Ark. Code Ann. § 23-66-206 — AR Code / Title 23 / Chapter 66 / Subchapter 2 / Section 23-66-206
Unfair methods of competition and unfair or deceptive acts or practices defined
Status: in_force

The following are defined as unfair methods of competition and unfair or deceptive acts or practices in the business of insurance: (1) "Boycott, coercion, and intimidation" means entering into any agreement to commit or, by any concerted action, committing any act of boycott, coercion, or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance; (2) "Churning of business" means a situation in which the licensee replaces an existing policy of life insurance or accident and health insurance, or both, and that replacement is: (A) Not in accordance with § 23-66-307 ; or (B) Without objective demonstration by the licensee of the purpose of replacing the policy for the benefit and betterment of the insured; (3) "Defamation" means making, publishing, disseminating, or circulating, directly or indirectly, or aiding, abetting, or encouraging the making, publishing, disseminating, or circulating of any oral or written statement or of any pamphlet, circular, article, or literature that is false or maliciously critical of or derogatory to the financial condition of any person and that is calculated to injure that person; (4) (A) "Failure to maintain complaint handling procedures" means failing to adopt and implement reasonable standards for the prompt handling of complaints received by the person from insureds or claimants, or from the Insurance Commissioner on behalf of insureds or claimants, and failing to keep a record of the complaints received. (B) (i) A complete complaints register of all complaints that the person has received shall be maintained for the current year plus five (5) calendar years. (ii) The complaints register described in subdivision (4)(B)(i) of this section shall indicate: (a) The total number of complaints; (b) The classification of complaints by line of insurance; (c) The nature of each complaint; (d) The disposition of each complaint; (e) The time it took to process each complaint; and (f) Other information as the commissioner may reasonably require by way of rules. (C) As used in this subdivision (4), "complaint" means any written communication primarily expressing a grievance; (5) "Failure to maintain conflict of interest procedures" means failing to adopt and implement on or before the next financial or market conduct examination conducted by the commissioner on and after passage of this act and thereafter maintain written conflict of interest procedures and provisions, in form and format satisfactory to the commissioner, designed to identify and resolve promptly any general or pecuniary conflicts of interest as to officers, directors, managers, supervisors, and other key personnel of domestic insurers, including without limitation domestic stock and mutual insurers, domestic stipulated premium insurers, domestic mutual assessment life and disability insurers, domestic health maintenance organizations, domestic farmers' mutual aid associations, domestic hospital or medical service corporations, and domestic fraternal benefit societies; (6) "False information and advertising generally" means making, publishing, disseminating, circulating, or placing before the public or causing, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public in a newspaper, magazine, or other publication or in the form of a notice, circular, pamphlet, letter, or poster or over any radio or television station or in any other way an advertisement, announcement, or statement containing any assertion, representation, or statement with respect to the business of insurance or with respect to any person in the conduct of his or her insurance business that is untrue, deceptive, or misleading; (7) "False statements and entries" means: (A) Filing with any supervisory or other public official or making, publishing, disseminating, circulating, or delivering to any person, or placing before the public or causing, directly or indirectly, to be made, published, disseminated, circulated, delivered to any person, or placed before the public any false statement of financial condition of a person with intent to deceive; and (B) Knowingly making any false entry of a material fact in any book, report, or statement of any person or knowingly omitting to make a true entry of any material fact pertaining to the business of the person in any book, report, or statement of that person; (8) "Misrepresentation and false advertising of insurance policies" means making, issuing, circulating, or causing to be made, issued, or circulated, any estimate, illustrations, circular, statement, sales presentation, omission, or comparison, that: (A) Misrepresents the benefits, advantages, conditions, or terms of any insurance policy; (B) Misrepresents the dividends or share of the surplus to be received on any insurance policy; (C) Makes any false or misleading statements to the dividends or share of surplus previously paid on any insurance policy; (D) Is misleading or is a misrepresentation as to the financial condition of any person or as to the legal reserve system upon which any life insurer operates; (E) Uses any name or title of any insurance policy or class of insurance policies, misrepresenting the true nature of the insurance policy; (F) Is a misrepresentation for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, or surrender of any insurance policy; (G) Is a misrepresentation for the purpose of effectuating a pledge or assignment of or effecting a loan against any insurance policy; or (H) Misrepresents any insurance policy as being shares of stock; (9) (A) "Rebates", except as otherwise expressly provided by law, means the act of knowingly: (i) Permitting or offering to make or making any life, health, annuity, or other insurance contract, or agreement as to the contract, other than as plainly expressed in the insurance contract; (ii) Paying, allowing, or giving or offering to pay, allow, or give, directly or indirectly, as inducement to the insurance contract any rebate of premiums payable on the contract or any special favor or advantage in the dividends or other benefits under the insurance contract or any valuable consideration or inducement whatever not specified in the contract; or (iii) Giving, selling, or purchasing or offering to give, sell, or purchase as inducement to the insurance contract or in connection with the contract any stocks, bonds, or other securities of any insurance company or other corporation, association, or partnership or any dividends or profits accrued under the insurance contract or anything of value whatsoever not specified in the insurance contract. (B) Subdivision (9)(A) or subdivision (13) of this section shall not be construed as including within "rebates" or "unfair discrimination" any of the following practices: (i) In the case of any contract of life insurance or life annuity, the paying of bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, provided that those bonuses or abatement of premiums shall be fair and equitable for policyholders and for the best interests of the company and its policyholders; (ii) In the case of life insurance policies issued on the industrial debit plan, making allowance to policyholders who have continuously for a specified period made premium payments directly to an office of the insurer in an amount that fairly represents the saving in collection expenses; (iii) Readjustment of the rate of premium for a group insurance policy based on the loss or expense under the policy at the end of the first or any subsequent policy year of insurance under the policy, which may be made retroactive only for the policy year; (iv) Engaging in an arrangement that does not violate section 106 of the Bank Holding Company Act Amendments of 1970, 12 U.S.C. § 1972 , as interpreted by the Board of Governors of the Federal Reserve System, or section 1464(q) of the Home Owners' Loan Act, 12 U.S.C. § 1461 et seq.; (v) Under a prior written agreement with a client paying total annual premiums, for all lines of business, of one hundred thousand dollars ($100,000) or more, adjusting or refunding a part of a consulting fee charged by a licensed insurance consultant based on commissions received by the consultant from insurance carriers; or (vi) (a) Offering or providing by an insurer or producer, by or through an employee, affiliate, or third-party representative, a value-added product or service at no or reduced cost if the value-added product or service is not specified in the insurance policy and the value-added product or service: (1) Relates to the insurance policy coverage; and (2) Is primarily designed to satisfy one (1) or more of the following: (A) Provide loss mitigation or loss control; (B) Reduce claim costs or claim settlement costs; (C) Provide education about liability risks or risk of loss to persons or property; (D) Monitor or assess risk, identify sources of risk, or develop strategies for eliminating or reducing risk; (E) Enhance health; (F) Enhance financial wellness through items, including without limitation education or financial planning services; (G) Provide post-loss services; (H) (i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer. (ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or (I) Assist in the administration of an active employee benefit insurance coverage or retired employee benefit insurance coverage. (b) The cost to an insurer or producer offering the valued-based product or service to a customer shall be reasonable in comparison to the customer's premiums or insurance coverage for the insurance policy class. (c) If an insurer or producer is providing the valued-based product or service offered, then the insurer or producer shall ensure that the customer is provided with contact information, upon request, to assist the customer with questions regarding the valued-based product or service. (d) (1) The commissioner may promulgate rules to implement this section. (2) The rules promulgated by the commissioner may include without limitation consumer protection, consumer data protections and privacy, consumer disclosure, and unfair discrimination. (e) The availability of the value-added product or service shall be: (1) (A) Based on documented objective criteria. (B) The documented criteria under subdivision (9)(B)(vi) (e)(1)(A) of this section shall be maintained by the insurer or producer and produced upon request by the commissioner; and (2) Offered in a manner that is not unfairly discriminatory. (f) (1) If an insurer or producer does not have sufficient evidence but has a good faith belief that the value-based product or service meets the criteria under subdivision (9)(B)(vi) (a)(2) of this section, the insurer or producer may provide the value-based product or service in a manner that is not unfairly discriminatory as part of a pilot or testing program for no more than one (1) year as determined by rule by the commissioner. (2) An insurer or producer shall notify the commissioner of a pilot or testing program offered to consumers in this state before the pilot or testing program is launched and may proceed with the pilot or testing program unless the commissioner objects within twenty-one (21) days of receiving the notice required under this subdivision (9)(B)(vi) (f)(2) . (C) Token gifts of one hundred dollars ($100) or less in wholesale value that are used for advertising purposes are not prohibited under this subdivision (9), including without limitation pens, calendars, notebooks, and other items. (D) An insurer, producer, or representative of an insurer or producer shall not offer or provide insurance coverage as an inducement to the purchase of another policy; (10) "Stock operations and advisory board contracts" means issuing or delivering or permitting agents, officers, or employees to issue or deliver agency company stock, or other capital stock or benefit certificates or shares in any common-law corporation, or securities or any special or advisory board contracts or other contracts of any kind that promise returns and profits as an inducement to insurance; (11) "Underwriting: refusing certain risks" means refusing to issue or limiting the amount of coverage on a property or casualty risk based upon knowledge of an insurer's nonrenewal of the applicant's previous property or casualty policy or contract; (12) "Unfair claims settlement practices" means committing or performing with such frequency as to indicate a general business practice any of the following: (A) Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue; (B) Failing to acknowledge and act reasonably and promptly upon communications with respect to claims arising under insurance policies; (C) Failing to adopt and implement reasonable standards for the prompt investigation of claims arising under insurance policies; (D) Refusing to pay claims without conducting a reasonable investigation based upon all available information; (E) Failing to affirm or deny coverage of claims within a reasonable time after proof of loss statements have been completed; (F) Not attempting in good faith to effectuate prompt, fair, and equitable settlements of claims in which liability has become reasonably clear; (G) Attempting to settle claims on the basis of an application that was altered without notice to, or knowledge or consent of, the insured; (H) Making claim payments to policyholders or beneficiaries not accompanied by a statement setting forth the coverage under which payments are being made; (I) Delaying the investigation or payment of claims by requiring an insured or claimant, or the physician of either, to submit a preliminary claim report and then requiring the subsequent submission of formal proof of loss forms, both of which submissions contain substantially the same information; (J) Failing to promptly provide a reasonable explanation of the basis in the insurance policy in relation to the facts of applicable law for denial of a claim or for the offer of a compromise settlement; (K) Compelling insureds to institute litigation to recover amounts due under an insurance policy by offering substantially less than the amounts ultimately recovered in actions brought by those insureds; (L) Attempting to settle a claim for less than the amount to which a reasonable person would have believed he or she was entitled by reference to written or printed advertising material accompanying or made part of an application; (M) Making known to insureds or claimants a policy of appealing from arbitration awards in favor of insureds or claimants for the purpose of compelling them to accept settlements or compromises less than the amount awarded in arbitration; (N) Failing to promptly settle claims, when liability has become reasonably clear, under one (1) portion of the insurance policy coverage in order to influence settlements under other portions of the insurance policy coverage; and (O) Requiring as a condition of payment of a claim that repairs must be made by a particular contractor, supplier, or repair shop; (13) "Unfair discrimination" means: (A) Making or permitting any unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for any contract of life insurance or of life annuity or in the dividends or other benefits payable under the contract of life insurance or of life annuity, or in any other of the terms and conditions of such a contract; (B) Making or permitting any unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium policy fees or rates charged for any policy or contract of accident and health insurance, or in the benefits payable under the policy or contract of accident and health insurance, or in any of the terms or conditions of the contract, or in any other manner whatever; (C) Making or permitting any unfair discrimination between individuals or risks of the same class and of essentially the same hazards by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a property or casualty risk because of the geographic location of the risk unless: (i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or (ii) The refusal, cancellation, or limitation is required by law or regulatory mandate; (D) Making or permitting any unfair discrimination between individuals or risks of the same class and of essentially the same hazards by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a residential property risk or on the personal property contained in the residential property because of the age of the residential property unless: (i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or (ii) The refusal, cancellation, or limitation is required by law or regulatory mandate; (E) Refusing to insure, refusing to continue to insure, or limiting the amount of coverage available to an individual because of the marital status of the individual. However, nothing in this subdivision (13)(E) shall prohibit an insurer from taking marital status into account for the purpose of defining persons eligible for dependent benefits; (F) Terminating or modifying coverage or refusing to issue or refusing to renew any policy or contract of insurance solely because the applicant or insured or any employee of either is mentally or physically impaired. However, this subdivision (13)(F) shall not be interpreted to modify any other provision of law relating to the termination, modification, issuance, or renewal of any insurance policy or contract; (G) (i) Refusing to insure or continue to insure an individual or risks solely because of the individual's race, color, creed, national origin, citizenship, status as a victim of domestic abuse, or sex. (ii) As used in subdivision (13)(G)(i) of this section, "domestic abuse" means: (a) Physical harm, bodily injury, or assault between family or household members; (b) The infliction of fear of imminent physical harm, bodily injury, or assault between family members or household members; or (c) Sexual conduct between family or household members, whether minors or adults, that constitutes a crime under the laws of this state; and (H) (i) (a) Refusing to insure, or refusing to continue to insure, or limiting the amount, extent, or kind of coverage available for life insurance to an individual, or charging an individual a different rate for the same coverage, solely because of the individual's status as a living organ donor. (b) With respect to other conditions, a person who is a living organ donor shall be subject to the same standards of sound actuarial principles as a person who is not a living organ donor. (ii) As used in this subdivision (13)(H), "living organ donor" means a person who is a registered organ donor; (14) (A) "Unfair financial planning practices" includes an insurance producer: (i) (a) Holding himself or herself out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, or any other specialist engaged in the business of giving financial planning or advice relating to investments, insurance, real estate, tax matters, or trust and estate matters, if the insurance producer is, in fact, engaged only in the sale of policies. (b) However, subdivision (14)(A)(i) (a) of this section does not preclude a person who holds some form of formal recognized financial planning or consultant certification or designation from using the certification or designation when the person is only selling insurance. (c) Subdivision (14)(A)(i) (a) of this section does not permit persons to charge an additional fee for services that are customarily associated with the solicitation, negotiation, or servicing of policies; (ii) (a) Engaging in the business of financial planning without disclosing in writing to the client, prior to the execution of the agreement provided for in subdivision (14)(A)(iii) of this section, or solicitation of the sale of a product or service that: (1) He or she is also an insurance salesperson; and (2) A commission for the sale of an insurance product will be received in addition to a fee for financial planning, if the sale involves a commission. (b) The disclosure requirement under this subdivision (14)(A)(ii) may be met by including it in any written disclosure required by federal or state securities law; and (iii) (a) (1) Charging fees other than commissions for financial planning by an insurance producer unless the fees are based upon a written agreement that is signed by the party to be charged in advance of the performance of the services under the agreement. (2) A copy of the agreement under subdivision (14)(A)(iii) (a)(1) of this section must be provided to the party to be charged at the time the agreement is signed by the party. (3) The services for which the fee is to be charged must be specifically stated in the agreement. (4) The amount of the fee to be charged or how it will be determined or calculated must be specifically stated in the agreement. (5) The agreement must state that the client is under no obligation to purchase any insurance product through the insurance producer or financial consultant. (b) The insurance producer shall retain a copy of the agreement for not less than three (3) years after completion of services, and a copy shall be available to the commissioner upon request. (B) "Unfair financial planning practices" does not include funeral expense insurance and prepaid funeral benefits contracts; and (15) (A) "Unfair property or casualty policy cancellation" means: (i) After a policy on a property or casualty risk has been in force for more than sixty (60) days or after the effective date of a renewal of the policy, insurance coverage is terminated: (a) Before the expiration date of the policy for a reason other than provided under subdivision (15)(B) of this section; or (b) Without providing effective notice as described in subdivision (15)(C) of this section; and (ii) (a) For a policy in force for sixty (60) days or less, an insurer has terminated the policy without mailing or delivering notice of cancellation to the named insured or to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation. (b) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason shall be given. (B) "Unfair property or casualty policy cancellation" does not include an insurer's cancellation of a policy that has been in force for more than sixty (60) days or after the effective date of a renewal of the policy as long as the insurer provides effective notice and terminates the policy for one (1) of the following reasons: (i) Nonpayment of premium; (ii) Fraud or material misrepresentation made by or with the knowledge of the named insured in obtaining the policy, continuing the policy, or presenting a claim under the policy; (iii) The occurrence of a material change in the risk that substantially increases any hazard insured against after policy issuance; (iv) Violation of any local fire, health, safety, building, or construction regulation or ordinance with respect to any insured property or the occupancy of the property that substantially increases any hazard insured against under the policy; (v) Nonpayment of membership dues in those cases in which the bylaws, agreements, or other legal instruments of the insurer issuing the policy require payment as a condition of the issuance and maintenance of the policy; or (vi) A material violation of a material provision of the policy. (C) (i) Cancellations of property and casualty policies in force for more than sixty (60) days or after the effective date of a renewal of the policy shall only be effective when notice of cancellation is mailed or delivered by the insurer to the named insured and to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation. (ii) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason for cancellation shall be given. (D) This subdivision (15) is not applicable to any policy providing coverage for workers' compensation or employers' liability or to any policy providing coverage for personal automobile liability, automobile physical damage, or automobile collision, or any combination of coverage for personal automobile liability, automobile physical damage, or automobile collision. Amended by Act 2023, No. 523,§ 1, eff. 8/1/2023. Amended by Act 2023, No. 337,§ 1, eff. 8/1/2023. Amended by Act 2021, No. 994,§ 1, eff. 7/1/2022. Amended by Act 2019, No. 315,§ 2662, eff. 7/24/2019. Amended by Act 2019, No. 696,§ 2, eff. 7/24/2019. Amended by Act 2019, No. 244,§ 1, eff. 7/24/2019. Acts 1959, No. 148, § 212; 1963, No. 75, § 1; 1973, No. 41, § 2; 1975, No. 729, § 5; 1981, No. 809, §§ 6-9; A.S.A. 1947, § 66-3005; Acts 1987, No. 156, §§ 1, 2; 1987, No. 959, § 20; 1993, No. 1145, § 1; 1995, No. 178, § 1; 1997, No. 1000, § 4; 1999, No. 381, § 1; 2001, No. 1603, §§ 24, 25; 2003, No. 1747, §§ 2, 3; 2009, No. 619, § 1; 2011, No. 797, § 1.

The following are defined as unfair methods of competition and unfair or deceptive acts or practices in the business of insurance:

(1) "Boycott, coercion, and intimidation" means entering into any agreement to commit or, by any concerted action, committing any act of boycott, coercion, or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance;

(2) "Churning of business" means a situation in which the licensee replaces an existing policy of life insurance or accident and health insurance, or both, and that replacement is: (A) Not in accordance with § 23-66-307 ; or (B) Without objective demonstration by the licensee of the purpose of replacing the policy for the benefit and betterment of the insured;

(A) Not in accordance with § 23-66-307 ; or

(B) Without objective demonstration by the licensee of the purpose of replacing the policy for the benefit and betterment of the insured;

(3) "Defamation" means making, publishing, disseminating, or circulating, directly or indirectly, or aiding, abetting, or encouraging the making, publishing, disseminating, or circulating of any oral or written statement or of any pamphlet, circular, article, or literature that is false or maliciously critical of or derogatory to the financial condition of any person and that is calculated to injure that person;

(4) (A) "Failure to maintain complaint handling procedures" means failing to adopt and implement reasonable standards for the prompt handling of complaints received by the person from insureds or claimants, or from the Insurance Commissioner on behalf of insureds or claimants, and failing to keep a record of the complaints received. (B) (i) A complete complaints register of all complaints that the person has received shall be maintained for the current year plus five (5) calendar years. (ii) The complaints register described in subdivision (4)(B)(i) of this section shall indicate: (a) The total number of complaints; (b) The classification of complaints by line of insurance; (c) The nature of each complaint; (d) The disposition of each complaint; (e) The time it took to process each complaint; and (f) Other information as the commissioner may reasonably require by way of rules. (C) As used in this subdivision (4), "complaint" means any written communication primarily expressing a grievance;

(A) "Failure to maintain complaint handling procedures" means failing to adopt and implement reasonable standards for the prompt handling of complaints received by the person from insureds or claimants, or from the Insurance Commissioner on behalf of insureds or claimants, and failing to keep a record of the complaints received.

(B) (i) A complete complaints register of all complaints that the person has received shall be maintained for the current year plus five (5) calendar years. (ii) The complaints register described in subdivision (4)(B)(i) of this section shall indicate: (a) The total number of complaints; (b) The classification of complaints by line of insurance; (c) The nature of each complaint; (d) The disposition of each complaint; (e) The time it took to process each complaint; and (f) Other information as the commissioner may reasonably require by way of rules.

(i) A complete complaints register of all complaints that the person has received shall be maintained for the current year plus five (5) calendar years.

(ii) The complaints register described in subdivision (4)(B)(i) of this section shall indicate: (a) The total number of complaints; (b) The classification of complaints by line of insurance; (c) The nature of each complaint; (d) The disposition of each complaint; (e) The time it took to process each complaint; and (f) Other information as the commissioner may reasonably require by way of rules.

(a) The total number of complaints;

(b) The classification of complaints by line of insurance;

(c) The nature of each complaint;

(d) The disposition of each complaint;

(e) The time it took to process each complaint; and

(f) Other information as the commissioner may reasonably require by way of rules.

(C) As used in this subdivision (4), "complaint" means any written communication primarily expressing a grievance;

(5) "Failure to maintain conflict of interest procedures" means failing to adopt and implement on or before the next financial or market conduct examination conducted by the commissioner on and after passage of this act and thereafter maintain written conflict of interest procedures and provisions, in form and format satisfactory to the commissioner, designed to identify and resolve promptly any general or pecuniary conflicts of interest as to officers, directors, managers, supervisors, and other key personnel of domestic insurers, including without limitation domestic stock and mutual insurers, domestic stipulated premium insurers, domestic mutual assessment life and disability insurers, domestic health maintenance organizations, domestic farmers' mutual aid associations, domestic hospital or medical service corporations, and domestic fraternal benefit societies;

(6) "False information and advertising generally" means making, publishing, disseminating, circulating, or placing before the public or causing, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public in a newspaper, magazine, or other publication or in the form of a notice, circular, pamphlet, letter, or poster or over any radio or television station or in any other way an advertisement, announcement, or statement containing any assertion, representation, or statement with respect to the business of insurance or with respect to any person in the conduct of his or her insurance business that is untrue, deceptive, or misleading;

(7) "False statements and entries" means: (A) Filing with any supervisory or other public official or making, publishing, disseminating, circulating, or delivering to any person, or placing before the public or causing, directly or indirectly, to be made, published, disseminated, circulated, delivered to any person, or placed before the public any false statement of financial condition of a person with intent to deceive; and (B) Knowingly making any false entry of a material fact in any book, report, or statement of any person or knowingly omitting to make a true entry of any material fact pertaining to the business of the person in any book, report, or statement of that person;

(A) Filing with any supervisory or other public official or making, publishing, disseminating, circulating, or delivering to any person, or placing before the public or causing, directly or indirectly, to be made, published, disseminated, circulated, delivered to any person, or placed before the public any false statement of financial condition of a person with intent to deceive; and

(B) Knowingly making any false entry of a material fact in any book, report, or statement of any person or knowingly omitting to make a true entry of any material fact pertaining to the business of the person in any book, report, or statement of that person;

(8) "Misrepresentation and false advertising of insurance policies" means making, issuing, circulating, or causing to be made, issued, or circulated, any estimate, illustrations, circular, statement, sales presentation, omission, or comparison, that: (A) Misrepresents the benefits, advantages, conditions, or terms of any insurance policy; (B) Misrepresents the dividends or share of the surplus to be received on any insurance policy; (C) Makes any false or misleading statements to the dividends or share of surplus previously paid on any insurance policy; (D) Is misleading or is a misrepresentation as to the financial condition of any person or as to the legal reserve system upon which any life insurer operates; (E) Uses any name or title of any insurance policy or class of insurance policies, misrepresenting the true nature of the insurance policy; (F) Is a misrepresentation for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, or surrender of any insurance policy; (G) Is a misrepresentation for the purpose of effectuating a pledge or assignment of or effecting a loan against any insurance policy; or (H) Misrepresents any insurance policy as being shares of stock;

(A) Misrepresents the benefits, advantages, conditions, or terms of any insurance policy;

(B) Misrepresents the dividends or share of the surplus to be received on any insurance policy;

(C) Makes any false or misleading statements to the dividends or share of surplus previously paid on any insurance policy;

(D) Is misleading or is a misrepresentation as to the financial condition of any person or as to the legal reserve system upon which any life insurer operates;

(E) Uses any name or title of any insurance policy or class of insurance policies, misrepresenting the true nature of the insurance policy;

(F) Is a misrepresentation for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, or surrender of any insurance policy;

(G) Is a misrepresentation for the purpose of effectuating a pledge or assignment of or effecting a loan against any insurance policy; or

(H) Misrepresents any insurance policy as being shares of stock;

(9) (A) "Rebates", except as otherwise expressly provided by law, means the act of knowingly: (i) Permitting or offering to make or making any life, health, annuity, or other insurance contract, or agreement as to the contract, other than as plainly expressed in the insurance contract; (ii) Paying, allowing, or giving or offering to pay, allow, or give, directly or indirectly, as inducement to the insurance contract any rebate of premiums payable on the contract or any special favor or advantage in the dividends or other benefits under the insurance contract or any valuable consideration or inducement whatever not specified in the contract; or (iii) Giving, selling, or purchasing or offering to give, sell, or purchase as inducement to the insurance contract or in connection with the contract any stocks, bonds, or other securities of any insurance company or other corporation, association, or partnership or any dividends or profits accrued under the insurance contract or anything of value whatsoever not specified in the insurance contract. (B) Subdivision (9)(A) or subdivision (13) of this section shall not be construed as including within "rebates" or "unfair discrimination" any of the following practices: (i) In the case of any contract of life insurance or life annuity, the paying of bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, provided that those bonuses or abatement of premiums shall be fair and equitable for policyholders and for the best interests of the company and its policyholders; (ii) In the case of life insurance policies issued on the industrial debit plan, making allowance to policyholders who have continuously for a specified period made premium payments directly to an office of the insurer in an amount that fairly represents the saving in collection expenses; (iii) Readjustment of the rate of premium for a group insurance policy based on the loss or expense under the policy at the end of the first or any subsequent policy year of insurance under the policy, which may be made retroactive only for the policy year; (iv) Engaging in an arrangement that does not violate section 106 of the Bank Holding Company Act Amendments of 1970, 12 U.S.C. § 1972 , as interpreted by the Board of Governors of the Federal Reserve System, or section 1464(q) of the Home Owners' Loan Act, 12 U.S.C. § 1461 et seq.; (v) Under a prior written agreement with a client paying total annual premiums, for all lines of business, of one hundred thousand dollars ($100,000) or more, adjusting or refunding a part of a consulting fee charged by a licensed insurance consultant based on commissions received by the consultant from insurance carriers; or (vi) (a) Offering or providing by an insurer or producer, by or through an employee, affiliate, or third-party representative, a value-added product or service at no or reduced cost if the value-added product or service is not specified in the insurance policy and the value-added product or service: (1) Relates to the insurance policy coverage; and (2) Is primarily designed to satisfy one (1) or more of the following: (A) Provide loss mitigation or loss control; (B) Reduce claim costs or claim settlement costs; (C) Provide education about liability risks or risk of loss to persons or property; (D) Monitor or assess risk, identify sources of risk, or develop strategies for eliminating or reducing risk; (E) Enhance health; (F) Enhance financial wellness through items, including without limitation education or financial planning services; (G) Provide post-loss services; (H) (i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer. (ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or (I) Assist in the administration of an active employee benefit insurance coverage or retired employee benefit insurance coverage. (b) The cost to an insurer or producer offering the valued-based product or service to a customer shall be reasonable in comparison to the customer's premiums or insurance coverage for the insurance policy class. (c) If an insurer or producer is providing the valued-based product or service offered, then the insurer or producer shall ensure that the customer is provided with contact information, upon request, to assist the customer with questions regarding the valued-based product or service. (d) (1) The commissioner may promulgate rules to implement this section. (2) The rules promulgated by the commissioner may include without limitation consumer protection, consumer data protections and privacy, consumer disclosure, and unfair discrimination. (e) The availability of the value-added product or service shall be: (1) (A) Based on documented objective criteria. (B) The documented criteria under subdivision (9)(B)(vi) (e)(1)(A) of this section shall be maintained by the insurer or producer and produced upon request by the commissioner; and (2) Offered in a manner that is not unfairly discriminatory. (f) (1) If an insurer or producer does not have sufficient evidence but has a good faith belief that the value-based product or service meets the criteria under subdivision (9)(B)(vi) (a)(2) of this section, the insurer or producer may provide the value-based product or service in a manner that is not unfairly discriminatory as part of a pilot or testing program for no more than one (1) year as determined by rule by the commissioner. (2) An insurer or producer shall notify the commissioner of a pilot or testing program offered to consumers in this state before the pilot or testing program is launched and may proceed with the pilot or testing program unless the commissioner objects within twenty-one (21) days of receiving the notice required under this subdivision (9)(B)(vi) (f)(2) . (C) Token gifts of one hundred dollars ($100) or less in wholesale value that are used for advertising purposes are not prohibited under this subdivision (9), including without limitation pens, calendars, notebooks, and other items. (D) An insurer, producer, or representative of an insurer or producer shall not offer or provide insurance coverage as an inducement to the purchase of another policy;

(A) "Rebates", except as otherwise expressly provided by law, means the act of knowingly: (i) Permitting or offering to make or making any life, health, annuity, or other insurance contract, or agreement as to the contract, other than as plainly expressed in the insurance contract; (ii) Paying, allowing, or giving or offering to pay, allow, or give, directly or indirectly, as inducement to the insurance contract any rebate of premiums payable on the contract or any special favor or advantage in the dividends or other benefits under the insurance contract or any valuable consideration or inducement whatever not specified in the contract; or (iii) Giving, selling, or purchasing or offering to give, sell, or purchase as inducement to the insurance contract or in connection with the contract any stocks, bonds, or other securities of any insurance company or other corporation, association, or partnership or any dividends or profits accrued under the insurance contract or anything of value whatsoever not specified in the insurance contract.

(i) Permitting or offering to make or making any life, health, annuity, or other insurance contract, or agreement as to the contract, other than as plainly expressed in the insurance contract;

(ii) Paying, allowing, or giving or offering to pay, allow, or give, directly or indirectly, as inducement to the insurance contract any rebate of premiums payable on the contract or any special favor or advantage in the dividends or other benefits under the insurance contract or any valuable consideration or inducement whatever not specified in the contract; or

(iii) Giving, selling, or purchasing or offering to give, sell, or purchase as inducement to the insurance contract or in connection with the contract any stocks, bonds, or other securities of any insurance company or other corporation, association, or partnership or any dividends or profits accrued under the insurance contract or anything of value whatsoever not specified in the insurance contract.

(B) Subdivision (9)(A) or subdivision (13) of this section shall not be construed as including within "rebates" or "unfair discrimination" any of the following practices: (i) In the case of any contract of life insurance or life annuity, the paying of bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, provided that those bonuses or abatement of premiums shall be fair and equitable for policyholders and for the best interests of the company and its policyholders; (ii) In the case of life insurance policies issued on the industrial debit plan, making allowance to policyholders who have continuously for a specified period made premium payments directly to an office of the insurer in an amount that fairly represents the saving in collection expenses; (iii) Readjustment of the rate of premium for a group insurance policy based on the loss or expense under the policy at the end of the first or any subsequent policy year of insurance under the policy, which may be made retroactive only for the policy year; (iv) Engaging in an arrangement that does not violate section 106 of the Bank Holding Company Act Amendments of 1970, 12 U.S.C. § 1972 , as interpreted by the Board of Governors of the Federal Reserve System, or section 1464(q) of the Home Owners' Loan Act, 12 U.S.C. § 1461 et seq.; (v) Under a prior written agreement with a client paying total annual premiums, for all lines of business, of one hundred thousand dollars ($100,000) or more, adjusting or refunding a part of a consulting fee charged by a licensed insurance consultant based on commissions received by the consultant from insurance carriers; or (vi) (a) Offering or providing by an insurer or producer, by or through an employee, affiliate, or third-party representative, a value-added product or service at no or reduced cost if the value-added product or service is not specified in the insurance policy and the value-added product or service: (1) Relates to the insurance policy coverage; and (2) Is primarily designed to satisfy one (1) or more of the following: (A) Provide loss mitigation or loss control; (B) Reduce claim costs or claim settlement costs; (C) Provide education about liability risks or risk of loss to persons or property; (D) Monitor or assess risk, identify sources of risk, or develop strategies for eliminating or reducing risk; (E) Enhance health; (F) Enhance financial wellness through items, including without limitation education or financial planning services; (G) Provide post-loss services; (H) (i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer. (ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or (I) Assist in the administration of an active employee benefit insurance coverage or retired employee benefit insurance coverage. (b) The cost to an insurer or producer offering the valued-based product or service to a customer shall be reasonable in comparison to the customer's premiums or insurance coverage for the insurance policy class. (c) If an insurer or producer is providing the valued-based product or service offered, then the insurer or producer shall ensure that the customer is provided with contact information, upon request, to assist the customer with questions regarding the valued-based product or service. (d) (1) The commissioner may promulgate rules to implement this section. (2) The rules promulgated by the commissioner may include without limitation consumer protection, consumer data protections and privacy, consumer disclosure, and unfair discrimination. (e) The availability of the value-added product or service shall be: (1) (A) Based on documented objective criteria. (B) The documented criteria under subdivision (9)(B)(vi) (e)(1)(A) of this section shall be maintained by the insurer or producer and produced upon request by the commissioner; and (2) Offered in a manner that is not unfairly discriminatory. (f) (1) If an insurer or producer does not have sufficient evidence but has a good faith belief that the value-based product or service meets the criteria under subdivision (9)(B)(vi) (a)(2) of this section, the insurer or producer may provide the value-based product or service in a manner that is not unfairly discriminatory as part of a pilot or testing program for no more than one (1) year as determined by rule by the commissioner. (2) An insurer or producer shall notify the commissioner of a pilot or testing program offered to consumers in this state before the pilot or testing program is launched and may proceed with the pilot or testing program unless the commissioner objects within twenty-one (21) days of receiving the notice required under this subdivision (9)(B)(vi) (f)(2) .

(i) In the case of any contract of life insurance or life annuity, the paying of bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, provided that those bonuses or abatement of premiums shall be fair and equitable for policyholders and for the best interests of the company and its policyholders;

(ii) In the case of life insurance policies issued on the industrial debit plan, making allowance to policyholders who have continuously for a specified period made premium payments directly to an office of the insurer in an amount that fairly represents the saving in collection expenses;

(iii) Readjustment of the rate of premium for a group insurance policy based on the loss or expense under the policy at the end of the first or any subsequent policy year of insurance under the policy, which may be made retroactive only for the policy year;

(iv) Engaging in an arrangement that does not violate section 106 of the Bank Holding Company Act Amendments of 1970, 12 U.S.C. § 1972 , as interpreted by the Board of Governors of the Federal Reserve System, or section 1464(q) of the Home Owners' Loan Act, 12 U.S.C. § 1461 et seq.;

(v) Under a prior written agreement with a client paying total annual premiums, for all lines of business, of one hundred thousand dollars ($100,000) or more, adjusting or refunding a part of a consulting fee charged by a licensed insurance consultant based on commissions received by the consultant from insurance carriers; or

(vi) (a) Offering or providing by an insurer or producer, by or through an employee, affiliate, or third-party representative, a value-added product or service at no or reduced cost if the value-added product or service is not specified in the insurance policy and the value-added product or service: (1) Relates to the insurance policy coverage; and (2) Is primarily designed to satisfy one (1) or more of the following: (A) Provide loss mitigation or loss control; (B) Reduce claim costs or claim settlement costs; (C) Provide education about liability risks or risk of loss to persons or property; (D) Monitor or assess risk, identify sources of risk, or develop strategies for eliminating or reducing risk; (E) Enhance health; (F) Enhance financial wellness through items, including without limitation education or financial planning services; (G) Provide post-loss services; (H) (i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer. (ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or (I) Assist in the administration of an active employee benefit insurance coverage or retired employee benefit insurance coverage. (b) The cost to an insurer or producer offering the valued-based product or service to a customer shall be reasonable in comparison to the customer's premiums or insurance coverage for the insurance policy class. (c) If an insurer or producer is providing the valued-based product or service offered, then the insurer or producer shall ensure that the customer is provided with contact information, upon request, to assist the customer with questions regarding the valued-based product or service. (d) (1) The commissioner may promulgate rules to implement this section. (2) The rules promulgated by the commissioner may include without limitation consumer protection, consumer data protections and privacy, consumer disclosure, and unfair discrimination. (e) The availability of the value-added product or service shall be: (1) (A) Based on documented objective criteria. (B) The documented criteria under subdivision (9)(B)(vi) (e)(1)(A) of this section shall be maintained by the insurer or producer and produced upon request by the commissioner; and (2) Offered in a manner that is not unfairly discriminatory. (f) (1) If an insurer or producer does not have sufficient evidence but has a good faith belief that the value-based product or service meets the criteria under subdivision (9)(B)(vi) (a)(2) of this section, the insurer or producer may provide the value-based product or service in a manner that is not unfairly discriminatory as part of a pilot or testing program for no more than one (1) year as determined by rule by the commissioner. (2) An insurer or producer shall notify the commissioner of a pilot or testing program offered to consumers in this state before the pilot or testing program is launched and may proceed with the pilot or testing program unless the commissioner objects within twenty-one (21) days of receiving the notice required under this subdivision (9)(B)(vi) (f)(2) .

(a) Offering or providing by an insurer or producer, by or through an employee, affiliate, or third-party representative, a value-added product or service at no or reduced cost if the value-added product or service is not specified in the insurance policy and the value-added product or service: (1) Relates to the insurance policy coverage; and (2) Is primarily designed to satisfy one (1) or more of the following: (A) Provide loss mitigation or loss control; (B) Reduce claim costs or claim settlement costs; (C) Provide education about liability risks or risk of loss to persons or property; (D) Monitor or assess risk, identify sources of risk, or develop strategies for eliminating or reducing risk; (E) Enhance health; (F) Enhance financial wellness through items, including without limitation education or financial planning services; (G) Provide post-loss services; (H) (i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer. (ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or (I) Assist in the administration of an active employee benefit insurance coverage or retired employee benefit insurance coverage.

(1) Relates to the insurance policy coverage; and

(2) Is primarily designed to satisfy one (1) or more of the following: (A) Provide loss mitigation or loss control; (B) Reduce claim costs or claim settlement costs; (C) Provide education about liability risks or risk of loss to persons or property; (D) Monitor or assess risk, identify sources of risk, or develop strategies for eliminating or reducing risk; (E) Enhance health; (F) Enhance financial wellness through items, including without limitation education or financial planning services; (G) Provide post-loss services; (H) (i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer. (ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or (I) Assist in the administration of an active employee benefit insurance coverage or retired employee benefit insurance coverage.

(A) Provide loss mitigation or loss control;

(B) Reduce claim costs or claim settlement costs;

(C) Provide education about liability risks or risk of loss to persons or property;

(D) Monitor or assess risk, identify sources of risk, or develop strategies for eliminating or reducing risk;

(E) Enhance health;

(F) Enhance financial wellness through items, including without limitation education or financial planning services;

(G) Provide post-loss services;

(H) (i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer. (ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or

(i) Incentivize behavioral changes to improve the health or reduce the risk of death or disability of a customer.

(ii) As used in this subdivision (9)(B)(vi) (a)(2)(H) , "customer" means a policyholder, potential policyholder, certificate holder, potential certificate holder, insured, potential insured, or applicant; or

(I) Assist in the administration of an active employee benefit insurance coverage or retired employee benefit insurance coverage.

(b) The cost to an insurer or producer offering the valued-based product or service to a customer shall be reasonable in comparison to the customer's premiums or insurance coverage for the insurance policy class.

(c) If an insurer or producer is providing the valued-based product or service offered, then the insurer or producer shall ensure that the customer is provided with contact information, upon request, to assist the customer with questions regarding the valued-based product or service.

(d) (1) The commissioner may promulgate rules to implement this section. (2) The rules promulgated by the commissioner may include without limitation consumer protection, consumer data protections and privacy, consumer disclosure, and unfair discrimination.

(1) The commissioner may promulgate rules to implement this section.

(2) The rules promulgated by the commissioner may include without limitation consumer protection, consumer data protections and privacy, consumer disclosure, and unfair discrimination.

(e) The availability of the value-added product or service shall be: (1) (A) Based on documented objective criteria. (B) The documented criteria under subdivision (9)(B)(vi) (e)(1)(A) of this section shall be maintained by the insurer or producer and produced upon request by the commissioner; and (2) Offered in a manner that is not unfairly discriminatory.

(1) (A) Based on documented objective criteria. (B) The documented criteria under subdivision (9)(B)(vi) (e)(1)(A) of this section shall be maintained by the insurer or producer and produced upon request by the commissioner; and

(A) Based on documented objective criteria.

(B) The documented criteria under subdivision (9)(B)(vi) (e)(1)(A) of this section shall be maintained by the insurer or producer and produced upon request by the commissioner; and

(2) Offered in a manner that is not unfairly discriminatory.

(f) (1) If an insurer or producer does not have sufficient evidence but has a good faith belief that the value-based product or service meets the criteria under subdivision (9)(B)(vi) (a)(2) of this section, the insurer or producer may provide the value-based product or service in a manner that is not unfairly discriminatory as part of a pilot or testing program for no more than one (1) year as determined by rule by the commissioner. (2) An insurer or producer shall notify the commissioner of a pilot or testing program offered to consumers in this state before the pilot or testing program is launched and may proceed with the pilot or testing program unless the commissioner objects within twenty-one (21) days of receiving the notice required under this subdivision (9)(B)(vi) (f)(2) .

(1) If an insurer or producer does not have sufficient evidence but has a good faith belief that the value-based product or service meets the criteria under subdivision (9)(B)(vi) (a)(2) of this section, the insurer or producer may provide the value-based product or service in a manner that is not unfairly discriminatory as part of a pilot or testing program for no more than one (1) year as determined by rule by the commissioner.

(2) An insurer or producer shall notify the commissioner of a pilot or testing program offered to consumers in this state before the pilot or testing program is launched and may proceed with the pilot or testing program unless the commissioner objects within twenty-one (21) days of receiving the notice required under this subdivision (9)(B)(vi) (f)(2) .

(C) Token gifts of one hundred dollars ($100) or less in wholesale value that are used for advertising purposes are not prohibited under this subdivision (9), including without limitation pens, calendars, notebooks, and other items.

(D) An insurer, producer, or representative of an insurer or producer shall not offer or provide insurance coverage as an inducement to the purchase of another policy;

(10) "Stock operations and advisory board contracts" means issuing or delivering or permitting agents, officers, or employees to issue or deliver agency company stock, or other capital stock or benefit certificates or shares in any common-law corporation, or securities or any special or advisory board contracts or other contracts of any kind that promise returns and profits as an inducement to insurance;

(11) "Underwriting: refusing certain risks" means refusing to issue or limiting the amount of coverage on a property or casualty risk based upon knowledge of an insurer's nonrenewal of the applicant's previous property or casualty policy or contract;

(12) "Unfair claims settlement practices" means committing or performing with such frequency as to indicate a general business practice any of the following: (A) Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue; (B) Failing to acknowledge and act reasonably and promptly upon communications with respect to claims arising under insurance policies; (C) Failing to adopt and implement reasonable standards for the prompt investigation of claims arising under insurance policies; (D) Refusing to pay claims without conducting a reasonable investigation based upon all available information; (E) Failing to affirm or deny coverage of claims within a reasonable time after proof of loss statements have been completed; (F) Not attempting in good faith to effectuate prompt, fair, and equitable settlements of claims in which liability has become reasonably clear; (G) Attempting to settle claims on the basis of an application that was altered without notice to, or knowledge or consent of, the insured; (H) Making claim payments to policyholders or beneficiaries not accompanied by a statement setting forth the coverage under which payments are being made; (I) Delaying the investigation or payment of claims by requiring an insured or claimant, or the physician of either, to submit a preliminary claim report and then requiring the subsequent submission of formal proof of loss forms, both of which submissions contain substantially the same information; (J) Failing to promptly provide a reasonable explanation of the basis in the insurance policy in relation to the facts of applicable law for denial of a claim or for the offer of a compromise settlement; (K) Compelling insureds to institute litigation to recover amounts due under an insurance policy by offering substantially less than the amounts ultimately recovered in actions brought by those insureds; (L) Attempting to settle a claim for less than the amount to which a reasonable person would have believed he or she was entitled by reference to written or printed advertising material accompanying or made part of an application; (M) Making known to insureds or claimants a policy of appealing from arbitration awards in favor of insureds or claimants for the purpose of compelling them to accept settlements or compromises less than the amount awarded in arbitration; (N) Failing to promptly settle claims, when liability has become reasonably clear, under one (1) portion of the insurance policy coverage in order to influence settlements under other portions of the insurance policy coverage; and (O) Requiring as a condition of payment of a claim that repairs must be made by a particular contractor, supplier, or repair shop;

(A) Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue;

(B) Failing to acknowledge and act reasonably and promptly upon communications with respect to claims arising under insurance policies;

(C) Failing to adopt and implement reasonable standards for the prompt investigation of claims arising under insurance policies;

(D) Refusing to pay claims without conducting a reasonable investigation based upon all available information;

(E) Failing to affirm or deny coverage of claims within a reasonable time after proof of loss statements have been completed;

(F) Not attempting in good faith to effectuate prompt, fair, and equitable settlements of claims in which liability has become reasonably clear;

(G) Attempting to settle claims on the basis of an application that was altered without notice to, or knowledge or consent of, the insured;

(H) Making claim payments to policyholders or beneficiaries not accompanied by a statement setting forth the coverage under which payments are being made;

(I) Delaying the investigation or payment of claims by requiring an insured or claimant, or the physician of either, to submit a preliminary claim report and then requiring the subsequent submission of formal proof of loss forms, both of which submissions contain substantially the same information;

(J) Failing to promptly provide a reasonable explanation of the basis in the insurance policy in relation to the facts of applicable law for denial of a claim or for the offer of a compromise settlement;

(K) Compelling insureds to institute litigation to recover amounts due under an insurance policy by offering substantially less than the amounts ultimately recovered in actions brought by those insureds;

(L) Attempting to settle a claim for less than the amount to which a reasonable person would have believed he or she was entitled by reference to written or printed advertising material accompanying or made part of an application;

(M) Making known to insureds or claimants a policy of appealing from arbitration awards in favor of insureds or claimants for the purpose of compelling them to accept settlements or compromises less than the amount awarded in arbitration;

(N) Failing to promptly settle claims, when liability has become reasonably clear, under one (1) portion of the insurance policy coverage in order to influence settlements under other portions of the insurance policy coverage; and

(O) Requiring as a condition of payment of a claim that repairs must be made by a particular contractor, supplier, or repair shop;

(13) "Unfair discrimination" means: (A) Making or permitting any unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for any contract of life insurance or of life annuity or in the dividends or other benefits payable under the contract of life insurance or of life annuity, or in any other of the terms and conditions of such a contract; (B) Making or permitting any unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium policy fees or rates charged for any policy or contract of accident and health insurance, or in the benefits payable under the policy or contract of accident and health insurance, or in any of the terms or conditions of the contract, or in any other manner whatever; (C) Making or permitting any unfair discrimination between individuals or risks of the same class and of essentially the same hazards by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a property or casualty risk because of the geographic location of the risk unless: (i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or (ii) The refusal, cancellation, or limitation is required by law or regulatory mandate; (D) Making or permitting any unfair discrimination between individuals or risks of the same class and of essentially the same hazards by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a residential property risk or on the personal property contained in the residential property because of the age of the residential property unless: (i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or (ii) The refusal, cancellation, or limitation is required by law or regulatory mandate; (E) Refusing to insure, refusing to continue to insure, or limiting the amount of coverage available to an individual because of the marital status of the individual. However, nothing in this subdivision (13)(E) shall prohibit an insurer from taking marital status into account for the purpose of defining persons eligible for dependent benefits; (F) Terminating or modifying coverage or refusing to issue or refusing to renew any policy or contract of insurance solely because the applicant or insured or any employee of either is mentally or physically impaired. However, this subdivision (13)(F) shall not be interpreted to modify any other provision of law relating to the termination, modification, issuance, or renewal of any insurance policy or contract; (G) (i) Refusing to insure or continue to insure an individual or risks solely because of the individual's race, color, creed, national origin, citizenship, status as a victim of domestic abuse, or sex. (ii) As used in subdivision (13)(G)(i) of this section, "domestic abuse" means: (a) Physical harm, bodily injury, or assault between family or household members; (b) The infliction of fear of imminent physical harm, bodily injury, or assault between family members or household members; or (c) Sexual conduct between family or household members, whether minors or adults, that constitutes a crime under the laws of this state; and (H) (i) (a) Refusing to insure, or refusing to continue to insure, or limiting the amount, extent, or kind of coverage available for life insurance to an individual, or charging an individual a different rate for the same coverage, solely because of the individual's status as a living organ donor. (b) With respect to other conditions, a person who is a living organ donor shall be subject to the same standards of sound actuarial principles as a person who is not a living organ donor. (ii) As used in this subdivision (13)(H), "living organ donor" means a person who is a registered organ donor;

(A) Making or permitting any unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for any contract of life insurance or of life annuity or in the dividends or other benefits payable under the contract of life insurance or of life annuity, or in any other of the terms and conditions of such a contract;

(B) Making or permitting any unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium policy fees or rates charged for any policy or contract of accident and health insurance, or in the benefits payable under the policy or contract of accident and health insurance, or in any of the terms or conditions of the contract, or in any other manner whatever;

(C) Making or permitting any unfair discrimination between individuals or risks of the same class and of essentially the same hazards by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a property or casualty risk because of the geographic location of the risk unless: (i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or (ii) The refusal, cancellation, or limitation is required by law or regulatory mandate;

(i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or

(ii) The refusal, cancellation, or limitation is required by law or regulatory mandate;

(D) Making or permitting any unfair discrimination between individuals or risks of the same class and of essentially the same hazards by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a residential property risk or on the personal property contained in the residential property because of the age of the residential property unless: (i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or (ii) The refusal, cancellation, or limitation is required by law or regulatory mandate;

(i) The refusal, cancellation, or limitation is for a business purpose that is not a mere pretext for unfair discrimination; or

(ii) The refusal, cancellation, or limitation is required by law or regulatory mandate;

(E) Refusing to insure, refusing to continue to insure, or limiting the amount of coverage available to an individual because of the marital status of the individual. However, nothing in this subdivision (13)(E) shall prohibit an insurer from taking marital status into account for the purpose of defining persons eligible for dependent benefits;

(F) Terminating or modifying coverage or refusing to issue or refusing to renew any policy or contract of insurance solely because the applicant or insured or any employee of either is mentally or physically impaired. However, this subdivision (13)(F) shall not be interpreted to modify any other provision of law relating to the termination, modification, issuance, or renewal of any insurance policy or contract;

(G) (i) Refusing to insure or continue to insure an individual or risks solely because of the individual's race, color, creed, national origin, citizenship, status as a victim of domestic abuse, or sex. (ii) As used in subdivision (13)(G)(i) of this section, "domestic abuse" means: (a) Physical harm, bodily injury, or assault between family or household members; (b) The infliction of fear of imminent physical harm, bodily injury, or assault between family members or household members; or (c) Sexual conduct between family or household members, whether minors or adults, that constitutes a crime under the laws of this state; and

(i) Refusing to insure or continue to insure an individual or risks solely because of the individual's race, color, creed, national origin, citizenship, status as a victim of domestic abuse, or sex.

(ii) As used in subdivision (13)(G)(i) of this section, "domestic abuse" means: (a) Physical harm, bodily injury, or assault between family or household members; (b) The infliction of fear of imminent physical harm, bodily injury, or assault between family members or household members; or (c) Sexual conduct between family or household members, whether minors or adults, that constitutes a crime under the laws of this state; and

(a) Physical harm, bodily injury, or assault between family or household members;

(b) The infliction of fear of imminent physical harm, bodily injury, or assault between family members or household members; or

(c) Sexual conduct between family or household members, whether minors or adults, that constitutes a crime under the laws of this state; and

(H) (i) (a) Refusing to insure, or refusing to continue to insure, or limiting the amount, extent, or kind of coverage available for life insurance to an individual, or charging an individual a different rate for the same coverage, solely because of the individual's status as a living organ donor. (b) With respect to other conditions, a person who is a living organ donor shall be subject to the same standards of sound actuarial principles as a person who is not a living organ donor. (ii) As used in this subdivision (13)(H), "living organ donor" means a person who is a registered organ donor;

(i) (a) Refusing to insure, or refusing to continue to insure, or limiting the amount, extent, or kind of coverage available for life insurance to an individual, or charging an individual a different rate for the same coverage, solely because of the individual's status as a living organ donor. (b) With respect to other conditions, a person who is a living organ donor shall be subject to the same standards of sound actuarial principles as a person who is not a living organ donor.

(a) Refusing to insure, or refusing to continue to insure, or limiting the amount, extent, or kind of coverage available for life insurance to an individual, or charging an individual a different rate for the same coverage, solely because of the individual's status as a living organ donor.

(b) With respect to other conditions, a person who is a living organ donor shall be subject to the same standards of sound actuarial principles as a person who is not a living organ donor.

(ii) As used in this subdivision (13)(H), "living organ donor" means a person who is a registered organ donor;

(14) (A) "Unfair financial planning practices" includes an insurance producer: (i) (a) Holding himself or herself out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, or any other specialist engaged in the business of giving financial planning or advice relating to investments, insurance, real estate, tax matters, or trust and estate matters, if the insurance producer is, in fact, engaged only in the sale of policies. (b) However, subdivision (14)(A)(i) (a) of this section does not preclude a person who holds some form of formal recognized financial planning or consultant certification or designation from using the certification or designation when the person is only selling insurance. (c) Subdivision (14)(A)(i) (a) of this section does not permit persons to charge an additional fee for services that are customarily associated with the solicitation, negotiation, or servicing of policies; (ii) (a) Engaging in the business of financial planning without disclosing in writing to the client, prior to the execution of the agreement provided for in subdivision (14)(A)(iii) of this section, or solicitation of the sale of a product or service that: (1) He or she is also an insurance salesperson; and (2) A commission for the sale of an insurance product will be received in addition to a fee for financial planning, if the sale involves a commission. (b) The disclosure requirement under this subdivision (14)(A)(ii) may be met by including it in any written disclosure required by federal or state securities law; and (iii) (a) (1) Charging fees other than commissions for financial planning by an insurance producer unless the fees are based upon a written agreement that is signed by the party to be charged in advance of the performance of the services under the agreement. (2) A copy of the agreement under subdivision (14)(A)(iii) (a)(1) of this section must be provided to the party to be charged at the time the agreement is signed by the party. (3) The services for which the fee is to be charged must be specifically stated in the agreement. (4) The amount of the fee to be charged or how it will be determined or calculated must be specifically stated in the agreement. (5) The agreement must state that the client is under no obligation to purchase any insurance product through the insurance producer or financial consultant. (b) The insurance producer shall retain a copy of the agreement for not less than three (3) years after completion of services, and a copy shall be available to the commissioner upon request. (B) "Unfair financial planning practices" does not include funeral expense insurance and prepaid funeral benefits contracts; and

(A) "Unfair financial planning practices" includes an insurance producer: (i) (a) Holding himself or herself out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, or any other specialist engaged in the business of giving financial planning or advice relating to investments, insurance, real estate, tax matters, or trust and estate matters, if the insurance producer is, in fact, engaged only in the sale of policies. (b) However, subdivision (14)(A)(i) (a) of this section does not preclude a person who holds some form of formal recognized financial planning or consultant certification or designation from using the certification or designation when the person is only selling insurance. (c) Subdivision (14)(A)(i) (a) of this section does not permit persons to charge an additional fee for services that are customarily associated with the solicitation, negotiation, or servicing of policies; (ii) (a) Engaging in the business of financial planning without disclosing in writing to the client, prior to the execution of the agreement provided for in subdivision (14)(A)(iii) of this section, or solicitation of the sale of a product or service that: (1) He or she is also an insurance salesperson; and (2) A commission for the sale of an insurance product will be received in addition to a fee for financial planning, if the sale involves a commission. (b) The disclosure requirement under this subdivision (14)(A)(ii) may be met by including it in any written disclosure required by federal or state securities law; and (iii) (a) (1) Charging fees other than commissions for financial planning by an insurance producer unless the fees are based upon a written agreement that is signed by the party to be charged in advance of the performance of the services under the agreement. (2) A copy of the agreement under subdivision (14)(A)(iii) (a)(1) of this section must be provided to the party to be charged at the time the agreement is signed by the party. (3) The services for which the fee is to be charged must be specifically stated in the agreement. (4) The amount of the fee to be charged or how it will be determined or calculated must be specifically stated in the agreement. (5) The agreement must state that the client is under no obligation to purchase any insurance product through the insurance producer or financial consultant. (b) The insurance producer shall retain a copy of the agreement for not less than three (3) years after completion of services, and a copy shall be available to the commissioner upon request.

(i) (a) Holding himself or herself out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, or any other specialist engaged in the business of giving financial planning or advice relating to investments, insurance, real estate, tax matters, or trust and estate matters, if the insurance producer is, in fact, engaged only in the sale of policies. (b) However, subdivision (14)(A)(i) (a) of this section does not preclude a person who holds some form of formal recognized financial planning or consultant certification or designation from using the certification or designation when the person is only selling insurance. (c) Subdivision (14)(A)(i) (a) of this section does not permit persons to charge an additional fee for services that are customarily associated with the solicitation, negotiation, or servicing of policies;

(a) Holding himself or herself out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, or any other specialist engaged in the business of giving financial planning or advice relating to investments, insurance, real estate, tax matters, or trust and estate matters, if the insurance producer is, in fact, engaged only in the sale of policies.

(b) However, subdivision (14)(A)(i) (a) of this section does not preclude a person who holds some form of formal recognized financial planning or consultant certification or designation from using the certification or designation when the person is only selling insurance.

(c) Subdivision (14)(A)(i) (a) of this section does not permit persons to charge an additional fee for services that are customarily associated with the solicitation, negotiation, or servicing of policies;

(ii) (a) Engaging in the business of financial planning without disclosing in writing to the client, prior to the execution of the agreement provided for in subdivision (14)(A)(iii) of this section, or solicitation of the sale of a product or service that: (1) He or she is also an insurance salesperson; and (2) A commission for the sale of an insurance product will be received in addition to a fee for financial planning, if the sale involves a commission. (b) The disclosure requirement under this subdivision (14)(A)(ii) may be met by including it in any written disclosure required by federal or state securities law; and

(a) Engaging in the business of financial planning without disclosing in writing to the client, prior to the execution of the agreement provided for in subdivision (14)(A)(iii) of this section, or solicitation of the sale of a product or service that: (1) He or she is also an insurance salesperson; and (2) A commission for the sale of an insurance product will be received in addition to a fee for financial planning, if the sale involves a commission.

(1) He or she is also an insurance salesperson; and

(2) A commission for the sale of an insurance product will be received in addition to a fee for financial planning, if the sale involves a commission.

(b) The disclosure requirement under this subdivision (14)(A)(ii) may be met by including it in any written disclosure required by federal or state securities law; and

(iii) (a) (1) Charging fees other than commissions for financial planning by an insurance producer unless the fees are based upon a written agreement that is signed by the party to be charged in advance of the performance of the services under the agreement. (2) A copy of the agreement under subdivision (14)(A)(iii) (a)(1) of this section must be provided to the party to be charged at the time the agreement is signed by the party. (3) The services for which the fee is to be charged must be specifically stated in the agreement. (4) The amount of the fee to be charged or how it will be determined or calculated must be specifically stated in the agreement. (5) The agreement must state that the client is under no obligation to purchase any insurance product through the insurance producer or financial consultant. (b) The insurance producer shall retain a copy of the agreement for not less than three (3) years after completion of services, and a copy shall be available to the commissioner upon request.

(a) (1) Charging fees other than commissions for financial planning by an insurance producer unless the fees are based upon a written agreement that is signed by the party to be charged in advance of the performance of the services under the agreement. (2) A copy of the agreement under subdivision (14)(A)(iii) (a)(1) of this section must be provided to the party to be charged at the time the agreement is signed by the party. (3) The services for which the fee is to be charged must be specifically stated in the agreement. (4) The amount of the fee to be charged or how it will be determined or calculated must be specifically stated in the agreement. (5) The agreement must state that the client is under no obligation to purchase any insurance product through the insurance producer or financial consultant.

(1) Charging fees other than commissions for financial planning by an insurance producer unless the fees are based upon a written agreement that is signed by the party to be charged in advance of the performance of the services under the agreement.

(2) A copy of the agreement under subdivision (14)(A)(iii) (a)(1) of this section must be provided to the party to be charged at the time the agreement is signed by the party.

(3) The services for which the fee is to be charged must be specifically stated in the agreement.

(4) The amount of the fee to be charged or how it will be determined or calculated must be specifically stated in the agreement.

(5) The agreement must state that the client is under no obligation to purchase any insurance product through the insurance producer or financial consultant.

(b) The insurance producer shall retain a copy of the agreement for not less than three (3) years after completion of services, and a copy shall be available to the commissioner upon request.

(B) "Unfair financial planning practices" does not include funeral expense insurance and prepaid funeral benefits contracts; and

(15) (A) "Unfair property or casualty policy cancellation" means: (i) After a policy on a property or casualty risk has been in force for more than sixty (60) days or after the effective date of a renewal of the policy, insurance coverage is terminated: (a) Before the expiration date of the policy for a reason other than provided under subdivision (15)(B) of this section; or (b) Without providing effective notice as described in subdivision (15)(C) of this section; and (ii) (a) For a policy in force for sixty (60) days or less, an insurer has terminated the policy without mailing or delivering notice of cancellation to the named insured or to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation. (b) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason shall be given. (B) "Unfair property or casualty policy cancellation" does not include an insurer's cancellation of a policy that has been in force for more than sixty (60) days or after the effective date of a renewal of the policy as long as the insurer provides effective notice and terminates the policy for one (1) of the following reasons: (i) Nonpayment of premium; (ii) Fraud or material misrepresentation made by or with the knowledge of the named insured in obtaining the policy, continuing the policy, or presenting a claim under the policy; (iii) The occurrence of a material change in the risk that substantially increases any hazard insured against after policy issuance; (iv) Violation of any local fire, health, safety, building, or construction regulation or ordinance with respect to any insured property or the occupancy of the property that substantially increases any hazard insured against under the policy; (v) Nonpayment of membership dues in those cases in which the bylaws, agreements, or other legal instruments of the insurer issuing the policy require payment as a condition of the issuance and maintenance of the policy; or (vi) A material violation of a material provision of the policy. (C) (i) Cancellations of property and casualty policies in force for more than sixty (60) days or after the effective date of a renewal of the policy shall only be effective when notice of cancellation is mailed or delivered by the insurer to the named insured and to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation. (ii) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason for cancellation shall be given. (D) This subdivision (15) is not applicable to any policy providing coverage for workers' compensation or employers' liability or to any policy providing coverage for personal automobile liability, automobile physical damage, or automobile collision, or any combination of coverage for personal automobile liability, automobile physical damage, or automobile collision.

(A) "Unfair property or casualty policy cancellation" means: (i) After a policy on a property or casualty risk has been in force for more than sixty (60) days or after the effective date of a renewal of the policy, insurance coverage is terminated: (a) Before the expiration date of the policy for a reason other than provided under subdivision (15)(B) of this section; or (b) Without providing effective notice as described in subdivision (15)(C) of this section; and (ii) (a) For a policy in force for sixty (60) days or less, an insurer has terminated the policy without mailing or delivering notice of cancellation to the named insured or to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation. (b) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason shall be given.

(i) After a policy on a property or casualty risk has been in force for more than sixty (60) days or after the effective date of a renewal of the policy, insurance coverage is terminated: (a) Before the expiration date of the policy for a reason other than provided under subdivision (15)(B) of this section; or (b) Without providing effective notice as described in subdivision (15)(C) of this section; and

(a) Before the expiration date of the policy for a reason other than provided under subdivision (15)(B) of this section; or

(b) Without providing effective notice as described in subdivision (15)(C) of this section; and

(ii) (a) For a policy in force for sixty (60) days or less, an insurer has terminated the policy without mailing or delivering notice of cancellation to the named insured or to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation. (b) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason shall be given.

(a) For a policy in force for sixty (60) days or less, an insurer has terminated the policy without mailing or delivering notice of cancellation to the named insured or to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation.

(b) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason shall be given.

(B) "Unfair property or casualty policy cancellation" does not include an insurer's cancellation of a policy that has been in force for more than sixty (60) days or after the effective date of a renewal of the policy as long as the insurer provides effective notice and terminates the policy for one (1) of the following reasons: (i) Nonpayment of premium; (ii) Fraud or material misrepresentation made by or with the knowledge of the named insured in obtaining the policy, continuing the policy, or presenting a claim under the policy; (iii) The occurrence of a material change in the risk that substantially increases any hazard insured against after policy issuance; (iv) Violation of any local fire, health, safety, building, or construction regulation or ordinance with respect to any insured property or the occupancy of the property that substantially increases any hazard insured against under the policy; (v) Nonpayment of membership dues in those cases in which the bylaws, agreements, or other legal instruments of the insurer issuing the policy require payment as a condition of the issuance and maintenance of the policy; or (vi) A material violation of a material provision of the policy.

(i) Nonpayment of premium;

(ii) Fraud or material misrepresentation made by or with the knowledge of the named insured in obtaining the policy, continuing the policy, or presenting a claim under the policy;

(iii) The occurrence of a material change in the risk that substantially increases any hazard insured against after policy issuance;

(iv) Violation of any local fire, health, safety, building, or construction regulation or ordinance with respect to any insured property or the occupancy of the property that substantially increases any hazard insured against under the policy;

(v) Nonpayment of membership dues in those cases in which the bylaws, agreements, or other legal instruments of the insurer issuing the policy require payment as a condition of the issuance and maintenance of the policy; or

(vi) A material violation of a material provision of the policy.

(C) (i) Cancellations of property and casualty policies in force for more than sixty (60) days or after the effective date of a renewal of the policy shall only be effective when notice of cancellation is mailed or delivered by the insurer to the named insured and to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation. (ii) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason for cancellation shall be given.

(i) Cancellations of property and casualty policies in force for more than sixty (60) days or after the effective date of a renewal of the policy shall only be effective when notice of cancellation is mailed or delivered by the insurer to the named insured and to any lienholder or loss payee named in the policy at least twenty (20) days before the effective date of cancellation.

(ii) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason for cancellation shall be given.

(D) This subdivision (15) is not applicable to any policy providing coverage for workers' compensation or employers' liability or to any policy providing coverage for personal automobile liability, automobile physical damage, or automobile collision, or any combination of coverage for personal automobile liability, automobile physical damage, or automobile collision.

Amended by Act 2023, No. 523,§ 1, eff. 8/1/2023.

Amended by Act 2023, No. 337,§ 1, eff. 8/1/2023.

Amended by Act 2021, No. 994,§ 1, eff. 7/1/2022.

Amended by Act 2019, No. 315,§ 2662, eff. 7/24/2019.

Amended by Act 2019, No. 696,§ 2, eff. 7/24/2019.

Amended by Act 2019, No. 244,§ 1, eff. 7/24/2019.

Acts 1959, No. 148, § 212; 1963, No. 75, § 1; 1973, No. 41, § 2; 1975, No. 729, § 5; 1981, No. 809, §§ 6-9; A.S.A. 1947, § 66-3005; Acts 1987, No. 156, §§ 1, 2; 1987, No. 959, § 20; 1993, No. 1145, § 1; 1995, No. 178, § 1; 1997, No. 1000, § 4; 1999, No. 381, § 1; 2001, No. 1603, §§ 24, 25; 2003, No. 1747, §§ 2, 3; 2009, No. 619, § 1; 2011, No. 797, § 1.
Ark. Code Ann. § 23-86-208 — AR Code / Title 23 / Chapter 86 / Subchapter 2 / Section 23-86-208
Discretion of commissioner
Status: in_force

The Insurance Commissioner may suspend all or any part of § 23-86-204 as to the premium rates applicable to one (1) or more small employers for one (1) or more rating periods upon a filing by the small employer carrier and a finding by the commissioner that either the suspension is reasonable in light of the financial condition of the carrier or that the suspension would enhance the efficiency and fairness of the marketplace for small employer health insurance. Acts 1991, No. 1143, § 2; 1997, No. 1000, § 22.

The Insurance Commissioner may suspend all or any part of § 23-86-204 as to the premium rates applicable to one (1) or more small employers for one (1) or more rating periods upon a filing by the small employer carrier and a finding by the commissioner that either the suspension is reasonable in light of the financial condition of the carrier or that the suspension would enhance the efficiency and fairness of the marketplace for small employer health insurance.

Acts 1991, No. 1143, § 2; 1997, No. 1000, § 22.
Ark. Code Ann. § 23-2-102 — AR Code / Title 23 / Chapter 2 / Subchapter 1 / Section 23-2-102
Special commissioners
Status: in_force

(a) When any member of the Arkansas Public Service Commission is disqualified for any reason to hear and participate in the determination of any matter pending before the commission, the Governor shall appoint a qualified person to hear and participate in the decision on the particular matter. (b) The special member so appointed shall have all authority and responsibility with respect to the particular matter before the commission as if the person were a regular member of the commission, but he or she shall have no authority or responsibility with respect to any other matter before the commission. (c) A person appointed as a special member of the commission pursuant to the provisions of this section shall be entitled to receive per diem not to exceed one hundred dollars ($100) for each day spent in attending to his or her duties as a special member of the commission. This compensation shall be paid from any funds of the commission which are available for or may legally be used for paying the per diem. Acts 1979, No. 64, §§ 1, 2; A.S.A. 1947, §§ 73-101.1, 73-101.2.

(a) When any member of the Arkansas Public Service Commission is disqualified for any reason to hear and participate in the determination of any matter pending before the commission, the Governor shall appoint a qualified person to hear and participate in the decision on the particular matter.

(b) The special member so appointed shall have all authority and responsibility with respect to the particular matter before the commission as if the person were a regular member of the commission, but he or she shall have no authority or responsibility with respect to any other matter before the commission.

(c) A person appointed as a special member of the commission pursuant to the provisions of this section shall be entitled to receive per diem not to exceed one hundred dollars ($100) for each day spent in attending to his or her duties as a special member of the commission. This compensation shall be paid from any funds of the commission which are available for or may legally be used for paying the per diem.

Acts 1979, No. 64, §§ 1, 2; A.S.A. 1947, §§ 73-101.1, 73-101.2.
Ark. Code Ann. § 23-47-303 — AR Code / Title 23 / Chapter 47 / Subchapter 3 / Section 23-47-303
Forms
Status: in_force

A contract of deposit that substantially contains the following form establishes an agency account, and the account is governed by the provisions of this subchapter applicable to agency accounts: Click here to view form. Acts 1997, No. 89, § 1.

A contract of deposit that substantially contains the following form establishes an agency account, and the account is governed by the provisions of this subchapter applicable to agency accounts:

Click here to view form.

Acts 1997, No. 89, § 1.

47_303_1 - Attachment
Ark. Code Ann. § 23-4-507 — AR Code / Title 23 / Chapter 4 / Subchapter 5 / Section 23-4-507
Modification or disapproval of surcharge
Status: in_force

(a) After its investigation and hearing thereon, the Arkansas Public Service Commission may modify or disapprove all or any portion of the surcharge upon a finding that: (1) The investments or expenses were not reasonably incurred to comply with legislative or administrative rules or requirements; (2) The investments or expenses do not relate to the protection of the public health, safety, or the environment; (3) The investments or expenses were not substantiated; (4) The amount of the surcharge has been erroneously calculated; (5) The investments or expenses are already being recovered in existing rates; (6) The investments or expenses were reasonably known and measurable at a time that allowed for a reasonable opportunity for their inclusion and consideration for recovery in the public utility's last general rate case; (7) The investments or expenses were not reasonably incurred; (8) The investments or expenses can otherwise be recovered in a prompt and timely manner; (9) The allocation of the surcharge among the customers of the public utility is unreasonable; or (10) The investments or expenses were not: (A) Mandatory; (B) A condition of continued operation of a utility facility; or (C) Previously approved by the commission. (b) (1) If the commission determines that the allocation of the surcharge among the customers of the utility should be modified, it shall fix and determine the appropriate allocation among the utility's customers which shall be applied prospectively. (2) The commission shall further direct the utility to credit or charge, as the case may be, the affected classes of customers whose surcharges were determined to be improperly allocated for the period between the effective date of the surcharge and the effective date of the modification. As to those classes of customers entitled to credits, the utility also shall pay interest on those credits, as applicable. (c) If the commission determines that all or any portion of the proposed surcharge should be disapproved under subsection (a) of this section, the commission shall determine the just and reasonable amount of the surcharge to be charged or applied by the public utility after the time the proposed surcharge took effect. In the same order, the commission shall fix the amounts, plus interest, if any, to be refunded to the utility's customers. Amended by Act 2019, No. 315,§ 2395, eff. 7/24/2019. Amended by Act 2015, No. 1000,§ 6, eff. 4/2/2015. Amended by Act 2015, No. 1000,§ 5, eff. 4/2/2015. Acts 1981, No. 310, § 2; 1983, No. 262, § 1; A.S.A. 1947, § 73-217.2.

(a) After its investigation and hearing thereon, the Arkansas Public Service Commission may modify or disapprove all or any portion of the surcharge upon a finding that: (1) The investments or expenses were not reasonably incurred to comply with legislative or administrative rules or requirements; (2) The investments or expenses do not relate to the protection of the public health, safety, or the environment; (3) The investments or expenses were not substantiated; (4) The amount of the surcharge has been erroneously calculated; (5) The investments or expenses are already being recovered in existing rates; (6) The investments or expenses were reasonably known and measurable at a time that allowed for a reasonable opportunity for their inclusion and consideration for recovery in the public utility's last general rate case; (7) The investments or expenses were not reasonably incurred; (8) The investments or expenses can otherwise be recovered in a prompt and timely manner; (9) The allocation of the surcharge among the customers of the public utility is unreasonable; or (10) The investments or expenses were not: (A) Mandatory; (B) A condition of continued operation of a utility facility; or (C) Previously approved by the commission.

(1) The investments or expenses were not reasonably incurred to comply with legislative or administrative rules or requirements;

(2) The investments or expenses do not relate to the protection of the public health, safety, or the environment;

(3) The investments or expenses were not substantiated;

(4) The amount of the surcharge has been erroneously calculated;

(5) The investments or expenses are already being recovered in existing rates;

(6) The investments or expenses were reasonably known and measurable at a time that allowed for a reasonable opportunity for their inclusion and consideration for recovery in the public utility's last general rate case;

(7) The investments or expenses were not reasonably incurred;

(8) The investments or expenses can otherwise be recovered in a prompt and timely manner;

(9) The allocation of the surcharge among the customers of the public utility is unreasonable; or

(10) The investments or expenses were not: (A) Mandatory; (B) A condition of continued operation of a utility facility; or (C) Previously approved by the commission.

(A) Mandatory;

(B) A condition of continued operation of a utility facility; or

(C) Previously approved by the commission.

(b) (1) If the commission determines that the allocation of the surcharge among the customers of the utility should be modified, it shall fix and determine the appropriate allocation among the utility's customers which shall be applied prospectively. (2) The commission shall further direct the utility to credit or charge, as the case may be, the affected classes of customers whose surcharges were determined to be improperly allocated for the period between the effective date of the surcharge and the effective date of the modification. As to those classes of customers entitled to credits, the utility also shall pay interest on those credits, as applicable.

(1) If the commission determines that the allocation of the surcharge among the customers of the utility should be modified, it shall fix and determine the appropriate allocation among the utility's customers which shall be applied prospectively.

(2) The commission shall further direct the utility to credit or charge, as the case may be, the affected classes of customers whose surcharges were determined to be improperly allocated for the period between the effective date of the surcharge and the effective date of the modification. As to those classes of customers entitled to credits, the utility also shall pay interest on those credits, as applicable.

(c) If the commission determines that all or any portion of the proposed surcharge should be disapproved under subsection (a) of this section, the commission shall determine the just and reasonable amount of the surcharge to be charged or applied by the public utility after the time the proposed surcharge took effect. In the same order, the commission shall fix the amounts, plus interest, if any, to be refunded to the utility's customers.

Amended by Act 2019, No. 315,§ 2395, eff. 7/24/2019.

Amended by Act 2015, No. 1000,§ 6, eff. 4/2/2015.

Amended by Act 2015, No. 1000,§ 5, eff. 4/2/2015.

Acts 1981, No. 310, § 2; 1983, No. 262, § 1; A.S.A. 1947, § 73-217.2.
Ark. Code Ann. § 23-18-302 — AR Code / Title 23 / Chapter 18 / Subchapter 3 / Section 23-18-302
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Acquire" means and includes to construct or acquire by purchase, lease, devise, gift, or other mode of acquisition; (2) "Board" means a board of directors of a corporation organized under this subchapter; (3) "Corporation" means a corporation organized pursuant to the provisions of this subchapter; (4) "Federal agency" includes the United States and any department, administration, commission, board, bureau, office, establishment, agency, authority, or instrumentality of the United States; (5) "Member" means the incorporators of a corporation and each person thereafter lawfully admitted to membership therein; (6) "Obligations" includes bonds, notes, debentures, interim certificates or receipts, and all other evidences of indebtedness issued by a corporation; and (7) "Person" includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision thereof, or any body politic. Acts 1937, No. 342, § 2; Pope's Dig., § 2316; Acts 1955, No. 85, § 1; 1957, No. 103, § 1; A.S.A. 1947, § 77-1102; Acts 1999, No. 1556, § 11.

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

(1) "Acquire" means and includes to construct or acquire by purchase, lease, devise, gift, or other mode of acquisition;

(2) "Board" means a board of directors of a corporation organized under this subchapter;

(3) "Corporation" means a corporation organized pursuant to the provisions of this subchapter;

(4) "Federal agency" includes the United States and any department, administration, commission, board, bureau, office, establishment, agency, authority, or instrumentality of the United States;

(5) "Member" means the incorporators of a corporation and each person thereafter lawfully admitted to membership therein;

(6) "Obligations" includes bonds, notes, debentures, interim certificates or receipts, and all other evidences of indebtedness issued by a corporation; and

(7) "Person" includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision thereof, or any body politic.

Acts 1937, No. 342, § 2; Pope's Dig., § 2316; Acts 1955, No. 85, § 1; 1957, No. 103, § 1; A.S.A. 1947, § 77-1102; Acts 1999, No. 1556, § 11.
Ark. Code Ann. § 23-17-503 — AR Code / Title 23 / Chapter 17 / Subchapter 5 / Section 23-17-503
Definitions
Status: in_force

As used in this subchapter: (1) "Affiliate" means an entity that directly or indirectly controls, is controlled by, or is under common control with another party; (2) "Antenna" means communications equipment that transmits or receives an electromagnetic radio frequency signal in the provision of wireless service; (3) (A) "Antenna equipment" means equipment, switches, wiring, cabling, power sources, shelters, or cabinets associated with an antenna, located at the same fixed location as the antenna, and when collocated on a structure is mounted or installed at the same time as the antenna. (B) "Antenna equipment" does not include: (i) The structure or improvements on, under, or within which the equipment is collocated; or (ii) Wireline backhaul facilities, coaxial or fiber optic cable that is between structures, or coaxial or fiber optic cable that is otherwise not immediately adjacent to or directly associated with an antenna; (4) "Antenna facility" means an antenna and associated antenna equipment; (5) "Applicable codes" means uniform electrical reliability, building, fire, electrical, plumbing, or mechanical codes, as adopted by a recognized national code organization, or local amendments to the codes that are of general application, or local ordinances that are of general application, that address public health, safety, or welfare and are consistent with this subchapter; (6) "Applicant" means a person who submits an application as or on behalf of a wireless provider; (7) "Application" means a request submitted by an applicant to an authority for a permit: (A) To collocate small wireless facilities; or (B) To install, modify, or replace a pole on which a small wireless facility is or will be collocated in the right-of-way; (8) (A) "Authority" means a county, a municipality, a subdivision, or instrumentality thereof, including without limitation: (i) A public utility district; (ii) An irrigation district; or (iii) A municipal electric utility. (B) "Authority" does not include a state court having jurisdiction over an authority; (9) "Authority pole" means a pole owned, managed, or operated by or on behalf of an authority; (10) (A) "Collocate" or "collocate on" means the placement, mounting, replacement, or modification of a small wireless facility on, or of ground-mounted antenna equipment adjacent to, a structure. (B) "Collocate" or "collocate on" includes collocated ground-mounted antenna equipment as a small wireless facility if it meets the requirements of subdivision (25)(A)(iii)-(vi) of this section and the associated facilities on the adjacent structure meet the requirements of subdivision (25)(A)(i)-(vi) of this section; (11) "Communications service" means: (A) A cable service, as defined in 47 U.S.C. § 522(6) , as it existed on January 1, 2019; (B) A telecommunications service, as defined in 47 U.S.C. § 153(53) , as it existed on January 1, 2019; (C) An information service, as defined in 47 U.S.C. § 153(24) , as it existed on January 1, 2019; or (D) Wireless service; (12) "Communications service provider" means: (A) A cable operator, as defined in 47 U.S.C. § 522(5) , as it existed on January 1, 2019; (B) A provider of information service, as defined in 47 U.S.C. § 153(24) , as it existed on January 1, 2019; (C) A telecommunications carrier, as defined in 47 U.S.C. § 153(51) ; or (D) A wireless provider; (13) "Control" means the direct or indirect: (A) Ownership of at least fifty percent (50%) of the equity; (B) Ability to direct at least fifty percent (50%) of voting power; or (C) Ability otherwise to direct management policies; (14) "Controlled-access facility" means a highway or street as described in § 27-68-102 ; (15) "Decorative pole" means an authority pole that is specifically designed and placed for aesthetic purposes and on which limited appurtenances or attachments, such as a small wireless facility, lighting, specially designed informational or directional signage, or temporary holiday or special event attachments, have been placed or are permitted to be placed according to nondiscriminatory authority rules or codes; (16) "Facility" means an antenna facility or a structure that is used for the provision of wireless service; (17) "Fee" means a onetime, nonrecurring charge; (18) "Historic district" means a group of buildings, properties, or sites that are: (A) Listed in the National Register of Historic Places or formally determined eligible for listing by the Keeper of the National Register of Historic Places, according to Section VI.D.1.a.i-v of the Nationwide Programmatic Agreement Regarding the Section 106 National Historic Preservation Act Review Process, 47 C.F.R. Part 1, Appendix C, as it existed on January 1, 2019; (B) A historic district designated under the Historic Districts Act, § 14-172-201 et seq.; or (C) A historic district otherwise designated under a local ordinance as of January 1, 2019; (19) "Micro-wireless facility" means a wireless facility that: (A) Is not larger in dimension than twenty-four inches (24") in length, fifteen inches (15") in width, and twelve inches (12") in height; (B) Has an exterior antenna that is no longer than eleven inches (11"); and (C) Is not placed any farther than ten feet (10') down the span as measured from the side of the pole; (20) "Permit" means an authorization, written or otherwise, required by an authority to perform an action or initiate, continue, or complete a project for the deployment of wireless service at a specified location; (21) "Person" means an individual, corporation, limited liability company, partnership, association, trust, authority, or other entity or organization; (22) (A) "Pole" means a pole in a right-of-way that may be used by or for wireline communications, electric distribution, lighting, traffic control, signage, or a similar function or for collocation of small wireless facilities. (B) "Pole" does not include a wireless support structure or an electric transmission structure; (23) "Rate" means a recurring charge; (24) (A) "Right-of-way" means an area on, below, or above a public utility easement, roadway, highway, street, sidewalk, alley, or similar property. (B) "Right-of-way" does not include a federal interstate highway, controlled-access facility, or a public utility easement that does not authorize the deployment sought by the wireless provider; (25) (A) "Small wireless facility" means a wireless facility that meets all of the following specifications: (i) The facility: (a) Is mounted on a structure fifty feet (50') or less in height, including the antennas; (b) Is mounted on a structure no more than ten percent (10%) taller than other adjacent structures; or (c) Does not extend an existing structure on which it is located to a height of more than fifty feet (50') or by more than ten percent (10%), whichever is greater; (ii) Each antenna associated with the deployment, excluding associated antenna equipment, is no more than three cubic feet (3 cu. ft.) in volume; (iii) All other wireless equipment associated with the structure, including the wireless equipment associated with the antenna and any preexisting associated equipment on the structure, is no more than twenty-eight cubic feet (28 cu. ft.) in volume; (iv) The facility does not require antenna structure registration under 47 C.F.R. Part 17, as it existed on January 1, 2019; (v) The facility is not located on tribal lands, as defined in 36 C.F.R. 800.16(x) , as it existed on January 1, 2019; and (vi) The facility does not result in human exposure to radio frequencies in excess of the applicable safety standards specified in 47 C.F.R. 1.1307(b) , as it existed on January 1, 2019. (B) "Small wireless facility" does not include: (i) The structure or improvements on, under, or within which the equipment is located or collocated or to which the equipment is attached; and (ii) Any wireline backhaul facility or coaxial or fiber optic cable that is between wireless support structures or utility poles, or that is otherwise not immediately adjacent to or directly associated with a particular antenna; (26) "Structure" means a pole or wireless support structure, whether or not it has an existing antenna facility, that is used or to be used for the provision of wireless service; (27) "Technically feasible" means that by virtue of engineering or spectrum usage the proposed placement for a small wireless facility, or its design, concealment measures, or site location, can be implemented without a material reduction in the functionality of the small wireless facility; (28) "Wireless infrastructure provider" means a person or an affiliate thereof, including a person authorized to provide communications service in the state, that builds or installs facilities for the provision of wireless service, but that is not a wireless service provider; (29) "Wireless provider" means a wireless infrastructure provider or a wireless service provider; (30) "Wireless service" means any service using licensed or unlicensed spectrum, including the use of Wi-Fi, whether at a fixed location or mobile, provided to the public; (31) "Wireless service provider" means a person who provides wireless service; (32) (A) "Wireless support structure" means a structure, including: (i) A monopole; (ii) A tower, either guyed or self-supporting; (iii) A billboard; (iv) A building; or (v) Any other existing or proposed structure designed to support or that is capable of supporting small wireless facilities, other than a structure designed solely for the collocation of small wireless facilities. (B) "Wireless support structure" does not include a pole; and (33) "Wireline backhaul facility" means an aboveground or underground facility used to transport communications services from a wireless facility to a network. Added by Act 2019, No. 999,§ 1, eff. 9/1/2019. Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.

As used in this subchapter:

(1) "Affiliate" means an entity that directly or indirectly controls, is controlled by, or is under common control with another party;

(2) "Antenna" means communications equipment that transmits or receives an electromagnetic radio frequency signal in the provision of wireless service;

(3) (A) "Antenna equipment" means equipment, switches, wiring, cabling, power sources, shelters, or cabinets associated with an antenna, located at the same fixed location as the antenna, and when collocated on a structure is mounted or installed at the same time as the antenna. (B) "Antenna equipment" does not include: (i) The structure or improvements on, under, or within which the equipment is collocated; or (ii) Wireline backhaul facilities, coaxial or fiber optic cable that is between structures, or coaxial or fiber optic cable that is otherwise not immediately adjacent to or directly associated with an antenna;

(A) "Antenna equipment" means equipment, switches, wiring, cabling, power sources, shelters, or cabinets associated with an antenna, located at the same fixed location as the antenna, and when collocated on a structure is mounted or installed at the same time as the antenna.

(B) "Antenna equipment" does not include: (i) The structure or improvements on, under, or within which the equipment is collocated; or (ii) Wireline backhaul facilities, coaxial or fiber optic cable that is between structures, or coaxial or fiber optic cable that is otherwise not immediately adjacent to or directly associated with an antenna;

(i) The structure or improvements on, under, or within which the equipment is collocated; or

(ii) Wireline backhaul facilities, coaxial or fiber optic cable that is between structures, or coaxial or fiber optic cable that is otherwise not immediately adjacent to or directly associated with an antenna;

(4) "Antenna facility" means an antenna and associated antenna equipment;

(5) "Applicable codes" means uniform electrical reliability, building, fire, electrical, plumbing, or mechanical codes, as adopted by a recognized national code organization, or local amendments to the codes that are of general application, or local ordinances that are of general application, that address public health, safety, or welfare and are consistent with this subchapter;

(6) "Applicant" means a person who submits an application as or on behalf of a wireless provider;

(7) "Application" means a request submitted by an applicant to an authority for a permit: (A) To collocate small wireless facilities; or (B) To install, modify, or replace a pole on which a small wireless facility is or will be collocated in the right-of-way;

(A) To collocate small wireless facilities; or

(B) To install, modify, or replace a pole on which a small wireless facility is or will be collocated in the right-of-way;

(8) (A) "Authority" means a county, a municipality, a subdivision, or instrumentality thereof, including without limitation: (i) A public utility district; (ii) An irrigation district; or (iii) A municipal electric utility. (B) "Authority" does not include a state court having jurisdiction over an authority;

(A) "Authority" means a county, a municipality, a subdivision, or instrumentality thereof, including without limitation: (i) A public utility district; (ii) An irrigation district; or (iii) A municipal electric utility.

(i) A public utility district;

(ii) An irrigation district; or

(iii) A municipal electric utility.

(B) "Authority" does not include a state court having jurisdiction over an authority;

(9) "Authority pole" means a pole owned, managed, or operated by or on behalf of an authority;

(10) (A) "Collocate" or "collocate on" means the placement, mounting, replacement, or modification of a small wireless facility on, or of ground-mounted antenna equipment adjacent to, a structure. (B) "Collocate" or "collocate on" includes collocated ground-mounted antenna equipment as a small wireless facility if it meets the requirements of subdivision (25)(A)(iii)-(vi) of this section and the associated facilities on the adjacent structure meet the requirements of subdivision (25)(A)(i)-(vi) of this section;

(A) "Collocate" or "collocate on" means the placement, mounting, replacement, or modification of a small wireless facility on, or of ground-mounted antenna equipment adjacent to, a structure.

(B) "Collocate" or "collocate on" includes collocated ground-mounted antenna equipment as a small wireless facility if it meets the requirements of subdivision (25)(A)(iii)-(vi) of this section and the associated facilities on the adjacent structure meet the requirements of subdivision (25)(A)(i)-(vi) of this section;

(11) "Communications service" means: (A) A cable service, as defined in 47 U.S.C. § 522(6) , as it existed on January 1, 2019; (B) A telecommunications service, as defined in 47 U.S.C. § 153(53) , as it existed on January 1, 2019; (C) An information service, as defined in 47 U.S.C. § 153(24) , as it existed on January 1, 2019; or (D) Wireless service;

(A) A cable service, as defined in 47 U.S.C. § 522(6) , as it existed on January 1, 2019;

(B) A telecommunications service, as defined in 47 U.S.C. § 153(53) , as it existed on January 1, 2019;

(C) An information service, as defined in 47 U.S.C. § 153(24) , as it existed on January 1, 2019; or

(D) Wireless service;

(12) "Communications service provider" means: (A) A cable operator, as defined in 47 U.S.C. § 522(5) , as it existed on January 1, 2019; (B) A provider of information service, as defined in 47 U.S.C. § 153(24) , as it existed on January 1, 2019; (C) A telecommunications carrier, as defined in 47 U.S.C. § 153(51) ; or (D) A wireless provider;

(A) A cable operator, as defined in 47 U.S.C. § 522(5) , as it existed on January 1, 2019;

(B) A provider of information service, as defined in 47 U.S.C. § 153(24) , as it existed on January 1, 2019;

(C) A telecommunications carrier, as defined in 47 U.S.C. § 153(51) ; or

(D) A wireless provider;

(13) "Control" means the direct or indirect: (A) Ownership of at least fifty percent (50%) of the equity; (B) Ability to direct at least fifty percent (50%) of voting power; or (C) Ability otherwise to direct management policies;

(A) Ownership of at least fifty percent (50%) of the equity;

(B) Ability to direct at least fifty percent (50%) of voting power; or

(C) Ability otherwise to direct management policies;

(14) "Controlled-access facility" means a highway or street as described in § 27-68-102 ;

(15) "Decorative pole" means an authority pole that is specifically designed and placed for aesthetic purposes and on which limited appurtenances or attachments, such as a small wireless facility, lighting, specially designed informational or directional signage, or temporary holiday or special event attachments, have been placed or are permitted to be placed according to nondiscriminatory authority rules or codes;

(16) "Facility" means an antenna facility or a structure that is used for the provision of wireless service;

(17) "Fee" means a onetime, nonrecurring charge;

(18) "Historic district" means a group of buildings, properties, or sites that are: (A) Listed in the National Register of Historic Places or formally determined eligible for listing by the Keeper of the National Register of Historic Places, according to Section VI.D.1.a.i-v of the Nationwide Programmatic Agreement Regarding the Section 106 National Historic Preservation Act Review Process, 47 C.F.R. Part 1, Appendix C, as it existed on January 1, 2019; (B) A historic district designated under the Historic Districts Act, § 14-172-201 et seq.; or (C) A historic district otherwise designated under a local ordinance as of January 1, 2019;

(A) Listed in the National Register of Historic Places or formally determined eligible for listing by the Keeper of the National Register of Historic Places, according to Section VI.D.1.a.i-v of the Nationwide Programmatic Agreement Regarding the Section 106 National Historic Preservation Act Review Process, 47 C.F.R. Part 1, Appendix C, as it existed on January 1, 2019;

(B) A historic district designated under the Historic Districts Act, § 14-172-201 et seq.; or

(C) A historic district otherwise designated under a local ordinance as of January 1, 2019;

(19) "Micro-wireless facility" means a wireless facility that: (A) Is not larger in dimension than twenty-four inches (24") in length, fifteen inches (15") in width, and twelve inches (12") in height; (B) Has an exterior antenna that is no longer than eleven inches (11"); and (C) Is not placed any farther than ten feet (10') down the span as measured from the side of the pole;

(A) Is not larger in dimension than twenty-four inches (24") in length, fifteen inches (15") in width, and twelve inches (12") in height;

(B) Has an exterior antenna that is no longer than eleven inches (11"); and

(C) Is not placed any farther than ten feet (10') down the span as measured from the side of the pole;

(20) "Permit" means an authorization, written or otherwise, required by an authority to perform an action or initiate, continue, or complete a project for the deployment of wireless service at a specified location;

(21) "Person" means an individual, corporation, limited liability company, partnership, association, trust, authority, or other entity or organization;

(22) (A) "Pole" means a pole in a right-of-way that may be used by or for wireline communications, electric distribution, lighting, traffic control, signage, or a similar function or for collocation of small wireless facilities. (B) "Pole" does not include a wireless support structure or an electric transmission structure;

(A) "Pole" means a pole in a right-of-way that may be used by or for wireline communications, electric distribution, lighting, traffic control, signage, or a similar function or for collocation of small wireless facilities.

(B) "Pole" does not include a wireless support structure or an electric transmission structure;

(23) "Rate" means a recurring charge;

(24) (A) "Right-of-way" means an area on, below, or above a public utility easement, roadway, highway, street, sidewalk, alley, or similar property. (B) "Right-of-way" does not include a federal interstate highway, controlled-access facility, or a public utility easement that does not authorize the deployment sought by the wireless provider;

(A) "Right-of-way" means an area on, below, or above a public utility easement, roadway, highway, street, sidewalk, alley, or similar property.

(B) "Right-of-way" does not include a federal interstate highway, controlled-access facility, or a public utility easement that does not authorize the deployment sought by the wireless provider;

(25) (A) "Small wireless facility" means a wireless facility that meets all of the following specifications: (i) The facility: (a) Is mounted on a structure fifty feet (50') or less in height, including the antennas; (b) Is mounted on a structure no more than ten percent (10%) taller than other adjacent structures; or (c) Does not extend an existing structure on which it is located to a height of more than fifty feet (50') or by more than ten percent (10%), whichever is greater; (ii) Each antenna associated with the deployment, excluding associated antenna equipment, is no more than three cubic feet (3 cu. ft.) in volume; (iii) All other wireless equipment associated with the structure, including the wireless equipment associated with the antenna and any preexisting associated equipment on the structure, is no more than twenty-eight cubic feet (28 cu. ft.) in volume; (iv) The facility does not require antenna structure registration under 47 C.F.R. Part 17, as it existed on January 1, 2019; (v) The facility is not located on tribal lands, as defined in 36 C.F.R. 800.16(x) , as it existed on January 1, 2019; and (vi) The facility does not result in human exposure to radio frequencies in excess of the applicable safety standards specified in 47 C.F.R. 1.1307(b) , as it existed on January 1, 2019. (B) "Small wireless facility" does not include: (i) The structure or improvements on, under, or within which the equipment is located or collocated or to which the equipment is attached; and (ii) Any wireline backhaul facility or coaxial or fiber optic cable that is between wireless support structures or utility poles, or that is otherwise not immediately adjacent to or directly associated with a particular antenna;

(A) "Small wireless facility" means a wireless facility that meets all of the following specifications: (i) The facility: (a) Is mounted on a structure fifty feet (50') or less in height, including the antennas; (b) Is mounted on a structure no more than ten percent (10%) taller than other adjacent structures; or (c) Does not extend an existing structure on which it is located to a height of more than fifty feet (50') or by more than ten percent (10%), whichever is greater; (ii) Each antenna associated with the deployment, excluding associated antenna equipment, is no more than three cubic feet (3 cu. ft.) in volume; (iii) All other wireless equipment associated with the structure, including the wireless equipment associated with the antenna and any preexisting associated equipment on the structure, is no more than twenty-eight cubic feet (28 cu. ft.) in volume; (iv) The facility does not require antenna structure registration under 47 C.F.R. Part 17, as it existed on January 1, 2019; (v) The facility is not located on tribal lands, as defined in 36 C.F.R. 800.16(x) , as it existed on January 1, 2019; and (vi) The facility does not result in human exposure to radio frequencies in excess of the applicable safety standards specified in 47 C.F.R. 1.1307(b) , as it existed on January 1, 2019.

(i) The facility: (a) Is mounted on a structure fifty feet (50') or less in height, including the antennas; (b) Is mounted on a structure no more than ten percent (10%) taller than other adjacent structures; or (c) Does not extend an existing structure on which it is located to a height of more than fifty feet (50') or by more than ten percent (10%), whichever is greater;

(a) Is mounted on a structure fifty feet (50') or less in height, including the antennas;

(b) Is mounted on a structure no more than ten percent (10%) taller than other adjacent structures; or

(c) Does not extend an existing structure on which it is located to a height of more than fifty feet (50') or by more than ten percent (10%), whichever is greater;

(ii) Each antenna associated with the deployment, excluding associated antenna equipment, is no more than three cubic feet (3 cu. ft.) in volume;

(iii) All other wireless equipment associated with the structure, including the wireless equipment associated with the antenna and any preexisting associated equipment on the structure, is no more than twenty-eight cubic feet (28 cu. ft.) in volume;

(iv) The facility does not require antenna structure registration under 47 C.F.R. Part 17, as it existed on January 1, 2019;

(v) The facility is not located on tribal lands, as defined in 36 C.F.R. 800.16(x) , as it existed on January 1, 2019; and

(vi) The facility does not result in human exposure to radio frequencies in excess of the applicable safety standards specified in 47 C.F.R. 1.1307(b) , as it existed on January 1, 2019.

(B) "Small wireless facility" does not include: (i) The structure or improvements on, under, or within which the equipment is located or collocated or to which the equipment is attached; and (ii) Any wireline backhaul facility or coaxial or fiber optic cable that is between wireless support structures or utility poles, or that is otherwise not immediately adjacent to or directly associated with a particular antenna;

(i) The structure or improvements on, under, or within which the equipment is located or collocated or to which the equipment is attached; and

(ii) Any wireline backhaul facility or coaxial or fiber optic cable that is between wireless support structures or utility poles, or that is otherwise not immediately adjacent to or directly associated with a particular antenna;

(26) "Structure" means a pole or wireless support structure, whether or not it has an existing antenna facility, that is used or to be used for the provision of wireless service;

(27) "Technically feasible" means that by virtue of engineering or spectrum usage the proposed placement for a small wireless facility, or its design, concealment measures, or site location, can be implemented without a material reduction in the functionality of the small wireless facility;

(28) "Wireless infrastructure provider" means a person or an affiliate thereof, including a person authorized to provide communications service in the state, that builds or installs facilities for the provision of wireless service, but that is not a wireless service provider;

(29) "Wireless provider" means a wireless infrastructure provider or a wireless service provider;

(30) "Wireless service" means any service using licensed or unlicensed spectrum, including the use of Wi-Fi, whether at a fixed location or mobile, provided to the public;

(31) "Wireless service provider" means a person who provides wireless service;

(32) (A) "Wireless support structure" means a structure, including: (i) A monopole; (ii) A tower, either guyed or self-supporting; (iii) A billboard; (iv) A building; or (v) Any other existing or proposed structure designed to support or that is capable of supporting small wireless facilities, other than a structure designed solely for the collocation of small wireless facilities. (B) "Wireless support structure" does not include a pole; and

(A) "Wireless support structure" means a structure, including: (i) A monopole; (ii) A tower, either guyed or self-supporting; (iii) A billboard; (iv) A building; or (v) Any other existing or proposed structure designed to support or that is capable of supporting small wireless facilities, other than a structure designed solely for the collocation of small wireless facilities.

(i) A monopole;

(ii) A tower, either guyed or self-supporting;

(iii) A billboard;

(iv) A building; or

(v) Any other existing or proposed structure designed to support or that is capable of supporting small wireless facilities, other than a structure designed solely for the collocation of small wireless facilities.

(B) "Wireless support structure" does not include a pole; and

(33) "Wireline backhaul facility" means an aboveground or underground facility used to transport communications services from a wireless facility to a network.

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

Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.
Ark. Code Ann. § 23-114-101 — AR Code / Title 23 / Chapter 114 / Subchapter 1 / Section 23-114-101
Short title
Status: in_force

This chapter shall be known and may be cited as the "Charitable Bingo and Raffles Enabling Act". Acts 2007, No. 388, § 1.

This chapter shall be known and may be cited as the "Charitable Bingo and Raffles Enabling Act".

Acts 2007, No. 388, § 1.
Ark. Code Ann. § 23-79-410 — AR Code / Title 23 / Chapter 79 / Subchapter 4 / Section 23-79-410
Penalties
Status: in_force

In addition to any other applicable penalties for violations of the Arkansas Insurance Code, the Insurance Commissioner may require issuers violating any provisions of this subchapter or rules promulgated pursuant to this subchapter to cease marketing any Medicare supplement policy or certificate in this state which is related directly or indirectly to a violation or may require the issuer to take such actions as are necessary to comply with the provisions of this subchapter, or both. Amended by Act 2019, No. 315,§ 2716, eff. 7/24/2019. Acts 1992 (1st Ex. Sess.), No. 72, § 3.

In addition to any other applicable penalties for violations of the Arkansas Insurance Code, the Insurance Commissioner may require issuers violating any provisions of this subchapter or rules promulgated pursuant to this subchapter to cease marketing any Medicare supplement policy or certificate in this state which is related directly or indirectly to a violation or may require the issuer to take such actions as are necessary to comply with the provisions of this subchapter, or both.

Amended by Act 2019, No. 315,§ 2716, eff. 7/24/2019.

Acts 1992 (1st Ex. Sess.), No. 72, § 3.
Ark. Code Ann. § 23-46-404 — AR Code / Title 23 / Chapter 46 / Subchapter 4 / Section 23-46-404
Applications fees - Bank Commissioner's rules
Status: in_force

(a) The State Banking Board shall have the power to set and impose fees for any and all applications, regardless of whether the applications are of a type described in § 23-46-403 , which are reasonably calculated to defray the costs associated with the consideration, investigation, and processing of those applications. (b) (1) The Bank Commissioner may issue rules specifying the circumstances under which any application must be filed and the procedural and substantive requirements governing the filing of any and all applications of whatever type. (2) The commissioner may also issue rules requiring the submission of applications that are not described in the Arkansas Banking Code of 1997. Amended by Act 2019, No. 315,§ 2529, eff. 7/24/2019. Acts 1997, No. 89, § 1.

(a) The State Banking Board shall have the power to set and impose fees for any and all applications, regardless of whether the applications are of a type described in § 23-46-403 , which are reasonably calculated to defray the costs associated with the consideration, investigation, and processing of those applications.

(b) (1) The Bank Commissioner may issue rules specifying the circumstances under which any application must be filed and the procedural and substantive requirements governing the filing of any and all applications of whatever type. (2) The commissioner may also issue rules requiring the submission of applications that are not described in the Arkansas Banking Code of 1997.

(1) The Bank Commissioner may issue rules specifying the circumstances under which any application must be filed and the procedural and substantive requirements governing the filing of any and all applications of whatever type.

(2) The commissioner may also issue rules requiring the submission of applications that are not described in the Arkansas Banking Code of 1997.

Amended by Act 2019, No. 315,§ 2529, eff. 7/24/2019.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-47-206 — AR Code / Title 23 / Chapter 47 / Subchapter 2 / Section 23-47-206
Settlement of checks at par - Exception
Status: in_force

(a) No state bank shall settle any check drawn on it against an account with a sufficient balance otherwise than at par. (b) However, the provisions of this section shall not apply with respect to the settlement of a check sent to a state bank for special handling or as a special collection item. Acts 1997, No. 89, § 1.

(a) No state bank shall settle any check drawn on it against an account with a sufficient balance otherwise than at par.

(b) However, the provisions of this section shall not apply with respect to the settlement of a check sent to a state bank for special handling or as a special collection item.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-96-113 — AR Code / Title 23 / Chapter 96 / Section 23-96-113
Authority of association when proceeding under section 23-96-111 or section 23-96-112
Status: in_force

(a) (1) When proceeding under § 23-96-111 or § 23-96-112(a)(2) , the Arkansas Life and Health Insurance Guaranty Association shall: (A) With respect to policies and contracts, assure payment of benefits that would have been payable under the policies or contracts of the insolvent insurer, for claims incurred: (i) With respect to group policies and contracts, not later than the earlier of the next renewal date under the policies or contracts or forty-five (45) days, but in no event less than thirty (30) days, after the date on which the association becomes obligated with respect to the policies and contracts; and (ii) With respect to nongroup policies, contracts, and annuities, not later than the earlier of the next renewal date, if any, under the policies or contracts, or one (1) year, but in no event less than thirty (30) days, from the date on which the association becomes obligated with respect to the policies or contracts; (B) Make diligent efforts to provide all known insureds, enrollees, or annuitants, for nongroup policies and contracts, or group policy or contract owners with respect to group policies and contracts thirty (30) days' notice of the termination, under this subdivision (a)(1), of the benefits provided; and (C) With respect to nongroup policies and contracts covered by the association, make available to each known insured, enrollee, or annuitant, or owner if other than the insured or annuitant, and with respect to an individual formerly an insured, enrollee, or annuitant under a group policy or contract who is not eligible for replacement group coverage, make available substitute coverage on an individual basis according to subdivision (a)(2)(A) of this section, if the insureds, enrollees, or annuitants had a right under law or the terminated policy, contract, or annuity to convert coverage to individual coverage or to continue an individual policy, contract, or annuity in force until a specified age or for a specified time, during which the insurer or health maintenance organization had no right unilaterally to make changes in any provisions of the policy, contract, or annuity or had a right only to make changes in premium by class. (2) (A) In providing the substitute coverage required under subdivision (a)(1)(C) of this section, the association may offer either to reissue the terminated coverage or to issue an alternative policy or contract at actuarially justified rates subject to the prior approval of the Insurance Commissioner. (B) Alternative or reissued policies or contracts shall be offered without requiring evidence of insurability, and shall not provide for any waiting period or exclusion that would not have applied under the terminated policy or contract. (C) The association may reinsure any alternative or reissued policy or contract. (3) (A) (i) Alternative policies or contracts adopted by the association shall be subject to the approval of the commissioner. (ii) The association may adopt alternative policies or contracts of various types for future issuance without regard to any particular impairment or insolvency. (B) (i) Alternative policies or contracts shall contain at least the minimum statutory provisions required in this state and provide benefits that shall not be unreasonable in relation to the premium charged. (ii) The association shall set the premium according to a table of rates which it shall adopt. (iii) The premium shall reflect the amount of insurance to be provided and the age and class of risk of each insured, but shall not reflect any changes in the health of the insured after the original policy or contract was last underwritten. (C) Any alternative policy or contract issued by the association shall provide coverage of a type similar to that of the policy or contract issued by the impaired or insolvent insurer, as determined by the association. (b) When proceeding under § 23-96-111 or § 23-96-112(a) with respect to a policy or contract carrying guaranteed minimum interest rates, the association shall assure the payment or crediting of a rate of interest consistent with § 23-96-106(a)(3) . (c) (1) In carrying out its duties under § 23-96-111 and § 23-96-112(a) , the association may: (A) Subject to approval by a court in this state, impose permanent policy or contract liens in connection with any guarantee, assumption, or reinsurance agreement, if the association finds that the amounts which can be assessed under this chapter are less than the amounts needed to assure full and prompt performance of the association's duties under this chapter or that the economic or financial conditions as they affect member insurers are sufficiently adverse to render the imposition of such permanent policy or contract liens to be in the public interest; or (B) (i) Subject to approval by a court in this state, impose temporary moratoriums or liens on payments of cash values and policy loans, or any other right to withdraw funds held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of cash or policy loan value. (ii) In addition, in the event of a temporary moratorium or moratorium charge imposed by the receivership court on payment of cash values or policy loans, or on any other right to withdraw funds held in conjunction with policies or contracts, out of the assets of the impaired insurer or insolvent insurer, the association may defer the payment of cash values, policy loans, or other rights by the association for the period of the moratorium or moratorium charge imposed by the receivership court, except for claims covered by the association to be paid according to a hardship procedure established by the liquidator or rehabilitator and approved by the receivership court. (2) (A) A deposit in this state, held pursuant to law or required by the commissioner for the benefit of creditors, including policy or contract owners, not turned over to the domiciliary liquidator upon the entry of a final order of liquidation or order approving a rehabilitation plan of a member insurer domiciled in this state or in a reciprocal state under § 23-68-115 shall be promptly paid to the association. (B) The association: (i) Is entitled to retain a portion of any amount so paid to it equal to the percentage determined by dividing the aggregate amount of policy or contract owners' claims related to that insolvency for which the association has provided statutory benefits by the aggregate amount of all policy or contract owners' claims in this state related to that insolvency; and (ii) Shall remit to the domiciliary receiver the amount so paid to the association and retained under subdivision (c)(2)(B)(i) of this section. (C) Any amount so paid to the association and retained by it under subdivision (c)(2)(B)(i) of this section shall be treated as a distribution of estate assets under § 23-68-126 or similar provision of the state of domicile of the impaired insurer or insolvent insurer. (d) In carrying out its duties in connection with guaranteeing, assuming, reissuing, or reinsuring policies or contracts under § 23-96-111 or § 23-96-112(a) , the association may issue substitute coverage for a policy or contract that provides an interest rate, crediting rate, or similar factor determined by use of an index or other external reference stated in the policy or contract employed in calculating returns or changes in value by issuing an alternative policy or contract according to the following provisions: (1) In lieu of the index or other external reference provided for in the original policy or contract, the alternative policy or contract provides for: (A) A fixed rate; (B) Payments of dividends with minimum guarantees; or (C) A different method for calculating interest or changes in value; (2) There is no requirement for evidence of insurability, waiting period, or other exclusion that would not have applied under the replaced policy or contract; and (3) The alternative policy or contract is substantially similar to the replaced policy or contract in all other material terms. Amended by Act 2019, No. 520,§ 2, eff. 7/24/2019. Acts 1989, No. 444, § 8; 1997, No. 950, § 1; 2001, No. 1603, §§ 58, 59; 2001, No. 1604, § 122.

(a) (1) When proceeding under § 23-96-111 or § 23-96-112(a)(2) , the Arkansas Life and Health Insurance Guaranty Association shall: (A) With respect to policies and contracts, assure payment of benefits that would have been payable under the policies or contracts of the insolvent insurer, for claims incurred: (i) With respect to group policies and contracts, not later than the earlier of the next renewal date under the policies or contracts or forty-five (45) days, but in no event less than thirty (30) days, after the date on which the association becomes obligated with respect to the policies and contracts; and (ii) With respect to nongroup policies, contracts, and annuities, not later than the earlier of the next renewal date, if any, under the policies or contracts, or one (1) year, but in no event less than thirty (30) days, from the date on which the association becomes obligated with respect to the policies or contracts; (B) Make diligent efforts to provide all known insureds, enrollees, or annuitants, for nongroup policies and contracts, or group policy or contract owners with respect to group policies and contracts thirty (30) days' notice of the termination, under this subdivision (a)(1), of the benefits provided; and (C) With respect to nongroup policies and contracts covered by the association, make available to each known insured, enrollee, or annuitant, or owner if other than the insured or annuitant, and with respect to an individual formerly an insured, enrollee, or annuitant under a group policy or contract who is not eligible for replacement group coverage, make available substitute coverage on an individual basis according to subdivision (a)(2)(A) of this section, if the insureds, enrollees, or annuitants had a right under law or the terminated policy, contract, or annuity to convert coverage to individual coverage or to continue an individual policy, contract, or annuity in force until a specified age or for a specified time, during which the insurer or health maintenance organization had no right unilaterally to make changes in any provisions of the policy, contract, or annuity or had a right only to make changes in premium by class. (2) (A) In providing the substitute coverage required under subdivision (a)(1)(C) of this section, the association may offer either to reissue the terminated coverage or to issue an alternative policy or contract at actuarially justified rates subject to the prior approval of the Insurance Commissioner. (B) Alternative or reissued policies or contracts shall be offered without requiring evidence of insurability, and shall not provide for any waiting period or exclusion that would not have applied under the terminated policy or contract. (C) The association may reinsure any alternative or reissued policy or contract. (3) (A) (i) Alternative policies or contracts adopted by the association shall be subject to the approval of the commissioner. (ii) The association may adopt alternative policies or contracts of various types for future issuance without regard to any particular impairment or insolvency. (B) (i) Alternative policies or contracts shall contain at least the minimum statutory provisions required in this state and provide benefits that shall not be unreasonable in relation to the premium charged. (ii) The association shall set the premium according to a table of rates which it shall adopt. (iii) The premium shall reflect the amount of insurance to be provided and the age and class of risk of each insured, but shall not reflect any changes in the health of the insured after the original policy or contract was last underwritten. (C) Any alternative policy or contract issued by the association shall provide coverage of a type similar to that of the policy or contract issued by the impaired or insolvent insurer, as determined by the association.

(1) When proceeding under § 23-96-111 or § 23-96-112(a)(2) , the Arkansas Life and Health Insurance Guaranty Association shall: (A) With respect to policies and contracts, assure payment of benefits that would have been payable under the policies or contracts of the insolvent insurer, for claims incurred: (i) With respect to group policies and contracts, not later than the earlier of the next renewal date under the policies or contracts or forty-five (45) days, but in no event less than thirty (30) days, after the date on which the association becomes obligated with respect to the policies and contracts; and (ii) With respect to nongroup policies, contracts, and annuities, not later than the earlier of the next renewal date, if any, under the policies or contracts, or one (1) year, but in no event less than thirty (30) days, from the date on which the association becomes obligated with respect to the policies or contracts; (B) Make diligent efforts to provide all known insureds, enrollees, or annuitants, for nongroup policies and contracts, or group policy or contract owners with respect to group policies and contracts thirty (30) days' notice of the termination, under this subdivision (a)(1), of the benefits provided; and (C) With respect to nongroup policies and contracts covered by the association, make available to each known insured, enrollee, or annuitant, or owner if other than the insured or annuitant, and with respect to an individual formerly an insured, enrollee, or annuitant under a group policy or contract who is not eligible for replacement group coverage, make available substitute coverage on an individual basis according to subdivision (a)(2)(A) of this section, if the insureds, enrollees, or annuitants had a right under law or the terminated policy, contract, or annuity to convert coverage to individual coverage or to continue an individual policy, contract, or annuity in force until a specified age or for a specified time, during which the insurer or health maintenance organization had no right unilaterally to make changes in any provisions of the policy, contract, or annuity or had a right only to make changes in premium by class.

(A) With respect to policies and contracts, assure payment of benefits that would have been payable under the policies or contracts of the insolvent insurer, for claims incurred: (i) With respect to group policies and contracts, not later than the earlier of the next renewal date under the policies or contracts or forty-five (45) days, but in no event less than thirty (30) days, after the date on which the association becomes obligated with respect to the policies and contracts; and (ii) With respect to nongroup policies, contracts, and annuities, not later than the earlier of the next renewal date, if any, under the policies or contracts, or one (1) year, but in no event less than thirty (30) days, from the date on which the association becomes obligated with respect to the policies or contracts;

(i) With respect to group policies and contracts, not later than the earlier of the next renewal date under the policies or contracts or forty-five (45) days, but in no event less than thirty (30) days, after the date on which the association becomes obligated with respect to the policies and contracts; and

(ii) With respect to nongroup policies, contracts, and annuities, not later than the earlier of the next renewal date, if any, under the policies or contracts, or one (1) year, but in no event less than thirty (30) days, from the date on which the association becomes obligated with respect to the policies or contracts;

(B) Make diligent efforts to provide all known insureds, enrollees, or annuitants, for nongroup policies and contracts, or group policy or contract owners with respect to group policies and contracts thirty (30) days' notice of the termination, under this subdivision (a)(1), of the benefits provided; and

(C) With respect to nongroup policies and contracts covered by the association, make available to each known insured, enrollee, or annuitant, or owner if other than the insured or annuitant, and with respect to an individual formerly an insured, enrollee, or annuitant under a group policy or contract who is not eligible for replacement group coverage, make available substitute coverage on an individual basis according to subdivision (a)(2)(A) of this section, if the insureds, enrollees, or annuitants had a right under law or the terminated policy, contract, or annuity to convert coverage to individual coverage or to continue an individual policy, contract, or annuity in force until a specified age or for a specified time, during which the insurer or health maintenance organization had no right unilaterally to make changes in any provisions of the policy, contract, or annuity or had a right only to make changes in premium by class.

(2) (A) In providing the substitute coverage required under subdivision (a)(1)(C) of this section, the association may offer either to reissue the terminated coverage or to issue an alternative policy or contract at actuarially justified rates subject to the prior approval of the Insurance Commissioner. (B) Alternative or reissued policies or contracts shall be offered without requiring evidence of insurability, and shall not provide for any waiting period or exclusion that would not have applied under the terminated policy or contract. (C) The association may reinsure any alternative or reissued policy or contract.

(A) In providing the substitute coverage required under subdivision (a)(1)(C) of this section, the association may offer either to reissue the terminated coverage or to issue an alternative policy or contract at actuarially justified rates subject to the prior approval of the Insurance Commissioner.

(B) Alternative or reissued policies or contracts shall be offered without requiring evidence of insurability, and shall not provide for any waiting period or exclusion that would not have applied under the terminated policy or contract.

(C) The association may reinsure any alternative or reissued policy or contract.

(3) (A) (i) Alternative policies or contracts adopted by the association shall be subject to the approval of the commissioner. (ii) The association may adopt alternative policies or contracts of various types for future issuance without regard to any particular impairment or insolvency. (B) (i) Alternative policies or contracts shall contain at least the minimum statutory provisions required in this state and provide benefits that shall not be unreasonable in relation to the premium charged. (ii) The association shall set the premium according to a table of rates which it shall adopt. (iii) The premium shall reflect the amount of insurance to be provided and the age and class of risk of each insured, but shall not reflect any changes in the health of the insured after the original policy or contract was last underwritten. (C) Any alternative policy or contract issued by the association shall provide coverage of a type similar to that of the policy or contract issued by the impaired or insolvent insurer, as determined by the association.

(A) (i) Alternative policies or contracts adopted by the association shall be subject to the approval of the commissioner. (ii) The association may adopt alternative policies or contracts of various types for future issuance without regard to any particular impairment or insolvency.

(i) Alternative policies or contracts adopted by the association shall be subject to the approval of the commissioner.

(ii) The association may adopt alternative policies or contracts of various types for future issuance without regard to any particular impairment or insolvency.

(B) (i) Alternative policies or contracts shall contain at least the minimum statutory provisions required in this state and provide benefits that shall not be unreasonable in relation to the premium charged. (ii) The association shall set the premium according to a table of rates which it shall adopt. (iii) The premium shall reflect the amount of insurance to be provided and the age and class of risk of each insured, but shall not reflect any changes in the health of the insured after the original policy or contract was last underwritten.

(i) Alternative policies or contracts shall contain at least the minimum statutory provisions required in this state and provide benefits that shall not be unreasonable in relation to the premium charged.

(ii) The association shall set the premium according to a table of rates which it shall adopt.

(iii) The premium shall reflect the amount of insurance to be provided and the age and class of risk of each insured, but shall not reflect any changes in the health of the insured after the original policy or contract was last underwritten.

(C) Any alternative policy or contract issued by the association shall provide coverage of a type similar to that of the policy or contract issued by the impaired or insolvent insurer, as determined by the association.

(b) When proceeding under § 23-96-111 or § 23-96-112(a) with respect to a policy or contract carrying guaranteed minimum interest rates, the association shall assure the payment or crediting of a rate of interest consistent with § 23-96-106(a)(3) .

(c) (1) In carrying out its duties under § 23-96-111 and § 23-96-112(a) , the association may: (A) Subject to approval by a court in this state, impose permanent policy or contract liens in connection with any guarantee, assumption, or reinsurance agreement, if the association finds that the amounts which can be assessed under this chapter are less than the amounts needed to assure full and prompt performance of the association's duties under this chapter or that the economic or financial conditions as they affect member insurers are sufficiently adverse to render the imposition of such permanent policy or contract liens to be in the public interest; or (B) (i) Subject to approval by a court in this state, impose temporary moratoriums or liens on payments of cash values and policy loans, or any other right to withdraw funds held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of cash or policy loan value. (ii) In addition, in the event of a temporary moratorium or moratorium charge imposed by the receivership court on payment of cash values or policy loans, or on any other right to withdraw funds held in conjunction with policies or contracts, out of the assets of the impaired insurer or insolvent insurer, the association may defer the payment of cash values, policy loans, or other rights by the association for the period of the moratorium or moratorium charge imposed by the receivership court, except for claims covered by the association to be paid according to a hardship procedure established by the liquidator or rehabilitator and approved by the receivership court. (2) (A) A deposit in this state, held pursuant to law or required by the commissioner for the benefit of creditors, including policy or contract owners, not turned over to the domiciliary liquidator upon the entry of a final order of liquidation or order approving a rehabilitation plan of a member insurer domiciled in this state or in a reciprocal state under § 23-68-115 shall be promptly paid to the association. (B) The association: (i) Is entitled to retain a portion of any amount so paid to it equal to the percentage determined by dividing the aggregate amount of policy or contract owners' claims related to that insolvency for which the association has provided statutory benefits by the aggregate amount of all policy or contract owners' claims in this state related to that insolvency; and (ii) Shall remit to the domiciliary receiver the amount so paid to the association and retained under subdivision (c)(2)(B)(i) of this section. (C) Any amount so paid to the association and retained by it under subdivision (c)(2)(B)(i) of this section shall be treated as a distribution of estate assets under § 23-68-126 or similar provision of the state of domicile of the impaired insurer or insolvent insurer.

(1) In carrying out its duties under § 23-96-111 and § 23-96-112(a) , the association may: (A) Subject to approval by a court in this state, impose permanent policy or contract liens in connection with any guarantee, assumption, or reinsurance agreement, if the association finds that the amounts which can be assessed under this chapter are less than the amounts needed to assure full and prompt performance of the association's duties under this chapter or that the economic or financial conditions as they affect member insurers are sufficiently adverse to render the imposition of such permanent policy or contract liens to be in the public interest; or (B) (i) Subject to approval by a court in this state, impose temporary moratoriums or liens on payments of cash values and policy loans, or any other right to withdraw funds held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of cash or policy loan value. (ii) In addition, in the event of a temporary moratorium or moratorium charge imposed by the receivership court on payment of cash values or policy loans, or on any other right to withdraw funds held in conjunction with policies or contracts, out of the assets of the impaired insurer or insolvent insurer, the association may defer the payment of cash values, policy loans, or other rights by the association for the period of the moratorium or moratorium charge imposed by the receivership court, except for claims covered by the association to be paid according to a hardship procedure established by the liquidator or rehabilitator and approved by the receivership court.

(A) Subject to approval by a court in this state, impose permanent policy or contract liens in connection with any guarantee, assumption, or reinsurance agreement, if the association finds that the amounts which can be assessed under this chapter are less than the amounts needed to assure full and prompt performance of the association's duties under this chapter or that the economic or financial conditions as they affect member insurers are sufficiently adverse to render the imposition of such permanent policy or contract liens to be in the public interest; or

(B) (i) Subject to approval by a court in this state, impose temporary moratoriums or liens on payments of cash values and policy loans, or any other right to withdraw funds held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of cash or policy loan value. (ii) In addition, in the event of a temporary moratorium or moratorium charge imposed by the receivership court on payment of cash values or policy loans, or on any other right to withdraw funds held in conjunction with policies or contracts, out of the assets of the impaired insurer or insolvent insurer, the association may defer the payment of cash values, policy loans, or other rights by the association for the period of the moratorium or moratorium charge imposed by the receivership court, except for claims covered by the association to be paid according to a hardship procedure established by the liquidator or rehabilitator and approved by the receivership court.

(i) Subject to approval by a court in this state, impose temporary moratoriums or liens on payments of cash values and policy loans, or any other right to withdraw funds held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of cash or policy loan value.

(ii) In addition, in the event of a temporary moratorium or moratorium charge imposed by the receivership court on payment of cash values or policy loans, or on any other right to withdraw funds held in conjunction with policies or contracts, out of the assets of the impaired insurer or insolvent insurer, the association may defer the payment of cash values, policy loans, or other rights by the association for the period of the moratorium or moratorium charge imposed by the receivership court, except for claims covered by the association to be paid according to a hardship procedure established by the liquidator or rehabilitator and approved by the receivership court.

(2) (A) A deposit in this state, held pursuant to law or required by the commissioner for the benefit of creditors, including policy or contract owners, not turned over to the domiciliary liquidator upon the entry of a final order of liquidation or order approving a rehabilitation plan of a member insurer domiciled in this state or in a reciprocal state under § 23-68-115 shall be promptly paid to the association. (B) The association: (i) Is entitled to retain a portion of any amount so paid to it equal to the percentage determined by dividing the aggregate amount of policy or contract owners' claims related to that insolvency for which the association has provided statutory benefits by the aggregate amount of all policy or contract owners' claims in this state related to that insolvency; and (ii) Shall remit to the domiciliary receiver the amount so paid to the association and retained under subdivision (c)(2)(B)(i) of this section. (C) Any amount so paid to the association and retained by it under subdivision (c)(2)(B)(i) of this section shall be treated as a distribution of estate assets under § 23-68-126 or similar provision of the state of domicile of the impaired insurer or insolvent insurer.

(A) A deposit in this state, held pursuant to law or required by the commissioner for the benefit of creditors, including policy or contract owners, not turned over to the domiciliary liquidator upon the entry of a final order of liquidation or order approving a rehabilitation plan of a member insurer domiciled in this state or in a reciprocal state under § 23-68-115 shall be promptly paid to the association.

(B) The association: (i) Is entitled to retain a portion of any amount so paid to it equal to the percentage determined by dividing the aggregate amount of policy or contract owners' claims related to that insolvency for which the association has provided statutory benefits by the aggregate amount of all policy or contract owners' claims in this state related to that insolvency; and (ii) Shall remit to the domiciliary receiver the amount so paid to the association and retained under subdivision (c)(2)(B)(i) of this section.

(i) Is entitled to retain a portion of any amount so paid to it equal to the percentage determined by dividing the aggregate amount of policy or contract owners' claims related to that insolvency for which the association has provided statutory benefits by the aggregate amount of all policy or contract owners' claims in this state related to that insolvency; and

(ii) Shall remit to the domiciliary receiver the amount so paid to the association and retained under subdivision (c)(2)(B)(i) of this section.

(C) Any amount so paid to the association and retained by it under subdivision (c)(2)(B)(i) of this section shall be treated as a distribution of estate assets under § 23-68-126 or similar provision of the state of domicile of the impaired insurer or insolvent insurer.

(d) In carrying out its duties in connection with guaranteeing, assuming, reissuing, or reinsuring policies or contracts under § 23-96-111 or § 23-96-112(a) , the association may issue substitute coverage for a policy or contract that provides an interest rate, crediting rate, or similar factor determined by use of an index or other external reference stated in the policy or contract employed in calculating returns or changes in value by issuing an alternative policy or contract according to the following provisions: (1) In lieu of the index or other external reference provided for in the original policy or contract, the alternative policy or contract provides for: (A) A fixed rate; (B) Payments of dividends with minimum guarantees; or (C) A different method for calculating interest or changes in value; (2) There is no requirement for evidence of insurability, waiting period, or other exclusion that would not have applied under the replaced policy or contract; and (3) The alternative policy or contract is substantially similar to the replaced policy or contract in all other material terms.

(1) In lieu of the index or other external reference provided for in the original policy or contract, the alternative policy or contract provides for: (A) A fixed rate; (B) Payments of dividends with minimum guarantees; or (C) A different method for calculating interest or changes in value;

(A) A fixed rate;

(B) Payments of dividends with minimum guarantees; or

(C) A different method for calculating interest or changes in value;

(2) There is no requirement for evidence of insurability, waiting period, or other exclusion that would not have applied under the replaced policy or contract; and

(3) The alternative policy or contract is substantially similar to the replaced policy or contract in all other material terms.

Amended by Act 2019, No. 520,§ 2, eff. 7/24/2019.

Acts 1989, No. 444, § 8; 1997, No. 950, § 1; 2001, No. 1603, §§ 58, 59; 2001, No. 1604, § 122.
Ark. Code Ann. § 23-79-306 — AR Code / Title 23 / Chapter 79 / Subchapter 3 / Section 23-79-306
Requirements
Status: in_force

The following requirements are applicable only as to claims-made policies as defined in § 23-79-302 : (1) The policy application and the initial page of each claims-made policy must include a conspicuous notice at the top indicating that the contract is a claims-made policy; (2) The insurer must provide at no additional charge an automatic sixty-day extended reporting period upon cancellation or termination of the claims-made policy by either the insured or insurer; (3) (A) At the expiration of the automatic sixty-day extended reporting period as required by subdivision (2) of this section, the insurer must offer an extended reporting period endorsement. (B) Any notice of termination of a claims-made policy must include a disclosure advising the insured and his or her agent of the availability of and premium for an extended reporting period endorsement and the importance of purchasing the coverage; (4) The premium for any extended reporting period endorsement shall be based upon the rates and rating rules in effect at the inception date of the last policy period of the claims-made policy; (5) Form or rate/rule filings restricting the risks to be covered by an extended reporting period endorsement shall not be approved or accepted for use by the Insurance Commissioner; (6) The limit of liability in the policy aggregate for the optional extended reporting period endorsement offered by the insurer shall be no less than the greater of the amount of coverage remaining in the expiring policy aggregate or fifty percent (50%) of the aggregate at policy inception. The insurer may offer to increase the original amount of the aggregate limit of liability applicable during the period of the extended reporting period endorsement; (7) (A) A retroactive date may only be advanced with the written consent of the first-named insured and upon one (1) or more of the following conditions: (i) If there is a change in insurer other than another insurer within the same insurance holding company or group; (ii) If there is a substantial change in the insured's operations which would have been a material factor in the insurer's acceptance or declination of the risk; or (iii) At the request of the first-named insured. (B) Prior to advancement of the retroactive date under subdivisions (7)(A)(i)-(iii) of this section, the insured must receive a disclosure form for his or her signature which acknowledges that he or she has been advised of his or her right to purchase an extended reporting period endorsement; and (8) The insurer must provide the following loss information to the named insured within thirty (30) days of the insured's request and within fifteen (15) days after notice of cancellation or nonrenewal is issued: (A) Description of closed claims including the date and description of occurrence, amount of payments, if any; (B) Description of open claims including the date and description of occurrence, amount of payment, if any, and an estimate of reserves, if any; and (C) Information on notices of occurrence including the date and an estimate of reserves, if any. Acts 1987, No. 204, § 4; 1991, No. 1123, § 13.

The following requirements are applicable only as to claims-made policies as defined in § 23-79-302 :

(1) The policy application and the initial page of each claims-made policy must include a conspicuous notice at the top indicating that the contract is a claims-made policy;

(2) The insurer must provide at no additional charge an automatic sixty-day extended reporting period upon cancellation or termination of the claims-made policy by either the insured or insurer;

(3) (A) At the expiration of the automatic sixty-day extended reporting period as required by subdivision (2) of this section, the insurer must offer an extended reporting period endorsement. (B) Any notice of termination of a claims-made policy must include a disclosure advising the insured and his or her agent of the availability of and premium for an extended reporting period endorsement and the importance of purchasing the coverage;

(A) At the expiration of the automatic sixty-day extended reporting period as required by subdivision (2) of this section, the insurer must offer an extended reporting period endorsement.

(B) Any notice of termination of a claims-made policy must include a disclosure advising the insured and his or her agent of the availability of and premium for an extended reporting period endorsement and the importance of purchasing the coverage;

(4) The premium for any extended reporting period endorsement shall be based upon the rates and rating rules in effect at the inception date of the last policy period of the claims-made policy;

(5) Form or rate/rule filings restricting the risks to be covered by an extended reporting period endorsement shall not be approved or accepted for use by the Insurance Commissioner;

(6) The limit of liability in the policy aggregate for the optional extended reporting period endorsement offered by the insurer shall be no less than the greater of the amount of coverage remaining in the expiring policy aggregate or fifty percent (50%) of the aggregate at policy inception. The insurer may offer to increase the original amount of the aggregate limit of liability applicable during the period of the extended reporting period endorsement;

(7) (A) A retroactive date may only be advanced with the written consent of the first-named insured and upon one (1) or more of the following conditions: (i) If there is a change in insurer other than another insurer within the same insurance holding company or group; (ii) If there is a substantial change in the insured's operations which would have been a material factor in the insurer's acceptance or declination of the risk; or (iii) At the request of the first-named insured. (B) Prior to advancement of the retroactive date under subdivisions (7)(A)(i)-(iii) of this section, the insured must receive a disclosure form for his or her signature which acknowledges that he or she has been advised of his or her right to purchase an extended reporting period endorsement; and

(A) A retroactive date may only be advanced with the written consent of the first-named insured and upon one (1) or more of the following conditions: (i) If there is a change in insurer other than another insurer within the same insurance holding company or group; (ii) If there is a substantial change in the insured's operations which would have been a material factor in the insurer's acceptance or declination of the risk; or (iii) At the request of the first-named insured.

(i) If there is a change in insurer other than another insurer within the same insurance holding company or group;

(ii) If there is a substantial change in the insured's operations which would have been a material factor in the insurer's acceptance or declination of the risk; or

(iii) At the request of the first-named insured.

(B) Prior to advancement of the retroactive date under subdivisions (7)(A)(i)-(iii) of this section, the insured must receive a disclosure form for his or her signature which acknowledges that he or she has been advised of his or her right to purchase an extended reporting period endorsement; and

(8) The insurer must provide the following loss information to the named insured within thirty (30) days of the insured's request and within fifteen (15) days after notice of cancellation or nonrenewal is issued: (A) Description of closed claims including the date and description of occurrence, amount of payments, if any; (B) Description of open claims including the date and description of occurrence, amount of payment, if any, and an estimate of reserves, if any; and (C) Information on notices of occurrence including the date and an estimate of reserves, if any.

(A) Description of closed claims including the date and description of occurrence, amount of payments, if any;

(B) Description of open claims including the date and description of occurrence, amount of payment, if any, and an estimate of reserves, if any; and

(C) Information on notices of occurrence including the date and an estimate of reserves, if any.

Acts 1987, No. 204, § 4; 1991, No. 1123, § 13.
Ark. Code Ann. § 23-82-118 — AR Code / Title 23 / Chapter 82 / Section 23-82-118
Prohibited provisions
Status: in_force

No policy of industrial life insurance shall contain any of the following provisions: (1) A provision by which the insurer may deny liability under the policy for the reason that the insured has previously obtained other insurance from the same insurer; (2) A provision giving the insurer the right to declare the policy void because the insured has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical, or surgical treatment or attention, except a provision which gives the insurer the right to declare the policy void if the insured has, within two (2) years prior to the issuance of the policy, received institutional, hospital, medical, or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning the treatment or attention was not of a serious nature or was not material to the risk; or (3) A provision giving the insurer the right to declare the policy void because the insured has been rejected for insurance, unless the right is conditioned upon a showing by the insurer that knowledge of the rejection would have led to a refusal by the insurer to make the contract. Acts 1959, No. 148, § 363; A.S.A. 1947, § 66-3418.

No policy of industrial life insurance shall contain any of the following provisions:

(1) A provision by which the insurer may deny liability under the policy for the reason that the insured has previously obtained other insurance from the same insurer;

(2) A provision giving the insurer the right to declare the policy void because the insured has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical, or surgical treatment or attention, except a provision which gives the insurer the right to declare the policy void if the insured has, within two (2) years prior to the issuance of the policy, received institutional, hospital, medical, or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning the treatment or attention was not of a serious nature or was not material to the risk; or

(3) A provision giving the insurer the right to declare the policy void because the insured has been rejected for insurance, unless the right is conditioned upon a showing by the insurer that knowledge of the rejection would have led to a refusal by the insurer to make the contract.

Acts 1959, No. 148, § 363; A.S.A. 1947, § 66-3418.
Ark. Code Ann. § 23-51-108 — AR Code / Title 23 / Chapter 51 / Section 23-51-108
Hearing and decision on charter application
Status: in_force

(a) No person shall appear in opposition to the application unless the person shall have filed a written protest to the granting of the application within thirty (30) days of the date of the notice of the filing of the application. The protest must state the grounds for objection and must be accompanied by a filing fee of not less than two thousand dollars ($2,000) nor more than five thousand dollars ($5,000) for each protestant, such amount to be set by rule promulgated by the Bank Commissioner. (b) Once the written report of investigation has been completed, the commissioner shall establish a time for hearing on the charter application. (c) Notice of the time, place, and purpose of the hearing shall be given at least thirty (30) days before the hearing as follows: (1) By letter from the commissioner to the organizers of the proposed state trust company and to each trust institution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a) ; (2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and (3) By release to news media. (d) If the commissioner sets a hearing, the commissioner shall conduct a public hearing and as many prehearing conferences and opportunities for discovery as the commissioner considers advisable and consistent with applicable law and rules. (e) Based on the record of any hearing conducted pursuant to subsection (d) of this section, the commissioner shall determine whether all of the necessary conditions set forth in § 23-51-106(b) have been established and shall enter an order granting or denying the charter. The commissioner may make approval of any application conditional and shall include any conditions in the order granting the charter. Amended by Act 2019, No. 315,§ 2568, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2567, eff. 7/24/2019. Acts 1997, No. 940, § 8.

(a) No person shall appear in opposition to the application unless the person shall have filed a written protest to the granting of the application within thirty (30) days of the date of the notice of the filing of the application. The protest must state the grounds for objection and must be accompanied by a filing fee of not less than two thousand dollars ($2,000) nor more than five thousand dollars ($5,000) for each protestant, such amount to be set by rule promulgated by the Bank Commissioner.

(b) Once the written report of investigation has been completed, the commissioner shall establish a time for hearing on the charter application.

(c) Notice of the time, place, and purpose of the hearing shall be given at least thirty (30) days before the hearing as follows: (1) By letter from the commissioner to the organizers of the proposed state trust company and to each trust institution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a) ; (2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and (3) By release to news media.

(1) By letter from the commissioner to the organizers of the proposed state trust company and to each trust institution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a) ;

(2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and

(3) By release to news media.

(d) If the commissioner sets a hearing, the commissioner shall conduct a public hearing and as many prehearing conferences and opportunities for discovery as the commissioner considers advisable and consistent with applicable law and rules.

(e) Based on the record of any hearing conducted pursuant to subsection (d) of this section, the commissioner shall determine whether all of the necessary conditions set forth in § 23-51-106(b) have been established and shall enter an order granting or denying the charter. The commissioner may make approval of any application conditional and shall include any conditions in the order granting the charter.

Amended by Act 2019, No. 315,§ 2568, eff. 7/24/2019.

Amended by Act 2019, No. 315,§ 2567, eff. 7/24/2019.

Acts 1997, No. 940, § 8.
Ark. Code Ann. § 23-68-109 — AR Code / Title 23 / Chapter 68 / Section 23-68-109
Grounds for ancillary liquidation - Foreign insurers
Status: in_force

The Insurance Commissioner may apply to the court for an order appointing him or her as ancillary receiver of and directing him or her to liquidate the business of a foreign insurer having assets, business, or claims in this state upon the appointment in the domiciliary state of the insurer of a receiver, liquidator, conservator, rehabilitator, or other officer by whatever name called for the purpose of liquidating the business of the insurer. Acts 1959, No. 148, § 646; A.S.A. 1947, § 66-4809.

The Insurance Commissioner may apply to the court for an order appointing him or her as ancillary receiver of and directing him or her to liquidate the business of a foreign insurer having assets, business, or claims in this state upon the appointment in the domiciliary state of the insurer of a receiver, liquidator, conservator, rehabilitator, or other officer by whatever name called for the purpose of liquidating the business of the insurer.

Acts 1959, No. 148, § 646; A.S.A. 1947, § 66-4809.