; A.S.A. 1947, § 73-217.2.
Ark. Code Ann. § 23-13-714 — AR Code / Title 23 / Chapter 13 / Subchapter 7 / Section 23-13-714
Compliance with motor vehicle safety and emissions requirements
Status: in_force

(a) A transportation network company shall not allow a transportation network company driver to accept trip requests through the transportation network company's website, digital network, or software application unless the motor vehicle that the transportation network company driver will use to provide transportation network company services meets the state's motor vehicle safety and emissions requirements for a private motor vehicle or the safety and emissions requirements for a private motor vehicle of the state in which the motor vehicle is registered. (b) (1) A transportation network company shall verify that an initial safety inspection of a motor vehicle used as a transportation network company motor vehicle is conducted by a mechanic within ninety (90) days of beginning service. (2) The inspection shall be performed or supervised by a mechanic certified by the National Institute for Automotive Service Excellence. (3) A safety inspection conducted under this subsection shall include a check of the following motor vehicle equipment to ensure that the equipment is safe and in proper operating condition: (A) Foot brakes; (B) Emergency parking brake; (C) Suspension and steering mechanisms; (D) Windshield; (E) Rear window and other glass; (F) Windshield wipers; (G) Headlights; (H) Taillights; (I) Turn indicator lights; (J) Brake lights; (K) Front seat adjustment mechanism; (L) Doors, including the opening, closing, and locking mechanisms; (M) Horn; (N) Speedometer; (O) Bumpers; (P) Muffler and exhaust system; (Q) Tires, including their condition and tread depth; (R) Interior and exterior rear view mirrors; and (S) Safety belts for driver and passengers. Added by Act 2015, No. 1050,§ 1, eff. 7/22/2015.

(a) A transportation network company shall not allow a transportation network company driver to accept trip requests through the transportation network company's website, digital network, or software application unless the motor vehicle that the transportation network company driver will use to provide transportation network company services meets the state's motor vehicle safety and emissions requirements for a private motor vehicle or the safety and emissions requirements for a private motor vehicle of the state in which the motor vehicle is registered.

(b) (1) A transportation network company shall verify that an initial safety inspection of a motor vehicle used as a transportation network company motor vehicle is conducted by a mechanic within ninety (90) days of beginning service. (2) The inspection shall be performed or supervised by a mechanic certified by the National Institute for Automotive Service Excellence. (3) A safety inspection conducted under this subsection shall include a check of the following motor vehicle equipment to ensure that the equipment is safe and in proper operating condition: (A) Foot brakes; (B) Emergency parking brake; (C) Suspension and steering mechanisms; (D) Windshield; (E) Rear window and other glass; (F) Windshield wipers; (G) Headlights; (H) Taillights; (I) Turn indicator lights; (J) Brake lights; (K) Front seat adjustment mechanism; (L) Doors, including the opening, closing, and locking mechanisms; (M) Horn; (N) Speedometer; (O) Bumpers; (P) Muffler and exhaust system; (Q) Tires, including their condition and tread depth; (R) Interior and exterior rear view mirrors; and (S) Safety belts for driver and passengers.

(1) A transportation network company shall verify that an initial safety inspection of a motor vehicle used as a transportation network company motor vehicle is conducted by a mechanic within ninety (90) days of beginning service.

(2) The inspection shall be performed or supervised by a mechanic certified by the National Institute for Automotive Service Excellence.

(3) A safety inspection conducted under this subsection shall include a check of the following motor vehicle equipment to ensure that the equipment is safe and in proper operating condition: (A) Foot brakes; (B) Emergency parking brake; (C) Suspension and steering mechanisms; (D) Windshield; (E) Rear window and other glass; (F) Windshield wipers; (G) Headlights; (H) Taillights; (I) Turn indicator lights; (J) Brake lights; (K) Front seat adjustment mechanism; (L) Doors, including the opening, closing, and locking mechanisms; (M) Horn; (N) Speedometer; (O) Bumpers; (P) Muffler and exhaust system; (Q) Tires, including their condition and tread depth; (R) Interior and exterior rear view mirrors; and (S) Safety belts for driver and passengers.

(A) Foot brakes;

(B) Emergency parking brake;

(C) Suspension and steering mechanisms;

(D) Windshield;

(E) Rear window and other glass;

(F) Windshield wipers;

(G) Headlights;

(H) Taillights;

(I) Turn indicator lights;

(J) Brake lights;

(K) Front seat adjustment mechanism;

(L) Doors, including the opening, closing, and locking mechanisms;

(M) Horn;

(N) Speedometer;

(O) Bumpers;

(P) Muffler and exhaust system;

(Q) Tires, including their condition and tread depth;

(R) Interior and exterior rear view mirrors; and

(S) Safety belts for driver and passengers.

Added by Act 2015, No. 1050,§ 1, eff. 7/22/2015.
Ark. Code Ann. § 23-67-408 — AR Code / Title 23 / Chapter 67 / Subchapter 4 / Section 23-67-408
Adverse action notification
Status: in_force

If an insurer takes an adverse action based upon credit information, the insurer shall: (1) Provide the consumer the name, address, and phone number of the person or division at the insurance company responsible for handling applicant or policyholder questions concerning credit-based underwriting decisions; (2) Provide notification to the consumer that an adverse action has been taken, in accordance with the requirements of section 1681m(a) of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., including: (A) The name, address, and toll-free telephone number of the credit bureau that provided the insurer with the credit-based information; (B) The fact that the consumer has the right to obtain a free copy of his or her credit report from the appropriate credit bureau; and (C) The fact that the consumer has the right to challenge information contained in his or her credit report; and (3) (A) Provide notification to the consumer explaining the reasons for the adverse action. (B) (i) The reasons shall be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer's decision to take an adverse action. (ii) The notification shall include a description of up to four (4) factors that were the primary influences of the adverse action. (C) The use of generalized terms such as "poor credit history", "poor credit rating", or "poor credit score" does not meet the explanation requirements of this section. Acts 2003, No. 1452, § 2.

If an insurer takes an adverse action based upon credit information, the insurer shall:

(1) Provide the consumer the name, address, and phone number of the person or division at the insurance company responsible for handling applicant or policyholder questions concerning credit-based underwriting decisions;

(2) Provide notification to the consumer that an adverse action has been taken, in accordance with the requirements of section 1681m(a) of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., including: (A) The name, address, and toll-free telephone number of the credit bureau that provided the insurer with the credit-based information; (B) The fact that the consumer has the right to obtain a free copy of his or her credit report from the appropriate credit bureau; and (C) The fact that the consumer has the right to challenge information contained in his or her credit report; and

(A) The name, address, and toll-free telephone number of the credit bureau that provided the insurer with the credit-based information;

(B) The fact that the consumer has the right to obtain a free copy of his or her credit report from the appropriate credit bureau; and

(C) The fact that the consumer has the right to challenge information contained in his or her credit report; and

(3) (A) Provide notification to the consumer explaining the reasons for the adverse action. (B) (i) The reasons shall be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer's decision to take an adverse action. (ii) The notification shall include a description of up to four (4) factors that were the primary influences of the adverse action. (C) The use of generalized terms such as "poor credit history", "poor credit rating", or "poor credit score" does not meet the explanation requirements of this section.

(A) Provide notification to the consumer explaining the reasons for the adverse action.

(B) (i) The reasons shall be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer's decision to take an adverse action. (ii) The notification shall include a description of up to four (4) factors that were the primary influences of the adverse action.

(i) The reasons shall be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer's decision to take an adverse action.

(ii) The notification shall include a description of up to four (4) factors that were the primary influences of the adverse action.

(C) The use of generalized terms such as "poor credit history", "poor credit rating", or "poor credit score" does not meet the explanation requirements of this section.

Acts 2003, No. 1452, § 2.
Ark. Code Ann. § 23-64-304 — AR Code / Title 23 / Chapter 64 / Subchapter 3 / Section 23-64-304
Determination of course content and credit - Time extensions
Status: in_force

(a) Rules and regulations necessary and appropriate to implement and administer this subchapter shall be promulgated by the Insurance Commissioner. (b) For good cause shown, the commissioner may grant an extension of time during which the educational requirements imposed by this subchapter may be completed, but the extension of time shall not exceed a period of one (1) calendar year. (c) The number of hours for which credit shall be given for such courses, meetings, or programs of instruction shall be as determined by the commissioner. (d) Educational requirements shall be obtained and reported annually to the commissioner on or before the birthdate of the licensee. Failure to report or obtain the mandated educational requirements along with the fee imposed in a timely manner shall result in the additional following fines: (1) If within thirty (30) days after the due date, a fine of twenty-five dollars ($25.00) shall be imposed automatically; (2) If within sixty (60) days after the due date, a fine of fifty dollars ($50.00) shall be imposed automatically; (3) If within ninety (90) days after the due date, a fine of one hundred dollars ($100) shall be imposed automatically; (4) (A) If after ninety (90) days from the due date, the license shall become automatically suspended. (B) Reinstatement of the license shall require payment of a fine of one hundred fifty dollars ($150) if reinstated within one (1) year from the due date of the education; and (5) If after one (1) year from the due date, reinstatement is not available. Should a license be desired, the licensee must again proceed to become licensed as if never having held a license in addition to obtaining the education due when the license was suspended and paying the fine of one hundred fifty dollars ($150). (e) (1) Any licensee fined under subsection (d) of this section may request that the commissioner seal the licensee's records regarding the fine. (2) The underlying conduct of any licensee whose record has been sealed under this section shall be deemed as a matter of law to have never occurred, and the licensee may state that the conduct or fine never occurred. Acts 1989, No. 445, § 1; 1997, No. 1004, § 1; 2003, No. 1203, § 9.

(a) Rules and regulations necessary and appropriate to implement and administer this subchapter shall be promulgated by the Insurance Commissioner.

(b) For good cause shown, the commissioner may grant an extension of time during which the educational requirements imposed by this subchapter may be completed, but the extension of time shall not exceed a period of one (1) calendar year.

(c) The number of hours for which credit shall be given for such courses, meetings, or programs of instruction shall be as determined by the commissioner.

(d) Educational requirements shall be obtained and reported annually to the commissioner on or before the birthdate of the licensee. Failure to report or obtain the mandated educational requirements along with the fee imposed in a timely manner shall result in the additional following fines: (1) If within thirty (30) days after the due date, a fine of twenty-five dollars ($25.00) shall be imposed automatically; (2) If within sixty (60) days after the due date, a fine of fifty dollars ($50.00) shall be imposed automatically; (3) If within ninety (90) days after the due date, a fine of one hundred dollars ($100) shall be imposed automatically; (4) (A) If after ninety (90) days from the due date, the license shall become automatically suspended. (B) Reinstatement of the license shall require payment of a fine of one hundred fifty dollars ($150) if reinstated within one (1) year from the due date of the education; and (5) If after one (1) year from the due date, reinstatement is not available. Should a license be desired, the licensee must again proceed to become licensed as if never having held a license in addition to obtaining the education due when the license was suspended and paying the fine of one hundred fifty dollars ($150).

(1) If within thirty (30) days after the due date, a fine of twenty-five dollars ($25.00) shall be imposed automatically;

(2) If within sixty (60) days after the due date, a fine of fifty dollars ($50.00) shall be imposed automatically;

(3) If within ninety (90) days after the due date, a fine of one hundred dollars ($100) shall be imposed automatically;

(4) (A) If after ninety (90) days from the due date, the license shall become automatically suspended. (B) Reinstatement of the license shall require payment of a fine of one hundred fifty dollars ($150) if reinstated within one (1) year from the due date of the education; and

(A) If after ninety (90) days from the due date, the license shall become automatically suspended.

(B) Reinstatement of the license shall require payment of a fine of one hundred fifty dollars ($150) if reinstated within one (1) year from the due date of the education; and

(5) If after one (1) year from the due date, reinstatement is not available. Should a license be desired, the licensee must again proceed to become licensed as if never having held a license in addition to obtaining the education due when the license was suspended and paying the fine of one hundred fifty dollars ($150).

(e) (1) Any licensee fined under subsection (d) of this section may request that the commissioner seal the licensee's records regarding the fine. (2) The underlying conduct of any licensee whose record has been sealed under this section shall be deemed as a matter of law to have never occurred, and the licensee may state that the conduct or fine never occurred.

(1) Any licensee fined under subsection (d) of this section may request that the commissioner seal the licensee's records regarding the fine.

(2) The underlying conduct of any licensee whose record has been sealed under this section shall be deemed as a matter of law to have never occurred, and the licensee may state that the conduct or fine never occurred.

Acts 1989, No. 445, § 1; 1997, No. 1004, § 1; 2003, No. 1203, § 9.
Ark. Code Ann. § 23-63-1505 — AR Code / Title 23 / Chapter 63 / Subchapter 15 / Section 23-63-1505
Authorized control level event
Status: in_force

(a) "Authorized control level event" means any of the following events: (1) The filing of an RBC report by the health organization that indicates that the health organization's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC; (2) The notification by the Insurance Commissioner to the health organization of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 23-63-1507 ; (3) If under § 23-63-1507 the health organization challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge; (4) The failure of the health organization to respond to a corrective order in a way satisfactory to the commissioner, provided the health organization has not challenged the corrective order under § 23-63-1507 ; or (5) If the health organization has challenged a corrective order under § 23-63-1507 and the commissioner, after a hearing, has rejected the challenge or modified the corrective order, the failure of the health organization to respond to a corrective order in a way satisfactory to the commissioner, after rejection or modification by the commissioner. (b) In the event of an authorized control level event with respect to a health organization, the commissioner shall: (1) Take the actions as are required under § 23-63-1504 regarding a health organization with respect to which a regulatory action level event has occurred; or (2) (A) If the commissioner deems it to be in the best interests of the policyholders and creditors of the health organization and of the public, take such actions as are necessary to cause the health organization to be placed under regulatory control under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . (B) The authorized control level event is sufficient grounds for the commissioner to exercise the rights, powers, and duties with respect to the health organization under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . (C) If the commissioner takes actions under this subdivision (b)(2) pursuant to an adjusted RBC report, the health organization shall be entitled to the protections afforded to health organizations under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . Acts 1999, No. 580, § 5; 2011, No. 760, § 5.

(a) "Authorized control level event" means any of the following events: (1) The filing of an RBC report by the health organization that indicates that the health organization's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC; (2) The notification by the Insurance Commissioner to the health organization of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 23-63-1507 ; (3) If under § 23-63-1507 the health organization challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge; (4) The failure of the health organization to respond to a corrective order in a way satisfactory to the commissioner, provided the health organization has not challenged the corrective order under § 23-63-1507 ; or (5) If the health organization has challenged a corrective order under § 23-63-1507 and the commissioner, after a hearing, has rejected the challenge or modified the corrective order, the failure of the health organization to respond to a corrective order in a way satisfactory to the commissioner, after rejection or modification by the commissioner.

(1) The filing of an RBC report by the health organization that indicates that the health organization's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;

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

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

(4) The failure of the health organization to respond to a corrective order in a way satisfactory to the commissioner, provided the health organization has not challenged the corrective order under § 23-63-1507 ; or

(5) If the health organization has challenged a corrective order under § 23-63-1507 and the commissioner, after a hearing, has rejected the challenge or modified the corrective order, the failure of the health organization to respond to a corrective order in a way satisfactory to the commissioner, after rejection or modification by the commissioner.

(b) In the event of an authorized control level event with respect to a health organization, the commissioner shall: (1) Take the actions as are required under § 23-63-1504 regarding a health organization with respect to which a regulatory action level event has occurred; or (2) (A) If the commissioner deems it to be in the best interests of the policyholders and creditors of the health organization and of the public, take such actions as are necessary to cause the health organization to be placed under regulatory control under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . (B) The authorized control level event is sufficient grounds for the commissioner to exercise the rights, powers, and duties with respect to the health organization under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . (C) If the commissioner takes actions under this subdivision (b)(2) pursuant to an adjusted RBC report, the health organization shall be entitled to the protections afforded to health organizations under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 .

(1) Take the actions as are required under § 23-63-1504 regarding a health organization with respect to which a regulatory action level event has occurred; or

(2) (A) If the commissioner deems it to be in the best interests of the policyholders and creditors of the health organization and of the public, take such actions as are necessary to cause the health organization to be placed under regulatory control under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . (B) The authorized control level event is sufficient grounds for the commissioner to exercise the rights, powers, and duties with respect to the health organization under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 . (C) If the commissioner takes actions under this subdivision (b)(2) pursuant to an adjusted RBC report, the health organization shall be entitled to the protections afforded to health organizations under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 .

(A) If the commissioner deems it to be in the best interests of the policyholders and creditors of the health organization and of the public, take such actions as are necessary to cause the health organization to be placed under regulatory control under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 .

(B) The authorized control level event is sufficient grounds for the commissioner to exercise the rights, powers, and duties with respect to the health organization under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 .

(C) If the commissioner takes actions under this subdivision (b)(2) pursuant to an adjusted RBC report, the health organization shall be entitled to the protections afforded to health organizations under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 .

Acts 1999, No. 580, § 5; 2011, No. 760, § 5.
Ark. Code Ann. § 23-37-706 — AR Code / Title 23 / Chapter 37 / Subchapter 7 / Section 23-37-706
Federal Savings and Loan Insurance Corporation [abolished] as receiver
Status: in_force

(a) The Federal Savings and Loan Insurance Corporation [abolished] is authorized and empowered to act, without bond, as receiver or liquidator of any building and loan or savings and loan association, hereinafter referred to as an "insured association", which has the insurance protection provided by Title IV of the National Housing Act and which shall have been taken over for liquidation pursuant to the provisions of the laws of this state. (b) (1) The appropriate state authority having the right to appoint a receiver or liquidator of the insured association, in the event of the taking over of the insured association for liquidation, shall tender to the Federal Savings and Loan Insurance Corporation [abolished] the appointment as receiver or liquidator thereof, and, if the Federal Savings and Loan Insurance Corporation [abolished] accepts the appointment, the Federal Savings and Loan Insurance Corporation [abolished] shall have and possess all the powers and privileges provided by the laws of this state with respect to a receiver or liquidator of a savings and loan association, its investors, depositors, and other creditors and shall be subject to all duties of a receiver or liquidator. (2) In addition, the Federal Savings and Loan Insurance Corporation [abolished] shall have all the rights, privileges, and powers conferred upon it by federal statutes. (3) The Federal Savings and Loan Insurance Corporation [abolished] may make loans on the security of, or may purchase at public or private sale, and bid at any receiver's sale, and liquidate or sell, any part of the assets of the association of which it is the receiver, and, in the event of the purchase of the assets, it shall bid for and pay a fair and reasonable price. (c) Whether or not the Federal Savings and Loan Insurance Corporation [abolished] shall serve as receiver or liquidator of an insured association, whenever it shall pay or make available for payment the liabilities of an insured association in liquidation which are insured by it, it shall be subrogated, upon the surrender and transfer to it of any share, share account, or account insured by it with respect to that share, share account, or account. However, the surrender and transfer of the share account or account shall not affect any right which the transferor thereof may have in any portion of the share, share account, or account which is uninsured or any right to participate in the distribution of the net proceeds remaining from the disposition of the assets of the insured association. The rights of the investors in, and creditors of, the insured association shall be determined in accordance with the applicable provisions of the laws of this state. (d) Upon the acceptance by the Federal Savings and Loan Insurance Corporation [abolished] of appointment as a receiver or liquidator, possession of, and title to, all the assets, business, and property of the insured association of every kind and nature shall pass to, and be vested in, the Federal Savings and Loan Insurance Corporation [abolished] as receiver or liquidator. Acts 1939, No. 343, § 3; A.S.A. 1947, § 67-857.

(a) The Federal Savings and Loan Insurance Corporation [abolished] is authorized and empowered to act, without bond, as receiver or liquidator of any building and loan or savings and loan association, hereinafter referred to as an "insured association", which has the insurance protection provided by Title IV of the National Housing Act and which shall have been taken over for liquidation pursuant to the provisions of the laws of this state.

(b) (1) The appropriate state authority having the right to appoint a receiver or liquidator of the insured association, in the event of the taking over of the insured association for liquidation, shall tender to the Federal Savings and Loan Insurance Corporation [abolished] the appointment as receiver or liquidator thereof, and, if the Federal Savings and Loan Insurance Corporation [abolished] accepts the appointment, the Federal Savings and Loan Insurance Corporation [abolished] shall have and possess all the powers and privileges provided by the laws of this state with respect to a receiver or liquidator of a savings and loan association, its investors, depositors, and other creditors and shall be subject to all duties of a receiver or liquidator. (2) In addition, the Federal Savings and Loan Insurance Corporation [abolished] shall have all the rights, privileges, and powers conferred upon it by federal statutes. (3) The Federal Savings and Loan Insurance Corporation [abolished] may make loans on the security of, or may purchase at public or private sale, and bid at any receiver's sale, and liquidate or sell, any part of the assets of the association of which it is the receiver, and, in the event of the purchase of the assets, it shall bid for and pay a fair and reasonable price.

(1) The appropriate state authority having the right to appoint a receiver or liquidator of the insured association, in the event of the taking over of the insured association for liquidation, shall tender to the Federal Savings and Loan Insurance Corporation [abolished] the appointment as receiver or liquidator thereof, and, if the Federal Savings and Loan Insurance Corporation [abolished] accepts the appointment, the Federal Savings and Loan Insurance Corporation [abolished] shall have and possess all the powers and privileges provided by the laws of this state with respect to a receiver or liquidator of a savings and loan association, its investors, depositors, and other creditors and shall be subject to all duties of a receiver or liquidator.

(2) In addition, the Federal Savings and Loan Insurance Corporation [abolished] shall have all the rights, privileges, and powers conferred upon it by federal statutes.

(3) The Federal Savings and Loan Insurance Corporation [abolished] may make loans on the security of, or may purchase at public or private sale, and bid at any receiver's sale, and liquidate or sell, any part of the assets of the association of which it is the receiver, and, in the event of the purchase of the assets, it shall bid for and pay a fair and reasonable price.

(c) Whether or not the Federal Savings and Loan Insurance Corporation [abolished] shall serve as receiver or liquidator of an insured association, whenever it shall pay or make available for payment the liabilities of an insured association in liquidation which are insured by it, it shall be subrogated, upon the surrender and transfer to it of any share, share account, or account insured by it with respect to that share, share account, or account. However, the surrender and transfer of the share account or account shall not affect any right which the transferor thereof may have in any portion of the share, share account, or account which is uninsured or any right to participate in the distribution of the net proceeds remaining from the disposition of the assets of the insured association. The rights of the investors in, and creditors of, the insured association shall be determined in accordance with the applicable provisions of the laws of this state.

(d) Upon the acceptance by the Federal Savings and Loan Insurance Corporation [abolished] of appointment as a receiver or liquidator, possession of, and title to, all the assets, business, and property of the insured association of every kind and nature shall pass to, and be vested in, the Federal Savings and Loan Insurance Corporation [abolished] as receiver or liquidator.

Acts 1939, No. 343, § 3; A.S.A. 1947, § 67-857.
Ark. Code Ann. § 23-13-712 — AR Code / Title 23 / Chapter 13 / Subchapter 7 / Section 23-13-712
Drug or alcohol use prohibited
Status: in_force

(a) A transportation network company shall: (1) Implement a zero-tolerance policy prohibiting the use of drugs or alcohol while a transportation network company driver is providing transportation network company services or is logged into the transportation network company's website, digital network, or software application, but is not providing transportation network company services; and (2) Provide notice on its website, digital network, and software application of the zero-tolerance policy and its procedures to report a complaint about a transportation network company driver with whom a passenger was matched and whom the passenger reasonably suspects was under the influence of drugs or alcohol during the time that transportation network company services were provided. (b) (1) Upon receipt of a passenger complaint under this section, the transportation network company shall immediately suspend the transportation network company driver's access to the transportation network company's website, digital network, and software application, and shall conduct an investigation into the reported incident. (2) The suspension shall last until the investigation is completed. (c) The transportation network company shall maintain records relevant to a complaint under this section for at least two (2) years from the date the complaint is received by the transportation network company. Added by Act 2015, No. 1050,§ 1, eff. 7/22/2015.

(a) A transportation network company shall: (1) Implement a zero-tolerance policy prohibiting the use of drugs or alcohol while a transportation network company driver is providing transportation network company services or is logged into the transportation network company's website, digital network, or software application, but is not providing transportation network company services; and (2) Provide notice on its website, digital network, and software application of the zero-tolerance policy and its procedures to report a complaint about a transportation network company driver with whom a passenger was matched and whom the passenger reasonably suspects was under the influence of drugs or alcohol during the time that transportation network company services were provided.

(1) Implement a zero-tolerance policy prohibiting the use of drugs or alcohol while a transportation network company driver is providing transportation network company services or is logged into the transportation network company's website, digital network, or software application, but is not providing transportation network company services; and

(2) Provide notice on its website, digital network, and software application of the zero-tolerance policy and its procedures to report a complaint about a transportation network company driver with whom a passenger was matched and whom the passenger reasonably suspects was under the influence of drugs or alcohol during the time that transportation network company services were provided.

(b) (1) Upon receipt of a passenger complaint under this section, the transportation network company shall immediately suspend the transportation network company driver's access to the transportation network company's website, digital network, and software application, and shall conduct an investigation into the reported incident. (2) The suspension shall last until the investigation is completed.

(1) Upon receipt of a passenger complaint under this section, the transportation network company shall immediately suspend the transportation network company driver's access to the transportation network company's website, digital network, and software application, and shall conduct an investigation into the reported incident.

(2) The suspension shall last until the investigation is completed.

(c) The transportation network company shall maintain records relevant to a complaint under this section for at least two (2) years from the date the complaint is received by the transportation network company.

Added by Act 2015, No. 1050,§ 1, eff. 7/22/2015.
Ark. Code Ann. § 23-93-103 — AR Code / Title 23 / Chapter 93 / Subchapter 1 / Section 23-93-103
Definitions
Status: in_force

As used in this subchapter: (1) "Commissioner" means the Insurance Commissioner; (2) (A) "Continuing care" means the furnishing of independent living units to individuals and: (i) Furnishing nursing care or personal care services under an agreement, whether the nursing care or personal care services are provided in the facility or in another setting designated by the agreement for providing continuing care to individuals; and (ii) (a) Requiring the payment of an entrance fee by an individual not related by consanguinity or affinity to the provider furnishing the living unit. (b) Payment may be made by an entrance fee alone, an entrance fee and periodic payments, or by payment of less fees for service. (B) Agreements to provide continuing care shall include agreements to provide care for any duration, including agreements that are terminable by either party; (3) "Department" means the State Insurance Department; (4) "Entrance fee" means an initial or deferred transfer to a provider of a sum of money or other property made or promised to be made as full or partial consideration for acceptance of a specified individual as a resident in a facility which exceeds six (6) months' rental of the living unit. An accommodation fee, admission fee, or other fee of similar form and application shall be considered to be an entrance fee; (5) "Facility" means a place which provides continuing care; (6) "Living unit" means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one (1) or more identified individuals; (7) (A) "Nursing care" means those services pertaining to the curative, restorative, and preventive aspects of nursing services that are performed by or under the supervision of a registered or licensed nurse. (B) "Nursing care" does not include general health service such as nutritional counseling, exercise programs, or other preventive medicine techniques; (8) (A) "Personal care services" means assistance with meals, dressing, movement, bathing, or other personal needs of maintenance or other direct supervision and oversight of the physical and mental well-being of a person. (B) "Personal care services" does not include general health services such as nutritional counseling, exercise programs, or other preventive medicine techniques; (9) "Provider" means the owner or operator, whether a natural person, partnership, or other incorporated association, trust, or corporation whose owner or operator undertakes to provide continuing care for a fee, whether fixed or variable, for the period of care. The fee may be payable in lump sum, in lump sum and monthly maintenance charges, or in installments; (10) "Refund reserve" means the actuarially determined annual refund amount required to be maintained by a continuing care provider for service of its refund amounts during the next fiscal year of the facility; (11) "Resident" means an individual entitled to receive continuing care in a facility; and (12) "Solicit" means all actions of a provider in seeking to have individuals residing in this state pay an application fee and enter into a continuing care agreement by any means, such as, but not limited to, personal, telephone, or mail communication or any other communication directed to and received by any individual in this state and any advertisements in any media distributed or communicated by any means to individuals in this state. Acts 1987, No. 329, § 3; 1991, No. 1123, § 16; 2001, No. 1553, § 53; 2009, No. 726, § 47.

As used in this subchapter:

(1) "Commissioner" means the Insurance Commissioner;

(2) (A) "Continuing care" means the furnishing of independent living units to individuals and: (i) Furnishing nursing care or personal care services under an agreement, whether the nursing care or personal care services are provided in the facility or in another setting designated by the agreement for providing continuing care to individuals; and (ii) (a) Requiring the payment of an entrance fee by an individual not related by consanguinity or affinity to the provider furnishing the living unit. (b) Payment may be made by an entrance fee alone, an entrance fee and periodic payments, or by payment of less fees for service. (B) Agreements to provide continuing care shall include agreements to provide care for any duration, including agreements that are terminable by either party;

(A) "Continuing care" means the furnishing of independent living units to individuals and: (i) Furnishing nursing care or personal care services under an agreement, whether the nursing care or personal care services are provided in the facility or in another setting designated by the agreement for providing continuing care to individuals; and (ii) (a) Requiring the payment of an entrance fee by an individual not related by consanguinity or affinity to the provider furnishing the living unit. (b) Payment may be made by an entrance fee alone, an entrance fee and periodic payments, or by payment of less fees for service.

(i) Furnishing nursing care or personal care services under an agreement, whether the nursing care or personal care services are provided in the facility or in another setting designated by the agreement for providing continuing care to individuals; and

(ii) (a) Requiring the payment of an entrance fee by an individual not related by consanguinity or affinity to the provider furnishing the living unit. (b) Payment may be made by an entrance fee alone, an entrance fee and periodic payments, or by payment of less fees for service.

(a) Requiring the payment of an entrance fee by an individual not related by consanguinity or affinity to the provider furnishing the living unit.

(b) Payment may be made by an entrance fee alone, an entrance fee and periodic payments, or by payment of less fees for service.

(B) Agreements to provide continuing care shall include agreements to provide care for any duration, including agreements that are terminable by either party;

(3) "Department" means the State Insurance Department;

(4) "Entrance fee" means an initial or deferred transfer to a provider of a sum of money or other property made or promised to be made as full or partial consideration for acceptance of a specified individual as a resident in a facility which exceeds six (6) months' rental of the living unit. An accommodation fee, admission fee, or other fee of similar form and application shall be considered to be an entrance fee;

(5) "Facility" means a place which provides continuing care;

(6) "Living unit" means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one (1) or more identified individuals;

(7) (A) "Nursing care" means those services pertaining to the curative, restorative, and preventive aspects of nursing services that are performed by or under the supervision of a registered or licensed nurse. (B) "Nursing care" does not include general health service such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(A) "Nursing care" means those services pertaining to the curative, restorative, and preventive aspects of nursing services that are performed by or under the supervision of a registered or licensed nurse.

(B) "Nursing care" does not include general health service such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(8) (A) "Personal care services" means assistance with meals, dressing, movement, bathing, or other personal needs of maintenance or other direct supervision and oversight of the physical and mental well-being of a person. (B) "Personal care services" does not include general health services such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(A) "Personal care services" means assistance with meals, dressing, movement, bathing, or other personal needs of maintenance or other direct supervision and oversight of the physical and mental well-being of a person.

(B) "Personal care services" does not include general health services such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(9) "Provider" means the owner or operator, whether a natural person, partnership, or other incorporated association, trust, or corporation whose owner or operator undertakes to provide continuing care for a fee, whether fixed or variable, for the period of care. The fee may be payable in lump sum, in lump sum and monthly maintenance charges, or in installments;

(10) "Refund reserve" means the actuarially determined annual refund amount required to be maintained by a continuing care provider for service of its refund amounts during the next fiscal year of the facility;

(11) "Resident" means an individual entitled to receive continuing care in a facility; and

(12) "Solicit" means all actions of a provider in seeking to have individuals residing in this state pay an application fee and enter into a continuing care agreement by any means, such as, but not limited to, personal, telephone, or mail communication or any other communication directed to and received by any individual in this state and any advertisements in any media distributed or communicated by any means to individuals in this state.

Acts 1987, No. 329, § 3; 1991, No. 1123, § 16; 2001, No. 1553, § 53; 2009, No. 726, § 47.
Ark. Code Ann. § 23-18-1203 — AR Code / Title 23 / Chapter 18 / Subchapter 12 / Section 23-18-1203
Rural Broadband I.D. Expenses Trust Fund - Management of grant application process
Status: in_force

(a) The Institute for Digital Health and Innovation of the University of Arkansas for Medical Sciences shall manage the Rural Broadband I.D. Expenses Trust Fund grant application process for local entities to receive funds under the Rural Broadband I.D. Expenses Trust Fund. (b) The institute shall: (1) Determine Rural Broadband I.D. Expenses Trust Fund grantees; (2) Promulgate rules necessary to implement this subchapter; (3) (A) Determine the amount of the Rural Broadband I.D. Expenses Trust Fund grant funds disbursed to an applicant. (B) An applicant may be a prospective and qualified applicant for a federal grant or loan for a broadband development program under the federal regulations promulgated by the Federal Communications Commission, the United States Department of Agriculture, or another federal agency; (4) Make the determination if the grants shall be awarded; and (5) Inform the Treasurer of State when a determination is made to award Rural Broadband I.D. Expenses Trust Fund grants. (c) The Rural Broadband I.D. Expenses Trust Fund grants awarded under this subchapter shall: (1) Not exceed seventy-five thousand dollars ($75,000) per grant; (2) Be limited to thirty (30) one-time grant awards; and (3) Be made to a financial institution designated by the local entity that is a Rural Broadband I.D. Expenses Trust Fund grantee and that has accounts insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration. (d) (1) A local entity that is a Rural Broadband I.D. Expenses Trust Fund grantee shall: (A) Manage the funds it receives for conducting broadband due-diligence business studies; and (B) File with the institute an audited accounting of disbursed funds for conducting broadband due-diligence business studies, which shall include information concerning the organizations conducting the broadband due-diligence business studies, the amount paid to those organizations, and the due date of broadband due-diligence business studies. (2) The accounting described in subdivision (d)(1)(B) of this section shall be filed no later than: (A) (i) Four (4) months from the date of receipt of the funds. (ii) A local entity that files an accounting under subdivision (d)(2)(A)(i) of this section shall file an additional accounting at the conclusion of the broadband due-diligence business study; or (B) Nine (9) months after receipt of the funds. (e) Any funds not spent on the broadband due-diligence business study shall be paid back to the Treasurer of State within nine (9) months after receipt of the disbursement. Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.

(a) The Institute for Digital Health and Innovation of the University of Arkansas for Medical Sciences shall manage the Rural Broadband I.D. Expenses Trust Fund grant application process for local entities to receive funds under the Rural Broadband I.D. Expenses Trust Fund.

(b) The institute shall: (1) Determine Rural Broadband I.D. Expenses Trust Fund grantees; (2) Promulgate rules necessary to implement this subchapter; (3) (A) Determine the amount of the Rural Broadband I.D. Expenses Trust Fund grant funds disbursed to an applicant. (B) An applicant may be a prospective and qualified applicant for a federal grant or loan for a broadband development program under the federal regulations promulgated by the Federal Communications Commission, the United States Department of Agriculture, or another federal agency; (4) Make the determination if the grants shall be awarded; and (5) Inform the Treasurer of State when a determination is made to award Rural Broadband I.D. Expenses Trust Fund grants.

(1) Determine Rural Broadband I.D. Expenses Trust Fund grantees;

(2) Promulgate rules necessary to implement this subchapter;

(3) (A) Determine the amount of the Rural Broadband I.D. Expenses Trust Fund grant funds disbursed to an applicant. (B) An applicant may be a prospective and qualified applicant for a federal grant or loan for a broadband development program under the federal regulations promulgated by the Federal Communications Commission, the United States Department of Agriculture, or another federal agency;

(A) Determine the amount of the Rural Broadband I.D. Expenses Trust Fund grant funds disbursed to an applicant.

(B) An applicant may be a prospective and qualified applicant for a federal grant or loan for a broadband development program under the federal regulations promulgated by the Federal Communications Commission, the United States Department of Agriculture, or another federal agency;

(4) Make the determination if the grants shall be awarded; and

(5) Inform the Treasurer of State when a determination is made to award Rural Broadband I.D. Expenses Trust Fund grants.

(c) The Rural Broadband I.D. Expenses Trust Fund grants awarded under this subchapter shall: (1) Not exceed seventy-five thousand dollars ($75,000) per grant; (2) Be limited to thirty (30) one-time grant awards; and (3) Be made to a financial institution designated by the local entity that is a Rural Broadband I.D. Expenses Trust Fund grantee and that has accounts insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration.

(1) Not exceed seventy-five thousand dollars ($75,000) per grant;

(2) Be limited to thirty (30) one-time grant awards; and

(3) Be made to a financial institution designated by the local entity that is a Rural Broadband I.D. Expenses Trust Fund grantee and that has accounts insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration.

(d) (1) A local entity that is a Rural Broadband I.D. Expenses Trust Fund grantee shall: (A) Manage the funds it receives for conducting broadband due-diligence business studies; and (B) File with the institute an audited accounting of disbursed funds for conducting broadband due-diligence business studies, which shall include information concerning the organizations conducting the broadband due-diligence business studies, the amount paid to those organizations, and the due date of broadband due-diligence business studies. (2) The accounting described in subdivision (d)(1)(B) of this section shall be filed no later than: (A) (i) Four (4) months from the date of receipt of the funds. (ii) A local entity that files an accounting under subdivision (d)(2)(A)(i) of this section shall file an additional accounting at the conclusion of the broadband due-diligence business study; or (B) Nine (9) months after receipt of the funds.

(1) A local entity that is a Rural Broadband I.D. Expenses Trust Fund grantee shall: (A) Manage the funds it receives for conducting broadband due-diligence business studies; and (B) File with the institute an audited accounting of disbursed funds for conducting broadband due-diligence business studies, which shall include information concerning the organizations conducting the broadband due-diligence business studies, the amount paid to those organizations, and the due date of broadband due-diligence business studies.

(A) Manage the funds it receives for conducting broadband due-diligence business studies; and

(B) File with the institute an audited accounting of disbursed funds for conducting broadband due-diligence business studies, which shall include information concerning the organizations conducting the broadband due-diligence business studies, the amount paid to those organizations, and the due date of broadband due-diligence business studies.

(2) The accounting described in subdivision (d)(1)(B) of this section shall be filed no later than: (A) (i) Four (4) months from the date of receipt of the funds. (ii) A local entity that files an accounting under subdivision (d)(2)(A)(i) of this section shall file an additional accounting at the conclusion of the broadband due-diligence business study; or (B) Nine (9) months after receipt of the funds.

(A) (i) Four (4) months from the date of receipt of the funds. (ii) A local entity that files an accounting under subdivision (d)(2)(A)(i) of this section shall file an additional accounting at the conclusion of the broadband due-diligence business study; or

(i) Four (4) months from the date of receipt of the funds.

(ii) A local entity that files an accounting under subdivision (d)(2)(A)(i) of this section shall file an additional accounting at the conclusion of the broadband due-diligence business study; or

(B) Nine (9) months after receipt of the funds.

(e) Any funds not spent on the broadband due-diligence business study shall be paid back to the Treasurer of State within nine (9) months after receipt of the disbursement.

Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.
Ark. Code Ann. § 23-81-803 — AR Code / Title 23 / Chapter 81 / Subchapter 8 / Section 23-81-803
Licensing requirements
Status: in_force

(a) A person, wherever located, shall not act as a provider or broker with an owner or multiple owners who is a resident of this state without first having obtained a license from the Insurance Commissioner. (b) (1) Application for a provider or broker license shall be made to the commissioner by the applicant on a form prescribed by the commissioner, and the application shall be accompanied by a fee in an amount established by the commissioner. (2) However, the license and fees to continue the license for a provider license shall be reasonable, and the license and fees to continue the license for a broker license shall not exceed those established for an insurance producer, as such fees are otherwise provided for by statute or rule of the commissioner. (c) A life insurance producer who has been licensed as a resident insurance producer with a life line of authority in this state or his or her home state for at least one (1) year and is licensed as a nonresident producer in this state shall be deemed to meet the licensing requirements of this section and shall be permitted to operate as a broker. (d) (1) Not later than thirty (30) days from the first day of operating as a broker, the life insurance producer shall notify the commissioner that he or she is acting as a broker on a form prescribed by the commissioner and shall pay any applicable fee to be determined by the commissioner. (2) Notification shall include an acknowledgement by the life insurance producer that he or she will operate as a broker in accordance with this subchapter. (e) The insurer that issued the policy that is the subject of a life settlement contract shall not be responsible for any act or omission of a broker or provider or purchaser arising out of or in connection with the life settlement transaction unless the insurer receives compensation for the placement of a life settlement contract from the provider or purchaser or broker in connection with the life settlement contract. (f) A person licensed as an attorney, certified public accountant, or financial planner accredited by a nationally recognized accreditation agency who is retained to represent the owner and whose compensation is not paid directly or indirectly by the provider or purchaser may negotiate life settlement contracts on behalf of the owner without having to obtain a license as a broker. (g) (1) Licenses issued under this subchapter may be continued by paying the fees and satisfying the education and other requirements established by rule of the commissioner. (2) Failure to pay the fee within the terms prescribed shall result in the automatic revocation of the license. (h) (1) The applicant shall provide such information as the commissioner may require on forms prepared by the commissioner. (2) The commissioner may require the applicant to fully disclose the identity of its stockholders other than stockholders owning less than ten percent (10%) of the shares of an applicant whose shares are publicly traded, partners, officers, and employees, and the commissioner, in the exercise of the commissioner's sole discretion, may refuse to issue such a license in the name of any person if not satisfied that any officer, employee, stockholder, or partner thereof who may materially influence the applicant's conduct meets the standards of §§ 23-81-801 - 23-81-814 . (i) A license issued to a partnership, corporation, or other entity authorizes all members, officers, and designated employees to act as licensees under the license, if those persons are named in the application and any supplements to the application. (j) Upon the filing of an application and the payment of the license fee, the commissioner shall make an investigation of each applicant and may issue a license if the commissioner finds that the applicant: (1) If a provider, has provided a detailed plan of operation; (2) Is competent and trustworthy and intends to transact its business in good faith; (3) Has a good business reputation and has had experience, training, or education so as to be qualified in the business for which the license is applied; (4) If the applicant is a legal entity, is formed or organized pursuant to the laws of this state, is a foreign legal entity authorized to transact business in this state, or provides a certificate of good standing from the state of its domicile; and (5) Has provided to the commissioner an antifraud plan that meets the requirements of § 23-81-814 and includes: (A) A description of the procedures for detecting and investigating possible fraudulent acts and procedures for resolving material inconsistencies between medical records and insurance applications; (B) A description of the procedures for reporting fraudulent insurance acts to the commissioner; (C) A description of the plan for antifraud education and training of its underwriters and other personnel; and (D) A written description or chart outlining the arrangement of the antifraud personnel who are responsible for the investigation and reporting of possible fraudulent insurance acts and investigating unresolved material inconsistencies between medical records and insurance applications. (k) The commissioner shall not issue any license to any nonresident applicant unless a written designation of an agent for service of process is filed under § 4-20-112 and maintained with the commissioner or unless the applicant has filed with the commissioner the applicant's written irrevocable consent that any action against the applicant may be commenced against the applicant by service of process on the commissioner. (l) Each licensee shall file with the commissioner on or before March 1 of each year an annual statement containing such information as the commissioner by rule may prescribe. (m) A provider shall not use any person to perform the functions of a broker as defined in this subchapter unless the person holds a current, valid license as a broker, as provided in this section. (n) A broker shall not use any person to perform the functions of a provider as defined in this subchapter unless the person holds a current, valid license as a provider, as provided in this section. (o) A provider or broker shall provide to the commissioner new or revised information about officers, ten percent (10%) or more stockholders, partners, directors, members, or designated employees within thirty (30) days of the change. (p) (1) (A) An individual licensed as a broker shall complete on a biennial basis a minimum of fifteen (15) hours of training related to life settlements and life settlement transactions, as required by the commissioner. (B) However, a life insurance producer who is operating as a broker pursuant to this section shall not be subject to the requirements of this subsection. (2) Any person failing to meet the requirements of this subsection shall be subject to the penalties imposed by the commissioner. Acts 2009, No. 796, § 1.

(a) A person, wherever located, shall not act as a provider or broker with an owner or multiple owners who is a resident of this state without first having obtained a license from the Insurance Commissioner.

(b) (1) Application for a provider or broker license shall be made to the commissioner by the applicant on a form prescribed by the commissioner, and the application shall be accompanied by a fee in an amount established by the commissioner. (2) However, the license and fees to continue the license for a provider license shall be reasonable, and the license and fees to continue the license for a broker license shall not exceed those established for an insurance producer, as such fees are otherwise provided for by statute or rule of the commissioner.

(1) Application for a provider or broker license shall be made to the commissioner by the applicant on a form prescribed by the commissioner, and the application shall be accompanied by a fee in an amount established by the commissioner.

(2) However, the license and fees to continue the license for a provider license shall be reasonable, and the license and fees to continue the license for a broker license shall not exceed those established for an insurance producer, as such fees are otherwise provided for by statute or rule of the commissioner.

(c) A life insurance producer who has been licensed as a resident insurance producer with a life line of authority in this state or his or her home state for at least one (1) year and is licensed as a nonresident producer in this state shall be deemed to meet the licensing requirements of this section and shall be permitted to operate as a broker.

(d) (1) Not later than thirty (30) days from the first day of operating as a broker, the life insurance producer shall notify the commissioner that he or she is acting as a broker on a form prescribed by the commissioner and shall pay any applicable fee to be determined by the commissioner. (2) Notification shall include an acknowledgement by the life insurance producer that he or she will operate as a broker in accordance with this subchapter.

(1) Not later than thirty (30) days from the first day of operating as a broker, the life insurance producer shall notify the commissioner that he or she is acting as a broker on a form prescribed by the commissioner and shall pay any applicable fee to be determined by the commissioner.

(2) Notification shall include an acknowledgement by the life insurance producer that he or she will operate as a broker in accordance with this subchapter.

(e) The insurer that issued the policy that is the subject of a life settlement contract shall not be responsible for any act or omission of a broker or provider or purchaser arising out of or in connection with the life settlement transaction unless the insurer receives compensation for the placement of a life settlement contract from the provider or purchaser or broker in connection with the life settlement contract.

(f) A person licensed as an attorney, certified public accountant, or financial planner accredited by a nationally recognized accreditation agency who is retained to represent the owner and whose compensation is not paid directly or indirectly by the provider or purchaser may negotiate life settlement contracts on behalf of the owner without having to obtain a license as a broker.

(g) (1) Licenses issued under this subchapter may be continued by paying the fees and satisfying the education and other requirements established by rule of the commissioner. (2) Failure to pay the fee within the terms prescribed shall result in the automatic revocation of the license.

(1) Licenses issued under this subchapter may be continued by paying the fees and satisfying the education and other requirements established by rule of the commissioner.

(2) Failure to pay the fee within the terms prescribed shall result in the automatic revocation of the license.

(h) (1) The applicant shall provide such information as the commissioner may require on forms prepared by the commissioner. (2) The commissioner may require the applicant to fully disclose the identity of its stockholders other than stockholders owning less than ten percent (10%) of the shares of an applicant whose shares are publicly traded, partners, officers, and employees, and the commissioner, in the exercise of the commissioner's sole discretion, may refuse to issue such a license in the name of any person if not satisfied that any officer, employee, stockholder, or partner thereof who may materially influence the applicant's conduct meets the standards of §§ 23-81-801 - 23-81-814 .

(1) The applicant shall provide such information as the commissioner may require on forms prepared by the commissioner.

(2) The commissioner may require the applicant to fully disclose the identity of its stockholders other than stockholders owning less than ten percent (10%) of the shares of an applicant whose shares are publicly traded, partners, officers, and employees, and the commissioner, in the exercise of the commissioner's sole discretion, may refuse to issue such a license in the name of any person if not satisfied that any officer, employee, stockholder, or partner thereof who may materially influence the applicant's conduct meets the standards of §§ 23-81-801 - 23-81-814 .

(i) A license issued to a partnership, corporation, or other entity authorizes all members, officers, and designated employees to act as licensees under the license, if those persons are named in the application and any supplements to the application.

(j) Upon the filing of an application and the payment of the license fee, the commissioner shall make an investigation of each applicant and may issue a license if the commissioner finds that the applicant: (1) If a provider, has provided a detailed plan of operation; (2) Is competent and trustworthy and intends to transact its business in good faith; (3) Has a good business reputation and has had experience, training, or education so as to be qualified in the business for which the license is applied; (4) If the applicant is a legal entity, is formed or organized pursuant to the laws of this state, is a foreign legal entity authorized to transact business in this state, or provides a certificate of good standing from the state of its domicile; and (5) Has provided to the commissioner an antifraud plan that meets the requirements of § 23-81-814 and includes: (A) A description of the procedures for detecting and investigating possible fraudulent acts and procedures for resolving material inconsistencies between medical records and insurance applications; (B) A description of the procedures for reporting fraudulent insurance acts to the commissioner; (C) A description of the plan for antifraud education and training of its underwriters and other personnel; and (D) A written description or chart outlining the arrangement of the antifraud personnel who are responsible for the investigation and reporting of possible fraudulent insurance acts and investigating unresolved material inconsistencies between medical records and insurance applications.

(1) If a provider, has provided a detailed plan of operation;

(2) Is competent and trustworthy and intends to transact its business in good faith;

(3) Has a good business reputation and has had experience, training, or education so as to be qualified in the business for which the license is applied;

(4) If the applicant is a legal entity, is formed or organized pursuant to the laws of this state, is a foreign legal entity authorized to transact business in this state, or provides a certificate of good standing from the state of its domicile; and

(5) Has provided to the commissioner an antifraud plan that meets the requirements of § 23-81-814 and includes: (A) A description of the procedures for detecting and investigating possible fraudulent acts and procedures for resolving material inconsistencies between medical records and insurance applications; (B) A description of the procedures for reporting fraudulent insurance acts to the commissioner; (C) A description of the plan for antifraud education and training of its underwriters and other personnel; and (D) A written description or chart outlining the arrangement of the antifraud personnel who are responsible for the investigation and reporting of possible fraudulent insurance acts and investigating unresolved material inconsistencies between medical records and insurance applications.

(A) A description of the procedures for detecting and investigating possible fraudulent acts and procedures for resolving material inconsistencies between medical records and insurance applications;

(B) A description of the procedures for reporting fraudulent insurance acts to the commissioner;

(C) A description of the plan for antifraud education and training of its underwriters and other personnel; and

(D) A written description or chart outlining the arrangement of the antifraud personnel who are responsible for the investigation and reporting of possible fraudulent insurance acts and investigating unresolved material inconsistencies between medical records and insurance applications.

(k) The commissioner shall not issue any license to any nonresident applicant unless a written designation of an agent for service of process is filed under § 4-20-112 and maintained with the commissioner or unless the applicant has filed with the commissioner the applicant's written irrevocable consent that any action against the applicant may be commenced against the applicant by service of process on the commissioner.

(l) Each licensee shall file with the commissioner on or before March 1 of each year an annual statement containing such information as the commissioner by rule may prescribe.

(m) A provider shall not use any person to perform the functions of a broker as defined in this subchapter unless the person holds a current, valid license as a broker, as provided in this section.

(n) A broker shall not use any person to perform the functions of a provider as defined in this subchapter unless the person holds a current, valid license as a provider, as provided in this section.

(o) A provider or broker shall provide to the commissioner new or revised information about officers, ten percent (10%) or more stockholders, partners, directors, members, or designated employees within thirty (30) days of the change.

(p) (1) (A) An individual licensed as a broker shall complete on a biennial basis a minimum of fifteen (15) hours of training related to life settlements and life settlement transactions, as required by the commissioner. (B) However, a life insurance producer who is operating as a broker pursuant to this section shall not be subject to the requirements of this subsection. (2) Any person failing to meet the requirements of this subsection shall be subject to the penalties imposed by the commissioner.

(1) (A) An individual licensed as a broker shall complete on a biennial basis a minimum of fifteen (15) hours of training related to life settlements and life settlement transactions, as required by the commissioner. (B) However, a life insurance producer who is operating as a broker pursuant to this section shall not be subject to the requirements of this subsection.

(A) An individual licensed as a broker shall complete on a biennial basis a minimum of fifteen (15) hours of training related to life settlements and life settlement transactions, as required by the commissioner.

(B) However, a life insurance producer who is operating as a broker pursuant to this section shall not be subject to the requirements of this subsection.

(2) Any person failing to meet the requirements of this subsection shall be subject to the penalties imposed by the commissioner.

Acts 2009, No. 796, § 1.
Ark. Code Ann. § 23-4-609 — AR Code / Title 23 / Chapter 4 / Subchapter 6 / Section 23-4-609
Connecting railroad lines under one management
Status: in_force

(a) Where in this state two (2) or more connecting lines of railroad are operated by, or under, one (1) management or company, or where the majority of the stock of each of two (2) or more railroad companies whose tracks connect is owned or controlled, either directly or indirectly, by any one (1) of these companies, the lines of railroad of all these companies, in respect to the application and making of rates within the meaning and intent of §§ 23-4-601 , 23-4-602 , 23-4-608 - 23-4-610 , 23-4-615 , 23-4-706 , 23-10-301 , and 23-11-101 shall be considered as constituting but one and the same railroad. (b) Rates for the carriage of freight or passengers over these railroads or any portion of them shall be computed upon a continuous-mileage basis, the same as upon the line of a single railroad company, whether these railroads have separate boards of directors or not. (c) The Arkansas Department of Transportation shall have the power to fix different rates for different lines bearing the relation to each other described in this section whenever it finds such action necessary to do justice. Amended by Act 2017, No. 707,§ 115, eff. 8/1/2017. Acts 1907, No. 422, § 1, p. 1137; C. & M. Dig., § 861; Pope's Dig., § 1065; A.S.A. 1947, § 73-1411.

(a) Where in this state two (2) or more connecting lines of railroad are operated by, or under, one (1) management or company, or where the majority of the stock of each of two (2) or more railroad companies whose tracks connect is owned or controlled, either directly or indirectly, by any one (1) of these companies, the lines of railroad of all these companies, in respect to the application and making of rates within the meaning and intent of §§ 23-4-601 , 23-4-602 , 23-4-608 - 23-4-610 , 23-4-615 , 23-4-706 , 23-10-301 , and 23-11-101 shall be considered as constituting but one and the same railroad.

(b) Rates for the carriage of freight or passengers over these railroads or any portion of them shall be computed upon a continuous-mileage basis, the same as upon the line of a single railroad company, whether these railroads have separate boards of directors or not.

(c) The Arkansas Department of Transportation shall have the power to fix different rates for different lines bearing the relation to each other described in this section whenever it finds such action necessary to do justice.

Amended by Act 2017, No. 707,§ 115, eff. 8/1/2017.

Acts 1907, No. 422, § 1, p. 1137; C. & M. Dig., § 861; Pope's Dig., § 1065; A.S.A. 1947, § 73-1411.