Ark. Code Ann. § 23-63-1504 — AR Code / Title 23 / Chapter 63 / Subchapter 15 / Section 23-63-1504
Regulatory action level event
Status: in_force

(a) "Regulatory action level event" means, with respect to a health organization, any of the following events: (1) The filing of an RBC report by the health organization that indicates that the health organization's total adjusted capital is greater than or equal to its authorized control level RBC but less than its regulatory action level RBC; (2) The notification by the Insurance Commissioner to a health organization of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 23-63-1507 ; (3) If under § 23-63-1507 the health organization challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge; (4) The failure of the health organization to file an RBC report by the filing date, unless the health organization has provided an explanation for the failure that is satisfactory to the commissioner and has cured the failure within ten (10) days after the filing date; (5) The failure of the health organization to submit an RBC plan to the commissioner within the time stated in § 23-63-1503(c) ; (6) The notification by the commissioner to the health organization that: (A) The RBC plan or revised RBC plan submitted by the health organization is, in the judgment of the commissioner, unsatisfactory; and (B) Notification constitutes a regulatory action level event with respect to the health organization, provided the health organization has not challenged the determination under § 23-63-1507 ; (7) If under § 23-63-1507 the health organization challenges a determination by the commissioner under subdivision (a)(6) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the challenge; (8) The notification by the commissioner to the health organization that the health organization has failed to adhere to its RBC plan or revised RBC plan, but only if the failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event according to its RBC plan or revised RBC plan and the commissioner has so stated in the notification, provided the health organization has not challenged the determination under § 23-63-1507 ; or (9) If under § 23-63-1507 the health organization challenges a determination by the commissioner under subdivision (a)(8) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the challenge. (b) In the event of a regulatory action level event the commissioner shall: (1) Require the health organization to prepare and submit an RBC plan or, if applicable, a revised RBC plan; (2) Perform an examination or analysis as the commissioner deems necessary of the assets, liabilities, and operations of the health organization including a review of its RBC plan or revised RBC plan; and (3) After the examination or analysis, issue a corrective order specifying such corrective actions as the commissioner shall determine are required. (c) In determining corrective actions, the commissioner may take into account factors the commissioner deems relevant with respect to the health organization based upon the commissioner's examination or analysis of the assets, liabilities, and operations of the health organization, including without limitation the results of any sensitivity tests undertaken under the RBC instructions. The RBC plan or revised RBC plan shall be submitted: (1) Within forty-five (45) days after the occurrence of the regulatory action level event; (2) If the health organization challenges an adjusted RBC report under § 23-63-1507 and the challenge is not frivolous in the judgment of the commissioner, within forty-five (45) days after the notification to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge; or (3) If the health organization challenges a revised RBC plan under § 23-63-1507 and the challenge is not frivolous in the judgment of the commissioner, within forty-five (45) days after the notification to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge. (d) The commissioner may retain actuaries, investment experts, and other consultants as may be necessary in the judgment of the commissioner to review the health organization's RBC plan or revised RBC plan, examine or analyze the assets, liabilities, and operations, including contractual relationships, of the health organization and formulate the corrective order with respect to the health organization. The fees, costs, and expenses relating to consultants shall be borne by the affected health organization or the other party as directed by the commissioner. Acts 1999, No. 580, § 4; 2011, No. 760, § 5.

(a) "Regulatory action level event" means, with respect to a health organization, any of the following events: (1) The filing of an RBC report by the health organization that indicates that the health organization's total adjusted capital is greater than or equal to its authorized control level RBC but less than its regulatory action level RBC; (2) The notification by the Insurance Commissioner to a health organization of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 23-63-1507 ; (3) If under § 23-63-1507 the health organization challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge; (4) The failure of the health organization to file an RBC report by the filing date, unless the health organization has provided an explanation for the failure that is satisfactory to the commissioner and has cured the failure within ten (10) days after the filing date; (5) The failure of the health organization to submit an RBC plan to the commissioner within the time stated in § 23-63-1503(c) ; (6) The notification by the commissioner to the health organization that: (A) The RBC plan or revised RBC plan submitted by the health organization is, in the judgment of the commissioner, unsatisfactory; and (B) Notification constitutes a regulatory action level event with respect to the health organization, provided the health organization has not challenged the determination under § 23-63-1507 ; (7) If under § 23-63-1507 the health organization challenges a determination by the commissioner under subdivision (a)(6) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the challenge; (8) The notification by the commissioner to the health organization that the health organization has failed to adhere to its RBC plan or revised RBC plan, but only if the failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event according to its RBC plan or revised RBC plan and the commissioner has so stated in the notification, provided the health organization has not challenged the determination under § 23-63-1507 ; or (9) If under § 23-63-1507 the health organization challenges a determination by the commissioner under subdivision (a)(8) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the challenge.

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

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

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

(4) The failure of the health organization to file an RBC report by the filing date, unless the health organization has provided an explanation for the failure that is satisfactory to the commissioner and has cured the failure within ten (10) days after the filing date;

(5) The failure of the health organization to submit an RBC plan to the commissioner within the time stated in § 23-63-1503(c) ;

(6) The notification by the commissioner to the health organization that: (A) The RBC plan or revised RBC plan submitted by the health organization is, in the judgment of the commissioner, unsatisfactory; and (B) Notification constitutes a regulatory action level event with respect to the health organization, provided the health organization has not challenged the determination under § 23-63-1507 ;

(A) The RBC plan or revised RBC plan submitted by the health organization is, in the judgment of the commissioner, unsatisfactory; and

(B) Notification constitutes a regulatory action level event with respect to the health organization, provided the health organization has not challenged the determination under § 23-63-1507 ;

(7) If under § 23-63-1507 the health organization challenges a determination by the commissioner under subdivision (a)(6) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the challenge;

(8) The notification by the commissioner to the health organization that the health organization has failed to adhere to its RBC plan or revised RBC plan, but only if the failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event according to its RBC plan or revised RBC plan and the commissioner has so stated in the notification, provided the health organization has not challenged the determination under § 23-63-1507 ; or

(9) If under § 23-63-1507 the health organization challenges a determination by the commissioner under subdivision (a)(8) of this section, the notification by the commissioner to the health organization that the commissioner, after a hearing, has rejected the challenge.

(b) In the event of a regulatory action level event the commissioner shall: (1) Require the health organization to prepare and submit an RBC plan or, if applicable, a revised RBC plan; (2) Perform an examination or analysis as the commissioner deems necessary of the assets, liabilities, and operations of the health organization including a review of its RBC plan or revised RBC plan; and (3) After the examination or analysis, issue a corrective order specifying such corrective actions as the commissioner shall determine are required.

(1) Require the health organization to prepare and submit an RBC plan or, if applicable, a revised RBC plan;

(2) Perform an examination or analysis as the commissioner deems necessary of the assets, liabilities, and operations of the health organization including a review of its RBC plan or revised RBC plan; and

(3) After the examination or analysis, issue a corrective order specifying such corrective actions as the commissioner shall determine are required.

(c) In determining corrective actions, the commissioner may take into account factors the commissioner deems relevant with respect to the health organization based upon the commissioner's examination or analysis of the assets, liabilities, and operations of the health organization, including without limitation the results of any sensitivity tests undertaken under the RBC instructions. The RBC plan or revised RBC plan shall be submitted: (1) Within forty-five (45) days after the occurrence of the regulatory action level event; (2) If the health organization challenges an adjusted RBC report under § 23-63-1507 and the challenge is not frivolous in the judgment of the commissioner, within forty-five (45) days after the notification to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge; or (3) If the health organization challenges a revised RBC plan under § 23-63-1507 and the challenge is not frivolous in the judgment of the commissioner, within forty-five (45) days after the notification to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge.

(1) Within forty-five (45) days after the occurrence of the regulatory action level event;

(2) If the health organization challenges an adjusted RBC report under § 23-63-1507 and the challenge is not frivolous in the judgment of the commissioner, within forty-five (45) days after the notification to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge; or

(3) If the health organization challenges a revised RBC plan under § 23-63-1507 and the challenge is not frivolous in the judgment of the commissioner, within forty-five (45) days after the notification to the health organization that the commissioner, after a hearing, has rejected the health organization's challenge.

(d) The commissioner may retain actuaries, investment experts, and other consultants as may be necessary in the judgment of the commissioner to review the health organization's RBC plan or revised RBC plan, examine or analyze the assets, liabilities, and operations, including contractual relationships, of the health organization and formulate the corrective order with respect to the health organization. The fees, costs, and expenses relating to consultants shall be borne by the affected health organization or the other party as directed by the commissioner.

Acts 1999, No. 580, § 4; 2011, No. 760, § 5.
Ark. Code Ann. § 23-49-112 — AR Code / Title 23 / Chapter 49 / Section 23-49-112
Rejection of contracts and leases
Status: in_force

(a) Within one hundred eighty (180) days after the date that the Bank Commissioner has taken possession, the receiver may, at his or her election, reject: (1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and (2) Any obligation of the institution as a lessee of real or personal property. (b) The receiver's election to reject a lease shall create no claim for rent other than rent accrued to the date of termination. Acts 1997, No. 89, § 1.

(a) Within one hundred eighty (180) days after the date that the Bank Commissioner has taken possession, the receiver may, at his or her election, reject: (1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and (2) Any obligation of the institution as a lessee of real or personal property.

(1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and

(2) Any obligation of the institution as a lessee of real or personal property.

(b) The receiver's election to reject a lease shall create no claim for rent other than rent accrued to the date of termination.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-81-125 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-125
Annuity and pure endowment contracts - Misstatement of age provision
Status: in_force

In an annuity or pure endowment contract, other than reversionary, survivorship, or group annuity, there shall be a provision that if the age of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payments to the insurer would have purchased according to the correct age, and that if the insurer shall make or has made any overpayments on account of any misstatement, the amount thereof, with interest at the rate to be specified in the contract but not exceeding six percent (6%) per annum, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract. Acts 1959, No. 148, § 328; A.S.A. 1947, § 66-3319.

In an annuity or pure endowment contract, other than reversionary, survivorship, or group annuity, there shall be a provision that if the age of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payments to the insurer would have purchased according to the correct age, and that if the insurer shall make or has made any overpayments on account of any misstatement, the amount thereof, with interest at the rate to be specified in the contract but not exceeding six percent (6%) per annum, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract.

Acts 1959, No. 148, § 328; A.S.A. 1947, § 66-3319.
Ark. Code Ann. § 23-75-104 — AR Code / Title 23 / Chapter 75 / Section 23-75-104
Not applicable to employer plan
Status: in_force

(a) This chapter shall not apply to any employer operating or maintaining a hospital service plan or medical service plan, participation in which is limited to his or her employees and the employees of a parent company or subsidiary company of the employer. (b) As used in this section, the term "employees" shall include members of the families of employees. Acts 1959, No. 148, § 689; 1963, No. 54, § 6; A.S.A. 1947, § 66-4919.

(a) This chapter shall not apply to any employer operating or maintaining a hospital service plan or medical service plan, participation in which is limited to his or her employees and the employees of a parent company or subsidiary company of the employer.

(b) As used in this section, the term "employees" shall include members of the families of employees.

Acts 1959, No. 148, § 689; 1963, No. 54, § 6; A.S.A. 1947, § 66-4919.
Ark. Code Ann. § 23-48-313 — AR Code / Title 23 / Chapter 48 / Subchapter 3 / Section 23-48-313
Classes of stock - Fractional shares - Scrip
Status: in_force

(a) (1) (A) The shares of the capital stock of any state bank may consist of shares of common stock or of common and preferred stock. (B) Common or preferred stock may be divided into classes with the designations, preferences, limitations, retirement provisions, and relative rights as shall be stated in the articles of incorporation or an amendment thereto. (C) (i) If provided in the articles of incorporation of a state bank, the board of directors may determine, in whole or part, the preferences, limitations, and relative rights, within the limits stated in § 4-27-601 , of: (a) Any class of shares before any shares of that class are issued; or (b) One (1) or more series within a class before any shares of that series are issued. (ii) Each series of a class shall be given a distinguishing designation. (iii) All shares of a series shall have preferences, limitations, and relative rights that are identical with those of other shares of the same series and, except to the extent otherwise provided in the description of the series, with those of other series of the same class. (iv) (a) Before issuing any shares of a class or series created under this section, the state bank shall deliver to the Bank Commissioner for filing the articles of amendment that are effective without shareholder action and provide a copy of the resolutions adopted by the board of directors approving the amendment. (b) The articles of amendment shall include: (1) The name of the state bank; (2) A statement that the number of shares to be issued under this section are within the number of shares authorized to be issued under the articles of incorporation of the state bank; (3) The text of the amendment determining the terms of the class or series of shares; (4) The date of adoption of the amendment; and (5) A statement that the amendment was adopted by the board of directors. (2) (A) The voting rights of any class of stock may be denied or restricted, except that the holder of stock belonging to a class of stock issued as nonvoting shall be entitled to vote in respect to a dissolution or a merger or consolidation, or in respect to any proposal that would adversely affect the preferences, privileges, and other rights annexed to the shares. (B) A stockholder's right to vote under Arkansas Constitution, Article 12, § 8, upon a proposal to increase the stock of the state bank may not be abridged. (b) (1) Unless prohibited by the articles of agreement, or an amendment thereto, or by bylaws, a state bank may issue a certificate for a fractional share or, by action of its board of directors, may issue, in lieu thereof, scrip in bearer or registered form which shall entitle the holder to receive a certificate for a full share upon the surrender of the scrip aggregating a full share. (2) Unless otherwise provided in the articles of agreement or in an amendment thereto, or in the bylaws, a fractional share shall, but scrip shall not, entitle the holder to exercise voting rights, to receive dividends thereon, and to participate in any of the assets of the corporation in the event of liquidation. (3) When scrip is issued, the directors may provide that it shall become void if not exchanged for certificates representing full shares before a specified date, or the board may provide that the shares for which the scrip is exchangeable may be sold by the state bank and the proceeds thereof distributed to the holders of the scrip. Amended by Act 2017, No. 548,§ 6, eff. 3/21/2017. Acts 1997, No. 89, § 1.

(a) (1) (A) The shares of the capital stock of any state bank may consist of shares of common stock or of common and preferred stock. (B) Common or preferred stock may be divided into classes with the designations, preferences, limitations, retirement provisions, and relative rights as shall be stated in the articles of incorporation or an amendment thereto. (C) (i) If provided in the articles of incorporation of a state bank, the board of directors may determine, in whole or part, the preferences, limitations, and relative rights, within the limits stated in § 4-27-601 , of: (a) Any class of shares before any shares of that class are issued; or (b) One (1) or more series within a class before any shares of that series are issued. (ii) Each series of a class shall be given a distinguishing designation. (iii) All shares of a series shall have preferences, limitations, and relative rights that are identical with those of other shares of the same series and, except to the extent otherwise provided in the description of the series, with those of other series of the same class. (iv) (a) Before issuing any shares of a class or series created under this section, the state bank shall deliver to the Bank Commissioner for filing the articles of amendment that are effective without shareholder action and provide a copy of the resolutions adopted by the board of directors approving the amendment. (b) The articles of amendment shall include: (1) The name of the state bank; (2) A statement that the number of shares to be issued under this section are within the number of shares authorized to be issued under the articles of incorporation of the state bank; (3) The text of the amendment determining the terms of the class or series of shares; (4) The date of adoption of the amendment; and (5) A statement that the amendment was adopted by the board of directors. (2) (A) The voting rights of any class of stock may be denied or restricted, except that the holder of stock belonging to a class of stock issued as nonvoting shall be entitled to vote in respect to a dissolution or a merger or consolidation, or in respect to any proposal that would adversely affect the preferences, privileges, and other rights annexed to the shares. (B) A stockholder's right to vote under Arkansas Constitution, Article 12, § 8, upon a proposal to increase the stock of the state bank may not be abridged.

(1) (A) The shares of the capital stock of any state bank may consist of shares of common stock or of common and preferred stock. (B) Common or preferred stock may be divided into classes with the designations, preferences, limitations, retirement provisions, and relative rights as shall be stated in the articles of incorporation or an amendment thereto. (C) (i) If provided in the articles of incorporation of a state bank, the board of directors may determine, in whole or part, the preferences, limitations, and relative rights, within the limits stated in § 4-27-601 , of: (a) Any class of shares before any shares of that class are issued; or (b) One (1) or more series within a class before any shares of that series are issued. (ii) Each series of a class shall be given a distinguishing designation. (iii) All shares of a series shall have preferences, limitations, and relative rights that are identical with those of other shares of the same series and, except to the extent otherwise provided in the description of the series, with those of other series of the same class. (iv) (a) Before issuing any shares of a class or series created under this section, the state bank shall deliver to the Bank Commissioner for filing the articles of amendment that are effective without shareholder action and provide a copy of the resolutions adopted by the board of directors approving the amendment. (b) The articles of amendment shall include: (1) The name of the state bank; (2) A statement that the number of shares to be issued under this section are within the number of shares authorized to be issued under the articles of incorporation of the state bank; (3) The text of the amendment determining the terms of the class or series of shares; (4) The date of adoption of the amendment; and (5) A statement that the amendment was adopted by the board of directors.

(A) The shares of the capital stock of any state bank may consist of shares of common stock or of common and preferred stock.

(B) Common or preferred stock may be divided into classes with the designations, preferences, limitations, retirement provisions, and relative rights as shall be stated in the articles of incorporation or an amendment thereto.

(C) (i) If provided in the articles of incorporation of a state bank, the board of directors may determine, in whole or part, the preferences, limitations, and relative rights, within the limits stated in § 4-27-601 , of: (a) Any class of shares before any shares of that class are issued; or (b) One (1) or more series within a class before any shares of that series are issued. (ii) Each series of a class shall be given a distinguishing designation. (iii) All shares of a series shall have preferences, limitations, and relative rights that are identical with those of other shares of the same series and, except to the extent otherwise provided in the description of the series, with those of other series of the same class. (iv) (a) Before issuing any shares of a class or series created under this section, the state bank shall deliver to the Bank Commissioner for filing the articles of amendment that are effective without shareholder action and provide a copy of the resolutions adopted by the board of directors approving the amendment. (b) The articles of amendment shall include: (1) The name of the state bank; (2) A statement that the number of shares to be issued under this section are within the number of shares authorized to be issued under the articles of incorporation of the state bank; (3) The text of the amendment determining the terms of the class or series of shares; (4) The date of adoption of the amendment; and (5) A statement that the amendment was adopted by the board of directors.

(i) If provided in the articles of incorporation of a state bank, the board of directors may determine, in whole or part, the preferences, limitations, and relative rights, within the limits stated in § 4-27-601 , of: (a) Any class of shares before any shares of that class are issued; or (b) One (1) or more series within a class before any shares of that series are issued.

(a) Any class of shares before any shares of that class are issued; or

(b) One (1) or more series within a class before any shares of that series are issued.

(ii) Each series of a class shall be given a distinguishing designation.

(iii) All shares of a series shall have preferences, limitations, and relative rights that are identical with those of other shares of the same series and, except to the extent otherwise provided in the description of the series, with those of other series of the same class.

(iv) (a) Before issuing any shares of a class or series created under this section, the state bank shall deliver to the Bank Commissioner for filing the articles of amendment that are effective without shareholder action and provide a copy of the resolutions adopted by the board of directors approving the amendment. (b) The articles of amendment shall include: (1) The name of the state bank; (2) A statement that the number of shares to be issued under this section are within the number of shares authorized to be issued under the articles of incorporation of the state bank; (3) The text of the amendment determining the terms of the class or series of shares; (4) The date of adoption of the amendment; and (5) A statement that the amendment was adopted by the board of directors.

(a) Before issuing any shares of a class or series created under this section, the state bank shall deliver to the Bank Commissioner for filing the articles of amendment that are effective without shareholder action and provide a copy of the resolutions adopted by the board of directors approving the amendment.

(b) The articles of amendment shall include: (1) The name of the state bank; (2) A statement that the number of shares to be issued under this section are within the number of shares authorized to be issued under the articles of incorporation of the state bank; (3) The text of the amendment determining the terms of the class or series of shares; (4) The date of adoption of the amendment; and (5) A statement that the amendment was adopted by the board of directors.

(1) The name of the state bank;

(2) A statement that the number of shares to be issued under this section are within the number of shares authorized to be issued under the articles of incorporation of the state bank;

(3) The text of the amendment determining the terms of the class or series of shares;

(4) The date of adoption of the amendment; and

(5) A statement that the amendment was adopted by the board of directors.

(2) (A) The voting rights of any class of stock may be denied or restricted, except that the holder of stock belonging to a class of stock issued as nonvoting shall be entitled to vote in respect to a dissolution or a merger or consolidation, or in respect to any proposal that would adversely affect the preferences, privileges, and other rights annexed to the shares. (B) A stockholder's right to vote under Arkansas Constitution, Article 12, § 8, upon a proposal to increase the stock of the state bank may not be abridged.

(A) The voting rights of any class of stock may be denied or restricted, except that the holder of stock belonging to a class of stock issued as nonvoting shall be entitled to vote in respect to a dissolution or a merger or consolidation, or in respect to any proposal that would adversely affect the preferences, privileges, and other rights annexed to the shares.

(B) A stockholder's right to vote under Arkansas Constitution, Article 12, § 8, upon a proposal to increase the stock of the state bank may not be abridged.

(b) (1) Unless prohibited by the articles of agreement, or an amendment thereto, or by bylaws, a state bank may issue a certificate for a fractional share or, by action of its board of directors, may issue, in lieu thereof, scrip in bearer or registered form which shall entitle the holder to receive a certificate for a full share upon the surrender of the scrip aggregating a full share. (2) Unless otherwise provided in the articles of agreement or in an amendment thereto, or in the bylaws, a fractional share shall, but scrip shall not, entitle the holder to exercise voting rights, to receive dividends thereon, and to participate in any of the assets of the corporation in the event of liquidation. (3) When scrip is issued, the directors may provide that it shall become void if not exchanged for certificates representing full shares before a specified date, or the board may provide that the shares for which the scrip is exchangeable may be sold by the state bank and the proceeds thereof distributed to the holders of the scrip.

(1) Unless prohibited by the articles of agreement, or an amendment thereto, or by bylaws, a state bank may issue a certificate for a fractional share or, by action of its board of directors, may issue, in lieu thereof, scrip in bearer or registered form which shall entitle the holder to receive a certificate for a full share upon the surrender of the scrip aggregating a full share.

(2) Unless otherwise provided in the articles of agreement or in an amendment thereto, or in the bylaws, a fractional share shall, but scrip shall not, entitle the holder to exercise voting rights, to receive dividends thereon, and to participate in any of the assets of the corporation in the event of liquidation.

(3) When scrip is issued, the directors may provide that it shall become void if not exchanged for certificates representing full shares before a specified date, or the board may provide that the shares for which the scrip is exchangeable may be sold by the state bank and the proceeds thereof distributed to the holders of the scrip.

Amended by Act 2017, No. 548,§ 6, eff. 3/21/2017.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-81-120 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-120
Life insurance - Unnamed beneficiaries prohibited
Status: in_force

(a) No life insurance policy shall be issued or delivered in this state if it provides that on the death of anyone not specifically named therein, the owner or beneficiary of the policy shall receive the payment or granting of anything of value. (b) This provision shall not be deemed to prohibit: (1) The payment to policyholders or beneficiaries of sums representing in whole or in part gains to the insurer from mortality either in general or as resulting from particular classifications of policies; (2) Family policies insuring unspecified members of a family; or (3) Payments to unspecified beneficiaries of a class named by the insured. Acts 1959, No. 148, § 345; 1977, No. 789, § 7; A.S.A. 1947, § 66-3336.

(a) No life insurance policy shall be issued or delivered in this state if it provides that on the death of anyone not specifically named therein, the owner or beneficiary of the policy shall receive the payment or granting of anything of value.

(b) This provision shall not be deemed to prohibit: (1) The payment to policyholders or beneficiaries of sums representing in whole or in part gains to the insurer from mortality either in general or as resulting from particular classifications of policies; (2) Family policies insuring unspecified members of a family; or (3) Payments to unspecified beneficiaries of a class named by the insured.

(1) The payment to policyholders or beneficiaries of sums representing in whole or in part gains to the insurer from mortality either in general or as resulting from particular classifications of policies;

(2) Family policies insuring unspecified members of a family; or

(3) Payments to unspecified beneficiaries of a class named by the insured.

Acts 1959, No. 148, § 345; 1977, No. 789, § 7; A.S.A. 1947, § 66-3336.
Ark. Code Ann. § 23-4-905 — AR Code / Title 23 / Chapter 4 / Subchapter 9 / Section 23-4-905
Petition for relief from rate change - Effect
Status: in_force

If, by the effective date of the proposed change in rates and charges, the Arkansas Public Service Commission has received petitions from fewer than fifteen percent (15%) of the member-consumers requesting that the commission apply rate case procedures, then the commission shall immediately certify that fact to the co-op. The proposed rates and charges shall become effective as published in the notice to the member-consumers. Rates and charges so established shall be in effect for not less than one (1) year, subject to the procedure provided for in § 23-4-906 . If, on or before the effective date of the proposed change in rates and charges, the commission has received petitions from ten percent (10%) of the member-consumers, then the commission shall notify the co-op that it will apply rate case procedures. Acts 1987, No. 821, § 4.

If, by the effective date of the proposed change in rates and charges, the Arkansas Public Service Commission has received petitions from fewer than fifteen percent (15%) of the member-consumers requesting that the commission apply rate case procedures, then the commission shall immediately certify that fact to the co-op. The proposed rates and charges shall become effective as published in the notice to the member-consumers. Rates and charges so established shall be in effect for not less than one (1) year, subject to the procedure provided for in § 23-4-906 . If, on or before the effective date of the proposed change in rates and charges, the commission has received petitions from ten percent (10%) of the member-consumers, then the commission shall notify the co-op that it will apply rate case procedures.

Acts 1987, No. 821, § 4.
Ark. Code Ann. § 23-17-233 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-233
Nonliability of members and shareholders for debts of cooperatives
Status: in_force

No member or shareholder shall be liable or responsible for any debts of the cooperative, and the property of the members and shareholders shall not be subject to execution therefor. Acts 1951, No. 51, § 34; A.S.A. 1947, § 77-1634.

No member or shareholder shall be liable or responsible for any debts of the cooperative, and the property of the members and shareholders shall not be subject to execution therefor.

Acts 1951, No. 51, § 34; A.S.A. 1947, § 77-1634.
Ark. Code Ann. § 23-61-205 — AR Code / Title 23 / Chapter 61 / Subchapter 2 / Section 23-61-205
Examination reports
Status: in_force

(a) (1) The Insurance Commissioner or his or her examiner shall make a full and true written report of each examination, which shall comprise only facts appearing upon the books, records, or other documents of the insurer, its agents, or other persons examined, or as ascertained from the sworn testimony of its officers or agents or other persons examined concerning its affairs, and shall include such conclusions and recommendations as may reasonably be warranted from the facts. (2) (A) No later than sixty (60) days following completion of the examination, the examiner in charge shall file with the State Insurance Department a verified written report of the examination under oath. (B) Upon receipt of the verified report, the State Insurance Department shall transmit the report to the company examined, together with a notice which shall afford the company examined twenty (20) days to make a written submission or rebuttal with respect to any matters contained in the examination report. (C) For good cause shown, the commissioner may grant an extension of time to the company to review the verified report. (3) Within thirty (30) days after the end of the period allowed for the receipt of written submissions or rebuttals, the commissioner shall fully consider and review the report, together with any written submissions or rebuttals and any relevant portions of the examiners' work papers, and enter an order: (A) Adopting the examination report as filed or with modification or corrections. If the examination report reveals that the company is operating in violation of any law, rule, or prior order of the commissioner, the commissioner may order the company to take any action the commissioner considers necessary and appropriate to cure such a violation; (B) Rejecting the examination report with directions to the examiners to reopen the examination for purposes of obtaining additional data, documentation, or information, and refiling pursuant to subdivision (a)(2) of this section; or (C) Calling for an investigatory hearing with no less than twenty (20) days' notice to the company for purposes of obtaining additional documentation, data, information, and testimony. (b) (1) All orders entered pursuant to subdivision (a)(3)(A) of this section shall be accompanied by findings and conclusions resulting from the commissioner's consideration and review of the examination report, relevant examiner work papers, and any written submissions or rebuttals. Any such order shall be considered a final administrative decision and may be appealed, pursuant to § 23-61-307 , and shall be served upon the company by certified mail, together with a copy of the adopted examination report. Within twenty (20) days of the issuance of the adopted report, the company shall file affidavits executed by each of its directors stating under oath that they have received a copy of the adopted report and related orders. (2) Any hearing conducted under subdivision (a)(3)(C) of this section by the commissioner or authorized representative shall be conducted as a nonadversarial confidential investigatory proceeding as necessary for the resolution of any inconsistencies, discrepancies, or disputed issues apparent upon the face of the filed examination report or raised by or as a result of the commissioner's review of relevant work papers or by the written submission or rebuttal of the company. Within thirty (30) days of the conclusion of any such hearing, the commissioner shall enter an order pursuant to subdivision (a)(3)(A) of this section. (3) The hearing shall proceed expeditiously with discovery by the company limited to the examiner's work papers which tend to substantiate any assertions set forth in any written submission or rebuttal. The commissioner may issue subpoenas for the attendance of any witnesses or the production of any documents deemed relevant to the investigation, whether under the control of the State Insurance Department, the company, or other persons. The documents produced shall be included in the record, and testimony taken by the commissioner or his or her representative shall be under oath and preserved for the record at the cost of the company. Nothing contained herein shall require the State Insurance Department to disclose any information or records which would indicate or show the existence or content of any investigation or activity of a criminal justice agency. (c) (1) Upon the adoption of the examination report under subdivision (a)(3)(A) of this section, the commissioner shall continue to hold the content of the examination report as private and confidential information for thirty (30) days from the date the company received the order issued by the commissioner to adopt the examination report, except as provided in subdivision (a)(2) of this section. (2) After the expiration of thirty (30) days, the commissioner may open the report for public inspection if a court of competent jurisdiction has not stayed its publication. (d) Nothing contained in this subchapter shall prevent or be construed as prohibiting the commissioner from disclosing the content of an examination report, preliminary examination report or results, or any matter relating thereto, to the insurance department of this or any other state or country, or to law enforcement officials of this or any other state or agency of the United States Government at any time, so long as the agency or office receiving the report or matters relating thereto agrees in writing to hold it confidential and in a manner consistent with this subchapter. Amended by Act 2023, No. 469,§ 1, eff. 8/1/2023. Amended by Act 2019, No. 315,§ 2614, eff. 7/24/2019. Amended by Act 2017, No. 283,§ 6, eff. 8/1/2017. Acts 1959, No. 148, § 34; A.S.A. 1947, § 66-2119; Acts 1991, No. 723, § 6; 2005, No. 506, §§ 7, 8.

(a) (1) The Insurance Commissioner or his or her examiner shall make a full and true written report of each examination, which shall comprise only facts appearing upon the books, records, or other documents of the insurer, its agents, or other persons examined, or as ascertained from the sworn testimony of its officers or agents or other persons examined concerning its affairs, and shall include such conclusions and recommendations as may reasonably be warranted from the facts. (2) (A) No later than sixty (60) days following completion of the examination, the examiner in charge shall file with the State Insurance Department a verified written report of the examination under oath. (B) Upon receipt of the verified report, the State Insurance Department shall transmit the report to the company examined, together with a notice which shall afford the company examined twenty (20) days to make a written submission or rebuttal with respect to any matters contained in the examination report. (C) For good cause shown, the commissioner may grant an extension of time to the company to review the verified report. (3) Within thirty (30) days after the end of the period allowed for the receipt of written submissions or rebuttals, the commissioner shall fully consider and review the report, together with any written submissions or rebuttals and any relevant portions of the examiners' work papers, and enter an order: (A) Adopting the examination report as filed or with modification or corrections. If the examination report reveals that the company is operating in violation of any law, rule, or prior order of the commissioner, the commissioner may order the company to take any action the commissioner considers necessary and appropriate to cure such a violation; (B) Rejecting the examination report with directions to the examiners to reopen the examination for purposes of obtaining additional data, documentation, or information, and refiling pursuant to subdivision (a)(2) of this section; or (C) Calling for an investigatory hearing with no less than twenty (20) days' notice to the company for purposes of obtaining additional documentation, data, information, and testimony.

(1) The Insurance Commissioner or his or her examiner shall make a full and true written report of each examination, which shall comprise only facts appearing upon the books, records, or other documents of the insurer, its agents, or other persons examined, or as ascertained from the sworn testimony of its officers or agents or other persons examined concerning its affairs, and shall include such conclusions and recommendations as may reasonably be warranted from the facts.

(2) (A) No later than sixty (60) days following completion of the examination, the examiner in charge shall file with the State Insurance Department a verified written report of the examination under oath. (B) Upon receipt of the verified report, the State Insurance Department shall transmit the report to the company examined, together with a notice which shall afford the company examined twenty (20) days to make a written submission or rebuttal with respect to any matters contained in the examination report. (C) For good cause shown, the commissioner may grant an extension of time to the company to review the verified report.

(A) No later than sixty (60) days following completion of the examination, the examiner in charge shall file with the State Insurance Department a verified written report of the examination under oath.

(B) Upon receipt of the verified report, the State Insurance Department shall transmit the report to the company examined, together with a notice which shall afford the company examined twenty (20) days to make a written submission or rebuttal with respect to any matters contained in the examination report.

(C) For good cause shown, the commissioner may grant an extension of time to the company to review the verified report.

(3) Within thirty (30) days after the end of the period allowed for the receipt of written submissions or rebuttals, the commissioner shall fully consider and review the report, together with any written submissions or rebuttals and any relevant portions of the examiners' work papers, and enter an order: (A) Adopting the examination report as filed or with modification or corrections. If the examination report reveals that the company is operating in violation of any law, rule, or prior order of the commissioner, the commissioner may order the company to take any action the commissioner considers necessary and appropriate to cure such a violation; (B) Rejecting the examination report with directions to the examiners to reopen the examination for purposes of obtaining additional data, documentation, or information, and refiling pursuant to subdivision (a)(2) of this section; or (C) Calling for an investigatory hearing with no less than twenty (20) days' notice to the company for purposes of obtaining additional documentation, data, information, and testimony.

(A) Adopting the examination report as filed or with modification or corrections. If the examination report reveals that the company is operating in violation of any law, rule, or prior order of the commissioner, the commissioner may order the company to take any action the commissioner considers necessary and appropriate to cure such a violation;

(B) Rejecting the examination report with directions to the examiners to reopen the examination for purposes of obtaining additional data, documentation, or information, and refiling pursuant to subdivision (a)(2) of this section; or

(C) Calling for an investigatory hearing with no less than twenty (20) days' notice to the company for purposes of obtaining additional documentation, data, information, and testimony.

(b) (1) All orders entered pursuant to subdivision (a)(3)(A) of this section shall be accompanied by findings and conclusions resulting from the commissioner's consideration and review of the examination report, relevant examiner work papers, and any written submissions or rebuttals. Any such order shall be considered a final administrative decision and may be appealed, pursuant to § 23-61-307 , and shall be served upon the company by certified mail, together with a copy of the adopted examination report. Within twenty (20) days of the issuance of the adopted report, the company shall file affidavits executed by each of its directors stating under oath that they have received a copy of the adopted report and related orders. (2) Any hearing conducted under subdivision (a)(3)(C) of this section by the commissioner or authorized representative shall be conducted as a nonadversarial confidential investigatory proceeding as necessary for the resolution of any inconsistencies, discrepancies, or disputed issues apparent upon the face of the filed examination report or raised by or as a result of the commissioner's review of relevant work papers or by the written submission or rebuttal of the company. Within thirty (30) days of the conclusion of any such hearing, the commissioner shall enter an order pursuant to subdivision (a)(3)(A) of this section. (3) The hearing shall proceed expeditiously with discovery by the company limited to the examiner's work papers which tend to substantiate any assertions set forth in any written submission or rebuttal. The commissioner may issue subpoenas for the attendance of any witnesses or the production of any documents deemed relevant to the investigation, whether under the control of the State Insurance Department, the company, or other persons. The documents produced shall be included in the record, and testimony taken by the commissioner or his or her representative shall be under oath and preserved for the record at the cost of the company. Nothing contained herein shall require the State Insurance Department to disclose any information or records which would indicate or show the existence or content of any investigation or activity of a criminal justice agency.

(1) All orders entered pursuant to subdivision (a)(3)(A) of this section shall be accompanied by findings and conclusions resulting from the commissioner's consideration and review of the examination report, relevant examiner work papers, and any written submissions or rebuttals. Any such order shall be considered a final administrative decision and may be appealed, pursuant to § 23-61-307 , and shall be served upon the company by certified mail, together with a copy of the adopted examination report. Within twenty (20) days of the issuance of the adopted report, the company shall file affidavits executed by each of its directors stating under oath that they have received a copy of the adopted report and related orders.

(2) Any hearing conducted under subdivision (a)(3)(C) of this section by the commissioner or authorized representative shall be conducted as a nonadversarial confidential investigatory proceeding as necessary for the resolution of any inconsistencies, discrepancies, or disputed issues apparent upon the face of the filed examination report or raised by or as a result of the commissioner's review of relevant work papers or by the written submission or rebuttal of the company. Within thirty (30) days of the conclusion of any such hearing, the commissioner shall enter an order pursuant to subdivision (a)(3)(A) of this section.

(3) The hearing shall proceed expeditiously with discovery by the company limited to the examiner's work papers which tend to substantiate any assertions set forth in any written submission or rebuttal. The commissioner may issue subpoenas for the attendance of any witnesses or the production of any documents deemed relevant to the investigation, whether under the control of the State Insurance Department, the company, or other persons. The documents produced shall be included in the record, and testimony taken by the commissioner or his or her representative shall be under oath and preserved for the record at the cost of the company. Nothing contained herein shall require the State Insurance Department to disclose any information or records which would indicate or show the existence or content of any investigation or activity of a criminal justice agency.

(c) (1) Upon the adoption of the examination report under subdivision (a)(3)(A) of this section, the commissioner shall continue to hold the content of the examination report as private and confidential information for thirty (30) days from the date the company received the order issued by the commissioner to adopt the examination report, except as provided in subdivision (a)(2) of this section. (2) After the expiration of thirty (30) days, the commissioner may open the report for public inspection if a court of competent jurisdiction has not stayed its publication.

(1) Upon the adoption of the examination report under subdivision (a)(3)(A) of this section, the commissioner shall continue to hold the content of the examination report as private and confidential information for thirty (30) days from the date the company received the order issued by the commissioner to adopt the examination report, except as provided in subdivision (a)(2) of this section.

(2) After the expiration of thirty (30) days, the commissioner may open the report for public inspection if a court of competent jurisdiction has not stayed its publication.

(d) Nothing contained in this subchapter shall prevent or be construed as prohibiting the commissioner from disclosing the content of an examination report, preliminary examination report or results, or any matter relating thereto, to the insurance department of this or any other state or country, or to law enforcement officials of this or any other state or agency of the United States Government at any time, so long as the agency or office receiving the report or matters relating thereto agrees in writing to hold it confidential and in a manner consistent with this subchapter.

Amended by Act 2023, No. 469,§ 1, eff. 8/1/2023.

Amended by Act 2019, No. 315,§ 2614, eff. 7/24/2019.

Amended by Act 2017, No. 283,§ 6, eff. 8/1/2017.

Acts 1959, No. 148, § 34; A.S.A. 1947, § 66-2119; Acts 1991, No. 723, § 6; 2005, No. 506, §§ 7, 8.
Ark. Code Ann. § 23-83-113 — AR Code / Title 23 / Chapter 83 / Section 23-83-113
Insurability provision
Status: in_force

The group policy shall contain a provision setting forth the conditions, if any, under which the insurer reserves the right to require a person eligible for insurance to furnish evidence of individual insurability satisfactory to the insurer as a condition to part or all of his or her coverage. Acts 1981, No. 898, § 13; A.S.A. 1947, § 66-3513.

The group policy shall contain a provision setting forth the conditions, if any, under which the insurer reserves the right to require a person eligible for insurance to furnish evidence of individual insurability satisfactory to the insurer as a condition to part or all of his or her coverage.

Acts 1981, No. 898, § 13; A.S.A. 1947, § 66-3513.
Ark. Code Ann. § 23-3-402 — AR Code / Title 23 / Chapter 3 / Subchapter 4 / Section 23-3-402
Legislative findings
Status: in_force

The General Assembly finds that the United States is confronted with a severe and very real energy crisis. Simply stated, the demand for fuels has outstripped the available supplies. The President of the United States has established energy conservation as a high-priority national goal and has called on all Americans to participate in and perhaps make sacrifices toward attaining that goal. The General Assembly recognizes that enormous amounts of energy are wasted by consumers of all classes and economic levels due to inadequate insulation of buildings and other inefficiencies in the use of energy. The overriding public interest in the conservation of natural gas and oil, as well as the use of alternative forms of energy, is indisputable. Acts 1977, No. 748, § 2; A.S.A. 1947, § 73-2502.

The General Assembly finds that the United States is confronted with a severe and very real energy crisis. Simply stated, the demand for fuels has outstripped the available supplies. The President of the United States has established energy conservation as a high-priority national goal and has called on all Americans to participate in and perhaps make sacrifices toward attaining that goal. The General Assembly recognizes that enormous amounts of energy are wasted by consumers of all classes and economic levels due to inadequate insulation of buildings and other inefficiencies in the use of energy. The overriding public interest in the conservation of natural gas and oil, as well as the use of alternative forms of energy, is indisputable.

Acts 1977, No. 748, § 2; A.S.A. 1947, § 73-2502.
Ark. Code Ann. § 23-119-103 — AR Code / Title 23 / Chapter 119 / Section 23-119-103
Permit - application
Status: in_force

(a) A digital asset mining business shall not operate in Arkansas without a valid permit from the Oil and Gas Commission under this chapter. (b) The commission shall establish the application for a permit for a digital asset mining businesses to operate. (c) The issuance of a digital asset mining business permit shall be contingent upon compliance with all applicable state laws, including without limitation the Arkansas Data Centers Act of 2023, § 14-1-601 et seq. Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.

(a) A digital asset mining business shall not operate in Arkansas without a valid permit from the Oil and Gas Commission under this chapter.

(b) The commission shall establish the application for a permit for a digital asset mining businesses to operate.

(c) The issuance of a digital asset mining business permit shall be contingent upon compliance with all applicable state laws, including without limitation the Arkansas Data Centers Act of 2023, § 14-1-601 et seq.

Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Ark. Code Ann. § 23-69-128 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-128
Transfer of stock
Status: in_force

The provisions of chapter 8 of the Uniform Commercial Code, § 4-8-101 et seq., to the extent applicable, shall apply as to stock of a domestic stock insurer. Acts 1959, No. 148, § 481; A.S.A. 1947, § 66-4229.

The provisions of chapter 8 of the Uniform Commercial Code, § 4-8-101 et seq., to the extent applicable, shall apply as to stock of a domestic stock insurer.

Acts 1959, No. 148, § 481; A.S.A. 1947, § 66-4229.
Ark. Code Ann. § 23-4-718 — AR Code / Title 23 / Chapter 4 / Subchapter 7 / Section 23-4-718
Access to railroad books by department - Penalties
Status: in_force

(a) (1) The Arkansas Department of Transportation shall have the right at such times as the department deems necessary to inspect the books and papers of any railroad company and to examine under oath any officer, agent, or employee of the railroad in relation to the business and affairs of the railroad. (2) If any railroad refuses to permit the department to examine its books and papers, the railroad company, for each offense, shall pay to the State of Arkansas not less than one hundred dollars ($100) nor more than five hundred dollars ($500) for each day it shall so fail and refuse. (b) Any officer, agent, or employee of any railroad company who, upon proper demand, shall fail or refuse to exhibit to the department any book or paper of such a railroad company which is in the possession or under the control of the officer, agent, or employee shall be deemed guilty of a misdemeanor and upon conviction in any court having jurisdiction shall be fined for each offense a sum not less than one hundred dollars ($100) nor more than five hundred dollars ($500). Amended by Act 2017, No. 707,§ 142, eff. 8/1/2017. Acts 1899, No. 53, §§ 25, 26, p. 82; C. & M. Dig., §§ 1625, 1626; Pope's Dig., §§ 1947, 1948; A.S.A. 1947, §§ 73-1524, 73-1525.

(a) (1) The Arkansas Department of Transportation shall have the right at such times as the department deems necessary to inspect the books and papers of any railroad company and to examine under oath any officer, agent, or employee of the railroad in relation to the business and affairs of the railroad. (2) If any railroad refuses to permit the department to examine its books and papers, the railroad company, for each offense, shall pay to the State of Arkansas not less than one hundred dollars ($100) nor more than five hundred dollars ($500) for each day it shall so fail and refuse.

(1) The Arkansas Department of Transportation shall have the right at such times as the department deems necessary to inspect the books and papers of any railroad company and to examine under oath any officer, agent, or employee of the railroad in relation to the business and affairs of the railroad.

(2) If any railroad refuses to permit the department to examine its books and papers, the railroad company, for each offense, shall pay to the State of Arkansas not less than one hundred dollars ($100) nor more than five hundred dollars ($500) for each day it shall so fail and refuse.

(b) Any officer, agent, or employee of any railroad company who, upon proper demand, shall fail or refuse to exhibit to the department any book or paper of such a railroad company which is in the possession or under the control of the officer, agent, or employee shall be deemed guilty of a misdemeanor and upon conviction in any court having jurisdiction shall be fined for each offense a sum not less than one hundred dollars ($100) nor more than five hundred dollars ($500).

Amended by Act 2017, No. 707,§ 142, eff. 8/1/2017.

Acts 1899, No. 53, §§ 25, 26, p. 82; C. & M. Dig., §§ 1625, 1626; Pope's Dig., §§ 1947, 1948; A.S.A. 1947, §§ 73-1524, 73-1525.
Ark. Code Ann. § 23-79-309 — AR Code / Title 23 / Chapter 79 / Subchapter 3 / Section 23-79-309
Administrative procedures - Appeals
Status: in_force

(a) Administrative procedures exercised by the Insurance Commissioner under this subchapter shall be in accordance with §§ 23-61-303 - 23-61-306 . (b) Appeals from orders of the commissioner made under this subchapter shall be made in accordance with § 23-61-307 . Acts 1987, No. 204, § 7.

(a) Administrative procedures exercised by the Insurance Commissioner under this subchapter shall be in accordance with §§ 23-61-303 - 23-61-306 .

(b) Appeals from orders of the commissioner made under this subchapter shall be made in accordance with § 23-61-307 .

Acts 1987, No. 204, § 7.
Ark. Code Ann. § 23-18-908 — AR Code / Title 23 / Chapter 18 / Subchapter 9 / Section 23-18-908
Choice of law - Conflicts
Status: in_force

(a) (1) The law governing the validity, enforceability, attachment, perfection, priority, exercise of remedies, and venue with respect to the sale, assignment, or transfer of an interest or right or the creation of a security interest in any storm recovery property shall be exclusively the laws of this state, without applying this state's law on conflicts of laws and notwithstanding any contrary contractual provision. (2) The validity, enforceability, attachment, perfection, priority, and exercise of remedies with respect to the sale, assignment, or transfer of an interest or right or the creation of a security interest in any storm recovery property shall be governed by this subchapter, and solely to the extent not addressed by this subchapter, by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., and other laws of this state. (b) In the event of conflict between this subchapter and any other law regarding the attachment, creation, perfection, the effect of perfection, or priority of, and sale, assignment, or transfer of, or security interest in, storm recovery property, or the exercise of remedies with respect thereto, this subchapter shall govern to the extent of the conflict. Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021. Acts 2009, No. 729, § 1.

(a) (1) The law governing the validity, enforceability, attachment, perfection, priority, exercise of remedies, and venue with respect to the sale, assignment, or transfer of an interest or right or the creation of a security interest in any storm recovery property shall be exclusively the laws of this state, without applying this state's law on conflicts of laws and notwithstanding any contrary contractual provision. (2) The validity, enforceability, attachment, perfection, priority, and exercise of remedies with respect to the sale, assignment, or transfer of an interest or right or the creation of a security interest in any storm recovery property shall be governed by this subchapter, and solely to the extent not addressed by this subchapter, by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., and other laws of this state.

(1) The law governing the validity, enforceability, attachment, perfection, priority, exercise of remedies, and venue with respect to the sale, assignment, or transfer of an interest or right or the creation of a security interest in any storm recovery property shall be exclusively the laws of this state, without applying this state's law on conflicts of laws and notwithstanding any contrary contractual provision.

(2) The validity, enforceability, attachment, perfection, priority, and exercise of remedies with respect to the sale, assignment, or transfer of an interest or right or the creation of a security interest in any storm recovery property shall be governed by this subchapter, and solely to the extent not addressed by this subchapter, by the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq., and other laws of this state.

(b) In the event of conflict between this subchapter and any other law regarding the attachment, creation, perfection, the effect of perfection, or priority of, and sale, assignment, or transfer of, or security interest in, storm recovery property, or the exercise of remedies with respect thereto, this subchapter shall govern to the extent of the conflict.

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

Acts 2009, No. 729, § 1.
Ark. Code Ann. § 23-62-308 — AR Code / Title 23 / Chapter 62 / Subchapter 3 / Section 23-62-308
Rules
Status: in_force

(a) The Insurance Commissioner may adopt rules implementing this subchapter. (b) The Insurance Commissioner may adopt rules: (1) Applicable to a reinsurance arrangement that relates to: (A) A life insurance policy with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits; (B) A universal life insurance policy with provisions resulting in the ability of a policyholder to keep a policy in force over a secondary guarantee period; (C) A variable annuity with guaranteed death or living benefits; (D) A long-term care insurance policy; or (E) A life or health insurance or annuity product for which the National Association of Insurance Commissioners adopts model regulatory requirements with respect to credit for reinsurance; (2) Applicable to a rule adopted under this section that may apply to a treaty containing: (A) A policy issued on or after January 1, 2015; or (B) A policy issued before January 1, 2015, if risk pertaining to the policy is ceded in connection with the treaty on or after January 1, 2015; and (3) That require a ceding insurer to calculate the amounts or forms of security according to rules promulgated by the Insurance Commissioner. (c) A rule adopted under this section shall not apply to cessions of an assuming insurer: (1) That: (A) Meets the conditions in § 23-62-305(f) ; (B) Is certified in this state; or (C) Maintains at least two hundred fifty million dollars ($250,000,000) in capital and surplus as determined according to the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, as it existed on January 1, 2021, and as adopted by the Insurance Commissioner by rule, excluding the impact of any permitted or prescribed practice; and (2) That is licensed in at least: (A) Twenty-six (26) states; or (B) Ten (10) states, and licensed or accredited in a total of thirty-five (35) states. (d) This section does not limit the general authority of the Insurance Commissioner to promulgate rules. Amended by Act 2021, No. 672,§ 3, eff. 7/1/2021. Amended by Act 2015, No. 1223,§ 4, eff. 7/22/2015, applicable to cessation under reinsurance agreements issued, renewed, or amended on or after six (6) months after the effective date of this act. Acts 1991, No. 723, § 14.

(a) The Insurance Commissioner may adopt rules implementing this subchapter.

(b) The Insurance Commissioner may adopt rules: (1) Applicable to a reinsurance arrangement that relates to: (A) A life insurance policy with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits; (B) A universal life insurance policy with provisions resulting in the ability of a policyholder to keep a policy in force over a secondary guarantee period; (C) A variable annuity with guaranteed death or living benefits; (D) A long-term care insurance policy; or (E) A life or health insurance or annuity product for which the National Association of Insurance Commissioners adopts model regulatory requirements with respect to credit for reinsurance; (2) Applicable to a rule adopted under this section that may apply to a treaty containing: (A) A policy issued on or after January 1, 2015; or (B) A policy issued before January 1, 2015, if risk pertaining to the policy is ceded in connection with the treaty on or after January 1, 2015; and (3) That require a ceding insurer to calculate the amounts or forms of security according to rules promulgated by the Insurance Commissioner.

(1) Applicable to a reinsurance arrangement that relates to: (A) A life insurance policy with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits; (B) A universal life insurance policy with provisions resulting in the ability of a policyholder to keep a policy in force over a secondary guarantee period; (C) A variable annuity with guaranteed death or living benefits; (D) A long-term care insurance policy; or (E) A life or health insurance or annuity product for which the National Association of Insurance Commissioners adopts model regulatory requirements with respect to credit for reinsurance;

(A) A life insurance policy with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits;

(B) A universal life insurance policy with provisions resulting in the ability of a policyholder to keep a policy in force over a secondary guarantee period;

(C) A variable annuity with guaranteed death or living benefits;

(D) A long-term care insurance policy; or

(E) A life or health insurance or annuity product for which the National Association of Insurance Commissioners adopts model regulatory requirements with respect to credit for reinsurance;

(2) Applicable to a rule adopted under this section that may apply to a treaty containing: (A) A policy issued on or after January 1, 2015; or (B) A policy issued before January 1, 2015, if risk pertaining to the policy is ceded in connection with the treaty on or after January 1, 2015; and

(A) A policy issued on or after January 1, 2015; or

(B) A policy issued before January 1, 2015, if risk pertaining to the policy is ceded in connection with the treaty on or after January 1, 2015; and

(3) That require a ceding insurer to calculate the amounts or forms of security according to rules promulgated by the Insurance Commissioner.

(c) A rule adopted under this section shall not apply to cessions of an assuming insurer: (1) That: (A) Meets the conditions in § 23-62-305(f) ; (B) Is certified in this state; or (C) Maintains at least two hundred fifty million dollars ($250,000,000) in capital and surplus as determined according to the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, as it existed on January 1, 2021, and as adopted by the Insurance Commissioner by rule, excluding the impact of any permitted or prescribed practice; and (2) That is licensed in at least: (A) Twenty-six (26) states; or (B) Ten (10) states, and licensed or accredited in a total of thirty-five (35) states.

(1) That: (A) Meets the conditions in § 23-62-305(f) ; (B) Is certified in this state; or (C) Maintains at least two hundred fifty million dollars ($250,000,000) in capital and surplus as determined according to the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, as it existed on January 1, 2021, and as adopted by the Insurance Commissioner by rule, excluding the impact of any permitted or prescribed practice; and

(A) Meets the conditions in § 23-62-305(f) ;

(B) Is certified in this state; or

(C) Maintains at least two hundred fifty million dollars ($250,000,000) in capital and surplus as determined according to the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, as it existed on January 1, 2021, and as adopted by the Insurance Commissioner by rule, excluding the impact of any permitted or prescribed practice; and

(2) That is licensed in at least: (A) Twenty-six (26) states; or (B) Ten (10) states, and licensed or accredited in a total of thirty-five (35) states.

(A) Twenty-six (26) states; or

(B) Ten (10) states, and licensed or accredited in a total of thirty-five (35) states.

(d) This section does not limit the general authority of the Insurance Commissioner to promulgate rules.

Amended by Act 2021, No. 672,§ 3, eff. 7/1/2021.

Amended by Act 2015, No. 1223,§ 4, eff. 7/22/2015, applicable to cessation under reinsurance agreements issued, renewed, or amended on or after six (6) months after the effective date of this act.

Acts 1991, No. 723, § 14.
Ark. Code Ann. § 23-99-422 — AR Code / Title 23 / Chapter 99 / Subchapter 4 / Section 23-99-422
Benefits for mental illness or substance use disorders delivered through psychiatric collaborative care model - Definitions - Rules
Status: in_force

(a) As used in this section: (1) (A) "Healthcare insurer" means an insurance company, hospital and medical service corporation, or health maintenance organization issuing or delivering health benefit plans in this state and subject to the following laws: (i) The Arkansas Insurance Code; (ii) Section 23-76-101 et seq., pertaining to health maintenance organizations; and (iii) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; (B) "Healthcare insurer" does not mean the Arkansas Medicaid Program and Medicaid services provided under the Arkansas Medicaid Program if those services are managed or reimbursed by another healthcare insurer or a risk-based provider organization; and (2) "Psychiatric collaborative care model" means the delivery of care that is: (A) An evidence-based, integrated behavioral health service delivery method described at 81 Fed. Reg. 80230-80239, as it existed on March 31, 2023, and the MLN Booklet for Behavioral Health Integration Services published by the Centers for Medicare & Medicaid Services, as it existed on March 31, 2023; and (B) A method typically used by a primary care team consisting of a primary care provider and a care manager who works in collaboration with a psychiatric consultant, including without limitation a psychiatrist. (b) A healthcare insurer that provides benefits for the treatment of mental illness or substance use disorders shall provide reimbursement for those benefits if the benefits are delivered through a psychiatric collaborative care model. (c) The care provided by a primary care team shall: (1) Be directed by the primary care team; (2) Include structured care management with regular assessments of clinical status using validated tools; and (3) Include modification of treatment, as appropriate. (d) A psychiatric consultant who participates in a primary care team shall: (1) Provide regular consultations to the primary care team; (2) Review the clinical status and care of the covered person; and (3) Make recommendations. (e) (1) A healthcare insurer may deny reimbursement for healthcare services delivered through a psychiatric collaborative care model on the grounds of medical necessity only if the medical necessity determinations are in compliance with state law and the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, Pub. L. No. 110-343, § 511 et seq. (2) For care provided through a psychiatric collaborative care model, a healthcare insurer shall not: (A) Place a benefit limitation or cap on the amount of time, number of units, or dollar payments for care manager activities in any month in a manner that is contrary to state law or the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, Pub. L. No. 110-343, § 511 et seq.; (B) Limit the ability of federally qualified health centers or rural health clinics to receive reimbursement; (C) Impose any licensure requirements enacted by state or federal law for a care manager; (D) Limit the age of a patient for whom the care is a covered service; or (E) Limit coverage to a patient with a specific diagnosis. (f) (1) The Arkansas Medicaid Program may: (A) Apply for a grant for a psychiatric collaborative care model; and (B) Work in consultation with nongovernmental entities that are recognized to have expertise in psychiatric collaborative care models. (2) Beginning on September 1, 2023, and on a quarterly basis thereafter, the Arkansas Medicaid Program shall report to the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce concerning the progress and activities under subdivision (f)(1) of this section. (g) The Insurance Commissioner may promulgate rules necessary to implement this section. Added by Act 2023, No. 615,§ 1, eff. 10/1/2023.

(a) As used in this section: (1) (A) "Healthcare insurer" means an insurance company, hospital and medical service corporation, or health maintenance organization issuing or delivering health benefit plans in this state and subject to the following laws: (i) The Arkansas Insurance Code; (ii) Section 23-76-101 et seq., pertaining to health maintenance organizations; and (iii) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; (B) "Healthcare insurer" does not mean the Arkansas Medicaid Program and Medicaid services provided under the Arkansas Medicaid Program if those services are managed or reimbursed by another healthcare insurer or a risk-based provider organization; and (2) "Psychiatric collaborative care model" means the delivery of care that is: (A) An evidence-based, integrated behavioral health service delivery method described at 81 Fed. Reg. 80230-80239, as it existed on March 31, 2023, and the MLN Booklet for Behavioral Health Integration Services published by the Centers for Medicare & Medicaid Services, as it existed on March 31, 2023; and (B) A method typically used by a primary care team consisting of a primary care provider and a care manager who works in collaboration with a psychiatric consultant, including without limitation a psychiatrist.

(1) (A) "Healthcare insurer" means an insurance company, hospital and medical service corporation, or health maintenance organization issuing or delivering health benefit plans in this state and subject to the following laws: (i) The Arkansas Insurance Code; (ii) Section 23-76-101 et seq., pertaining to health maintenance organizations; and (iii) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; (B) "Healthcare insurer" does not mean the Arkansas Medicaid Program and Medicaid services provided under the Arkansas Medicaid Program if those services are managed or reimbursed by another healthcare insurer or a risk-based provider organization; and

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

(i) The Arkansas Insurance Code;

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

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

(B) "Healthcare insurer" does not mean the Arkansas Medicaid Program and Medicaid services provided under the Arkansas Medicaid Program if those services are managed or reimbursed by another healthcare insurer or a risk-based provider organization; and

(2) "Psychiatric collaborative care model" means the delivery of care that is: (A) An evidence-based, integrated behavioral health service delivery method described at 81 Fed. Reg. 80230-80239, as it existed on March 31, 2023, and the MLN Booklet for Behavioral Health Integration Services published by the Centers for Medicare & Medicaid Services, as it existed on March 31, 2023; and (B) A method typically used by a primary care team consisting of a primary care provider and a care manager who works in collaboration with a psychiatric consultant, including without limitation a psychiatrist.

(A) An evidence-based, integrated behavioral health service delivery method described at 81 Fed. Reg. 80230-80239, as it existed on March 31, 2023, and the MLN Booklet for Behavioral Health Integration Services published by the Centers for Medicare & Medicaid Services, as it existed on March 31, 2023; and

(B) A method typically used by a primary care team consisting of a primary care provider and a care manager who works in collaboration with a psychiatric consultant, including without limitation a psychiatrist.

(b) A healthcare insurer that provides benefits for the treatment of mental illness or substance use disorders shall provide reimbursement for those benefits if the benefits are delivered through a psychiatric collaborative care model.

(c) The care provided by a primary care team shall: (1) Be directed by the primary care team; (2) Include structured care management with regular assessments of clinical status using validated tools; and (3) Include modification of treatment, as appropriate.

(1) Be directed by the primary care team;

(2) Include structured care management with regular assessments of clinical status using validated tools; and

(3) Include modification of treatment, as appropriate.

(d) A psychiatric consultant who participates in a primary care team shall: (1) Provide regular consultations to the primary care team; (2) Review the clinical status and care of the covered person; and (3) Make recommendations.

(1) Provide regular consultations to the primary care team;

(2) Review the clinical status and care of the covered person; and

(3) Make recommendations.

(e) (1) A healthcare insurer may deny reimbursement for healthcare services delivered through a psychiatric collaborative care model on the grounds of medical necessity only if the medical necessity determinations are in compliance with state law and the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, Pub. L. No. 110-343, § 511 et seq. (2) For care provided through a psychiatric collaborative care model, a healthcare insurer shall not: (A) Place a benefit limitation or cap on the amount of time, number of units, or dollar payments for care manager activities in any month in a manner that is contrary to state law or the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, Pub. L. No. 110-343, § 511 et seq.; (B) Limit the ability of federally qualified health centers or rural health clinics to receive reimbursement; (C) Impose any licensure requirements enacted by state or federal law for a care manager; (D) Limit the age of a patient for whom the care is a covered service; or (E) Limit coverage to a patient with a specific diagnosis.

(1) A healthcare insurer may deny reimbursement for healthcare services delivered through a psychiatric collaborative care model on the grounds of medical necessity only if the medical necessity determinations are in compliance with state law and the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, Pub. L. No. 110-343, § 511 et seq.

(2) For care provided through a psychiatric collaborative care model, a healthcare insurer shall not: (A) Place a benefit limitation or cap on the amount of time, number of units, or dollar payments for care manager activities in any month in a manner that is contrary to state law or the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, Pub. L. No. 110-343, § 511 et seq.; (B) Limit the ability of federally qualified health centers or rural health clinics to receive reimbursement; (C) Impose any licensure requirements enacted by state or federal law for a care manager; (D) Limit the age of a patient for whom the care is a covered service; or (E) Limit coverage to a patient with a specific diagnosis.

(A) Place a benefit limitation or cap on the amount of time, number of units, or dollar payments for care manager activities in any month in a manner that is contrary to state law or the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, Pub. L. No. 110-343, § 511 et seq.;

(B) Limit the ability of federally qualified health centers or rural health clinics to receive reimbursement;

(C) Impose any licensure requirements enacted by state or federal law for a care manager;

(D) Limit the age of a patient for whom the care is a covered service; or

(E) Limit coverage to a patient with a specific diagnosis.

(f) (1) The Arkansas Medicaid Program may: (A) Apply for a grant for a psychiatric collaborative care model; and (B) Work in consultation with nongovernmental entities that are recognized to have expertise in psychiatric collaborative care models. (2) Beginning on September 1, 2023, and on a quarterly basis thereafter, the Arkansas Medicaid Program shall report to the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce concerning the progress and activities under subdivision (f)(1) of this section.

(1) The Arkansas Medicaid Program may: (A) Apply for a grant for a psychiatric collaborative care model; and (B) Work in consultation with nongovernmental entities that are recognized to have expertise in psychiatric collaborative care models.

(A) Apply for a grant for a psychiatric collaborative care model; and

(B) Work in consultation with nongovernmental entities that are recognized to have expertise in psychiatric collaborative care models.

(2) Beginning on September 1, 2023, and on a quarterly basis thereafter, the Arkansas Medicaid Program shall report to the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce concerning the progress and activities under subdivision (f)(1) of this section.

(g) The Insurance Commissioner may promulgate rules necessary to implement this section.

Added by Act 2023, No. 615,§ 1, eff. 10/1/2023.
Ark. Code Ann. § 23-79-108 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-108
Return of premium to rejected applicant
Status: in_force

After an insurer rejects or declines to issue a life or accident and health insurance policy, the insurer shall return the premium to the applicant within a reasonable period of time. Acts 1985, No. 793, § 1; A.S.A. 1947, § 66-2027; Acts 2001, No. 1604, § 83.

After an insurer rejects or declines to issue a life or accident and health insurance policy, the insurer shall return the premium to the applicant within a reasonable period of time.

Acts 1985, No. 793, § 1; A.S.A. 1947, § 66-2027; Acts 2001, No. 1604, § 83.
Ark. Code Ann. § 23-76-116 — AR Code / Title 23 / Chapter 76 / Section 23-76-116
Complaint system
Status: in_force

(a) (1) Every health maintenance organization shall establish and maintain a complaint system that has been approved by the Insurance Commissioner to provide reasonable procedures for the resolution of written complaints initiated by enrollees concerning healthcare services. (2) Each health maintenance organization shall submit to the commissioner an annual report in a form prescribed by the commissioner that shall include: (A) A description of the procedures of the complaint system; (B) The total number of complaints handled through the complaint system and a compilation of causes underlying the complaints filed; and (C) The number, amount, and disposition of malpractice claims settled during the year by the health maintenance organization. (b) (1) The health maintenance organization shall maintain records of written complaints filed with it concerning issues and persons other than healthcare services and shall submit to the commissioner a summary report at such times and in such format as the commissioner may require. (2) Complaints involving other persons shall be referred to the persons with a copy to the commissioner. (c) The commissioner may examine the complaint system, subject to the limitation concerning medical records of individuals set forth in § 23-76-122(c) . Amended by Act 2013, No. 1433,§ 6, eff. 8/16/2013. Acts 1975, No. 454, § 12; A.S.A. 1947, § 66-5212; Acts 2001, No. 1605, § 7.

(a) (1) Every health maintenance organization shall establish and maintain a complaint system that has been approved by the Insurance Commissioner to provide reasonable procedures for the resolution of written complaints initiated by enrollees concerning healthcare services. (2) Each health maintenance organization shall submit to the commissioner an annual report in a form prescribed by the commissioner that shall include: (A) A description of the procedures of the complaint system; (B) The total number of complaints handled through the complaint system and a compilation of causes underlying the complaints filed; and (C) The number, amount, and disposition of malpractice claims settled during the year by the health maintenance organization.

(1) Every health maintenance organization shall establish and maintain a complaint system that has been approved by the Insurance Commissioner to provide reasonable procedures for the resolution of written complaints initiated by enrollees concerning healthcare services.

(2) Each health maintenance organization shall submit to the commissioner an annual report in a form prescribed by the commissioner that shall include: (A) A description of the procedures of the complaint system; (B) The total number of complaints handled through the complaint system and a compilation of causes underlying the complaints filed; and (C) The number, amount, and disposition of malpractice claims settled during the year by the health maintenance organization.

(A) A description of the procedures of the complaint system;

(B) The total number of complaints handled through the complaint system and a compilation of causes underlying the complaints filed; and

(C) The number, amount, and disposition of malpractice claims settled during the year by the health maintenance organization.

(b) (1) The health maintenance organization shall maintain records of written complaints filed with it concerning issues and persons other than healthcare services and shall submit to the commissioner a summary report at such times and in such format as the commissioner may require. (2) Complaints involving other persons shall be referred to the persons with a copy to the commissioner.

(1) The health maintenance organization shall maintain records of written complaints filed with it concerning issues and persons other than healthcare services and shall submit to the commissioner a summary report at such times and in such format as the commissioner may require.

(2) Complaints involving other persons shall be referred to the persons with a copy to the commissioner.

(c) The commissioner may examine the complaint system, subject to the limitation concerning medical records of individuals set forth in § 23-76-122(c) .

Amended by Act 2013, No. 1433,§ 6, eff. 8/16/2013.

Acts 1975, No. 454, § 12; A.S.A. 1947, § 66-5212; Acts 2001, No. 1605, § 7.
Ark. Code Ann. § 23-86-502 — AR Code / Title 23 / Chapter 86 / Subchapter 5 / Section 23-86-502
Definitions
Status: in_force

As used in this subchapter: (1) "Commissioner" means the Insurance Commissioner; (2) "Eligible employee" means an employee or individual who is a full-time employee of an eligible employer and is qualified to enroll in a health benefit plan offered through a health insurance purchasing group; (3) "Eligible employer" means an employer employing no more than one hundred ninety-nine (199) eligible employees; (4) (A) "Employer", "employee", and "dependent", unless otherwise defined in this section, shall have the meanings applied to the terms with respect to the coverage under the laws of the state relating to the coverage and the issuer. (B) "Employer" includes a self-employed individual; (5) "Full time" means employees working at least thirty (30) hours per week for an eligible employer; (6) "Health benefits plan" means a group plan, group policy, or group contract for healthcare services, issued or delivered by a health insurance purchasing group health carrier, excluding plans, policies, or contracts providing healthcare benefits or healthcare services pursuant to Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., the Public Employee Workers' Compensation Act, § 21-5-601 et seq., and the no-fault medical and hospital benefit requirements under § 23-89-202 ; (7) "Health insurance purchasing group" means a health insurance purchasing group meeting the requirements of this subchapter; (8) "Health insurance purchasing group health carrier" means a health insurer, health maintenance organization, or hospital and medical service organization; (9) "Health insurer" means an insurer licensed to transact group accident and health insurance in this state; (10) "Health maintenance organization" means a health maintenance organization as defined in § 23-76-102 that is licensed to transact business in this state as a health maintenance organization under § 23-76-107 ; (11) "Hospital and medical service corporation" means a hospital and medical service corporation as defined in § 23-75-101 that is licensed to transact business in this state as a hospital and medical service corporation under § 23-75-107 ; (12) "Large group" means a combination of two (2) or more eligible employers belonging to a health insurance purchasing group; (13) "Member" means an individual enrolled for health benefits coverage in a health insurance purchasing group; (14) "Purchaser" means an eligible employer that has contracted with a health insurance purchasing group for the purchase of health benefits coverage; (15) (A) (i) "State-mandated health benefits" means coverages for healthcare services or benefits required by state law or state rules requiring the reimbursement or utilization related to a specific health illness, injury, or condition of the covered person or the inclusion of a specific category of licensed healthcare practitioner to be provided to the covered person in a health benefits plan for a health-related condition of a covered person. (ii) However, for the purposes of the options provided by this subchapter, state-mandated health benefits that may be excluded, in whole or in part, shall not include any healthcare services or benefits that were mandated by Acts 1971, No. 34. (B) "State-mandated health benefits" does not mean standard provisions or rights required to be present in a health benefit plan pursuant to state law or state rules unrelated to a specific health illness, injury, or condition of the insured, including, but not limited to, those related to continuation of benefits in § 23-86-114 , or entitlement to a conversion policy under § 23-86-115 ; and (16) "Total eligible employees" means five hundred (500) or more eligible employees. Amended by Act 2019, No. 315,§ 2751, eff. 7/24/2019. Acts 2001, No. 925, § 2; 2005, No. 2159, §§ 1, 2.

As used in this subchapter:

(1) "Commissioner" means the Insurance Commissioner;

(2) "Eligible employee" means an employee or individual who is a full-time employee of an eligible employer and is qualified to enroll in a health benefit plan offered through a health insurance purchasing group;

(3) "Eligible employer" means an employer employing no more than one hundred ninety-nine (199) eligible employees;

(4) (A) "Employer", "employee", and "dependent", unless otherwise defined in this section, shall have the meanings applied to the terms with respect to the coverage under the laws of the state relating to the coverage and the issuer. (B) "Employer" includes a self-employed individual;

(A) "Employer", "employee", and "dependent", unless otherwise defined in this section, shall have the meanings applied to the terms with respect to the coverage under the laws of the state relating to the coverage and the issuer.

(B) "Employer" includes a self-employed individual;

(5) "Full time" means employees working at least thirty (30) hours per week for an eligible employer;

(6) "Health benefits plan" means a group plan, group policy, or group contract for healthcare services, issued or delivered by a health insurance purchasing group health carrier, excluding plans, policies, or contracts providing healthcare benefits or healthcare services pursuant to Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., the Public Employee Workers' Compensation Act, § 21-5-601 et seq., and the no-fault medical and hospital benefit requirements under § 23-89-202 ;

(7) "Health insurance purchasing group" means a health insurance purchasing group meeting the requirements of this subchapter;

(8) "Health insurance purchasing group health carrier" means a health insurer, health maintenance organization, or hospital and medical service organization;

(9) "Health insurer" means an insurer licensed to transact group accident and health insurance in this state;

(10) "Health maintenance organization" means a health maintenance organization as defined in § 23-76-102 that is licensed to transact business in this state as a health maintenance organization under § 23-76-107 ;

(11) "Hospital and medical service corporation" means a hospital and medical service corporation as defined in § 23-75-101 that is licensed to transact business in this state as a hospital and medical service corporation under § 23-75-107 ;

(12) "Large group" means a combination of two (2) or more eligible employers belonging to a health insurance purchasing group;

(13) "Member" means an individual enrolled for health benefits coverage in a health insurance purchasing group;

(14) "Purchaser" means an eligible employer that has contracted with a health insurance purchasing group for the purchase of health benefits coverage;

(15) (A) (i) "State-mandated health benefits" means coverages for healthcare services or benefits required by state law or state rules requiring the reimbursement or utilization related to a specific health illness, injury, or condition of the covered person or the inclusion of a specific category of licensed healthcare practitioner to be provided to the covered person in a health benefits plan for a health-related condition of a covered person. (ii) However, for the purposes of the options provided by this subchapter, state-mandated health benefits that may be excluded, in whole or in part, shall not include any healthcare services or benefits that were mandated by Acts 1971, No. 34. (B) "State-mandated health benefits" does not mean standard provisions or rights required to be present in a health benefit plan pursuant to state law or state rules unrelated to a specific health illness, injury, or condition of the insured, including, but not limited to, those related to continuation of benefits in § 23-86-114 , or entitlement to a conversion policy under § 23-86-115 ; and

(A) (i) "State-mandated health benefits" means coverages for healthcare services or benefits required by state law or state rules requiring the reimbursement or utilization related to a specific health illness, injury, or condition of the covered person or the inclusion of a specific category of licensed healthcare practitioner to be provided to the covered person in a health benefits plan for a health-related condition of a covered person. (ii) However, for the purposes of the options provided by this subchapter, state-mandated health benefits that may be excluded, in whole or in part, shall not include any healthcare services or benefits that were mandated by Acts 1971, No. 34.

(i) "State-mandated health benefits" means coverages for healthcare services or benefits required by state law or state rules requiring the reimbursement or utilization related to a specific health illness, injury, or condition of the covered person or the inclusion of a specific category of licensed healthcare practitioner to be provided to the covered person in a health benefits plan for a health-related condition of a covered person.

(ii) However, for the purposes of the options provided by this subchapter, state-mandated health benefits that may be excluded, in whole or in part, shall not include any healthcare services or benefits that were mandated by Acts 1971, No. 34.

(B) "State-mandated health benefits" does not mean standard provisions or rights required to be present in a health benefit plan pursuant to state law or state rules unrelated to a specific health illness, injury, or condition of the insured, including, but not limited to, those related to continuation of benefits in § 23-86-114 , or entitlement to a conversion policy under § 23-86-115 ; and

(16) "Total eligible employees" means five hundred (500) or more eligible employees.

Amended by Act 2019, No. 315,§ 2751, eff. 7/24/2019.

Acts 2001, No. 925, § 2; 2005, No. 2159, §§ 1, 2.
Ark. Code Ann. § 23-100-107 — AR Code / Title 23 / Chapter 100 / Section 23-100-107
State Insurance Department Criminal Investigation Division Trust Fund - Department vouchers and Auditor of State warrants
Status: in_force

(a) All antifraud assessments, penalties, and revenues provided in this chapter received as special revenues for the State Insurance Department Criminal Investigation Division Trust Fund and deposited therein shall be deemed for all purposes special revenues of the fund and of the State Insurance Department for the sole support, operation, and maintenance of the Criminal Investigation Division and when paid into the State Treasury by the Insurance Commissioner, shall be maintained by the State Treasury as the State Insurance Department Criminal Investigation Division Trust Fund, separate from all other funds, and available only for the payment of the expenses of the division pursuant to the appropriations therefor. (b) Upon proper voucher from the commissioner, the Auditor of State shall issue his or her warrant on the Treasurer of State in payment of all salaries and other expenses incurred in the administration of this chapter. Acts 1997, No. 337, § 7; 1999, No. 881, § 22; 2005, No. 1697, § 30.

(a) All antifraud assessments, penalties, and revenues provided in this chapter received as special revenues for the State Insurance Department Criminal Investigation Division Trust Fund and deposited therein shall be deemed for all purposes special revenues of the fund and of the State Insurance Department for the sole support, operation, and maintenance of the Criminal Investigation Division and when paid into the State Treasury by the Insurance Commissioner, shall be maintained by the State Treasury as the State Insurance Department Criminal Investigation Division Trust Fund, separate from all other funds, and available only for the payment of the expenses of the division pursuant to the appropriations therefor.

(b) Upon proper voucher from the commissioner, the Auditor of State shall issue his or her warrant on the Treasurer of State in payment of all salaries and other expenses incurred in the administration of this chapter.

Acts 1997, No. 337, § 7; 1999, No. 881, § 22; 2005, No. 1697, § 30.
Ark. Code Ann. § 23-100-105 — AR Code / Title 23 / Chapter 100 / Section 23-100-105
Insurers' antifraud fees - Deposit into State Insurance Department Criminal Investigation Division Trust Fund
Status: in_force

The Insurance Commissioner shall deposit all antifraud assessments and any penalties assessed under this chapter, as well as any other income received for purposes set out in § 23-100-103(a) , into the State Insurance Department Criminal Investigation Division Trust Fund as special revenues. Acts 1997, No. 337, § 5; 1999, No. 881, § 21; 2005, No. 1697, § 29.

The Insurance Commissioner shall deposit all antifraud assessments and any penalties assessed under this chapter, as well as any other income received for purposes set out in § 23-100-103(a) , into the State Insurance Department Criminal Investigation Division Trust Fund as special revenues.

Acts 1997, No. 337, § 5; 1999, No. 881, § 21; 2005, No. 1697, § 29.
Ark. Code Ann. § 23-74-605 — AR Code / Title 23 / Chapter 74 / Subchapter 6 / Section 23-74-605
Foreign or alien society - Admission
Status: in_force

(a) No foreign or alien society shall transact business in this state without a license issued by the Insurance Commissioner. Any such society desiring admission to this state shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies. Any such society may be licensed to transact business in this state: (1) Upon filing with the commissioner: (A) A duly certified copy of its articles of incorporation; (B) A copy of its bylaws, certified by its secretary or corresponding officer; (C) A power of attorney as prescribed in § 23-74-701 ; (D) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country, satisfactory to the commissioner of this state; (E) Certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business therein; (F) Copies of its certificate forms; and (G) Such other information as the commissioner may deem necessary; and (2) Upon showing that its assets are invested in accordance with the provisions of this chapter. (b) Any foreign or alien society desiring admission to the state shall have the qualifications required of domestic societies organized under this chapter. Acts 1989, No. 881, § 1; 2001, No. 1604, § 73.

(a) No foreign or alien society shall transact business in this state without a license issued by the Insurance Commissioner. Any such society desiring admission to this state shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies. Any such society may be licensed to transact business in this state: (1) Upon filing with the commissioner: (A) A duly certified copy of its articles of incorporation; (B) A copy of its bylaws, certified by its secretary or corresponding officer; (C) A power of attorney as prescribed in § 23-74-701 ; (D) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country, satisfactory to the commissioner of this state; (E) Certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business therein; (F) Copies of its certificate forms; and (G) Such other information as the commissioner may deem necessary; and (2) Upon showing that its assets are invested in accordance with the provisions of this chapter.

(1) Upon filing with the commissioner: (A) A duly certified copy of its articles of incorporation; (B) A copy of its bylaws, certified by its secretary or corresponding officer; (C) A power of attorney as prescribed in § 23-74-701 ; (D) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country, satisfactory to the commissioner of this state; (E) Certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business therein; (F) Copies of its certificate forms; and (G) Such other information as the commissioner may deem necessary; and

(A) A duly certified copy of its articles of incorporation;

(B) A copy of its bylaws, certified by its secretary or corresponding officer;

(C) A power of attorney as prescribed in § 23-74-701 ;

(D) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country, satisfactory to the commissioner of this state;

(E) Certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business therein;

(F) Copies of its certificate forms; and

(G) Such other information as the commissioner may deem necessary; and

(2) Upon showing that its assets are invested in accordance with the provisions of this chapter.

(b) Any foreign or alien society desiring admission to the state shall have the qualifications required of domestic societies organized under this chapter.

Acts 1989, No. 881, § 1; 2001, No. 1604, § 73.
Ark. Code Ann. § 23-61-607 — AR Code / Title 23 / Chapter 61 / Subchapter 6 / Section 23-61-607
Rules
Status: in_force

(a) The Administrator of the Risk Management Division shall have the authority to promulgate rules consistent with this subchapter. (b) All rules shall be subject to the approval of the Insurance Commissioner and conform with the requirements of the Arkansas Administrative Procedure Act, § 25-15-201 et seq. Amended by Act 2019, No. 315,§ 2619, eff. 7/24/2019. Acts 1981, No. 272, § 11; A.S.A. 1947, § 66-5711.

(a) The Administrator of the Risk Management Division shall have the authority to promulgate rules consistent with this subchapter.

(b) All rules shall be subject to the approval of the Insurance Commissioner and conform with the requirements of the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

Amended by Act 2019, No. 315,§ 2619, eff. 7/24/2019.

Acts 1981, No. 272, § 11; A.S.A. 1947, § 66-5711.
Ark. Code Ann. § 23-37-809 — AR Code / Title 23 / Chapter 37 / Subchapter 8 / Section 23-37-809
Prohibited acquisitions
Status: in_force

(a) Except as specifically permitted under § 23-37-812 , no Arkansas association, Arkansas savings and loan holding company, southern region association, or southern region savings and loan holding company having an Arkansas association subsidiary may acquire an association or savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company or an association which is not either an Arkansas association or a southern region association. (b) Except as expressly permitted by federal law, no association which is not either an Arkansas association or a southern region association and no savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company may acquire an Arkansas association, an Arkansas savings and loan holding company, or a southern region savings and loan holding company controlling an Arkansas association. Acts 1987, No. 45, § 8.

(a) Except as specifically permitted under § 23-37-812 , no Arkansas association, Arkansas savings and loan holding company, southern region association, or southern region savings and loan holding company having an Arkansas association subsidiary may acquire an association or savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company or an association which is not either an Arkansas association or a southern region association.

(b) Except as expressly permitted by federal law, no association which is not either an Arkansas association or a southern region association and no savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company may acquire an Arkansas association, an Arkansas savings and loan holding company, or a southern region savings and loan holding company controlling an Arkansas association.

Acts 1987, No. 45, § 8.
Ark. Code Ann. § 23-103-404 — AR Code / Title 23 / Chapter 103 / Subchapter 4 / Section 23-103-404
Authorized activities of title insurers
Status: in_force

(a) Subject to the exceptions and restrictions contained in this subchapter, a title insurer may: (1) Transact only title insurance business; (2) Reinsure title insurance policies; and (3) Unless prohibited by the Insurance Commissioner, perform or cause to be performed ancillary activities whether or not in contemplation of or in conjunction with the issuance of a title insurance report or title insurance policy including: (A) Underwriting title to and furnishing related information about personal property or real property; and (B) Procuring and furnishing information about relevant personal property. (b) Only a title insurer may issue closing protection or issue as an insurer a title insurance policy. Acts 2007, No. 684, § 6; 2011, No. 515, § 3.

(a) Subject to the exceptions and restrictions contained in this subchapter, a title insurer may: (1) Transact only title insurance business; (2) Reinsure title insurance policies; and (3) Unless prohibited by the Insurance Commissioner, perform or cause to be performed ancillary activities whether or not in contemplation of or in conjunction with the issuance of a title insurance report or title insurance policy including: (A) Underwriting title to and furnishing related information about personal property or real property; and (B) Procuring and furnishing information about relevant personal property.

(1) Transact only title insurance business;

(2) Reinsure title insurance policies; and

(3) Unless prohibited by the Insurance Commissioner, perform or cause to be performed ancillary activities whether or not in contemplation of or in conjunction with the issuance of a title insurance report or title insurance policy including: (A) Underwriting title to and furnishing related information about personal property or real property; and (B) Procuring and furnishing information about relevant personal property.

(A) Underwriting title to and furnishing related information about personal property or real property; and

(B) Procuring and furnishing information about relevant personal property.

(b) Only a title insurer may issue closing protection or issue as an insurer a title insurance policy.

Acts 2007, No. 684, § 6; 2011, No. 515, § 3.
Ark. Code Ann. § 23-48-401 — AR Code / Title 23 / Chapter 48 / Subchapter 4 / Section 23-48-401
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Bank subsidiary", with respect to a specified bank holding company, means: (A) Any bank, twenty-five percent (25%) or more of whose shares, excluding shares owned by the United States or by any company wholly owned by the United States, are owned or controlled by the bank holding company; (B) Any bank, the election of a majority of whose directors is controlled in any manner by the bank holding company; (C) Any bank, twenty-five percent (25%) or more of whose voting shares are held by a trustee for the benefit of the shareholders or members of the bank holding company; (D) Any bank, with respect to the management or policies of which, the Board of Governors of the Federal Reserve has determined that the bank holding company has the power, directly or indirectly, to exercise a controlling influence; or (E) Any bank which has been found by the Board of Governors of the Federal Reserve to be controlled by a bank holding company; and (2) "Company" means any corporation, limited liability company, or business trust doing business in this state but shall not include any corporation the majority of the shares of which are owned by the United States or by any state. Acts 1997, No. 89, § 1.

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

(1) "Bank subsidiary", with respect to a specified bank holding company, means: (A) Any bank, twenty-five percent (25%) or more of whose shares, excluding shares owned by the United States or by any company wholly owned by the United States, are owned or controlled by the bank holding company; (B) Any bank, the election of a majority of whose directors is controlled in any manner by the bank holding company; (C) Any bank, twenty-five percent (25%) or more of whose voting shares are held by a trustee for the benefit of the shareholders or members of the bank holding company; (D) Any bank, with respect to the management or policies of which, the Board of Governors of the Federal Reserve has determined that the bank holding company has the power, directly or indirectly, to exercise a controlling influence; or (E) Any bank which has been found by the Board of Governors of the Federal Reserve to be controlled by a bank holding company; and

(A) Any bank, twenty-five percent (25%) or more of whose shares, excluding shares owned by the United States or by any company wholly owned by the United States, are owned or controlled by the bank holding company;

(B) Any bank, the election of a majority of whose directors is controlled in any manner by the bank holding company;

(C) Any bank, twenty-five percent (25%) or more of whose voting shares are held by a trustee for the benefit of the shareholders or members of the bank holding company;

(D) Any bank, with respect to the management or policies of which, the Board of Governors of the Federal Reserve has determined that the bank holding company has the power, directly or indirectly, to exercise a controlling influence; or

(E) Any bank which has been found by the Board of Governors of the Federal Reserve to be controlled by a bank holding company; and

(2) "Company" means any corporation, limited liability company, or business trust doing business in this state but shall not include any corporation the majority of the shares of which are owned by the United States or by any state.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-49-105 — AR Code / Title 23 / Chapter 49 / Section 23-49-105
Notice of possession
Status: in_force

(a) Immediately upon taking possession of the business and property of any institution under § 23-49-102 , the Bank Commissioner shall give notice by: (1) Causing the notice to be served upon the president or other executive officer actively in charge of the business of the institution; (2) Posting the notice at the main entrance at each office of the institution; (3) Filing the notice in the office of the circuit court in the county where the main office of the institution is located; (4) Causing the notice to be mailed to all correspondent banks of the institution. However, if the commissioner fails to provide the notice, the commissioner shall incur no liability thereon; and (5) Causing the notice to be published by one (1) insertion in a newspaper published in the City of Little Rock and having a general and substantially statewide circulation. (b) Upon the filing of the notice under subsection (a) of this section, the clerk shall: (1) Note the filing of the notice upon the records of the court; and (2) Enter the cause as an action upon the dockets of the court under the name and style of "In the matter of the liquidation of __________________" (inserting the name of the institution). (c) The court shall not have authority to review the action of the commissioner in taking possession of the institution's business, property, and records. However, the court may hear and determine all issues and matters pertaining to or connected with the liquidation of the institution, including: (1) The sale of assets or assumption of liabilities of the institution; and (2) The amount of the compensation and necessary expenses of any special representative, assistant, accountant, agent, or attorney employed by the commissioner, or the receiver appointed by the commissioner, as set forth in this chapter. (d) All entries, orders, judgments, and decrees of the court in connection with the liquidation proceedings shall be filed and entered of record in the cause of action. (e) (1) The rights and liabilities of an institution and of its creditors, depositors, shareholders, and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date of the delivery of the notice of possession to the president or other executive officer actively in charge of the business of the institution. (2) In the case of mutual debts or mutual credits of equal priority between the institution and another person, the credits and debts shall be set off and the balance only shall be allowed or paid. (3) The right to setoff shall be determined as of the date of delivery of the notice of possession of the institution to the president or other executive officer actively in charge of the business of the institution. Acts 1997, No. 89, § 1.

(a) Immediately upon taking possession of the business and property of any institution under § 23-49-102 , the Bank Commissioner shall give notice by: (1) Causing the notice to be served upon the president or other executive officer actively in charge of the business of the institution; (2) Posting the notice at the main entrance at each office of the institution; (3) Filing the notice in the office of the circuit court in the county where the main office of the institution is located; (4) Causing the notice to be mailed to all correspondent banks of the institution. However, if the commissioner fails to provide the notice, the commissioner shall incur no liability thereon; and (5) Causing the notice to be published by one (1) insertion in a newspaper published in the City of Little Rock and having a general and substantially statewide circulation.

(1) Causing the notice to be served upon the president or other executive officer actively in charge of the business of the institution;

(2) Posting the notice at the main entrance at each office of the institution;

(3) Filing the notice in the office of the circuit court in the county where the main office of the institution is located;

(4) Causing the notice to be mailed to all correspondent banks of the institution. However, if the commissioner fails to provide the notice, the commissioner shall incur no liability thereon; and

(5) Causing the notice to be published by one (1) insertion in a newspaper published in the City of Little Rock and having a general and substantially statewide circulation.

(b) Upon the filing of the notice under subsection (a) of this section, the clerk shall: (1) Note the filing of the notice upon the records of the court; and (2) Enter the cause as an action upon the dockets of the court under the name and style of "In the matter of the liquidation of __________________" (inserting the name of the institution).

(1) Note the filing of the notice upon the records of the court; and

(2) Enter the cause as an action upon the dockets of the court under the name and style of "In the matter of the liquidation of __________________" (inserting the name of the institution).

(c) The court shall not have authority to review the action of the commissioner in taking possession of the institution's business, property, and records. However, the court may hear and determine all issues and matters pertaining to or connected with the liquidation of the institution, including: (1) The sale of assets or assumption of liabilities of the institution; and (2) The amount of the compensation and necessary expenses of any special representative, assistant, accountant, agent, or attorney employed by the commissioner, or the receiver appointed by the commissioner, as set forth in this chapter.

(1) The sale of assets or assumption of liabilities of the institution; and

(2) The amount of the compensation and necessary expenses of any special representative, assistant, accountant, agent, or attorney employed by the commissioner, or the receiver appointed by the commissioner, as set forth in this chapter.

(d) All entries, orders, judgments, and decrees of the court in connection with the liquidation proceedings shall be filed and entered of record in the cause of action.

(e) (1) The rights and liabilities of an institution and of its creditors, depositors, shareholders, and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date of the delivery of the notice of possession to the president or other executive officer actively in charge of the business of the institution. (2) In the case of mutual debts or mutual credits of equal priority between the institution and another person, the credits and debts shall be set off and the balance only shall be allowed or paid. (3) The right to setoff shall be determined as of the date of delivery of the notice of possession of the institution to the president or other executive officer actively in charge of the business of the institution.

(1) The rights and liabilities of an institution and of its creditors, depositors, shareholders, and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date of the delivery of the notice of possession to the president or other executive officer actively in charge of the business of the institution.

(2) In the case of mutual debts or mutual credits of equal priority between the institution and another person, the credits and debts shall be set off and the balance only shall be allowed or paid.

(3) The right to setoff shall be determined as of the date of delivery of the notice of possession of the institution to the president or other executive officer actively in charge of the business of the institution.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-44-109 — AR Code / Title 23 / Chapter 44 / Section 23-44-109
Written statement to be furnished upon demand - Effect of noncompliance
Status: in_force

(a) Every person shall furnish, upon demand, to any principal from whom that person has executed any contract or sale for the future delivery of any cotton, grain, stocks, or other commodities, a written instrument setting forth the name and location of the exchange, board of trade, or similar institution upon which the contract has been executed, the date of execution of the contract, and the name and address of the persons with whom the contract was executed. (b) If the person shall refuse or neglect to furnish the statement upon reasonable demand, the refusal or neglect shall be prima facie evidence that the contract was an illegal contract within the provisions of § 23-44-105 , and that the person who executed it was engaged in the maintenance and operation of a bucket shop subject to the penalty provided by § 23-44-102 . Acts 1929, No. 208, § 6; Pope's Dig., § 3347; A.S.A. 1947, § 68-1006.

(a) Every person shall furnish, upon demand, to any principal from whom that person has executed any contract or sale for the future delivery of any cotton, grain, stocks, or other commodities, a written instrument setting forth the name and location of the exchange, board of trade, or similar institution upon which the contract has been executed, the date of execution of the contract, and the name and address of the persons with whom the contract was executed.

(b) If the person shall refuse or neglect to furnish the statement upon reasonable demand, the refusal or neglect shall be prima facie evidence that the contract was an illegal contract within the provisions of § 23-44-105 , and that the person who executed it was engaged in the maintenance and operation of a bucket shop subject to the penalty provided by § 23-44-102 .

Acts 1929, No. 208, § 6; Pope's Dig., § 3347; A.S.A. 1947, § 68-1006.
Ark. Code Ann. § 23-48-402 — AR Code / Title 23 / Chapter 48 / Subchapter 4 / Section 23-48-402
Nonapplicability of subchapter
Status: in_force

(a) This subchapter shall not apply to shares of any company: (1) Acquired by a bank holding company or by a bank in satisfaction of a debt previously contracted in good faith; (2) Which are held or acquired by a bank in good faith in a fiduciary capacity; or (3) Which are of the kinds and amounts eligible for investments by state banks under the provisions of § 23-47-401 . (b) (1) Notwithstanding subsection (a) of this section, a bank holding company or a state bank shall dispose of shares acquired in satisfaction of a debt previously contracted in good faith within a period of two (2) years from the date on which they were acquired. (2) (A) The Bank Commissioner is authorized upon application to extend, from time to time for up to an additional three (3) years, for not more than one (1) year at a time, the two-year period referred to in this section for disposing of any shares acquired by a bank holding company, or state bank, in the regular course of securing or collecting a debt previously contracted in good faith, if, in the commissioner's judgment, such an extension would not be detrimental to the public interest, but no extensions shall, in the aggregate, exceed three (3) years. (B) However, a bank holding company shall not be prohibited from purchasing shares from any of its banking subsidiaries, subject to the provisions of §§ 23-48-405 and 23-48-406 . Acts 1997, No. 89, § 1.

(a) This subchapter shall not apply to shares of any company: (1) Acquired by a bank holding company or by a bank in satisfaction of a debt previously contracted in good faith; (2) Which are held or acquired by a bank in good faith in a fiduciary capacity; or (3) Which are of the kinds and amounts eligible for investments by state banks under the provisions of § 23-47-401 .

(1) Acquired by a bank holding company or by a bank in satisfaction of a debt previously contracted in good faith;

(2) Which are held or acquired by a bank in good faith in a fiduciary capacity; or

(3) Which are of the kinds and amounts eligible for investments by state banks under the provisions of § 23-47-401 .

(b) (1) Notwithstanding subsection (a) of this section, a bank holding company or a state bank shall dispose of shares acquired in satisfaction of a debt previously contracted in good faith within a period of two (2) years from the date on which they were acquired. (2) (A) The Bank Commissioner is authorized upon application to extend, from time to time for up to an additional three (3) years, for not more than one (1) year at a time, the two-year period referred to in this section for disposing of any shares acquired by a bank holding company, or state bank, in the regular course of securing or collecting a debt previously contracted in good faith, if, in the commissioner's judgment, such an extension would not be detrimental to the public interest, but no extensions shall, in the aggregate, exceed three (3) years. (B) However, a bank holding company shall not be prohibited from purchasing shares from any of its banking subsidiaries, subject to the provisions of §§ 23-48-405 and 23-48-406 .

(1) Notwithstanding subsection (a) of this section, a bank holding company or a state bank shall dispose of shares acquired in satisfaction of a debt previously contracted in good faith within a period of two (2) years from the date on which they were acquired.

(2) (A) The Bank Commissioner is authorized upon application to extend, from time to time for up to an additional three (3) years, for not more than one (1) year at a time, the two-year period referred to in this section for disposing of any shares acquired by a bank holding company, or state bank, in the regular course of securing or collecting a debt previously contracted in good faith, if, in the commissioner's judgment, such an extension would not be detrimental to the public interest, but no extensions shall, in the aggregate, exceed three (3) years. (B) However, a bank holding company shall not be prohibited from purchasing shares from any of its banking subsidiaries, subject to the provisions of §§ 23-48-405 and 23-48-406 .

(A) The Bank Commissioner is authorized upon application to extend, from time to time for up to an additional three (3) years, for not more than one (1) year at a time, the two-year period referred to in this section for disposing of any shares acquired by a bank holding company, or state bank, in the regular course of securing or collecting a debt previously contracted in good faith, if, in the commissioner's judgment, such an extension would not be detrimental to the public interest, but no extensions shall, in the aggregate, exceed three (3) years.

(B) However, a bank holding company shall not be prohibited from purchasing shares from any of its banking subsidiaries, subject to the provisions of §§ 23-48-405 and 23-48-406 .

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-69-204 — AR Code / Title 23 / Chapter 69 / Subchapter 2 / Section 23-69-204
Statement of owners of equity securities, directors, and officers
Status: in_force

Every person who is directly or indirectly the beneficial owner of more than ten percent (10%) of any class of any equity security of a domestic stock insurance company, or who is a director or officer of a domestic stock insurance company, shall file in the office of the Insurance Commissioner within ten (10) days after he or she becomes a beneficial owner, director, or officer a statement, in such form as the commissioner may prescribe, of the amount of all equity securities of the company of which he or she is the beneficial owner. Within ten (10) days after the close of each calendar month, if there has been a change in the ownership during the month, that person shall file in the office of the commissioner a statement, in such form as the commissioner may prescribe, indicating his or her ownership at the close of the calendar month and such changes in his or her ownership as have occurred during the calendar month. Acts 1965, No. 107, § 1; A.S.A. 1947, § 66-4258.

Every person who is directly or indirectly the beneficial owner of more than ten percent (10%) of any class of any equity security of a domestic stock insurance company, or who is a director or officer of a domestic stock insurance company, shall file in the office of the Insurance Commissioner within ten (10) days after he or she becomes a beneficial owner, director, or officer a statement, in such form as the commissioner may prescribe, of the amount of all equity securities of the company of which he or she is the beneficial owner. Within ten (10) days after the close of each calendar month, if there has been a change in the ownership during the month, that person shall file in the office of the commissioner a statement, in such form as the commissioner may prescribe, indicating his or her ownership at the close of the calendar month and such changes in his or her ownership as have occurred during the calendar month.

Acts 1965, No. 107, § 1; A.S.A. 1947, § 66-4258.
Ark. Code Ann. § 23-95-104 — AR Code / Title 23 / Chapter 95 / Section 23-95-104
Plan for coverage - Requirement
Status: in_force

(a) (1) If the Insurance Commissioner finds after a hearing that in all or in any part of this state, any amount or kind of insurance authorized by §§ 23-62-104 and 23-62-105 is not reasonably available in the voluntary market and that the public interest requires the availability of that insurance, the commissioner shall direct insurers doing business within this state to prepare a voluntary plan which will provide that insurance coverage. (2) The plan shall be submitted to the commissioner within the time he or she designates and, if approved by him or her, may be put into operation. (3) If the plan is not approved by the commissioner or if the plan is not submitted as required, the commissioner may promulgate a plan to provide insurance coverage for any risks in this state which, based on reasonable underwriting standards, are entitled to obtain coverage, but are otherwise unable to obtain coverage in the voluntary market. (b) All orders of the commissioner finding that a line of insurance is not reasonably available in the voluntary market shall consider, to the extent practicable, historical data from the past five (5) years regarding: (1) Market availability; (2) Major trends in policy forms, limits, and deductibles offered; (3) Filed rates for the line if available; (4) Loss ratios, claims severity, and claims frequency on both the state and national levels; (5) Availability of surplus lines coverage; (6) The types of insurers offering the line of insurance in the state; (7) The existence of any residual market programs, market assistance programs, and captive insurance; and (8) Whether alternatives to the creation of a risk-sharing plan are feasible. (c) The commissioner may require licensed insurers and surplus lines companies to report historical data to assist the consideration of the factors contained in subsection (b) of this section. (d) The commissioner shall afford any interested party an opportunity to submit written or oral testimony to assist in the determination required by subsection (a) of this section. (e) The commissioner shall report to the Legislative Council all lines of insurance that he or she determines are not reasonably available in the voluntary market. Acts 1987, No. 896, § 2; 2005, No. 1697, § 24.

(a) (1) If the Insurance Commissioner finds after a hearing that in all or in any part of this state, any amount or kind of insurance authorized by §§ 23-62-104 and 23-62-105 is not reasonably available in the voluntary market and that the public interest requires the availability of that insurance, the commissioner shall direct insurers doing business within this state to prepare a voluntary plan which will provide that insurance coverage. (2) The plan shall be submitted to the commissioner within the time he or she designates and, if approved by him or her, may be put into operation. (3) If the plan is not approved by the commissioner or if the plan is not submitted as required, the commissioner may promulgate a plan to provide insurance coverage for any risks in this state which, based on reasonable underwriting standards, are entitled to obtain coverage, but are otherwise unable to obtain coverage in the voluntary market.

(1) If the Insurance Commissioner finds after a hearing that in all or in any part of this state, any amount or kind of insurance authorized by §§ 23-62-104 and 23-62-105 is not reasonably available in the voluntary market and that the public interest requires the availability of that insurance, the commissioner shall direct insurers doing business within this state to prepare a voluntary plan which will provide that insurance coverage.

(2) The plan shall be submitted to the commissioner within the time he or she designates and, if approved by him or her, may be put into operation.

(3) If the plan is not approved by the commissioner or if the plan is not submitted as required, the commissioner may promulgate a plan to provide insurance coverage for any risks in this state which, based on reasonable underwriting standards, are entitled to obtain coverage, but are otherwise unable to obtain coverage in the voluntary market.

(b) All orders of the commissioner finding that a line of insurance is not reasonably available in the voluntary market shall consider, to the extent practicable, historical data from the past five (5) years regarding: (1) Market availability; (2) Major trends in policy forms, limits, and deductibles offered; (3) Filed rates for the line if available; (4) Loss ratios, claims severity, and claims frequency on both the state and national levels; (5) Availability of surplus lines coverage; (6) The types of insurers offering the line of insurance in the state; (7) The existence of any residual market programs, market assistance programs, and captive insurance; and (8) Whether alternatives to the creation of a risk-sharing plan are feasible.

(1) Market availability;

(2) Major trends in policy forms, limits, and deductibles offered;

(3) Filed rates for the line if available;

(4) Loss ratios, claims severity, and claims frequency on both the state and national levels;

(5) Availability of surplus lines coverage;

(6) The types of insurers offering the line of insurance in the state;

(7) The existence of any residual market programs, market assistance programs, and captive insurance; and

(8) Whether alternatives to the creation of a risk-sharing plan are feasible.

(c) The commissioner may require licensed insurers and surplus lines companies to report historical data to assist the consideration of the factors contained in subsection (b) of this section.

(d) The commissioner shall afford any interested party an opportunity to submit written or oral testimony to assist in the determination required by subsection (a) of this section.

(e) The commissioner shall report to the Legislative Council all lines of insurance that he or she determines are not reasonably available in the voluntary market.

Acts 1987, No. 896, § 2; 2005, No. 1697, § 24.
Ark. Code Ann. § 23-92-509 — AR Code / Title 23 / Chapter 92 / Subchapter 5 / Section 23-92-509
Rules
Status: in_force

(a) (1) The Insurance Commissioner may adopt rules regulating pharmacy benefits managers that are not inconsistent with this subchapter. (2) Rules that the commissioner may adopt under this subchapter include without limitation rules relating to: (A) Licensing; (B) Application fees; (C) Financial solvency requirements; (D) Pharmacy benefits manager network adequacy; (E) Prohibited market conduct practices; (F) Data reporting requirements under § 4-88-803 ; (G) Compliance and enforcement requirements under § 17-92-507 concerning Maximum Allowable Cost Lists; (H) Rebates; (I) Compensation; and (J) Lists of health benefit plans administered by a pharmacy benefits manager in this state. (b) (1) Rules adopted under this subchapter shall set penalties or fines, including without limitation monetary fines, suspension of licensure, and revocation of licensure for violations of this subchapter and rules adopted under this subchapter. (2) (A) The commissioner shall adopt rules relating to a pharmacy benefits manager's network adequacy. (B) The rules described in subdivision (b)(2)(A) of this section shall require that an individual covered by a health benefit plan have access to a community pharmacy at a standard no less strict than the federal standards established under Tricare or Medicare Part D, 42 U.S.C. §§ 1395w-101 - 1395w-154 , as it existed on January 1, 2021, if that standard requires, on average: (i) At least ninety percent (90%) of individuals covered by a health benefit plan in an urban area served by the health benefit plan to live within two (2) miles of a network pharmacy that is a retail community pharmacy; (ii) At least ninety percent (90%) of individuals covered by a health benefit plan in suburban areas served by the health benefit plan to live within five (5) miles of a network pharmacy that is a retail community pharmacy; and (iii) At least seventy percent (70%) of individuals covered by a health benefit plan in a rural area served by the health benefit plan to live within fifteen (15) miles of a network pharmacy that is a retail community pharmacy. (c) (1) In addition to the filing requirements under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and under § 10-3-309 , the State Insurance Department shall file a proposed rule or a proposed amendment to an existing rule under this subchapter with the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce at least thirty (30) days before the expiration of the period for public comment under the Arkansas Administrative Procedure Act, § 25-15-201 et seq. (2) The Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce shall review the proposed rule or proposed amendment to an existing rule within forty-five (45) days of the date the proposed rule or proposed amendment to an existing rule is filed with the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce. (3) (A) If the department adopts an emergency rule under this subchapter, in addition to the filing requirements under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and under § 10-3-309 , the department shall notify the following individuals of the emergency rule and provide each individual with a copy of the rule within five (5) business days of adopting the rule: (i) The Speaker of the House of Representatives; (ii) The President Pro Tempore of the Senate; (iii) The Chair of the Senate Committee on Insurance and Commerce; and (iv) The Chair of the House Committee on Insurance and Commerce. (B) The Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce shall review the emergency rule within forty-five (45) days of the date that the emergency rule is provided to the Chair of the Senate Committee on Insurance and Commerce and the Chair of the House Committee on Insurance and Commerce. Amended by Act 2021, No. 665,§ 7, eff. 7/28/2021. Added by Act 2018EX2, No. 1,§ 1, eff. 3/15/2018. Added by Act 2018EX2, No. 3,§ 1, eff. 3/19/2018.

(a) (1) The Insurance Commissioner may adopt rules regulating pharmacy benefits managers that are not inconsistent with this subchapter. (2) Rules that the commissioner may adopt under this subchapter include without limitation rules relating to: (A) Licensing; (B) Application fees; (C) Financial solvency requirements; (D) Pharmacy benefits manager network adequacy; (E) Prohibited market conduct practices; (F) Data reporting requirements under § 4-88-803 ; (G) Compliance and enforcement requirements under § 17-92-507 concerning Maximum Allowable Cost Lists; (H) Rebates; (I) Compensation; and (J) Lists of health benefit plans administered by a pharmacy benefits manager in this state.

(1) The Insurance Commissioner may adopt rules regulating pharmacy benefits managers that are not inconsistent with this subchapter.

(2) Rules that the commissioner may adopt under this subchapter include without limitation rules relating to: (A) Licensing; (B) Application fees; (C) Financial solvency requirements; (D) Pharmacy benefits manager network adequacy; (E) Prohibited market conduct practices; (F) Data reporting requirements under § 4-88-803 ; (G) Compliance and enforcement requirements under § 17-92-507 concerning Maximum Allowable Cost Lists; (H) Rebates; (I) Compensation; and (J) Lists of health benefit plans administered by a pharmacy benefits manager in this state.

(A) Licensing;

(B) Application fees;

(C) Financial solvency requirements;

(D) Pharmacy benefits manager network adequacy;

(E) Prohibited market conduct practices;

(F) Data reporting requirements under § 4-88-803 ;

(G) Compliance and enforcement requirements under § 17-92-507 concerning Maximum Allowable Cost Lists;

(H) Rebates;

(I) Compensation; and

(J) Lists of health benefit plans administered by a pharmacy benefits manager in this state.

(b) (1) Rules adopted under this subchapter shall set penalties or fines, including without limitation monetary fines, suspension of licensure, and revocation of licensure for violations of this subchapter and rules adopted under this subchapter. (2) (A) The commissioner shall adopt rules relating to a pharmacy benefits manager's network adequacy. (B) The rules described in subdivision (b)(2)(A) of this section shall require that an individual covered by a health benefit plan have access to a community pharmacy at a standard no less strict than the federal standards established under Tricare or Medicare Part D, 42 U.S.C. §§ 1395w-101 - 1395w-154 , as it existed on January 1, 2021, if that standard requires, on average: (i) At least ninety percent (90%) of individuals covered by a health benefit plan in an urban area served by the health benefit plan to live within two (2) miles of a network pharmacy that is a retail community pharmacy; (ii) At least ninety percent (90%) of individuals covered by a health benefit plan in suburban areas served by the health benefit plan to live within five (5) miles of a network pharmacy that is a retail community pharmacy; and (iii) At least seventy percent (70%) of individuals covered by a health benefit plan in a rural area served by the health benefit plan to live within fifteen (15) miles of a network pharmacy that is a retail community pharmacy.

(1) Rules adopted under this subchapter shall set penalties or fines, including without limitation monetary fines, suspension of licensure, and revocation of licensure for violations of this subchapter and rules adopted under this subchapter.

(2) (A) The commissioner shall adopt rules relating to a pharmacy benefits manager's network adequacy. (B) The rules described in subdivision (b)(2)(A) of this section shall require that an individual covered by a health benefit plan have access to a community pharmacy at a standard no less strict than the federal standards established under Tricare or Medicare Part D, 42 U.S.C. §§ 1395w-101 - 1395w-154 , as it existed on January 1, 2021, if that standard requires, on average: (i) At least ninety percent (90%) of individuals covered by a health benefit plan in an urban area served by the health benefit plan to live within two (2) miles of a network pharmacy that is a retail community pharmacy; (ii) At least ninety percent (90%) of individuals covered by a health benefit plan in suburban areas served by the health benefit plan to live within five (5) miles of a network pharmacy that is a retail community pharmacy; and (iii) At least seventy percent (70%) of individuals covered by a health benefit plan in a rural area served by the health benefit plan to live within fifteen (15) miles of a network pharmacy that is a retail community pharmacy.

(A) The commissioner shall adopt rules relating to a pharmacy benefits manager's network adequacy.

(B) The rules described in subdivision (b)(2)(A) of this section shall require that an individual covered by a health benefit plan have access to a community pharmacy at a standard no less strict than the federal standards established under Tricare or Medicare Part D, 42 U.S.C. §§ 1395w-101 - 1395w-154 , as it existed on January 1, 2021, if that standard requires, on average: (i) At least ninety percent (90%) of individuals covered by a health benefit plan in an urban area served by the health benefit plan to live within two (2) miles of a network pharmacy that is a retail community pharmacy; (ii) At least ninety percent (90%) of individuals covered by a health benefit plan in suburban areas served by the health benefit plan to live within five (5) miles of a network pharmacy that is a retail community pharmacy; and (iii) At least seventy percent (70%) of individuals covered by a health benefit plan in a rural area served by the health benefit plan to live within fifteen (15) miles of a network pharmacy that is a retail community pharmacy.

(i) At least ninety percent (90%) of individuals covered by a health benefit plan in an urban area served by the health benefit plan to live within two (2) miles of a network pharmacy that is a retail community pharmacy;

(ii) At least ninety percent (90%) of individuals covered by a health benefit plan in suburban areas served by the health benefit plan to live within five (5) miles of a network pharmacy that is a retail community pharmacy; and

(iii) At least seventy percent (70%) of individuals covered by a health benefit plan in a rural area served by the health benefit plan to live within fifteen (15) miles of a network pharmacy that is a retail community pharmacy.

(c) (1) In addition to the filing requirements under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and under § 10-3-309 , the State Insurance Department shall file a proposed rule or a proposed amendment to an existing rule under this subchapter with the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce at least thirty (30) days before the expiration of the period for public comment under the Arkansas Administrative Procedure Act, § 25-15-201 et seq. (2) The Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce shall review the proposed rule or proposed amendment to an existing rule within forty-five (45) days of the date the proposed rule or proposed amendment to an existing rule is filed with the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce. (3) (A) If the department adopts an emergency rule under this subchapter, in addition to the filing requirements under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and under § 10-3-309 , the department shall notify the following individuals of the emergency rule and provide each individual with a copy of the rule within five (5) business days of adopting the rule: (i) The Speaker of the House of Representatives; (ii) The President Pro Tempore of the Senate; (iii) The Chair of the Senate Committee on Insurance and Commerce; and (iv) The Chair of the House Committee on Insurance and Commerce. (B) The Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce shall review the emergency rule within forty-five (45) days of the date that the emergency rule is provided to the Chair of the Senate Committee on Insurance and Commerce and the Chair of the House Committee on Insurance and Commerce.

(1) In addition to the filing requirements under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and under § 10-3-309 , the State Insurance Department shall file a proposed rule or a proposed amendment to an existing rule under this subchapter with the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce at least thirty (30) days before the expiration of the period for public comment under the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

(2) The Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce shall review the proposed rule or proposed amendment to an existing rule within forty-five (45) days of the date the proposed rule or proposed amendment to an existing rule is filed with the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce.

(3) (A) If the department adopts an emergency rule under this subchapter, in addition to the filing requirements under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and under § 10-3-309 , the department shall notify the following individuals of the emergency rule and provide each individual with a copy of the rule within five (5) business days of adopting the rule: (i) The Speaker of the House of Representatives; (ii) The President Pro Tempore of the Senate; (iii) The Chair of the Senate Committee on Insurance and Commerce; and (iv) The Chair of the House Committee on Insurance and Commerce. (B) The Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce shall review the emergency rule within forty-five (45) days of the date that the emergency rule is provided to the Chair of the Senate Committee on Insurance and Commerce and the Chair of the House Committee on Insurance and Commerce.

(A) If the department adopts an emergency rule under this subchapter, in addition to the filing requirements under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and under § 10-3-309 , the department shall notify the following individuals of the emergency rule and provide each individual with a copy of the rule within five (5) business days of adopting the rule: (i) The Speaker of the House of Representatives; (ii) The President Pro Tempore of the Senate; (iii) The Chair of the Senate Committee on Insurance and Commerce; and (iv) The Chair of the House Committee on Insurance and Commerce.

(i) The Speaker of the House of Representatives;

(ii) The President Pro Tempore of the Senate;

(iii) The Chair of the Senate Committee on Insurance and Commerce; and

(iv) The Chair of the House Committee on Insurance and Commerce.

(B) The Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce shall review the emergency rule within forty-five (45) days of the date that the emergency rule is provided to the Chair of the Senate Committee on Insurance and Commerce and the Chair of the House Committee on Insurance and Commerce.

Amended by Act 2021, No. 665,§ 7, eff. 7/28/2021.

Added by Act 2018EX2, No. 1,§ 1, eff. 3/15/2018.

Added by Act 2018EX2, No. 3,§ 1, eff. 3/19/2018.
Ark. Code Ann. § 23-114-504 — AR Code / Title 23 / Chapter 114 / Subchapter 5 / Section 23-114-504
Use of net proceeds for charitable purposes
Status: in_force

(a) A licensed authorized organization shall devote to the charitable purposes of the licensed authorized organization its net proceeds of games of bingo and raffles. (b) Except as otherwise provided by law, the net proceeds derived from games of bingo and raffles are dedicated to the charitable purposes of the licensed authorized organization only if directed to a cause, need, or activity that is consistent with the federal tax exemption the licensed authorized organization obtained under 26 U.S.C. § 501 , as in existence on January 1, 2007, and under which the organization qualifies as a nonprofit organization as defined by law. If the licensed authorized organization is not required to obtain a federal tax exemption under 26 U.S.C. § 501 , as in existence on January 1, 2007, the licensed authorized organization's net proceeds are dedicated to the charitable purposes of the licensed authorized organization only if directed to a cause, need, or activity that is consistent with the purposes and objectives for which the licensed authorized organization qualifies as a licensed authorized organization. (c) (1) The licensed authorized organization shall make mandatory annual or more frequent disbursements from the bingo and raffle account to the general fund of the licensed authorized organization after providing for appropriate reserves and funds necessary to pay for reasonable and necessary bingo and raffle expenses. (2) Once funds are distributed to the licensed authorized organization general fund under subdivision (c)(1) of this section, no funds shall be returned to the bingo and raffle account except by means of a loan from the licensed authorized organization's general fund to the bingo and raffle account as evidenced by a written instrument. Acts 2007, No. 388, § 1.

(a) A licensed authorized organization shall devote to the charitable purposes of the licensed authorized organization its net proceeds of games of bingo and raffles.

(b) Except as otherwise provided by law, the net proceeds derived from games of bingo and raffles are dedicated to the charitable purposes of the licensed authorized organization only if directed to a cause, need, or activity that is consistent with the federal tax exemption the licensed authorized organization obtained under 26 U.S.C. § 501 , as in existence on January 1, 2007, and under which the organization qualifies as a nonprofit organization as defined by law. If the licensed authorized organization is not required to obtain a federal tax exemption under 26 U.S.C. § 501 , as in existence on January 1, 2007, the licensed authorized organization's net proceeds are dedicated to the charitable purposes of the licensed authorized organization only if directed to a cause, need, or activity that is consistent with the purposes and objectives for which the licensed authorized organization qualifies as a licensed authorized organization.

(c) (1) The licensed authorized organization shall make mandatory annual or more frequent disbursements from the bingo and raffle account to the general fund of the licensed authorized organization after providing for appropriate reserves and funds necessary to pay for reasonable and necessary bingo and raffle expenses. (2) Once funds are distributed to the licensed authorized organization general fund under subdivision (c)(1) of this section, no funds shall be returned to the bingo and raffle account except by means of a loan from the licensed authorized organization's general fund to the bingo and raffle account as evidenced by a written instrument.

(1) The licensed authorized organization shall make mandatory annual or more frequent disbursements from the bingo and raffle account to the general fund of the licensed authorized organization after providing for appropriate reserves and funds necessary to pay for reasonable and necessary bingo and raffle expenses.

(2) Once funds are distributed to the licensed authorized organization general fund under subdivision (c)(1) of this section, no funds shall be returned to the bingo and raffle account except by means of a loan from the licensed authorized organization's general fund to the bingo and raffle account as evidenced by a written instrument.

Acts 2007, No. 388, § 1.
Ark. Code Ann. § 23-60-102 — AR Code / Title 23 / Chapter 60 / Section 23-60-102
Definitions
Status: in_force

As used in the Arkansas Insurance Code, unless the context otherwise requires: (1) (A) (i) "Insurance" is any agreement, contract, or other transaction whereby one party, the "insurer", is obligated to confer benefit of pecuniary value upon another party, the "insured" or "beneficiary", dependent upon the happening of a fortuitous event in which the insured or beneficiary has, or is expected to have at the time of such a happening, a material interest that will be adversely affected by the happening of such an event. (ii) A "fortuitous event" means any occurrence or failure to occur that is, or is assumed by the parties to be, to a substantial extent beyond the control of either party. (B) "Insurance" shall, for purposes of subtitle 3 of this title, be deemed to include "annuities", which are agreements by insurers to make periodic payments that continue during the survival of the measuring life or lives under the agreements or for a specified period. (C) "Reinsurance" is a contract under which an originating insurer, called the "ceding" insurer, procures insurance for itself in another insurer, called the "assuming" insurer or reinsurer, with respect to part or all of an insurance risk of the originating insurer. (D) (i) "Insurance" shall not include a debt cancellation agreement. (ii) "Debt cancellation agreement" is a loan term or contractual arrangement modifying a loan term dealing with motor vehicles under which a lender agrees to cancel all or part of a borrower's obligation to repay an extension of credit from the lender upon the occurrence of a specified event other than the death or disability of the borrower. The agreement may be separate from or a part of other loan documents. (2) "Insurer" includes every person engaged as indemnitor, surety, or contractor in the business of entering into contracts of insurance; (3) "Person" includes an individual, insurer, company, association, organization, Lloyd's, society, reciprocal or inter-insurance exchange, partnership, syndicate, business trust, corporation, and every legal entity; (4) "Commissioner" means the Insurance Commissioner of this state; (5) "Department" means the State Insurance Department; (6) A "domestic" insurer is one formed under the laws of this state; (7) A "foreign" insurer means one formed under the laws of any jurisdiction other than this state; (8) An "alien" insurer means one formed under the laws of any country other than the United States, its states, districts, territories, and commonwealths; (9) Except where distinguished by context, "foreign" insurers include also "alien" insurers; (10) (A) When used in a context signifying a jurisdiction other than the State of Arkansas, "state" means any state, district, territory, commonwealth, or possession of the United States. (B) For purposes of conforming the Arkansas Insurance Code to comply with the provisions of the North American Free Trade Agreement, "state" shall also be deemed to include Canada and the Republic of Mexico, as appropriate; (11) An "authorized" insurer means one duly authorized by a subsisting certificate of authority issued by the commissioner to transact insurance in this state; (12) An "unauthorized" insurer is one not authorized by a subsisting certificate of authority issued by the commissioner to transact insurance in this state; (13) "Transact" with respect to insurance includes any of the following: (A) Solicitation and inducement; (B) Preliminary negotiations; (C) Effectuation of a contract of insurance; (D) Transaction of matters subsequent to effectuation of a contract of insurance and arising out of it; (14) "Wet marine and foreign trade insurance", with the exception of chapter 67 of this title, shall include only: (A) Insurances upon vessels, crafts, hulls, and of interests therein or with relation thereto; (B) Insurance of marine builders' risks, marine war risks, and contracts of marine protection and indemnity insurance; (C) Insurance of freights and disbursements pertaining to a subject of insurance coming within this definition; and (D) Insurance of personal property and interests therein, in course of exportation from or importation into any country, or in course of transportation by land, water, or air from point of origin to final destination, in respect to, appertaining to, or in connection with any and all risks or perils of navigation, transit, or transportation, and while being prepared for and while awaiting shipment, and during any delays, storage, transshipment, or reshipment incident thereto. Acts 1959, No. 148, §§ 2-9, 69; 1968 (1st Ex. Sess.), No. 24, § 5; 1975, No. 450, § 1; 1979, No. 908, § 1; 1981, No. 595, § 1; A.S.A. 1947, §§ 66-2002 -- 66-2009, 66-2302; Acts 1993, No. 901, § 5; 1995, No. 1272, § 1; 1997, No. 1000, § 1; 2007, No. 496, § 23.

As used in the Arkansas Insurance Code, unless the context otherwise requires:

(1) (A) (i) "Insurance" is any agreement, contract, or other transaction whereby one party, the "insurer", is obligated to confer benefit of pecuniary value upon another party, the "insured" or "beneficiary", dependent upon the happening of a fortuitous event in which the insured or beneficiary has, or is expected to have at the time of such a happening, a material interest that will be adversely affected by the happening of such an event. (ii) A "fortuitous event" means any occurrence or failure to occur that is, or is assumed by the parties to be, to a substantial extent beyond the control of either party. (B) "Insurance" shall, for purposes of subtitle 3 of this title, be deemed to include "annuities", which are agreements by insurers to make periodic payments that continue during the survival of the measuring life or lives under the agreements or for a specified period. (C) "Reinsurance" is a contract under which an originating insurer, called the "ceding" insurer, procures insurance for itself in another insurer, called the "assuming" insurer or reinsurer, with respect to part or all of an insurance risk of the originating insurer. (D) (i) "Insurance" shall not include a debt cancellation agreement. (ii) "Debt cancellation agreement" is a loan term or contractual arrangement modifying a loan term dealing with motor vehicles under which a lender agrees to cancel all or part of a borrower's obligation to repay an extension of credit from the lender upon the occurrence of a specified event other than the death or disability of the borrower. The agreement may be separate from or a part of other loan documents.

(A) (i) "Insurance" is any agreement, contract, or other transaction whereby one party, the "insurer", is obligated to confer benefit of pecuniary value upon another party, the "insured" or "beneficiary", dependent upon the happening of a fortuitous event in which the insured or beneficiary has, or is expected to have at the time of such a happening, a material interest that will be adversely affected by the happening of such an event. (ii) A "fortuitous event" means any occurrence or failure to occur that is, or is assumed by the parties to be, to a substantial extent beyond the control of either party.

(i) "Insurance" is any agreement, contract, or other transaction whereby one party, the "insurer", is obligated to confer benefit of pecuniary value upon another party, the "insured" or "beneficiary", dependent upon the happening of a fortuitous event in which the insured or beneficiary has, or is expected to have at the time of such a happening, a material interest that will be adversely affected by the happening of such an event.

(ii) A "fortuitous event" means any occurrence or failure to occur that is, or is assumed by the parties to be, to a substantial extent beyond the control of either party.

(B) "Insurance" shall, for purposes of subtitle 3 of this title, be deemed to include "annuities", which are agreements by insurers to make periodic payments that continue during the survival of the measuring life or lives under the agreements or for a specified period.

(C) "Reinsurance" is a contract under which an originating insurer, called the "ceding" insurer, procures insurance for itself in another insurer, called the "assuming" insurer or reinsurer, with respect to part or all of an insurance risk of the originating insurer.

(D) (i) "Insurance" shall not include a debt cancellation agreement. (ii) "Debt cancellation agreement" is a loan term or contractual arrangement modifying a loan term dealing with motor vehicles under which a lender agrees to cancel all or part of a borrower's obligation to repay an extension of credit from the lender upon the occurrence of a specified event other than the death or disability of the borrower. The agreement may be separate from or a part of other loan documents.

(i) "Insurance" shall not include a debt cancellation agreement.

(ii) "Debt cancellation agreement" is a loan term or contractual arrangement modifying a loan term dealing with motor vehicles under which a lender agrees to cancel all or part of a borrower's obligation to repay an extension of credit from the lender upon the occurrence of a specified event other than the death or disability of the borrower. The agreement may be separate from or a part of other loan documents.

(2) "Insurer" includes every person engaged as indemnitor, surety, or contractor in the business of entering into contracts of insurance;

(3) "Person" includes an individual, insurer, company, association, organization, Lloyd's, society, reciprocal or inter-insurance exchange, partnership, syndicate, business trust, corporation, and every legal entity;

(4) "Commissioner" means the Insurance Commissioner of this state;

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

(6) A "domestic" insurer is one formed under the laws of this state;

(7) A "foreign" insurer means one formed under the laws of any jurisdiction other than this state;

(8) An "alien" insurer means one formed under the laws of any country other than the United States, its states, districts, territories, and commonwealths;

(9) Except where distinguished by context, "foreign" insurers include also "alien" insurers;

(10) (A) When used in a context signifying a jurisdiction other than the State of Arkansas, "state" means any state, district, territory, commonwealth, or possession of the United States. (B) For purposes of conforming the Arkansas Insurance Code to comply with the provisions of the North American Free Trade Agreement, "state" shall also be deemed to include Canada and the Republic of Mexico, as appropriate;

(A) When used in a context signifying a jurisdiction other than the State of Arkansas, "state" means any state, district, territory, commonwealth, or possession of the United States.

(B) For purposes of conforming the Arkansas Insurance Code to comply with the provisions of the North American Free Trade Agreement, "state" shall also be deemed to include Canada and the Republic of Mexico, as appropriate;

(11) An "authorized" insurer means one duly authorized by a subsisting certificate of authority issued by the commissioner to transact insurance in this state;

(12) An "unauthorized" insurer is one not authorized by a subsisting certificate of authority issued by the commissioner to transact insurance in this state;

(13) "Transact" with respect to insurance includes any of the following: (A) Solicitation and inducement; (B) Preliminary negotiations; (C) Effectuation of a contract of insurance; (D) Transaction of matters subsequent to effectuation of a contract of insurance and arising out of it;

(A) Solicitation and inducement;

(B) Preliminary negotiations;

(C) Effectuation of a contract of insurance;

(D) Transaction of matters subsequent to effectuation of a contract of insurance and arising out of it;

(14) "Wet marine and foreign trade insurance", with the exception of chapter 67 of this title, shall include only: (A) Insurances upon vessels, crafts, hulls, and of interests therein or with relation thereto; (B) Insurance of marine builders' risks, marine war risks, and contracts of marine protection and indemnity insurance; (C) Insurance of freights and disbursements pertaining to a subject of insurance coming within this definition; and (D) Insurance of personal property and interests therein, in course of exportation from or importation into any country, or in course of transportation by land, water, or air from point of origin to final destination, in respect to, appertaining to, or in connection with any and all risks or perils of navigation, transit, or transportation, and while being prepared for and while awaiting shipment, and during any delays, storage, transshipment, or reshipment incident thereto.

(A) Insurances upon vessels, crafts, hulls, and of interests therein or with relation thereto;

(B) Insurance of marine builders' risks, marine war risks, and contracts of marine protection and indemnity insurance;

(C) Insurance of freights and disbursements pertaining to a subject of insurance coming within this definition; and

(D) Insurance of personal property and interests therein, in course of exportation from or importation into any country, or in course of transportation by land, water, or air from point of origin to final destination, in respect to, appertaining to, or in connection with any and all risks or perils of navigation, transit, or transportation, and while being prepared for and while awaiting shipment, and during any delays, storage, transshipment, or reshipment incident thereto.

Acts 1959, No. 148, §§ 2-9, 69; 1968 (1st Ex. Sess.), No. 24, § 5; 1975, No. 450, § 1; 1979, No. 908, § 1; 1981, No. 595, § 1; A.S.A. 1947, §§ 66-2002 -- 66-2009, 66-2302; Acts 1993, No. 901, § 5; 1995, No. 1272, § 1; 1997, No. 1000, § 1; 2007, No. 496, § 23.
Ark. Code Ann. § 23-4-1209 — AR Code / Title 23 / Chapter 4 / Subchapter 12 / Section 23-4-1209
Construction
Status: in_force

(a) This subchapter does not repeal any other provision in this chapter and is supplemental to other laws governing the regulation of public utility rates. (b) This subchapter shall not prohibit the Arkansas Public Service Commission from exercising its powers under any other statute. Added by Act 2015, No. 725,§ 3, eff. 3/27/2015.

(a) This subchapter does not repeal any other provision in this chapter and is supplemental to other laws governing the regulation of public utility rates.

(b) This subchapter shall not prohibit the Arkansas Public Service Commission from exercising its powers under any other statute.

Added by Act 2015, No. 725,§ 3, eff. 3/27/2015.
Ark. Code Ann. § 23-86-104 — AR Code / Title 23 / Chapter 86 / Subchapter 1 / Section 23-86-104
Blanket accident and health insurance - Payment of benefits
Status: in_force

(a) (1) All benefits under any blanket accident and health insurance policy shall be payable to the person insured, to the designated beneficiaries, or to his or her estate. (2) However, if the person insured is a minor or mental incompetent, the benefits may be made payable to the parent, guardian, or other person actually supporting the minor or mental incompetent. If the entire cost of the insurance has been borne by the employer, the benefits may be made payable to the employer. (b) (1) However, the policy may provide that all or any portion of any indemnities provided by the policy on account of hospital, nursing, medical, or surgical services, at the insurer's option, may be paid directly to the hospital or person rendering the services, but the policy may not require that the service be rendered by a particular hospital or person. (2) Payment so made shall discharge the insurer's obligation with respect to the amount of insurance paid. Acts 1959, No. 148, § 425; A.S.A. 1947, § 66-3707; Acts 2001, No. 1063, § 5.

(a) (1) All benefits under any blanket accident and health insurance policy shall be payable to the person insured, to the designated beneficiaries, or to his or her estate. (2) However, if the person insured is a minor or mental incompetent, the benefits may be made payable to the parent, guardian, or other person actually supporting the minor or mental incompetent. If the entire cost of the insurance has been borne by the employer, the benefits may be made payable to the employer.

(1) All benefits under any blanket accident and health insurance policy shall be payable to the person insured, to the designated beneficiaries, or to his or her estate.

(2) However, if the person insured is a minor or mental incompetent, the benefits may be made payable to the parent, guardian, or other person actually supporting the minor or mental incompetent. If the entire cost of the insurance has been borne by the employer, the benefits may be made payable to the employer.

(b) (1) However, the policy may provide that all or any portion of any indemnities provided by the policy on account of hospital, nursing, medical, or surgical services, at the insurer's option, may be paid directly to the hospital or person rendering the services, but the policy may not require that the service be rendered by a particular hospital or person. (2) Payment so made shall discharge the insurer's obligation with respect to the amount of insurance paid.

(1) However, the policy may provide that all or any portion of any indemnities provided by the policy on account of hospital, nursing, medical, or surgical services, at the insurer's option, may be paid directly to the hospital or person rendering the services, but the policy may not require that the service be rendered by a particular hospital or person.

(2) Payment so made shall discharge the insurer's obligation with respect to the amount of insurance paid.

Acts 1959, No. 148, § 425; A.S.A. 1947, § 66-3707; Acts 2001, No. 1063, § 5.
Ark. Code Ann. § 23-79-1601 — AR Code / Title 23 / Chapter 79 / Subchapter 16 / Section 23-79-1601
Definitions
Status: in_force

As used in this subchapter: (1) "Distant site" means the location of the healthcare professional delivering healthcare services through telemedicine at the time the services are provided; (2) (A) "Health benefit plan" means: (i) An individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by an insurer, health maintenance organization, hospital medical service corporation, or self-insured governmental or church plan in this state; and (ii) Any health benefit program receiving state or federal appropriations from the State of Arkansas, including the Arkansas Medicaid Program and the Arkansas Health and Opportunity for Me Program, or any successor program. (B) "Health benefit plan" includes: (i) Indemnity and managed care plans; and (ii) Nonfederal governmental plans as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2015. (C) "Health benefit plan" does not include: (i) Disability income plans; (ii) Credit insurance plans; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under automobile or homeowners insurance plans; (v) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) Plans that provide only indemnity for hospital confinement; (vii) Accident-only plans; (viii) Specified disease plans; (ix) Long-term-care-only plans; or (x) Stand-alone dental or vision benefit plans; (3) "Healthcare professional" means a person who is licensed, certified, or otherwise authorized by the laws of this state to administer health care in the ordinary course of the practice of his or her profession; (4) (A) "Originating site" means a site at which a patient is located at the time healthcare services are provided to him or her by means of telemedicine. (B) "Originating site" includes the home of a patient; (5) "Remote patient monitoring" means the use of synchronous or asynchronous electronic information and communication technology to collect personal health information and medical data from a patient at an originating site that is transmitted to a healthcare professional at a distant site for use in the treatment and management of medical conditions that require frequent monitoring; (6) "Store-and-forward technology" means the asynchronous transmission of a patient's medical information from a healthcare professional at an originating site to a healthcare professional at the distant site; and (7) (A) "Telemedicine" means the use of electronic information and communication technology to deliver healthcare services, including without limitation the assessment, diagnosis, consultation, treatment, education, care management, and self-management of a patient. (B) "Telemedicine" includes store-and-forward technology and remote patient monitoring. (C) For the purposes of this subchapter, "telemedicine" does not include the use of: (i) (a) Audio-only communication, unless the audio-only communication is real-time, interactive, and substantially meets the requirements for a healthcare service that would otherwise be covered by the health benefit plan. (b) As with other medical services covered by a health benefit plan, documentation of the engagement between patient and provider via audio-only communication shall be placed in the medical record addressing the problem, content of conversation, medical decision-making, and plan of care after the contact. (c) The documentation described in subdivision (7)(C)(i) (b) of this section is subject to the same audit and review process required by payers and governmental agencies when requesting documentation of other care delivery such as in-office or face-to-face visits; (ii) A facsimile machine; (iii) Text messaging; or (iv) Email. Amended by Act 2021, No. 530,§ 5, eff. on and after January 1, 2022. Amended by Act 2021, No. 829,§ 4, eff. 4/21/2021. Amended by Act 2021, No. 829,§ 3, eff. 4/21/2021. Amended by Act 2021, No. 767,§ 3, eff. 7/28/2021. Amended by Act 2017, No. 203,§ 4, eff. 8/1/2017. Added by Act 2015, No. 887,§ 4, eff. 4/1/2015.

As used in this subchapter:

(1) "Distant site" means the location of the healthcare professional delivering healthcare services through telemedicine at the time the services are provided;

(2) (A) "Health benefit plan" means: (i) An individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by an insurer, health maintenance organization, hospital medical service corporation, or self-insured governmental or church plan in this state; and (ii) Any health benefit program receiving state or federal appropriations from the State of Arkansas, including the Arkansas Medicaid Program and the Arkansas Health and Opportunity for Me Program, or any successor program. (B) "Health benefit plan" includes: (i) Indemnity and managed care plans; and (ii) Nonfederal governmental plans as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2015. (C) "Health benefit plan" does not include: (i) Disability income plans; (ii) Credit insurance plans; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under automobile or homeowners insurance plans; (v) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) Plans that provide only indemnity for hospital confinement; (vii) Accident-only plans; (viii) Specified disease plans; (ix) Long-term-care-only plans; or (x) Stand-alone dental or vision benefit plans;

(A) "Health benefit plan" means: (i) An individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by an insurer, health maintenance organization, hospital medical service corporation, or self-insured governmental or church plan in this state; and (ii) Any health benefit program receiving state or federal appropriations from the State of Arkansas, including the Arkansas Medicaid Program and the Arkansas Health and Opportunity for Me Program, or any successor program.

(i) An individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by an insurer, health maintenance organization, hospital medical service corporation, or self-insured governmental or church plan in this state; and

(ii) Any health benefit program receiving state or federal appropriations from the State of Arkansas, including the Arkansas Medicaid Program and the Arkansas Health and Opportunity for Me Program, or any successor program.

(B) "Health benefit plan" includes: (i) Indemnity and managed care plans; and (ii) Nonfederal governmental plans as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2015.

(i) Indemnity and managed care plans; and

(ii) Nonfederal governmental plans as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2015.

(C) "Health benefit plan" does not include: (i) Disability income plans; (ii) Credit insurance plans; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under automobile or homeowners insurance plans; (v) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) Plans that provide only indemnity for hospital confinement; (vii) Accident-only plans; (viii) Specified disease plans; (ix) Long-term-care-only plans; or (x) Stand-alone dental or vision benefit plans;

(i) Disability income plans;

(ii) Credit insurance plans;

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

(iv) Medical payments under automobile or homeowners insurance plans;

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

(vi) Plans that provide only indemnity for hospital confinement;

(vii) Accident-only plans;

(viii) Specified disease plans;

(ix) Long-term-care-only plans; or

(x) Stand-alone dental or vision benefit plans;

(3) "Healthcare professional" means a person who is licensed, certified, or otherwise authorized by the laws of this state to administer health care in the ordinary course of the practice of his or her profession;

(4) (A) "Originating site" means a site at which a patient is located at the time healthcare services are provided to him or her by means of telemedicine. (B) "Originating site" includes the home of a patient;

(A) "Originating site" means a site at which a patient is located at the time healthcare services are provided to him or her by means of telemedicine.

(B) "Originating site" includes the home of a patient;

(5) "Remote patient monitoring" means the use of synchronous or asynchronous electronic information and communication technology to collect personal health information and medical data from a patient at an originating site that is transmitted to a healthcare professional at a distant site for use in the treatment and management of medical conditions that require frequent monitoring;

(6) "Store-and-forward technology" means the asynchronous transmission of a patient's medical information from a healthcare professional at an originating site to a healthcare professional at the distant site; and

(7) (A) "Telemedicine" means the use of electronic information and communication technology to deliver healthcare services, including without limitation the assessment, diagnosis, consultation, treatment, education, care management, and self-management of a patient. (B) "Telemedicine" includes store-and-forward technology and remote patient monitoring. (C) For the purposes of this subchapter, "telemedicine" does not include the use of: (i) (a) Audio-only communication, unless the audio-only communication is real-time, interactive, and substantially meets the requirements for a healthcare service that would otherwise be covered by the health benefit plan. (b) As with other medical services covered by a health benefit plan, documentation of the engagement between patient and provider via audio-only communication shall be placed in the medical record addressing the problem, content of conversation, medical decision-making, and plan of care after the contact. (c) The documentation described in subdivision (7)(C)(i) (b) of this section is subject to the same audit and review process required by payers and governmental agencies when requesting documentation of other care delivery such as in-office or face-to-face visits; (ii) A facsimile machine; (iii) Text messaging; or (iv) Email.

(A) "Telemedicine" means the use of electronic information and communication technology to deliver healthcare services, including without limitation the assessment, diagnosis, consultation, treatment, education, care management, and self-management of a patient.

(B) "Telemedicine" includes store-and-forward technology and remote patient monitoring.

(C) For the purposes of this subchapter, "telemedicine" does not include the use of: (i) (a) Audio-only communication, unless the audio-only communication is real-time, interactive, and substantially meets the requirements for a healthcare service that would otherwise be covered by the health benefit plan. (b) As with other medical services covered by a health benefit plan, documentation of the engagement between patient and provider via audio-only communication shall be placed in the medical record addressing the problem, content of conversation, medical decision-making, and plan of care after the contact. (c) The documentation described in subdivision (7)(C)(i) (b) of this section is subject to the same audit and review process required by payers and governmental agencies when requesting documentation of other care delivery such as in-office or face-to-face visits; (ii) A facsimile machine; (iii) Text messaging; or (iv) Email.

(i) (a) Audio-only communication, unless the audio-only communication is real-time, interactive, and substantially meets the requirements for a healthcare service that would otherwise be covered by the health benefit plan. (b) As with other medical services covered by a health benefit plan, documentation of the engagement between patient and provider via audio-only communication shall be placed in the medical record addressing the problem, content of conversation, medical decision-making, and plan of care after the contact. (c) The documentation described in subdivision (7)(C)(i) (b) of this section is subject to the same audit and review process required by payers and governmental agencies when requesting documentation of other care delivery such as in-office or face-to-face visits;

(a) Audio-only communication, unless the audio-only communication is real-time, interactive, and substantially meets the requirements for a healthcare service that would otherwise be covered by the health benefit plan.

(b) As with other medical services covered by a health benefit plan, documentation of the engagement between patient and provider via audio-only communication shall be placed in the medical record addressing the problem, content of conversation, medical decision-making, and plan of care after the contact.

(c) The documentation described in subdivision (7)(C)(i) (b) of this section is subject to the same audit and review process required by payers and governmental agencies when requesting documentation of other care delivery such as in-office or face-to-face visits;

(ii) A facsimile machine;

(iii) Text messaging; or

(iv) Email.

Amended by Act 2021, No. 530,§ 5, eff. on and after January 1, 2022.

Amended by Act 2021, No. 829,§ 4, eff. 4/21/2021.

Amended by Act 2021, No. 829,§ 3, eff. 4/21/2021.

Amended by Act 2021, No. 767,§ 3, eff. 7/28/2021.

Amended by Act 2017, No. 203,§ 4, eff. 8/1/2017.

Added by Act 2015, No. 887,§ 4, eff. 4/1/2015.