Ark. Code Ann. § 23-48-604 — AR Code / Title 23 / Chapter 48 / Subchapter 6 / Section 23-48-604
Effect of exchange
Status: in_force

(a) (1) When the plan of exchange of shares as filed with the Bank Commissioner and approved by the commissioner under § 23-48-603 becomes effective in accordance with the terms of the plan, the exchange provided for therein shall be deemed to have been consummated, and each shareholder of the state bank whose shares were acquired shall thereupon cease to be a shareholder of the state bank. (2) The ownership of shares acquired in the plan of exchange, except shares payment of the value of which is required to be made under § 23-48-603 , hereinafter sometimes referred to as "dissenting shares", shall automatically vest in the bank holding company as the acquiring person without any physical transfer or deposit of certificates representing the shares. (3) All dissenting shares shall be considered authorized but no longer outstanding shares of the state bank and may be disposed of in accordance with the provisions of the plan of exchange or as otherwise approved by the commissioner. (b) (1) Certificates representing shares acquired in the plan of exchange of the state bank prior to the plan of exchange's becoming effective, except certificates representing dissenting shares, shall represent, after the plan of exchange becomes effective: (A) Shares of the capital stock or other securities of the bank holding company to be issued in exchange for shares of the state bank; and (B) The right, if any, to receive cash or other consideration upon terms specified in the plan of exchange. (2) However, the plan of exchange may specify that all such certificates shall represent, after the plan of exchange becomes effective, only the right to receive shares of stock or other securities issued by the bank holding company, cash, or a combination thereof upon such terms as specified in the plan of exchange. Acts 1997, No. 89, § 1; 1999, No. 117, § 2.

(a) (1) When the plan of exchange of shares as filed with the Bank Commissioner and approved by the commissioner under § 23-48-603 becomes effective in accordance with the terms of the plan, the exchange provided for therein shall be deemed to have been consummated, and each shareholder of the state bank whose shares were acquired shall thereupon cease to be a shareholder of the state bank. (2) The ownership of shares acquired in the plan of exchange, except shares payment of the value of which is required to be made under § 23-48-603 , hereinafter sometimes referred to as "dissenting shares", shall automatically vest in the bank holding company as the acquiring person without any physical transfer or deposit of certificates representing the shares. (3) All dissenting shares shall be considered authorized but no longer outstanding shares of the state bank and may be disposed of in accordance with the provisions of the plan of exchange or as otherwise approved by the commissioner.

(1) When the plan of exchange of shares as filed with the Bank Commissioner and approved by the commissioner under § 23-48-603 becomes effective in accordance with the terms of the plan, the exchange provided for therein shall be deemed to have been consummated, and each shareholder of the state bank whose shares were acquired shall thereupon cease to be a shareholder of the state bank.

(2) The ownership of shares acquired in the plan of exchange, except shares payment of the value of which is required to be made under § 23-48-603 , hereinafter sometimes referred to as "dissenting shares", shall automatically vest in the bank holding company as the acquiring person without any physical transfer or deposit of certificates representing the shares.

(3) All dissenting shares shall be considered authorized but no longer outstanding shares of the state bank and may be disposed of in accordance with the provisions of the plan of exchange or as otherwise approved by the commissioner.

(b) (1) Certificates representing shares acquired in the plan of exchange of the state bank prior to the plan of exchange's becoming effective, except certificates representing dissenting shares, shall represent, after the plan of exchange becomes effective: (A) Shares of the capital stock or other securities of the bank holding company to be issued in exchange for shares of the state bank; and (B) The right, if any, to receive cash or other consideration upon terms specified in the plan of exchange. (2) However, the plan of exchange may specify that all such certificates shall represent, after the plan of exchange becomes effective, only the right to receive shares of stock or other securities issued by the bank holding company, cash, or a combination thereof upon such terms as specified in the plan of exchange.

(1) Certificates representing shares acquired in the plan of exchange of the state bank prior to the plan of exchange's becoming effective, except certificates representing dissenting shares, shall represent, after the plan of exchange becomes effective: (A) Shares of the capital stock or other securities of the bank holding company to be issued in exchange for shares of the state bank; and (B) The right, if any, to receive cash or other consideration upon terms specified in the plan of exchange.

(A) Shares of the capital stock or other securities of the bank holding company to be issued in exchange for shares of the state bank; and

(B) The right, if any, to receive cash or other consideration upon terms specified in the plan of exchange.

(2) However, the plan of exchange may specify that all such certificates shall represent, after the plan of exchange becomes effective, only the right to receive shares of stock or other securities issued by the bank holding company, cash, or a combination thereof upon such terms as specified in the plan of exchange.

Acts 1997, No. 89, § 1; 1999, No. 117, § 2.
Ark. Code Ann. § 23-92-204 — AR Code / Title 23 / Chapter 92 / Subchapter 2 / Section 23-92-204
Bond required - Exceptions
Status: in_force

(a) Every applicant for a certificate of registration shall file with the application, and shall thereafter maintain in force while operating under the registration, a bond in favor of the people of the State of Arkansas executed by an authorized insurer. The bond shall have a total aggregate liability of twenty-five thousand dollars ($25,000). The bond shall be conditioned upon the full accounting and due payment to the person entitled thereto of any funds coming into the possession of the administrator. (b) The bond shall remain in force until released by the Insurance Commissioner, or until cancelled by the surety. Without prejudice to any liability previously incurred thereunder, the surety may cancel the bond on thirty (30) days' advance written notice to both the administrator and the commissioner. (c) Any applicant for a certificate of registration or for a renewal of a certificate shall not be required to post a bond pursuant to subsection (a) of this section if the applicant operates only pursuant to an administrative services agreement and does not collect, receive, or remit funds on the behalf of insureds. Acts 1985, No. 796, § 8; A.S.A. 1947, § 66-6010; Acts 1987, No. 833, § 1.

(a) Every applicant for a certificate of registration shall file with the application, and shall thereafter maintain in force while operating under the registration, a bond in favor of the people of the State of Arkansas executed by an authorized insurer. The bond shall have a total aggregate liability of twenty-five thousand dollars ($25,000). The bond shall be conditioned upon the full accounting and due payment to the person entitled thereto of any funds coming into the possession of the administrator.

(b) The bond shall remain in force until released by the Insurance Commissioner, or until cancelled by the surety. Without prejudice to any liability previously incurred thereunder, the surety may cancel the bond on thirty (30) days' advance written notice to both the administrator and the commissioner.

(c) Any applicant for a certificate of registration or for a renewal of a certificate shall not be required to post a bond pursuant to subsection (a) of this section if the applicant operates only pursuant to an administrative services agreement and does not collect, receive, or remit funds on the behalf of insureds.

Acts 1985, No. 796, § 8; A.S.A. 1947, § 66-6010; Acts 1987, No. 833, § 1.
Ark. Code Ann. § 23-62-108 — AR Code / Title 23 / Chapter 62 / Subchapter 1 / Section 23-62-108
Title insurance
Status: in_force

As used in the Arkansas Insurance Code, unless the context otherwise requires, "title insurance" is insurance of owners of property or others having an interest therein, or liens or encumbrances thereon, against loss by encumbrance, a defective or invalid title, adverse claim to title, or closing protection. Acts 1959, No. 148, § 79; A.S.A. 1947, § 66-2408; Acts 2007, No. 684, § 2.

As used in the Arkansas Insurance Code, unless the context otherwise requires, "title insurance" is insurance of owners of property or others having an interest therein, or liens or encumbrances thereon, against loss by encumbrance, a defective or invalid title, adverse claim to title, or closing protection.

Acts 1959, No. 148, § 79; A.S.A. 1947, § 66-2408; Acts 2007, No. 684, § 2.
Ark. Code Ann. § 23-12-909 — AR Code / Title 23 / Chapter 12 / Subchapter 9 / Section 23-12-909
Killing or injuring livestock - Actions
Status: in_force

Any person owning in his or her own right or having a special ownership in any horses, mules, cattle, or other stock killed or wounded by any railroad trains running in this state may sue the company running the trains for the damages sustained by the killing or wounding in any court having jurisdiction of the amount of damages in the county where the killing or wounding occurred, at any time within twelve (12) months after the killing or wounding occurred, and recover such damages as the court or jury trying the case may assess. Acts 1961 (1st Ex. Sess.), No. 61, § 7; A.S.A. 1947, § 73-1006.

Any person owning in his or her own right or having a special ownership in any horses, mules, cattle, or other stock killed or wounded by any railroad trains running in this state may sue the company running the trains for the damages sustained by the killing or wounding in any court having jurisdiction of the amount of damages in the county where the killing or wounding occurred, at any time within twelve (12) months after the killing or wounding occurred, and recover such damages as the court or jury trying the case may assess.

Acts 1961 (1st Ex. Sess.), No. 61, § 7; A.S.A. 1947, § 73-1006.
Ark. Code Ann. § 23-63-116 — AR Code / Title 23 / Chapter 63 / Subchapter 1 / Section 23-63-116
Retaliatory tax credit
Status: in_force

(a) A domestic property and casualty insurer that pays any other state or foreign country a tax, fine, penalty, deposit requirement or other material requirement, or any other fee that is determined by the Insurance Commissioner to be a retaliatory tax is entitled to a reduction or credit upon its gross premiums tax in the same amount paid to the other state or foreign country. (b) This section does not apply to any of the following imposed by another state: (1) An application fee, examination fee, license fee, appointment fee, or a continuation fee for an agent, adjuster, service representative, or consultant of a domestic property and casualty insurer; or (2) An ad valorem tax on real or personal property or special purpose obligations, fees, or assessments. Added by Act 2015, No. 1223,§ 6, eff. 7/22/2015.

(a) A domestic property and casualty insurer that pays any other state or foreign country a tax, fine, penalty, deposit requirement or other material requirement, or any other fee that is determined by the Insurance Commissioner to be a retaliatory tax is entitled to a reduction or credit upon its gross premiums tax in the same amount paid to the other state or foreign country.

(b) This section does not apply to any of the following imposed by another state: (1) An application fee, examination fee, license fee, appointment fee, or a continuation fee for an agent, adjuster, service representative, or consultant of a domestic property and casualty insurer; or (2) An ad valorem tax on real or personal property or special purpose obligations, fees, or assessments.

(1) An application fee, examination fee, license fee, appointment fee, or a continuation fee for an agent, adjuster, service representative, or consultant of a domestic property and casualty insurer; or

(2) An ad valorem tax on real or personal property or special purpose obligations, fees, or assessments.

Added by Act 2015, No. 1223,§ 6, eff. 7/22/2015.
Ark. Code Ann. § 23-63-701 — AR Code / Title 23 / Chapter 63 / Subchapter 7 / Section 23-63-701
Limit of risk
Status: in_force

(a) No insurer shall retain any risk on any one (1) subject of insurance, whether located or to be performed in this state or elsewhere, in an amount exceeding ten percent (10%) of its surplus to policyholders. Provided, with the prior approval of the Insurance Commissioner, such a limitation shall not apply to a subject of insurance controlled by the insurer or owned by an affiliate of the insurer. (b) A "subject of insurance" for the purposes of this section as to insurance against fire and hazards other than windstorm, earthquake, or other catastrophic hazards includes all properties insured by the same insurer which are customarily considered by underwriters to be subject to loss or damage from the same fire or the same occurrence of the other hazard insured against. (c) Reinsurance ceded as authorized by §§ 23-62-202 , 23-62-204 , and 23-62-205 shall be deducted in determining risk retained. As to surety risks, deduction shall also be made of the amount assumed by any established incorporated cosurety and the value of any security deposited, pledged, or held subject to the surety's consent and for the surety's protection. (d) As to alien insurers, this section shall relate only to risks and surplus to policyholders of the insurer's United States branch. (e) "Surplus to policyholders", for the purpose of this section, in addition to the insurer's capital and surplus, shall be deemed to include any voluntary reserves which are not required pursuant to law and shall be determined from the last sworn statement of the insurer on file with the commissioner, or by the last report of examination of the insurer, whichever is the more recent at the time of assumption of risk. (f) This section shall not apply to life insurance, disability insurance, title insurance, annuities, insurance of wet marine and foreign trade insurance risks, workers' compensation insurance, employers' liability coverages, nor to any policy or type of coverage as to which the maximum possible loss to the insurer is not readily ascertainable on issuance of the policy. Acts 1959, No. 148, § 80; A.S.A. 1947, § 66-2409; Acts 1989, No. 772, § 3; 2009, No. 726, § 19.

(a) No insurer shall retain any risk on any one (1) subject of insurance, whether located or to be performed in this state or elsewhere, in an amount exceeding ten percent (10%) of its surplus to policyholders. Provided, with the prior approval of the Insurance Commissioner, such a limitation shall not apply to a subject of insurance controlled by the insurer or owned by an affiliate of the insurer.

(b) A "subject of insurance" for the purposes of this section as to insurance against fire and hazards other than windstorm, earthquake, or other catastrophic hazards includes all properties insured by the same insurer which are customarily considered by underwriters to be subject to loss or damage from the same fire or the same occurrence of the other hazard insured against.

(c) Reinsurance ceded as authorized by §§ 23-62-202 , 23-62-204 , and 23-62-205 shall be deducted in determining risk retained. As to surety risks, deduction shall also be made of the amount assumed by any established incorporated cosurety and the value of any security deposited, pledged, or held subject to the surety's consent and for the surety's protection.

(d) As to alien insurers, this section shall relate only to risks and surplus to policyholders of the insurer's United States branch.

(e) "Surplus to policyholders", for the purpose of this section, in addition to the insurer's capital and surplus, shall be deemed to include any voluntary reserves which are not required pursuant to law and shall be determined from the last sworn statement of the insurer on file with the commissioner, or by the last report of examination of the insurer, whichever is the more recent at the time of assumption of risk.

(f) This section shall not apply to life insurance, disability insurance, title insurance, annuities, insurance of wet marine and foreign trade insurance risks, workers' compensation insurance, employers' liability coverages, nor to any policy or type of coverage as to which the maximum possible loss to the insurer is not readily ascertainable on issuance of the policy.

Acts 1959, No. 148, § 80; A.S.A. 1947, § 66-2409; Acts 1989, No. 772, § 3; 2009, No. 726, § 19.
Ark. Code Ann. § 23-63-102 — AR Code / Title 23 / Chapter 63 / Subchapter 1 / Section 23-63-102
Retaliation for foreign taxes, fees, restrictions, etc
Status: in_force

(a) The Insurance Commissioner shall impose upon any insurer or upon the agent or representative of that insurer of any other state or any foreign country doing business in the State of Arkansas the same taxes, licenses, and other fees, in the aggregate, and the same fines, penalties, deposit requirements or other material requirements, obligations, prohibitions, or restrictions that are imposed upon Arkansas insurers or upon their agents or representatives by the laws of the other state or its political subdivisions or the other country or its provinces or political subdivisions. (b) This section does not apply to: (1) Application fees, examination fees, license fees, appointment fees, and continuation fees for agents, adjusters, service representatives, or consultants; or (2) (A) Personal income taxes, ad valorem taxes on real or personal property, or special purpose obligations, fees, or assessments imposed by the other state in connection with particular kinds of insurance, other than property insurance. (B) However, the commissioner shall consider deductions from premium taxes or other taxes payable allowed because of real estate or personal property taxes paid in determining the propriety and extent of retaliatory action under this section. (c) For reporting years beginning on or after January 1, 2005, neither this section nor § 23-63-103 shall apply to any foreign insurer if more than fifteen percent (15%) of its capital stock is owned by a corporation organized under the laws of this state and domiciled within this state. (d) In addition to the funds now appropriated and set aside for the use and benefit of firemen's relief and pension funds by § 24-11-809 , there is appropriated and set aside for the use and benefit of the firemen's relief and pension funds the additional taxes, authorized by subsections (a)-(c) of this section, on all premiums collected by all fire, tornado, and marine insurance companies, corporations, or associations incorporated under the laws of any state or nation other than the State of Arkansas, in all cities and towns in the State of Arkansas, coming within the provisions of § 24-11-809 . Acts 1959, No. 148, § 67; A.S.A. 1947, § 66-2225; Acts 2005, No. 1965, § 1.

(a) The Insurance Commissioner shall impose upon any insurer or upon the agent or representative of that insurer of any other state or any foreign country doing business in the State of Arkansas the same taxes, licenses, and other fees, in the aggregate, and the same fines, penalties, deposit requirements or other material requirements, obligations, prohibitions, or restrictions that are imposed upon Arkansas insurers or upon their agents or representatives by the laws of the other state or its political subdivisions or the other country or its provinces or political subdivisions.

(b) This section does not apply to: (1) Application fees, examination fees, license fees, appointment fees, and continuation fees for agents, adjusters, service representatives, or consultants; or (2) (A) Personal income taxes, ad valorem taxes on real or personal property, or special purpose obligations, fees, or assessments imposed by the other state in connection with particular kinds of insurance, other than property insurance. (B) However, the commissioner shall consider deductions from premium taxes or other taxes payable allowed because of real estate or personal property taxes paid in determining the propriety and extent of retaliatory action under this section.

(1) Application fees, examination fees, license fees, appointment fees, and continuation fees for agents, adjusters, service representatives, or consultants; or

(2) (A) Personal income taxes, ad valorem taxes on real or personal property, or special purpose obligations, fees, or assessments imposed by the other state in connection with particular kinds of insurance, other than property insurance. (B) However, the commissioner shall consider deductions from premium taxes or other taxes payable allowed because of real estate or personal property taxes paid in determining the propriety and extent of retaliatory action under this section.

(A) Personal income taxes, ad valorem taxes on real or personal property, or special purpose obligations, fees, or assessments imposed by the other state in connection with particular kinds of insurance, other than property insurance.

(B) However, the commissioner shall consider deductions from premium taxes or other taxes payable allowed because of real estate or personal property taxes paid in determining the propriety and extent of retaliatory action under this section.

(c) For reporting years beginning on or after January 1, 2005, neither this section nor § 23-63-103 shall apply to any foreign insurer if more than fifteen percent (15%) of its capital stock is owned by a corporation organized under the laws of this state and domiciled within this state.

(d) In addition to the funds now appropriated and set aside for the use and benefit of firemen's relief and pension funds by § 24-11-809 , there is appropriated and set aside for the use and benefit of the firemen's relief and pension funds the additional taxes, authorized by subsections (a)-(c) of this section, on all premiums collected by all fire, tornado, and marine insurance companies, corporations, or associations incorporated under the laws of any state or nation other than the State of Arkansas, in all cities and towns in the State of Arkansas, coming within the provisions of § 24-11-809 .

Acts 1959, No. 148, § 67; A.S.A. 1947, § 66-2225; Acts 2005, No. 1965, § 1.
Ark. Code Ann. § 23-72-118 — AR Code / Title 23 / Chapter 72 / Section 23-72-118
Conversion to level premium plan
Status: in_force

(a) A pro rata assessment insurer, by resolution of its board of directors approved by the Insurance Commissioner, may convert the whole or any part of its membership into a level or stipulated rate division. Thereafter, laws applicable to a level or stipulated rate insurer shall apply and govern the insurer or division so converted. (b) The insurer shall segregate the funds and income of the two (2) classes and not intermingle funds when the insurer is operating on a pro rata assessment basis and with a division on a level or stipulated rate assessment basis. Acts 1959, No. 148, § 573; A.S.A. 1947, § 66-4518.

(a) A pro rata assessment insurer, by resolution of its board of directors approved by the Insurance Commissioner, may convert the whole or any part of its membership into a level or stipulated rate division. Thereafter, laws applicable to a level or stipulated rate insurer shall apply and govern the insurer or division so converted.

(b) The insurer shall segregate the funds and income of the two (2) classes and not intermingle funds when the insurer is operating on a pro rata assessment basis and with a division on a level or stipulated rate assessment basis.

Acts 1959, No. 148, § 573; A.S.A. 1947, § 66-4518.
Ark. Code Ann. § 23-49-106 — AR Code / Title 23 / Chapter 49 / Section 23-49-106
Appointment of receiver - Restrictions on proceedings, liens, or credits
Status: in_force

(a) (1) The Bank Commissioner may appoint the appropriate federal deposit insurance agency as the receiver of the closed institution. If the federal deposit insurance agency accepts the appointment, the commissioner shall file notice with the court of the appointment. (2) If the Federal Deposit Insurance Corporation accepts appointment as receiver, it shall not be required to post any bond. (b) (1) Upon appointment as receiver, title to all assets of the institution vests in the receiver without the execution of any instruments of conveyance, assignment, transfer, or endorsement. (2) If no other receiver is appointed as provided in this chapter, the commissioner shall act as receiver and have all of the powers and duties of a receiver as provided in this chapter. (c) Except as otherwise provided, the sole and exclusive right to liquidate and terminate the affairs of any institution is vested in the receiver appointed under this section, and no other receiver, assignee, trustee, or liquidating agent shall be appointed by any court or any other person. (d) After the commissioner has taken possession of the business and property of any institution, no suit, action, or other proceeding at law or in equity shall be commenced or prosecuted against the institution upon any debt, obligation, claim, or demand. All such claims may be brought against the receiver. (e) (1) No person holding any of the property or credits of the institution shall have any lien or charge against the property or credits for any payment, advance, or clearance made after the commissioner has taken possession. (2) A lien shall not attach to any of the assets or property of the institution by reason of the entry of any judgment recovered against the institution after the commissioner has taken possession of its business and property. Acts 1997, No. 89, § 1.

(a) (1) The Bank Commissioner may appoint the appropriate federal deposit insurance agency as the receiver of the closed institution. If the federal deposit insurance agency accepts the appointment, the commissioner shall file notice with the court of the appointment. (2) If the Federal Deposit Insurance Corporation accepts appointment as receiver, it shall not be required to post any bond.

(1) The Bank Commissioner may appoint the appropriate federal deposit insurance agency as the receiver of the closed institution. If the federal deposit insurance agency accepts the appointment, the commissioner shall file notice with the court of the appointment.

(2) If the Federal Deposit Insurance Corporation accepts appointment as receiver, it shall not be required to post any bond.

(b) (1) Upon appointment as receiver, title to all assets of the institution vests in the receiver without the execution of any instruments of conveyance, assignment, transfer, or endorsement. (2) If no other receiver is appointed as provided in this chapter, the commissioner shall act as receiver and have all of the powers and duties of a receiver as provided in this chapter.

(1) Upon appointment as receiver, title to all assets of the institution vests in the receiver without the execution of any instruments of conveyance, assignment, transfer, or endorsement.

(2) If no other receiver is appointed as provided in this chapter, the commissioner shall act as receiver and have all of the powers and duties of a receiver as provided in this chapter.

(c) Except as otherwise provided, the sole and exclusive right to liquidate and terminate the affairs of any institution is vested in the receiver appointed under this section, and no other receiver, assignee, trustee, or liquidating agent shall be appointed by any court or any other person.

(d) After the commissioner has taken possession of the business and property of any institution, no suit, action, or other proceeding at law or in equity shall be commenced or prosecuted against the institution upon any debt, obligation, claim, or demand. All such claims may be brought against the receiver.

(e) (1) No person holding any of the property or credits of the institution shall have any lien or charge against the property or credits for any payment, advance, or clearance made after the commissioner has taken possession. (2) A lien shall not attach to any of the assets or property of the institution by reason of the entry of any judgment recovered against the institution after the commissioner has taken possession of its business and property.

(1) No person holding any of the property or credits of the institution shall have any lien or charge against the property or credits for any payment, advance, or clearance made after the commissioner has taken possession.

(2) A lien shall not attach to any of the assets or property of the institution by reason of the entry of any judgment recovered against the institution after the commissioner has taken possession of its business and property.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-65-309 — AR Code / Title 23 / Chapter 65 / Subchapter 3 / Section 23-65-309
Acceptance of business from agents by surplus lines brokers
Status: in_force

A licensed surplus lines broker may accept and place surplus lines business for an insurance agent or broker licensed in this state for the kind and class of insurance involved and may compensate the agent or broker therefor. Acts 1959, No. 148, § 195; A.S.A. 1947, § 66-2915; Acts 2011, No. 1055, § 2.

A licensed surplus lines broker may accept and place surplus lines business for an insurance agent or broker licensed in this state for the kind and class of insurance involved and may compensate the agent or broker therefor.

Acts 1959, No. 148, § 195; A.S.A. 1947, § 66-2915; Acts 2011, No. 1055, § 2.
Ark. Code Ann. § 23-78-111 — AR Code / Title 23 / Chapter 78 / Section 23-78-111
Fees - Oath at payment
Status: in_force

(a) (1) In order to meet the expense of supervision and of carrying out the other provisions of this chapter, the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services may set license fees for burial associations subject to its jurisdiction as set forth in § 23-78-109 . (2) The board shall collect the annual license fee from each burial association that is operating and in good standing on or before February 15 of the year in which the license fee is payable. (b) (1) The fee shall be due and payable to the board not later than February 1 of each year, and upon payment of the fee, the board shall issue to each burial association a license that shall entitle the association to do business in the State of Arkansas during the calendar year for which the license is issued. (2) If the license fee for any year is not paid within thirty (30) days from the date upon which it is due, the board may revoke and cancel the authorization of the delinquent burial association to transact business in the State of Arkansas. (c) It shall be the duty of every burial association to certify under oath at the time of the payment of the license fee the true and correct membership of the burial association on January 1 of the applicable year. (d) If any officer or agent of any burial association knowingly makes any false statement with respect to the information required by this section to be furnished, he or she shall be guilty of a Class A misdemeanor. (e) The board shall have and is given the power and authority to reduce or increase, temporarily or permanently, the fees set forth in subsection (a) of this section if the board deems such an action advisable. Amended by Act 2017, No. 788,§ 76, eff. 7/1/2018. Acts 1953, No. 91, § 14; 1973, No. 515, § 1; 1975, No. 380, § 1; 1979, No. 244, § 1; 1981, No. 494, § 2; 1983, No. 784, § 2; 1985, No. 480, § 1; A.S.A. 1947, § 66-1814; Acts 1989, No. 344, § 1; 1995, No. 485, § 1; 2005, No. 1994, § 457; 2009, No. 552, § 1; 2011, No. 875, § 3.

(a) (1) In order to meet the expense of supervision and of carrying out the other provisions of this chapter, the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services may set license fees for burial associations subject to its jurisdiction as set forth in § 23-78-109 . (2) The board shall collect the annual license fee from each burial association that is operating and in good standing on or before February 15 of the year in which the license fee is payable.

(1) In order to meet the expense of supervision and of carrying out the other provisions of this chapter, the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services may set license fees for burial associations subject to its jurisdiction as set forth in § 23-78-109 .

(2) The board shall collect the annual license fee from each burial association that is operating and in good standing on or before February 15 of the year in which the license fee is payable.

(b) (1) The fee shall be due and payable to the board not later than February 1 of each year, and upon payment of the fee, the board shall issue to each burial association a license that shall entitle the association to do business in the State of Arkansas during the calendar year for which the license is issued. (2) If the license fee for any year is not paid within thirty (30) days from the date upon which it is due, the board may revoke and cancel the authorization of the delinquent burial association to transact business in the State of Arkansas.

(1) The fee shall be due and payable to the board not later than February 1 of each year, and upon payment of the fee, the board shall issue to each burial association a license that shall entitle the association to do business in the State of Arkansas during the calendar year for which the license is issued.

(2) If the license fee for any year is not paid within thirty (30) days from the date upon which it is due, the board may revoke and cancel the authorization of the delinquent burial association to transact business in the State of Arkansas.

(c) It shall be the duty of every burial association to certify under oath at the time of the payment of the license fee the true and correct membership of the burial association on January 1 of the applicable year.

(d) If any officer or agent of any burial association knowingly makes any false statement with respect to the information required by this section to be furnished, he or she shall be guilty of a Class A misdemeanor.

(e) The board shall have and is given the power and authority to reduce or increase, temporarily or permanently, the fees set forth in subsection (a) of this section if the board deems such an action advisable.

Amended by Act 2017, No. 788,§ 76, eff. 7/1/2018.

Acts 1953, No. 91, § 14; 1973, No. 515, § 1; 1975, No. 380, § 1; 1979, No. 244, § 1; 1981, No. 494, § 2; 1983, No. 784, § 2; 1985, No. 480, § 1; A.S.A. 1947, § 66-1814; Acts 1989, No. 344, § 1; 1995, No. 485, § 1; 2005, No. 1994, § 457; 2009, No. 552, § 1; 2011, No. 875, § 3.
Ark. Code Ann. § 23-47-501 — AR Code / Title 23 / Chapter 47 / Subchapter 5 / Section 23-47-501
Loan limits - Maximum generally
Status: in_force

(a) The total indebtedness to any state bank of any person shall at no time exceed twenty percent (20%) of the capital base of the bank. (b) (1) Obligations of a person as endorser or guarantor, accommodation or otherwise, of notes or other obligations shall be included in that person's loan limit. (2) However, in the case of obligations that are endorsed without recourse, the limitation of twenty percent (20%) shall be applied to each primary debtor, but not to the liability, in such capacity, of the endorser. (c) (1) A loan or group of loans that are within the legal loan limit of a state bank at the time the loan or loans are made shall be valid for legal loan limit purposes until maturity, as stated in the original contract, regardless of fluctuations in the bank's legal loan limit. However, if a bank's legal loan limit is reduced due to fluctuations in its capital base, a loan or group of loans to a borrower or borrowers that were within the legal loan limit prior to the reduction may become in violation of the bank's reduced legal loan limit upon the extension, renewal, or advancement of additional funds on the loan or group of loans occurring after the reduction in the bank's legal loan limits. (2) State banks are required to calculate their legal loan limits on a quarterly basis to coincide with the requirement to calculate their capital base. (d) (1) If in any instance it shall appear, as determined by the Bank Commissioner, that the interests of a group composed of individuals, partnerships, unincorporated associations, or corporations are so interrelated that, from a credit standpoint, applying standard and customary banking practice, they should be considered as a single unit for the purposes of extensions of credit, the total indebtedness of these interrelated customers shall be combined and treated as the indebtedness of a single customer in applying the loan limit. (2) A state bank shall not be deemed to have violated this section solely by reason of the fact that the indebtedness of a group held by the bank exceeds the limitation of this section at the time the commissioner determines that the indebtedness of the group must be combined. However, if required by the commissioner, the state bank shall dispose of indebtedness of the group in the amount of excess of the limitation of this section within such reasonable time as shall be fixed by the commissioner. Amended by Act 2019, No. 62,§ 1, eff. 7/24/2019. Acts 1997, No. 89, § 1; 2005, No. 427, § 1.

(a) The total indebtedness to any state bank of any person shall at no time exceed twenty percent (20%) of the capital base of the bank.

(b) (1) Obligations of a person as endorser or guarantor, accommodation or otherwise, of notes or other obligations shall be included in that person's loan limit. (2) However, in the case of obligations that are endorsed without recourse, the limitation of twenty percent (20%) shall be applied to each primary debtor, but not to the liability, in such capacity, of the endorser.

(1) Obligations of a person as endorser or guarantor, accommodation or otherwise, of notes or other obligations shall be included in that person's loan limit.

(2) However, in the case of obligations that are endorsed without recourse, the limitation of twenty percent (20%) shall be applied to each primary debtor, but not to the liability, in such capacity, of the endorser.

(c) (1) A loan or group of loans that are within the legal loan limit of a state bank at the time the loan or loans are made shall be valid for legal loan limit purposes until maturity, as stated in the original contract, regardless of fluctuations in the bank's legal loan limit. However, if a bank's legal loan limit is reduced due to fluctuations in its capital base, a loan or group of loans to a borrower or borrowers that were within the legal loan limit prior to the reduction may become in violation of the bank's reduced legal loan limit upon the extension, renewal, or advancement of additional funds on the loan or group of loans occurring after the reduction in the bank's legal loan limits. (2) State banks are required to calculate their legal loan limits on a quarterly basis to coincide with the requirement to calculate their capital base.

(1) A loan or group of loans that are within the legal loan limit of a state bank at the time the loan or loans are made shall be valid for legal loan limit purposes until maturity, as stated in the original contract, regardless of fluctuations in the bank's legal loan limit. However, if a bank's legal loan limit is reduced due to fluctuations in its capital base, a loan or group of loans to a borrower or borrowers that were within the legal loan limit prior to the reduction may become in violation of the bank's reduced legal loan limit upon the extension, renewal, or advancement of additional funds on the loan or group of loans occurring after the reduction in the bank's legal loan limits.

(2) State banks are required to calculate their legal loan limits on a quarterly basis to coincide with the requirement to calculate their capital base.

(d) (1) If in any instance it shall appear, as determined by the Bank Commissioner, that the interests of a group composed of individuals, partnerships, unincorporated associations, or corporations are so interrelated that, from a credit standpoint, applying standard and customary banking practice, they should be considered as a single unit for the purposes of extensions of credit, the total indebtedness of these interrelated customers shall be combined and treated as the indebtedness of a single customer in applying the loan limit. (2) A state bank shall not be deemed to have violated this section solely by reason of the fact that the indebtedness of a group held by the bank exceeds the limitation of this section at the time the commissioner determines that the indebtedness of the group must be combined. However, if required by the commissioner, the state bank shall dispose of indebtedness of the group in the amount of excess of the limitation of this section within such reasonable time as shall be fixed by the commissioner.

(1) If in any instance it shall appear, as determined by the Bank Commissioner, that the interests of a group composed of individuals, partnerships, unincorporated associations, or corporations are so interrelated that, from a credit standpoint, applying standard and customary banking practice, they should be considered as a single unit for the purposes of extensions of credit, the total indebtedness of these interrelated customers shall be combined and treated as the indebtedness of a single customer in applying the loan limit.

(2) A state bank shall not be deemed to have violated this section solely by reason of the fact that the indebtedness of a group held by the bank exceeds the limitation of this section at the time the commissioner determines that the indebtedness of the group must be combined. However, if required by the commissioner, the state bank shall dispose of indebtedness of the group in the amount of excess of the limitation of this section within such reasonable time as shall be fixed by the commissioner.

Amended by Act 2019, No. 62,§ 1, eff. 7/24/2019.

Acts 1997, No. 89, § 1; 2005, No. 427, § 1.
Ark. Code Ann. § 23-11-104 — AR Code / Title 23 / Chapter 11 / Subchapter 1 / Section 23-11-104
Report of department as to information regarding railroad companies
Status: in_force

(a) (1) The Arkansas Department of Transportation shall ascertain as early as practicable the amount of money expended in the construction and equipment per mile of every railroad in Arkansas, the amount of money expended to procure the right-of-way, and the amount of money it would require to reconstruct the roadbed, track, and depots and to replace all the physical properties belonging to the railroad. (2) The department shall also ascertain the amounts paid for salaries to the officers of the railroad, the wages paid to employees, and the operating expenses of each and every railroad in this state, including repairs and interest on indebtedness. (b) When the information required by this section is obtained, it shall be communicated to the Attorney General by report. A duplicate of the report shall be filed with the Auditor of State for public use, and the information shall be printed, from time to time, in the annual report of the department. Amended by Act 2017, No. 707,§ 155, eff. 8/1/2017. Acts 1899, No. 53, § 27, p. 82; C. & M. Dig., § 1652; Pope's Dig., § 1973; A.S.A. 1947, § 73-139.

(a) (1) The Arkansas Department of Transportation shall ascertain as early as practicable the amount of money expended in the construction and equipment per mile of every railroad in Arkansas, the amount of money expended to procure the right-of-way, and the amount of money it would require to reconstruct the roadbed, track, and depots and to replace all the physical properties belonging to the railroad. (2) The department shall also ascertain the amounts paid for salaries to the officers of the railroad, the wages paid to employees, and the operating expenses of each and every railroad in this state, including repairs and interest on indebtedness.

(1) The Arkansas Department of Transportation shall ascertain as early as practicable the amount of money expended in the construction and equipment per mile of every railroad in Arkansas, the amount of money expended to procure the right-of-way, and the amount of money it would require to reconstruct the roadbed, track, and depots and to replace all the physical properties belonging to the railroad.

(2) The department shall also ascertain the amounts paid for salaries to the officers of the railroad, the wages paid to employees, and the operating expenses of each and every railroad in this state, including repairs and interest on indebtedness.

(b) When the information required by this section is obtained, it shall be communicated to the Attorney General by report. A duplicate of the report shall be filed with the Auditor of State for public use, and the information shall be printed, from time to time, in the annual report of the department.

Amended by Act 2017, No. 707,§ 155, eff. 8/1/2017.

Acts 1899, No. 53, § 27, p. 82; C. & M. Dig., § 1652; Pope's Dig., § 1973; A.S.A. 1947, § 73-139.
Ark. Code Ann. § 23-103-401 — AR Code / Title 23 / Chapter 103 / Subchapter 4 / Section 23-103-401
Title
Status: in_force

This subchapter shall be known and may be cited as the "Arkansas Title Insurance Act". Acts 2007, No. 684, § 6.

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

Acts 2007, No. 684, § 6.
Ark. Code Ann. § 23-68-108 — AR Code / Title 23 / Chapter 68 / Section 23-68-108
Grounds for conservation - Domestic, foreign, and alien insurers
Status: in_force

(a) The Insurance Commissioner may apply to the court for an order appointing him or her as receiver and directing him or her to conserve the assets of a domestic insurer upon any of the grounds specified in § 23-68-106 or § 23-68-107 . (b) The commissioner may apply to the court for an order appointing him or her as receiver or ancillary receiver and directing him or her to conserve the assets within this state of a foreign insurer upon any of the following grounds: (1) Upon any of the grounds specified in § 23-68-106 or § 23-68-107 ; or (2) Upon the ground that its property has been sequestered in its domiciliary sovereignty or in any other sovereignty. (c) The commissioner may apply to the court for an order appointing him or her as receiver or ancillary receiver and directing him or her to conserve the assets within this state of any alien insurer upon any of the following grounds: (1) Upon any of the grounds specified in § 23-68-106 or § 23-68-107 ; (2) Upon the ground that the insurer has failed to comply within the time designated by the commissioner with an order made by him or her to make good an impairment of its trusteed funds; or (3) Upon the ground that the property of the insurer has been sequestered in its domiciliary sovereignty or elsewhere. Acts 1959, No. 148, §§ 644, 645; A.S.A. 1947, §§ 66-4807, 66-4808; Acts 1997, No. 1000, § 8.

(a) The Insurance Commissioner may apply to the court for an order appointing him or her as receiver and directing him or her to conserve the assets of a domestic insurer upon any of the grounds specified in § 23-68-106 or § 23-68-107 .

(b) The commissioner may apply to the court for an order appointing him or her as receiver or ancillary receiver and directing him or her to conserve the assets within this state of a foreign insurer upon any of the following grounds: (1) Upon any of the grounds specified in § 23-68-106 or § 23-68-107 ; or (2) Upon the ground that its property has been sequestered in its domiciliary sovereignty or in any other sovereignty.

(1) Upon any of the grounds specified in § 23-68-106 or § 23-68-107 ; or

(2) Upon the ground that its property has been sequestered in its domiciliary sovereignty or in any other sovereignty.

(c) The commissioner may apply to the court for an order appointing him or her as receiver or ancillary receiver and directing him or her to conserve the assets within this state of any alien insurer upon any of the following grounds: (1) Upon any of the grounds specified in § 23-68-106 or § 23-68-107 ; (2) Upon the ground that the insurer has failed to comply within the time designated by the commissioner with an order made by him or her to make good an impairment of its trusteed funds; or (3) Upon the ground that the property of the insurer has been sequestered in its domiciliary sovereignty or elsewhere.

(1) Upon any of the grounds specified in § 23-68-106 or § 23-68-107 ;

(2) Upon the ground that the insurer has failed to comply within the time designated by the commissioner with an order made by him or her to make good an impairment of its trusteed funds; or

(3) Upon the ground that the property of the insurer has been sequestered in its domiciliary sovereignty or elsewhere.

Acts 1959, No. 148, §§ 644, 645; A.S.A. 1947, §§ 66-4807, 66-4808; Acts 1997, No. 1000, § 8.
Ark. Code Ann. § 23-110-304 — AR Code / Title 23 / Chapter 110 / Subchapter 3 / Section 23-110-304
Election
Status: in_force

(a) (1) After receipt of the certification provided for in § 23-110-302(e) , the Secretary of State shall cause to be published by one (1) insertion in a newspaper of general circulation published in each county of this state, not less than thirty (30) days nor more than sixty (60) days before the next general election, a notice reading substantially as follows: Click here to view form. (2) If there is no such newspaper published in any county, the notice may be published in any newspaper having a general circulation in the county. (b) Within the time prescribed by law for the certification of other questions to be submitted to a vote of the people at a general election, the Secretary of State shall duly certify to the county boards of election commissioners of the several counties of the state the question as set forth in the notice provided for in subsection (a) of this section. (c) The county board of election commissioners of each county shall cause to be printed on the general election ballot the following: Click here to view form. (d) (1) The county boards of election commissioners shall canvass the vote and, as in the instance of other statewide measures voted on by the people, certify the results to the Secretary of State who shall forthwith tabulate all returns so received by him or her and, by published notice in a newspaper having a statewide circulation, proclaim the result of the election setting out in the proclamation the total vote for and against the question submitted as provided in subsection (c) of this section. (2) The result of the election as so proclaimed shall be conclusive unless attacked in the courts within thirty (30) days after the date of publication of the proclamation, and all contests in relation thereto shall be under the general election laws of this state. (3) The Secretary of State shall file a certified copy of the proclamation with the Arkansas Racing Commission, and the commission shall immediately notify the corporation of the result of the election. (4) If a majority of the qualified electors of the state voting on the question vote against authorizing the commission to grant the franchise to conduct horse racing in the county, the temporary franchise held by the corporation shall, ipso facto, be null and void as of the final date on which a contest of the results of the election may be commenced, or, in the event of contest, upon the date of final determination of the issue. (e) By use of the moneys deposited with the Secretary of State under the provisions of § 23-110-302(e) , the Secretary of State shall first pay the cost of publication of legal notices required under this section. Any funds which remain from the deposit shall be paid over in equal amounts to the treasurers of the several counties of the state for credit to the General Revenue Fund Account of the State Apportionment Fund. Acts 1957, No. 46, § 13; 1961, No. 57, § 2; 1965 (2nd Ex. Sess.), No. 8, § 3; A.S.A. 1947, § 84-2739.

(a) (1) After receipt of the certification provided for in § 23-110-302(e) , the Secretary of State shall cause to be published by one (1) insertion in a newspaper of general circulation published in each county of this state, not less than thirty (30) days nor more than sixty (60) days before the next general election, a notice reading substantially as follows: Click here to view form. (2) If there is no such newspaper published in any county, the notice may be published in any newspaper having a general circulation in the county.

(1) After receipt of the certification provided for in § 23-110-302(e) , the Secretary of State shall cause to be published by one (1) insertion in a newspaper of general circulation published in each county of this state, not less than thirty (30) days nor more than sixty (60) days before the next general election, a notice reading substantially as follows: Click here to view form.

Click here to view form.

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

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

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

Click here to view form.

(d) (1) The county boards of election commissioners shall canvass the vote and, as in the instance of other statewide measures voted on by the people, certify the results to the Secretary of State who shall forthwith tabulate all returns so received by him or her and, by published notice in a newspaper having a statewide circulation, proclaim the result of the election setting out in the proclamation the total vote for and against the question submitted as provided in subsection (c) of this section. (2) The result of the election as so proclaimed shall be conclusive unless attacked in the courts within thirty (30) days after the date of publication of the proclamation, and all contests in relation thereto shall be under the general election laws of this state. (3) The Secretary of State shall file a certified copy of the proclamation with the Arkansas Racing Commission, and the commission shall immediately notify the corporation of the result of the election. (4) If a majority of the qualified electors of the state voting on the question vote against authorizing the commission to grant the franchise to conduct horse racing in the county, the temporary franchise held by the corporation shall, ipso facto, be null and void as of the final date on which a contest of the results of the election may be commenced, or, in the event of contest, upon the date of final determination of the issue.

(1) The county boards of election commissioners shall canvass the vote and, as in the instance of other statewide measures voted on by the people, certify the results to the Secretary of State who shall forthwith tabulate all returns so received by him or her and, by published notice in a newspaper having a statewide circulation, proclaim the result of the election setting out in the proclamation the total vote for and against the question submitted as provided in subsection (c) of this section.

(2) The result of the election as so proclaimed shall be conclusive unless attacked in the courts within thirty (30) days after the date of publication of the proclamation, and all contests in relation thereto shall be under the general election laws of this state.

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

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

(e) By use of the moneys deposited with the Secretary of State under the provisions of § 23-110-302(e) , the Secretary of State shall first pay the cost of publication of legal notices required under this section. Any funds which remain from the deposit shall be paid over in equal amounts to the treasurers of the several counties of the state for credit to the General Revenue Fund Account of the State Apportionment Fund.

Acts 1957, No. 46, § 13; 1961, No. 57, § 2; 1965 (2nd Ex. Sess.), No. 8, § 3; A.S.A. 1947, § 84-2739.

110_304_1 - Attachment

110_304_2 - Attachment
Ark. Code Ann. § 23-40-104 — AR Code / Title 23 / Chapter 40 / Section 23-40-104
Arkansas Insurance Code not affected
Status: in_force

Except as provided in § 23-40-112(h)(2) , this chapter shall not apply to any licensed insurance company or alter or affect any provisions of the Arkansas Insurance Code. Amended by Act 2019, No. 500,§ 1, eff. 7/24/2019. Acts 1985, No. 156, § 15; A.S.A. 1947, § 67-1727; Acts 1995, No. 852, § 1.

Except as provided in § 23-40-112(h)(2) , this chapter shall not apply to any licensed insurance company or alter or affect any provisions of the Arkansas Insurance Code.

Amended by Act 2019, No. 500,§ 1, eff. 7/24/2019.

Acts 1985, No. 156, § 15; A.S.A. 1947, § 67-1727; Acts 1995, No. 852, § 1.
Ark. Code Ann. § 23-14-103 — AR Code / Title 23 / Chapter 14 / Section 23-14-103
Exemptions
Status: in_force

Nothing in this chapter shall apply to or be construed or held to apply to: (1) The transportation or handling of United States mail; or (2) Any common carrier by aircraft which the Arkansas Department of Transportation shall by order determine to be engaged mainly and principally in interstate commerce and whose intrastate business is incidental to its interstate business, if the department finds that its operations are conducted pursuant to a certificate of public convenience and necessity issued by the Federal Aviation Administration or any other governmental agency successor thereto. Amended by Act 2017, No. 707,§ 234, eff. 8/1/2017. Acts 1945, No. 252, §§ 2, 8A; A.S.A. 1947, §§ 74-402, 74-409.

Nothing in this chapter shall apply to or be construed or held to apply to:

(1) The transportation or handling of United States mail; or

(2) Any common carrier by aircraft which the Arkansas Department of Transportation shall by order determine to be engaged mainly and principally in interstate commerce and whose intrastate business is incidental to its interstate business, if the department finds that its operations are conducted pursuant to a certificate of public convenience and necessity issued by the Federal Aviation Administration or any other governmental agency successor thereto.

Amended by Act 2017, No. 707,§ 234, eff. 8/1/2017.

Acts 1945, No. 252, §§ 2, 8A; A.S.A. 1947, §§ 74-402, 74-409.
Ark. Code Ann. § 23-55-808 — AR Code / Title 23 / Chapter 55 / Section 23-55-808
Receivership
Status: in_force

(a) (1) Whenever a licensee has refused or is unable to pay its obligations generally as they become due or whenever it appears to the commissioner that a licensee is in an unsafe or unsound condition, the commissioner, or the Attorney General representing the commissioner, may apply to the Pulaski County Circuit Court or to the circuit court of any county in which the licensee is located for the appointment of a receiver for the licensee. The court may require the receiver to post a bond in such amount as may appear necessary to protect claimants of the licensee. (2) The receiver, subject to the approval of the court, shall take possession of the books, records, and assets of the licensee and shall take such action with respect to employees, agents, or representatives of the licensee or such other action as may be necessary to conserve the assets of the licensee or ensure payment of instruments issued by the licensee pending further disposition of its business as provided by law. The receiver shall sue and defend, compromise, and settle all claims involving the licensee and exercise such powers and duties as may be necessary and consistent with the laws of this state applicable to the appointment of receivers. (3) The receiver, from time to time, but in no event less frequently than once each calendar quarter, shall report to the court with respect to all acts and proceedings in connection with the receivership. Acts 2007, No. 1595, § 1.

(a) (1) Whenever a licensee has refused or is unable to pay its obligations generally as they become due or whenever it appears to the commissioner that a licensee is in an unsafe or unsound condition, the commissioner, or the Attorney General representing the commissioner, may apply to the Pulaski County Circuit Court or to the circuit court of any county in which the licensee is located for the appointment of a receiver for the licensee. The court may require the receiver to post a bond in such amount as may appear necessary to protect claimants of the licensee. (2) The receiver, subject to the approval of the court, shall take possession of the books, records, and assets of the licensee and shall take such action with respect to employees, agents, or representatives of the licensee or such other action as may be necessary to conserve the assets of the licensee or ensure payment of instruments issued by the licensee pending further disposition of its business as provided by law. The receiver shall sue and defend, compromise, and settle all claims involving the licensee and exercise such powers and duties as may be necessary and consistent with the laws of this state applicable to the appointment of receivers. (3) The receiver, from time to time, but in no event less frequently than once each calendar quarter, shall report to the court with respect to all acts and proceedings in connection with the receivership.

(1) Whenever a licensee has refused or is unable to pay its obligations generally as they become due or whenever it appears to the commissioner that a licensee is in an unsafe or unsound condition, the commissioner, or the Attorney General representing the commissioner, may apply to the Pulaski County Circuit Court or to the circuit court of any county in which the licensee is located for the appointment of a receiver for the licensee. The court may require the receiver to post a bond in such amount as may appear necessary to protect claimants of the licensee.

(2) The receiver, subject to the approval of the court, shall take possession of the books, records, and assets of the licensee and shall take such action with respect to employees, agents, or representatives of the licensee or such other action as may be necessary to conserve the assets of the licensee or ensure payment of instruments issued by the licensee pending further disposition of its business as provided by law. The receiver shall sue and defend, compromise, and settle all claims involving the licensee and exercise such powers and duties as may be necessary and consistent with the laws of this state applicable to the appointment of receivers.

(3) The receiver, from time to time, but in no event less frequently than once each calendar quarter, shall report to the court with respect to all acts and proceedings in connection with the receivership.

Acts 2007, No. 1595, § 1.
Ark. Code Ann. § 23-4-306 — AR Code / Title 23 / Chapter 4 / Subchapter 3 / Section 23-4-306
Intervention by others not precluded
Status: in_force

The right of any party to intervene on any matter before the Arkansas Public Service Commission is by no means precluded by this subchapter. Acts 1981 (Ex. Sess.), No. 39, § 4; A.S.A. 1947, § 73-217n.

The right of any party to intervene on any matter before the Arkansas Public Service Commission is by no means precluded by this subchapter.

Acts 1981 (Ex. Sess.), No. 39, § 4; A.S.A. 1947, § 73-217n.
Ark. Code Ann. § 23-112-1020 — AR Code / Title 23 / Chapter 112 / Subchapter 10 / Section 23-112-1020
Monetary penalty in lieu of suspension or revocation of license - Civil penalty
Status: in_force

(a) For a monetary penalty in lieu of suspension or revocation of a license, the following apply: (1) (A) If after alternative proceedings or notice and hearing the Arkansas Motor Vehicle Commission finds that a person holding a license under this subchapter is guilty of a violation of this subchapter or rules promulgated under this subchapter, the commission may impose a monetary penalty upon the licensee in lieu of suspension or revocation of a license. (B) (i) The commission may require the licensee to pay the monetary penalty with the sanction that the license shall be suspended until the penalty is paid. (ii) The period of suspension shall not exceed ninety (90) days from entry of the commission's order or final order on appeal. (C) The penalty in lieu of suspension or revocation of a license may be imposed only if the commission formally finds that the public interest would not be impaired by the imposition of the penalty and the payment of the penalty will achieve the desired disciplinary results; (2) (A) If the commission finds that there is sufficient cause upon which to base the revocation of a license, the amount of the monetary penalty in lieu of revocation shall not exceed ten thousand dollars ($10,000). (B) (i) If the commission finds that there is sufficient cause upon which to base the suspension of a license, the amount of the monetary penalty in lieu of suspension shall not be less than fifty dollars ($50.00) nor more than five hundred dollars ($500) per day for each day the license would otherwise be suspended. (ii) However, the amount of the penalty shall not exceed the aggregate of five thousand dollars ($5,000); (3) If the commission has revoked the license because of the violation, the commission shall not impose a penalty; (4) Each instance when this subchapter or a rule is violated constitutes a separate violation; and (5) Unless the penalty assessed under this section is paid within fifteen (15) days following the date for an appeal from the order, the commission shall have the power to file suit in Pulaski County Circuit Court to obtain a judgment for the amount of penalty not paid. (b) The following apply to a civil penalty: (1) If after request for alternative proceedings or notice and hearing the commission finds that a person not holding a license under this subchapter is guilty of a violation of this subchapter or rules promulgated under this subchapter, the commission may impose a monetary penalty upon the person not to exceed one thousand dollars ($1,000) per violation; (2) Each day of violation of this subchapter or of a rule constitutes a separate violation subjecting the person to a separate civil penalty; (3) Unless the penalty assessed under this section is paid within fifteen (15) days following the date for an appeal from the order, the commission may file suit in Pulaski County Circuit Court to obtain a judgment for the amount of the penalty not paid; and (4) (A) Repeated violations by a person not holding a license under this subchapter shall result in an increase in the penalty assessed by the commission. (B) As used in this subdivision (b)(4), "second violation" and "subsequent violation" mean a violation of the same nature as a previously remedied violation that occurs within five (5) years of the remedied violation by a person not holding a license under this subchapter. (C) The commission may impose a penalty not to exceed two thousand five hundred dollars ($2,500) for a second violation, with the penalty increasing in increments of two thousand five hundred dollars ($2,500) for each subsequent violation. Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.

(a) For a monetary penalty in lieu of suspension or revocation of a license, the following apply: (1) (A) If after alternative proceedings or notice and hearing the Arkansas Motor Vehicle Commission finds that a person holding a license under this subchapter is guilty of a violation of this subchapter or rules promulgated under this subchapter, the commission may impose a monetary penalty upon the licensee in lieu of suspension or revocation of a license. (B) (i) The commission may require the licensee to pay the monetary penalty with the sanction that the license shall be suspended until the penalty is paid. (ii) The period of suspension shall not exceed ninety (90) days from entry of the commission's order or final order on appeal. (C) The penalty in lieu of suspension or revocation of a license may be imposed only if the commission formally finds that the public interest would not be impaired by the imposition of the penalty and the payment of the penalty will achieve the desired disciplinary results; (2) (A) If the commission finds that there is sufficient cause upon which to base the revocation of a license, the amount of the monetary penalty in lieu of revocation shall not exceed ten thousand dollars ($10,000). (B) (i) If the commission finds that there is sufficient cause upon which to base the suspension of a license, the amount of the monetary penalty in lieu of suspension shall not be less than fifty dollars ($50.00) nor more than five hundred dollars ($500) per day for each day the license would otherwise be suspended. (ii) However, the amount of the penalty shall not exceed the aggregate of five thousand dollars ($5,000); (3) If the commission has revoked the license because of the violation, the commission shall not impose a penalty; (4) Each instance when this subchapter or a rule is violated constitutes a separate violation; and (5) Unless the penalty assessed under this section is paid within fifteen (15) days following the date for an appeal from the order, the commission shall have the power to file suit in Pulaski County Circuit Court to obtain a judgment for the amount of penalty not paid.

(1) (A) If after alternative proceedings or notice and hearing the Arkansas Motor Vehicle Commission finds that a person holding a license under this subchapter is guilty of a violation of this subchapter or rules promulgated under this subchapter, the commission may impose a monetary penalty upon the licensee in lieu of suspension or revocation of a license. (B) (i) The commission may require the licensee to pay the monetary penalty with the sanction that the license shall be suspended until the penalty is paid. (ii) The period of suspension shall not exceed ninety (90) days from entry of the commission's order or final order on appeal. (C) The penalty in lieu of suspension or revocation of a license may be imposed only if the commission formally finds that the public interest would not be impaired by the imposition of the penalty and the payment of the penalty will achieve the desired disciplinary results;

(A) If after alternative proceedings or notice and hearing the Arkansas Motor Vehicle Commission finds that a person holding a license under this subchapter is guilty of a violation of this subchapter or rules promulgated under this subchapter, the commission may impose a monetary penalty upon the licensee in lieu of suspension or revocation of a license.

(B) (i) The commission may require the licensee to pay the monetary penalty with the sanction that the license shall be suspended until the penalty is paid. (ii) The period of suspension shall not exceed ninety (90) days from entry of the commission's order or final order on appeal.

(i) The commission may require the licensee to pay the monetary penalty with the sanction that the license shall be suspended until the penalty is paid.

(ii) The period of suspension shall not exceed ninety (90) days from entry of the commission's order or final order on appeal.

(C) The penalty in lieu of suspension or revocation of a license may be imposed only if the commission formally finds that the public interest would not be impaired by the imposition of the penalty and the payment of the penalty will achieve the desired disciplinary results;

(2) (A) If the commission finds that there is sufficient cause upon which to base the revocation of a license, the amount of the monetary penalty in lieu of revocation shall not exceed ten thousand dollars ($10,000). (B) (i) If the commission finds that there is sufficient cause upon which to base the suspension of a license, the amount of the monetary penalty in lieu of suspension shall not be less than fifty dollars ($50.00) nor more than five hundred dollars ($500) per day for each day the license would otherwise be suspended. (ii) However, the amount of the penalty shall not exceed the aggregate of five thousand dollars ($5,000);

(A) If the commission finds that there is sufficient cause upon which to base the revocation of a license, the amount of the monetary penalty in lieu of revocation shall not exceed ten thousand dollars ($10,000).

(B) (i) If the commission finds that there is sufficient cause upon which to base the suspension of a license, the amount of the monetary penalty in lieu of suspension shall not be less than fifty dollars ($50.00) nor more than five hundred dollars ($500) per day for each day the license would otherwise be suspended. (ii) However, the amount of the penalty shall not exceed the aggregate of five thousand dollars ($5,000);

(i) If the commission finds that there is sufficient cause upon which to base the suspension of a license, the amount of the monetary penalty in lieu of suspension shall not be less than fifty dollars ($50.00) nor more than five hundred dollars ($500) per day for each day the license would otherwise be suspended.

(ii) However, the amount of the penalty shall not exceed the aggregate of five thousand dollars ($5,000);

(3) If the commission has revoked the license because of the violation, the commission shall not impose a penalty;

(4) Each instance when this subchapter or a rule is violated constitutes a separate violation; and

(5) Unless the penalty assessed under this section is paid within fifteen (15) days following the date for an appeal from the order, the commission shall have the power to file suit in Pulaski County Circuit Court to obtain a judgment for the amount of penalty not paid.

(b) The following apply to a civil penalty: (1) If after request for alternative proceedings or notice and hearing the commission finds that a person not holding a license under this subchapter is guilty of a violation of this subchapter or rules promulgated under this subchapter, the commission may impose a monetary penalty upon the person not to exceed one thousand dollars ($1,000) per violation; (2) Each day of violation of this subchapter or of a rule constitutes a separate violation subjecting the person to a separate civil penalty; (3) Unless the penalty assessed under this section is paid within fifteen (15) days following the date for an appeal from the order, the commission may file suit in Pulaski County Circuit Court to obtain a judgment for the amount of the penalty not paid; and (4) (A) Repeated violations by a person not holding a license under this subchapter shall result in an increase in the penalty assessed by the commission. (B) As used in this subdivision (b)(4), "second violation" and "subsequent violation" mean a violation of the same nature as a previously remedied violation that occurs within five (5) years of the remedied violation by a person not holding a license under this subchapter. (C) The commission may impose a penalty not to exceed two thousand five hundred dollars ($2,500) for a second violation, with the penalty increasing in increments of two thousand five hundred dollars ($2,500) for each subsequent violation.

(1) If after request for alternative proceedings or notice and hearing the commission finds that a person not holding a license under this subchapter is guilty of a violation of this subchapter or rules promulgated under this subchapter, the commission may impose a monetary penalty upon the person not to exceed one thousand dollars ($1,000) per violation;

(2) Each day of violation of this subchapter or of a rule constitutes a separate violation subjecting the person to a separate civil penalty;

(3) Unless the penalty assessed under this section is paid within fifteen (15) days following the date for an appeal from the order, the commission may file suit in Pulaski County Circuit Court to obtain a judgment for the amount of the penalty not paid; and

(4) (A) Repeated violations by a person not holding a license under this subchapter shall result in an increase in the penalty assessed by the commission. (B) As used in this subdivision (b)(4), "second violation" and "subsequent violation" mean a violation of the same nature as a previously remedied violation that occurs within five (5) years of the remedied violation by a person not holding a license under this subchapter. (C) The commission may impose a penalty not to exceed two thousand five hundred dollars ($2,500) for a second violation, with the penalty increasing in increments of two thousand five hundred dollars ($2,500) for each subsequent violation.

(A) Repeated violations by a person not holding a license under this subchapter shall result in an increase in the penalty assessed by the commission.

(B) As used in this subdivision (b)(4), "second violation" and "subsequent violation" mean a violation of the same nature as a previously remedied violation that occurs within five (5) years of the remedied violation by a person not holding a license under this subchapter.

(C) The commission may impose a penalty not to exceed two thousand five hundred dollars ($2,500) for a second violation, with the penalty increasing in increments of two thousand five hundred dollars ($2,500) for each subsequent violation.

Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.
Ark. Code Ann. § 23-70-118 — AR Code / Title 23 / Chapter 70 / Section 23-70-118
Assessments
Status: in_force

(a) Assessments may be levied from time to time upon subscribers of a domestic reciprocal insurer, liable therefor under the terms of their policies, by the attorney upon approval in advance by the subscribers' advisory committee and the Insurance Commissioner or by the commissioner in liquidation of the insurer. (b) Each subscriber's share of a deficiency for which an assessment is made, but not exceeding in any event his or her aggregate contingent liability as computed in accordance with § 23-70-119 , shall be computed by applying to the premiums earned on the subscribers' policies during the period to be covered by the assessment the ratio of the total deficiency to the total premiums earned during the period upon all policies subject to the assessment. (c) In computing the earned premiums for the purposes of this section, the gross premiums received by the insurer for the policy shall be used as a base, solely deducting therefrom charges not recurring upon the renewal or extension of the policy. (d) No subscriber shall have an offset against any assessment for which he or she is liable on account of any claim for unearned premiums or losses payable. (e) Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his or her share of any assessment, as computed and limited in accordance with this chapter, if: (1) While his or her policy is in force or within one (1) year after its termination, he or she is notified by either the attorney or the commissioner of his or her intentions to levy the assessment; or (2) An order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his or her policy is in force or within one (1) year after its termination. Acts 1959, No. 148, §§ 532, 533; A.S.A. 1947, §§ 66-4323, 66-4324.

(a) Assessments may be levied from time to time upon subscribers of a domestic reciprocal insurer, liable therefor under the terms of their policies, by the attorney upon approval in advance by the subscribers' advisory committee and the Insurance Commissioner or by the commissioner in liquidation of the insurer.

(b) Each subscriber's share of a deficiency for which an assessment is made, but not exceeding in any event his or her aggregate contingent liability as computed in accordance with § 23-70-119 , shall be computed by applying to the premiums earned on the subscribers' policies during the period to be covered by the assessment the ratio of the total deficiency to the total premiums earned during the period upon all policies subject to the assessment.

(c) In computing the earned premiums for the purposes of this section, the gross premiums received by the insurer for the policy shall be used as a base, solely deducting therefrom charges not recurring upon the renewal or extension of the policy.

(d) No subscriber shall have an offset against any assessment for which he or she is liable on account of any claim for unearned premiums or losses payable.

(e) Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his or her share of any assessment, as computed and limited in accordance with this chapter, if: (1) While his or her policy is in force or within one (1) year after its termination, he or she is notified by either the attorney or the commissioner of his or her intentions to levy the assessment; or (2) An order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his or her policy is in force or within one (1) year after its termination.

(1) While his or her policy is in force or within one (1) year after its termination, he or she is notified by either the attorney or the commissioner of his or her intentions to levy the assessment; or

(2) An order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his or her policy is in force or within one (1) year after its termination.

Acts 1959, No. 148, §§ 532, 533; A.S.A. 1947, §§ 66-4323, 66-4324.
Ark. Code Ann. § 23-89-511 — AR Code / Title 23 / Chapter 89 / Subchapter 5 / Section 23-89-511
Amusement ride operators
Status: in_force

(a) Any person directly operating any amusement ride or amusement attraction: (1) Must be at least sixteen (16) years of age; (2) Must be trained in the proper use and operation of the device; (3) Must operate only one (1) amusement ride at a time; and (4) May not operate any amusement ride or amusement attraction while intoxicated. (b) For the purposes of this section, "intoxicated" means influenced or affected by the ingestion of alcohol, a controlled substance, any intoxicant, or any combination thereof, to such a degree that the operator's reactions, motor skills, and judgment are substantially altered and the operator, therefore, constitutes a clear and substantial danger of physical injury or death to amusement ride patrons. Acts 2001, No. 1365, § 7.

(a) Any person directly operating any amusement ride or amusement attraction: (1) Must be at least sixteen (16) years of age; (2) Must be trained in the proper use and operation of the device; (3) Must operate only one (1) amusement ride at a time; and (4) May not operate any amusement ride or amusement attraction while intoxicated.

(1) Must be at least sixteen (16) years of age;

(2) Must be trained in the proper use and operation of the device;

(3) Must operate only one (1) amusement ride at a time; and

(4) May not operate any amusement ride or amusement attraction while intoxicated.

(b) For the purposes of this section, "intoxicated" means influenced or affected by the ingestion of alcohol, a controlled substance, any intoxicant, or any combination thereof, to such a degree that the operator's reactions, motor skills, and judgment are substantially altered and the operator, therefore, constitutes a clear and substantial danger of physical injury or death to amusement ride patrons.

Acts 2001, No. 1365, § 7.
Ark. Code Ann. § 23-64-517 — AR Code / Title 23 / Chapter 64 / Subchapter 5 / Section 23-64-517
Reporting of actions
Status: in_force

(a) (1) A producer shall report to the Insurance Commissioner any administrative action taken against the producer in another jurisdiction or by another governmental agency in this state within thirty (30) days after the final disposition of the matter. (2) The report shall include a copy of the order, consent order, or other relevant legal documents. (b) (1) Within thirty (30) days after the producer enters a plea with the court, a producer shall report to the commissioner any criminal prosecution of the producer taken in any jurisdiction. (2) The report shall include a copy of the initial complaint filed, the order resulting from the hearing, and any other relevant legal documents. Acts 2001, No. 580, § 1; 2007, No. 330, § 1.

(a) (1) A producer shall report to the Insurance Commissioner any administrative action taken against the producer in another jurisdiction or by another governmental agency in this state within thirty (30) days after the final disposition of the matter. (2) The report shall include a copy of the order, consent order, or other relevant legal documents.

(1) A producer shall report to the Insurance Commissioner any administrative action taken against the producer in another jurisdiction or by another governmental agency in this state within thirty (30) days after the final disposition of the matter.

(2) The report shall include a copy of the order, consent order, or other relevant legal documents.

(b) (1) Within thirty (30) days after the producer enters a plea with the court, a producer shall report to the commissioner any criminal prosecution of the producer taken in any jurisdiction. (2) The report shall include a copy of the initial complaint filed, the order resulting from the hearing, and any other relevant legal documents.

(1) Within thirty (30) days after the producer enters a plea with the court, a producer shall report to the commissioner any criminal prosecution of the producer taken in any jurisdiction.

(2) The report shall include a copy of the initial complaint filed, the order resulting from the hearing, and any other relevant legal documents.

Acts 2001, No. 580, § 1; 2007, No. 330, § 1.
Ark. Code Ann. § 23-39-507 — AR Code / Title 23 / Chapter 39 / Subchapter 5 / Section 23-39-507
Continuing education
Status: in_force

(a) In addition to the other licensing requirements under this subchapter, the Securities Commissioner may adopt rules to require continuing education of licensees under this subchapter for the purpose of enhancing the professional competence and professional responsibility of mortgage bankers, mortgage brokers, mortgage servicers, and loan officers and may condition the renewal of a license upon compliance with the commissioner's rules. (b) The rules under subsection (a) of this section may include criteria for: (1) The content of continuing education courses; (2) Accreditation of continuing education sponsors and programs; (3) Accreditation of videotape or other audiovisual programs; (4) Computation of credit; (5) Special cases and exemptions; (6) General compliance procedures; and (7) Sanctions for noncompliance with the continuing education requirements. (c) Annual continuing professional education requirements shall be determined by the commissioner but shall not exceed eight (8) credit hours within a one-year period. Acts 2003, No. 554, § 1; 2005, No. 1679, § 1.

(a) In addition to the other licensing requirements under this subchapter, the Securities Commissioner may adopt rules to require continuing education of licensees under this subchapter for the purpose of enhancing the professional competence and professional responsibility of mortgage bankers, mortgage brokers, mortgage servicers, and loan officers and may condition the renewal of a license upon compliance with the commissioner's rules.

(b) The rules under subsection (a) of this section may include criteria for: (1) The content of continuing education courses; (2) Accreditation of continuing education sponsors and programs; (3) Accreditation of videotape or other audiovisual programs; (4) Computation of credit; (5) Special cases and exemptions; (6) General compliance procedures; and (7) Sanctions for noncompliance with the continuing education requirements.

(1) The content of continuing education courses;

(2) Accreditation of continuing education sponsors and programs;

(3) Accreditation of videotape or other audiovisual programs;

(4) Computation of credit;

(5) Special cases and exemptions;

(6) General compliance procedures; and

(7) Sanctions for noncompliance with the continuing education requirements.

(c) Annual continuing professional education requirements shall be determined by the commissioner but shall not exceed eight (8) credit hours within a one-year period.

Acts 2003, No. 554, § 1; 2005, No. 1679, § 1.
Ark. Code Ann. § 23-32-201 — AR Code / Title 23 / Chapter 32 / Subchapter 2 / Section 23-32-201
Investment in obligations issued pursuant to Farm Credit Act of 1971
Status: in_force

It shall be lawful for all savings and loan associations and insurance companies doing business in the State of Arkansas and for all trustees, guardians of the estates of minors and insane persons, executors, or administrators to invest their funds in notes, bonds, debentures, or other similar obligations issued by the Federal Land Banks, Federal Intermediate Credit Banks, or banks for cooperatives or any other obligations issued pursuant to the provisions of the Farm Credit Act of 1971 and acts amendatory thereto. Acts 1997, No. 83, § 1.

It shall be lawful for all savings and loan associations and insurance companies doing business in the State of Arkansas and for all trustees, guardians of the estates of minors and insane persons, executors, or administrators to invest their funds in notes, bonds, debentures, or other similar obligations issued by the Federal Land Banks, Federal Intermediate Credit Banks, or banks for cooperatives or any other obligations issued pursuant to the provisions of the Farm Credit Act of 1971 and acts amendatory thereto.

Acts 1997, No. 83, § 1.
Ark. Code Ann. § 23-93-104 — AR Code / Title 23 / Chapter 93 / Subchapter 1 / Section 23-93-104
Violations
Status: in_force

(a) Whenever it appears to the Insurance Commissioner that any person has engaged in, or is about to engage in, any act or practice constituting a violation of any provision of this subchapter or any rule or order under this subchapter, the commissioner may: (1) Issue an order directed at that person requiring that person to cease and desist from engaging in the act or practice; (2) Bring an action in any court which has appropriate jurisdiction to enjoin the acts or practices and to enforce compliance with this subchapter or any of its rules or orders; (3) Issue an order directed at that person to cease and desist from engaging in the act or practice and bring an action in any court which has appropriate jurisdiction to enjoin the acts or practices and to enforce compliance with this subchapter or any of its rules and orders; or (4) Issue an order assessing a monetary penalty of not more than one thousand dollars ($1,000) for each violation against that person. (b) Upon a proper showing, a permanent or temporary injunction, restraining order, or writ of mandamus shall be granted. Acts 1987, No. 329, § 12; 1989, No. 203, § 1.

(a) Whenever it appears to the Insurance Commissioner that any person has engaged in, or is about to engage in, any act or practice constituting a violation of any provision of this subchapter or any rule or order under this subchapter, the commissioner may: (1) Issue an order directed at that person requiring that person to cease and desist from engaging in the act or practice; (2) Bring an action in any court which has appropriate jurisdiction to enjoin the acts or practices and to enforce compliance with this subchapter or any of its rules or orders; (3) Issue an order directed at that person to cease and desist from engaging in the act or practice and bring an action in any court which has appropriate jurisdiction to enjoin the acts or practices and to enforce compliance with this subchapter or any of its rules and orders; or (4) Issue an order assessing a monetary penalty of not more than one thousand dollars ($1,000) for each violation against that person.

(1) Issue an order directed at that person requiring that person to cease and desist from engaging in the act or practice;

(2) Bring an action in any court which has appropriate jurisdiction to enjoin the acts or practices and to enforce compliance with this subchapter or any of its rules or orders;

(3) Issue an order directed at that person to cease and desist from engaging in the act or practice and bring an action in any court which has appropriate jurisdiction to enjoin the acts or practices and to enforce compliance with this subchapter or any of its rules and orders; or

(4) Issue an order assessing a monetary penalty of not more than one thousand dollars ($1,000) for each violation against that person.

(b) Upon a proper showing, a permanent or temporary injunction, restraining order, or writ of mandamus shall be granted.

Acts 1987, No. 329, § 12; 1989, No. 203, § 1.
Ark. Code Ann. § 23-79-607 — AR Code / Title 23 / Chapter 79 / Subchapter 6 / Section 23-79-607
Applicability - Exceptions
Status: in_force

This subchapter shall not apply to: (1) Long-term care plans; (2) Disability income plans; (3) Short-term nonrenewable individual health insurance policies that expire after six (6) months; (4) Medical payments under homeowner or automobile insurance policies; and (5) Workers' compensation insurance. Acts 1997, No. 1249, § 7.

This subchapter shall not apply to:

(1) Long-term care plans;

(2) Disability income plans;

(3) Short-term nonrenewable individual health insurance policies that expire after six (6) months;

(4) Medical payments under homeowner or automobile insurance policies; and

(5) Workers' compensation insurance.

Acts 1997, No. 1249, § 7.
Ark. Code Ann. § 23-86-510 — AR Code / Title 23 / Chapter 86 / Subchapter 5 / Section 23-86-510
Premium rates
Status: in_force

(a) The health insurance purchasing group may determine what rating characteristics it will allow in the health benefit plan, including, but not limited to, age, sex, industry, geography, or health. (b) If health is used as a rating characteristic, then the rates for the size groups two through twenty-five (2-25) will be subject to the small group rating law as required in § 23-86-201 et seq. but may be considered separate from any small groups sold outside the health insurance purchasing group. Acts 2001, No. 925, § 10.

(a) The health insurance purchasing group may determine what rating characteristics it will allow in the health benefit plan, including, but not limited to, age, sex, industry, geography, or health.

(b) If health is used as a rating characteristic, then the rates for the size groups two through twenty-five (2-25) will be subject to the small group rating law as required in § 23-86-201 et seq. but may be considered separate from any small groups sold outside the health insurance purchasing group.

Acts 2001, No. 925, § 10.
Ark. Code Ann. § 23-67-406 — AR Code / Title 23 / Chapter 67 / Subchapter 4 / Section 23-67-406
Dispute resolution and error correction
Status: in_force

(a) If it is determined through the dispute resolution process set forth in section 1681i(a)(5) of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., that the credit information of a current insured was incorrect or incomplete and if the insurer receives written notice of the determination from either the consumer reporting agency or from the insured, the insurer shall reunderwrite and rerate the consumer within thirty (30) calendar days of receiving the notice. (b) After reunderwriting or rerating the insured, the insurer shall make any necessary adjustments consistent with its underwriting and rating guidelines. (c) If an insurer determines that the insured has overpaid a premium, the insurer shall refund to the insured the amount of overpayment. Acts 2003, No. 1452, § 2.

(a) If it is determined through the dispute resolution process set forth in section 1681i(a)(5) of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., that the credit information of a current insured was incorrect or incomplete and if the insurer receives written notice of the determination from either the consumer reporting agency or from the insured, the insurer shall reunderwrite and rerate the consumer within thirty (30) calendar days of receiving the notice.

(b) After reunderwriting or rerating the insured, the insurer shall make any necessary adjustments consistent with its underwriting and rating guidelines.

(c) If an insurer determines that the insured has overpaid a premium, the insurer shall refund to the insured the amount of overpayment.

Acts 2003, No. 1452, § 2.
Ark. Code Ann. § 23-60-101 — AR Code / Title 23 / Chapter 60 / Section 23-60-101
Title
Status: in_force

This code constitutes the Arkansas Insurance Code. Acts 1959, No. 148, § 1; A.S.A. 1947, § 66-2001.

This code constitutes the Arkansas Insurance Code.

Acts 1959, No. 148, § 1; A.S.A. 1947, § 66-2001.
Ark. Code Ann. § 23-63-1507 — AR Code / Title 23 / Chapter 63 / Subchapter 15 / Section 23-63-1507
Hearings
Status: in_force

On the occurrence of the following events the health organization shall have the right to a confidential departmental hearing, on a record, at which the health organization may challenge a determination or action by the Insurance Commissioner. The health organization shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subdivisions (1)-(4) of this section. On receipt of the health organization's request for a hearing, the commissioner shall set a date for the hearing which shall be no less than ten (10) nor more than thirty (30) days after the date of the health organization's request. The events include: (1) The notification to a health organization by the commissioner of an adjusted RBC report; (2) The notification to a health organization by the commissioner that: (A) The health organization's RBC plan or revised RBC plan is unsatisfactory; and (B) The notification constitutes a regulatory action level event with respect to the health organization; (3) The notification to a health organization by the commissioner that the health organization has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event with respect to the health organization according to its RBC plan or revised RBC plan; or (4) The notification to a health organization by the commissioner of a corrective order with respect to the health organization. Acts 1999, No. 580, § 7; 2011, No. 760, § 5.

On the occurrence of the following events the health organization shall have the right to a confidential departmental hearing, on a record, at which the health organization may challenge a determination or action by the Insurance Commissioner. The health organization shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subdivisions (1)-(4) of this section. On receipt of the health organization's request for a hearing, the commissioner shall set a date for the hearing which shall be no less than ten (10) nor more than thirty (30) days after the date of the health organization's request. The events include:

(1) The notification to a health organization by the commissioner of an adjusted RBC report;

(2) The notification to a health organization by the commissioner that: (A) The health organization's RBC plan or revised RBC plan is unsatisfactory; and (B) The notification constitutes a regulatory action level event with respect to the health organization;

(A) The health organization's RBC plan or revised RBC plan is unsatisfactory; and

(B) The notification constitutes a regulatory action level event with respect to the health organization;

(3) The notification to a health organization by the commissioner that the health organization has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event with respect to the health organization according to its RBC plan or revised RBC plan; or

(4) The notification to a health organization by the commissioner of a corrective order with respect to the health organization.

Acts 1999, No. 580, § 7; 2011, No. 760, § 5.
Ark. Code Ann. § 23-99-1129 — AR Code / Title 23 / Chapter 99 / Subchapter 11 / Section 23-99-1129
Appeals process for disallowance of prior authorization
Status: in_force

(a) If the Arkansas State Board of Pharmacy and the Arkansas State Medical Board, jointly, disallow a prior authorization of a prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service requested under § 23-99-1128 , a healthcare insurer, pharmacy benefits manager, or other interested party may file an appeal to the State Insurance Department within ninety (90) days of the disallowance of the prior authorization. (b) No later than the thirtieth day after the date a healthcare insurer, pharmacy benefits manager, or other interested party files an appeal under subsection (a) of this section, the Insurance Commissioner shall appoint an independent review organization to review the appeal. (c) A healthcare insurer, pharmacy benefits manager, or other interested party that files an appeal under subsection (a) of this section shall pay for the independent review organization appointed under subsection (b) of this section to review the appeal. (d) A healthcare insurer, pharmacy benefits manager, or other interested party is bound by the independent review organization's determination of the appeal under this section. Added by Act 2023, No. 575,§ 5, eff. 8/1/2023.

(a) If the Arkansas State Board of Pharmacy and the Arkansas State Medical Board, jointly, disallow a prior authorization of a prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service requested under § 23-99-1128 , a healthcare insurer, pharmacy benefits manager, or other interested party may file an appeal to the State Insurance Department within ninety (90) days of the disallowance of the prior authorization.

(b) No later than the thirtieth day after the date a healthcare insurer, pharmacy benefits manager, or other interested party files an appeal under subsection (a) of this section, the Insurance Commissioner shall appoint an independent review organization to review the appeal.

(c) A healthcare insurer, pharmacy benefits manager, or other interested party that files an appeal under subsection (a) of this section shall pay for the independent review organization appointed under subsection (b) of this section to review the appeal.

(d) A healthcare insurer, pharmacy benefits manager, or other interested party is bound by the independent review organization's determination of the appeal under this section.

Added by Act 2023, No. 575,§ 5, eff. 8/1/2023.
Ark. Code Ann. § 23-99-1305 — AR Code / Title 23 / Chapter 99 / Subchapter 13 / Section 23-99-1305
Rules
Status: in_force

The Insurance Commissioner shall promulgate rules necessary to ensure compliance with this subchapter. Amended by Act 2023, No. 831,§ 3, eff. 1/1/2024. Added by Act 2019, No. 736,§ 1, eff. 7/24/2019.

The Insurance Commissioner shall promulgate rules necessary to ensure compliance with this subchapter.

Amended by Act 2023, No. 831,§ 3, eff. 1/1/2024.

Added by Act 2019, No. 736,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 23-38-208 — AR Code / Title 23 / Chapter 38 / Subchapter 2 / Section 23-38-208
[Repealed]
Status: repealed

Repealed by Act 2013, No. 1144,§ 4, eff. 8/16/2013. Acts 1933, No. 54, § 2; Pope's Dig., § 1036; A.S.A. 1947, § 67-825.

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

Acts 1933, No. 54, § 2; Pope's Dig., § 1036; A.S.A. 1947, § 67-825.
Ark. Code Ann. § 23-35-503 — AR Code / Title 23 / Chapter 35 / Subchapter 5 / Section 23-35-503
Shares issued in trust
Status: in_force

(a) Shares may be issued in the name of a member in trust for a beneficiary, including a minor, but no beneficiary, unless a member in his or her own right, may be permitted to vote, obtain loans, hold office, or be required to pay an entrance fee. (b) Payment of part or all of the shares issued in trust to the member shall, to the extent of the payment, discharge the liability of the credit union to the member and the beneficiary, and the credit union shall be under no obligation to see the application of the payment. (c) In the event of the death of the member, and if shares are so issued or held and the credit union has been given no other written evidence of the existence or terms of any trust, the shares and any dividends or interest thereon shall be paid to the beneficiary. Acts 1971, No. 132, § 23; A.S.A. 1947, § 67-923.

(a) Shares may be issued in the name of a member in trust for a beneficiary, including a minor, but no beneficiary, unless a member in his or her own right, may be permitted to vote, obtain loans, hold office, or be required to pay an entrance fee.

(b) Payment of part or all of the shares issued in trust to the member shall, to the extent of the payment, discharge the liability of the credit union to the member and the beneficiary, and the credit union shall be under no obligation to see the application of the payment.

(c) In the event of the death of the member, and if shares are so issued or held and the credit union has been given no other written evidence of the existence or terms of any trust, the shares and any dividends or interest thereon shall be paid to the beneficiary.

Acts 1971, No. 132, § 23; A.S.A. 1947, § 67-923.
Ark. Code Ann. § 23-79-1403 — AR Code / Title 23 / Chapter 79 / Subchapter 14 / Section 23-79-1403
Rules
Status: in_force

The State Insurance Department shall develop and promulgate rules for the implementation and administration of this subchapter. Acts 2009, No. 1179, § 1.

The State Insurance Department shall develop and promulgate rules for the implementation and administration of this subchapter.

Acts 2009, No. 1179, § 1.
Ark. Code Ann. § 23-69-147 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-147
Acquiring and acquired corporations under plan of exchange to be separate
Status: in_force

The domestic stock insurance company acquired under a plan of exchange and the acquiring person are, in all respects, separate and distinct entities with neither entity having any liability to the creditors or policyholders, if any, or shareholders of the other, for any acts or omissions of the officers, directors, shareholders, or representatives of either or both entities. Acts 1971, No. 301, § 6; 1979, No. 942, § 13; A.S.A. 1947, § 66-4248.2.

The domestic stock insurance company acquired under a plan of exchange and the acquiring person are, in all respects, separate and distinct entities with neither entity having any liability to the creditors or policyholders, if any, or shareholders of the other, for any acts or omissions of the officers, directors, shareholders, or representatives of either or both entities.

Acts 1971, No. 301, § 6; 1979, No. 942, § 13; A.S.A. 1947, § 66-4248.2.
Ark. Code Ann. § 23-73-121 — AR Code / Title 23 / Chapter 73 / Section 23-73-121
Licensing of agents
Status: in_force

Agents shall be licensed and issued a limited line license in accordance with § 23-64-101 et seq. Acts 1997, No. 774, § 1.

Agents shall be licensed and issued a limited line license in accordance with § 23-64-101 et seq.

Acts 1997, No. 774, § 1.
Ark. Code Ann. § 23-51-189 — AR Code / Title 23 / Chapter 51 / Section 23-51-189
Notice and opportunity for hearing
Status: in_force

Consistent with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., notice and opportunity for hearing shall be provided before any of the foregoing actions shall be undertaken by the Bank Commissioner. Provided, however, in cases involving extraordinary circumstances requiring immediate action, the commissioner may take such an action, but shall promptly afford a subsequent hearing upon application to rescind the action taken. Acts 1997, No. 940, § 89.

Consistent with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., notice and opportunity for hearing shall be provided before any of the foregoing actions shall be undertaken by the Bank Commissioner. Provided, however, in cases involving extraordinary circumstances requiring immediate action, the commissioner may take such an action, but shall promptly afford a subsequent hearing upon application to rescind the action taken.

Acts 1997, No. 940, § 89.
Ark. Code Ann. § 23-79-165 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-165
Coverage for hepatitis C screening during pregnancy
Status: in_force

(a) A health benefit plan that is offered, issued, or renewed in this state shall provide coverage for screening for hepatitis C during pregnancy by a healthcare professional on or after January 1, 2022. (b) The coverage for screening for hepatitis C during pregnancy under this section: (1) Is not subject to policy deductibles or copayment requirements; and (2) Does not diminish or limit benefits otherwise allowable under a health benefit plan. (c) Coverage provided for screening under subsection (a) of this section for a government self-insured plan is subject to any health benefit plan provisions that apply to other services covered by the health benefit plan. Added by Act 2021, No. 598,§ 3, eff. 7/28/2021.

(a) A health benefit plan that is offered, issued, or renewed in this state shall provide coverage for screening for hepatitis C during pregnancy by a healthcare professional on or after January 1, 2022.

(b) The coverage for screening for hepatitis C during pregnancy under this section: (1) Is not subject to policy deductibles or copayment requirements; and (2) Does not diminish or limit benefits otherwise allowable under a health benefit plan.

(1) Is not subject to policy deductibles or copayment requirements; and

(2) Does not diminish or limit benefits otherwise allowable under a health benefit plan.

(c) Coverage provided for screening under subsection (a) of this section for a government self-insured plan is subject to any health benefit plan provisions that apply to other services covered by the health benefit plan.

Added by Act 2021, No. 598,§ 3, eff. 7/28/2021.
Ark. Code Ann. § 23-47-701 — AR Code / Title 23 / Chapter 47 / Subchapter 7 / Section 23-47-701
Authority of Bank Commissioner
Status: in_force

The Bank Commissioner shall be authorized and empowered to grant to state banks applying therefor the right to operate a trust department to act as trustee, executor, administrator, custodian, registrar, paying agent or transfer agent of stocks and bonds, guardian of estates, assignee, or receiver or to act in any other fiduciary capacity in which national banks, subsidiary trust companies, national trust companies, or other corporations which come into competition with state banks are permitted to act. Acts 1997, No. 89, § 1.

The Bank Commissioner shall be authorized and empowered to grant to state banks applying therefor the right to operate a trust department to act as trustee, executor, administrator, custodian, registrar, paying agent or transfer agent of stocks and bonds, guardian of estates, assignee, or receiver or to act in any other fiduciary capacity in which national banks, subsidiary trust companies, national trust companies, or other corporations which come into competition with state banks are permitted to act.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-4-704 — AR Code / Title 23 / Chapter 4 / Subchapter 7 / Section 23-4-704
Remedies cumulative
Status: in_force

The remedies given by this act shall be regarded as cumulative. This act shall not be construed as repealing any statute giving such remedies. Acts 1899, No. 53, § 30, p. 82; A.S.A. 1947, § 73-1526.

The remedies given by this act shall be regarded as cumulative. This act shall not be construed as repealing any statute giving such remedies.

Acts 1899, No. 53, § 30, p. 82; A.S.A. 1947, § 73-1526.
Ark. Code Ann. § 23-18-1205 — AR Code / Title 23 / Chapter 18 / Subchapter 12 / Section 23-18-1205
Rural Broadband I.D. Expenses Trust Fund Grant Program - Investment of funds
Status: in_force

(a) (1) The Treasurer of State shall invest the moneys available in the Rural Broadband I.D. Expenses Trust Fund. (2) The investment of funds under this section is exempt from § 19-3-518(a)(2)(B)(i) (b) and (c) . (b) Moneys in the Rural Broadband I.D. Expenses Trust Fund may be invested in any instrument that is: (1) Listed in § 19-3-518(b)(1)(B) ; and (2) Approved under the guidelines established by the State Treasury investment policy approved by the State Board of Finance. (c) Assuming reauthorization of the Rural Broadband I.D. Expenses Trust Fund by the General Assembly, moneys remaining in the Rural Broadband I.D. Expenses Trust Fund at the end of each fiscal year shall carry forward and be made available for the purposes stated in this section in the next fiscal year. Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.

(a) (1) The Treasurer of State shall invest the moneys available in the Rural Broadband I.D. Expenses Trust Fund. (2) The investment of funds under this section is exempt from § 19-3-518(a)(2)(B)(i) (b) and (c) .

(1) The Treasurer of State shall invest the moneys available in the Rural Broadband I.D. Expenses Trust Fund.

(2) The investment of funds under this section is exempt from § 19-3-518(a)(2)(B)(i) (b) and (c) .

(b) Moneys in the Rural Broadband I.D. Expenses Trust Fund may be invested in any instrument that is: (1) Listed in § 19-3-518(b)(1)(B) ; and (2) Approved under the guidelines established by the State Treasury investment policy approved by the State Board of Finance.

(1) Listed in § 19-3-518(b)(1)(B) ; and

(2) Approved under the guidelines established by the State Treasury investment policy approved by the State Board of Finance.

(c) Assuming reauthorization of the Rural Broadband I.D. Expenses Trust Fund by the General Assembly, moneys remaining in the Rural Broadband I.D. Expenses Trust Fund at the end of each fiscal year shall carry forward and be made available for the purposes stated in this section in the next fiscal year.

Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.
Ark. Code Ann. § 23-71-107 — AR Code / Title 23 / Chapter 71 / Section 23-71-107
Articles of incorporation and capital stock
Status: in_force

The articles of incorporation and paid-up capital stock of a stipulated premium plan insurer shall be the same as required of it under laws in force immediately prior to January 1, 1960. Acts 1959, No. 148, § 543; A.S.A. 1947, § 66-4404.

The articles of incorporation and paid-up capital stock of a stipulated premium plan insurer shall be the same as required of it under laws in force immediately prior to January 1, 1960.

Acts 1959, No. 148, § 543; A.S.A. 1947, § 66-4404.
Ark. Code Ann. § 23-99-208 — AR Code / Title 23 / Chapter 99 / Subchapter 2 / Section 23-99-208
Void provisions
Status: in_force

(a) To avoid impairment of existing contracts, this subchapter shall only apply to contracts issued or renewed after July 28, 1995. (b) Any provision in a health benefit plan which is executed, delivered, or renewed, or otherwise contracts for provision of services in this state that is contrary to this subchapter, shall, to the extent of the conflict, be void. Acts 1995, No. 505, § 7; 1995, No. 1193, § 4.

(a) To avoid impairment of existing contracts, this subchapter shall only apply to contracts issued or renewed after July 28, 1995.

(b) Any provision in a health benefit plan which is executed, delivered, or renewed, or otherwise contracts for provision of services in this state that is contrary to this subchapter, shall, to the extent of the conflict, be void.

Acts 1995, No. 505, § 7; 1995, No. 1193, § 4.
Ark. Code Ann. § 23-111-103 — AR Code / Title 23 / Chapter 111 / Subchapter 1 / Section 23-111-103
Inconsistent statutes inapplicable
Status: in_force

All other acts and parts of acts inconsistent with any of the provisions of this chapter are expressly declared not to apply to any person, partnership, group, association, trust, or corporation engaged or participating in racing or making or contributing to the pari-mutuel or certificate method of wagering in manner and form as provided for by this chapter at any race meeting held or conducted by any franchise holder having a license for the holding or conducting of the race meetings as provided by this chapter. Acts 1957, No. 191, § 26; A.S.A. 1947, § 84-2841.

All other acts and parts of acts inconsistent with any of the provisions of this chapter are expressly declared not to apply to any person, partnership, group, association, trust, or corporation engaged or participating in racing or making or contributing to the pari-mutuel or certificate method of wagering in manner and form as provided for by this chapter at any race meeting held or conducted by any franchise holder having a license for the holding or conducting of the race meetings as provided by this chapter.

Acts 1957, No. 191, § 26; A.S.A. 1947, § 84-2841.
Ark. Code Ann. § 23-32-401 — AR Code / Title 23 / Chapter 32 / Subchapter 4 / Section 23-32-401
Definition
Status: in_force

As used in this subchapter, unless the context otherwise requires, "investor companies" means all banks, mutual savings associations, mutual savings banks, mutual savings fund societies, trust funds, foundations, pension trusts, or lending agencies, all the capital stock of which is owned by one (1) or more mutual savings banks or mutual savings fund societies. Acts 1997, No. 88, § 1.

As used in this subchapter, unless the context otherwise requires, "investor companies" means all banks, mutual savings associations, mutual savings banks, mutual savings fund societies, trust funds, foundations, pension trusts, or lending agencies, all the capital stock of which is owned by one (1) or more mutual savings banks or mutual savings fund societies.

Acts 1997, No. 88, § 1.
Ark. Code Ann. § 23-63-1801 — AR Code / Title 23 / Chapter 63 / Subchapter 18 / Section 23-63-1801
Definitions
Status: in_force

As used in this subchapter: (1) "Covered person" means a person on whose behalf a healthcare insurer offering health insurance coverage is obligated to pay benefits or provide services; (2) "Healthcare insurer" means an entity subject to the insurance laws of this state or the jurisdiction of the Insurance Commissioner that contracts or offers to contract to provide health insurance coverage, including, but not limited to, an insurance company, a health maintenance organization, or a hospital medical service corporation; (3) "Healthcare provider" means any person or entity providing: (A) Medical, pharmaceutical, optometric, or dental care; (B) Hospitalization; or (C) Any other services and goods used for the purpose or incidental to the purpose of preventing, alleviating, curing, or healing human illness or injury; (4) (A) "Health insurance coverage" means benefits consisting of medical, pharmaceutical, optometric, or dental care, hospitalization, or other goods or services for the purpose of preventing, alleviating, curing, or healing human illness provided, directly or indirectly, through insurance, reimbursement, or otherwise, including items and services paid for under any policy, certificate, or agreement offered by a healthcare insurer. (B) "Health insurance coverage" does not include policies or certificates covering only accident, credit, disability income, long-term care, hospital indemnity, Medicare supplemental policy as defined in 42 U.S.C. § 1395ss(g)(1) , a specified disease, other limited benefit health insurance, automobile medical payment insurance, or claims under the Workers' Compensation Law, § 11-9-101 et seq., Public Employee Workers' Compensation Act, § 21-5-601 et seq., or the Comprehensive Health Insurance Pool Act, § 23-79-501 et seq.; and (5) "Recoupment" means any action or attempt by a healthcare insurer to recover or collect payments already made to a healthcare provider with respect to a claim: (A) By reducing other payments currently owed to the healthcare provider; (B) By withholding or setting off the amount against current or future payments to the healthcare provider; (C) By demanding payment back from a healthcare provider for a claim already paid; or (D) By any other manner that reduces or affects the future claim payments to the healthcare provider. Amended by Act 2019, No. 940,§ 2, eff. 7/24/2019. Amended by Act 2019, No. 940,§ 1, eff. 7/24/2019. Acts 2005, No. 422, § 1.

As used in this subchapter:

(1) "Covered person" means a person on whose behalf a healthcare insurer offering health insurance coverage is obligated to pay benefits or provide services;

(2) "Healthcare insurer" means an entity subject to the insurance laws of this state or the jurisdiction of the Insurance Commissioner that contracts or offers to contract to provide health insurance coverage, including, but not limited to, an insurance company, a health maintenance organization, or a hospital medical service corporation;

(3) "Healthcare provider" means any person or entity providing: (A) Medical, pharmaceutical, optometric, or dental care; (B) Hospitalization; or (C) Any other services and goods used for the purpose or incidental to the purpose of preventing, alleviating, curing, or healing human illness or injury;

(A) Medical, pharmaceutical, optometric, or dental care;

(B) Hospitalization; or

(C) Any other services and goods used for the purpose or incidental to the purpose of preventing, alleviating, curing, or healing human illness or injury;

(4) (A) "Health insurance coverage" means benefits consisting of medical, pharmaceutical, optometric, or dental care, hospitalization, or other goods or services for the purpose of preventing, alleviating, curing, or healing human illness provided, directly or indirectly, through insurance, reimbursement, or otherwise, including items and services paid for under any policy, certificate, or agreement offered by a healthcare insurer. (B) "Health insurance coverage" does not include policies or certificates covering only accident, credit, disability income, long-term care, hospital indemnity, Medicare supplemental policy as defined in 42 U.S.C. § 1395ss(g)(1) , a specified disease, other limited benefit health insurance, automobile medical payment insurance, or claims under the Workers' Compensation Law, § 11-9-101 et seq., Public Employee Workers' Compensation Act, § 21-5-601 et seq., or the Comprehensive Health Insurance Pool Act, § 23-79-501 et seq.; and

(A) "Health insurance coverage" means benefits consisting of medical, pharmaceutical, optometric, or dental care, hospitalization, or other goods or services for the purpose of preventing, alleviating, curing, or healing human illness provided, directly or indirectly, through insurance, reimbursement, or otherwise, including items and services paid for under any policy, certificate, or agreement offered by a healthcare insurer.

(B) "Health insurance coverage" does not include policies or certificates covering only accident, credit, disability income, long-term care, hospital indemnity, Medicare supplemental policy as defined in 42 U.S.C. § 1395ss(g)(1) , a specified disease, other limited benefit health insurance, automobile medical payment insurance, or claims under the Workers' Compensation Law, § 11-9-101 et seq., Public Employee Workers' Compensation Act, § 21-5-601 et seq., or the Comprehensive Health Insurance Pool Act, § 23-79-501 et seq.; and

(5) "Recoupment" means any action or attempt by a healthcare insurer to recover or collect payments already made to a healthcare provider with respect to a claim: (A) By reducing other payments currently owed to the healthcare provider; (B) By withholding or setting off the amount against current or future payments to the healthcare provider; (C) By demanding payment back from a healthcare provider for a claim already paid; or (D) By any other manner that reduces or affects the future claim payments to the healthcare provider.

(A) By reducing other payments currently owed to the healthcare provider;

(B) By withholding or setting off the amount against current or future payments to the healthcare provider;

(C) By demanding payment back from a healthcare provider for a claim already paid; or

(D) By any other manner that reduces or affects the future claim payments to the healthcare provider.

Amended by Act 2019, No. 940,§ 2, eff. 7/24/2019.

Amended by Act 2019, No. 940,§ 1, eff. 7/24/2019.

Acts 2005, No. 422, § 1.
Ark. Code Ann. § 23-79-1002 — AR Code / Title 23 / Chapter 79 / Subchapter 10 / Section 23-79-1002
Medicaid demonstration initiative
Status: in_force

(a) Subject to obtaining all necessary federal approvals, including approval of a demonstration waiver under section 1115 of the Social Security Act as in effect January 1, 2003, the Department of Human Services may administer the Health Insurance Flexibility and Accountability demonstration initiative created in § 23-79-1004 . (b) Coverage may include certain spouses of covered employed individuals. Acts 2003, No. 1044, § 1.

(a) Subject to obtaining all necessary federal approvals, including approval of a demonstration waiver under section 1115 of the Social Security Act as in effect January 1, 2003, the Department of Human Services may administer the Health Insurance Flexibility and Accountability demonstration initiative created in § 23-79-1004 .

(b) Coverage may include certain spouses of covered employed individuals.

Acts 2003, No. 1044, § 1.
Ark. Code Ann. § 23-66-605 — AR Code / Title 23 / Chapter 66 / Subchapter 6 / Section 23-66-605
Insurance in connection with loan
Status: in_force

(a) The following shall apply when insurance is required as a condition of obtaining a loan or extension of credit: (1) (A) No person, depository institution, or affiliate of a depository institution may require as a condition precedent to the lending of money or extension of credit, or any renewal thereof, that the person to whom the money or credit is extended or whose obligation a creditor is to acquire or finance, negotiate any policy or renewal thereof through a particular insurer or group of insurers or agent or broker or group of agents or brokers. (B) Further, no person, depository institution, or affiliate of a depository institution may reject an insurance policy solely because the policy has been issued or underwritten by a person who is not associated with the depository institution or affiliate when insurance is required in connection with a loan or extension of credit; (2) The loan or extension of credit and related insurance transactions shall be completed through separate documentation; and (3) A loan for premiums on required insurance, other than a loan for credit insurance premiums or flood insurance premiums, shall not be included in the primary credit without the written consent of the customer. (b) (1) (A) As a condition for extending credit or offering any product or service that is equivalent to an extension of credit, no person, depository institution, or affiliate of a depository institution may require that a customer obtain insurance from a depository institution, an affiliate of a depository institution, or a particular insurer or producer. (B) Nothing in this subchapter or § 23-60-101 et seq., shall be construed to prohibit depository institution or affiliate of a depository institution personnel from informing customers that insurance is required in order to obtain a loan or extension of credit or that loan or extension of credit approval is contingent upon the customers' obtaining acceptable insurance. (2) Depository institution or affiliate of a depository institution personnel may also inform customers that insurance is available from the depository institution, an affiliate of a depository institution, or particular unaffiliated third parties, and indicate how to obtain additional information. Acts 1997, No. 900, § 4; 2001, No. 1728, § 3; 2003, No. 1747, § 11.

(a) The following shall apply when insurance is required as a condition of obtaining a loan or extension of credit: (1) (A) No person, depository institution, or affiliate of a depository institution may require as a condition precedent to the lending of money or extension of credit, or any renewal thereof, that the person to whom the money or credit is extended or whose obligation a creditor is to acquire or finance, negotiate any policy or renewal thereof through a particular insurer or group of insurers or agent or broker or group of agents or brokers. (B) Further, no person, depository institution, or affiliate of a depository institution may reject an insurance policy solely because the policy has been issued or underwritten by a person who is not associated with the depository institution or affiliate when insurance is required in connection with a loan or extension of credit; (2) The loan or extension of credit and related insurance transactions shall be completed through separate documentation; and (3) A loan for premiums on required insurance, other than a loan for credit insurance premiums or flood insurance premiums, shall not be included in the primary credit without the written consent of the customer.

(1) (A) No person, depository institution, or affiliate of a depository institution may require as a condition precedent to the lending of money or extension of credit, or any renewal thereof, that the person to whom the money or credit is extended or whose obligation a creditor is to acquire or finance, negotiate any policy or renewal thereof through a particular insurer or group of insurers or agent or broker or group of agents or brokers. (B) Further, no person, depository institution, or affiliate of a depository institution may reject an insurance policy solely because the policy has been issued or underwritten by a person who is not associated with the depository institution or affiliate when insurance is required in connection with a loan or extension of credit;

(A) No person, depository institution, or affiliate of a depository institution may require as a condition precedent to the lending of money or extension of credit, or any renewal thereof, that the person to whom the money or credit is extended or whose obligation a creditor is to acquire or finance, negotiate any policy or renewal thereof through a particular insurer or group of insurers or agent or broker or group of agents or brokers.

(B) Further, no person, depository institution, or affiliate of a depository institution may reject an insurance policy solely because the policy has been issued or underwritten by a person who is not associated with the depository institution or affiliate when insurance is required in connection with a loan or extension of credit;

(2) The loan or extension of credit and related insurance transactions shall be completed through separate documentation; and

(3) A loan for premiums on required insurance, other than a loan for credit insurance premiums or flood insurance premiums, shall not be included in the primary credit without the written consent of the customer.

(b) (1) (A) As a condition for extending credit or offering any product or service that is equivalent to an extension of credit, no person, depository institution, or affiliate of a depository institution may require that a customer obtain insurance from a depository institution, an affiliate of a depository institution, or a particular insurer or producer. (B) Nothing in this subchapter or § 23-60-101 et seq., shall be construed to prohibit depository institution or affiliate of a depository institution personnel from informing customers that insurance is required in order to obtain a loan or extension of credit or that loan or extension of credit approval is contingent upon the customers' obtaining acceptable insurance. (2) Depository institution or affiliate of a depository institution personnel may also inform customers that insurance is available from the depository institution, an affiliate of a depository institution, or particular unaffiliated third parties, and indicate how to obtain additional information.

(1) (A) As a condition for extending credit or offering any product or service that is equivalent to an extension of credit, no person, depository institution, or affiliate of a depository institution may require that a customer obtain insurance from a depository institution, an affiliate of a depository institution, or a particular insurer or producer. (B) Nothing in this subchapter or § 23-60-101 et seq., shall be construed to prohibit depository institution or affiliate of a depository institution personnel from informing customers that insurance is required in order to obtain a loan or extension of credit or that loan or extension of credit approval is contingent upon the customers' obtaining acceptable insurance.

(A) As a condition for extending credit or offering any product or service that is equivalent to an extension of credit, no person, depository institution, or affiliate of a depository institution may require that a customer obtain insurance from a depository institution, an affiliate of a depository institution, or a particular insurer or producer.

(B) Nothing in this subchapter or § 23-60-101 et seq., shall be construed to prohibit depository institution or affiliate of a depository institution personnel from informing customers that insurance is required in order to obtain a loan or extension of credit or that loan or extension of credit approval is contingent upon the customers' obtaining acceptable insurance.

(2) Depository institution or affiliate of a depository institution personnel may also inform customers that insurance is available from the depository institution, an affiliate of a depository institution, or particular unaffiliated third parties, and indicate how to obtain additional information.

Acts 1997, No. 900, § 4; 2001, No. 1728, § 3; 2003, No. 1747, § 11.
Ark. Code Ann. § 23-65-403 — AR Code / Title 23 / Chapter 65 / Subchapter 4 / Section 23-65-403
Committees' approval of agreements or compacts required
Status: in_force

A multistate agreement or compact entered into by the Insurance Commissioner shall be: (1) Considered by the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce; and (2) Reviewed and approved by the Legislative Council. Amended by Act 2015, No. 1258,§ 19, eff. 7/22/2015. Acts 2011, No. 1055, § 3.

A multistate agreement or compact entered into by the Insurance Commissioner shall be:

(1) Considered by the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce; and

(2) Reviewed and approved by the Legislative Council.

Amended by Act 2015, No. 1258,§ 19, eff. 7/22/2015.

Acts 2011, No. 1055, § 3.
Ark. Code Ann. § 23-18-605 — AR Code / Title 23 / Chapter 18 / Subchapter 6 / Section 23-18-605
Municipal utilities
Status: in_force

(a) A municipal utility shall allow net-metering facilities to be interconnected according to the ordinances, rules, or regulations established by the governing body of the municipal utility. (b) The governing body of a municipal utility may elect to follow procedures under § 23-18-604 , § 23-18-606 , or § 23-18-607 or may adopt ordinances, rules, or regulations establishing the rates, terms, and conditions allowing the interconnection of net-metering facilities, including generation facilities and energy storage devices, whether owned or leased by a customer or operated by a third party on behalf of a customer. (c) The governing body of a municipal utility may limit the generating capacity of a net-metering facility to less than twenty-five kilowatts (25 kW) for residential customers or three hundred kilowatts (300 kW) for nonresidential customers only after the governing body finds that the capacity limit is necessary for reliable utility operations or the public health, safety, or welfare. (d) The governing body of a municipal utility shall not establish a rate or fee that reduces the value of electric energy from a net-metering facility to below the avoided cost of the municipal utility. (e) For customers who receive service under a rate that includes a demand component, the governing body of the municipal utility shall require a municipal utility to credit a net-metering customer with any accumulated net excess generation in the next applicable billing period and base the bill of the customer on the net amount of electricity that the net-metering customer has received from or fed back to the municipal utility during the billing period. Amended by Act 2023, No. 278,§ 1, eff. 3/13/2023. Added by Act 2019, No. 464,§ 3, eff. 7/24/2019.

(a) A municipal utility shall allow net-metering facilities to be interconnected according to the ordinances, rules, or regulations established by the governing body of the municipal utility.

(b) The governing body of a municipal utility may elect to follow procedures under § 23-18-604 , § 23-18-606 , or § 23-18-607 or may adopt ordinances, rules, or regulations establishing the rates, terms, and conditions allowing the interconnection of net-metering facilities, including generation facilities and energy storage devices, whether owned or leased by a customer or operated by a third party on behalf of a customer.

(c) The governing body of a municipal utility may limit the generating capacity of a net-metering facility to less than twenty-five kilowatts (25 kW) for residential customers or three hundred kilowatts (300 kW) for nonresidential customers only after the governing body finds that the capacity limit is necessary for reliable utility operations or the public health, safety, or welfare.

(d) The governing body of a municipal utility shall not establish a rate or fee that reduces the value of electric energy from a net-metering facility to below the avoided cost of the municipal utility.

(e) For customers who receive service under a rate that includes a demand component, the governing body of the municipal utility shall require a municipal utility to credit a net-metering customer with any accumulated net excess generation in the next applicable billing period and base the bill of the customer on the net amount of electricity that the net-metering customer has received from or fed back to the municipal utility during the billing period.

Amended by Act 2023, No. 278,§ 1, eff. 3/13/2023.

Added by Act 2019, No. 464,§ 3, eff. 7/24/2019.
Ark. Code Ann. § 23-17-232 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-232
Recordation of mortgages - Effect thereof
Status: in_force

(a) Any mortgage, deed of trust, or other instrument executed by a cooperative which affects real and personal property and which is recorded in the real property records in any county in which the property is located or is to be located shall have the same force and effect as if the mortgage, deed of trust, or other instrument were also recorded, filed, or indexed, as provided by law in the proper office in the county, as a mortgage of personal property. (b) (1) All after-acquired property of the cooperative described or referred to as being mortgaged or pledged in any mortgage, deed of trust, or other instrument shall become subject to the lien thereof immediately upon the acquisition of the property by the cooperative, whether or not the property was in existence at the time of the execution of the mortgage, deed of trust, or other instrument. (2) The recordation of such mortgage, deed of trust, or other instrument shall constitute notice and otherwise have the same effect with respect to the after-acquired property as it has under the laws relating to recordation, with respect to property owned by the cooperative at the time of the execution of the mortgage, deed of trust, or other instrument and therein described or referred to as being mortgaged or pledged thereby. (c) The lien upon personal property of any mortgage, deed of trust, or other instrument after recordation thereof shall continue in existence and of record for the period of time specified therein without the refiling thereof, or the filing of any renewal certificate, affidavit, or other supplemental information required by the laws relating to the renewal, maintenance, or extension of liens upon personal property. Acts 1997, No. 917, § 1.

(a) Any mortgage, deed of trust, or other instrument executed by a cooperative which affects real and personal property and which is recorded in the real property records in any county in which the property is located or is to be located shall have the same force and effect as if the mortgage, deed of trust, or other instrument were also recorded, filed, or indexed, as provided by law in the proper office in the county, as a mortgage of personal property.

(b) (1) All after-acquired property of the cooperative described or referred to as being mortgaged or pledged in any mortgage, deed of trust, or other instrument shall become subject to the lien thereof immediately upon the acquisition of the property by the cooperative, whether or not the property was in existence at the time of the execution of the mortgage, deed of trust, or other instrument. (2) The recordation of such mortgage, deed of trust, or other instrument shall constitute notice and otherwise have the same effect with respect to the after-acquired property as it has under the laws relating to recordation, with respect to property owned by the cooperative at the time of the execution of the mortgage, deed of trust, or other instrument and therein described or referred to as being mortgaged or pledged thereby.

(1) All after-acquired property of the cooperative described or referred to as being mortgaged or pledged in any mortgage, deed of trust, or other instrument shall become subject to the lien thereof immediately upon the acquisition of the property by the cooperative, whether or not the property was in existence at the time of the execution of the mortgage, deed of trust, or other instrument.

(2) The recordation of such mortgage, deed of trust, or other instrument shall constitute notice and otherwise have the same effect with respect to the after-acquired property as it has under the laws relating to recordation, with respect to property owned by the cooperative at the time of the execution of the mortgage, deed of trust, or other instrument and therein described or referred to as being mortgaged or pledged thereby.

(c) The lien upon personal property of any mortgage, deed of trust, or other instrument after recordation thereof shall continue in existence and of record for the period of time specified therein without the refiling thereof, or the filing of any renewal certificate, affidavit, or other supplemental information required by the laws relating to the renewal, maintenance, or extension of liens upon personal property.

Acts 1997, No. 917, § 1.
Ark. Code Ann. § 23-18-802 — AR Code / Title 23 / Chapter 18 / Subchapter 8 / Section 23-18-802
Definitions
Status: in_force

As used in this subchapter and §§ 14-200-101 , 18-15-503 , 18-15-504 , and 18-15-507 : (1) "Broadband affiliate" or "affiliate" means an entity that is at least ten percent (10%) owned or controlled, directly or indirectly, by the electric utility formed to provide regulated or nonregulated broadband services; (2) "Broadband Internet service provider" means an entity that provides Internet broadband services to others on a wholesale basis or to end-use customers on a retail basis; (3) "Broadband operator" means an entity that owns or operates a broadband system on the electric power lines and related facilities of an electric utility; (4) "Broadband services" means the provision of regulated or nonregulated connectivity to a high-speed, high-capacity transmission medium that can carry signals from multiple independent network carriers over electric power lines and related facilities, whether above or below ground; (5) "Broadband system" means the materials, equipment, and other facilities installed to facilitate the provision of broadband services; (6) "Electric delivery system" means the power lines and related facilities used by an electric utility to deliver electric energy; (7) "Electric utility" means a public utility as defined under § 23-1-101 that produces, generates, transmits, delivers, or furnishes electricity to or for the public for compensation; (8) "Nonregulated broadband services" means broadband services and technologies that are not provided for the operational performance of an electric utility, including without limitation, the provision of broadband services at wholesale or at retail; and (9) "Regulated broadband services" means broadband services and technologies that are used and useful for the operational performance and service reliability of an electric utility, including without limitation: (A) Automated meter reading; (B) Real-time system monitoring; (C) Remote service control; (D) Outage detection and restoration; (E) Predictive maintenance and diagnostics; and (F) Monitoring and enhancement of power quality. Acts 2007, No. 739, § 1.

As used in this subchapter and §§ 14-200-101 , 18-15-503 , 18-15-504 , and 18-15-507 :

(1) "Broadband affiliate" or "affiliate" means an entity that is at least ten percent (10%) owned or controlled, directly or indirectly, by the electric utility formed to provide regulated or nonregulated broadband services;

(2) "Broadband Internet service provider" means an entity that provides Internet broadband services to others on a wholesale basis or to end-use customers on a retail basis;

(3) "Broadband operator" means an entity that owns or operates a broadband system on the electric power lines and related facilities of an electric utility;

(4) "Broadband services" means the provision of regulated or nonregulated connectivity to a high-speed, high-capacity transmission medium that can carry signals from multiple independent network carriers over electric power lines and related facilities, whether above or below ground;

(5) "Broadband system" means the materials, equipment, and other facilities installed to facilitate the provision of broadband services;

(6) "Electric delivery system" means the power lines and related facilities used by an electric utility to deliver electric energy;

(7) "Electric utility" means a public utility as defined under § 23-1-101 that produces, generates, transmits, delivers, or furnishes electricity to or for the public for compensation;

(8) "Nonregulated broadband services" means broadband services and technologies that are not provided for the operational performance of an electric utility, including without limitation, the provision of broadband services at wholesale or at retail; and

(9) "Regulated broadband services" means broadband services and technologies that are used and useful for the operational performance and service reliability of an electric utility, including without limitation: (A) Automated meter reading; (B) Real-time system monitoring; (C) Remote service control; (D) Outage detection and restoration; (E) Predictive maintenance and diagnostics; and (F) Monitoring and enhancement of power quality.

(A) Automated meter reading;

(B) Real-time system monitoring;

(C) Remote service control;

(D) Outage detection and restoration;

(E) Predictive maintenance and diagnostics; and

(F) Monitoring and enhancement of power quality.

Acts 2007, No. 739, § 1.
Ark. Code Ann. § 23-12-205 — AR Code / Title 23 / Chapter 12 / Subchapter 2 / Section 23-12-205
Sale of certain abandoned rights-of-way to municipalities
Status: in_force

(a) The term "abandons" as used in this section shall not include the nonuse of rights-of-way of a railroad that is presently inactive as a result of the insolvency of the railroad company if there are on-going efforts by either the railroad company or any governmental unit or civic organization to rehabilitate the railroad for the purpose of reestablishing rail service in the area. (b) (1) When a railroad abandons a right-of-way which was acquired by eminent domain, and where there is a municipally owned natural gas pipeline buried thereon or there is a municipally owned natural gas pipeline buried on that railroad's right-of-way at a point within ten (10) miles of the abandoned right-of-way, the railroad shall offer to sell the abandoned right-of-way to the municipality at the fair market value of the right-of-way. (2) If the municipality wishes to purchase the right-of-way, the municipality shall so notify the appropriate railroad representative and the railroad shall, within sixty (60) days after being so notified, establish the fair market value of the right-of-way and offer to sell it to the municipality. (3) If the railroad fails to do so, the municipality may petition the circuit court for the appointment of three (3) appraisers to establish the fair market value of the right-of-way and for an order directing the railroad to offer to sell the right-of-way to the municipality for the fair market value established by the appraisers. (c) An offer by a railroad to sell rights-of-way for the fair market value shall constitute a continuing offer granting the municipality the first right of refusal, and, in instances where a third party makes an offer to the railroad to purchase the abandoned right-of-way, the municipality shall have thirty (30) days from the date of offer by the third party to exercise its right of first refusal. Acts 1985, No. 1002, § 1; A.S.A. 1947, § 73-509.

(a) The term "abandons" as used in this section shall not include the nonuse of rights-of-way of a railroad that is presently inactive as a result of the insolvency of the railroad company if there are on-going efforts by either the railroad company or any governmental unit or civic organization to rehabilitate the railroad for the purpose of reestablishing rail service in the area.

(b) (1) When a railroad abandons a right-of-way which was acquired by eminent domain, and where there is a municipally owned natural gas pipeline buried thereon or there is a municipally owned natural gas pipeline buried on that railroad's right-of-way at a point within ten (10) miles of the abandoned right-of-way, the railroad shall offer to sell the abandoned right-of-way to the municipality at the fair market value of the right-of-way. (2) If the municipality wishes to purchase the right-of-way, the municipality shall so notify the appropriate railroad representative and the railroad shall, within sixty (60) days after being so notified, establish the fair market value of the right-of-way and offer to sell it to the municipality. (3) If the railroad fails to do so, the municipality may petition the circuit court for the appointment of three (3) appraisers to establish the fair market value of the right-of-way and for an order directing the railroad to offer to sell the right-of-way to the municipality for the fair market value established by the appraisers.

(1) When a railroad abandons a right-of-way which was acquired by eminent domain, and where there is a municipally owned natural gas pipeline buried thereon or there is a municipally owned natural gas pipeline buried on that railroad's right-of-way at a point within ten (10) miles of the abandoned right-of-way, the railroad shall offer to sell the abandoned right-of-way to the municipality at the fair market value of the right-of-way.

(2) If the municipality wishes to purchase the right-of-way, the municipality shall so notify the appropriate railroad representative and the railroad shall, within sixty (60) days after being so notified, establish the fair market value of the right-of-way and offer to sell it to the municipality.

(3) If the railroad fails to do so, the municipality may petition the circuit court for the appointment of three (3) appraisers to establish the fair market value of the right-of-way and for an order directing the railroad to offer to sell the right-of-way to the municipality for the fair market value established by the appraisers.

(c) An offer by a railroad to sell rights-of-way for the fair market value shall constitute a continuing offer granting the municipality the first right of refusal, and, in instances where a third party makes an offer to the railroad to purchase the abandoned right-of-way, the municipality shall have thirty (30) days from the date of offer by the third party to exercise its right of first refusal.

Acts 1985, No. 1002, § 1; A.S.A. 1947, § 73-509.
Ark. Code Ann. § 23-81-818 — AR Code / Title 23 / Chapter 81 / Subchapter 8 / Section 23-81-818
Effective date
Status: in_force

(a) (1) A provider lawfully transacting business in this state before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the Insurance Commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of providers. (2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009. (3) During the time that the application form and instructions are pending with the commissioner, the applicant may use any form of life settlement contract that has been filed with the commissioner pending approval of the application form and instructions, provided the form and instructions are otherwise in compliance with the provisions of this subchapter. (4) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter. (b) (1) A person who has lawfully negotiated life settlement contracts between any owner residing in this state and one (1) or more providers for at least one (1) year immediately before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of brokers. (2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009. (3) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter. Acts 2009, No. 796, § 1.

(a) (1) A provider lawfully transacting business in this state before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the Insurance Commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of providers. (2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009. (3) During the time that the application form and instructions are pending with the commissioner, the applicant may use any form of life settlement contract that has been filed with the commissioner pending approval of the application form and instructions, provided the form and instructions are otherwise in compliance with the provisions of this subchapter. (4) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter.

(1) A provider lawfully transacting business in this state before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the Insurance Commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of providers.

(2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009.

(3) During the time that the application form and instructions are pending with the commissioner, the applicant may use any form of life settlement contract that has been filed with the commissioner pending approval of the application form and instructions, provided the form and instructions are otherwise in compliance with the provisions of this subchapter.

(4) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter.

(b) (1) A person who has lawfully negotiated life settlement contracts between any owner residing in this state and one (1) or more providers for at least one (1) year immediately before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of brokers. (2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009. (3) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter.

(1) A person who has lawfully negotiated life settlement contracts between any owner residing in this state and one (1) or more providers for at least one (1) year immediately before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of brokers.

(2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009.

(3) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter.

Acts 2009, No. 796, § 1.
Ark. Code Ann. § 23-3-702 — AR Code / Title 23 / Chapter 3 / Subchapter 7 / Section 23-3-702
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Avoided costs" means the costs to an electric utility of electric energy or capacity, or both, that, but for the purchase from the qualifying facility or qualifying facilities, the utility would generate itself or purchase from another source; (2) "Commission" means the Arkansas Public Service Commission; (3) "Purchase" means the purchase of electric energy or capacity, or both, from a qualifying facility by an electric utility; (4) "Qualifying facility" means a cogeneration facility or a small power production facility which has obtained qualifying status under the cogeneration rules adopted by the Arkansas Public Service Commission pursuant to the Public Utility Regulatory Policies Act of 1978 and the rules and regulations of the Federal Energy Regulatory Commission promulgated under that act; and (5) "Rate" means any price, rate, charge, or classification made, demanded, observed, or received with respect to the sale or purchase of electric energy or capacity or any rule, regulation, or practice respecting any rate, charge, or classification and any contract pertaining to the sale or purchase of electric energy or capacity. Acts 1987, No. 796, § 2.

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

(1) "Avoided costs" means the costs to an electric utility of electric energy or capacity, or both, that, but for the purchase from the qualifying facility or qualifying facilities, the utility would generate itself or purchase from another source;

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

(3) "Purchase" means the purchase of electric energy or capacity, or both, from a qualifying facility by an electric utility;

(4) "Qualifying facility" means a cogeneration facility or a small power production facility which has obtained qualifying status under the cogeneration rules adopted by the Arkansas Public Service Commission pursuant to the Public Utility Regulatory Policies Act of 1978 and the rules and regulations of the Federal Energy Regulatory Commission promulgated under that act; and

(5) "Rate" means any price, rate, charge, or classification made, demanded, observed, or received with respect to the sale or purchase of electric energy or capacity or any rule, regulation, or practice respecting any rate, charge, or classification and any contract pertaining to the sale or purchase of electric energy or capacity.

Acts 1987, No. 796, § 2.
Ark. Code Ann. § 23-91-225 — AR Code / Title 23 / Chapter 91 / Subchapter 2 / Section 23-91-225
[Repealed]
Status: repealed

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023. Acts 1977, No. 368, § 18; A.S.A. 1947, § 66-5418.

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023.

Acts 1977, No. 368, § 18; A.S.A. 1947, § 66-5418.
Ark. Code Ann. § 23-17-209 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-209
Articles of incorporation - Contents
Status: in_force

(a) The articles of incorporation shall state: (1) The name of the cooperative. The name shall include the words "Telephone Cooperative" or "Telecommunications Cooperative", and the abbreviation "Inc."; (2) The purpose for which the cooperative is formed; (3) The names and addresses of the incorporators who shall serve as directors and manage the affairs of the cooperative until its first annual meeting of members or until their successors are elected and qualified; (4) The number of directors, not fewer than five (5), to be elected at the annual meeting of members; (5) The address of its principal office and the name and address of its agent upon whom process may be served; (6) The terms and conditions upon which persons shall be admitted to membership and retain membership in the cooperative; (7) If a cooperative desires to issue nonvoting shares of stock: (A) The total number of the shares of stock which may be issued and the par value of each share; (B) The fixed or maximum rates of dividends on the par value of the shares of stock and whether dividends shall be cumulative; (C) Whether the shares of stock may be issued to members only or to members and nonmembers; and (D) The maximum number of the shares of stock which may be owned by any person and the terms and conditions upon which the shares of stock may be transferred, redeemed, or retired. No shares of stock shall be issued except for cash or for property at its fair value in an amount equal to the par value of the shares of stock; and (8) Any provision not inconsistent with law, which the incorporators may choose to insert, for the regulation of the business and the conduct of the affairs of the cooperative. (b) It shall not be necessary to set forth in the articles of incorporation any of the corporate powers enumerated in this subchapter. Acts 1951, No. 51, § 6; A.S.A. 1947, § 77-1606; Acts 1989, No. 437, § 8.

(a) The articles of incorporation shall state: (1) The name of the cooperative. The name shall include the words "Telephone Cooperative" or "Telecommunications Cooperative", and the abbreviation "Inc."; (2) The purpose for which the cooperative is formed; (3) The names and addresses of the incorporators who shall serve as directors and manage the affairs of the cooperative until its first annual meeting of members or until their successors are elected and qualified; (4) The number of directors, not fewer than five (5), to be elected at the annual meeting of members; (5) The address of its principal office and the name and address of its agent upon whom process may be served; (6) The terms and conditions upon which persons shall be admitted to membership and retain membership in the cooperative; (7) If a cooperative desires to issue nonvoting shares of stock: (A) The total number of the shares of stock which may be issued and the par value of each share; (B) The fixed or maximum rates of dividends on the par value of the shares of stock and whether dividends shall be cumulative; (C) Whether the shares of stock may be issued to members only or to members and nonmembers; and (D) The maximum number of the shares of stock which may be owned by any person and the terms and conditions upon which the shares of stock may be transferred, redeemed, or retired. No shares of stock shall be issued except for cash or for property at its fair value in an amount equal to the par value of the shares of stock; and (8) Any provision not inconsistent with law, which the incorporators may choose to insert, for the regulation of the business and the conduct of the affairs of the cooperative.

(1) The name of the cooperative. The name shall include the words "Telephone Cooperative" or "Telecommunications Cooperative", and the abbreviation "Inc.";

(2) The purpose for which the cooperative is formed;

(3) The names and addresses of the incorporators who shall serve as directors and manage the affairs of the cooperative until its first annual meeting of members or until their successors are elected and qualified;

(4) The number of directors, not fewer than five (5), to be elected at the annual meeting of members;

(5) The address of its principal office and the name and address of its agent upon whom process may be served;

(6) The terms and conditions upon which persons shall be admitted to membership and retain membership in the cooperative;

(7) If a cooperative desires to issue nonvoting shares of stock: (A) The total number of the shares of stock which may be issued and the par value of each share; (B) The fixed or maximum rates of dividends on the par value of the shares of stock and whether dividends shall be cumulative; (C) Whether the shares of stock may be issued to members only or to members and nonmembers; and (D) The maximum number of the shares of stock which may be owned by any person and the terms and conditions upon which the shares of stock may be transferred, redeemed, or retired. No shares of stock shall be issued except for cash or for property at its fair value in an amount equal to the par value of the shares of stock; and

(A) The total number of the shares of stock which may be issued and the par value of each share;

(B) The fixed or maximum rates of dividends on the par value of the shares of stock and whether dividends shall be cumulative;

(C) Whether the shares of stock may be issued to members only or to members and nonmembers; and

(D) The maximum number of the shares of stock which may be owned by any person and the terms and conditions upon which the shares of stock may be transferred, redeemed, or retired. No shares of stock shall be issued except for cash or for property at its fair value in an amount equal to the par value of the shares of stock; and

(8) Any provision not inconsistent with law, which the incorporators may choose to insert, for the regulation of the business and the conduct of the affairs of the cooperative.

(b) It shall not be necessary to set forth in the articles of incorporation any of the corporate powers enumerated in this subchapter.

Acts 1951, No. 51, § 6; A.S.A. 1947, § 77-1606; Acts 1989, No. 437, § 8.
Ark. Code Ann. § 23-112-507 — AR Code / Title 23 / Chapter 112 / Subchapter 5 / Section 23-112-507
Exhaustion of remedies required - Exception
Status: in_force

No decision of the Arkansas Motor Vehicle Commission made as a result of a hearing under the provisions of this subchapter shall become final with respect to any party affected and aggrieved by the decision until the party has exhausted, or shall have had an opportunity to exhaust, all of his or her remedies provided for by this subchapter. However, any decision may be made final if the commission finds that failure to do so would be detrimental to the public interest or public welfare, but the finality of the decision shall not prevent any party affected and aggrieved thereby to appeal the decision in accordance with the appellate procedure set forth in this subchapter. Acts 1975, No. 388, § 7; A.S.A. 1947, § 75-2307.

No decision of the Arkansas Motor Vehicle Commission made as a result of a hearing under the provisions of this subchapter shall become final with respect to any party affected and aggrieved by the decision until the party has exhausted, or shall have had an opportunity to exhaust, all of his or her remedies provided for by this subchapter. However, any decision may be made final if the commission finds that failure to do so would be detrimental to the public interest or public welfare, but the finality of the decision shall not prevent any party affected and aggrieved thereby to appeal the decision in accordance with the appellate procedure set forth in this subchapter.

Acts 1975, No. 388, § 7; A.S.A. 1947, § 75-2307.
Ark. Code Ann. § 23-63-205 — AR Code / Title 23 / Chapter 63 / Subchapter 2 / Section 23-63-205
Certificate of authority - Eligibility - Capital funds
Status: in_force

(a) (1) On and after January 1, 2006, to qualify for and maintain authority to transact any one (1) kind of insurance, as defined in §§ 23-62-101 - 23-62-108 , or combination of kinds of insurance as shown in this subsection, an insurer applying for its original certificate of authority in Arkansas shall possess and maintain in cash and marketable securities unimpaired paid-in capital if the insurer is a domestic, foreign, or alien stock insurer or surplus if the insurer is a domestic, foreign, or alien mutual, or domestic mutual legal reserve life insurer, or foreign or alien reciprocal insurer, in an amount not less than is applicable under the schedule below, and shall possess when first so authorized such additional funds as surplus as are required under § 23-63-207 : Kinds of Insurance Minimum Capital or Surplus Required Life .......................................................................................... $750,000 Accident and Health .................................................................... 750,000 Life and Accident and Health ......................................................... 750,000 Property ................................................................................... 500,000 Casualty ................................................................................... 750,000 Surety ...................................................................................... 750,000 Marine ..................................................................................... 500,000 Title ........................................................................................ 250,000 Mortgage Guaranty ..................................................................... 750,000 Property, Casualty, Surety, and Marine ............................................. 750,000 Combination of other lines ........................................................... 750,000 (2) (A) As to any combination of kinds of insurance, other than combinations of kinds of insurance specifically listed in this subsection, the insurer shall possess the sum of the minimum capital or surplus required by this subsection for the separate kinds of insurance it proposes to transact unless the Insurance Commissioner deems it sufficient for the applicant to possess and maintain the total amount of seven hundred fifty thousand dollars ($750,000) for the proposed combination of kinds of insurance. (B) If Arkansas law does not specify the minimum capital or surplus for any kind of insurance, then the commissioner shall establish a minimum capital or surplus requirement of not less than five hundred thousand dollars ($500,000). (3) The commissioner may require reinsurance on terms and in amounts as are reasonable under the circumstances for abstractor's professional liability insurance when written by title insurers. (4) In his or her discretion, the commissioner may require the insurer to possess and maintain additional capital, if a stock insurer, and surplus, if a mutual or reciprocal insurer, in addition to that required by this section, based on the financial condition of the insurer or based on the types, volume, or nature of the business transacted by the insurer. (b) An insurer holding a valid certificate of authority to transact insurance in this state immediately prior to January 1, 2006, may continue to be authorized to transact the same kinds of insurance as permitted by the certificate of authority by maintaining thereafter the same amount of paid-in capital stock, if the insurer is a stock insurer, or the amount of surplus, if the insurer is a mutual or reciprocal insurer, as required by the laws of this state for such an insurer immediately prior to January 1, 2006. However, the insurer shall not be granted authority to transact any other or additional kind of insurance, unless it then fully complies with the requirement as to capital and surplus, as applied to the kinds of insurance it then proposes to transact, as provided by this section with respect to insurers applying for original certificates of authority. (c) Capital and surplus requirements shall be based upon all the kinds of insurance actually transacted or currently to be transacted by the insurer in all areas in which it operates, whether or not only a portion of the kinds are to be transacted in this state. (d) As to surplus required for qualification to transact one (1) or more kinds of insurance and to be maintained, domestic mutual insurers, other than mutual life insurers, shall be governed by §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 , and domestic reciprocal insurers shall be governed by § 23-70-101 et seq. (e) A life insurer may also grant annuities without additional capital or additional surplus. (f) A casualty insurer may be authorized to transact accident and health insurance without additional capital or additional surplus. (g) (1) Except as provided in subdivision (g)(2) of this section: (A) A title insurer shall not be approved to write any other kind of insurance other than title insurance; and (B) A mortgage guaranty insurer shall not be approved to write any other kinds of insurance other than mortgage guaranty insurance. (2) The provisions of this subsection shall not apply to an insurer authorized to write title or mortgage guaranty insurance along with other kinds of insurance as of January 1, 2006, but the insurer shall not be allowed to add additional kinds of insurance to its certificates of authority after January 1, 2006. Acts 1959, No. 148, § 49; 1967, No. 172, § 1; 1971, No. 539, § 1; 1975, No. 729, § 1; 1979, No. 942, § 7; 1981, No. 451, § 1; 1985, No. 744, § 1; A.S.A. 1947, § 66-2207; Acts 1987, No. 456, § 4; 1991, No. 723, § 16; 2001, No. 1603, § 9; 2001, No. 1604, §§ 17, 18; 2005, No. 506, § 15.

(a) (1) On and after January 1, 2006, to qualify for and maintain authority to transact any one (1) kind of insurance, as defined in §§ 23-62-101 - 23-62-108 , or combination of kinds of insurance as shown in this subsection, an insurer applying for its original certificate of authority in Arkansas shall possess and maintain in cash and marketable securities unimpaired paid-in capital if the insurer is a domestic, foreign, or alien stock insurer or surplus if the insurer is a domestic, foreign, or alien mutual, or domestic mutual legal reserve life insurer, or foreign or alien reciprocal insurer, in an amount not less than is applicable under the schedule below, and shall possess when first so authorized such additional funds as surplus as are required under § 23-63-207 : Kinds of Insurance Minimum Capital or Surplus Required Life .......................................................................................... $750,000 Accident and Health .................................................................... 750,000 Life and Accident and Health ......................................................... 750,000 Property ................................................................................... 500,000 Casualty ................................................................................... 750,000 Surety ...................................................................................... 750,000 Marine ..................................................................................... 500,000 Title ........................................................................................ 250,000 Mortgage Guaranty ..................................................................... 750,000 Property, Casualty, Surety, and Marine ............................................. 750,000 Combination of other lines ........................................................... 750,000 (2) (A) As to any combination of kinds of insurance, other than combinations of kinds of insurance specifically listed in this subsection, the insurer shall possess the sum of the minimum capital or surplus required by this subsection for the separate kinds of insurance it proposes to transact unless the Insurance Commissioner deems it sufficient for the applicant to possess and maintain the total amount of seven hundred fifty thousand dollars ($750,000) for the proposed combination of kinds of insurance. (B) If Arkansas law does not specify the minimum capital or surplus for any kind of insurance, then the commissioner shall establish a minimum capital or surplus requirement of not less than five hundred thousand dollars ($500,000). (3) The commissioner may require reinsurance on terms and in amounts as are reasonable under the circumstances for abstractor's professional liability insurance when written by title insurers. (4) In his or her discretion, the commissioner may require the insurer to possess and maintain additional capital, if a stock insurer, and surplus, if a mutual or reciprocal insurer, in addition to that required by this section, based on the financial condition of the insurer or based on the types, volume, or nature of the business transacted by the insurer.

(1) On and after January 1, 2006, to qualify for and maintain authority to transact any one (1) kind of insurance, as defined in §§ 23-62-101 - 23-62-108 , or combination of kinds of insurance as shown in this subsection, an insurer applying for its original certificate of authority in Arkansas shall possess and maintain in cash and marketable securities unimpaired paid-in capital if the insurer is a domestic, foreign, or alien stock insurer or surplus if the insurer is a domestic, foreign, or alien mutual, or domestic mutual legal reserve life insurer, or foreign or alien reciprocal insurer, in an amount not less than is applicable under the schedule below, and shall possess when first so authorized such additional funds as surplus as are required under § 23-63-207 : Kinds of Insurance Minimum Capital or Surplus Required Life .......................................................................................... $750,000 Accident and Health .................................................................... 750,000 Life and Accident and Health ......................................................... 750,000 Property ................................................................................... 500,000 Casualty ................................................................................... 750,000 Surety ...................................................................................... 750,000 Marine ..................................................................................... 500,000 Title ........................................................................................ 250,000 Mortgage Guaranty ..................................................................... 750,000 Property, Casualty, Surety, and Marine ............................................. 750,000 Combination of other lines ........................................................... 750,000

Kinds of Insurance Minimum Capital or Surplus Required Life .......................................................................................... $750,000 Accident and Health .................................................................... 750,000 Life and Accident and Health ......................................................... 750,000 Property ................................................................................... 500,000 Casualty ................................................................................... 750,000 Surety ...................................................................................... 750,000 Marine ..................................................................................... 500,000 Title ........................................................................................ 250,000 Mortgage Guaranty ..................................................................... 750,000 Property, Casualty, Surety, and Marine ............................................. 750,000 Combination of other lines ........................................................... 750,000

Kinds of Insurance

Minimum Capital or Surplus Required

Life ..........................................................................................

$750,000

Accident and Health ....................................................................

750,000

Life and Accident and Health .........................................................

750,000

Property ...................................................................................

500,000

Casualty ...................................................................................

750,000

Surety ......................................................................................

750,000

Marine .....................................................................................

500,000

Title ........................................................................................

250,000

Mortgage Guaranty .....................................................................

750,000

Property, Casualty, Surety, and Marine .............................................

750,000

Combination of other lines ...........................................................

750,000

(2) (A) As to any combination of kinds of insurance, other than combinations of kinds of insurance specifically listed in this subsection, the insurer shall possess the sum of the minimum capital or surplus required by this subsection for the separate kinds of insurance it proposes to transact unless the Insurance Commissioner deems it sufficient for the applicant to possess and maintain the total amount of seven hundred fifty thousand dollars ($750,000) for the proposed combination of kinds of insurance. (B) If Arkansas law does not specify the minimum capital or surplus for any kind of insurance, then the commissioner shall establish a minimum capital or surplus requirement of not less than five hundred thousand dollars ($500,000).

(A) As to any combination of kinds of insurance, other than combinations of kinds of insurance specifically listed in this subsection, the insurer shall possess the sum of the minimum capital or surplus required by this subsection for the separate kinds of insurance it proposes to transact unless the Insurance Commissioner deems it sufficient for the applicant to possess and maintain the total amount of seven hundred fifty thousand dollars ($750,000) for the proposed combination of kinds of insurance.

(B) If Arkansas law does not specify the minimum capital or surplus for any kind of insurance, then the commissioner shall establish a minimum capital or surplus requirement of not less than five hundred thousand dollars ($500,000).

(3) The commissioner may require reinsurance on terms and in amounts as are reasonable under the circumstances for abstractor's professional liability insurance when written by title insurers.

(4) In his or her discretion, the commissioner may require the insurer to possess and maintain additional capital, if a stock insurer, and surplus, if a mutual or reciprocal insurer, in addition to that required by this section, based on the financial condition of the insurer or based on the types, volume, or nature of the business transacted by the insurer.

(b) An insurer holding a valid certificate of authority to transact insurance in this state immediately prior to January 1, 2006, may continue to be authorized to transact the same kinds of insurance as permitted by the certificate of authority by maintaining thereafter the same amount of paid-in capital stock, if the insurer is a stock insurer, or the amount of surplus, if the insurer is a mutual or reciprocal insurer, as required by the laws of this state for such an insurer immediately prior to January 1, 2006. However, the insurer shall not be granted authority to transact any other or additional kind of insurance, unless it then fully complies with the requirement as to capital and surplus, as applied to the kinds of insurance it then proposes to transact, as provided by this section with respect to insurers applying for original certificates of authority.

(c) Capital and surplus requirements shall be based upon all the kinds of insurance actually transacted or currently to be transacted by the insurer in all areas in which it operates, whether or not only a portion of the kinds are to be transacted in this state.

(d) As to surplus required for qualification to transact one (1) or more kinds of insurance and to be maintained, domestic mutual insurers, other than mutual life insurers, shall be governed by §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 , and domestic reciprocal insurers shall be governed by § 23-70-101 et seq.

(e) A life insurer may also grant annuities without additional capital or additional surplus.

(f) A casualty insurer may be authorized to transact accident and health insurance without additional capital or additional surplus.

(g) (1) Except as provided in subdivision (g)(2) of this section: (A) A title insurer shall not be approved to write any other kind of insurance other than title insurance; and (B) A mortgage guaranty insurer shall not be approved to write any other kinds of insurance other than mortgage guaranty insurance. (2) The provisions of this subsection shall not apply to an insurer authorized to write title or mortgage guaranty insurance along with other kinds of insurance as of January 1, 2006, but the insurer shall not be allowed to add additional kinds of insurance to its certificates of authority after January 1, 2006.

(1) Except as provided in subdivision (g)(2) of this section: (A) A title insurer shall not be approved to write any other kind of insurance other than title insurance; and (B) A mortgage guaranty insurer shall not be approved to write any other kinds of insurance other than mortgage guaranty insurance.

(A) A title insurer shall not be approved to write any other kind of insurance other than title insurance; and

(B) A mortgage guaranty insurer shall not be approved to write any other kinds of insurance other than mortgage guaranty insurance.

(2) The provisions of this subsection shall not apply to an insurer authorized to write title or mortgage guaranty insurance along with other kinds of insurance as of January 1, 2006, but the insurer shall not be allowed to add additional kinds of insurance to its certificates of authority after January 1, 2006.

Acts 1959, No. 148, § 49; 1967, No. 172, § 1; 1971, No. 539, § 1; 1975, No. 729, § 1; 1979, No. 942, § 7; 1981, No. 451, § 1; 1985, No. 744, § 1; A.S.A. 1947, § 66-2207; Acts 1987, No. 456, § 4; 1991, No. 723, § 16; 2001, No. 1603, § 9; 2001, No. 1604, §§ 17, 18; 2005, No. 506, § 15.
Ark. Code Ann. § 23-103-416 — AR Code / Title 23 / Chapter 103 / Subchapter 4 / Section 23-103-416
Penalties - Liabilities
Status: in_force

(a) If the Insurance Commissioner determines that a title insurer, title insurance agency, title insurance agent, or any other person has violated this subchapter or any rule or order promulgated under this subchapter, the commissioner may order: (1) (A) Payment of a monetary penalty not to exceed one thousand dollars ($1,000) for each act or violation and not to exceed an aggregate penalty of ten thousand dollars ($10,000) unless the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter. (B) If the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter, the penalty shall not exceed five thousand dollars ($5,000) for each act or violation and not exceed an aggregate penalty of fifty thousand dollars ($50,000) in any six-month period; or (2) Suspension or revocation of the title insurer's, title insurance agency's, title insurance agent's, or other person's license if the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter. (b) If an order of rehabilitation or liquidation of the title insurer or of conservation of assets of the title insurer has been entered and the receiver appointed under the order determines that the title insurance agency or title insurance agent or any other person has not complied with this subchapter or any rule or order promulgated under this subchapter and the title insurer suffered any resulting loss or damage, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the title insurer and its policyholders and creditors. (c) This section does not affect the right of the commissioner to impose any other penalties provided under § 23-64-101 et seq. Acts 2007, No. 684, § 6; 2009, No. 1190, § 12.

(a) If the Insurance Commissioner determines that a title insurer, title insurance agency, title insurance agent, or any other person has violated this subchapter or any rule or order promulgated under this subchapter, the commissioner may order: (1) (A) Payment of a monetary penalty not to exceed one thousand dollars ($1,000) for each act or violation and not to exceed an aggregate penalty of ten thousand dollars ($10,000) unless the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter. (B) If the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter, the penalty shall not exceed five thousand dollars ($5,000) for each act or violation and not exceed an aggregate penalty of fifty thousand dollars ($50,000) in any six-month period; or (2) Suspension or revocation of the title insurer's, title insurance agency's, title insurance agent's, or other person's license if the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter.

(1) (A) Payment of a monetary penalty not to exceed one thousand dollars ($1,000) for each act or violation and not to exceed an aggregate penalty of ten thousand dollars ($10,000) unless the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter. (B) If the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter, the penalty shall not exceed five thousand dollars ($5,000) for each act or violation and not exceed an aggregate penalty of fifty thousand dollars ($50,000) in any six-month period; or

(A) Payment of a monetary penalty not to exceed one thousand dollars ($1,000) for each act or violation and not to exceed an aggregate penalty of ten thousand dollars ($10,000) unless the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter.

(B) If the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter, the penalty shall not exceed five thousand dollars ($5,000) for each act or violation and not exceed an aggregate penalty of fifty thousand dollars ($50,000) in any six-month period; or

(2) Suspension or revocation of the title insurer's, title insurance agency's, title insurance agent's, or other person's license if the title insurer, title insurance agency, title insurance agent, or other person knew or reasonably should have known that the title insurer, title insurance agency, title insurance agent, or other person was in violation of this subchapter.

(b) If an order of rehabilitation or liquidation of the title insurer or of conservation of assets of the title insurer has been entered and the receiver appointed under the order determines that the title insurance agency or title insurance agent or any other person has not complied with this subchapter or any rule or order promulgated under this subchapter and the title insurer suffered any resulting loss or damage, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the title insurer and its policyholders and creditors.

(c) This section does not affect the right of the commissioner to impose any other penalties provided under § 23-64-101 et seq.

Acts 2007, No. 684, § 6; 2009, No. 1190, § 12.
Ark. Code Ann. § 23-2-314 — AR Code / Title 23 / Chapter 2 / Subchapter 3 / Section 23-2-314
Fees charged by commission
Status: in_force

(a) The commission shall charge and collect the following fees: (1) Two hundred dollars ($200) for filing each application for a certificate of public convenience and necessity as required by §§ 23-3-201 - 23-3-205 ; and (2) Such fees for copying and certifying the copy of any filed document as shall be determined by the commission from time to time after reasonable notice and hearing. (b) No fees shall be charged or collected for copies of papers, records, or official documents furnished to public officers for use in their official capacity or for the annual reports of the commission in the ordinary course of distribution. (c) All fees charged and collected by the commission shall be paid daily, accompanied by a detailed statement thereof, into the State Treasury. Acts 1935, No. 324, § 53; Pope's Dig., § 2113; A.S.A. 1947, § 73-114; Acts 1989, No. 742, § 1.

(a) The commission shall charge and collect the following fees: (1) Two hundred dollars ($200) for filing each application for a certificate of public convenience and necessity as required by §§ 23-3-201 - 23-3-205 ; and (2) Such fees for copying and certifying the copy of any filed document as shall be determined by the commission from time to time after reasonable notice and hearing.

(1) Two hundred dollars ($200) for filing each application for a certificate of public convenience and necessity as required by §§ 23-3-201 - 23-3-205 ; and

(2) Such fees for copying and certifying the copy of any filed document as shall be determined by the commission from time to time after reasonable notice and hearing.

(b) No fees shall be charged or collected for copies of papers, records, or official documents furnished to public officers for use in their official capacity or for the annual reports of the commission in the ordinary course of distribution.

(c) All fees charged and collected by the commission shall be paid daily, accompanied by a detailed statement thereof, into the State Treasury.

Acts 1935, No. 324, § 53; Pope's Dig., § 2113; A.S.A. 1947, § 73-114; Acts 1989, No. 742, § 1.
Ark. Code Ann. § 23-40-101 — AR Code / Title 23 / Chapter 40 / Section 23-40-101
Short title
Status: in_force

This chapter shall be known as the "Arkansas Prepaid Funeral Benefits Law". Acts 1995, No. 852, § 12.

This chapter shall be known as the "Arkansas Prepaid Funeral Benefits Law".

Acts 1995, No. 852, § 12.