Ark. Code Ann. § 23-70-108 — AR Code / Title 23 / Chapter 70 / Section 23-70-108
Power of attorney
Status: in_force

(a) The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers. (b) The power of attorney must set forth: (1) The powers of the attorney; (2) That the attorney is empowered to accept service of process on behalf of the insurer in actions against the insurer upon contracts exchanged; (3) The general services to be performed by the attorney; (4) The maximum amount to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense in addition to losses, to be paid by the insurer; and (5) Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount, which amount shall be not less than one (1) nor more than ten (10) times the premium or premium deposit stated in the policy. (c) The power of attorney may: (1) Provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder; (2) Impose such restrictions upon the exercise of the power as are agreed upon by the subscribers; (3) Provide for the exercise of any right reserved to the subscribers directly or through their advisory committee; and (4) Contain other lawful provisions deemed advisable. (d) The terms of any power of attorney or agreement collateral thereto shall be reasonable and equitable. Acts 1959, No. 148, § 519; A.S.A. 1947, § 66-4310.

(a) The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers.

(b) The power of attorney must set forth: (1) The powers of the attorney; (2) That the attorney is empowered to accept service of process on behalf of the insurer in actions against the insurer upon contracts exchanged; (3) The general services to be performed by the attorney; (4) The maximum amount to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense in addition to losses, to be paid by the insurer; and (5) Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount, which amount shall be not less than one (1) nor more than ten (10) times the premium or premium deposit stated in the policy.

(1) The powers of the attorney;

(2) That the attorney is empowered to accept service of process on behalf of the insurer in actions against the insurer upon contracts exchanged;

(3) The general services to be performed by the attorney;

(4) The maximum amount to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense in addition to losses, to be paid by the insurer; and

(5) Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount, which amount shall be not less than one (1) nor more than ten (10) times the premium or premium deposit stated in the policy.

(c) The power of attorney may: (1) Provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder; (2) Impose such restrictions upon the exercise of the power as are agreed upon by the subscribers; (3) Provide for the exercise of any right reserved to the subscribers directly or through their advisory committee; and (4) Contain other lawful provisions deemed advisable.

(1) Provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder;

(2) Impose such restrictions upon the exercise of the power as are agreed upon by the subscribers;

(3) Provide for the exercise of any right reserved to the subscribers directly or through their advisory committee; and

(4) Contain other lawful provisions deemed advisable.

(d) The terms of any power of attorney or agreement collateral thereto shall be reasonable and equitable.

Acts 1959, No. 148, § 519; A.S.A. 1947, § 66-4310.
Ark. Code Ann. § 23-4-421 — AR Code / Title 23 / Chapter 4 / Subchapter 4 / Section 23-4-421
No changes allowed in terms of employment subject to collective bargaining agreement
Status: in_force

In establishing public utility rates, the Arkansas Public Service Commission shall not reduce or otherwise change any wage rate, benefit, working condition, or other term or condition of employment that is the subject of a collective bargaining agreement between the public utility and a labor organization. Acts 1991, No. 578, § 2.

In establishing public utility rates, the Arkansas Public Service Commission shall not reduce or otherwise change any wage rate, benefit, working condition, or other term or condition of employment that is the subject of a collective bargaining agreement between the public utility and a labor organization.

Acts 1991, No. 578, § 2.
Ark. Code Ann. § 23-61-609 — AR Code / Title 23 / Chapter 61 / Subchapter 6 / Section 23-61-609
Reports by state agencies
Status: in_force

State agencies shall report to the Administrator of the Risk Management Division information that the risk manager determines to be necessary to analyze and manage the risk of loss of state assets. Acts 1981, No. 272, § 12; A.S.A. 1947, § 66-5712.

State agencies shall report to the Administrator of the Risk Management Division information that the risk manager determines to be necessary to analyze and manage the risk of loss of state assets.

Acts 1981, No. 272, § 12; A.S.A. 1947, § 66-5712.
Ark. Code Ann. § 23-63-832 — AR Code / Title 23 / Chapter 63 / Subchapter 8 / Section 23-63-832
Special investments by title insurer
Status: in_force

(a) (1) In addition to other investments eligible under this subchapter, a title insurer may invest and have invested an amount not exceeding fifty percent (50%) of its paid-in capital stock in its abstract plant and equipment and, with the Insurance Commissioner's consent, in stocks of abstract companies. (2) If the insurer transacts kinds of insurance in addition to title insurance, for the purposes of this section, its paid-in capital stock shall be prorated between title insurance and other insurances upon the basis of the reserves maintained by the insurer for the various kinds of insurance. However, the capital so assigned to title insurance shall in no event be less than one hundred thousand dollars ($100,000). (b) Investments authorized by this section shall not be credited against the insurer's required unearned premium or guaranty fund reserve provided under § 23-63-614 . Acts 1959, No. 148, § 128; A.S.A. 1947, § 66-2632; Acts 1993, No. 527, § 15; 2007, No. 496, § 12.

(a) (1) In addition to other investments eligible under this subchapter, a title insurer may invest and have invested an amount not exceeding fifty percent (50%) of its paid-in capital stock in its abstract plant and equipment and, with the Insurance Commissioner's consent, in stocks of abstract companies. (2) If the insurer transacts kinds of insurance in addition to title insurance, for the purposes of this section, its paid-in capital stock shall be prorated between title insurance and other insurances upon the basis of the reserves maintained by the insurer for the various kinds of insurance. However, the capital so assigned to title insurance shall in no event be less than one hundred thousand dollars ($100,000).

(1) In addition to other investments eligible under this subchapter, a title insurer may invest and have invested an amount not exceeding fifty percent (50%) of its paid-in capital stock in its abstract plant and equipment and, with the Insurance Commissioner's consent, in stocks of abstract companies.

(2) If the insurer transacts kinds of insurance in addition to title insurance, for the purposes of this section, its paid-in capital stock shall be prorated between title insurance and other insurances upon the basis of the reserves maintained by the insurer for the various kinds of insurance. However, the capital so assigned to title insurance shall in no event be less than one hundred thousand dollars ($100,000).

(b) Investments authorized by this section shall not be credited against the insurer's required unearned premium or guaranty fund reserve provided under § 23-63-614 .

Acts 1959, No. 148, § 128; A.S.A. 1947, § 66-2632; Acts 1993, No. 527, § 15; 2007, No. 496, § 12.
Ark. Code Ann. § 23-63-207 — AR Code / Title 23 / Chapter 63 / Subchapter 2 / Section 23-63-207
Certificate of authority - Eligibility - Special surplus
Status: in_force

(a) In addition to the minimum paid-in capital stock if stock insurers, or minimum surplus if mutual and reciprocal insurers, required by § 23-63-205 , special surplus shall be possessed by insurers hereafter applying for original certificates of authority in this state as follows: (1) All domestic stock insurers and domestic mutual legal reserve life and domestic reciprocal insurers, when first authorized to transact insurance in this state, shall have, if a stock insurer, surplus, or, if a mutual or reciprocal insurer, additional surplus, equal to not less than one hundred percent (100%) of the minimum paid-in capital stock or minimum surplus otherwise required under § 23-63-205 for the kinds of insurance to be transacted; and (2) Foreign and alien insurers that have actively transacted insurance as authorized insurers in one (1) or more states of the United States shall possess, when first authorized in this state, surplus or additional surplus equal to not less than one hundred percent (100%) of the minimum paid-in capital stock if a stock insurer, or minimum surplus if a mutual or reciprocal insurer, otherwise required under § 23-63-205 . (b) As to all insurers referred to in subdivisions (a)(1) and (2) of this section, and as to currently authorized insurers seeking additional authority in this state, if, after issuance of its original certificate of authority to transact insurance in this state, the insurer requests authority to transact additional kinds of insurance, the request shall not be authorized unless the insurer then possesses special surplus or additional surplus in such an amount as would be required under this section as for an original certificate of authority covering the kinds of insurance the insurer then proposes to transact. (c) On and after January 1, 1996, as to all domestic stock and domestic mutual and domestic reciprocal insurers currently licensed or obtaining original licensure on and after January 1, 1996, the insurer shall maintain a minimum special surplus of not less than fifteen percent (15%) of the paid-in capital, if a stock insurer, or fifteen percent (15%) of surplus, if a mutual or reciprocal insurer, as reported in its last preceding annual statement. The Insurance Commissioner in his or her discretion may allow domestic insurers to augment special surplus in increments over a period of up to five (5) years to achieve compliance with the minimum amounts required herein, if immediate compliance with this subsection would cause the domestic insurer to be impaired or insolvent. (d) In his or her discretion, the commissioner may require an insurer applying for its original certificate of authority to possess and maintain additional special surplus, in addition to that required by this subchapter, based on the financial condition of the insurer or the types, volume, or nature of the business transacted by the insurer. Acts 1959, No. 148, § 50; 1973, No. 66, § 2; 1975, No. 729, § 2; 1979, No. 942, § 8; A.S.A. 1947, § 66-2208; Acts 1993, No. 901, § 7; 1995, No. 1272, § 10; 2001, No. 1604, §§ 20, 21.

(a) In addition to the minimum paid-in capital stock if stock insurers, or minimum surplus if mutual and reciprocal insurers, required by § 23-63-205 , special surplus shall be possessed by insurers hereafter applying for original certificates of authority in this state as follows: (1) All domestic stock insurers and domestic mutual legal reserve life and domestic reciprocal insurers, when first authorized to transact insurance in this state, shall have, if a stock insurer, surplus, or, if a mutual or reciprocal insurer, additional surplus, equal to not less than one hundred percent (100%) of the minimum paid-in capital stock or minimum surplus otherwise required under § 23-63-205 for the kinds of insurance to be transacted; and (2) Foreign and alien insurers that have actively transacted insurance as authorized insurers in one (1) or more states of the United States shall possess, when first authorized in this state, surplus or additional surplus equal to not less than one hundred percent (100%) of the minimum paid-in capital stock if a stock insurer, or minimum surplus if a mutual or reciprocal insurer, otherwise required under § 23-63-205 .

(1) All domestic stock insurers and domestic mutual legal reserve life and domestic reciprocal insurers, when first authorized to transact insurance in this state, shall have, if a stock insurer, surplus, or, if a mutual or reciprocal insurer, additional surplus, equal to not less than one hundred percent (100%) of the minimum paid-in capital stock or minimum surplus otherwise required under § 23-63-205 for the kinds of insurance to be transacted; and

(2) Foreign and alien insurers that have actively transacted insurance as authorized insurers in one (1) or more states of the United States shall possess, when first authorized in this state, surplus or additional surplus equal to not less than one hundred percent (100%) of the minimum paid-in capital stock if a stock insurer, or minimum surplus if a mutual or reciprocal insurer, otherwise required under § 23-63-205 .

(b) As to all insurers referred to in subdivisions (a)(1) and (2) of this section, and as to currently authorized insurers seeking additional authority in this state, if, after issuance of its original certificate of authority to transact insurance in this state, the insurer requests authority to transact additional kinds of insurance, the request shall not be authorized unless the insurer then possesses special surplus or additional surplus in such an amount as would be required under this section as for an original certificate of authority covering the kinds of insurance the insurer then proposes to transact.

(c) On and after January 1, 1996, as to all domestic stock and domestic mutual and domestic reciprocal insurers currently licensed or obtaining original licensure on and after January 1, 1996, the insurer shall maintain a minimum special surplus of not less than fifteen percent (15%) of the paid-in capital, if a stock insurer, or fifteen percent (15%) of surplus, if a mutual or reciprocal insurer, as reported in its last preceding annual statement. The Insurance Commissioner in his or her discretion may allow domestic insurers to augment special surplus in increments over a period of up to five (5) years to achieve compliance with the minimum amounts required herein, if immediate compliance with this subsection would cause the domestic insurer to be impaired or insolvent.

(d) In his or her discretion, the commissioner may require an insurer applying for its original certificate of authority to possess and maintain additional special surplus, in addition to that required by this subchapter, based on the financial condition of the insurer or the types, volume, or nature of the business transacted by the insurer.

Acts 1959, No. 148, § 50; 1973, No. 66, § 2; 1975, No. 729, § 2; 1979, No. 942, § 8; A.S.A. 1947, § 66-2208; Acts 1993, No. 901, § 7; 1995, No. 1272, § 10; 2001, No. 1604, §§ 20, 21.
Ark. Code Ann. § 23-51-168 — AR Code / Title 23 / Chapter 51 / Section 23-51-168
Trust business of out-of-state trust institution
Status: in_force

An out-of-state trust institution which establishes or maintains one (1) or more offices in this state under this chapter may conduct any activity at each such office which would be authorized under the laws of this state for a state trust institution to conduct at such an office. Acts 1997, No. 940, § 68.

An out-of-state trust institution which establishes or maintains one (1) or more offices in this state under this chapter may conduct any activity at each such office which would be authorized under the laws of this state for a state trust institution to conduct at such an office.

Acts 1997, No. 940, § 68.
Ark. Code Ann. § 23-3-311 — AR Code / Title 23 / Chapter 3 / Subchapter 3 / Section 23-3-311
Hearing - Notice - Determination
Status: in_force

(a) The public hearing referred to in § 23-3-310 shall be commenced within thirty (30) days after the statement required by § 23-3-306 is filed. (b) (1) The place, date, and time for the public hearing shall be set by the Arkansas Public Service Commission, and notice of the hearing shall be given by the commission to the person filing the statement and to the domestic public utility at least twenty (20) days prior to the date of the public hearing. (2) Notice of the public hearing shall be given by the person filing the statement to such other persons and in such manner as may be directed by the commission at least fifteen (15) days prior to the public hearing. (3) (A) Notice of the hearing, in a form to be specified by the commission, shall be mailed, or shall be given in such other manner as may be determined by the commission, by the domestic public utility to its customers within ten (10) business days after it has received notice of the hearing from the commission. (B) The expenses of preparation and mailing and giving of notice shall be borne by the person filing the statement required by § 23-3-306 . As security for the payment of expenses, the commission may require the person to file with the commission an acceptable bond or other deposit in an amount to be determined by the commission. (c) The public hearing shall be concluded within thirty (30) days after the commencement of the hearing. (d) The commission shall make a determination of the factors specified in § 23-3-310 within thirty (30) days after the conclusion of the hearing, and any merger or other acquisition of control within the purview of this subchapter shall be deemed approved unless the commission has, within thirty (30) days after the conclusion of the hearing, entered its order disapproving the merger or other acquisition of control. Acts 1985, No. 343, §§ 5, 6; A.S.A. 1947, §§ 73-142.5, 73-142.6.

(a) The public hearing referred to in § 23-3-310 shall be commenced within thirty (30) days after the statement required by § 23-3-306 is filed.

(b) (1) The place, date, and time for the public hearing shall be set by the Arkansas Public Service Commission, and notice of the hearing shall be given by the commission to the person filing the statement and to the domestic public utility at least twenty (20) days prior to the date of the public hearing. (2) Notice of the public hearing shall be given by the person filing the statement to such other persons and in such manner as may be directed by the commission at least fifteen (15) days prior to the public hearing. (3) (A) Notice of the hearing, in a form to be specified by the commission, shall be mailed, or shall be given in such other manner as may be determined by the commission, by the domestic public utility to its customers within ten (10) business days after it has received notice of the hearing from the commission. (B) The expenses of preparation and mailing and giving of notice shall be borne by the person filing the statement required by § 23-3-306 . As security for the payment of expenses, the commission may require the person to file with the commission an acceptable bond or other deposit in an amount to be determined by the commission.

(1) The place, date, and time for the public hearing shall be set by the Arkansas Public Service Commission, and notice of the hearing shall be given by the commission to the person filing the statement and to the domestic public utility at least twenty (20) days prior to the date of the public hearing.

(2) Notice of the public hearing shall be given by the person filing the statement to such other persons and in such manner as may be directed by the commission at least fifteen (15) days prior to the public hearing.

(3) (A) Notice of the hearing, in a form to be specified by the commission, shall be mailed, or shall be given in such other manner as may be determined by the commission, by the domestic public utility to its customers within ten (10) business days after it has received notice of the hearing from the commission. (B) The expenses of preparation and mailing and giving of notice shall be borne by the person filing the statement required by § 23-3-306 . As security for the payment of expenses, the commission may require the person to file with the commission an acceptable bond or other deposit in an amount to be determined by the commission.

(A) Notice of the hearing, in a form to be specified by the commission, shall be mailed, or shall be given in such other manner as may be determined by the commission, by the domestic public utility to its customers within ten (10) business days after it has received notice of the hearing from the commission.

(B) The expenses of preparation and mailing and giving of notice shall be borne by the person filing the statement required by § 23-3-306 . As security for the payment of expenses, the commission may require the person to file with the commission an acceptable bond or other deposit in an amount to be determined by the commission.

(c) The public hearing shall be concluded within thirty (30) days after the commencement of the hearing.

(d) The commission shall make a determination of the factors specified in § 23-3-310 within thirty (30) days after the conclusion of the hearing, and any merger or other acquisition of control within the purview of this subchapter shall be deemed approved unless the commission has, within thirty (30) days after the conclusion of the hearing, entered its order disapproving the merger or other acquisition of control.

Acts 1985, No. 343, §§ 5, 6; A.S.A. 1947, §§ 73-142.5, 73-142.6.
Ark. Code Ann. § 23-4-111 — AR Code / Title 23 / Chapter 4 / Subchapter 1 / Section 23-4-111
Valuation of public utility property for ratemaking purposes - Definitions
Status: in_force

(a) As used in this section: (1) (A) "Public utility" means a public utility as that term is defined under § 23-1-101 . (B) However, "public utility" does not mean an incumbent local exchange carrier that has elected to be regulated under §§ 23-17-406 - 23-17-408 or § 23-17-412 ; (2) "Original cost" means the cost incurred by a public utility when plant or property was first devoted to public service; and (3) "Net book value" means the original cost less reasonable accumulated depreciation of the plant or property. (b) (1) In determining the value of plant or property that is to be included in the rate base upon which the public utility will be allowed the opportunity to earn a return, the Arkansas Public Service Commission shall use the net book value of the plant or property unless the commission determines that an adjustment is appropriate under subsection (c), subsection (d), or subsection (e) of this section. (2) However, for affiliate acquisitions, the value of plant or property that is to be included in the rate base upon which the public utility will be allowed the opportunity to earn a return, the commission shall use the net book value of the plant or property or a lesser amount, but in no event may the commission make an adjustment above net book value under subsection (c) of this section. (3) If the original cost of the plant or property is unknown, the commission shall estimate the net book value. (c) For plant or property acquired for an amount above net book value, the commission may allow the recovery through rates of an amount greater than net book value but not more than actual cost if the public utility can prove by a preponderance of the evidence that: (1) The original cost of the plant or property was reasonable and prudent; and (2) The public utility's customers will receive known and measurable benefits that are at least equal to the incremental amount for which the utility seeks recovery under this subsection. (d) For plant or property acquired for an amount below net book value, the commission may allow the recovery through rates of an amount greater than the cost of acquisition but not more than the net book value if the public utility can prove by a preponderance of the evidence that: (1) The original cost of the plant or property was reasonable and prudent; and (2) The public utility's customers will receive known and measurable benefits that are at least equal to the incremental amount for which the utility seeks recovery under this subsection. (e) The commission may allow the recovery through rates of an amount less than net book value if the commission determines that the original cost of the plant or property was not reasonable or was imprudent. (f) However, for plant or property costs incurred in compliance with § 23-18-106(a) , the public utility shall have a rebuttable presumption of reasonableness and prudence for the purpose of the commission's determinations in subsections (c)-(e) of this section. Acts 2003, No. 1317, § 1.

(a) As used in this section: (1) (A) "Public utility" means a public utility as that term is defined under § 23-1-101 . (B) However, "public utility" does not mean an incumbent local exchange carrier that has elected to be regulated under §§ 23-17-406 - 23-17-408 or § 23-17-412 ; (2) "Original cost" means the cost incurred by a public utility when plant or property was first devoted to public service; and (3) "Net book value" means the original cost less reasonable accumulated depreciation of the plant or property.

(1) (A) "Public utility" means a public utility as that term is defined under § 23-1-101 . (B) However, "public utility" does not mean an incumbent local exchange carrier that has elected to be regulated under §§ 23-17-406 - 23-17-408 or § 23-17-412 ;

(A) "Public utility" means a public utility as that term is defined under § 23-1-101 .

(B) However, "public utility" does not mean an incumbent local exchange carrier that has elected to be regulated under §§ 23-17-406 - 23-17-408 or § 23-17-412 ;

(2) "Original cost" means the cost incurred by a public utility when plant or property was first devoted to public service; and

(3) "Net book value" means the original cost less reasonable accumulated depreciation of the plant or property.

(b) (1) In determining the value of plant or property that is to be included in the rate base upon which the public utility will be allowed the opportunity to earn a return, the Arkansas Public Service Commission shall use the net book value of the plant or property unless the commission determines that an adjustment is appropriate under subsection (c), subsection (d), or subsection (e) of this section. (2) However, for affiliate acquisitions, the value of plant or property that is to be included in the rate base upon which the public utility will be allowed the opportunity to earn a return, the commission shall use the net book value of the plant or property or a lesser amount, but in no event may the commission make an adjustment above net book value under subsection (c) of this section. (3) If the original cost of the plant or property is unknown, the commission shall estimate the net book value.

(1) In determining the value of plant or property that is to be included in the rate base upon which the public utility will be allowed the opportunity to earn a return, the Arkansas Public Service Commission shall use the net book value of the plant or property unless the commission determines that an adjustment is appropriate under subsection (c), subsection (d), or subsection (e) of this section.

(2) However, for affiliate acquisitions, the value of plant or property that is to be included in the rate base upon which the public utility will be allowed the opportunity to earn a return, the commission shall use the net book value of the plant or property or a lesser amount, but in no event may the commission make an adjustment above net book value under subsection (c) of this section.

(3) If the original cost of the plant or property is unknown, the commission shall estimate the net book value.

(c) For plant or property acquired for an amount above net book value, the commission may allow the recovery through rates of an amount greater than net book value but not more than actual cost if the public utility can prove by a preponderance of the evidence that: (1) The original cost of the plant or property was reasonable and prudent; and (2) The public utility's customers will receive known and measurable benefits that are at least equal to the incremental amount for which the utility seeks recovery under this subsection.

(1) The original cost of the plant or property was reasonable and prudent; and

(2) The public utility's customers will receive known and measurable benefits that are at least equal to the incremental amount for which the utility seeks recovery under this subsection.

(d) For plant or property acquired for an amount below net book value, the commission may allow the recovery through rates of an amount greater than the cost of acquisition but not more than the net book value if the public utility can prove by a preponderance of the evidence that: (1) The original cost of the plant or property was reasonable and prudent; and (2) The public utility's customers will receive known and measurable benefits that are at least equal to the incremental amount for which the utility seeks recovery under this subsection.

(1) The original cost of the plant or property was reasonable and prudent; and

(2) The public utility's customers will receive known and measurable benefits that are at least equal to the incremental amount for which the utility seeks recovery under this subsection.

(e) The commission may allow the recovery through rates of an amount less than net book value if the commission determines that the original cost of the plant or property was not reasonable or was imprudent.

(f) However, for plant or property costs incurred in compliance with § 23-18-106(a) , the public utility shall have a rebuttable presumption of reasonableness and prudence for the purpose of the commission's determinations in subsections (c)-(e) of this section.

Acts 2003, No. 1317, § 1.
Ark. Code Ann. § 23-79-515 — AR Code / Title 23 / Chapter 79 / Subchapter 5 / Section 23-79-515
Orderly cessation of operations
Status: in_force

(a) (1) The Arkansas Comprehensive Health Insurance Pool shall cease enrollment and coverage under the plan on and after January 1, 2014, as required by federal law. (2) After taking all reasonable steps, including those specified in this section, to timely and efficiently assist in the transition of individuals receiving plan coverage to the individual health insurance market, the Board of Directors of the Arkansas Comprehensive Health Insurance Pool shall cease operating the pool after paying health insurance claims for plan coverage and meeting all other obligations of the board under this section. (b) The board may take all actions it deems necessary to: (1) Cease enrollment for plan coverage effective December 1, 2013; (2) (A) Terminate all existing plan coverage effective at the end of the calendar day on December 31, 2013. (B) The board shall provide at least ninety (90) days notice to current policyholders of the termination; and (3) Amend plan policies and provide adequate notice to policyholders, agents, and providers that to be paid or reimbursed, a claim for plan services is required to be filed by the earlier of one hundred eighty (180) days after plan coverage ends or three hundred sixty-five (365) days after the date of service giving rise to the claim. (c) This section does not require the board to revise plan benefits to comply with federal law or to maintain plan coverage for any individual after December 31, 2013. (d) (1) After all plan coverage terminates under this section, the board shall take reasonable steps to wind up all significant operations of the pool by December 31, 2014. (2) Notwithstanding any other provision of this subchapter, to facilitate an efficient cessation of operations: (A) The board may continue to use existing contractors until cessation of operations without the need to issue competitive requests for proposals; (B) The board may continue to fund operations of this subchapter under § 23-79-507 ; (C) The board shall remain in effect: (i) As provided by § 23-79-504(b) ; and (ii) Until a judgment, order, or decree in any action, suit, or proceeding commenced against or by the pool is fully executed; and (D) (i) The term of each current board member shall be extended until the date the pool concludes all business as provided under this section and the Insurance Commissioner certifies the cessations of operations under subsection (g) of this section. (ii) The term of a board member expires when the commissioner certifies the cessations of operations under subsection (g) of this section. (e) On or before June 30, 2013, the board shall amend the plan of operation to reflect the actions necessary to implement this section. (f) If the board has excess funds after the cessation of operations of the pool, the funds shall be returned to the general revenue funds of the state. (g) (1) On or before March 1, 2016, or a later date if necessary to complete the cessation of operations of the pool, the board shall file a report with the General Assembly and commissioner that reflects completion of the requirements of this section and includes an independent auditor's report on the financial statements of the pool. (2) If satisfied upon review of the report that the board has complied with this section and accomplished the pool's cessation of operations in a reasonable manner, the commissioner shall certify that the business of the pool has concluded in accordance with this section and publish the certification on the State Insurance Department website. (h) Upon certification under subsection (g) of this section, the operations of the pool are suspended indefinitely unless reactivated by the General Assembly. (i) The commissioner may address any matters regarding the pool arising after the certification under subsection (g) of this section, and the Attorney General shall defend a legal action filed after the certification, including seeking the dismissal of the action under § 23-79-516 or for any other purpose. (j) Unless inconsistent with this section, the remainder of this subchapter continues to apply to the pool and the board. Added by Act 2013, No. 713,§ 2, eff. 4/4/2013.

(a) (1) The Arkansas Comprehensive Health Insurance Pool shall cease enrollment and coverage under the plan on and after January 1, 2014, as required by federal law. (2) After taking all reasonable steps, including those specified in this section, to timely and efficiently assist in the transition of individuals receiving plan coverage to the individual health insurance market, the Board of Directors of the Arkansas Comprehensive Health Insurance Pool shall cease operating the pool after paying health insurance claims for plan coverage and meeting all other obligations of the board under this section.

(1) The Arkansas Comprehensive Health Insurance Pool shall cease enrollment and coverage under the plan on and after January 1, 2014, as required by federal law.

(2) After taking all reasonable steps, including those specified in this section, to timely and efficiently assist in the transition of individuals receiving plan coverage to the individual health insurance market, the Board of Directors of the Arkansas Comprehensive Health Insurance Pool shall cease operating the pool after paying health insurance claims for plan coverage and meeting all other obligations of the board under this section.

(b) The board may take all actions it deems necessary to: (1) Cease enrollment for plan coverage effective December 1, 2013; (2) (A) Terminate all existing plan coverage effective at the end of the calendar day on December 31, 2013. (B) The board shall provide at least ninety (90) days notice to current policyholders of the termination; and (3) Amend plan policies and provide adequate notice to policyholders, agents, and providers that to be paid or reimbursed, a claim for plan services is required to be filed by the earlier of one hundred eighty (180) days after plan coverage ends or three hundred sixty-five (365) days after the date of service giving rise to the claim.

(1) Cease enrollment for plan coverage effective December 1, 2013;

(2) (A) Terminate all existing plan coverage effective at the end of the calendar day on December 31, 2013. (B) The board shall provide at least ninety (90) days notice to current policyholders of the termination; and

(A) Terminate all existing plan coverage effective at the end of the calendar day on December 31, 2013.

(B) The board shall provide at least ninety (90) days notice to current policyholders of the termination; and

(3) Amend plan policies and provide adequate notice to policyholders, agents, and providers that to be paid or reimbursed, a claim for plan services is required to be filed by the earlier of one hundred eighty (180) days after plan coverage ends or three hundred sixty-five (365) days after the date of service giving rise to the claim.

(c) This section does not require the board to revise plan benefits to comply with federal law or to maintain plan coverage for any individual after December 31, 2013.

(d) (1) After all plan coverage terminates under this section, the board shall take reasonable steps to wind up all significant operations of the pool by December 31, 2014. (2) Notwithstanding any other provision of this subchapter, to facilitate an efficient cessation of operations: (A) The board may continue to use existing contractors until cessation of operations without the need to issue competitive requests for proposals; (B) The board may continue to fund operations of this subchapter under § 23-79-507 ; (C) The board shall remain in effect: (i) As provided by § 23-79-504(b) ; and (ii) Until a judgment, order, or decree in any action, suit, or proceeding commenced against or by the pool is fully executed; and (D) (i) The term of each current board member shall be extended until the date the pool concludes all business as provided under this section and the Insurance Commissioner certifies the cessations of operations under subsection (g) of this section. (ii) The term of a board member expires when the commissioner certifies the cessations of operations under subsection (g) of this section.

(1) After all plan coverage terminates under this section, the board shall take reasonable steps to wind up all significant operations of the pool by December 31, 2014.

(2) Notwithstanding any other provision of this subchapter, to facilitate an efficient cessation of operations: (A) The board may continue to use existing contractors until cessation of operations without the need to issue competitive requests for proposals; (B) The board may continue to fund operations of this subchapter under § 23-79-507 ; (C) The board shall remain in effect: (i) As provided by § 23-79-504(b) ; and (ii) Until a judgment, order, or decree in any action, suit, or proceeding commenced against or by the pool is fully executed; and (D) (i) The term of each current board member shall be extended until the date the pool concludes all business as provided under this section and the Insurance Commissioner certifies the cessations of operations under subsection (g) of this section. (ii) The term of a board member expires when the commissioner certifies the cessations of operations under subsection (g) of this section.

(A) The board may continue to use existing contractors until cessation of operations without the need to issue competitive requests for proposals;

(B) The board may continue to fund operations of this subchapter under § 23-79-507 ;

(C) The board shall remain in effect: (i) As provided by § 23-79-504(b) ; and (ii) Until a judgment, order, or decree in any action, suit, or proceeding commenced against or by the pool is fully executed; and

(i) As provided by § 23-79-504(b) ; and

(ii) Until a judgment, order, or decree in any action, suit, or proceeding commenced against or by the pool is fully executed; and

(D) (i) The term of each current board member shall be extended until the date the pool concludes all business as provided under this section and the Insurance Commissioner certifies the cessations of operations under subsection (g) of this section. (ii) The term of a board member expires when the commissioner certifies the cessations of operations under subsection (g) of this section.

(i) The term of each current board member shall be extended until the date the pool concludes all business as provided under this section and the Insurance Commissioner certifies the cessations of operations under subsection (g) of this section.

(ii) The term of a board member expires when the commissioner certifies the cessations of operations under subsection (g) of this section.

(e) On or before June 30, 2013, the board shall amend the plan of operation to reflect the actions necessary to implement this section.

(f) If the board has excess funds after the cessation of operations of the pool, the funds shall be returned to the general revenue funds of the state.

(g) (1) On or before March 1, 2016, or a later date if necessary to complete the cessation of operations of the pool, the board shall file a report with the General Assembly and commissioner that reflects completion of the requirements of this section and includes an independent auditor's report on the financial statements of the pool. (2) If satisfied upon review of the report that the board has complied with this section and accomplished the pool's cessation of operations in a reasonable manner, the commissioner shall certify that the business of the pool has concluded in accordance with this section and publish the certification on the State Insurance Department website.

(1) On or before March 1, 2016, or a later date if necessary to complete the cessation of operations of the pool, the board shall file a report with the General Assembly and commissioner that reflects completion of the requirements of this section and includes an independent auditor's report on the financial statements of the pool.

(2) If satisfied upon review of the report that the board has complied with this section and accomplished the pool's cessation of operations in a reasonable manner, the commissioner shall certify that the business of the pool has concluded in accordance with this section and publish the certification on the State Insurance Department website.

(h) Upon certification under subsection (g) of this section, the operations of the pool are suspended indefinitely unless reactivated by the General Assembly.

(i) The commissioner may address any matters regarding the pool arising after the certification under subsection (g) of this section, and the Attorney General shall defend a legal action filed after the certification, including seeking the dismissal of the action under § 23-79-516 or for any other purpose.

(j) Unless inconsistent with this section, the remainder of this subchapter continues to apply to the pool and the board.

Added by Act 2013, No. 713,§ 2, eff. 4/4/2013.
Ark. Code Ann. § 23-47-802 — AR Code / Title 23 / Chapter 47 / Subchapter 8 / Section 23-47-802
Subsidiary trust companies - Creation, formation, etc. - Powers - Location
Status: in_force

(a) Notwithstanding the provisions of § 23-48-405 , bank holding companies that own, directly or indirectly, an affiliated bank are authorized and empowered by the provisions of this subchapter to apply to the Bank Commissioner for authority to: (1) Create, form, and establish subsidiary trust companies under this subchapter for the purpose of combining the trust operations of their affiliated banks into a single trust operation; and (2) Create, form, and establish national trust companies under the laws of the United States. (b) In determining whether to grant an application for permission to establish a subsidiary trust company, the commissioner shall take into consideration the sufficiency of the capital base of the applying bank holding company, the needs of the communities to be served, and any other facts and circumstances that seem to him or her proper, and may grant or refuse the application accordingly. (c) The subsidiary trust company shall be formed as a business corporation under the Arkansas Business Corporation Act, § 4-27-101 et seq. The newly formed subsidiary trust company shall only have the ability to conduct trust business that could be conducted by the individual trust departments combined from the affiliated banks to create the subsidiary trust company. (d) Offices of a subsidiary trust company may be located only in: (1) Communities where its affiliated banks are located or in communities where their branches are or could be located; or (2) Communities where it would be authorized to have an office if it were a national trust company. (e) A subsidiary trust company shall be fully subject to the provisions of § 23-50-101 et seq. Acts 1997, No. 89, § 1.

(a) Notwithstanding the provisions of § 23-48-405 , bank holding companies that own, directly or indirectly, an affiliated bank are authorized and empowered by the provisions of this subchapter to apply to the Bank Commissioner for authority to: (1) Create, form, and establish subsidiary trust companies under this subchapter for the purpose of combining the trust operations of their affiliated banks into a single trust operation; and (2) Create, form, and establish national trust companies under the laws of the United States.

(1) Create, form, and establish subsidiary trust companies under this subchapter for the purpose of combining the trust operations of their affiliated banks into a single trust operation; and

(2) Create, form, and establish national trust companies under the laws of the United States.

(b) In determining whether to grant an application for permission to establish a subsidiary trust company, the commissioner shall take into consideration the sufficiency of the capital base of the applying bank holding company, the needs of the communities to be served, and any other facts and circumstances that seem to him or her proper, and may grant or refuse the application accordingly.

(c) The subsidiary trust company shall be formed as a business corporation under the Arkansas Business Corporation Act, § 4-27-101 et seq. The newly formed subsidiary trust company shall only have the ability to conduct trust business that could be conducted by the individual trust departments combined from the affiliated banks to create the subsidiary trust company.

(d) Offices of a subsidiary trust company may be located only in: (1) Communities where its affiliated banks are located or in communities where their branches are or could be located; or (2) Communities where it would be authorized to have an office if it were a national trust company.

(1) Communities where its affiliated banks are located or in communities where their branches are or could be located; or

(2) Communities where it would be authorized to have an office if it were a national trust company.

(e) A subsidiary trust company shall be fully subject to the provisions of § 23-50-101 et seq.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-3-314 — AR Code / Title 23 / Chapter 3 / Subchapter 3 / Section 23-3-314
Stay of order pending review
Status: in_force

(a) The filing of an application for rehearing under § 23-3-312 shall not, unless specifically ordered by the Arkansas Public Service Commission, operate as a stay of the commission's order. (b) The commencement of proceedings under § 23-3-313 shall not, unless specifically ordered by the Court of Appeals, operate as a stay of the commission's order. (c) The Court of Appeals may enter an order suspending or staying the operation of an order of the commission pending review of the order provided the other parties are adequately secured against loss due to the delay in the enforcement of the order, in case the order involved is affirmed. The security shall take such form as shall be directed by the court. Acts 1985, No. 343, § 12; A.S.A. 1947, § 73-142.12; Acts 1991, No. 810, § 3.

(a) The filing of an application for rehearing under § 23-3-312 shall not, unless specifically ordered by the Arkansas Public Service Commission, operate as a stay of the commission's order.

(b) The commencement of proceedings under § 23-3-313 shall not, unless specifically ordered by the Court of Appeals, operate as a stay of the commission's order.

(c) The Court of Appeals may enter an order suspending or staying the operation of an order of the commission pending review of the order provided the other parties are adequately secured against loss due to the delay in the enforcement of the order, in case the order involved is affirmed. The security shall take such form as shall be directed by the court.

Acts 1985, No. 343, § 12; A.S.A. 1947, § 73-142.12; Acts 1991, No. 810, § 3.
Ark. Code Ann. § 23-44-106 — AR Code / Title 23 / Chapter 44 / Section 23-44-106
Bucket shops prohibited
Status: in_force

The maintenance or operation of a bucket shop at any point in this state is prohibited. Acts 1929, No. 208, § 5; Pope's Dig., § 3346; A.S.A. 1947, § 68-1005.

The maintenance or operation of a bucket shop at any point in this state is prohibited.

Acts 1929, No. 208, § 5; Pope's Dig., § 3346; A.S.A. 1947, § 68-1005.
Ark. Code Ann. § 23-63-1611 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1611
Reinsurance
Status: in_force

(a) A captive insurance company may provide reinsurance under the Arkansas Insurance Code, on risks ceded by any other insurer. (b) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers that are: (1) Complying with § 23-62-305(a) -(d); or (2) Not complying with § 23-62-305(a) -(d) upon approval of the captive insurance company's business plan by the Insurance Commissioner. Amended by Act 2013, No. 461,§ 1, eff. 3/21/2013. Acts 2001, No. 1391, § 11.

(a) A captive insurance company may provide reinsurance under the Arkansas Insurance Code, on risks ceded by any other insurer.

(b) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers that are: (1) Complying with § 23-62-305(a) -(d); or (2) Not complying with § 23-62-305(a) -(d) upon approval of the captive insurance company's business plan by the Insurance Commissioner.

(1) Complying with § 23-62-305(a) -(d); or

(2) Not complying with § 23-62-305(a) -(d) upon approval of the captive insurance company's business plan by the Insurance Commissioner.

Amended by Act 2013, No. 461,§ 1, eff. 3/21/2013.

Acts 2001, No. 1391, § 11.
Ark. Code Ann. § 23-2-422 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-422
Commission orders - Rehearings
Status: in_force

(a) Any party to a proceeding before the Arkansas Public Service Commission aggrieved by an order issued by the commission may apply for a rehearing within thirty (30) days after the date of mailing of the order of the commission. (b) The application for rehearing shall set forth specifically the grounds upon which the application is based. (c) Upon receiving the application, the commission shall have power to grant or deny rehearing, to abrogate or modify its order without further hearing, or to reopen the record for the purpose of receiving and considering additional evidence. (d) Unless the commission acts upon the application for rehearing within thirty (30) days after it is filed, the application shall be deemed to have been denied. (e) An order or decision made after the rehearing abrogating, changing, or modifying the original order or decision shall have the same force and effect as an original order or decision but shall not affect any right or the enforcement of any right arising from or by virtue of the original order or decision unless so ordered by the commission. Acts 1973, No. 231, § 3; A.S.A. 1947, § 73-229.1; Acts 1991, No. 811, § 1.

(a) Any party to a proceeding before the Arkansas Public Service Commission aggrieved by an order issued by the commission may apply for a rehearing within thirty (30) days after the date of mailing of the order of the commission.

(b) The application for rehearing shall set forth specifically the grounds upon which the application is based.

(c) Upon receiving the application, the commission shall have power to grant or deny rehearing, to abrogate or modify its order without further hearing, or to reopen the record for the purpose of receiving and considering additional evidence.

(d) Unless the commission acts upon the application for rehearing within thirty (30) days after it is filed, the application shall be deemed to have been denied.

(e) An order or decision made after the rehearing abrogating, changing, or modifying the original order or decision shall have the same force and effect as an original order or decision but shall not affect any right or the enforcement of any right arising from or by virtue of the original order or decision unless so ordered by the commission.

Acts 1973, No. 231, § 3; A.S.A. 1947, § 73-229.1; Acts 1991, No. 811, § 1.
Ark. Code Ann. § 23-99-401 — AR Code / Title 23 / Chapter 99 / Subchapter 4 / Section 23-99-401
Short title
Status: in_force

This subchapter shall be known and may be cited as the "Arkansas Health Care Consumer Act". Acts 1997, No. 1196, § 1.

This subchapter shall be known and may be cited as the "Arkansas Health Care Consumer Act".

Acts 1997, No. 1196, § 1.
Ark. Code Ann. § 23-4-619 — AR Code / Title 23 / Chapter 4 / Subchapter 6 / Section 23-4-619
Railroads - Rate reductions
Status: in_force

When any railroad shall be opened for use, the General Assembly may, from time to time, alter or reduce the rates of toll, fare, freights, or other profits upon the road. However, the rates shall not be so reduced without the consent of the corporation as to produce, with the profits, less than fifteen percent (15%) per annum on the capital actually paid in or, unless upon examination of the amounts received and expended to be made by him or her, the Secretary of State shall ascertain that the net income derived by the company from all sources for the year then last past shall have exceeded an annual income of fifteen percent (15%) upon the capital of the corporation actually paid in. Acts 1868, No. 71, § 29, p. 290; C. & M. Dig., § 862; Pope's Dig., § 1066; A.S.A. 1947, § 73-1407.

When any railroad shall be opened for use, the General Assembly may, from time to time, alter or reduce the rates of toll, fare, freights, or other profits upon the road. However, the rates shall not be so reduced without the consent of the corporation as to produce, with the profits, less than fifteen percent (15%) per annum on the capital actually paid in or, unless upon examination of the amounts received and expended to be made by him or her, the Secretary of State shall ascertain that the net income derived by the company from all sources for the year then last past shall have exceeded an annual income of fifteen percent (15%) upon the capital of the corporation actually paid in.

Acts 1868, No. 71, § 29, p. 290; C. & M. Dig., § 862; Pope's Dig., § 1066; A.S.A. 1947, § 73-1407.
Ark. Code Ann. § 23-79-511 — AR Code / Title 23 / Chapter 79 / Subchapter 5 / Section 23-79-511
Confidentiality
Status: in_force

(a) (1) All steps necessary under state and federal law to protect confidentiality of applicants and covered persons shall be undertaken by the Board of Directors of the Arkansas Comprehensive Health Insurance Pool to prevent the identification of individual records of covered persons under the plan, rejected by the plan, or who may become ineligible for further participation in the plan. (2) Procedures shall be written by the board to assure the confidentiality of records of persons covered under, rejected by, or who became ineligible for further participation in the plan when gathering and submitting data to the board or any other entity. (b) Any information submitted to the board by hospitals or any other provider pursuant to this subchapter from which the identity of a particular individual can be determined shall be privileged and confidential and shall not be disclosed in any manner. The foregoing includes, but shall not be limited to, disclosure, inspection, or copying under the Freedom of Information Act of 1967, § 25-19-101 et seq. Acts 1997, No. 292, § 11.

(a) (1) All steps necessary under state and federal law to protect confidentiality of applicants and covered persons shall be undertaken by the Board of Directors of the Arkansas Comprehensive Health Insurance Pool to prevent the identification of individual records of covered persons under the plan, rejected by the plan, or who may become ineligible for further participation in the plan. (2) Procedures shall be written by the board to assure the confidentiality of records of persons covered under, rejected by, or who became ineligible for further participation in the plan when gathering and submitting data to the board or any other entity.

(1) All steps necessary under state and federal law to protect confidentiality of applicants and covered persons shall be undertaken by the Board of Directors of the Arkansas Comprehensive Health Insurance Pool to prevent the identification of individual records of covered persons under the plan, rejected by the plan, or who may become ineligible for further participation in the plan.

(2) Procedures shall be written by the board to assure the confidentiality of records of persons covered under, rejected by, or who became ineligible for further participation in the plan when gathering and submitting data to the board or any other entity.

(b) Any information submitted to the board by hospitals or any other provider pursuant to this subchapter from which the identity of a particular individual can be determined shall be privileged and confidential and shall not be disclosed in any manner. The foregoing includes, but shall not be limited to, disclosure, inspection, or copying under the Freedom of Information Act of 1967, § 25-19-101 et seq.

Acts 1997, No. 292, § 11.
Ark. Code Ann. § 23-11-216 — AR Code / Title 23 / Chapter 11 / Subchapter 2 / Section 23-11-216
Board of directors - Issuance of bonds, certificates of indebtedness - Security
Status: in_force

In addition to the rights and powers conferred on railroad corporations by their charters and the laws of this state, the directors are authorized and empowered, by and with the consent or approval of a majority of the stockholders, to cause to be issued and executed, bonds or other evidences of indebtedness whenever deemed expedient and to secure the payment of the indebtedness by a mortgage or deed of trust or other encumbrance of all or any part of their charters, franchises, income, rights-of-way, materials, roadbeds, rails, railroads built and to be built, rolling stock, lands, and other corporate properties owned or afterward acquired. Acts 1868, No. 71, § 43, p. 290; Act 4/29/1873, § 4 (not published); C. & M. Dig., §§ 8449, 8553; Pope's Dig., §§ 11023, 11129; Acts 1959, No. 30, § 18; A.S.A. 1947, § 73-329.

In addition to the rights and powers conferred on railroad corporations by their charters and the laws of this state, the directors are authorized and empowered, by and with the consent or approval of a majority of the stockholders, to cause to be issued and executed, bonds or other evidences of indebtedness whenever deemed expedient and to secure the payment of the indebtedness by a mortgage or deed of trust or other encumbrance of all or any part of their charters, franchises, income, rights-of-way, materials, roadbeds, rails, railroads built and to be built, rolling stock, lands, and other corporate properties owned or afterward acquired.

Acts 1868, No. 71, § 43, p. 290; Act 4/29/1873, § 4 (not published); C. & M. Dig., §§ 8449, 8553; Pope's Dig., §§ 11023, 11129; Acts 1959, No. 30, § 18; A.S.A. 1947, § 73-329.
Ark. Code Ann. § 23-48-1009 — AR Code / Title 23 / Chapter 48 / Subchapter 10 / Section 23-48-1009
Grounds for revocation
Status: in_force

The Bank Commissioner may commence a proceeding under § 23-48-1010 to revoke the certificate of authority of a registered out-of-state bank if: (1) The out-of-state bank does not deliver its annual franchise tax report to the Secretary of State within sixty (60) days after it is due; (2) The out-of-state bank does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by this chapter or other law; (3) The out-of-state bank is without a registered agent or registered office in this state for sixty (60) days or more; (4) The out-of-state bank does not inform the commissioner under § 23-48-1005 or § 23-48-1006 that its registered agent or registered office has changed, that its registered agent has resigned, or that its registered office has been discontinued within sixty (60) days of the change, resignation, or discontinuance; (5) The out-of-state bank or an officer, director, or employee thereof is found to be violating federal banking laws or regulations, violating the banking laws of this state or department rules, violating any regulatory agreement, or jeopardizing the safety and soundness of the out-of-state bank; (6) An incorporator, director, officer, or agent of the out-of-state bank signed a document he or she knew was false in any material respect with intent that the document be delivered to the commissioner for filing; or (7) The commissioner receives a duly authenticated certificate from the bank supervisory agency or other official having custody of the corporate records of banking institutions in the state or country under whose law the out-of-state bank is chartered stating that it has been dissolved or disappeared as the result of a merger. Amended by Act 2021, No. 523,§ 12, eff. 4/1/2021. Amended by Act 2019, No. 819,§ 13, eff. 5/1/2021. Amended by Act 2019, No. 315,§ 2555, eff. 7/24/2019. Acts 1997, No. 408, § 20.

The Bank Commissioner may commence a proceeding under § 23-48-1010 to revoke the certificate of authority of a registered out-of-state bank if:

(1) The out-of-state bank does not deliver its annual franchise tax report to the Secretary of State within sixty (60) days after it is due;

(2) The out-of-state bank does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by this chapter or other law;

(3) The out-of-state bank is without a registered agent or registered office in this state for sixty (60) days or more;

(4) The out-of-state bank does not inform the commissioner under § 23-48-1005 or § 23-48-1006 that its registered agent or registered office has changed, that its registered agent has resigned, or that its registered office has been discontinued within sixty (60) days of the change, resignation, or discontinuance;

(5) The out-of-state bank or an officer, director, or employee thereof is found to be violating federal banking laws or regulations, violating the banking laws of this state or department rules, violating any regulatory agreement, or jeopardizing the safety and soundness of the out-of-state bank;

(6) An incorporator, director, officer, or agent of the out-of-state bank signed a document he or she knew was false in any material respect with intent that the document be delivered to the commissioner for filing; or

(7) The commissioner receives a duly authenticated certificate from the bank supervisory agency or other official having custody of the corporate records of banking institutions in the state or country under whose law the out-of-state bank is chartered stating that it has been dissolved or disappeared as the result of a merger.

Amended by Act 2021, No. 523,§ 12, eff. 4/1/2021.

Amended by Act 2019, No. 819,§ 13, eff. 5/1/2021.

Amended by Act 2019, No. 315,§ 2555, eff. 7/24/2019.

Acts 1997, No. 408, § 20.
Ark. Code Ann. § 23-81-201 — AR Code / Title 23 / Chapter 81 / Subchapter 2 / Section 23-81-201
Title
Status: in_force

This subchapter shall be known and may be cited as the "Standard Nonforfeiture Law for Life Insurance". Amended by Act 2015, No. 1223,§ 32, eff. 7/22/2015. Acts 1959, No. 148, § 336; 1977, No. 550, § 1; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.

This subchapter shall be known and may be cited as the "Standard Nonforfeiture Law for Life Insurance".

Amended by Act 2015, No. 1223,§ 32, eff. 7/22/2015.

Acts 1959, No. 148, § 336; 1977, No. 550, § 1; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.
Ark. Code Ann. § 23-81-812 — AR Code / Title 23 / Chapter 81 / Subchapter 8 / Section 23-81-812
Authority to promulgate rules - Conflict of laws
Status: in_force

(a) The Insurance Commissioner may promulgate rules implementing this subchapter regulating the activities and relationships of providers, brokers, insurers, and their agents, subject to statutory limitations on administrative rulemaking. (b) CONFLICT OF LAWS. (1) (A) If there is more than one (1) owner on a single policy and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one (1) owner agreed upon in writing by all of the owners. (B) The law of the state of the insured shall govern if equal owners fail to agree in writing upon a state of residence for jurisdictional purposes. (2) (A) A provider from this state who enters into a life settlement contract with an owner who is a resident of another state that has enacted statutes or adopted regulations governing life settlement contracts shall be governed in the effectuation of that life settlement contract by the statutes and regulations of the owner's state of residence. (B) If the state in which the owner is a resident has not enacted statutes or regulations governing life settlement contracts, the provider shall give the owner notice that neither state regulates the transaction upon which he or she is entering. (C) For transactions in those states, however, the provider shall maintain all records required if the transactions were executed in the state of residence. The forms used in those states need not be approved by the State Insurance Department. (3) If there is a conflict in the laws that apply to an owner and a purchaser in any individual transaction, the laws of the state that apply to the owner shall take precedence, and the provider shall comply with those laws. Acts 2009, No. 796, § 1.

(a) The Insurance Commissioner may promulgate rules implementing this subchapter regulating the activities and relationships of providers, brokers, insurers, and their agents, subject to statutory limitations on administrative rulemaking.

(b) CONFLICT OF LAWS. (1) (A) If there is more than one (1) owner on a single policy and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one (1) owner agreed upon in writing by all of the owners. (B) The law of the state of the insured shall govern if equal owners fail to agree in writing upon a state of residence for jurisdictional purposes. (2) (A) A provider from this state who enters into a life settlement contract with an owner who is a resident of another state that has enacted statutes or adopted regulations governing life settlement contracts shall be governed in the effectuation of that life settlement contract by the statutes and regulations of the owner's state of residence. (B) If the state in which the owner is a resident has not enacted statutes or regulations governing life settlement contracts, the provider shall give the owner notice that neither state regulates the transaction upon which he or she is entering. (C) For transactions in those states, however, the provider shall maintain all records required if the transactions were executed in the state of residence. The forms used in those states need not be approved by the State Insurance Department. (3) If there is a conflict in the laws that apply to an owner and a purchaser in any individual transaction, the laws of the state that apply to the owner shall take precedence, and the provider shall comply with those laws.

(1) (A) If there is more than one (1) owner on a single policy and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one (1) owner agreed upon in writing by all of the owners. (B) The law of the state of the insured shall govern if equal owners fail to agree in writing upon a state of residence for jurisdictional purposes.

(A) If there is more than one (1) owner on a single policy and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one (1) owner agreed upon in writing by all of the owners.

(B) The law of the state of the insured shall govern if equal owners fail to agree in writing upon a state of residence for jurisdictional purposes.

(2) (A) A provider from this state who enters into a life settlement contract with an owner who is a resident of another state that has enacted statutes or adopted regulations governing life settlement contracts shall be governed in the effectuation of that life settlement contract by the statutes and regulations of the owner's state of residence. (B) If the state in which the owner is a resident has not enacted statutes or regulations governing life settlement contracts, the provider shall give the owner notice that neither state regulates the transaction upon which he or she is entering. (C) For transactions in those states, however, the provider shall maintain all records required if the transactions were executed in the state of residence. The forms used in those states need not be approved by the State Insurance Department.

(A) A provider from this state who enters into a life settlement contract with an owner who is a resident of another state that has enacted statutes or adopted regulations governing life settlement contracts shall be governed in the effectuation of that life settlement contract by the statutes and regulations of the owner's state of residence.

(B) If the state in which the owner is a resident has not enacted statutes or regulations governing life settlement contracts, the provider shall give the owner notice that neither state regulates the transaction upon which he or she is entering.

(C) For transactions in those states, however, the provider shall maintain all records required if the transactions were executed in the state of residence. The forms used in those states need not be approved by the State Insurance Department.

(3) If there is a conflict in the laws that apply to an owner and a purchaser in any individual transaction, the laws of the state that apply to the owner shall take precedence, and the provider shall comply with those laws.

Acts 2009, No. 796, § 1.
Ark. Code Ann. § 23-67-402 — AR Code / Title 23 / Chapter 67 / Subchapter 4 / Section 23-67-402
Purpose
Status: in_force

The purpose of this subchapter is to regulate the use of credit information for personal insurance so that consumers are afforded certain protections with respect to the use of the information. Acts 2003, No. 1452, § 2.

The purpose of this subchapter is to regulate the use of credit information for personal insurance so that consumers are afforded certain protections with respect to the use of the information.

Acts 2003, No. 1452, § 2.
Ark. Code Ann. § 23-42-213 — AR Code / Title 23 / Chapter 42 / Subchapter 2 / Section 23-42-213
Disposition of fines - Investor Education Fund
Status: in_force

(a) There is created on the books of the Chief Fiscal Officer of the State, the Auditor of State, and the Treasurer of State a fund to be known as the "Investor Education Fund". (b) Except as provided by subsection (c) of this section, all fines imposed and collected under §§ 23-42-209 and 23-42-308 shall be deposited as special revenues into the State Treasury and credited to the fund, to be administered by the Securities Commissioner for the following purposes: (1) To inform and educate the public regarding investments in securities in order to help investors and potential investors: (A) Evaluate their investment decisions; (B) Protect themselves from unfair, inequitable, or fraudulent offerings; (C) Choose their broker-dealers, agents, and investment advisers more carefully; (D) Be alert for false or misleading advertising or other harmful practices; and (E) Know their rights as investors; and (2) To pay for: (A) Costs, expenses, and charges incurred by the State Securities Department in connection with the presentation and dissemination of information to the public as described in this section, including costs of printing copies of the Arkansas Securities Act, § 23-42-101 et seq., Rules of the Arkansas Securities Commissioner, and other materials designed to inform the public as set forth in this section; (B) Costs of advertising and promotional materials designed to accomplish the purposes of this subdivision (b)(2); (C) Costs of equipment necessary or useful for such presentations; and (D) Costs and expenses associated with conducting a stock market game for educational purposes in selected schools in the state's public school system. (c) Fines collected in excess of one hundred fifty thousand dollars ($150,000) in any one (1) fiscal year shall be deposited as general revenues. Amended by Act 2017, No. 668,§ 16, eff. 8/1/2017. Amended by Act 2017, No. 668,§ 15, eff. 8/1/2017. Amended by Act 2013, No. 460,§ 5, eff. 8/16/2013. Acts 2003, No. 759, § 2.

(a) There is created on the books of the Chief Fiscal Officer of the State, the Auditor of State, and the Treasurer of State a fund to be known as the "Investor Education Fund".

(b) Except as provided by subsection (c) of this section, all fines imposed and collected under §§ 23-42-209 and 23-42-308 shall be deposited as special revenues into the State Treasury and credited to the fund, to be administered by the Securities Commissioner for the following purposes: (1) To inform and educate the public regarding investments in securities in order to help investors and potential investors: (A) Evaluate their investment decisions; (B) Protect themselves from unfair, inequitable, or fraudulent offerings; (C) Choose their broker-dealers, agents, and investment advisers more carefully; (D) Be alert for false or misleading advertising or other harmful practices; and (E) Know their rights as investors; and (2) To pay for: (A) Costs, expenses, and charges incurred by the State Securities Department in connection with the presentation and dissemination of information to the public as described in this section, including costs of printing copies of the Arkansas Securities Act, § 23-42-101 et seq., Rules of the Arkansas Securities Commissioner, and other materials designed to inform the public as set forth in this section; (B) Costs of advertising and promotional materials designed to accomplish the purposes of this subdivision (b)(2); (C) Costs of equipment necessary or useful for such presentations; and (D) Costs and expenses associated with conducting a stock market game for educational purposes in selected schools in the state's public school system.

(1) To inform and educate the public regarding investments in securities in order to help investors and potential investors: (A) Evaluate their investment decisions; (B) Protect themselves from unfair, inequitable, or fraudulent offerings; (C) Choose their broker-dealers, agents, and investment advisers more carefully; (D) Be alert for false or misleading advertising or other harmful practices; and (E) Know their rights as investors; and

(A) Evaluate their investment decisions;

(B) Protect themselves from unfair, inequitable, or fraudulent offerings;

(C) Choose their broker-dealers, agents, and investment advisers more carefully;

(D) Be alert for false or misleading advertising or other harmful practices; and

(E) Know their rights as investors; and

(2) To pay for: (A) Costs, expenses, and charges incurred by the State Securities Department in connection with the presentation and dissemination of information to the public as described in this section, including costs of printing copies of the Arkansas Securities Act, § 23-42-101 et seq., Rules of the Arkansas Securities Commissioner, and other materials designed to inform the public as set forth in this section; (B) Costs of advertising and promotional materials designed to accomplish the purposes of this subdivision (b)(2); (C) Costs of equipment necessary or useful for such presentations; and (D) Costs and expenses associated with conducting a stock market game for educational purposes in selected schools in the state's public school system.

(A) Costs, expenses, and charges incurred by the State Securities Department in connection with the presentation and dissemination of information to the public as described in this section, including costs of printing copies of the Arkansas Securities Act, § 23-42-101 et seq., Rules of the Arkansas Securities Commissioner, and other materials designed to inform the public as set forth in this section;

(B) Costs of advertising and promotional materials designed to accomplish the purposes of this subdivision (b)(2);

(C) Costs of equipment necessary or useful for such presentations; and

(D) Costs and expenses associated with conducting a stock market game for educational purposes in selected schools in the state's public school system.

(c) Fines collected in excess of one hundred fifty thousand dollars ($150,000) in any one (1) fiscal year shall be deposited as general revenues.

Amended by Act 2017, No. 668,§ 16, eff. 8/1/2017.

Amended by Act 2017, No. 668,§ 15, eff. 8/1/2017.

Amended by Act 2013, No. 460,§ 5, eff. 8/16/2013.

Acts 2003, No. 759, § 2.
Ark. Code Ann. § 23-62-204 — AR Code / Title 23 / Chapter 62 / Subchapter 2 / Section 23-62-204
Allowance of credit
Status: in_force

(a) (1) Except as provided in subsection (b) of this section, no credit shall be allowed as an asset or a deduction from liability to any ceding insurer for reinsurance unless the reinsurance contract provides that in the event of the insolvency of the ceding insurer, the reinsurance is payable under one (1) or more contracts reinsured by the assuming insurer on the basis of reported claims allowed by the liquidation court without diminution because of the insolvency of the ceding insurer. (2) The payments shall be made directly to the ceding insurer or to its domiciliary liquidator unless: (A) The contract or other written agreement specifically provides another payee of the reinsurance in the event of the insolvency of the ceding insurer; or (B) The assuming insurer with the consent of the direct insured or insureds has assumed the policy obligations of the ceding insurer as direct obligations of the assuming insurer to the payees under the policies and in substitution for the obligations of the ceding insurer to the payees. (b) (1) If a life and health insurance guaranty association has made the election to succeed to the rights and obligations of the insolvent insurer under the contract of reinsurance, then the reinsurer's liability to pay covered reinsured claims shall continue under the contract of reinsurance, provided that the reinsurer is paid the reinsurance premiums for coverage. (2) Payment of the reinsured claims shall be made by the reinsurer only pursuant to the direction of the guaranty association or its designated successor. (3) Any claim payment made at the direction of the guaranty association or its designated successor by the reinsurer will discharge the reinsurer of all further liability to any other party for the payment. (c) (1) The reinsurance agreement may provide that the domiciliary liquidator of an insolvent ceding insurer shall give written notice to the assuming insurer of the pendency of a claim against the ceding insurer on the contract reinsured within a reasonable time after the claim is filed in the liquidation proceeding. (2) During the pendency of the claim, any assuming insurer may investigate the claim and interpose at its own expense in the proceeding any defenses which it deems available to the ceding insurer or its liquidator. (3) The expense of asserting a defense may be filed as a claim against the insolvent ceding insurer to the extent of a proportionate share of the benefit which may accrue to the ceding insurer solely as a result of the defense undertaken by the assuming insurer. (4) If two (2) or more assuming insurers are involved in a claim and a majority in interest elect to interpose one (1) or more defenses to the claim, the expense shall be apportioned in accordance with the terms of the reinsurance agreement as though the expense had been incurred by the ceding insurer. Acts 1959, No. 148, § 81; 1985, No. 804, § 8; A.S.A. 1947, § 66-2410; Acts 2005, No. 506, § 11.

(a) (1) Except as provided in subsection (b) of this section, no credit shall be allowed as an asset or a deduction from liability to any ceding insurer for reinsurance unless the reinsurance contract provides that in the event of the insolvency of the ceding insurer, the reinsurance is payable under one (1) or more contracts reinsured by the assuming insurer on the basis of reported claims allowed by the liquidation court without diminution because of the insolvency of the ceding insurer. (2) The payments shall be made directly to the ceding insurer or to its domiciliary liquidator unless: (A) The contract or other written agreement specifically provides another payee of the reinsurance in the event of the insolvency of the ceding insurer; or (B) The assuming insurer with the consent of the direct insured or insureds has assumed the policy obligations of the ceding insurer as direct obligations of the assuming insurer to the payees under the policies and in substitution for the obligations of the ceding insurer to the payees.

(1) Except as provided in subsection (b) of this section, no credit shall be allowed as an asset or a deduction from liability to any ceding insurer for reinsurance unless the reinsurance contract provides that in the event of the insolvency of the ceding insurer, the reinsurance is payable under one (1) or more contracts reinsured by the assuming insurer on the basis of reported claims allowed by the liquidation court without diminution because of the insolvency of the ceding insurer.

(2) The payments shall be made directly to the ceding insurer or to its domiciliary liquidator unless: (A) The contract or other written agreement specifically provides another payee of the reinsurance in the event of the insolvency of the ceding insurer; or (B) The assuming insurer with the consent of the direct insured or insureds has assumed the policy obligations of the ceding insurer as direct obligations of the assuming insurer to the payees under the policies and in substitution for the obligations of the ceding insurer to the payees.

(A) The contract or other written agreement specifically provides another payee of the reinsurance in the event of the insolvency of the ceding insurer; or

(B) The assuming insurer with the consent of the direct insured or insureds has assumed the policy obligations of the ceding insurer as direct obligations of the assuming insurer to the payees under the policies and in substitution for the obligations of the ceding insurer to the payees.

(b) (1) If a life and health insurance guaranty association has made the election to succeed to the rights and obligations of the insolvent insurer under the contract of reinsurance, then the reinsurer's liability to pay covered reinsured claims shall continue under the contract of reinsurance, provided that the reinsurer is paid the reinsurance premiums for coverage. (2) Payment of the reinsured claims shall be made by the reinsurer only pursuant to the direction of the guaranty association or its designated successor. (3) Any claim payment made at the direction of the guaranty association or its designated successor by the reinsurer will discharge the reinsurer of all further liability to any other party for the payment.

(1) If a life and health insurance guaranty association has made the election to succeed to the rights and obligations of the insolvent insurer under the contract of reinsurance, then the reinsurer's liability to pay covered reinsured claims shall continue under the contract of reinsurance, provided that the reinsurer is paid the reinsurance premiums for coverage.

(2) Payment of the reinsured claims shall be made by the reinsurer only pursuant to the direction of the guaranty association or its designated successor.

(3) Any claim payment made at the direction of the guaranty association or its designated successor by the reinsurer will discharge the reinsurer of all further liability to any other party for the payment.

(c) (1) The reinsurance agreement may provide that the domiciliary liquidator of an insolvent ceding insurer shall give written notice to the assuming insurer of the pendency of a claim against the ceding insurer on the contract reinsured within a reasonable time after the claim is filed in the liquidation proceeding. (2) During the pendency of the claim, any assuming insurer may investigate the claim and interpose at its own expense in the proceeding any defenses which it deems available to the ceding insurer or its liquidator. (3) The expense of asserting a defense may be filed as a claim against the insolvent ceding insurer to the extent of a proportionate share of the benefit which may accrue to the ceding insurer solely as a result of the defense undertaken by the assuming insurer. (4) If two (2) or more assuming insurers are involved in a claim and a majority in interest elect to interpose one (1) or more defenses to the claim, the expense shall be apportioned in accordance with the terms of the reinsurance agreement as though the expense had been incurred by the ceding insurer.

(1) The reinsurance agreement may provide that the domiciliary liquidator of an insolvent ceding insurer shall give written notice to the assuming insurer of the pendency of a claim against the ceding insurer on the contract reinsured within a reasonable time after the claim is filed in the liquidation proceeding.

(2) During the pendency of the claim, any assuming insurer may investigate the claim and interpose at its own expense in the proceeding any defenses which it deems available to the ceding insurer or its liquidator.

(3) The expense of asserting a defense may be filed as a claim against the insolvent ceding insurer to the extent of a proportionate share of the benefit which may accrue to the ceding insurer solely as a result of the defense undertaken by the assuming insurer.

(4) If two (2) or more assuming insurers are involved in a claim and a majority in interest elect to interpose one (1) or more defenses to the claim, the expense shall be apportioned in accordance with the terms of the reinsurance agreement as though the expense had been incurred by the ceding insurer.

Acts 1959, No. 148, § 81; 1985, No. 804, § 8; A.S.A. 1947, § 66-2410; Acts 2005, No. 506, § 11.
Ark. Code Ann. § 23-99-421 — AR Code / Title 23 / Chapter 99 / Subchapter 4 / Section 23-99-421
Pediatric dental benefits - Definitions
Status: in_force

(a) As used in this section: (1) "Exchange" means a health benefit exchange that offers health benefits under a health benefit plan offered by a healthcare insurer in this state through a state-based health insurance exchange or a health insurance exchange operated by the United States Government under the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, and the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152; (2) "Qualified dental plan" means a limited scope dental plan that has a certification that the qualified dental plan meets the criteria for certification under 42 U.S.C. § 18031(d)(2)(B)(ii) , in effect on January 1, 2015; and (3) "Qualified health plan" means a health benefit plan that provides healthcare coverage of essential health benefits under 42 U.S.C. § 18021(a) , in effect on January 1, 2015. (b) Beginning January 1, 2016, a qualified health plan offering healthcare coverage under the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, and the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152, satisfies the minimum essential pediatric oral health benefits under the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, and the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152, for health benefit plans offered through an exchange or outside an exchange that do not include the minimum essential pediatric oral health benefits if the healthcare insurer has reasonable assurance that the minimum essential pediatric oral health benefits are otherwise provided to the purchaser of the health benefit plan. (c) The healthcare insurer shall be considered to have reasonable assurance that the minimum essential pediatric oral health benefits are otherwise provided to the purchaser of the health benefit plan if: (1) At least one (1) qualified dental plan offers the minimum essential pediatric oral health benefits that are available to the purchaser of the health benefit plan; and (2) A qualified health plan prominently discloses at the time of purchase on a form approved by the Insurance Commissioner that the qualified health plan does not provide the minimum essential pediatric oral health benefits. Added by Act 2015, No. 1134,§ 1, eff. 7/22/2015.

(a) As used in this section: (1) "Exchange" means a health benefit exchange that offers health benefits under a health benefit plan offered by a healthcare insurer in this state through a state-based health insurance exchange or a health insurance exchange operated by the United States Government under the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, and the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152; (2) "Qualified dental plan" means a limited scope dental plan that has a certification that the qualified dental plan meets the criteria for certification under 42 U.S.C. § 18031(d)(2)(B)(ii) , in effect on January 1, 2015; and (3) "Qualified health plan" means a health benefit plan that provides healthcare coverage of essential health benefits under 42 U.S.C. § 18021(a) , in effect on January 1, 2015.

(1) "Exchange" means a health benefit exchange that offers health benefits under a health benefit plan offered by a healthcare insurer in this state through a state-based health insurance exchange or a health insurance exchange operated by the United States Government under the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, and the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152;

(2) "Qualified dental plan" means a limited scope dental plan that has a certification that the qualified dental plan meets the criteria for certification under 42 U.S.C. § 18031(d)(2)(B)(ii) , in effect on January 1, 2015; and

(3) "Qualified health plan" means a health benefit plan that provides healthcare coverage of essential health benefits under 42 U.S.C. § 18021(a) , in effect on January 1, 2015.

(b) Beginning January 1, 2016, a qualified health plan offering healthcare coverage under the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, and the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152, satisfies the minimum essential pediatric oral health benefits under the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, and the Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152, for health benefit plans offered through an exchange or outside an exchange that do not include the minimum essential pediatric oral health benefits if the healthcare insurer has reasonable assurance that the minimum essential pediatric oral health benefits are otherwise provided to the purchaser of the health benefit plan.

(c) The healthcare insurer shall be considered to have reasonable assurance that the minimum essential pediatric oral health benefits are otherwise provided to the purchaser of the health benefit plan if: (1) At least one (1) qualified dental plan offers the minimum essential pediatric oral health benefits that are available to the purchaser of the health benefit plan; and (2) A qualified health plan prominently discloses at the time of purchase on a form approved by the Insurance Commissioner that the qualified health plan does not provide the minimum essential pediatric oral health benefits.

(1) At least one (1) qualified dental plan offers the minimum essential pediatric oral health benefits that are available to the purchaser of the health benefit plan; and

(2) A qualified health plan prominently discloses at the time of purchase on a form approved by the Insurance Commissioner that the qualified health plan does not provide the minimum essential pediatric oral health benefits.

Added by Act 2015, No. 1134,§ 1, eff. 7/22/2015.
Ark. Code Ann. § 23-75-115 — AR Code / Title 23 / Chapter 75 / Section 23-75-115
Use of surplus
Status: in_force

Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown: (1) To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, or other similar institutions or persons, upon the settlement of bills with the corporation in any previous years; (2) To return the original working capital contribution to the corporation, or any part thereof, on a pro rata basis; and (3) To reduce rates charged subscribers or to expand the services rendered to them. Acts 1959, No. 148, § 682; 1963, No. 54, § 4; A.S.A. 1947, § 66-4912.

Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown:

(1) To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, or other similar institutions or persons, upon the settlement of bills with the corporation in any previous years;

(2) To return the original working capital contribution to the corporation, or any part thereof, on a pro rata basis; and

(3) To reduce rates charged subscribers or to expand the services rendered to them.

Acts 1959, No. 148, § 682; 1963, No. 54, § 4; A.S.A. 1947, § 66-4912.
Ark. Code Ann. § 23-79-602 — AR Code / Title 23 / Chapter 79 / Subchapter 6 / Section 23-79-602
Diabetes self-management training - Licensed providers - Prescription by physician
Status: in_force

(a) Every health insurance policy shall include coverage for a one-per-lifetime training program per insured for diabetes self-management training when medically necessary as determined by a physician and when provided by an appropriately licensed healthcare professional upon certification by the healthcare professional providing the training that the insured patient has successfully completed the training. (b) Every healthcare insurer shall offer, in addition to the one-lifetime-training program provided in subsection (a) of this section, additional diabetes self-management training in the event that a physician prescribes additional diabetes self-management training and it is medically necessary because of a significant change in the insured's symptoms or conditions. (c) A licensed healthcare professional shall only provide diabetes self-management training within his or her scope of practice after having demonstrated expertise in diabetes care and treatment and after having completed an educational program required by his or her licensing board when that program is in compliance with the National Standards for Diabetes Self-Management Education and Support as developed by the American Diabetes Association. (d) Diabetes self-management training shall be provided only upon prescription by a physician licensed under the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq. (e) Nothing in this subchapter shall be construed to prohibit healthcare insurers from selectively negotiating contracts with qualified providers of diabetes self-management training programs. Acts 1997, No. 1249, § 2.

(a) Every health insurance policy shall include coverage for a one-per-lifetime training program per insured for diabetes self-management training when medically necessary as determined by a physician and when provided by an appropriately licensed healthcare professional upon certification by the healthcare professional providing the training that the insured patient has successfully completed the training.

(b) Every healthcare insurer shall offer, in addition to the one-lifetime-training program provided in subsection (a) of this section, additional diabetes self-management training in the event that a physician prescribes additional diabetes self-management training and it is medically necessary because of a significant change in the insured's symptoms or conditions.

(c) A licensed healthcare professional shall only provide diabetes self-management training within his or her scope of practice after having demonstrated expertise in diabetes care and treatment and after having completed an educational program required by his or her licensing board when that program is in compliance with the National Standards for Diabetes Self-Management Education and Support as developed by the American Diabetes Association.

(d) Diabetes self-management training shall be provided only upon prescription by a physician licensed under the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq.

(e) Nothing in this subchapter shall be construed to prohibit healthcare insurers from selectively negotiating contracts with qualified providers of diabetes self-management training programs.

Acts 1997, No. 1249, § 2.
Ark. Code Ann. § 23-72-112 — AR Code / Title 23 / Chapter 72 / Section 23-72-112
Additional assessments or adjustments of rates or benefits
Status: in_force

An insurer has power to provide in its bylaws for the calling of extra, increased, or additional assessments or for adjustment of rates and benefits when the assessments and contributions from its members prove to be inadequate to meet all claims and expenses. Acts 1959, No. 148, § 567; A.S.A. 1947, § 66-4512.

An insurer has power to provide in its bylaws for the calling of extra, increased, or additional assessments or for adjustment of rates and benefits when the assessments and contributions from its members prove to be inadequate to meet all claims and expenses.

Acts 1959, No. 148, § 567; A.S.A. 1947, § 66-4512.
Ark. Code Ann. § 23-63-1308 — AR Code / Title 23 / Chapter 63 / Subchapter 13 / Section 23-63-1308
Hearings
Status: in_force

(a) (1) If any of the events listed in subsection (b) of this section occurs, the insurer shall have the right to a confidential administrative hearing on record, at which the insurer may challenge any determination or action by the Insurance Commissioner. (2) (A) The insurer shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subsection (b) of this section. (B) On receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing. The date shall be no less than ten (10) nor more than thirty (30) days after the date of the insurer's request. (b) Subsection (a) of this section applies if: (1) The commissioner notifies an insurer of an adjusted RBC report; (2) The commissioner notifies an insurer that: (A) The insurer's RBC plan or revised RBC plan is unsatisfactory; and (B) The notification constitutes a regulatory action level event with respect to the insurer; (3) The commissioner notifies an insurer that the insurer has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer according to its RBC plan or revised RBC plan; or (4) The commissioner notifies an insurer of a corrective order with respect to the insurer. Acts 1995, No. 622, § 1; 2011, No. 760, § 4.

(a) (1) If any of the events listed in subsection (b) of this section occurs, the insurer shall have the right to a confidential administrative hearing on record, at which the insurer may challenge any determination or action by the Insurance Commissioner. (2) (A) The insurer shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subsection (b) of this section. (B) On receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing. The date shall be no less than ten (10) nor more than thirty (30) days after the date of the insurer's request.

(1) If any of the events listed in subsection (b) of this section occurs, the insurer shall have the right to a confidential administrative hearing on record, at which the insurer may challenge any determination or action by the Insurance Commissioner.

(2) (A) The insurer shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subsection (b) of this section. (B) On receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing. The date shall be no less than ten (10) nor more than thirty (30) days after the date of the insurer's request.

(A) The insurer shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subsection (b) of this section.

(B) On receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing. The date shall be no less than ten (10) nor more than thirty (30) days after the date of the insurer's request.

(b) Subsection (a) of this section applies if: (1) The commissioner notifies an insurer of an adjusted RBC report; (2) The commissioner notifies an insurer that: (A) The insurer's RBC plan or revised RBC plan is unsatisfactory; and (B) The notification constitutes a regulatory action level event with respect to the insurer; (3) The commissioner notifies an insurer that the insurer has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer according to its RBC plan or revised RBC plan; or (4) The commissioner notifies an insurer of a corrective order with respect to the insurer.

(1) The commissioner notifies an insurer of an adjusted RBC report;

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

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

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

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

(4) The commissioner notifies an insurer of a corrective order with respect to the insurer.

Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
Ark. Code Ann. § 23-82-115 — AR Code / Title 23 / Chapter 82 / Section 23-82-115
Direct payment of premiums provision
Status: in_force

In the case of weekly premium policies, there may be a provision that upon proper notice to the insurer, while premiums on the policy are not in default beyond the grace period, of the intention to pay future premiums directly to the insurer at its home office or any office designated by the insurer for that purpose, the insurer will, at the end of each period of a year from the due date of the first premium so paid, for which period the premiums are so paid continuously without default beyond the grace period, refund a stated percentage of the premiums in an amount which fairly represents the savings in collection expense. Acts 1959, No. 148, § 359; A.S.A. 1947, § 66-3414.

In the case of weekly premium policies, there may be a provision that upon proper notice to the insurer, while premiums on the policy are not in default beyond the grace period, of the intention to pay future premiums directly to the insurer at its home office or any office designated by the insurer for that purpose, the insurer will, at the end of each period of a year from the due date of the first premium so paid, for which period the premiums are so paid continuously without default beyond the grace period, refund a stated percentage of the premiums in an amount which fairly represents the savings in collection expense.

Acts 1959, No. 148, § 359; A.S.A. 1947, § 66-3414.
Ark. Code Ann. § 23-38-202 — AR Code / Title 23 / Chapter 38 / Subchapter 2 / Section 23-38-202
[Repealed]
Status: repealed

Repealed by Act 2013, No. 1144,§ 4, eff. 8/16/2013. Acts 1929, No. 128, § 15; Pope's Dig., § 991; A.S.A. 1947, § 67-822.

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

Acts 1929, No. 128, § 15; Pope's Dig., § 991; A.S.A. 1947, § 67-822.
Ark. Code Ann. § 23-12-503 — AR Code / Title 23 / Chapter 12 / Subchapter 5 / Section 23-12-503
Liability for injury or death of employee generally
Status: in_force

Every common carrier by railroad in this state shall be liable for all damages to any person suffering injury while he or she is employed by the carrier or, in case of the death of the employee, to his or her personal or legal representative, for the benefit of the surviving widow or husband and children of the employee; if none, then to the employee's parents; if none, then to the next of kin of the employee, for the injury or death resulting in whole or in part: (1) From the negligence of any of the officers, agents, or employees of the carrier; (2) By reason of any insufficiency of clearance of obstructions; of strength of roadbed and tracks or structures, or machinery and equipment; of lights and signals in switching and terminal yards, or rules; and of number of employees to perform the particular duties with safety to themselves and their co-employees, or of any other insufficiency; or (3) By reason of any defect, which defect is due to its negligence in its cars, engines, motors, appliances, machinery, tracks, roadbeds, boats, works, wharves, or other equipment. Amended by Act 2019, No. 315,§ 2411, eff. 7/24/2019. Acts 1911, No. 88, § 1; C. & M. Dig., § 7138; Pope's Dig., § 9124; A.S.A. 1947, § 73-914.

Every common carrier by railroad in this state shall be liable for all damages to any person suffering injury while he or she is employed by the carrier or, in case of the death of the employee, to his or her personal or legal representative, for the benefit of the surviving widow or husband and children of the employee; if none, then to the employee's parents; if none, then to the next of kin of the employee, for the injury or death resulting in whole or in part:

(1) From the negligence of any of the officers, agents, or employees of the carrier;

(2) By reason of any insufficiency of clearance of obstructions; of strength of roadbed and tracks or structures, or machinery and equipment; of lights and signals in switching and terminal yards, or rules; and of number of employees to perform the particular duties with safety to themselves and their co-employees, or of any other insufficiency; or

(3) By reason of any defect, which defect is due to its negligence in its cars, engines, motors, appliances, machinery, tracks, roadbeds, boats, works, wharves, or other equipment.

Amended by Act 2019, No. 315,§ 2411, eff. 7/24/2019.

Acts 1911, No. 88, § 1; C. & M. Dig., § 7138; Pope's Dig., § 9124; A.S.A. 1947, § 73-914.
Ark. Code Ann. § 23-2-403 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-403
Evidence and pleading
Status: in_force

(a) The Arkansas Public Service Commission and the Arkansas Department of Transportation shall prescribe the rules of procedure and for taking of evidence in all matters that may come before them. (b) On the investigations, preparations, and hearing of cases, the commission and the department shall not be bound by the strict technical rules of pleading and evidence, but they may exercise such discretion as will facilitate their efforts to ascertain the facts bearing upon the right and justice of the matters before them. Amended by Act 2017, No. 707,§ 98, eff. 8/1/2017. Acts 1945, No. 40, § 2; A.S.A. 1947, § 73-127.

(a) The Arkansas Public Service Commission and the Arkansas Department of Transportation shall prescribe the rules of procedure and for taking of evidence in all matters that may come before them.

(b) On the investigations, preparations, and hearing of cases, the commission and the department shall not be bound by the strict technical rules of pleading and evidence, but they may exercise such discretion as will facilitate their efforts to ascertain the facts bearing upon the right and justice of the matters before them.

Amended by Act 2017, No. 707,§ 98, eff. 8/1/2017.

Acts 1945, No. 40, § 2; A.S.A. 1947, § 73-127.
Ark. Code Ann. § 23-112-201 — AR Code / Title 23 / Chapter 112 / Subchapter 2 / Section 23-112-201
Arkansas Motor Vehicle Commission - Creation - Members - Officers
Status: in_force

(a) There is created the Arkansas Motor Vehicle Commission, hereinafter referred to as the "commission", to be composed of nine (9) members to be appointed by the Governor for terms of seven (7) years, subject to confirmation by the Senate. (b) (1) One (1) commissioner shall be appointed from each of the four (4) congressional districts of the state as constituted July 1, 1975, and five (5) members of the commission, including the consumer representative and the representative of the elderly, shall be appointed from the state at large. (2) (A) Four (4) members of the commission shall be licensees or shall be qualified as licensees under the provisions of this chapter at the time of their appointment. (B) Five (5) members of the commission shall be appointed from the public at large, including the consumer representative and the representative of the elderly. (C) (i) No more than four (4) members of the commission shall at any time: (a) Be licensees under this chapter; (b) Have any financial interest in or be an officer or an employee of a licensee under this chapter; or (c) Be employed by or own a business or organization that directly or indirectly profits from the sale of new motor vehicles. (ii) At least one (1) of the members shall be licensed as a dealer of franchise motorcycles. (3) (A) The consumer representative and the representative of the elderly shall not be actively engaged in or retired from the businesses regulated by this chapter. (B) The two (2) positions may not be held by the same person. (C) Both shall be full voting members. (D) The representative of the elderly shall: (i) Be sixty (60) years of age or older; (ii) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (iii) Only have experiences with the sale of a new motor vehicle as a consumer. (E) The consumer representative shall: (i) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (ii) Only have experiences with the sale of a new motor vehicle as a consumer. (4) Each of the members appointed shall be a citizen of the United States, a resident of the State of Arkansas, and a qualified elector of the jurisdiction from which appointed, and each shall be of good moral character. (c) In the event a vacancy on the commission occurs due to death, resignation, or other reason, the vacancy shall be filled for the unexpired portion of the term by appointment of the Governor, subject to confirmation by the Senate, of a person meeting the same qualifications required for the initial appointment. (d) Each commission member shall serve until his or her successor is appointed and qualified. (e) The commission shall select by majority vote of its members one (1) of its members as chair, one (1) as vice chair, and one (1) as secretary. (f) (1) The Chair of the Arkansas Motor Vehicle Commission and members of the commission may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq. (2) The chair shall require itemized statements of all reimbursable expenses and shall audit the statements or cause them to be audited before approving them for payment. Acts 1975, No. 388, § 4; 1977, No. 113, §§ 1-3; 1981, No. 717, § 2; 1983, No. 131, §§ 1-3, 5; 1983, No. 135, §§ 1-3, 5; 1985, No. 747, § 1; 1985, No. 1032, § 2; 1985, No. 1058, § 2; A.S.A. 1947, §§ 6-617 -- 6-619, 6-623 -- 6-626, 75-2304; Acts 1989 (1st Ex. Sess.), No. 169, § 6; 1993, No. 383, § 1; 1997, No. 250, § 227; 2005, No. 2311, § 3.

(a) There is created the Arkansas Motor Vehicle Commission, hereinafter referred to as the "commission", to be composed of nine (9) members to be appointed by the Governor for terms of seven (7) years, subject to confirmation by the Senate.

(b) (1) One (1) commissioner shall be appointed from each of the four (4) congressional districts of the state as constituted July 1, 1975, and five (5) members of the commission, including the consumer representative and the representative of the elderly, shall be appointed from the state at large. (2) (A) Four (4) members of the commission shall be licensees or shall be qualified as licensees under the provisions of this chapter at the time of their appointment. (B) Five (5) members of the commission shall be appointed from the public at large, including the consumer representative and the representative of the elderly. (C) (i) No more than four (4) members of the commission shall at any time: (a) Be licensees under this chapter; (b) Have any financial interest in or be an officer or an employee of a licensee under this chapter; or (c) Be employed by or own a business or organization that directly or indirectly profits from the sale of new motor vehicles. (ii) At least one (1) of the members shall be licensed as a dealer of franchise motorcycles. (3) (A) The consumer representative and the representative of the elderly shall not be actively engaged in or retired from the businesses regulated by this chapter. (B) The two (2) positions may not be held by the same person. (C) Both shall be full voting members. (D) The representative of the elderly shall: (i) Be sixty (60) years of age or older; (ii) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (iii) Only have experiences with the sale of a new motor vehicle as a consumer. (E) The consumer representative shall: (i) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (ii) Only have experiences with the sale of a new motor vehicle as a consumer. (4) Each of the members appointed shall be a citizen of the United States, a resident of the State of Arkansas, and a qualified elector of the jurisdiction from which appointed, and each shall be of good moral character.

(1) One (1) commissioner shall be appointed from each of the four (4) congressional districts of the state as constituted July 1, 1975, and five (5) members of the commission, including the consumer representative and the representative of the elderly, shall be appointed from the state at large.

(2) (A) Four (4) members of the commission shall be licensees or shall be qualified as licensees under the provisions of this chapter at the time of their appointment. (B) Five (5) members of the commission shall be appointed from the public at large, including the consumer representative and the representative of the elderly. (C) (i) No more than four (4) members of the commission shall at any time: (a) Be licensees under this chapter; (b) Have any financial interest in or be an officer or an employee of a licensee under this chapter; or (c) Be employed by or own a business or organization that directly or indirectly profits from the sale of new motor vehicles. (ii) At least one (1) of the members shall be licensed as a dealer of franchise motorcycles.

(A) Four (4) members of the commission shall be licensees or shall be qualified as licensees under the provisions of this chapter at the time of their appointment.

(B) Five (5) members of the commission shall be appointed from the public at large, including the consumer representative and the representative of the elderly.

(C) (i) No more than four (4) members of the commission shall at any time: (a) Be licensees under this chapter; (b) Have any financial interest in or be an officer or an employee of a licensee under this chapter; or (c) Be employed by or own a business or organization that directly or indirectly profits from the sale of new motor vehicles. (ii) At least one (1) of the members shall be licensed as a dealer of franchise motorcycles.

(i) No more than four (4) members of the commission shall at any time: (a) Be licensees under this chapter; (b) Have any financial interest in or be an officer or an employee of a licensee under this chapter; or (c) Be employed by or own a business or organization that directly or indirectly profits from the sale of new motor vehicles.

(a) Be licensees under this chapter;

(b) Have any financial interest in or be an officer or an employee of a licensee under this chapter; or

(c) Be employed by or own a business or organization that directly or indirectly profits from the sale of new motor vehicles.

(ii) At least one (1) of the members shall be licensed as a dealer of franchise motorcycles.

(3) (A) The consumer representative and the representative of the elderly shall not be actively engaged in or retired from the businesses regulated by this chapter. (B) The two (2) positions may not be held by the same person. (C) Both shall be full voting members. (D) The representative of the elderly shall: (i) Be sixty (60) years of age or older; (ii) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (iii) Only have experiences with the sale of a new motor vehicle as a consumer. (E) The consumer representative shall: (i) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (ii) Only have experiences with the sale of a new motor vehicle as a consumer.

(A) The consumer representative and the representative of the elderly shall not be actively engaged in or retired from the businesses regulated by this chapter.

(B) The two (2) positions may not be held by the same person.

(C) Both shall be full voting members.

(D) The representative of the elderly shall: (i) Be sixty (60) years of age or older; (ii) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (iii) Only have experiences with the sale of a new motor vehicle as a consumer.

(i) Be sixty (60) years of age or older;

(ii) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and

(iii) Only have experiences with the sale of a new motor vehicle as a consumer.

(E) The consumer representative shall: (i) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and (ii) Only have experiences with the sale of a new motor vehicle as a consumer.

(i) Not be employed by or own any business or organization that directly or indirectly profits from the sale of new motor vehicles; and

(ii) Only have experiences with the sale of a new motor vehicle as a consumer.

(4) Each of the members appointed shall be a citizen of the United States, a resident of the State of Arkansas, and a qualified elector of the jurisdiction from which appointed, and each shall be of good moral character.

(c) In the event a vacancy on the commission occurs due to death, resignation, or other reason, the vacancy shall be filled for the unexpired portion of the term by appointment of the Governor, subject to confirmation by the Senate, of a person meeting the same qualifications required for the initial appointment.

(d) Each commission member shall serve until his or her successor is appointed and qualified.

(e) The commission shall select by majority vote of its members one (1) of its members as chair, one (1) as vice chair, and one (1) as secretary.

(f) (1) The Chair of the Arkansas Motor Vehicle Commission and members of the commission may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq. (2) The chair shall require itemized statements of all reimbursable expenses and shall audit the statements or cause them to be audited before approving them for payment.

(1) The Chair of the Arkansas Motor Vehicle Commission and members of the commission may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq.

(2) The chair shall require itemized statements of all reimbursable expenses and shall audit the statements or cause them to be audited before approving them for payment.

Acts 1975, No. 388, § 4; 1977, No. 113, §§ 1-3; 1981, No. 717, § 2; 1983, No. 131, §§ 1-3, 5; 1983, No. 135, §§ 1-3, 5; 1985, No. 747, § 1; 1985, No. 1032, § 2; 1985, No. 1058, § 2; A.S.A. 1947, §§ 6-617 -- 6-619, 6-623 -- 6-626, 75-2304; Acts 1989 (1st Ex. Sess.), No. 169, § 6; 1993, No. 383, § 1; 1997, No. 250, § 227; 2005, No. 2311, § 3.
Ark. Code Ann. § 23-61-603 — AR Code / Title 23 / Chapter 61 / Subchapter 6 / Section 23-61-603
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Risk management" means the minimization of loss through the discovery of loss sources, evaluation of the impact of a possible loss on the organization, and the selection of the most effective and efficient technique of dealing with risk of loss; (2) "Risk manager" means the Administrator of the Risk Management Division; and (3) "State agencies" means any agencies, boards, bureaus, commissions, councils, departments, institutions, or other establishments of this state. Acts 1981, No. 272, § 2; A.S.A. 1947, § 66-5702.

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

(1) "Risk management" means the minimization of loss through the discovery of loss sources, evaluation of the impact of a possible loss on the organization, and the selection of the most effective and efficient technique of dealing with risk of loss;

(2) "Risk manager" means the Administrator of the Risk Management Division; and

(3) "State agencies" means any agencies, boards, bureaus, commissions, councils, departments, institutions, or other establishments of this state.

Acts 1981, No. 272, § 2; A.S.A. 1947, § 66-5702.
Ark. Code Ann. § 23-10-404 — AR Code / Title 23 / Chapter 10 / Subchapter 4 / Section 23-10-404
Remedies in sections 23-10-438 - 23-10-440 cumulative
Status: in_force

The remedies given by §§ 23-10-438 - 23-10-440 shall be regarded as cumulative, and §§ 23-10-438 - 23-10-440 shall not be construed as repealing any statute giving such remedies. Acts 1909, No. 233, § 4, p. 698; A.S.A. 1947, § 73-1334.

The remedies given by §§ 23-10-438 - 23-10-440 shall be regarded as cumulative, and §§ 23-10-438 - 23-10-440 shall not be construed as repealing any statute giving such remedies.

Acts 1909, No. 233, § 4, p. 698; A.S.A. 1947, § 73-1334.
Ark. Code Ann. § 23-12-707 — AR Code / Title 23 / Chapter 12 / Subchapter 7 / Section 23-12-707
Railroad police - Termination of powers
Status: in_force

When a company no longer requires the services of a railroad police officer, it shall file a notice to that effect with the Secretary of State. Thereupon, the powers of the police officer shall terminate. Acts 1973, No. 57, § 6; A.S.A. 1947, § 73-639.

When a company no longer requires the services of a railroad police officer, it shall file a notice to that effect with the Secretary of State. Thereupon, the powers of the police officer shall terminate.

Acts 1973, No. 57, § 6; A.S.A. 1947, § 73-639.
Ark. Code Ann. § 23-35-307 — AR Code / Title 23 / Chapter 35 / Subchapter 3 / Section 23-35-307
Supervisory committee
Status: in_force

(a) The supervisory committee of the credit union shall make or cause to be made, at least annually: (1) An examination of the affairs of the credit union, including an audit of its books; (2) A report of its annual examination to the board of directors of the credit union; and (3) An audit, a report of which shall be submitted to members at the next annual meeting of the credit union. (b) The supervisory committee shall cause the passbooks and accounts of the members to be verified with the records of the treasurer at least once a year. The term "passbook" shall include any book, statement of accounts, or other pertinent or related record. (c) The supervisory committee may suspend, by a unanimous vote, any officer of the credit union or any member of the credit committee or of the board, until the next members' meeting, which shall not be less than seven (7) days nor more than fourteen (14) days after the suspension. At the meeting, the suspension shall be acted upon by the members. (d) The supervisory committee may call, by a majority vote, a special meeting of the members to consider any violation of this chapter, the charter, the bylaws, or any practice of the credit union deemed by the committee to be unsafe or unauthorized. (e) Any member of the supervisory committee may be suspended by the board, upon majority vote. The members shall decide, at a meeting held not less than seven (7) days nor more than fourteen (14) days after the suspension, whether the suspended committee member shall be removed from or restored to the supervisory committee. Acts 1971, No. 132, § 17; 1979, No. 206, § 6; A.S.A. 1947, § 67-917.

(a) The supervisory committee of the credit union shall make or cause to be made, at least annually: (1) An examination of the affairs of the credit union, including an audit of its books; (2) A report of its annual examination to the board of directors of the credit union; and (3) An audit, a report of which shall be submitted to members at the next annual meeting of the credit union.

(1) An examination of the affairs of the credit union, including an audit of its books;

(2) A report of its annual examination to the board of directors of the credit union; and

(3) An audit, a report of which shall be submitted to members at the next annual meeting of the credit union.

(b) The supervisory committee shall cause the passbooks and accounts of the members to be verified with the records of the treasurer at least once a year. The term "passbook" shall include any book, statement of accounts, or other pertinent or related record.

(c) The supervisory committee may suspend, by a unanimous vote, any officer of the credit union or any member of the credit committee or of the board, until the next members' meeting, which shall not be less than seven (7) days nor more than fourteen (14) days after the suspension. At the meeting, the suspension shall be acted upon by the members.

(d) The supervisory committee may call, by a majority vote, a special meeting of the members to consider any violation of this chapter, the charter, the bylaws, or any practice of the credit union deemed by the committee to be unsafe or unauthorized.

(e) Any member of the supervisory committee may be suspended by the board, upon majority vote. The members shall decide, at a meeting held not less than seven (7) days nor more than fourteen (14) days after the suspension, whether the suspended committee member shall be removed from or restored to the supervisory committee.

Acts 1971, No. 132, § 17; 1979, No. 206, § 6; A.S.A. 1947, § 67-917.
Ark. Code Ann. § 23-11-308 — AR Code / Title 23 / Chapter 11 / Subchapter 3 / Section 23-11-308
Bonds issued by leasing, purchasing, or consolidating corporation - Security for bonds
Status: in_force

(a) For the purpose of carrying out and executing any or all of the powers granted in §§ 23-11-301 , 23-11-303 - 23-11-306 , 23-11-309 , and 23-11-315 , bonds or other evidences of debt may be issued by any leasing, purchasing, or consolidating corporation, not inconsistent with the Arkansas Constitution. (b) Mortgages or deeds of trust may be executed by the corporation on any or all of its real, personal, or mixed property and upon its roadbed, rights-of-way, cars, locomotives, and other rolling stock and equipment, its machinery, tools, implements, fuel, material, and income, either within or without this state, and on all other things or property held or to be acquired for the construction, operation, or repair of the railroad or for the repair or replacement of any other equipment or appurtenances as a part and parcel of the railroad and as constituting with the railroad one (1) property and a continuous railroad line in order to secure the payment of the bonds or other evidences of debt. Included in the property subject to the mortgages or deeds of trust shall be the franchise of acting as and being a corporation and all other franchises, rights, and privileges granted by this act or in any way appertaining to the corporations as aforesaid. Acts 1881, No. 43, § 4, p. 79; C. & M. Dig., § 8529; Pope's Dig., § 11105; A.S.A. 1947, § 73-416.

(a) For the purpose of carrying out and executing any or all of the powers granted in §§ 23-11-301 , 23-11-303 - 23-11-306 , 23-11-309 , and 23-11-315 , bonds or other evidences of debt may be issued by any leasing, purchasing, or consolidating corporation, not inconsistent with the Arkansas Constitution.

(b) Mortgages or deeds of trust may be executed by the corporation on any or all of its real, personal, or mixed property and upon its roadbed, rights-of-way, cars, locomotives, and other rolling stock and equipment, its machinery, tools, implements, fuel, material, and income, either within or without this state, and on all other things or property held or to be acquired for the construction, operation, or repair of the railroad or for the repair or replacement of any other equipment or appurtenances as a part and parcel of the railroad and as constituting with the railroad one (1) property and a continuous railroad line in order to secure the payment of the bonds or other evidences of debt. Included in the property subject to the mortgages or deeds of trust shall be the franchise of acting as and being a corporation and all other franchises, rights, and privileges granted by this act or in any way appertaining to the corporations as aforesaid.

Acts 1881, No. 43, § 4, p. 79; C. & M. Dig., § 8529; Pope's Dig., § 11105; A.S.A. 1947, § 73-416.
Ark. Code Ann. § 23-83-114 — AR Code / Title 23 / Chapter 83 / Section 23-83-114
Misstatement of age provision
Status: in_force

A group policy shall contain a provision specifying an equitable adjustment of premiums or of benefits, or of both, to be made in the event the age of a person insured has been misstated. The provision shall contain a clear statement of the method of adjustment to be used. Acts 1981, No. 898, § 14; A.S.A. 1947, § 66-3514.

A group policy shall contain a provision specifying an equitable adjustment of premiums or of benefits, or of both, to be made in the event the age of a person insured has been misstated. The provision shall contain a clear statement of the method of adjustment to be used.

Acts 1981, No. 898, § 14; A.S.A. 1947, § 66-3514.
Ark. Code Ann. § 23-47-309 — AR Code / Title 23 / Chapter 47 / Subchapter 3 / Section 23-47-309
Effect on other laws
Status: in_force

This subchapter is supplemental to all laws pertaining to the deposit of funds in banks. Acts 1997, No. 89, § 1.

This subchapter is supplemental to all laws pertaining to the deposit of funds in banks.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-61-115 — AR Code / Title 23 / Chapter 61 / Subchapter 1 / Section 23-61-115
Policyholder's Bill of Rights
Status: in_force

(a) The principles expressed in subsection (b) of this section shall serve as standards to be followed by the Insurance Commissioner in: (1) Exercising the commissioner's powers and duties; (2) Exercising administrative discretion; (3) Dispensing administrative interpretations of the law; and (4) Adopting rules. (b) Policyholders have the right to: (1) Competitive pricing practices and marketing methods that enable them to determine the best value among comparable policies; (2) Insurance advertising and other selling approaches that provide accurate and balanced information on the benefits and limitations of a policy; (3) An insurer that is financially stable; (4) Be serviced by a competent, honest insurance producer; (5) A readable policy; (6) An insurer that provides an economic delivery of coverage and that tries to prevent losses; (7) Balanced and positive regulation by the State Insurance Department; and (8) A reasonable expectation that the policyholder's nonpublic personal information is securely maintained. (c) This section shall not be construed as creating, extinguishing, repealing, or limiting any civil cause of action. Amended by Act 2019, No. 315,§ 2613, eff. 7/24/2019. Amended by Act 2017, No. 283,§ 5, eff. 8/1/2017. Acts 2005, No. 1697, § 2.

(a) The principles expressed in subsection (b) of this section shall serve as standards to be followed by the Insurance Commissioner in: (1) Exercising the commissioner's powers and duties; (2) Exercising administrative discretion; (3) Dispensing administrative interpretations of the law; and (4) Adopting rules.

(1) Exercising the commissioner's powers and duties;

(2) Exercising administrative discretion;

(3) Dispensing administrative interpretations of the law; and

(4) Adopting rules.

(b) Policyholders have the right to: (1) Competitive pricing practices and marketing methods that enable them to determine the best value among comparable policies; (2) Insurance advertising and other selling approaches that provide accurate and balanced information on the benefits and limitations of a policy; (3) An insurer that is financially stable; (4) Be serviced by a competent, honest insurance producer; (5) A readable policy; (6) An insurer that provides an economic delivery of coverage and that tries to prevent losses; (7) Balanced and positive regulation by the State Insurance Department; and (8) A reasonable expectation that the policyholder's nonpublic personal information is securely maintained.

(1) Competitive pricing practices and marketing methods that enable them to determine the best value among comparable policies;

(2) Insurance advertising and other selling approaches that provide accurate and balanced information on the benefits and limitations of a policy;

(3) An insurer that is financially stable;

(4) Be serviced by a competent, honest insurance producer;

(5) A readable policy;

(6) An insurer that provides an economic delivery of coverage and that tries to prevent losses;

(7) Balanced and positive regulation by the State Insurance Department; and

(8) A reasonable expectation that the policyholder's nonpublic personal information is securely maintained.

(c) This section shall not be construed as creating, extinguishing, repealing, or limiting any civil cause of action.

Amended by Act 2019, No. 315,§ 2613, eff. 7/24/2019.

Amended by Act 2017, No. 283,§ 5, eff. 8/1/2017.

Acts 2005, No. 1697, § 2.
Ark. Code Ann. § 23-112-611 — AR Code / Title 23 / Chapter 112 / Subchapter 6 / Section 23-112-611
Records to be maintained
Status: in_force

(a) Every person required to have a license shall maintain, for three (3) years from the date of purchase, records of each vehicle transaction to which the person was a party. (b) Dealers shall maintain copies of all documents executed in conjunction with any transaction, which may include bills of sale, titles, odometer statements, invoices, affidavits of alteration, and reassignments, and shall be open to inspection to any Department of Arkansas State Police officer or designated employee of the department acting in an official capacity during reasonable business hours. Acts 1993, No. 490, § 10; 1995, No. 357, § 4; 2011, No. 201, § 2.

(a) Every person required to have a license shall maintain, for three (3) years from the date of purchase, records of each vehicle transaction to which the person was a party.

(b) Dealers shall maintain copies of all documents executed in conjunction with any transaction, which may include bills of sale, titles, odometer statements, invoices, affidavits of alteration, and reassignments, and shall be open to inspection to any Department of Arkansas State Police officer or designated employee of the department acting in an official capacity during reasonable business hours.

Acts 1993, No. 490, § 10; 1995, No. 357, § 4; 2011, No. 201, § 2.
Ark. Code Ann. § 23-85-130 — AR Code / Title 23 / Chapter 85 / Section 23-85-130
Conforming to statute
Status: in_force

(a) No policy provision which is not subject to this section and §§ 23-85-101 - 23-85-129 and 23-85-131 shall make a policy, or any portion thereof, less favorable in any respect to the insured or the beneficiary than the provisions thereof which are subject to this section and §§ 23-85-101 - 23-85-129 and 23-85-131 . (b) (1) A policy delivered or issued for delivery to any person in this state in violation of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 shall be held valid but shall be construed as provided in this section and §§ 23-85-101 - 23-85-129 and 23-85-131 . (2) When any provision in a policy subject to this section and §§ 23-85-101 - 23-85-129 and 23-85-131 is in conflict with any provision of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 , the rights, duties, and obligations of the insurer, the insured, and the beneficiary shall be governed by the provisions of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 . Acts 1959, No. 148, § 416; A.S.A. 1947, § 66-3631.

(a) No policy provision which is not subject to this section and §§ 23-85-101 - 23-85-129 and 23-85-131 shall make a policy, or any portion thereof, less favorable in any respect to the insured or the beneficiary than the provisions thereof which are subject to this section and §§ 23-85-101 - 23-85-129 and 23-85-131 .

(b) (1) A policy delivered or issued for delivery to any person in this state in violation of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 shall be held valid but shall be construed as provided in this section and §§ 23-85-101 - 23-85-129 and 23-85-131 . (2) When any provision in a policy subject to this section and §§ 23-85-101 - 23-85-129 and 23-85-131 is in conflict with any provision of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 , the rights, duties, and obligations of the insurer, the insured, and the beneficiary shall be governed by the provisions of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 .

(1) A policy delivered or issued for delivery to any person in this state in violation of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 shall be held valid but shall be construed as provided in this section and §§ 23-85-101 - 23-85-129 and 23-85-131 .

(2) When any provision in a policy subject to this section and §§ 23-85-101 - 23-85-129 and 23-85-131 is in conflict with any provision of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 , the rights, duties, and obligations of the insurer, the insured, and the beneficiary shall be governed by the provisions of this section and §§ 23-85-101 - 23-85-129 and 23-85-131 .

Acts 1959, No. 148, § 416; A.S.A. 1947, § 66-3631.
Ark. Code Ann. § 23-61-301 — AR Code / Title 23 / Chapter 61 / Subchapter 3 / Section 23-61-301
Examination, investigation, or hearing - Witnesses and evidence
Status: in_force

(a) With respect to the subject of any examination, investigation, or hearing being conducted by the Insurance Commissioner, the commissioner may subpoena witnesses and administer oaths or affirmations and examine any individual under oath and may require and compel the production of records, books, papers, contracts, and other documents. (b) (1) Witness fees and mileage shall not be allowed as to any licensee of the commissioner. (2) Witness fees and mileage of persons or entities not licensees of the commissioner, if claimed, shall be allowed the same as for testimony in a circuit court. Provided, however, that such a claim must be made at the time, date, and place of the hearing to which the person or entity has been summoned, and the amount thereof shall be processed in the same manner as are State Insurance Department employees' requests for expense reimbursement from the State of Arkansas. (3) Witness fees, mileage, and the actual expense necessarily incurred in securing attendance of witnesses and their testimony shall be itemized and shall be paid by the person being examined or investigated if, in the proceedings in which the witness is called, the person is found to have been in violation of the law, or paid by the person, if other than the commissioner, at whose request the hearing is held. (c) (1) Subpoenas of witnesses shall be served in the same manner as if issued by a circuit court and may be served by certified mail. (2) If any individual fails to obey a subpoena issued and served pursuant to this section with respect to any matter concerning which he or she may be lawfully interrogated, upon application of the commissioner, the circuit court of the county in which is pending the proceeding at which the individual was required to appear may issue an order requiring the individual to comply with the subpoena and to testify. (3) Any failure to obey the order of the court may be punished by the court as a contempt thereof. (d) If any officer, director, or manager of an insurer has refused, in connection with examination of the insurer by the commissioner, to be examined under oath concerning its affairs, then the commissioner is authorized to conduct and enforce by all appropriate and available means any examination under oath in any state or territory of the United States in which any officer, director, or manager may then presently be to the full extent permitted by the laws of the state or territory, this special authorization considered. (e) Any person willfully testifying falsely under oath in this state as to any matter material to any examination, investigation, or hearing shall, upon conviction, be guilty of perjury and punished accordingly. Acts 1959, No. 148, § 36; A.S.A. 1947, § 66-2121; Acts 1993, No. 901, § 48.

(a) With respect to the subject of any examination, investigation, or hearing being conducted by the Insurance Commissioner, the commissioner may subpoena witnesses and administer oaths or affirmations and examine any individual under oath and may require and compel the production of records, books, papers, contracts, and other documents.

(b) (1) Witness fees and mileage shall not be allowed as to any licensee of the commissioner. (2) Witness fees and mileage of persons or entities not licensees of the commissioner, if claimed, shall be allowed the same as for testimony in a circuit court. Provided, however, that such a claim must be made at the time, date, and place of the hearing to which the person or entity has been summoned, and the amount thereof shall be processed in the same manner as are State Insurance Department employees' requests for expense reimbursement from the State of Arkansas. (3) Witness fees, mileage, and the actual expense necessarily incurred in securing attendance of witnesses and their testimony shall be itemized and shall be paid by the person being examined or investigated if, in the proceedings in which the witness is called, the person is found to have been in violation of the law, or paid by the person, if other than the commissioner, at whose request the hearing is held.

(1) Witness fees and mileage shall not be allowed as to any licensee of the commissioner.

(2) Witness fees and mileage of persons or entities not licensees of the commissioner, if claimed, shall be allowed the same as for testimony in a circuit court. Provided, however, that such a claim must be made at the time, date, and place of the hearing to which the person or entity has been summoned, and the amount thereof shall be processed in the same manner as are State Insurance Department employees' requests for expense reimbursement from the State of Arkansas.

(3) Witness fees, mileage, and the actual expense necessarily incurred in securing attendance of witnesses and their testimony shall be itemized and shall be paid by the person being examined or investigated if, in the proceedings in which the witness is called, the person is found to have been in violation of the law, or paid by the person, if other than the commissioner, at whose request the hearing is held.

(c) (1) Subpoenas of witnesses shall be served in the same manner as if issued by a circuit court and may be served by certified mail. (2) If any individual fails to obey a subpoena issued and served pursuant to this section with respect to any matter concerning which he or she may be lawfully interrogated, upon application of the commissioner, the circuit court of the county in which is pending the proceeding at which the individual was required to appear may issue an order requiring the individual to comply with the subpoena and to testify. (3) Any failure to obey the order of the court may be punished by the court as a contempt thereof.

(1) Subpoenas of witnesses shall be served in the same manner as if issued by a circuit court and may be served by certified mail.

(2) If any individual fails to obey a subpoena issued and served pursuant to this section with respect to any matter concerning which he or she may be lawfully interrogated, upon application of the commissioner, the circuit court of the county in which is pending the proceeding at which the individual was required to appear may issue an order requiring the individual to comply with the subpoena and to testify.

(3) Any failure to obey the order of the court may be punished by the court as a contempt thereof.

(d) If any officer, director, or manager of an insurer has refused, in connection with examination of the insurer by the commissioner, to be examined under oath concerning its affairs, then the commissioner is authorized to conduct and enforce by all appropriate and available means any examination under oath in any state or territory of the United States in which any officer, director, or manager may then presently be to the full extent permitted by the laws of the state or territory, this special authorization considered.

(e) Any person willfully testifying falsely under oath in this state as to any matter material to any examination, investigation, or hearing shall, upon conviction, be guilty of perjury and punished accordingly.

Acts 1959, No. 148, § 36; A.S.A. 1947, § 66-2121; Acts 1993, No. 901, § 48.
Ark. Code Ann. § 23-92-208 — AR Code / Title 23 / Chapter 92 / Subchapter 2 / Section 23-92-208
Compensation
Status: in_force

The compensation for an administrator may be based on: (1) Premiums or charges collected; (2) The number of claims paid or processed; or (3) Some other fair and equitable basis provided by the contract. Acts 1985, No. 796, § 6; A.S.A. 1947, § 66-6008.

The compensation for an administrator may be based on:

(1) Premiums or charges collected;

(2) The number of claims paid or processed; or

(3) Some other fair and equitable basis provided by the contract.

Acts 1985, No. 796, § 6; A.S.A. 1947, § 66-6008.
Ark. Code Ann. § 23-81-113 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-113
Life insurance - Payment of claims provision
Status: in_force

(a) There shall be a provision that when a policy shall become a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer's option, surrender of the policy or proof of the interest of the claimant, or both surrender and proof. (b) If any insurer shall specify a particular period prior to the expiration of which settlement shall be made, the period shall not exceed two (2) months from the receipt of the proofs. Acts 1959, No. 148, § 321; A.S.A. 1947, § 66-3312.

(a) There shall be a provision that when a policy shall become a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer's option, surrender of the policy or proof of the interest of the claimant, or both surrender and proof.

(b) If any insurer shall specify a particular period prior to the expiration of which settlement shall be made, the period shall not exceed two (2) months from the receipt of the proofs.

Acts 1959, No. 148, § 321; A.S.A. 1947, § 66-3312.
Ark. Code Ann. § 23-81-309 — AR Code / Title 23 / Chapter 81 / Subchapter 3 / Section 23-81-309
Disclosure of limited death benefits
Status: in_force

Any contract which does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the commencement of any annuity payments shall include a statement in a prominent place in the contract that such benefits are not provided. Acts 1981, No. 492, § 1; A.S.A. 1947, § 66-3327.1.

Any contract which does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the commencement of any annuity payments shall include a statement in a prominent place in the contract that such benefits are not provided.

Acts 1981, No. 492, § 1; A.S.A. 1947, § 66-3327.1.
Ark. Code Ann. § 23-67-205 — AR Code / Title 23 / Chapter 67 / Subchapter 2 / Section 23-67-205
Penalties
Status: in_force

(a) Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this chapter, he or she shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by § 23-67-221 [repealed]. (b) If, after a hearing, the commissioner determines that the person has violated a provision of this chapter, the commissioner shall issue a written order which, in his or her discretion, may do one (1) or more of the following: (1) Revoke the certificate of authority of the insurer or the license of the advisory organization; (2) Suspend the certificate of authority of the insurer or the license of the advisory organization; or (3) Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or a penalty of not more than ten thousand dollars ($10,000) for each violation if the commissioner has found willful violations. Acts 1987, No. 959, § 18.

(a) Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this chapter, he or she shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by § 23-67-221 [repealed].

(b) If, after a hearing, the commissioner determines that the person has violated a provision of this chapter, the commissioner shall issue a written order which, in his or her discretion, may do one (1) or more of the following: (1) Revoke the certificate of authority of the insurer or the license of the advisory organization; (2) Suspend the certificate of authority of the insurer or the license of the advisory organization; or (3) Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or a penalty of not more than ten thousand dollars ($10,000) for each violation if the commissioner has found willful violations.

(1) Revoke the certificate of authority of the insurer or the license of the advisory organization;

(2) Suspend the certificate of authority of the insurer or the license of the advisory organization; or

(3) Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or a penalty of not more than ten thousand dollars ($10,000) for each violation if the commissioner has found willful violations.

Acts 1987, No. 959, § 18.
Ark. Code Ann. § 23-110-202 — AR Code / Title 23 / Chapter 110 / Subchapter 2 / Section 23-110-202
Officers
Status: in_force

(a) The Governor shall from time to time select from the membership of the Arkansas Racing Commission a chair and a vice chair. (b) (1) The Secretary of the Department of Finance and Administration shall be ex officio director of the commission unless the Governor shall designate another person from the Revenue Division of the Department of Finance and Administration to serve in that capacity, but the Director of the Arkansas Racing Commission shall not be a member of the commission nor shall he or she have a vote on matters coming before it. (2) The Director of the Arkansas Racing Commission shall be the commission's executive officer and shall administer the provisions of this chapter and the rules and orders established under this chapter. (3) By resolution duly adopted, the commission may delegate to the Director of the Arkansas Racing Commission any of the powers or duties vested in or imposed upon the commission by this chapter, and the delegated powers and duties may be exercised by the Director of the Arkansas Racing Commission in the name of the commission. (4) The Director of the Arkansas Racing Commission shall be custodian of all property held in the name of the commission and shall be the ex officio disbursing agent of all funds available for its use. (5) The Director of the Arkansas Racing Commission shall furnish bond to the state, with a corporate surety thereon, in the penal sum of twenty-five thousand dollars ($25,000), conditioned that he or she will faithfully perform his or her duties of office and properly account for all funds received and disbursed by him or her as Director of the Arkansas Racing Commission. (6) Within such limitations as may be provided by appropriations therefor, the Director of the Arkansas Racing Commission may employ such assistants and other personnel as are, in his or her opinion, necessary to properly administer the provisions of this chapter. Amended by Act 2019, No. 315,§ 2814, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 3514, eff. 7/1/2019. Acts 1957, No. 46, §§ 5, 6; A.S.A. 1947, §§ 84-2731, 84-2732.

(a) The Governor shall from time to time select from the membership of the Arkansas Racing Commission a chair and a vice chair.

(b) (1) The Secretary of the Department of Finance and Administration shall be ex officio director of the commission unless the Governor shall designate another person from the Revenue Division of the Department of Finance and Administration to serve in that capacity, but the Director of the Arkansas Racing Commission shall not be a member of the commission nor shall he or she have a vote on matters coming before it. (2) The Director of the Arkansas Racing Commission shall be the commission's executive officer and shall administer the provisions of this chapter and the rules and orders established under this chapter. (3) By resolution duly adopted, the commission may delegate to the Director of the Arkansas Racing Commission any of the powers or duties vested in or imposed upon the commission by this chapter, and the delegated powers and duties may be exercised by the Director of the Arkansas Racing Commission in the name of the commission. (4) The Director of the Arkansas Racing Commission shall be custodian of all property held in the name of the commission and shall be the ex officio disbursing agent of all funds available for its use. (5) The Director of the Arkansas Racing Commission shall furnish bond to the state, with a corporate surety thereon, in the penal sum of twenty-five thousand dollars ($25,000), conditioned that he or she will faithfully perform his or her duties of office and properly account for all funds received and disbursed by him or her as Director of the Arkansas Racing Commission. (6) Within such limitations as may be provided by appropriations therefor, the Director of the Arkansas Racing Commission may employ such assistants and other personnel as are, in his or her opinion, necessary to properly administer the provisions of this chapter.

(1) The Secretary of the Department of Finance and Administration shall be ex officio director of the commission unless the Governor shall designate another person from the Revenue Division of the Department of Finance and Administration to serve in that capacity, but the Director of the Arkansas Racing Commission shall not be a member of the commission nor shall he or she have a vote on matters coming before it.

(2) The Director of the Arkansas Racing Commission shall be the commission's executive officer and shall administer the provisions of this chapter and the rules and orders established under this chapter.

(3) By resolution duly adopted, the commission may delegate to the Director of the Arkansas Racing Commission any of the powers or duties vested in or imposed upon the commission by this chapter, and the delegated powers and duties may be exercised by the Director of the Arkansas Racing Commission in the name of the commission.

(4) The Director of the Arkansas Racing Commission shall be custodian of all property held in the name of the commission and shall be the ex officio disbursing agent of all funds available for its use.

(5) The Director of the Arkansas Racing Commission shall furnish bond to the state, with a corporate surety thereon, in the penal sum of twenty-five thousand dollars ($25,000), conditioned that he or she will faithfully perform his or her duties of office and properly account for all funds received and disbursed by him or her as Director of the Arkansas Racing Commission.

(6) Within such limitations as may be provided by appropriations therefor, the Director of the Arkansas Racing Commission may employ such assistants and other personnel as are, in his or her opinion, necessary to properly administer the provisions of this chapter.

Amended by Act 2019, No. 315,§ 2814, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 3514, eff. 7/1/2019.

Acts 1957, No. 46, §§ 5, 6; A.S.A. 1947, §§ 84-2731, 84-2732.
Ark. Code Ann. § 23-67-301 — AR Code / Title 23 / Chapter 67 / Subchapter 3 / Section 23-67-301
Title
Status: in_force

This subchapter shall be known and cited as the "Arkansas Workers' Compensation Insurance Plan". Acts 1991, No. 561, § 1.

This subchapter shall be known and cited as the "Arkansas Workers' Compensation Insurance Plan".

Acts 1991, No. 561, § 1.
Ark. Code Ann. § 23-15-216 — AR Code / Title 23 / Chapter 15 / Subchapter 2 / Section 23-15-216
Disposition of funds
Status: in_force

On receipt of the fees, charges, and penalties provided for in this subchapter, the secretary of the Arkansas Public Service Commission shall pay the fees, charges, and penalties into the State Treasury. The amounts received by the Treasurer of State shall be credited by him or her as special revenues and designated as the "Public Service Commission Utility Safety Fund", which will be a separate fund account established by the Treasurer of State. Acts 1971, No. 285, § 8; 1975, No. 877, § 2; A.S.A. 1947, § 73-1915.

On receipt of the fees, charges, and penalties provided for in this subchapter, the secretary of the Arkansas Public Service Commission shall pay the fees, charges, and penalties into the State Treasury. The amounts received by the Treasurer of State shall be credited by him or her as special revenues and designated as the "Public Service Commission Utility Safety Fund", which will be a separate fund account established by the Treasurer of State.

Acts 1971, No. 285, § 8; 1975, No. 877, § 2; A.S.A. 1947, § 73-1915.
Ark. Code Ann. § 23-114-406 — AR Code / Title 23 / Chapter 114 / Subchapter 4 / Section 23-114-406
Gift certificates
Status: in_force

(a) Nothing in this chapter prohibits a licensed authorized organization from selling or redeeming a gift certificate that entitles the bearer of the certificate to participate in a raffle or play a game of bingo conducted by the licensed authorized organization. (b) A licensed authorized organization that sells or redeems a gift certificate shall keep adequate records relating to the gift certificate. Acts 2007, No. 388, § 1.

(a) Nothing in this chapter prohibits a licensed authorized organization from selling or redeeming a gift certificate that entitles the bearer of the certificate to participate in a raffle or play a game of bingo conducted by the licensed authorized organization.

(b) A licensed authorized organization that sells or redeems a gift certificate shall keep adequate records relating to the gift certificate.

Acts 2007, No. 388, § 1.
Ark. Code Ann. § 23-36-113 — AR Code / Title 23 / Chapter 36 / Section 23-36-113
Reserves
Status: in_force

(a) All industrial loan institutions shall establish, as a reserve against the choses in action, investment certificates, contracts, or agreements, described in § 23-36-108 , not less than fifteen percent (15%) of the amount of the indebtedness thus created. (b) (1) Not less than twenty percent (20%) of this reserve shall be in cash in the actual possession of the industrial loan institution or on demand deposit in approved state or national banks located in Arkansas and insured by the Federal Deposit Insurance Corporation. (2) The remaining portion of the reserve shall be invested in Treasury bills or certificates of deposit of not more than six (6) months' maturity, in repurchase agreements, in bankers' acceptances, or in federal funds. (c) However, choses in action, investment certificates, contracts, or agreements issued under § 23-36-108 and held by the industrial loan institution as security for its own loans cannot be considered as an indebtedness for which a reserve must be maintained under this section. (d) An industrial loan institution shall be given credit against the reserve requirements created as authorized by this chapter for any reserve funds held as required by the laws or regulations of the federal government. Acts 1941, No. 111, § 13; 1981, No. 580, § 1; A.S.A. 1947, § 67-1013.

(a) All industrial loan institutions shall establish, as a reserve against the choses in action, investment certificates, contracts, or agreements, described in § 23-36-108 , not less than fifteen percent (15%) of the amount of the indebtedness thus created.

(b) (1) Not less than twenty percent (20%) of this reserve shall be in cash in the actual possession of the industrial loan institution or on demand deposit in approved state or national banks located in Arkansas and insured by the Federal Deposit Insurance Corporation. (2) The remaining portion of the reserve shall be invested in Treasury bills or certificates of deposit of not more than six (6) months' maturity, in repurchase agreements, in bankers' acceptances, or in federal funds.

(1) Not less than twenty percent (20%) of this reserve shall be in cash in the actual possession of the industrial loan institution or on demand deposit in approved state or national banks located in Arkansas and insured by the Federal Deposit Insurance Corporation.

(2) The remaining portion of the reserve shall be invested in Treasury bills or certificates of deposit of not more than six (6) months' maturity, in repurchase agreements, in bankers' acceptances, or in federal funds.

(c) However, choses in action, investment certificates, contracts, or agreements issued under § 23-36-108 and held by the industrial loan institution as security for its own loans cannot be considered as an indebtedness for which a reserve must be maintained under this section.

(d) An industrial loan institution shall be given credit against the reserve requirements created as authorized by this chapter for any reserve funds held as required by the laws or regulations of the federal government.

Acts 1941, No. 111, § 13; 1981, No. 580, § 1; A.S.A. 1947, § 67-1013.
Ark. Code Ann. § 23-63-1610 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1610
Investments
Status: in_force

(a) (1) Except as provided in § 23-63-1614 , an association captive insurance company, a producer reinsurance captive insurance company, a sponsored captive insurance company, and an industrial insured group shall comply with the investment requirements contained in the Arkansas Insurance Code. (2) The Insurance Commissioner may approve the use of alternative reliable methods of valuation and rating. (b) (1) A pure captive insurance company or industrial insured captive insurance company is not subject to any restrictions on allowable investments contained in the Arkansas Insurance Code. (2) The commissioner may prohibit or limit an investment that threatens the solvency or liquidity of the company. (c) (1) Only a pure captive insurance company may make loans to its parent company or affiliates, with the prior written approval of the commissioner and evidenced by a note in a form approved by the commissioner. (2) Loans of minimum capital and surplus funds required by § 23-63-1604(a) and § 23-63-1605(a) are prohibited. (d) Notwithstanding the provisions of § 23-63-1620 , the assets of two (2) or more protected cells may be combined for purposes of investment, and the combination does not defeat the segregation of such assets for accounting or other purposes. (e) (1) Sponsored captive insurance companies shall comply with the investment requirements contained in § 23-63-801 et seq., as applicable. (2) However, compliance with the investment requirements shall be waived for sponsored captive insurance companies to the extent that credit for reinsurance ceded to reinsurers is allowed under § 23-63-1611 or to the extent otherwise deemed reasonable and appropriate by the commissioner. (f) Unless the commissioner requires or finds another method of valuation that is not inconsistent with the valuation method promulgated by the National Association of Insurance Commissioners and is reasonable under the circumstances, the valuation procedures established by the National Association of Insurance Commissioners shall apply to sponsored captive insurance companies except to the extent the valuation procedures are inconsistent with approved accounting standards in use by the company. (g) Notwithstanding any other provision of this subchapter, the commissioner may approve the use of alternative reliable methods of valuation and rating. Amended by Act 2019, No. 521,§ 10, eff. 7/24/2019. Acts 2001, No. 1391, § 10.

(a) (1) Except as provided in § 23-63-1614 , an association captive insurance company, a producer reinsurance captive insurance company, a sponsored captive insurance company, and an industrial insured group shall comply with the investment requirements contained in the Arkansas Insurance Code. (2) The Insurance Commissioner may approve the use of alternative reliable methods of valuation and rating.

(1) Except as provided in § 23-63-1614 , an association captive insurance company, a producer reinsurance captive insurance company, a sponsored captive insurance company, and an industrial insured group shall comply with the investment requirements contained in the Arkansas Insurance Code.

(2) The Insurance Commissioner may approve the use of alternative reliable methods of valuation and rating.

(b) (1) A pure captive insurance company or industrial insured captive insurance company is not subject to any restrictions on allowable investments contained in the Arkansas Insurance Code. (2) The commissioner may prohibit or limit an investment that threatens the solvency or liquidity of the company.

(1) A pure captive insurance company or industrial insured captive insurance company is not subject to any restrictions on allowable investments contained in the Arkansas Insurance Code.

(2) The commissioner may prohibit or limit an investment that threatens the solvency or liquidity of the company.

(c) (1) Only a pure captive insurance company may make loans to its parent company or affiliates, with the prior written approval of the commissioner and evidenced by a note in a form approved by the commissioner. (2) Loans of minimum capital and surplus funds required by § 23-63-1604(a) and § 23-63-1605(a) are prohibited.

(1) Only a pure captive insurance company may make loans to its parent company or affiliates, with the prior written approval of the commissioner and evidenced by a note in a form approved by the commissioner.

(2) Loans of minimum capital and surplus funds required by § 23-63-1604(a) and § 23-63-1605(a) are prohibited.

(d) Notwithstanding the provisions of § 23-63-1620 , the assets of two (2) or more protected cells may be combined for purposes of investment, and the combination does not defeat the segregation of such assets for accounting or other purposes.

(e) (1) Sponsored captive insurance companies shall comply with the investment requirements contained in § 23-63-801 et seq., as applicable. (2) However, compliance with the investment requirements shall be waived for sponsored captive insurance companies to the extent that credit for reinsurance ceded to reinsurers is allowed under § 23-63-1611 or to the extent otherwise deemed reasonable and appropriate by the commissioner.

(1) Sponsored captive insurance companies shall comply with the investment requirements contained in § 23-63-801 et seq., as applicable.

(2) However, compliance with the investment requirements shall be waived for sponsored captive insurance companies to the extent that credit for reinsurance ceded to reinsurers is allowed under § 23-63-1611 or to the extent otherwise deemed reasonable and appropriate by the commissioner.

(f) Unless the commissioner requires or finds another method of valuation that is not inconsistent with the valuation method promulgated by the National Association of Insurance Commissioners and is reasonable under the circumstances, the valuation procedures established by the National Association of Insurance Commissioners shall apply to sponsored captive insurance companies except to the extent the valuation procedures are inconsistent with approved accounting standards in use by the company.

(g) Notwithstanding any other provision of this subchapter, the commissioner may approve the use of alternative reliable methods of valuation and rating.

Amended by Act 2019, No. 521,§ 10, eff. 7/24/2019.

Acts 2001, No. 1391, § 10.
Ark. Code Ann. § 23-63-816 — AR Code / Title 23 / Chapter 63 / Subchapter 8 / Section 23-63-816
Common stocks
Status: in_force

An insurer may invest in nonassessable, except for taxes and wages, common stocks other than insurance stocks of solvent United States or Canadian corporations that qualify as a sound investment. Acts 1959, No. 148, § 112; A.S.A. 1947, § 66-2616.

An insurer may invest in nonassessable, except for taxes and wages, common stocks other than insurance stocks of solvent United States or Canadian corporations that qualify as a sound investment.

Acts 1959, No. 148, § 112; A.S.A. 1947, § 66-2616.
Ark. Code Ann. § 23-112-204 — AR Code / Title 23 / Chapter 112 / Subchapter 2 / Section 23-112-204
Rules
Status: in_force

The Arkansas Motor Vehicle Commission shall have power to prescribe, issue, amend, and rescind, pursuant to the Arkansas Administrative Procedure Act, § 25-15-201 et seq., such reasonable rules as may be reasonably necessary or appropriate to carry out the provisions of this chapter. Amended by Act 2019, No. 315,§ 2829, eff. 7/24/2019. Acts 1975, No. 388, § 4; 1985, No. 1032, § 2; 1985, No. 1058, § 2; A.S.A. 1947, § 75-2304.

The Arkansas Motor Vehicle Commission shall have power to prescribe, issue, amend, and rescind, pursuant to the Arkansas Administrative Procedure Act, § 25-15-201 et seq., such reasonable rules as may be reasonably necessary or appropriate to carry out the provisions of this chapter.

Amended by Act 2019, No. 315,§ 2829, eff. 7/24/2019.

Acts 1975, No. 388, § 4; 1985, No. 1032, § 2; 1985, No. 1058, § 2; A.S.A. 1947, § 75-2304.
Ark. Code Ann. § 23-49-117 — AR Code / Title 23 / Chapter 49 / Section 23-49-117
Contents of articles of dissolution
Status: in_force

When the proceedings described in this chapter have been completed, the receiver shall execute and file, in the manner provided in this section, articles of dissolution, setting forth the following information: (1) The name of the institution; (2) The place where its main office was located; (3) The names and addresses of the directors and officers of the institution at the time the liquidation proceedings were begun; (4) A brief summary of the aggregate amount of general claims finally allowed against the institution, the order in which the claims were paid, and the aggregate amount of all other claims against the institution. A statement of the aggregate payments made on each of the groups of claims must be provided, referencing the orders of the receiver or the circuit court authorizing those payments and the current reports documenting such payments; and (5) A brief summary of the aggregate amount of payments made to the shareholders of the institution, whether of money or other property, and a reference to the orders of the receiver or the circuit court authorizing the payments and to the current reports wherein documentation of the payments is made. Acts 1997, No. 89, § 1.

When the proceedings described in this chapter have been completed, the receiver shall execute and file, in the manner provided in this section, articles of dissolution, setting forth the following information:

(1) The name of the institution;

(2) The place where its main office was located;

(3) The names and addresses of the directors and officers of the institution at the time the liquidation proceedings were begun;

(4) A brief summary of the aggregate amount of general claims finally allowed against the institution, the order in which the claims were paid, and the aggregate amount of all other claims against the institution. A statement of the aggregate payments made on each of the groups of claims must be provided, referencing the orders of the receiver or the circuit court authorizing those payments and the current reports documenting such payments; and

(5) A brief summary of the aggregate amount of payments made to the shareholders of the institution, whether of money or other property, and a reference to the orders of the receiver or the circuit court authorizing the payments and to the current reports wherein documentation of the payments is made.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-91-216 — AR Code / Title 23 / Chapter 91 / Subchapter 2 / Section 23-91-216
[Repealed]
Status: repealed

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023. Acts 1977, No. 368, § 9; A.S.A. 1947, § 66-5409; Acts 2001, No. 1566, § 20.

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

Acts 1977, No. 368, § 9; A.S.A. 1947, § 66-5409; Acts 2001, No. 1566, § 20.
Ark. Code Ann. § 23-79-207 — AR Code / Title 23 / Chapter 79 / Subchapter 2 / Section 23-79-207
Substantial compliance - Fire insurance upon personal property
Status: in_force

In all actions against any insurer for any claim accruing, arising upon, or growing out of any fire insurance policy upon personal property issued by the insurer, proof of a substantial compliance with the terms, conditions, and warranties of the policy upon the part of the insured or his or her assigns shall be deemed sufficient and entitle the plaintiff to recover in the action. Acts 1959, No. 148, § 304; A.S.A. 1947, § 66-3237.

In all actions against any insurer for any claim accruing, arising upon, or growing out of any fire insurance policy upon personal property issued by the insurer, proof of a substantial compliance with the terms, conditions, and warranties of the policy upon the part of the insured or his or her assigns shall be deemed sufficient and entitle the plaintiff to recover in the action.

Acts 1959, No. 148, § 304; A.S.A. 1947, § 66-3237.
Ark. Code Ann. § 23-112-314 — AR Code / Title 23 / Chapter 112 / Subchapter 3 / Section 23-112-314
Civil penalty - Definition
Status: in_force

(a) If after request for alternative proceedings or notice and hearing the Arkansas Motor Vehicle Commission finds that any person not holding a license under this chapter is guilty of any violation of this chapter or rules promulgated thereunder, the commission shall have the power and authority to impose a monetary penalty upon the person not to exceed one thousand dollars ($1,000) per violation. (b) Each day of violation of this chapter or of a rule shall constitute a separate violation subjecting the person to a separate civil penalty. (c) Unless the penalty assessed under this section is paid within fifteen (15) days following the date for an appeal from the order, the commission shall have the power to file suit in Pulaski County Circuit Court to obtain a judgment for the amount of the penalty not paid. (d) (1) Repeated violations by any person not holding a license under this chapter shall result in an increase in the penalty assessed by the commission. (2) The terms "second" and "subsequent" violation as used in this section mean a violation of the same nature as a previously remedied violation that occurs within five (5) years of the remedied violation by any person not holding a license under this chapter. (3) The commission shall have the power and authority to impose a penalty not to exceed two thousand five hundred dollars ($2,500) for a second violation, with the penalty increasing in increments of two thousand five hundred dollars ($2,500) for each subsequent violation. Amended by Act 2019, No. 315,§ 2833, eff. 7/24/2019. Acts 1999, No. 1042, § 8; 2001, No. 1053, § 13.

(a) If after request for alternative proceedings or notice and hearing the Arkansas Motor Vehicle Commission finds that any person not holding a license under this chapter is guilty of any violation of this chapter or rules promulgated thereunder, the commission shall have the power and authority to impose a monetary penalty upon the person not to exceed one thousand dollars ($1,000) per violation.

(b) Each day of violation of this chapter or of a rule shall constitute a separate violation subjecting the person to a separate civil penalty.

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

(d) (1) Repeated violations by any person not holding a license under this chapter shall result in an increase in the penalty assessed by the commission. (2) The terms "second" and "subsequent" violation as used in this section mean a violation of the same nature as a previously remedied violation that occurs within five (5) years of the remedied violation by any person not holding a license under this chapter. (3) The commission shall have the power and authority to impose a penalty not to exceed two thousand five hundred dollars ($2,500) for a second violation, with the penalty increasing in increments of two thousand five hundred dollars ($2,500) for each subsequent violation.

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

(2) The terms "second" and "subsequent" violation as used in this section mean a violation of the same nature as a previously remedied violation that occurs within five (5) years of the remedied violation by any person not holding a license under this chapter.

(3) The commission shall have the power and authority to impose a penalty not to exceed two thousand five hundred dollars ($2,500) for a second violation, with the penalty increasing in increments of two thousand five hundred dollars ($2,500) for each subsequent violation.

Amended by Act 2019, No. 315,§ 2833, eff. 7/24/2019.

Acts 1999, No. 1042, § 8; 2001, No. 1053, § 13.
Ark. Code Ann. § 23-112-307 — AR Code / Title 23 / Chapter 112 / Subchapter 3 / Section 23-112-307
Expiration of license
Status: in_force

Unless the Arkansas Motor Vehicle Commission by rule provides to the contrary, all licenses issued to: (1) Manufacturers, distributors, factory or distributor branches, importers, second-stage manufacturers, converters, and their representatives expire June 30 following the date of issue; and (2) Motor vehicle dealers and motor vehicle lessors expire December 31 following the date of issue. Amended by Act 2021, No. 504,§ 9, eff. 7/28/2021. Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947, § 75-2305; Acts 1987, No. 620, § 2; 1995, No. 568, § 10; 2001, No. 1053, § 8; 2009, No. 756, § 8.

Unless the Arkansas Motor Vehicle Commission by rule provides to the contrary, all licenses issued to:

(1) Manufacturers, distributors, factory or distributor branches, importers, second-stage manufacturers, converters, and their representatives expire June 30 following the date of issue; and

(2) Motor vehicle dealers and motor vehicle lessors expire December 31 following the date of issue.

Amended by Act 2021, No. 504,§ 9, eff. 7/28/2021.

Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947, § 75-2305; Acts 1987, No. 620, § 2; 1995, No. 568, § 10; 2001, No. 1053, § 8; 2009, No. 756, § 8.
Ark. Code Ann. § 23-112-1013 — AR Code / Title 23 / Chapter 112 / Subchapter 10 / Section 23-112-1013
Repurchase of inventory
Status: in_force

If the dealer agreement is terminated, canceled, or not renewed by the manufacturer or distributor without good cause under § 23-112-1011 or by the dealer for good cause as defined in § 23-112-1011 and the manufacturer fails to cure the claimed deficiencies under § 23-112-1011 , the manufacturer, at the election of the dealer and within forty-five (45) days after termination, cancellation, or nonrenewal, shall repurchase: (1) (A) All new, untitled recreational vehicles that were acquired from the manufacturer or distributor within twelve (12) months before the effective date of the notice of termination, cancellation, or nonrenewal that have not been used, except for demonstration purposes, and that have not been altered or damaged, at one hundred percent (100%) of the net invoice cost, including transportation, less applicable rebates and discounts to the dealer. (B) If any of the vehicles repurchased under this subchapter are damaged but do not trigger a consumer disclosure requirement, the amount due the dealer shall be reduced by the cost to repair the vehicle. (C) Damage to a recreational vehicle before delivery to a dealer that is disclosed at the time of delivery shall not disqualify its repurchase under this subdivision (1); (2) All undamaged accessories and proprietary parts sold to the dealer for resale within the twelve (12) months before termination, cancellation, or nonrenewal, if accompanied by the original invoice, at one hundred five percent (105%) of the original net price paid to the manufacturer or distributor to compensate the dealer for handling, packing, and shipping the parts; and (3) Any properly functioning diagnostic equipment, special tools, current signage, and other equipment and machinery at one hundred percent (100%) of the dealer's net cost plus freight, destination, delivery, and distribution charges and sales taxes, if any, if: (A) The diagnostic equipment, special tools, current signage, and other equipment and machinery were purchased by the dealer within five (5) years before termination, cancellation, or nonrenewal upon the manufacturer's or distributor's request; and (B) The dealer meets the burden of establishing that the diagnostic equipment, special tools, current signage, and other equipment and machinery can no longer be used in the normal course of the dealer's ongoing business. Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.

If the dealer agreement is terminated, canceled, or not renewed by the manufacturer or distributor without good cause under § 23-112-1011 or by the dealer for good cause as defined in § 23-112-1011 and the manufacturer fails to cure the claimed deficiencies under § 23-112-1011 , the manufacturer, at the election of the dealer and within forty-five (45) days after termination, cancellation, or nonrenewal, shall repurchase:

(1) (A) All new, untitled recreational vehicles that were acquired from the manufacturer or distributor within twelve (12) months before the effective date of the notice of termination, cancellation, or nonrenewal that have not been used, except for demonstration purposes, and that have not been altered or damaged, at one hundred percent (100%) of the net invoice cost, including transportation, less applicable rebates and discounts to the dealer. (B) If any of the vehicles repurchased under this subchapter are damaged but do not trigger a consumer disclosure requirement, the amount due the dealer shall be reduced by the cost to repair the vehicle. (C) Damage to a recreational vehicle before delivery to a dealer that is disclosed at the time of delivery shall not disqualify its repurchase under this subdivision (1);

(A) All new, untitled recreational vehicles that were acquired from the manufacturer or distributor within twelve (12) months before the effective date of the notice of termination, cancellation, or nonrenewal that have not been used, except for demonstration purposes, and that have not been altered or damaged, at one hundred percent (100%) of the net invoice cost, including transportation, less applicable rebates and discounts to the dealer.

(B) If any of the vehicles repurchased under this subchapter are damaged but do not trigger a consumer disclosure requirement, the amount due the dealer shall be reduced by the cost to repair the vehicle.

(C) Damage to a recreational vehicle before delivery to a dealer that is disclosed at the time of delivery shall not disqualify its repurchase under this subdivision (1);

(2) All undamaged accessories and proprietary parts sold to the dealer for resale within the twelve (12) months before termination, cancellation, or nonrenewal, if accompanied by the original invoice, at one hundred five percent (105%) of the original net price paid to the manufacturer or distributor to compensate the dealer for handling, packing, and shipping the parts; and

(3) Any properly functioning diagnostic equipment, special tools, current signage, and other equipment and machinery at one hundred percent (100%) of the dealer's net cost plus freight, destination, delivery, and distribution charges and sales taxes, if any, if: (A) The diagnostic equipment, special tools, current signage, and other equipment and machinery were purchased by the dealer within five (5) years before termination, cancellation, or nonrenewal upon the manufacturer's or distributor's request; and (B) The dealer meets the burden of establishing that the diagnostic equipment, special tools, current signage, and other equipment and machinery can no longer be used in the normal course of the dealer's ongoing business.

(A) The diagnostic equipment, special tools, current signage, and other equipment and machinery were purchased by the dealer within five (5) years before termination, cancellation, or nonrenewal upon the manufacturer's or distributor's request; and

(B) The dealer meets the burden of establishing that the diagnostic equipment, special tools, current signage, and other equipment and machinery can no longer be used in the normal course of the dealer's ongoing business.

Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.
Ark. Code Ann. § 23-48-701 — AR Code / Title 23 / Chapter 48 / Subchapter 7 / Section 23-48-701
Definitions
Status: in_force

As used in this subchapter: (1) (A) "Full service branch" means a banking facility separate from the main office of the bank at which all lawful banking activities may be conducted as fully as in the main office. (B) "Full service branch" includes a mobile facility that: (i) Conducts banking business within the same county as the main office or another full service branch of the bank; (ii) Does not have a single, permanent site; (iii) Does not remain within five (5) miles of any banking location for more than two (2) business days; (iv) Travels to various locations within the county to enable customers to conduct banking business; and (v) Maintains a log of operations indicating the date and specific location of each stop; (2) "Healthy bank" means a state bank whose financial condition satisfies the criteria established by State Bank Department rule; and (3) "Supervisory banking authority" means the Bank Commissioner for state banks and the United States Comptroller of the Currency for national banks. Amended by Act 2019, No. 315,§ 2549, eff. 7/24/2019. Acts 1997, No. 89, § 1; 2005, No. 1816, § 1; 2007, No. 42, § 1.

As used in this subchapter:

(1) (A) "Full service branch" means a banking facility separate from the main office of the bank at which all lawful banking activities may be conducted as fully as in the main office. (B) "Full service branch" includes a mobile facility that: (i) Conducts banking business within the same county as the main office or another full service branch of the bank; (ii) Does not have a single, permanent site; (iii) Does not remain within five (5) miles of any banking location for more than two (2) business days; (iv) Travels to various locations within the county to enable customers to conduct banking business; and (v) Maintains a log of operations indicating the date and specific location of each stop;

(A) "Full service branch" means a banking facility separate from the main office of the bank at which all lawful banking activities may be conducted as fully as in the main office.

(B) "Full service branch" includes a mobile facility that: (i) Conducts banking business within the same county as the main office or another full service branch of the bank; (ii) Does not have a single, permanent site; (iii) Does not remain within five (5) miles of any banking location for more than two (2) business days; (iv) Travels to various locations within the county to enable customers to conduct banking business; and (v) Maintains a log of operations indicating the date and specific location of each stop;

(i) Conducts banking business within the same county as the main office or another full service branch of the bank;

(ii) Does not have a single, permanent site;

(iii) Does not remain within five (5) miles of any banking location for more than two (2) business days;

(iv) Travels to various locations within the county to enable customers to conduct banking business; and

(v) Maintains a log of operations indicating the date and specific location of each stop;

(2) "Healthy bank" means a state bank whose financial condition satisfies the criteria established by State Bank Department rule; and

(3) "Supervisory banking authority" means the Bank Commissioner for state banks and the United States Comptroller of the Currency for national banks.

Amended by Act 2019, No. 315,§ 2549, eff. 7/24/2019.

Acts 1997, No. 89, § 1; 2005, No. 1816, § 1; 2007, No. 42, § 1.
Ark. Code Ann. § 23-4-711 — AR Code / Title 23 / Chapter 4 / Subchapter 7 / Section 23-4-711
Contracts for pooling freight or dividing revenues prohibited
Status: in_force

It shall be unlawful for any person or corporation engaged in the transportation of passengers or property, as mentioned in § 23-4-710 , to make or enter into any contract, agreement, or combination, directly or indirectly, for the pooling of freight, or to pool the freight of the different railroads or lines by dividing between them the gross or net earnings of those railroads or any part thereof, or by equalizing, evening up, or dividing the property or passengers carried by those railroads. Acts 1899, No. 53, § 12, p. 82; C. & M. Dig., § 876; Pope's Dig., § 1080; A.S.A. 1947, § 73-1515.

It shall be unlawful for any person or corporation engaged in the transportation of passengers or property, as mentioned in § 23-4-710 , to make or enter into any contract, agreement, or combination, directly or indirectly, for the pooling of freight, or to pool the freight of the different railroads or lines by dividing between them the gross or net earnings of those railroads or any part thereof, or by equalizing, evening up, or dividing the property or passengers carried by those railroads.

Acts 1899, No. 53, § 12, p. 82; C. & M. Dig., § 876; Pope's Dig., § 1080; A.S.A. 1947, § 73-1515.