Ark. Code Ann. § 23-86-312 — AR Code / Title 23 / Chapter 86 / Subchapter 3 / Section 23-86-312
Guaranteed availability of coverage for employers in the small-group market
Status: in_force

(a) Issuance of Coverage in the Small-Group Market - In General. Subject to subsections (b)-(e) of this section, each health insurance issuer that offers health insurance coverage in the small-group market in Arkansas: (1) Must accept every small employer in Arkansas that applies for that health insurance coverage; and (2) Must accept for enrollment under the health insurance coverage every eligible individual as defined in § 23-86-303(8) who applies for enrollment during the period in which the individual first becomes eligible to enroll under the terms of the group health plan and may not place any restriction which is inconsistent with § 23-86-306 on an eligible individual's being a participant or beneficiary. (b) Special Rules for Network Plans. (1) In General. In the case of a health insurance issuer that offers health insurance coverage in the small-group market through a network plan, the health insurance issuer may: (A) Limit the employers that may apply for that health insurance coverage to those with eligible individuals who live, work, or reside in the service area for the network plan; and (B) Within the service area of the network plan, deny that health insurance coverage to the employers if the health insurance issuer has demonstrated, if required, to the Insurance Commissioner that: (i) It will not have the capacity to deliver services adequately to enrollees of any additional groups because of its obligations to existing group contract holders and enrollees; and (ii) It is applying this subsection uniformly to all employers without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents. (2) One-Hundred-Eighty-Day Suspension Upon Denial of Coverage. Upon denying health insurance coverage in any service area in accordance with subdivision (b)(1)(B) of this section, a health insurance issuer may not offer health insurance coverage in the small-group market within the service area in this state for a period of one hundred eighty (180) days after the date the health insurance coverage is denied. (c) Application of Financial Capacity Limits. (1) In General. A health insurance issuer may deny health insurance coverage in the small-group market in Arkansas if the health insurance issuer has demonstrated to the commissioner that: (A) It does not have the financial reserves necessary to underwrite additional health insurance coverage; and (B) It is applying this subdivision (c)(1) uniformly to all employers in the small-group market in Arkansas consistent with applicable Arkansas law and without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents. (2) One-Hundred-Eighty-Day Suspension Upon Denial of Health Insurance Coverage. (A) Upon denying health insurance coverage in connection with group health plans in accordance with subdivision (c)(1) of this section, a health insurance issuer in Arkansas may not offer health insurance coverage in connection with group health plans in the small-group market in this state for a period of one hundred eighty (180) days after the date the health insurance coverage is denied or until the health insurance issuer has demonstrated to the commissioner that the health insurance issuer has sufficient financial reserves to underwrite additional health insurance coverage, whichever is later. (B) The commissioner may provide for the application of this subsection on a service-area-specific basis. (d) Exception to Requirement for Failure to Meet Certain Minimum Participation or Contribution Rules - In General. Subsection (a) of this section shall not be construed to preclude a health insurance issuer from establishing employer contribution rules or group participation rules for the offering of health insurance coverage in connection with a group health plan in the small-group market, as allowed under Arkansas law. (e) Exception for Coverage Offered Only to Bona Fide Association Members. Subsection (a) of this section shall not apply to health insurance coverage offered by a health insurance issuer if the health insurance coverage is made available in the small-group market only through one (1) or more bona fide associations as defined in § 23-86-303(2) . Acts 1997, No. 997, § 1.

(a) Issuance of Coverage in the Small-Group Market - In General. Subject to subsections (b)-(e) of this section, each health insurance issuer that offers health insurance coverage in the small-group market in Arkansas: (1) Must accept every small employer in Arkansas that applies for that health insurance coverage; and (2) Must accept for enrollment under the health insurance coverage every eligible individual as defined in § 23-86-303(8) who applies for enrollment during the period in which the individual first becomes eligible to enroll under the terms of the group health plan and may not place any restriction which is inconsistent with § 23-86-306 on an eligible individual's being a participant or beneficiary.

(1) Must accept every small employer in Arkansas that applies for that health insurance coverage; and

(2) Must accept for enrollment under the health insurance coverage every eligible individual as defined in § 23-86-303(8) who applies for enrollment during the period in which the individual first becomes eligible to enroll under the terms of the group health plan and may not place any restriction which is inconsistent with § 23-86-306 on an eligible individual's being a participant or beneficiary.

(b) Special Rules for Network Plans. (1) In General. In the case of a health insurance issuer that offers health insurance coverage in the small-group market through a network plan, the health insurance issuer may: (A) Limit the employers that may apply for that health insurance coverage to those with eligible individuals who live, work, or reside in the service area for the network plan; and (B) Within the service area of the network plan, deny that health insurance coverage to the employers if the health insurance issuer has demonstrated, if required, to the Insurance Commissioner that: (i) It will not have the capacity to deliver services adequately to enrollees of any additional groups because of its obligations to existing group contract holders and enrollees; and (ii) It is applying this subsection uniformly to all employers without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents. (2) One-Hundred-Eighty-Day Suspension Upon Denial of Coverage. Upon denying health insurance coverage in any service area in accordance with subdivision (b)(1)(B) of this section, a health insurance issuer may not offer health insurance coverage in the small-group market within the service area in this state for a period of one hundred eighty (180) days after the date the health insurance coverage is denied.

(1) In General. In the case of a health insurance issuer that offers health insurance coverage in the small-group market through a network plan, the health insurance issuer may: (A) Limit the employers that may apply for that health insurance coverage to those with eligible individuals who live, work, or reside in the service area for the network plan; and (B) Within the service area of the network plan, deny that health insurance coverage to the employers if the health insurance issuer has demonstrated, if required, to the Insurance Commissioner that: (i) It will not have the capacity to deliver services adequately to enrollees of any additional groups because of its obligations to existing group contract holders and enrollees; and (ii) It is applying this subsection uniformly to all employers without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents.

(A) Limit the employers that may apply for that health insurance coverage to those with eligible individuals who live, work, or reside in the service area for the network plan; and

(B) Within the service area of the network plan, deny that health insurance coverage to the employers if the health insurance issuer has demonstrated, if required, to the Insurance Commissioner that: (i) It will not have the capacity to deliver services adequately to enrollees of any additional groups because of its obligations to existing group contract holders and enrollees; and (ii) It is applying this subsection uniformly to all employers without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents.

(i) It will not have the capacity to deliver services adequately to enrollees of any additional groups because of its obligations to existing group contract holders and enrollees; and

(ii) It is applying this subsection uniformly to all employers without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents.

(2) One-Hundred-Eighty-Day Suspension Upon Denial of Coverage. Upon denying health insurance coverage in any service area in accordance with subdivision (b)(1)(B) of this section, a health insurance issuer may not offer health insurance coverage in the small-group market within the service area in this state for a period of one hundred eighty (180) days after the date the health insurance coverage is denied.

(c) Application of Financial Capacity Limits. (1) In General. A health insurance issuer may deny health insurance coverage in the small-group market in Arkansas if the health insurance issuer has demonstrated to the commissioner that: (A) It does not have the financial reserves necessary to underwrite additional health insurance coverage; and (B) It is applying this subdivision (c)(1) uniformly to all employers in the small-group market in Arkansas consistent with applicable Arkansas law and without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents. (2) One-Hundred-Eighty-Day Suspension Upon Denial of Health Insurance Coverage. (A) Upon denying health insurance coverage in connection with group health plans in accordance with subdivision (c)(1) of this section, a health insurance issuer in Arkansas may not offer health insurance coverage in connection with group health plans in the small-group market in this state for a period of one hundred eighty (180) days after the date the health insurance coverage is denied or until the health insurance issuer has demonstrated to the commissioner that the health insurance issuer has sufficient financial reserves to underwrite additional health insurance coverage, whichever is later. (B) The commissioner may provide for the application of this subsection on a service-area-specific basis.

(1) In General. A health insurance issuer may deny health insurance coverage in the small-group market in Arkansas if the health insurance issuer has demonstrated to the commissioner that: (A) It does not have the financial reserves necessary to underwrite additional health insurance coverage; and (B) It is applying this subdivision (c)(1) uniformly to all employers in the small-group market in Arkansas consistent with applicable Arkansas law and without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents.

(A) It does not have the financial reserves necessary to underwrite additional health insurance coverage; and

(B) It is applying this subdivision (c)(1) uniformly to all employers in the small-group market in Arkansas consistent with applicable Arkansas law and without regard to the claims experience of those employers and their employees and their dependents or any health status-related factor relating to such employees and dependents.

(2) One-Hundred-Eighty-Day Suspension Upon Denial of Health Insurance Coverage. (A) Upon denying health insurance coverage in connection with group health plans in accordance with subdivision (c)(1) of this section, a health insurance issuer in Arkansas may not offer health insurance coverage in connection with group health plans in the small-group market in this state for a period of one hundred eighty (180) days after the date the health insurance coverage is denied or until the health insurance issuer has demonstrated to the commissioner that the health insurance issuer has sufficient financial reserves to underwrite additional health insurance coverage, whichever is later. (B) The commissioner may provide for the application of this subsection on a service-area-specific basis.

(A) Upon denying health insurance coverage in connection with group health plans in accordance with subdivision (c)(1) of this section, a health insurance issuer in Arkansas may not offer health insurance coverage in connection with group health plans in the small-group market in this state for a period of one hundred eighty (180) days after the date the health insurance coverage is denied or until the health insurance issuer has demonstrated to the commissioner that the health insurance issuer has sufficient financial reserves to underwrite additional health insurance coverage, whichever is later.

(B) The commissioner may provide for the application of this subsection on a service-area-specific basis.

(d) Exception to Requirement for Failure to Meet Certain Minimum Participation or Contribution Rules - In General. Subsection (a) of this section shall not be construed to preclude a health insurance issuer from establishing employer contribution rules or group participation rules for the offering of health insurance coverage in connection with a group health plan in the small-group market, as allowed under Arkansas law.

(e) Exception for Coverage Offered Only to Bona Fide Association Members. Subsection (a) of this section shall not apply to health insurance coverage offered by a health insurance issuer if the health insurance coverage is made available in the small-group market only through one (1) or more bona fide associations as defined in § 23-86-303(2) .

Acts 1997, No. 997, § 1.
Ark. Code Ann. § 23-13-710 — AR Code / Title 23 / Chapter 13 / Subchapter 7 / Section 23-13-710
Insurer disclosure requirements
Status: in_force

Before a transportation network company driver is allowed to accept a request for transportation network company services on the transportation network company's website, digital network, or software application, the transportation network company shall disclose in writing to the transportation network company drivers: (1) The motor vehicle liability insurance coverage and limits of liability that the transportation network company provides while the transportation network company driver uses a personal motor vehicle in connection with a transportation network company's website, digital network, or software application; and (2) That the transportation network company driver's own motor vehicle liability insurance policy may not provide coverage while the transportation network company driver uses a motor vehicle for transportation network company services. Added by Act 2015, No. 1050,§ 1, eff. 7/22/2015.

Before a transportation network company driver is allowed to accept a request for transportation network company services on the transportation network company's website, digital network, or software application, the transportation network company shall disclose in writing to the transportation network company drivers:

(1) The motor vehicle liability insurance coverage and limits of liability that the transportation network company provides while the transportation network company driver uses a personal motor vehicle in connection with a transportation network company's website, digital network, or software application; and

(2) That the transportation network company driver's own motor vehicle liability insurance policy may not provide coverage while the transportation network company driver uses a motor vehicle for transportation network company services.

Added by Act 2015, No. 1050,§ 1, eff. 7/22/2015.
Ark. Code Ann. § 23-48-314 — AR Code / Title 23 / Chapter 48 / Subchapter 3 / Section 23-48-314
Preemptive rights of stockholders
Status: in_force

(a) Unless otherwise provided by the articles of incorporation, every stockholder, upon the sale for cash of any new stock of the same class as that which he or she already holds, shall have the right to purchase his or her pro rata share thereof at a price not exceeding the price at which it may be offered to others, which price may be in excess of par. (b) (1) Where the articles of incorporation do not prohibit the preemptive rights, the terms and conditions of the rights, and the time limit fixed for the exercise thereof, may be prescribed in the articles of incorporation or, if not so prescribed in the articles of incorporation, then in the bylaws or in the resolution of the board of directors adopted in connection with the stock increase. (2) Provided, however, that for all state banks chartered after May 30, 1997, there shall be no preemptive rights in stockholders except as specified in the articles of incorporation. Acts 1997, No. 89, § 1.

(a) Unless otherwise provided by the articles of incorporation, every stockholder, upon the sale for cash of any new stock of the same class as that which he or she already holds, shall have the right to purchase his or her pro rata share thereof at a price not exceeding the price at which it may be offered to others, which price may be in excess of par.

(b) (1) Where the articles of incorporation do not prohibit the preemptive rights, the terms and conditions of the rights, and the time limit fixed for the exercise thereof, may be prescribed in the articles of incorporation or, if not so prescribed in the articles of incorporation, then in the bylaws or in the resolution of the board of directors adopted in connection with the stock increase. (2) Provided, however, that for all state banks chartered after May 30, 1997, there shall be no preemptive rights in stockholders except as specified in the articles of incorporation.

(1) Where the articles of incorporation do not prohibit the preemptive rights, the terms and conditions of the rights, and the time limit fixed for the exercise thereof, may be prescribed in the articles of incorporation or, if not so prescribed in the articles of incorporation, then in the bylaws or in the resolution of the board of directors adopted in connection with the stock increase.

(2) Provided, however, that for all state banks chartered after May 30, 1997, there shall be no preemptive rights in stockholders except as specified in the articles of incorporation.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-99-802 — AR Code / Title 23 / Chapter 99 / Subchapter 8 / Section 23-99-802
Definitions
Status: in_force

As used in this subchapter: (1) "Any willing provider law" means a law that prohibits discrimination against a provider willing to meet the terms and conditions for participation established by a health insurer or that otherwise precludes an insurer from prohibiting or limiting participation by a provider who is willing to accept a health insurer's terms and conditions for participation in the provision of services through a health benefit plan; (2) "ERISA" means the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et seq.; (3) "Health benefit plan" means any health insurance policy or certificate, health maintenance organization contract, hospital and medical service corporation contract or certificate, a self-insured plan or a plan provided by a multiple employer welfare arrangement, to the extent permitted by ERISA, the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et seq., or any health benefit plan that affects the rights of an Arkansas insured and bears a reasonable relation to Arkansas, whether delivered or issued for delivery in Arkansas; (4) "Healthcare provider" or "provider" means those individuals or entities licensed by the State of Arkansas to provide healthcare services, limited to the following: (A) Advanced practice nurses; (B) Athletic trainers; (C) Audiologists; (D) Certified behavioral health providers; (E) Certified orthotists; (F) Chiropractors; (G) Community mental health centers or clinics; (H) Dentists; (I) Home health care; (J) Hospice care; (K) Hospital-based services; (L) Hospitals; (M) Licensed ambulatory surgery centers; (N) Licensed certified social workers; (O) Licensed dieticians; (P) Licensed durable medical equipment providers; (Q) Licensed intellectual and developmental disabilities service providers; (R) Licensed professional counselors; (S) Licensed psychological examiners; (T) Long-term care facilities; (U) Occupational therapists; (V) Optometrists; (W) Pharmacists; (X) Physical therapists; (Y) Physicians and surgeons (M.D. and D.O.); (Z) Podiatrists; (AA) Prosthetists; (BB) Psychologists; (CC) Respiratory therapists; (DD) Rural health clinics; (EE) Speech pathologists; and (FF) Other healthcare practitioners as determined by the State Insurance Department in rules promulgated under the Arkansas Administrative Procedure Act, § 25-15-201 et seq.; (5) "Health insurer" or "healthcare insurer" means any entity that is authorized by the State of Arkansas to offer or provide health benefit plans, policies, subscriber contracts, or any other contracts of a similar nature which indemnify or compensate healthcare providers for the provision of healthcare services; (6) "Noninsurer" means an entity that is not required to obtain authorization from the department to do business as a health insurer but that does have a provider network; and (7) "Self-insured" includes self-funded and vice versa. Amended by Act 2019, No. 315,§ 2807, eff. 7/24/2019. Amended by Act 2019, No. 316,§ 2, eff. 7/24/2019. Acts 2005, No. 491, § 5; 2005, No. 2238, § 3.

As used in this subchapter:

(1) "Any willing provider law" means a law that prohibits discrimination against a provider willing to meet the terms and conditions for participation established by a health insurer or that otherwise precludes an insurer from prohibiting or limiting participation by a provider who is willing to accept a health insurer's terms and conditions for participation in the provision of services through a health benefit plan;

(2) "ERISA" means the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et seq.;

(3) "Health benefit plan" means any health insurance policy or certificate, health maintenance organization contract, hospital and medical service corporation contract or certificate, a self-insured plan or a plan provided by a multiple employer welfare arrangement, to the extent permitted by ERISA, the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et seq., or any health benefit plan that affects the rights of an Arkansas insured and bears a reasonable relation to Arkansas, whether delivered or issued for delivery in Arkansas;

(4) "Healthcare provider" or "provider" means those individuals or entities licensed by the State of Arkansas to provide healthcare services, limited to the following: (A) Advanced practice nurses; (B) Athletic trainers; (C) Audiologists; (D) Certified behavioral health providers; (E) Certified orthotists; (F) Chiropractors; (G) Community mental health centers or clinics; (H) Dentists; (I) Home health care; (J) Hospice care; (K) Hospital-based services; (L) Hospitals; (M) Licensed ambulatory surgery centers; (N) Licensed certified social workers; (O) Licensed dieticians; (P) Licensed durable medical equipment providers; (Q) Licensed intellectual and developmental disabilities service providers; (R) Licensed professional counselors; (S) Licensed psychological examiners; (T) Long-term care facilities; (U) Occupational therapists; (V) Optometrists; (W) Pharmacists; (X) Physical therapists; (Y) Physicians and surgeons (M.D. and D.O.); (Z) Podiatrists; (AA) Prosthetists; (BB) Psychologists; (CC) Respiratory therapists; (DD) Rural health clinics; (EE) Speech pathologists; and (FF) Other healthcare practitioners as determined by the State Insurance Department in rules promulgated under the Arkansas Administrative Procedure Act, § 25-15-201 et seq.;

(A) Advanced practice nurses;

(B) Athletic trainers;

(C) Audiologists;

(D) Certified behavioral health providers;

(E) Certified orthotists;

(F) Chiropractors;

(G) Community mental health centers or clinics;

(H) Dentists;

(I) Home health care;

(J) Hospice care;

(K) Hospital-based services;

(L) Hospitals;

(M) Licensed ambulatory surgery centers;

(N) Licensed certified social workers;

(O) Licensed dieticians;

(P) Licensed durable medical equipment providers;

(Q) Licensed intellectual and developmental disabilities service providers;

(R) Licensed professional counselors;

(S) Licensed psychological examiners;

(T) Long-term care facilities;

(U) Occupational therapists;

(V) Optometrists;

(W) Pharmacists;

(X) Physical therapists;

(Y) Physicians and surgeons (M.D. and D.O.);

(Z) Podiatrists;

(AA) Prosthetists;

(BB) Psychologists;

(CC) Respiratory therapists;

(DD) Rural health clinics;

(EE) Speech pathologists; and

(FF) Other healthcare practitioners as determined by the State Insurance Department in rules promulgated under the Arkansas Administrative Procedure Act, § 25-15-201 et seq.;

(5) "Health insurer" or "healthcare insurer" means any entity that is authorized by the State of Arkansas to offer or provide health benefit plans, policies, subscriber contracts, or any other contracts of a similar nature which indemnify or compensate healthcare providers for the provision of healthcare services;

(6) "Noninsurer" means an entity that is not required to obtain authorization from the department to do business as a health insurer but that does have a provider network; and

(7) "Self-insured" includes self-funded and vice versa.

Amended by Act 2019, No. 315,§ 2807, eff. 7/24/2019.

Amended by Act 2019, No. 316,§ 2, eff. 7/24/2019.

Acts 2005, No. 491, § 5; 2005, No. 2238, § 3.
Ark. Code Ann. § 23-14-111 — AR Code / Title 23 / Chapter 14 / Section 23-14-111
Temporary certificates
Status: in_force

The Arkansas Department of Transportation may grant temporary certificates without notice or hearing upon such terms and conditions as the department may prescribe, but not for a period exceeding one hundred eighty (180) days. Amended by Act 2017, No. 707,§ 241, eff. 8/1/2017. Acts 1945, No. 252, § 7; A.S.A. 1947, § 74-407.

The Arkansas Department of Transportation may grant temporary certificates without notice or hearing upon such terms and conditions as the department may prescribe, but not for a period exceeding one hundred eighty (180) days.

Amended by Act 2017, No. 707,§ 241, eff. 8/1/2017.

Acts 1945, No. 252, § 7; A.S.A. 1947, § 74-407.
Ark. Code Ann. § 23-95-102 — AR Code / Title 23 / Chapter 95 / Section 23-95-102
Construction
Status: in_force

This chapter shall be deemed cumulative of prior laws, and no prior law or part of a law shall be deemed to be in conflict with this chapter unless failure to so determine would prevent giving effect to an explicit provision of this chapter. Acts 1987, No. 896, § 10.

This chapter shall be deemed cumulative of prior laws, and no prior law or part of a law shall be deemed to be in conflict with this chapter unless failure to so determine would prevent giving effect to an explicit provision of this chapter.

Acts 1987, No. 896, § 10.
Ark. Code Ann. § 23-79-133 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-133
Exemption of proceeds - Accident and health insurance
Status: in_force

The proceeds or avails of all contracts of accident and health insurance and of provisions providing benefits on account of the insured's disability that are supplemental to life insurance or annuity contracts shall be exempt from all liability for any debt of the insured and from any debt of the beneficiary existing at the time the proceeds are made available for his or her use. Acts 1959, No. 148, § 297; A.S.A. 1947, § 66-3230; Acts 2001, No. 1604, § 100.

The proceeds or avails of all contracts of accident and health insurance and of provisions providing benefits on account of the insured's disability that are supplemental to life insurance or annuity contracts shall be exempt from all liability for any debt of the insured and from any debt of the beneficiary existing at the time the proceeds are made available for his or her use.

Acts 1959, No. 148, § 297; A.S.A. 1947, § 66-3230; Acts 2001, No. 1604, § 100.
Ark. Code Ann. § 23-51-136 — AR Code / Title 23 / Chapter 51 / Section 23-51-136
Hearing and decision on acquisition of control
Status: in_force

(a) Not later than sixty (60) days after the application is officially filed, the Bank Commissioner may approve the application or set the application for hearing. If the commissioner sets a hearing, the commissioner shall conduct a hearing as he or she considers advisable and consistent with governing statutes and rules. (b) Based on the record, the commissioner may issue an order denying an application if: (1) The acquisition would substantially lessen competition, be in restraint of trade, result in a monopoly, or be in furtherance of a combination or conspiracy to monopolize or attempt to monopolize the trust industry in any part of this state, unless: (A) The anticompetitive effects of the proposed acquisition are clearly outweighed in the public interest by the probable effect of acquisition in meeting the convenience and needs of the community to be served; and (B) The proposed acquisition is not in violation of law of this state or the United States; (2) The financial condition of the proposed transferee, or any member of a group composing the proposed transferee, might jeopardize the financial stability of the state trust company being acquired; (3) Plans or proposals to operate, liquidate, or sell the state trust company or its assets are not in the best interests of the state trust company; (4) The experience, ability, standing, competence, trustworthiness, and integrity of the proposed transferee, or any member of a group comprising the proposed transferee, are insufficient to justify a belief that the state trust company will be free from improper or unlawful influence or interference with respect to the state trust company's operation in compliance with law; (5) The state trust company will be insolvent, in a hazardous condition, not have adequate capitalization, or not be in compliance with the laws of this state after the acquisition; (6) The proposed transferee has failed to furnish all information pertinent to the application reasonably required by the commissioner; or (7) The proposed transferee is not acting in good faith. (c) If an application filed under this section is approved by the commissioner, the transaction may be consummated. Any written commitment from the proposed transferee offered to and accepted by the commissioner as a condition that the application will be approved is enforceable against the state trust company and the transferee and is considered for all purposes an agreement under this chapter. Amended by Act 2019, No. 315,§ 2591, eff. 7/24/2019. Acts 1997, No. 940, § 36.

(a) Not later than sixty (60) days after the application is officially filed, the Bank Commissioner may approve the application or set the application for hearing. If the commissioner sets a hearing, the commissioner shall conduct a hearing as he or she considers advisable and consistent with governing statutes and rules.

(b) Based on the record, the commissioner may issue an order denying an application if: (1) The acquisition would substantially lessen competition, be in restraint of trade, result in a monopoly, or be in furtherance of a combination or conspiracy to monopolize or attempt to monopolize the trust industry in any part of this state, unless: (A) The anticompetitive effects of the proposed acquisition are clearly outweighed in the public interest by the probable effect of acquisition in meeting the convenience and needs of the community to be served; and (B) The proposed acquisition is not in violation of law of this state or the United States; (2) The financial condition of the proposed transferee, or any member of a group composing the proposed transferee, might jeopardize the financial stability of the state trust company being acquired; (3) Plans or proposals to operate, liquidate, or sell the state trust company or its assets are not in the best interests of the state trust company; (4) The experience, ability, standing, competence, trustworthiness, and integrity of the proposed transferee, or any member of a group comprising the proposed transferee, are insufficient to justify a belief that the state trust company will be free from improper or unlawful influence or interference with respect to the state trust company's operation in compliance with law; (5) The state trust company will be insolvent, in a hazardous condition, not have adequate capitalization, or not be in compliance with the laws of this state after the acquisition; (6) The proposed transferee has failed to furnish all information pertinent to the application reasonably required by the commissioner; or (7) The proposed transferee is not acting in good faith.

(1) The acquisition would substantially lessen competition, be in restraint of trade, result in a monopoly, or be in furtherance of a combination or conspiracy to monopolize or attempt to monopolize the trust industry in any part of this state, unless: (A) The anticompetitive effects of the proposed acquisition are clearly outweighed in the public interest by the probable effect of acquisition in meeting the convenience and needs of the community to be served; and (B) The proposed acquisition is not in violation of law of this state or the United States;

(A) The anticompetitive effects of the proposed acquisition are clearly outweighed in the public interest by the probable effect of acquisition in meeting the convenience and needs of the community to be served; and

(B) The proposed acquisition is not in violation of law of this state or the United States;

(2) The financial condition of the proposed transferee, or any member of a group composing the proposed transferee, might jeopardize the financial stability of the state trust company being acquired;

(3) Plans or proposals to operate, liquidate, or sell the state trust company or its assets are not in the best interests of the state trust company;

(4) The experience, ability, standing, competence, trustworthiness, and integrity of the proposed transferee, or any member of a group comprising the proposed transferee, are insufficient to justify a belief that the state trust company will be free from improper or unlawful influence or interference with respect to the state trust company's operation in compliance with law;

(5) The state trust company will be insolvent, in a hazardous condition, not have adequate capitalization, or not be in compliance with the laws of this state after the acquisition;

(6) The proposed transferee has failed to furnish all information pertinent to the application reasonably required by the commissioner; or

(7) The proposed transferee is not acting in good faith.

(c) If an application filed under this section is approved by the commissioner, the transaction may be consummated. Any written commitment from the proposed transferee offered to and accepted by the commissioner as a condition that the application will be approved is enforceable against the state trust company and the transferee and is considered for all purposes an agreement under this chapter.

Amended by Act 2019, No. 315,§ 2591, eff. 7/24/2019.

Acts 1997, No. 940, § 36.
Ark. Code Ann. § 23-85-129 — AR Code / Title 23 / Chapter 85 / Section 23-85-129
Requirements of other jurisdictions
Status: in_force

(a) Any policy of a foreign or alien insurer, when delivered or issued for delivery to any person in this state, may contain any provision which is not less favorable to the insured or the beneficiary than the provisions of this chapter and which is prescribed or required by the law of the state or country under which the insurer is organized. (b) When issued for delivery in any other state or country, any policy of a domestic insurer may contain any provision permitted or required by the laws of the other state or country. Acts 1959, No. 148, § 415; A.S.A. 1947, § 66-3630.

(a) Any policy of a foreign or alien insurer, when delivered or issued for delivery to any person in this state, may contain any provision which is not less favorable to the insured or the beneficiary than the provisions of this chapter and which is prescribed or required by the law of the state or country under which the insurer is organized.

(b) When issued for delivery in any other state or country, any policy of a domestic insurer may contain any provision permitted or required by the laws of the other state or country.

Acts 1959, No. 148, § 415; A.S.A. 1947, § 66-3630.
Ark. Code Ann. § 23-10-102 — AR Code / Title 23 / Chapter 10 / Subchapter 1 / Section 23-10-102
Application of Acts 1887, No. 81 - Different railroad lines operated by same company
Status: in_force

Whenever any railroad corporation, as lessee or otherwise, operates any railroad in connection with its own road, the provisions of this act as to charges for transportation and carrying freight and passengers shall apply to the other road so operated in like manner as if the other road were a part of the line of road owned by the corporation operating the road, and for such purposes all lines of railroad operated by the same company shall be considered as one and the same road. Acts 1887, No. 81, § 10, p. 113; C. & M. Dig., § 859; Pope's Dig., § 1063; A.S.A. 1947, § 73-1508.

Whenever any railroad corporation, as lessee or otherwise, operates any railroad in connection with its own road, the provisions of this act as to charges for transportation and carrying freight and passengers shall apply to the other road so operated in like manner as if the other road were a part of the line of road owned by the corporation operating the road, and for such purposes all lines of railroad operated by the same company shall be considered as one and the same road.

Acts 1887, No. 81, § 10, p. 113; C. & M. Dig., § 859; Pope's Dig., § 1063; A.S.A. 1947, § 73-1508.
Ark. Code Ann. § 23-103-406 — AR Code / Title 23 / Chapter 103 / Subchapter 4 / Section 23-103-406
Title insurance agents - Examination of records
Status: in_force

The Insurance Commissioner or title insurer during normal business hours may examine, audit, and inspect any and all books, records, files, and escrow and operating accounts related to title insurance reports and policies maintained by a title insurance agency, its successor in interest, transferee, or receiver under this subchapter. Acts 2007, No. 684, § 6; 2009, No. 1190, § 4.

The Insurance Commissioner or title insurer during normal business hours may examine, audit, and inspect any and all books, records, files, and escrow and operating accounts related to title insurance reports and policies maintained by a title insurance agency, its successor in interest, transferee, or receiver under this subchapter.

Acts 2007, No. 684, § 6; 2009, No. 1190, § 4.
Ark. Code Ann. § 23-38-305 — AR Code / Title 23 / Chapter 38 / Subchapter 3 / Section 23-38-305
[Repealed]
Status: repealed

Repealed by Act 2013, No. 1144,§ 4, eff. 8/16/2013. Acts 1932 (2nd Ex. Sess.), No. 10, §§ 1-4, 6; Pope's Dig., §§ 1029-1032, 1034; A.S.A. 1947, §§ 67-851 -- 67-854, 67-856.

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

Acts 1932 (2nd Ex. Sess.), No. 10, §§ 1-4, 6; Pope's Dig., §§ 1029-1032, 1034; A.S.A. 1947, §§ 67-851 -- 67-854, 67-856.
Ark. Code Ann. § 23-115-1004 — AR Code / Title 23 / Chapter 115 / Subchapter 10 / Section 23-115-1004
List of debtors - Withholding winnings - Ranking of liens
Status: in_force

(a) (1) A claimant agency may submit to the Office of the Arkansas Lottery a list of the names of all debtors owing in excess of one hundred dollars ($100) to the claimant agency or to persons on whose behalf the claimant agency is acting. (2) The full amount of the debt is collectible from any prize without regard to limitations on the amounts that may be collectible in increments through garnishment or other proceedings. (3) The list shall constitute a valid lien upon and claim of lien against the prize of any debtor named in the list. (4) The list shall contain: (A) The name of each debtor; (B) The Social Security number of each debtor if available; and (C) Any other information that would assist the office in identifying each debtor named in the list. (b) (1) The office shall withhold any prizes subject to the lien created by this section and send notice to the winner by certified mail, return receipt requested, of the action and the reason the prizes were withheld. (2) (A) However, if the winner appears and claims prizes in person, the office shall notify the winner at that time by hand delivery of the action. (B) If the debtor does not protest the withholding of the prizes in writing within thirty (30) days of receipt of the notice, the office shall pay the prizes subject to the lien to the claimant agency. (C) If the debtor protests the withholding of the prizes subject to the lien within thirty (30) days of receipt of the notice, the office shall: (i) File an action in interpleader in the circuit court of the county where the debtor resides; (ii) Pay the disputed sum into the registry of the circuit court; and (iii) Give notice to the claimant agency and debtor of the initiation of the action. (c) The liens created by this section are ranked by priority as follows: (1) Taxes due the state; (2) Delinquent child support; and (3) All other judgments and liens in order of the date entered or perfected. (d) The office is not required to deduct claimed debts from prizes paid out by retailers or entities other than the office. (e) Any list of debt provided under this section shall be provided periodically as the office shall provide by rule, and the office is not obligated to retain the lists or deduct debts appearing on the lists beyond the period determined by the rules. (f) The office may prescribe forms and promulgate rules it deems necessary to implement this section. (g) The office and any claimant agency shall incur no civil or criminal liability for good faith adherence to this section. (h) The claimant agency shall pay the office for all costs incurred by the office in setting off debts in the manner provided in this subchapter. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) (1) A claimant agency may submit to the Office of the Arkansas Lottery a list of the names of all debtors owing in excess of one hundred dollars ($100) to the claimant agency or to persons on whose behalf the claimant agency is acting. (2) The full amount of the debt is collectible from any prize without regard to limitations on the amounts that may be collectible in increments through garnishment or other proceedings. (3) The list shall constitute a valid lien upon and claim of lien against the prize of any debtor named in the list. (4) The list shall contain: (A) The name of each debtor; (B) The Social Security number of each debtor if available; and (C) Any other information that would assist the office in identifying each debtor named in the list.

(1) A claimant agency may submit to the Office of the Arkansas Lottery a list of the names of all debtors owing in excess of one hundred dollars ($100) to the claimant agency or to persons on whose behalf the claimant agency is acting.

(2) The full amount of the debt is collectible from any prize without regard to limitations on the amounts that may be collectible in increments through garnishment or other proceedings.

(3) The list shall constitute a valid lien upon and claim of lien against the prize of any debtor named in the list.

(4) The list shall contain: (A) The name of each debtor; (B) The Social Security number of each debtor if available; and (C) Any other information that would assist the office in identifying each debtor named in the list.

(A) The name of each debtor;

(B) The Social Security number of each debtor if available; and

(C) Any other information that would assist the office in identifying each debtor named in the list.

(b) (1) The office shall withhold any prizes subject to the lien created by this section and send notice to the winner by certified mail, return receipt requested, of the action and the reason the prizes were withheld. (2) (A) However, if the winner appears and claims prizes in person, the office shall notify the winner at that time by hand delivery of the action. (B) If the debtor does not protest the withholding of the prizes in writing within thirty (30) days of receipt of the notice, the office shall pay the prizes subject to the lien to the claimant agency. (C) If the debtor protests the withholding of the prizes subject to the lien within thirty (30) days of receipt of the notice, the office shall: (i) File an action in interpleader in the circuit court of the county where the debtor resides; (ii) Pay the disputed sum into the registry of the circuit court; and (iii) Give notice to the claimant agency and debtor of the initiation of the action.

(1) The office shall withhold any prizes subject to the lien created by this section and send notice to the winner by certified mail, return receipt requested, of the action and the reason the prizes were withheld.

(2) (A) However, if the winner appears and claims prizes in person, the office shall notify the winner at that time by hand delivery of the action. (B) If the debtor does not protest the withholding of the prizes in writing within thirty (30) days of receipt of the notice, the office shall pay the prizes subject to the lien to the claimant agency. (C) If the debtor protests the withholding of the prizes subject to the lien within thirty (30) days of receipt of the notice, the office shall: (i) File an action in interpleader in the circuit court of the county where the debtor resides; (ii) Pay the disputed sum into the registry of the circuit court; and (iii) Give notice to the claimant agency and debtor of the initiation of the action.

(A) However, if the winner appears and claims prizes in person, the office shall notify the winner at that time by hand delivery of the action.

(B) If the debtor does not protest the withholding of the prizes in writing within thirty (30) days of receipt of the notice, the office shall pay the prizes subject to the lien to the claimant agency.

(C) If the debtor protests the withholding of the prizes subject to the lien within thirty (30) days of receipt of the notice, the office shall: (i) File an action in interpleader in the circuit court of the county where the debtor resides; (ii) Pay the disputed sum into the registry of the circuit court; and (iii) Give notice to the claimant agency and debtor of the initiation of the action.

(i) File an action in interpleader in the circuit court of the county where the debtor resides;

(ii) Pay the disputed sum into the registry of the circuit court; and

(iii) Give notice to the claimant agency and debtor of the initiation of the action.

(c) The liens created by this section are ranked by priority as follows: (1) Taxes due the state; (2) Delinquent child support; and (3) All other judgments and liens in order of the date entered or perfected.

(1) Taxes due the state;

(2) Delinquent child support; and

(3) All other judgments and liens in order of the date entered or perfected.

(d) The office is not required to deduct claimed debts from prizes paid out by retailers or entities other than the office.

(e) Any list of debt provided under this section shall be provided periodically as the office shall provide by rule, and the office is not obligated to retain the lists or deduct debts appearing on the lists beyond the period determined by the rules.

(f) The office may prescribe forms and promulgate rules it deems necessary to implement this section.

(g) The office and any claimant agency shall incur no civil or criminal liability for good faith adherence to this section.

(h) The claimant agency shall pay the office for all costs incurred by the office in setting off debts in the manner provided in this subchapter.

Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015.

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-54-105 — AR Code / Title 23 / Chapter 54 / Section 23-54-105
Treatment of loan proceeds
Status: in_force

To the extent that implementation of this section does not conflict with federal law: (1) Reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under programs of aid to individuals; and (2) Undisbursed reverse mortgage funds shall be treated as equity in the borrower's home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under programs of aid to individuals. Acts 2005, No. 2166, § 1.

To the extent that implementation of this section does not conflict with federal law:

(1) Reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under programs of aid to individuals; and

(2) Undisbursed reverse mortgage funds shall be treated as equity in the borrower's home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under programs of aid to individuals.

Acts 2005, No. 2166, § 1.
Ark. Code Ann. § 23-2-418 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-418
Records of proceedings and testimony
Status: in_force

(a) A full and complete record shall be kept of all proceedings had before the Arkansas Public Service Commission, the Arkansas Department of Transportation, any commissioner, or any examiner on any formal investigation. (b) All testimony shall be recorded by official reporters appointed by the commission or the department. Amended by Act 2017, No. 707,§ 102, eff. 8/1/2017. Acts 1935, No. 324, § 32; Pope's Dig., § 2095; Acts 1945, No. 40, § 2; A.S.A. 1947, §§ 73-127, 73-231.

(a) A full and complete record shall be kept of all proceedings had before the Arkansas Public Service Commission, the Arkansas Department of Transportation, any commissioner, or any examiner on any formal investigation.

(b) All testimony shall be recorded by official reporters appointed by the commission or the department.

Amended by Act 2017, No. 707,§ 102, eff. 8/1/2017.

Acts 1935, No. 324, § 32; Pope's Dig., § 2095; Acts 1945, No. 40, § 2; A.S.A. 1947, §§ 73-127, 73-231.
Ark. Code Ann. § 23-74-201 — AR Code / Title 23 / Chapter 74 / Subchapter 2 / Section 23-74-201
Qualifications for membership
Status: in_force

(a) A fraternal benefit society shall specify in its laws or rules: (1) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than fifteen (15) years of age and not greater than twenty-one (21) years of age; (2) The process for admission to membership for each membership class; and (3) The rights and privileges of each membership class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society. (b) A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society. (c) Membership rights in the society are personal to the member and are not assignable. Acts 1989, No. 881, § 1.

(a) A fraternal benefit society shall specify in its laws or rules: (1) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than fifteen (15) years of age and not greater than twenty-one (21) years of age; (2) The process for admission to membership for each membership class; and (3) The rights and privileges of each membership class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society.

(1) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than fifteen (15) years of age and not greater than twenty-one (21) years of age;

(2) The process for admission to membership for each membership class; and

(3) The rights and privileges of each membership class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society.

(b) A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society.

(c) Membership rights in the society are personal to the member and are not assignable.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-18-201 — AR Code / Title 23 / Chapter 18 / Subchapter 2 / Section 23-18-201
Jurisdiction of commission generally
Status: in_force

Electric cooperative corporations generating, manufacturing, purchasing, acquiring, transmitting, distributing, selling, furnishing, and disposing of electric power and energy in this state pursuant to the Electric Cooperative Corporation Act, § 23-18-301 et seq., shall be subject to the general jurisdiction of the Arkansas Public Service Commission in the same manner and to the same extent as provided by law for the regulation, supervision, or control of public utilities except as provided in this subchapter. Acts 1967, No. 234, § 1; A.S.A. 1947, § 73-202.1.

Electric cooperative corporations generating, manufacturing, purchasing, acquiring, transmitting, distributing, selling, furnishing, and disposing of electric power and energy in this state pursuant to the Electric Cooperative Corporation Act, § 23-18-301 et seq., shall be subject to the general jurisdiction of the Arkansas Public Service Commission in the same manner and to the same extent as provided by law for the regulation, supervision, or control of public utilities except as provided in this subchapter.

Acts 1967, No. 234, § 1; A.S.A. 1947, § 73-202.1.
Ark. Code Ann. § 23-3-510 — AR Code / Title 23 / Chapter 3 / Subchapter 5 / Section 23-3-510
Costs and expenses of proceedings - Damages
Status: in_force

The Arkansas Public Service Commission shall require the applicant to pay all costs and expenses of a proceeding under this subchapter. Acts 1961, No. 188, § 9; A.S.A. 1947, § 73-2209; Acts 1993, No. 344, § 2.

The Arkansas Public Service Commission shall require the applicant to pay all costs and expenses of a proceeding under this subchapter.

Acts 1961, No. 188, § 9; A.S.A. 1947, § 73-2209; Acts 1993, No. 344, § 2.
Ark. Code Ann. § 23-112-1017 — AR Code / Title 23 / Chapter 112 / Subchapter 10 / Section 23-112-1017
Damage to recreational vehicles before arrival at dealership
Status: in_force

(a) All the following apply if a new recreational vehicle is damaged before transit to the dealer or is damaged in transit to the dealer when the carrier or means of transportation has been selected by the manufacturer or distributor: (1) The dealer shall notify the manufacturer or distributor of the damage within the time frame specified in the dealer agreement and: (A) Request authorization from the manufacturer or distributor to replace the components, parts, and accessories damaged or otherwise correct the damage; or (B) Reject the vehicle within the time frame specified in the dealer agreement; (2) If the manufacturer or distributor refuses or fails to authorize repair of the damage within ten (10) days after receipt of notification or if the dealer rejects the recreational vehicle because of damage, ownership of the new recreational vehicle reverts to the manufacturer or distributor; and (3) The dealer shall exercise due care in custody of the damaged recreational vehicle, but the dealer has no other obligations, financial or otherwise, with respect to that recreational vehicle. (b) (1) A dealer agreement shall include a time frame for inspection and rejection by the dealer. (2) The time frame shall not be less than three (3) business days after the physical delivery of the recreational vehicle. (c) As used in this section, "damaged before transit" and "damaged in transit" do not include inspection or warranty repairs or service. (d) (1) A recreational vehicle that has at the time of delivery to the dealer an unreasonable number of miles on its odometer, as determined by the dealer, may be subject to rejection by the dealer and reversion of the vehicle to the manufacturer or distributor. (2) However, if the number of miles on the odometer of the recreational vehicle is less than the sum of the distance in miles between the dealer and the factory of the manufacturer or point of distribution plus one hundred (100) miles, the dealer shall not consider the number of miles on the odometer unreasonable. Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.

(a) All the following apply if a new recreational vehicle is damaged before transit to the dealer or is damaged in transit to the dealer when the carrier or means of transportation has been selected by the manufacturer or distributor: (1) The dealer shall notify the manufacturer or distributor of the damage within the time frame specified in the dealer agreement and: (A) Request authorization from the manufacturer or distributor to replace the components, parts, and accessories damaged or otherwise correct the damage; or (B) Reject the vehicle within the time frame specified in the dealer agreement; (2) If the manufacturer or distributor refuses or fails to authorize repair of the damage within ten (10) days after receipt of notification or if the dealer rejects the recreational vehicle because of damage, ownership of the new recreational vehicle reverts to the manufacturer or distributor; and (3) The dealer shall exercise due care in custody of the damaged recreational vehicle, but the dealer has no other obligations, financial or otherwise, with respect to that recreational vehicle.

(1) The dealer shall notify the manufacturer or distributor of the damage within the time frame specified in the dealer agreement and: (A) Request authorization from the manufacturer or distributor to replace the components, parts, and accessories damaged or otherwise correct the damage; or (B) Reject the vehicle within the time frame specified in the dealer agreement;

(A) Request authorization from the manufacturer or distributor to replace the components, parts, and accessories damaged or otherwise correct the damage; or

(B) Reject the vehicle within the time frame specified in the dealer agreement;

(2) If the manufacturer or distributor refuses or fails to authorize repair of the damage within ten (10) days after receipt of notification or if the dealer rejects the recreational vehicle because of damage, ownership of the new recreational vehicle reverts to the manufacturer or distributor; and

(3) The dealer shall exercise due care in custody of the damaged recreational vehicle, but the dealer has no other obligations, financial or otherwise, with respect to that recreational vehicle.

(b) (1) A dealer agreement shall include a time frame for inspection and rejection by the dealer. (2) The time frame shall not be less than three (3) business days after the physical delivery of the recreational vehicle.

(1) A dealer agreement shall include a time frame for inspection and rejection by the dealer.

(2) The time frame shall not be less than three (3) business days after the physical delivery of the recreational vehicle.

(c) As used in this section, "damaged before transit" and "damaged in transit" do not include inspection or warranty repairs or service.

(d) (1) A recreational vehicle that has at the time of delivery to the dealer an unreasonable number of miles on its odometer, as determined by the dealer, may be subject to rejection by the dealer and reversion of the vehicle to the manufacturer or distributor. (2) However, if the number of miles on the odometer of the recreational vehicle is less than the sum of the distance in miles between the dealer and the factory of the manufacturer or point of distribution plus one hundred (100) miles, the dealer shall not consider the number of miles on the odometer unreasonable.

(1) A recreational vehicle that has at the time of delivery to the dealer an unreasonable number of miles on its odometer, as determined by the dealer, may be subject to rejection by the dealer and reversion of the vehicle to the manufacturer or distributor.

(2) However, if the number of miles on the odometer of the recreational vehicle is less than the sum of the distance in miles between the dealer and the factory of the manufacturer or point of distribution plus one hundred (100) miles, the dealer shall not consider the number of miles on the odometer unreasonable.

Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.
Ark. Code Ann. § 23-74-604 — AR Code / Title 23 / Chapter 74 / Subchapter 6 / Section 23-74-604
Examination of societies - No adverse publications
Status: in_force

(a) (1) The Insurance Commissioner, or any person he or she may appoint, may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign, or alien insurers. (2) Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies. (b) The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined, or whose certificates are valued, upon statements furnished by the commissioner. Acts 1989, No. 881, § 1.

(a) (1) The Insurance Commissioner, or any person he or she may appoint, may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign, or alien insurers. (2) Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies.

(1) The Insurance Commissioner, or any person he or she may appoint, may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign, or alien insurers.

(2) Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies.

(b) The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined, or whose certificates are valued, upon statements furnished by the commissioner.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-74-502 — AR Code / Title 23 / Chapter 74 / Subchapter 5 / Section 23-74-502
Funds
Status: in_force

(a) All assets shall be held, invested, and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit contract. (b) A society may create, maintain, invest, disburse, and apply any special fund or funds necessary to carry out any purpose permitted by the laws of the society. (c) (1) Pursuant to resolution of its supreme governing body, a society may establish and operate one (1) or more separate accounts and issue contracts on a variable basis, subject to the provisions of law regulating life insurers establishing such accounts and issuing such contracts as provided in § 23-81-401 et seq. (2) To the extent the society deems it necessary in order to comply with any applicable federal or state laws, or any rules issued thereunder, the society may: (A) Adopt special procedures for the conduct of the business and affairs of a separate account; (B) For persons having beneficial interests therein, provide special voting and other rights, including, without limitation, special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account; and (C) Issue contracts on a variable basis to which § 23-74-404(b) and (d) shall not apply. Acts 1989, No. 881, § 1.

(a) All assets shall be held, invested, and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit contract.

(b) A society may create, maintain, invest, disburse, and apply any special fund or funds necessary to carry out any purpose permitted by the laws of the society.

(c) (1) Pursuant to resolution of its supreme governing body, a society may establish and operate one (1) or more separate accounts and issue contracts on a variable basis, subject to the provisions of law regulating life insurers establishing such accounts and issuing such contracts as provided in § 23-81-401 et seq. (2) To the extent the society deems it necessary in order to comply with any applicable federal or state laws, or any rules issued thereunder, the society may: (A) Adopt special procedures for the conduct of the business and affairs of a separate account; (B) For persons having beneficial interests therein, provide special voting and other rights, including, without limitation, special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account; and (C) Issue contracts on a variable basis to which § 23-74-404(b) and (d) shall not apply.

(1) Pursuant to resolution of its supreme governing body, a society may establish and operate one (1) or more separate accounts and issue contracts on a variable basis, subject to the provisions of law regulating life insurers establishing such accounts and issuing such contracts as provided in § 23-81-401 et seq.

(2) To the extent the society deems it necessary in order to comply with any applicable federal or state laws, or any rules issued thereunder, the society may: (A) Adopt special procedures for the conduct of the business and affairs of a separate account; (B) For persons having beneficial interests therein, provide special voting and other rights, including, without limitation, special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account; and (C) Issue contracts on a variable basis to which § 23-74-404(b) and (d) shall not apply.

(A) Adopt special procedures for the conduct of the business and affairs of a separate account;

(B) For persons having beneficial interests therein, provide special voting and other rights, including, without limitation, special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account; and

(C) Issue contracts on a variable basis to which § 23-74-404(b) and (d) shall not apply.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-103-417 — AR Code / Title 23 / Chapter 103 / Subchapter 4 / Section 23-103-417
Access to public records
Status: in_force

(a) A title insurance agent, a title insurance agency, and a person affiliated with a title insurance agency shall: (1) Have free access to the instruments of record affecting real property filed in any city, county, or state office; and (2) Be permitted to: (A) Occupy reasonable space, use equipment, and make memoranda, notations, and copies of instruments of record during the business hours of the city, county, or state office; and (B) Compile, post, copy, and maintain books, records, and indices. (b) (1) A title insurance agent, a title insurance agency, and a person affiliated with a title insurance agency has the right of access to any instrument filed of record in a city, county, or state office no later than the close of business of the first business day following the day the instrument was filed. (2) A fee shall not be charged for providing access to the instrument. (c) As used in this section, "access" means possession of an instrument sufficient to mechanically reproduce the instrument in the office where the instrument is filed. (d) (1) A person entitled to access under this section that is denied access may petition immediately to a circuit court of competent jurisdiction. (2) Upon written complaint of a person or an interested party denied a right provided by this section, the circuit court having jurisdiction shall hear the complaint within seven (7) days of the date the complaint is filed. (3) (A) In an action or appeal of an action to enforce the rights granted by this section, the court shall assess against a losing party reasonable attorney's fees and other litigation expenses reasonably incurred by a party that has substantially prevailed unless the court finds that the position of the losing party was substantially justified or that other circumstances make an award of attorney's fees and other litigation expenses unjust. (B) Expenses shall not be assessed against the State of Arkansas or any of its agencies or departments. (C) If at trial a defendant has substantially prevailed in the action, the court may assess attorney's fees and litigation expenses against a plaintiff only upon a finding that the action was initiated primarily for frivolous or dilatory purposes. Acts 2009, No. 1190, § 13.

(a) A title insurance agent, a title insurance agency, and a person affiliated with a title insurance agency shall: (1) Have free access to the instruments of record affecting real property filed in any city, county, or state office; and (2) Be permitted to: (A) Occupy reasonable space, use equipment, and make memoranda, notations, and copies of instruments of record during the business hours of the city, county, or state office; and (B) Compile, post, copy, and maintain books, records, and indices.

(1) Have free access to the instruments of record affecting real property filed in any city, county, or state office; and

(2) Be permitted to: (A) Occupy reasonable space, use equipment, and make memoranda, notations, and copies of instruments of record during the business hours of the city, county, or state office; and (B) Compile, post, copy, and maintain books, records, and indices.

(A) Occupy reasonable space, use equipment, and make memoranda, notations, and copies of instruments of record during the business hours of the city, county, or state office; and

(B) Compile, post, copy, and maintain books, records, and indices.

(b) (1) A title insurance agent, a title insurance agency, and a person affiliated with a title insurance agency has the right of access to any instrument filed of record in a city, county, or state office no later than the close of business of the first business day following the day the instrument was filed. (2) A fee shall not be charged for providing access to the instrument.

(1) A title insurance agent, a title insurance agency, and a person affiliated with a title insurance agency has the right of access to any instrument filed of record in a city, county, or state office no later than the close of business of the first business day following the day the instrument was filed.

(2) A fee shall not be charged for providing access to the instrument.

(c) As used in this section, "access" means possession of an instrument sufficient to mechanically reproduce the instrument in the office where the instrument is filed.

(d) (1) A person entitled to access under this section that is denied access may petition immediately to a circuit court of competent jurisdiction. (2) Upon written complaint of a person or an interested party denied a right provided by this section, the circuit court having jurisdiction shall hear the complaint within seven (7) days of the date the complaint is filed. (3) (A) In an action or appeal of an action to enforce the rights granted by this section, the court shall assess against a losing party reasonable attorney's fees and other litigation expenses reasonably incurred by a party that has substantially prevailed unless the court finds that the position of the losing party was substantially justified or that other circumstances make an award of attorney's fees and other litigation expenses unjust. (B) Expenses shall not be assessed against the State of Arkansas or any of its agencies or departments. (C) If at trial a defendant has substantially prevailed in the action, the court may assess attorney's fees and litigation expenses against a plaintiff only upon a finding that the action was initiated primarily for frivolous or dilatory purposes.

(1) A person entitled to access under this section that is denied access may petition immediately to a circuit court of competent jurisdiction.

(2) Upon written complaint of a person or an interested party denied a right provided by this section, the circuit court having jurisdiction shall hear the complaint within seven (7) days of the date the complaint is filed.

(3) (A) In an action or appeal of an action to enforce the rights granted by this section, the court shall assess against a losing party reasonable attorney's fees and other litigation expenses reasonably incurred by a party that has substantially prevailed unless the court finds that the position of the losing party was substantially justified or that other circumstances make an award of attorney's fees and other litigation expenses unjust. (B) Expenses shall not be assessed against the State of Arkansas or any of its agencies or departments. (C) If at trial a defendant has substantially prevailed in the action, the court may assess attorney's fees and litigation expenses against a plaintiff only upon a finding that the action was initiated primarily for frivolous or dilatory purposes.

(A) In an action or appeal of an action to enforce the rights granted by this section, the court shall assess against a losing party reasonable attorney's fees and other litigation expenses reasonably incurred by a party that has substantially prevailed unless the court finds that the position of the losing party was substantially justified or that other circumstances make an award of attorney's fees and other litigation expenses unjust.

(B) Expenses shall not be assessed against the State of Arkansas or any of its agencies or departments.

(C) If at trial a defendant has substantially prevailed in the action, the court may assess attorney's fees and litigation expenses against a plaintiff only upon a finding that the action was initiated primarily for frivolous or dilatory purposes.

Acts 2009, No. 1190, § 13.
Ark. Code Ann. § 23-67-506 — AR Code / Title 23 / Chapter 67 / Subchapter 5 / Section 23-67-506
Review of filings
Status: in_force

(a) All malpractice rate filings shall remain on file for public inspection. (b) Whenever a malpractice insurer files a proposed overall rate increase of twenty percent (20%) or greater, it shall: (1) Publish notice of the filing for three (3) consecutive business days in a newspaper of general circulation in this state; and (2) Furnish proof of notice to the Insurance Commissioner. (c) The commissioner may hold a hearing on any malpractice rate increase filing. (d) The commissioner shall approve or disapprove all malpractice rate filings subject to the standards for rates under § 23-67-502 within sixty (60) days after the date of the filing. (e) Notwithstanding subsection (d) of this section, the commissioner may approve an excessive rate if he or she finds that the failure to approve the rate may tend to substantially lessen competition in the Arkansas malpractice insurance market. Acts 2005, No. 1697, § 19.

(a) All malpractice rate filings shall remain on file for public inspection.

(b) Whenever a malpractice insurer files a proposed overall rate increase of twenty percent (20%) or greater, it shall: (1) Publish notice of the filing for three (3) consecutive business days in a newspaper of general circulation in this state; and (2) Furnish proof of notice to the Insurance Commissioner.

(1) Publish notice of the filing for three (3) consecutive business days in a newspaper of general circulation in this state; and

(2) Furnish proof of notice to the Insurance Commissioner.

(c) The commissioner may hold a hearing on any malpractice rate increase filing.

(d) The commissioner shall approve or disapprove all malpractice rate filings subject to the standards for rates under § 23-67-502 within sixty (60) days after the date of the filing.

(e) Notwithstanding subsection (d) of this section, the commissioner may approve an excessive rate if he or she finds that the failure to approve the rate may tend to substantially lessen competition in the Arkansas malpractice insurance market.

Acts 2005, No. 1697, § 19.
Ark. Code Ann. § 23-110-302 — AR Code / Title 23 / Chapter 110 / Subchapter 3 / Section 23-110-302
Application - Issuance of temporary franchise - Hearing and appeal
Status: in_force

(a) Any corporation desiring a franchise to conduct horse racing in any county in which a current franchise for horse racing is not held by another shall file its application therefor with the Arkansas Racing Commission and deposit with the commission the sum of five thousand dollars ($5,000) to cover the expenses of publishing legal notices and to pay a pro rata part of the costs of the general election, as provided in this chapter. (b) The application shall set forth: (1) The name of the corporation and the address of its principal office; (2) The names and addresses of all of the corporation's officers, directors, and stockholders; (3) The name and address of the corporation's agent for service of process; (4) The corporation's latest financial statements; (5) The estimated amount of funds which the corporation proposes to spend for the acquisition of a site, the construction thereon of buildings and facilities, and the purchase of equipment for conducting racing meets; (6) Copies of architectural plans and specifications for the buildings and facilities; and (7) Such other information and requirements as the commission shall determine as being necessary to enable it to pass upon the application. (c) (1) (A) Immediately upon the filing of each application, the commission shall: (i) Investigate the personal background and financial responsibility of the officers, directors, and principal stockholders of the corporation; (ii) Examine the plans and specifications of the buildings and facilities proposed to be constructed; and (iii) Take into consideration such other facts and conditions as it shall find necessary or desirable in the premises. (B) Within ninety (90) days after the date of the filing of any application, the commission shall grant, or refuse to grant, a temporary franchise to the corporation. (2) However, in all instances the commission shall give the applicant and all others who shall have filed written requests to be heard on the question not less than ten (10) days' notice of the date it proposes to formally consider the application, and all interested parties shall have the right to appear before the commission and be heard. The commission shall make a record of its proceeding at each hearing. (d) (1) Should the commission refuse to grant a temporary franchise, it shall set forth in writing its reasons for the refusal. A copy of the writing shall immediately be sent to the applicant by registered United States mail to the address named in the application. (2) Within sixty (60) days after the date of any refusal, the applicant may file with the commission amendments to the application for the purpose of overcoming any of the objections on which the commission based its refusal to grant a temporary franchise. Within thirty (30) days after receipt of any amendments, the commission shall either confirm its original refusal, or it may grant a temporary franchise. (3) Either within twenty (20) days following the date of original refusal or within twenty (20) days following the date of refusal after the filing of any amendments, the applicant may appeal to Pulaski County Circuit Court. The appeal shall be tried de novo on the record of the hearing before the commission. (4) An appeal may be taken by the commission or by the applicant from the circuit court to the Supreme Court, which shall likewise be tried de novo. (5) The mandate of the court shall be filed with the commission. (e) (1) Should the commission grant a temporary franchise on its own motion or based upon the decision of the court, then the fact of the grant shall be certified by the commission to the Secretary of State, and the five thousand dollars ($5,000) deposited with it under the provisions of subsection (a) of this section shall be paid over to the Secretary of State by the commission. (2) Should a temporary franchise not be granted under this section, the funds deposited with the commission under subsection (a) of this section shall be refunded to the corporation by the commission. Acts 1957, No. 46, § 12; 1965 (2nd Ex. Sess.), No. 8, § 2; A.S.A.1947, § 84-2738.

(a) Any corporation desiring a franchise to conduct horse racing in any county in which a current franchise for horse racing is not held by another shall file its application therefor with the Arkansas Racing Commission and deposit with the commission the sum of five thousand dollars ($5,000) to cover the expenses of publishing legal notices and to pay a pro rata part of the costs of the general election, as provided in this chapter.

(b) The application shall set forth: (1) The name of the corporation and the address of its principal office; (2) The names and addresses of all of the corporation's officers, directors, and stockholders; (3) The name and address of the corporation's agent for service of process; (4) The corporation's latest financial statements; (5) The estimated amount of funds which the corporation proposes to spend for the acquisition of a site, the construction thereon of buildings and facilities, and the purchase of equipment for conducting racing meets; (6) Copies of architectural plans and specifications for the buildings and facilities; and (7) Such other information and requirements as the commission shall determine as being necessary to enable it to pass upon the application.

(1) The name of the corporation and the address of its principal office;

(2) The names and addresses of all of the corporation's officers, directors, and stockholders;

(3) The name and address of the corporation's agent for service of process;

(4) The corporation's latest financial statements;

(5) The estimated amount of funds which the corporation proposes to spend for the acquisition of a site, the construction thereon of buildings and facilities, and the purchase of equipment for conducting racing meets;

(6) Copies of architectural plans and specifications for the buildings and facilities; and

(7) Such other information and requirements as the commission shall determine as being necessary to enable it to pass upon the application.

(c) (1) (A) Immediately upon the filing of each application, the commission shall: (i) Investigate the personal background and financial responsibility of the officers, directors, and principal stockholders of the corporation; (ii) Examine the plans and specifications of the buildings and facilities proposed to be constructed; and (iii) Take into consideration such other facts and conditions as it shall find necessary or desirable in the premises. (B) Within ninety (90) days after the date of the filing of any application, the commission shall grant, or refuse to grant, a temporary franchise to the corporation. (2) However, in all instances the commission shall give the applicant and all others who shall have filed written requests to be heard on the question not less than ten (10) days' notice of the date it proposes to formally consider the application, and all interested parties shall have the right to appear before the commission and be heard. The commission shall make a record of its proceeding at each hearing.

(1) (A) Immediately upon the filing of each application, the commission shall: (i) Investigate the personal background and financial responsibility of the officers, directors, and principal stockholders of the corporation; (ii) Examine the plans and specifications of the buildings and facilities proposed to be constructed; and (iii) Take into consideration such other facts and conditions as it shall find necessary or desirable in the premises. (B) Within ninety (90) days after the date of the filing of any application, the commission shall grant, or refuse to grant, a temporary franchise to the corporation.

(A) Immediately upon the filing of each application, the commission shall: (i) Investigate the personal background and financial responsibility of the officers, directors, and principal stockholders of the corporation; (ii) Examine the plans and specifications of the buildings and facilities proposed to be constructed; and (iii) Take into consideration such other facts and conditions as it shall find necessary or desirable in the premises.

(i) Investigate the personal background and financial responsibility of the officers, directors, and principal stockholders of the corporation;

(ii) Examine the plans and specifications of the buildings and facilities proposed to be constructed; and

(iii) Take into consideration such other facts and conditions as it shall find necessary or desirable in the premises.

(B) Within ninety (90) days after the date of the filing of any application, the commission shall grant, or refuse to grant, a temporary franchise to the corporation.

(2) However, in all instances the commission shall give the applicant and all others who shall have filed written requests to be heard on the question not less than ten (10) days' notice of the date it proposes to formally consider the application, and all interested parties shall have the right to appear before the commission and be heard. The commission shall make a record of its proceeding at each hearing.

(d) (1) Should the commission refuse to grant a temporary franchise, it shall set forth in writing its reasons for the refusal. A copy of the writing shall immediately be sent to the applicant by registered United States mail to the address named in the application. (2) Within sixty (60) days after the date of any refusal, the applicant may file with the commission amendments to the application for the purpose of overcoming any of the objections on which the commission based its refusal to grant a temporary franchise. Within thirty (30) days after receipt of any amendments, the commission shall either confirm its original refusal, or it may grant a temporary franchise. (3) Either within twenty (20) days following the date of original refusal or within twenty (20) days following the date of refusal after the filing of any amendments, the applicant may appeal to Pulaski County Circuit Court. The appeal shall be tried de novo on the record of the hearing before the commission. (4) An appeal may be taken by the commission or by the applicant from the circuit court to the Supreme Court, which shall likewise be tried de novo. (5) The mandate of the court shall be filed with the commission.

(1) Should the commission refuse to grant a temporary franchise, it shall set forth in writing its reasons for the refusal. A copy of the writing shall immediately be sent to the applicant by registered United States mail to the address named in the application.

(2) Within sixty (60) days after the date of any refusal, the applicant may file with the commission amendments to the application for the purpose of overcoming any of the objections on which the commission based its refusal to grant a temporary franchise. Within thirty (30) days after receipt of any amendments, the commission shall either confirm its original refusal, or it may grant a temporary franchise.

(3) Either within twenty (20) days following the date of original refusal or within twenty (20) days following the date of refusal after the filing of any amendments, the applicant may appeal to Pulaski County Circuit Court. The appeal shall be tried de novo on the record of the hearing before the commission.

(4) An appeal may be taken by the commission or by the applicant from the circuit court to the Supreme Court, which shall likewise be tried de novo.

(5) The mandate of the court shall be filed with the commission.

(e) (1) Should the commission grant a temporary franchise on its own motion or based upon the decision of the court, then the fact of the grant shall be certified by the commission to the Secretary of State, and the five thousand dollars ($5,000) deposited with it under the provisions of subsection (a) of this section shall be paid over to the Secretary of State by the commission. (2) Should a temporary franchise not be granted under this section, the funds deposited with the commission under subsection (a) of this section shall be refunded to the corporation by the commission.

(1) Should the commission grant a temporary franchise on its own motion or based upon the decision of the court, then the fact of the grant shall be certified by the commission to the Secretary of State, and the five thousand dollars ($5,000) deposited with it under the provisions of subsection (a) of this section shall be paid over to the Secretary of State by the commission.

(2) Should a temporary franchise not be granted under this section, the funds deposited with the commission under subsection (a) of this section shall be refunded to the corporation by the commission.

Acts 1957, No. 46, § 12; 1965 (2nd Ex. Sess.), No. 8, § 2; A.S.A.1947, § 84-2738.
Ark. Code Ann. § 23-114-301 — AR Code / Title 23 / Chapter 114 / Subchapter 3 / Section 23-114-301
Authorized organization license
Status: in_force

The Department of Finance and Administration may license an entity that is an authorized organization. Acts 2007, No. 388, § 1.

The Department of Finance and Administration may license an entity that is an authorized organization.

Acts 2007, No. 388, § 1.
Ark. Code Ann. § 23-32-509 — AR Code / Title 23 / Chapter 32 / Subchapter 5 / Section 23-32-509
Effect on other laws
Status: in_force

This subchapter is supplemental to all laws pertaining to the deposit of funds in financial institutions. Acts 1997, No. 85, § 9.

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

Acts 1997, No. 85, § 9.
Ark. Code Ann. § 23-99-1106 — AR Code / Title 23 / Chapter 99 / Subchapter 11 / Section 23-99-1106
Prior authorization - Urgent healthcare service
Status: in_force

(a) A utilization review entity shall render an expedited authorization or adverse determination concerning an urgent healthcare service and notify the subscriber and the subscriber's healthcare provider of that expedited prior authorization or adverse determination no later than one (1) business day after receiving all information needed to complete the review of the requested urgent healthcare service. (b) (1) If a utilization review entity denies a prior authorization of an urgent healthcare service, then the subscriber or the healthcare provider may elect to appeal the denial of the prior authorization of the urgent healthcare service. (2) If a denial of a prior authorization of an urgent healthcare service is appealed to the utilization review entity, then within two (2) business days of receiving all necessary information required, the utilization review entity shall: (A) Make an authorization or adverse determination; and (B) Notify the subscriber and the healthcare provider that appealed the denial of the prior authorization of the urgent healthcare service of the decision. (3) This subsection applies to an enrollee who is being evaluated or treated for: (A) A hematology diagnosis; (B) An oncology diagnosis; or (C) An additional disease state or other diagnoses that the Insurance Commissioner may include by rule. Amended by Act 2023, No. 501,§ 3, eff. 8/1/2023. Added by Act 2015, No. 1106,§ 2, eff. 7/22/2015.

(a) A utilization review entity shall render an expedited authorization or adverse determination concerning an urgent healthcare service and notify the subscriber and the subscriber's healthcare provider of that expedited prior authorization or adverse determination no later than one (1) business day after receiving all information needed to complete the review of the requested urgent healthcare service.

(b) (1) If a utilization review entity denies a prior authorization of an urgent healthcare service, then the subscriber or the healthcare provider may elect to appeal the denial of the prior authorization of the urgent healthcare service. (2) If a denial of a prior authorization of an urgent healthcare service is appealed to the utilization review entity, then within two (2) business days of receiving all necessary information required, the utilization review entity shall: (A) Make an authorization or adverse determination; and (B) Notify the subscriber and the healthcare provider that appealed the denial of the prior authorization of the urgent healthcare service of the decision. (3) This subsection applies to an enrollee who is being evaluated or treated for: (A) A hematology diagnosis; (B) An oncology diagnosis; or (C) An additional disease state or other diagnoses that the Insurance Commissioner may include by rule.

(1) If a utilization review entity denies a prior authorization of an urgent healthcare service, then the subscriber or the healthcare provider may elect to appeal the denial of the prior authorization of the urgent healthcare service.

(2) If a denial of a prior authorization of an urgent healthcare service is appealed to the utilization review entity, then within two (2) business days of receiving all necessary information required, the utilization review entity shall: (A) Make an authorization or adverse determination; and (B) Notify the subscriber and the healthcare provider that appealed the denial of the prior authorization of the urgent healthcare service of the decision.

(A) Make an authorization or adverse determination; and

(B) Notify the subscriber and the healthcare provider that appealed the denial of the prior authorization of the urgent healthcare service of the decision.

(3) This subsection applies to an enrollee who is being evaluated or treated for: (A) A hematology diagnosis; (B) An oncology diagnosis; or (C) An additional disease state or other diagnoses that the Insurance Commissioner may include by rule.

(A) A hematology diagnosis;

(B) An oncology diagnosis; or

(C) An additional disease state or other diagnoses that the Insurance Commissioner may include by rule.

Amended by Act 2023, No. 501,§ 3, eff. 8/1/2023.

Added by Act 2015, No. 1106,§ 2, eff. 7/22/2015.
Ark. Code Ann. § 23-99-503 — AR Code / Title 23 / Chapter 99 / Subchapter 5 / Section 23-99-503
Definitions
Status: in_force

As used in this subchapter: (1) "Carve-out arrangement" means an arrangement in which a healthcare insurer contracts with a separate person or entity to arrange for the delivery of specific types of healthcare benefits under a health benefit plan; (2) "Commissioner" means the Insurance Commissioner; (3) "Financial requirements" means copayments, deductibles, out-of-network charges, out-of-pocket contributions or fees, annual limits, lifetime aggregate limits imposed on individual patients, and other patient cost-sharing amounts; (4) "Health benefit plan" means any group or blanket plan, policy, or contract for healthcare services issued or delivered in this state by healthcare insurers, including indemnity and managed care plans and the plans providing health benefits to state and public school employees pursuant to § 21-5-401 et seq., but excluding plans providing health care services pursuant to Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (5) "Healthcare insurer" means any insurance company, hospital and medical service corporation, or health maintenance organization issuing or delivering health benefit plans in this state and subject to any of the following laws: (A) The Arkansas Insurance Code; (B) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; (C) Section 23-76-101 et seq., pertaining to health maintenance organizations; and (D) Any successor law of the foregoing; (6) (A) "Mental illnesses" and "substance use disorders" mean those illnesses and disorders that are covered by a health benefit plan listed in the International Classification of Diseases manual and the Diagnostic and Statistical Manual of Mental Disorders. (B) Unless specifically otherwise stated, "mental illness" includes substance use disorders; (7) "Person" or "entity" means and includes, individually and collectively, any individual, corporation, partnership, firm, trust, association, voluntary organization, or any other form of business enterprise or legal entity; and (8) "Small employer" means any person or entity actively engaged in business who, on at least fifty percent (50%) of its working days during the preceding year, employed no more than fifty (50) eligible employees. Acts 1997, No. 1020, § 3; 2009, No. 1193, §§ 3, 4.

As used in this subchapter:

(1) "Carve-out arrangement" means an arrangement in which a healthcare insurer contracts with a separate person or entity to arrange for the delivery of specific types of healthcare benefits under a health benefit plan;

(2) "Commissioner" means the Insurance Commissioner;

(3) "Financial requirements" means copayments, deductibles, out-of-network charges, out-of-pocket contributions or fees, annual limits, lifetime aggregate limits imposed on individual patients, and other patient cost-sharing amounts;

(4) "Health benefit plan" means any group or blanket plan, policy, or contract for healthcare services issued or delivered in this state by healthcare insurers, including indemnity and managed care plans and the plans providing health benefits to state and public school employees pursuant to § 21-5-401 et seq., but excluding plans providing health care services pursuant to Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.;

(5) "Healthcare insurer" means any insurance company, hospital and medical service corporation, or health maintenance organization issuing or delivering health benefit plans in this state and subject to any of the following laws: (A) The Arkansas Insurance Code; (B) Section 23-75-101 et seq., pertaining to hospital and medical service corporations; (C) Section 23-76-101 et seq., pertaining to health maintenance organizations; and (D) Any successor law of the foregoing;

(A) The Arkansas Insurance Code;

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

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

(D) Any successor law of the foregoing;

(6) (A) "Mental illnesses" and "substance use disorders" mean those illnesses and disorders that are covered by a health benefit plan listed in the International Classification of Diseases manual and the Diagnostic and Statistical Manual of Mental Disorders. (B) Unless specifically otherwise stated, "mental illness" includes substance use disorders;

(A) "Mental illnesses" and "substance use disorders" mean those illnesses and disorders that are covered by a health benefit plan listed in the International Classification of Diseases manual and the Diagnostic and Statistical Manual of Mental Disorders.

(B) Unless specifically otherwise stated, "mental illness" includes substance use disorders;

(7) "Person" or "entity" means and includes, individually and collectively, any individual, corporation, partnership, firm, trust, association, voluntary organization, or any other form of business enterprise or legal entity; and

(8) "Small employer" means any person or entity actively engaged in business who, on at least fifty percent (50%) of its working days during the preceding year, employed no more than fifty (50) eligible employees.

Acts 1997, No. 1020, § 3; 2009, No. 1193, §§ 3, 4.
Ark. Code Ann. § 23-63-813 — AR Code / Title 23 / Chapter 63 / Subchapter 8 / Section 23-63-813
International banks
Status: in_force

Any insurer may invest in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, or the African Development Bank. Acts 1959, No. 148, § 109; 1971, No. 719, § 1; 1985, No. 943, § 2; A.S.A. 1947, § 66-2613.

Any insurer may invest in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, or the African Development Bank.

Acts 1959, No. 148, § 109; 1971, No. 719, § 1; 1985, No. 943, § 2; A.S.A. 1947, § 66-2613.
Ark. Code Ann. § 23-99-1701 — AR Code / Title 23 / Chapter 99 / Subchapter 17 / Section 23-99-1701
Title
Status: in_force

This subchapter shall be known and may be cited as the "Transportation Benefit Manager Act". Added by Act 2023, No. 578,§ 1, eff. 8/1/2023.

This subchapter shall be known and may be cited as the "Transportation Benefit Manager Act".

Added by Act 2023, No. 578,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 23-42-402 — AR Code / Title 23 / Chapter 42 / Subchapter 4 / Section 23-42-402
Registration by coordination
Status: in_force

(a) Any security for which a registration statement has been filed under the Securities Act of 1933 in connection with the same offering may be registered by coordination. (b) A registration statement under this section shall contain the following information and be accompanied by the following documents in addition to the information specified in § 23-42-404(c) and the consent to service of process required by § 23-42-107(a) : (1) One (1) copy of the prospectus together with all amendments filed under the Securities Act of 1933; (2) If the Securities Commissioner, by rule or otherwise, requires, a copy of the articles of incorporation and bylaws or their substantial equivalents currently in effect, a copy of any agreements with or among underwriters, a copy of any indenture or other instrument governing the issuance of the security to be registered, and a specimen or copy of the security; (3) If the commissioner requests, any other information, or copies of any other documents, filed under the Securities Act of 1933; and (4) An undertaking to forward all amendments to the federal registration statement, other than an amendment which merely delays the effective date, promptly and in any event not later than the first business day after the day they are forwarded to or filed with the Securities and Exchange Commission, whichever first occurs. (c) (1) A registration statement under this section automatically becomes effective at the moment the federal registration statement becomes effective if all the following conditions are satisfied: (A) No stop order is in effect and no proceeding is pending under § 23-42-405 ; (B) The registration statement has been on file with the commissioner for at least twenty (20) days; and (C) A statement of the maximum and minimum proposed offering prices and the maximum underwriting discounts and commissions has been on file for two (2) full business days or such shorter period as the commissioner permits by rule or otherwise, and the offering is made within those limitations. (2) (A) (i) The registrant shall promptly notify the commissioner by telephone or telegram of the date and time when the federal registration statement became effective and the content of the price amendment, if any, and shall promptly file a post-effective amendment containing the information and documents in the price amendment. (ii) "Price amendment" means the final federal amendment which includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price. (B) Upon failure to receive the required notification and post-effective amendment with respect to the price amendment, the commissioner may enter a stop order, without notice or hearing, retroactively denying effectiveness to the registration statement or suspending its effectiveness until there is compliance with this subsection, if the commissioner promptly notifies the registrant by telephone or telegram and promptly confirms by letter or telegram when the commissioner notifies by telephone of the issuance of the order. If the registrant proves compliance with the requirements of this subsection as to notice and post-effective amendment, the stop order is void as of the time of its entry. (3) The commissioner may by rule or otherwise waive either or both of the conditions specified in subdivisions (c)(1)(B) and (C) of this section. (4) If the federal registration statement becomes effective before all the conditions in this subsection are satisfied and they are not waived, the registration statement automatically becomes effective as soon as all the conditions are satisfied. If the registrant advises the commissioner of the date when the federal registration statement is expected to become effective, the commissioner shall promptly advise the registrant by telephone, telegram, or by electronic means at the registrant's expense whether all the conditions are satisfied and whether the commissioner then contemplates the institution of a proceeding under § 23-42-405 , but this advice by the commissioner does not preclude the institution of such a proceeding at any time. Acts 1959, No. 254, § 9; A.S.A. 1947, § 67-1243; Acts 1995, No. 845, § 21; 2005, No. 420, § 1; 2009, No. 462, § 11; 2011, No. 339, § 9.

(a) Any security for which a registration statement has been filed under the Securities Act of 1933 in connection with the same offering may be registered by coordination.

(b) A registration statement under this section shall contain the following information and be accompanied by the following documents in addition to the information specified in § 23-42-404(c) and the consent to service of process required by § 23-42-107(a) : (1) One (1) copy of the prospectus together with all amendments filed under the Securities Act of 1933; (2) If the Securities Commissioner, by rule or otherwise, requires, a copy of the articles of incorporation and bylaws or their substantial equivalents currently in effect, a copy of any agreements with or among underwriters, a copy of any indenture or other instrument governing the issuance of the security to be registered, and a specimen or copy of the security; (3) If the commissioner requests, any other information, or copies of any other documents, filed under the Securities Act of 1933; and (4) An undertaking to forward all amendments to the federal registration statement, other than an amendment which merely delays the effective date, promptly and in any event not later than the first business day after the day they are forwarded to or filed with the Securities and Exchange Commission, whichever first occurs.

(1) One (1) copy of the prospectus together with all amendments filed under the Securities Act of 1933;

(2) If the Securities Commissioner, by rule or otherwise, requires, a copy of the articles of incorporation and bylaws or their substantial equivalents currently in effect, a copy of any agreements with or among underwriters, a copy of any indenture or other instrument governing the issuance of the security to be registered, and a specimen or copy of the security;

(3) If the commissioner requests, any other information, or copies of any other documents, filed under the Securities Act of 1933; and

(4) An undertaking to forward all amendments to the federal registration statement, other than an amendment which merely delays the effective date, promptly and in any event not later than the first business day after the day they are forwarded to or filed with the Securities and Exchange Commission, whichever first occurs.

(c) (1) A registration statement under this section automatically becomes effective at the moment the federal registration statement becomes effective if all the following conditions are satisfied: (A) No stop order is in effect and no proceeding is pending under § 23-42-405 ; (B) The registration statement has been on file with the commissioner for at least twenty (20) days; and (C) A statement of the maximum and minimum proposed offering prices and the maximum underwriting discounts and commissions has been on file for two (2) full business days or such shorter period as the commissioner permits by rule or otherwise, and the offering is made within those limitations. (2) (A) (i) The registrant shall promptly notify the commissioner by telephone or telegram of the date and time when the federal registration statement became effective and the content of the price amendment, if any, and shall promptly file a post-effective amendment containing the information and documents in the price amendment. (ii) "Price amendment" means the final federal amendment which includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price. (B) Upon failure to receive the required notification and post-effective amendment with respect to the price amendment, the commissioner may enter a stop order, without notice or hearing, retroactively denying effectiveness to the registration statement or suspending its effectiveness until there is compliance with this subsection, if the commissioner promptly notifies the registrant by telephone or telegram and promptly confirms by letter or telegram when the commissioner notifies by telephone of the issuance of the order. If the registrant proves compliance with the requirements of this subsection as to notice and post-effective amendment, the stop order is void as of the time of its entry. (3) The commissioner may by rule or otherwise waive either or both of the conditions specified in subdivisions (c)(1)(B) and (C) of this section. (4) If the federal registration statement becomes effective before all the conditions in this subsection are satisfied and they are not waived, the registration statement automatically becomes effective as soon as all the conditions are satisfied. If the registrant advises the commissioner of the date when the federal registration statement is expected to become effective, the commissioner shall promptly advise the registrant by telephone, telegram, or by electronic means at the registrant's expense whether all the conditions are satisfied and whether the commissioner then contemplates the institution of a proceeding under § 23-42-405 , but this advice by the commissioner does not preclude the institution of such a proceeding at any time.

(1) A registration statement under this section automatically becomes effective at the moment the federal registration statement becomes effective if all the following conditions are satisfied: (A) No stop order is in effect and no proceeding is pending under § 23-42-405 ; (B) The registration statement has been on file with the commissioner for at least twenty (20) days; and (C) A statement of the maximum and minimum proposed offering prices and the maximum underwriting discounts and commissions has been on file for two (2) full business days or such shorter period as the commissioner permits by rule or otherwise, and the offering is made within those limitations.

(A) No stop order is in effect and no proceeding is pending under § 23-42-405 ;

(B) The registration statement has been on file with the commissioner for at least twenty (20) days; and

(C) A statement of the maximum and minimum proposed offering prices and the maximum underwriting discounts and commissions has been on file for two (2) full business days or such shorter period as the commissioner permits by rule or otherwise, and the offering is made within those limitations.

(2) (A) (i) The registrant shall promptly notify the commissioner by telephone or telegram of the date and time when the federal registration statement became effective and the content of the price amendment, if any, and shall promptly file a post-effective amendment containing the information and documents in the price amendment. (ii) "Price amendment" means the final federal amendment which includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price. (B) Upon failure to receive the required notification and post-effective amendment with respect to the price amendment, the commissioner may enter a stop order, without notice or hearing, retroactively denying effectiveness to the registration statement or suspending its effectiveness until there is compliance with this subsection, if the commissioner promptly notifies the registrant by telephone or telegram and promptly confirms by letter or telegram when the commissioner notifies by telephone of the issuance of the order. If the registrant proves compliance with the requirements of this subsection as to notice and post-effective amendment, the stop order is void as of the time of its entry.

(A) (i) The registrant shall promptly notify the commissioner by telephone or telegram of the date and time when the federal registration statement became effective and the content of the price amendment, if any, and shall promptly file a post-effective amendment containing the information and documents in the price amendment. (ii) "Price amendment" means the final federal amendment which includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price.

(i) The registrant shall promptly notify the commissioner by telephone or telegram of the date and time when the federal registration statement became effective and the content of the price amendment, if any, and shall promptly file a post-effective amendment containing the information and documents in the price amendment.

(ii) "Price amendment" means the final federal amendment which includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price.

(B) Upon failure to receive the required notification and post-effective amendment with respect to the price amendment, the commissioner may enter a stop order, without notice or hearing, retroactively denying effectiveness to the registration statement or suspending its effectiveness until there is compliance with this subsection, if the commissioner promptly notifies the registrant by telephone or telegram and promptly confirms by letter or telegram when the commissioner notifies by telephone of the issuance of the order. If the registrant proves compliance with the requirements of this subsection as to notice and post-effective amendment, the stop order is void as of the time of its entry.

(3) The commissioner may by rule or otherwise waive either or both of the conditions specified in subdivisions (c)(1)(B) and (C) of this section.

(4) If the federal registration statement becomes effective before all the conditions in this subsection are satisfied and they are not waived, the registration statement automatically becomes effective as soon as all the conditions are satisfied. If the registrant advises the commissioner of the date when the federal registration statement is expected to become effective, the commissioner shall promptly advise the registrant by telephone, telegram, or by electronic means at the registrant's expense whether all the conditions are satisfied and whether the commissioner then contemplates the institution of a proceeding under § 23-42-405 , but this advice by the commissioner does not preclude the institution of such a proceeding at any time.

Acts 1959, No. 254, § 9; A.S.A. 1947, § 67-1243; Acts 1995, No. 845, § 21; 2005, No. 420, § 1; 2009, No. 462, § 11; 2011, No. 339, § 9.
Ark. Code Ann. § 23-72-107 — AR Code / Title 23 / Chapter 72 / Section 23-72-107
Pro rata or level assessment plans
Status: in_force

(a) Except as provided in § 23-72-118 , a mutual assessment insurer may transact insurance on either the pro rata assessment plan only or on the level or stipulated rate plan only. (b) Each plan shall be governed by the provisions of this chapter made specifically applicable thereto and by those provisions applicable to both plans. Acts 1959, No. 148, § 562; A.S.A. 1947, § 66-4507.

(a) Except as provided in § 23-72-118 , a mutual assessment insurer may transact insurance on either the pro rata assessment plan only or on the level or stipulated rate plan only.

(b) Each plan shall be governed by the provisions of this chapter made specifically applicable thereto and by those provisions applicable to both plans.

Acts 1959, No. 148, § 562; A.S.A. 1947, § 66-4507.
Ark. Code Ann. § 23-76-114 — AR Code / Title 23 / Chapter 76 / Section 23-76-114
Information to enrollees
Status: in_force

(a) A health maintenance organization shall make available to its subscribers a list of providers upon enrollment and re-enrollment. (b) Every health maintenance organization shall provide within thirty (30) days to its subscribers a notice of any material change in the operation of the health maintenance organization, including any major change in its provider network, that will affect them directly. (c) (1) An enrollee shall be notified in writing by the health maintenance organization of the termination of the primary care provider who provided healthcare services to that enrollee. (2) The health maintenance organization shall provide assistance to the enrollee in transferring to another participating primary care provider. (d) The health maintenance organization shall provide to subscribers information on how services may be obtained, where additional information on access to services can be obtained, and a telephone number where the enrollee can contact the health maintenance organization, at no cost to the enrollee. Acts 1975, No. 454, § 10; A.S.A. 1947, § 66-5210; Acts 2001, No. 1605, § 6.

(a) A health maintenance organization shall make available to its subscribers a list of providers upon enrollment and re-enrollment.

(b) Every health maintenance organization shall provide within thirty (30) days to its subscribers a notice of any material change in the operation of the health maintenance organization, including any major change in its provider network, that will affect them directly.

(c) (1) An enrollee shall be notified in writing by the health maintenance organization of the termination of the primary care provider who provided healthcare services to that enrollee. (2) The health maintenance organization shall provide assistance to the enrollee in transferring to another participating primary care provider.

(1) An enrollee shall be notified in writing by the health maintenance organization of the termination of the primary care provider who provided healthcare services to that enrollee.

(2) The health maintenance organization shall provide assistance to the enrollee in transferring to another participating primary care provider.

(d) The health maintenance organization shall provide to subscribers information on how services may be obtained, where additional information on access to services can be obtained, and a telephone number where the enrollee can contact the health maintenance organization, at no cost to the enrollee.

Acts 1975, No. 454, § 10; A.S.A. 1947, § 66-5210; Acts 2001, No. 1605, § 6.
Ark. Code Ann. § 23-86-405 — AR Code / Title 23 / Chapter 86 / Subchapter 4 / Section 23-86-405
Effect of subchapter on pricing
Status: in_force

Nothing in this subchapter shall be construed to prohibit a health maintenance organization from pricing any health benefit plan according to sound actuarial principles. Acts 1999, No. 1469, § 5.

Nothing in this subchapter shall be construed to prohibit a health maintenance organization from pricing any health benefit plan according to sound actuarial principles.

Acts 1999, No. 1469, § 5.
Ark. Code Ann. § 23-37-403 — AR Code / Title 23 / Chapter 37 / Subchapter 4 / Section 23-37-403
Dividends
Status: in_force

(a) (1) After providing for payment of the expenses of operation of the association and for the required minimum transfer to its general loss reserves on each closing day as prescribed by the Supervisor of Savings and Loan Associations, the board of directors of an association may declare a dividend on savings accounts of record on the last business day of March, June, September, and December. The dividends shall be payable as of the dividend date or at a later date not more than thirty (30) days following the dividend date. (2) Dividends shall be declared on the withdrawal value of each savings account at the beginning of the dividend period, plus additions thereto made during the dividend period less amounts withdrawn, which for dividend purposes shall be deducted from the latest previous additions thereto, computed at the declared rate for the time invested. (3) For dividend purposes, the date of investment shall be the date fixed by the board of directors of an association with the approval of the Savings and Loan Association Board [abolished] which shall be not later than thirty (30) days after or prior to the date of actual receipt by the association of an account or an addition to an account. (4) Dividends shall be credited to savings accounts on the books of the association unless the association shall have agreed to pay dividends on all or any part of any savings account in cash. (5) All savings account holders shall participate equally in dividends pro rata to the withdrawal value of their savings accounts; no association shall be required to pay or credit dividends on accounts of ten dollars ($10.00) or less. (b) With the approval of the Savings and Loan Association Board [abolished], a savings and loan or building and loan association operating under authority of the statutes of Arkansas may pay to the holders of its savings accounts any rate of dividend, or bonus, or special dividend, or classify its savings accounts for the purpose of paying a differential or variable dividend, or adopt any other dividend policy that is authorized for federal associations operating in this state, irrespective of any limitation contained in this chapter or other laws of this state. Acts 1963, No. 227, § 60; 1967, No. 144, § 1; A.S.A. 1947, §§ 67-1860, 67-1860.1.

(a) (1) After providing for payment of the expenses of operation of the association and for the required minimum transfer to its general loss reserves on each closing day as prescribed by the Supervisor of Savings and Loan Associations, the board of directors of an association may declare a dividend on savings accounts of record on the last business day of March, June, September, and December. The dividends shall be payable as of the dividend date or at a later date not more than thirty (30) days following the dividend date. (2) Dividends shall be declared on the withdrawal value of each savings account at the beginning of the dividend period, plus additions thereto made during the dividend period less amounts withdrawn, which for dividend purposes shall be deducted from the latest previous additions thereto, computed at the declared rate for the time invested. (3) For dividend purposes, the date of investment shall be the date fixed by the board of directors of an association with the approval of the Savings and Loan Association Board [abolished] which shall be not later than thirty (30) days after or prior to the date of actual receipt by the association of an account or an addition to an account. (4) Dividends shall be credited to savings accounts on the books of the association unless the association shall have agreed to pay dividends on all or any part of any savings account in cash. (5) All savings account holders shall participate equally in dividends pro rata to the withdrawal value of their savings accounts; no association shall be required to pay or credit dividends on accounts of ten dollars ($10.00) or less.

(1) After providing for payment of the expenses of operation of the association and for the required minimum transfer to its general loss reserves on each closing day as prescribed by the Supervisor of Savings and Loan Associations, the board of directors of an association may declare a dividend on savings accounts of record on the last business day of March, June, September, and December. The dividends shall be payable as of the dividend date or at a later date not more than thirty (30) days following the dividend date.

(2) Dividends shall be declared on the withdrawal value of each savings account at the beginning of the dividend period, plus additions thereto made during the dividend period less amounts withdrawn, which for dividend purposes shall be deducted from the latest previous additions thereto, computed at the declared rate for the time invested.

(3) For dividend purposes, the date of investment shall be the date fixed by the board of directors of an association with the approval of the Savings and Loan Association Board [abolished] which shall be not later than thirty (30) days after or prior to the date of actual receipt by the association of an account or an addition to an account.

(4) Dividends shall be credited to savings accounts on the books of the association unless the association shall have agreed to pay dividends on all or any part of any savings account in cash.

(5) All savings account holders shall participate equally in dividends pro rata to the withdrawal value of their savings accounts; no association shall be required to pay or credit dividends on accounts of ten dollars ($10.00) or less.

(b) With the approval of the Savings and Loan Association Board [abolished], a savings and loan or building and loan association operating under authority of the statutes of Arkansas may pay to the holders of its savings accounts any rate of dividend, or bonus, or special dividend, or classify its savings accounts for the purpose of paying a differential or variable dividend, or adopt any other dividend policy that is authorized for federal associations operating in this state, irrespective of any limitation contained in this chapter or other laws of this state.

Acts 1963, No. 227, § 60; 1967, No. 144, § 1; A.S.A. 1947, §§ 67-1860, 67-1860.1.
Ark. Code Ann. § 23-85-124 — AR Code / Title 23 / Chapter 85 / Section 23-85-124
Optional conformity with state statutes provision
Status: in_force

There may be a provision as follows: "Conformity with State Statutes: Any provision of this policy which, on its effective date, is in conflict with the statutes of the state, District of Columbia, or territory in which the insured resides on such date is amended to conform to the minimum requirements of such statutes." Acts 1959, No. 148, § 409; A.S.A. 1947, § 66-3624.

There may be a provision as follows:

"Conformity with State Statutes: Any provision of this policy which, on its effective date, is in conflict with the statutes of the state, District of Columbia, or territory in which the insured resides on such date is amended to conform to the minimum requirements of such statutes."

Acts 1959, No. 148, § 409; A.S.A. 1947, § 66-3624.
Ark. Code Ann. § 23-37-510 — AR Code / Title 23 / Chapter 37 / Subchapter 5 / Section 23-37-510
Validity of release or acquittance by officers of corporation or association
Status: in_force

A release or acquittance signed by either the president or the secretary of any corporation or any unincorporated association, whether foreign, domestic, charitable, public, or private, or signed by any person purporting to be the president or secretary of the corporation, who opens a savings account in the name of the corporation, shall constitute a valid and sufficient release of any association to the extent of any payment or delivery of rights or property made by the association to a corporation or unincorporated association upon the written direction of the president or secretary unless there has been filed with the association a copy of a resolution of the board of directors or other governing body of the corporation or unincorporated association designating other officers or agents of the corporation or unincorporated association who have the power to act for the corporation or unincorporated association with respect to the savings account. Acts 1963, No. 227, § 45; A.S.A. 1947, § 67-1845.

A release or acquittance signed by either the president or the secretary of any corporation or any unincorporated association, whether foreign, domestic, charitable, public, or private, or signed by any person purporting to be the president or secretary of the corporation, who opens a savings account in the name of the corporation, shall constitute a valid and sufficient release of any association to the extent of any payment or delivery of rights or property made by the association to a corporation or unincorporated association upon the written direction of the president or secretary unless there has been filed with the association a copy of a resolution of the board of directors or other governing body of the corporation or unincorporated association designating other officers or agents of the corporation or unincorporated association who have the power to act for the corporation or unincorporated association with respect to the savings account.

Acts 1963, No. 227, § 45; A.S.A. 1947, § 67-1845.
Ark. Code Ann. § 23-12-1008 — AR Code / Title 23 / Chapter 12 / Subchapter 10 / Section 23-12-1008
Unlawful delay - Action on complaint
Status: in_force

(a) (1) (A) Prior to any request by a state, municipal, or county official for sanctions against a railroad company for violation of this section and §§ 23-12-1006 and 23-12-1007 , the state, municipal, or county official shall state the claim or complaint in writing, by certified mail, to the registered agent of the railroad company in question. (B) (i) Within forty-five (45) days after the receipt of the written claim or complaint by the railroad company, the railroad company shall respond to the claim or complaint stating with specificity the reasons for obstructing a crossing for an unlawful period of time. (ii) This response shall be in writing to the complaining official by certified mail. (2) (A) In the event the issue is not then resolved to the satisfaction of the complaining official, the official shall notify the State Highway Commission in writing and shall enclose a copy of the complaint and response. (B) (i) Within sixty (60) days after receipt of the notice, the commission shall hold a hearing on the complaint. (ii) Notice of the hearing shall be given the railroad and the complainant at least twenty (20) days before the hearing. (C) The commission or its designated representative, after an appropriate notice and hearing on the complaint, shall determine whether the obstruction was for an unlawful period of time under the circumstances. (3) (A) If the commission makes such a finding of unlawful delay based on information presented at a hearing before the commission or before its designated representative, the railroad company charged with the violation shall be subject to a penalty to be imposed by the commission of not less than two hundred dollars ($200) nor more than five hundred dollars ($500) per occurrence. (B) (i) The decision of the commission may be appealed to the circuit court of the county in which the violation occurred at any time within thirty (30) days after the decision is rendered. (ii) Provided, the decision of the commission shall be final unless appealed as authorized herein. (b) After the initial ten-minute period or such other period as may be prescribed by rule of the commission, each ten-minute period or other period as may be prescribed by rule of the commission that the crossing is obstructed by a standing train shall constitute a separate offense, and penalties may be imposed accordingly. (c) (1) If the crossing where a violation occurs is located within the boundaries of a city or town, one-half (1/2) of the moneys recovered under the provisions of this section and §§ 23-12-1006 and 23-12-1007 shall be placed in the general fund or street fund of the municipality and one-half (1/2) of the funds shall be placed in the State Highway and Transportation Department Fund. (2) All other moneys recovered under the provisions of this section shall be divided equally between the State Highway and Transportation Department Fund and the general road fund of the county in which the violation occurred. Amended by Act 2019, No. 315,§ 2415, eff. 7/24/2019. Acts 1993, No. 726, § 4; 1995, No. 668, § 2.

(a) (1) (A) Prior to any request by a state, municipal, or county official for sanctions against a railroad company for violation of this section and §§ 23-12-1006 and 23-12-1007 , the state, municipal, or county official shall state the claim or complaint in writing, by certified mail, to the registered agent of the railroad company in question. (B) (i) Within forty-five (45) days after the receipt of the written claim or complaint by the railroad company, the railroad company shall respond to the claim or complaint stating with specificity the reasons for obstructing a crossing for an unlawful period of time. (ii) This response shall be in writing to the complaining official by certified mail. (2) (A) In the event the issue is not then resolved to the satisfaction of the complaining official, the official shall notify the State Highway Commission in writing and shall enclose a copy of the complaint and response. (B) (i) Within sixty (60) days after receipt of the notice, the commission shall hold a hearing on the complaint. (ii) Notice of the hearing shall be given the railroad and the complainant at least twenty (20) days before the hearing. (C) The commission or its designated representative, after an appropriate notice and hearing on the complaint, shall determine whether the obstruction was for an unlawful period of time under the circumstances. (3) (A) If the commission makes such a finding of unlawful delay based on information presented at a hearing before the commission or before its designated representative, the railroad company charged with the violation shall be subject to a penalty to be imposed by the commission of not less than two hundred dollars ($200) nor more than five hundred dollars ($500) per occurrence. (B) (i) The decision of the commission may be appealed to the circuit court of the county in which the violation occurred at any time within thirty (30) days after the decision is rendered. (ii) Provided, the decision of the commission shall be final unless appealed as authorized herein.

(1) (A) Prior to any request by a state, municipal, or county official for sanctions against a railroad company for violation of this section and §§ 23-12-1006 and 23-12-1007 , the state, municipal, or county official shall state the claim or complaint in writing, by certified mail, to the registered agent of the railroad company in question. (B) (i) Within forty-five (45) days after the receipt of the written claim or complaint by the railroad company, the railroad company shall respond to the claim or complaint stating with specificity the reasons for obstructing a crossing for an unlawful period of time. (ii) This response shall be in writing to the complaining official by certified mail.

(A) Prior to any request by a state, municipal, or county official for sanctions against a railroad company for violation of this section and §§ 23-12-1006 and 23-12-1007 , the state, municipal, or county official shall state the claim or complaint in writing, by certified mail, to the registered agent of the railroad company in question.

(B) (i) Within forty-five (45) days after the receipt of the written claim or complaint by the railroad company, the railroad company shall respond to the claim or complaint stating with specificity the reasons for obstructing a crossing for an unlawful period of time. (ii) This response shall be in writing to the complaining official by certified mail.

(i) Within forty-five (45) days after the receipt of the written claim or complaint by the railroad company, the railroad company shall respond to the claim or complaint stating with specificity the reasons for obstructing a crossing for an unlawful period of time.

(ii) This response shall be in writing to the complaining official by certified mail.

(2) (A) In the event the issue is not then resolved to the satisfaction of the complaining official, the official shall notify the State Highway Commission in writing and shall enclose a copy of the complaint and response. (B) (i) Within sixty (60) days after receipt of the notice, the commission shall hold a hearing on the complaint. (ii) Notice of the hearing shall be given the railroad and the complainant at least twenty (20) days before the hearing. (C) The commission or its designated representative, after an appropriate notice and hearing on the complaint, shall determine whether the obstruction was for an unlawful period of time under the circumstances.

(A) In the event the issue is not then resolved to the satisfaction of the complaining official, the official shall notify the State Highway Commission in writing and shall enclose a copy of the complaint and response.

(B) (i) Within sixty (60) days after receipt of the notice, the commission shall hold a hearing on the complaint. (ii) Notice of the hearing shall be given the railroad and the complainant at least twenty (20) days before the hearing.

(i) Within sixty (60) days after receipt of the notice, the commission shall hold a hearing on the complaint.

(ii) Notice of the hearing shall be given the railroad and the complainant at least twenty (20) days before the hearing.

(C) The commission or its designated representative, after an appropriate notice and hearing on the complaint, shall determine whether the obstruction was for an unlawful period of time under the circumstances.

(3) (A) If the commission makes such a finding of unlawful delay based on information presented at a hearing before the commission or before its designated representative, the railroad company charged with the violation shall be subject to a penalty to be imposed by the commission of not less than two hundred dollars ($200) nor more than five hundred dollars ($500) per occurrence. (B) (i) The decision of the commission may be appealed to the circuit court of the county in which the violation occurred at any time within thirty (30) days after the decision is rendered. (ii) Provided, the decision of the commission shall be final unless appealed as authorized herein.

(A) If the commission makes such a finding of unlawful delay based on information presented at a hearing before the commission or before its designated representative, the railroad company charged with the violation shall be subject to a penalty to be imposed by the commission of not less than two hundred dollars ($200) nor more than five hundred dollars ($500) per occurrence.

(B) (i) The decision of the commission may be appealed to the circuit court of the county in which the violation occurred at any time within thirty (30) days after the decision is rendered. (ii) Provided, the decision of the commission shall be final unless appealed as authorized herein.

(i) The decision of the commission may be appealed to the circuit court of the county in which the violation occurred at any time within thirty (30) days after the decision is rendered.

(ii) Provided, the decision of the commission shall be final unless appealed as authorized herein.

(b) After the initial ten-minute period or such other period as may be prescribed by rule of the commission, each ten-minute period or other period as may be prescribed by rule of the commission that the crossing is obstructed by a standing train shall constitute a separate offense, and penalties may be imposed accordingly.

(c) (1) If the crossing where a violation occurs is located within the boundaries of a city or town, one-half (1/2) of the moneys recovered under the provisions of this section and §§ 23-12-1006 and 23-12-1007 shall be placed in the general fund or street fund of the municipality and one-half (1/2) of the funds shall be placed in the State Highway and Transportation Department Fund. (2) All other moneys recovered under the provisions of this section shall be divided equally between the State Highway and Transportation Department Fund and the general road fund of the county in which the violation occurred.

(1) If the crossing where a violation occurs is located within the boundaries of a city or town, one-half (1/2) of the moneys recovered under the provisions of this section and §§ 23-12-1006 and 23-12-1007 shall be placed in the general fund or street fund of the municipality and one-half (1/2) of the funds shall be placed in the State Highway and Transportation Department Fund.

(2) All other moneys recovered under the provisions of this section shall be divided equally between the State Highway and Transportation Department Fund and the general road fund of the county in which the violation occurred.

Amended by Act 2019, No. 315,§ 2415, eff. 7/24/2019.

Acts 1993, No. 726, § 4; 1995, No. 668, § 2.
Ark. Code Ann. § 23-47-208 — AR Code / Title 23 / Chapter 47 / Subchapter 2 / Section 23-47-208
Deferred income investment accounts
Status: in_force

(a) On behalf of depositors, state banks may create and open deferred income investment accounts of the following types: (1) The depositor makes a deposit of a lump sum, and the bank agrees to pay the depositor an agreed monthly or annual payment for life or for a term certain beginning immediately or at some time in the future; and (2) The depositor makes a deposit periodically on an agreed basis, and the bank agrees to pay the depositor, on a periodic basis beginning at some time in the future for life or a term certain, an agreed monthly or annual payment. (b) The depositor and the state bank may agree that: (1) A partial refund of the deposit may occur upon specified events, or no refund may occur; (2) The depositor may elect to stop payments from the bank for a term; (3) The payments may go to designated beneficiaries in all cases both before and after death of the depositor; (4) The amount of the payments to the bank and to the depositor will be fixed for the term agreed upon; or (5) The payment to the depositor will be determined by an index or criteria beyond the control of the depositor or bank. (c) The Bank Commissioner shall promulgate such rules as may be necessary and proper to carry out the intent and purpose of this section and to issue cease and desist orders to any state bank found to be violating this section or State Bank Department rules. These department rules shall incorporate §§ 23-81-121 - 23-81-128 , where applicable. (d) The deferred income investment accounts allowed in this section shall be exempt from §§ 23-42-501 and 23-42-502 . (e) It is the intent of this section that distributions from deferred income investment accounts be treated as nontaxable to the greatest extent possible under section 72 of the Internal Revenue Code of 1986. Amended by Act 2019, No. 315,§ 2536, eff. 7/24/2019. Acts 1997, No. 89, § 1.

(a) On behalf of depositors, state banks may create and open deferred income investment accounts of the following types: (1) The depositor makes a deposit of a lump sum, and the bank agrees to pay the depositor an agreed monthly or annual payment for life or for a term certain beginning immediately or at some time in the future; and (2) The depositor makes a deposit periodically on an agreed basis, and the bank agrees to pay the depositor, on a periodic basis beginning at some time in the future for life or a term certain, an agreed monthly or annual payment.

(1) The depositor makes a deposit of a lump sum, and the bank agrees to pay the depositor an agreed monthly or annual payment for life or for a term certain beginning immediately or at some time in the future; and

(2) The depositor makes a deposit periodically on an agreed basis, and the bank agrees to pay the depositor, on a periodic basis beginning at some time in the future for life or a term certain, an agreed monthly or annual payment.

(b) The depositor and the state bank may agree that: (1) A partial refund of the deposit may occur upon specified events, or no refund may occur; (2) The depositor may elect to stop payments from the bank for a term; (3) The payments may go to designated beneficiaries in all cases both before and after death of the depositor; (4) The amount of the payments to the bank and to the depositor will be fixed for the term agreed upon; or (5) The payment to the depositor will be determined by an index or criteria beyond the control of the depositor or bank.

(1) A partial refund of the deposit may occur upon specified events, or no refund may occur;

(2) The depositor may elect to stop payments from the bank for a term;

(3) The payments may go to designated beneficiaries in all cases both before and after death of the depositor;

(4) The amount of the payments to the bank and to the depositor will be fixed for the term agreed upon; or

(5) The payment to the depositor will be determined by an index or criteria beyond the control of the depositor or bank.

(c) The Bank Commissioner shall promulgate such rules as may be necessary and proper to carry out the intent and purpose of this section and to issue cease and desist orders to any state bank found to be violating this section or State Bank Department rules. These department rules shall incorporate §§ 23-81-121 - 23-81-128 , where applicable.

(d) The deferred income investment accounts allowed in this section shall be exempt from §§ 23-42-501 and 23-42-502 .

(e) It is the intent of this section that distributions from deferred income investment accounts be treated as nontaxable to the greatest extent possible under section 72 of the Internal Revenue Code of 1986.

Amended by Act 2019, No. 315,§ 2536, eff. 7/24/2019.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-35-204 — AR Code / Title 23 / Chapter 35 / Subchapter 2 / Section 23-35-204
Reports - Penalty for failure to file
Status: in_force

(a) Credit unions subject to the provisions of this chapter shall report to the State Credit Union Supervisor annually, on or before February 1, on forms supplied by him or her for that purpose. Additional reports may be required by the supervisor, as is deemed necessary. (b) (1) If any report remains in arrears for more than fifteen (15) days, a fine of five dollars ($5.00) for each day the report remains in arrears shall be levied against the offending credit union. (2) If the report is not returned within thirty (30) days of the due date, the supervisor may, after written notice to the president of the credit union of his or her intention to do so, suspend or revoke the certificate of approval, take possession of the business and property of the credit union, and order its dissolution in accordance with § 23-35-704 . Acts 1971, No. 132, § 30; A.S.A. 1947, § 67-930.

(a) Credit unions subject to the provisions of this chapter shall report to the State Credit Union Supervisor annually, on or before February 1, on forms supplied by him or her for that purpose. Additional reports may be required by the supervisor, as is deemed necessary.

(b) (1) If any report remains in arrears for more than fifteen (15) days, a fine of five dollars ($5.00) for each day the report remains in arrears shall be levied against the offending credit union. (2) If the report is not returned within thirty (30) days of the due date, the supervisor may, after written notice to the president of the credit union of his or her intention to do so, suspend or revoke the certificate of approval, take possession of the business and property of the credit union, and order its dissolution in accordance with § 23-35-704 .

(1) If any report remains in arrears for more than fifteen (15) days, a fine of five dollars ($5.00) for each day the report remains in arrears shall be levied against the offending credit union.

(2) If the report is not returned within thirty (30) days of the due date, the supervisor may, after written notice to the president of the credit union of his or her intention to do so, suspend or revoke the certificate of approval, take possession of the business and property of the credit union, and order its dissolution in accordance with § 23-35-704 .

Acts 1971, No. 132, § 30; A.S.A. 1947, § 67-930.
Ark. Code Ann. § 23-74-602 — AR Code / Title 23 / Chapter 74 / Subchapter 6 / Section 23-74-602
Reports
Status: in_force

(a) Reports shall be filed in accordance with the provisions of this section. (b) (1) Every society transacting business in this state shall annually, on or before March 1, unless for cause shown such time has been extended by the Insurance Commissioner, file with the commissioner a true statement of its financial condition, transactions, and affairs for the preceding calendar year and pay any applicable fees for filing same. (2) The statement shall be in general form and context as approved by the National Association of Insurance Commissioners for fraternal benefit societies and as supplemented by additional information required by the commissioner. (c) (1) As part of the annual statement required by this section, each society shall file with the commissioner, on or before March 1, a valuation of its certificates in force on the immediately preceding December 31, provided that the commissioner, in his or her discretion for cause shown, may extend the time for filing the valuation for not more than two (2) calendar months. (2) The valuation shall be done in accordance with the standards specified in § 23-74-601 . (3) The valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society. (d) A society neglecting to file the annual statement in the form and within the time provided by this section shall forfeit one hundred dollars ($100) for each day during which the neglect continues, and, upon notice by the commissioner to that effect, its authority to do business in this state shall cease while the default continues. Acts 1989, No. 881, § 1.

(a) Reports shall be filed in accordance with the provisions of this section.

(b) (1) Every society transacting business in this state shall annually, on or before March 1, unless for cause shown such time has been extended by the Insurance Commissioner, file with the commissioner a true statement of its financial condition, transactions, and affairs for the preceding calendar year and pay any applicable fees for filing same. (2) The statement shall be in general form and context as approved by the National Association of Insurance Commissioners for fraternal benefit societies and as supplemented by additional information required by the commissioner.

(1) Every society transacting business in this state shall annually, on or before March 1, unless for cause shown such time has been extended by the Insurance Commissioner, file with the commissioner a true statement of its financial condition, transactions, and affairs for the preceding calendar year and pay any applicable fees for filing same.

(2) The statement shall be in general form and context as approved by the National Association of Insurance Commissioners for fraternal benefit societies and as supplemented by additional information required by the commissioner.

(c) (1) As part of the annual statement required by this section, each society shall file with the commissioner, on or before March 1, a valuation of its certificates in force on the immediately preceding December 31, provided that the commissioner, in his or her discretion for cause shown, may extend the time for filing the valuation for not more than two (2) calendar months. (2) The valuation shall be done in accordance with the standards specified in § 23-74-601 . (3) The valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society.

(1) As part of the annual statement required by this section, each society shall file with the commissioner, on or before March 1, a valuation of its certificates in force on the immediately preceding December 31, provided that the commissioner, in his or her discretion for cause shown, may extend the time for filing the valuation for not more than two (2) calendar months.

(2) The valuation shall be done in accordance with the standards specified in § 23-74-601 .

(3) The valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society.

(d) A society neglecting to file the annual statement in the form and within the time provided by this section shall forfeit one hundred dollars ($100) for each day during which the neglect continues, and, upon notice by the commissioner to that effect, its authority to do business in this state shall cease while the default continues.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-12-406 — AR Code / Title 23 / Chapter 12 / Subchapter 4 / Section 23-12-406
Transportation of hazardous materials
Status: in_force

Any railroad transporting hazardous materials, as defined in the Hazardous Materials Transportation Act, in this state must have on the train, in the possession of the train crew, documents which shall contain the following information regarding the hazardous material: (1) Position in the train of the car containing the hazardous material; (2) Number of the car containing the hazardous material; (3) Description of the hazardous nature of the material, such as whether it is a corrosive or flammable liquid, gas, or solid; and (4) A description of the quantity of the hazardous material. Acts 1979, No. 651, § 1; A.S.A. 1947, § 73-745.

Any railroad transporting hazardous materials, as defined in the Hazardous Materials Transportation Act, in this state must have on the train, in the possession of the train crew, documents which shall contain the following information regarding the hazardous material:

(1) Position in the train of the car containing the hazardous material;

(2) Number of the car containing the hazardous material;

(3) Description of the hazardous nature of the material, such as whether it is a corrosive or flammable liquid, gas, or solid; and

(4) A description of the quantity of the hazardous material.

Acts 1979, No. 651, § 1; A.S.A. 1947, § 73-745.
Ark. Code Ann. § 23-69-303 — AR Code / Title 23 / Chapter 69 / Subchapter 3 / Section 23-69-303
Definitions
Status: in_force

For purposes of this subchapter, unless the context requires otherwise: (1) "Commissioner" means the Insurance Commissioner; (2) "Intermediate stock holding company" means a holding company of which at least a majority of the voting securities are owned by a mutual insurance holding company and which directly owns all the voting securities of a reorganized stock insurer; (3) "Mutual insurance holding company" means a holding company based on a mutual plan which at all times owns a majority of the voting securities of a single intermediate stock holding company or, if no such intermediate stock holding company exists, which owns a majority of the voting securities of a reorganized stock insurer; (4) "Reorganized stock insurer" means a stock insurer subsidiary which results from a reorganization of a domestic mutual insurer under § 23-69-304(a)(1) or (a)(2) and in compliance with this subchapter; and (5) "Voting securities" means securities of any class or any ownership interest having voting power for the election of directors, trustees, or management, other than securities having voting power only because of the occurrence of a contingency. Acts 2001, No. 1726, § 1.

For purposes of this subchapter, unless the context requires otherwise:

(1) "Commissioner" means the Insurance Commissioner;

(2) "Intermediate stock holding company" means a holding company of which at least a majority of the voting securities are owned by a mutual insurance holding company and which directly owns all the voting securities of a reorganized stock insurer;

(3) "Mutual insurance holding company" means a holding company based on a mutual plan which at all times owns a majority of the voting securities of a single intermediate stock holding company or, if no such intermediate stock holding company exists, which owns a majority of the voting securities of a reorganized stock insurer;

(4) "Reorganized stock insurer" means a stock insurer subsidiary which results from a reorganization of a domestic mutual insurer under § 23-69-304(a)(1) or (a)(2) and in compliance with this subchapter; and

(5) "Voting securities" means securities of any class or any ownership interest having voting power for the election of directors, trustees, or management, other than securities having voting power only because of the occurrence of a contingency.

Acts 2001, No. 1726, § 1.
Ark. Code Ann. § 23-66-320 — AR Code / Title 23 / Chapter 66 / Subchapter 3 / Section 23-66-320
Genetic Nondiscrimination in Insurance Act - Definitions
Status: in_force

(a) This section shall be known and may be cited as the "Genetic Nondiscrimination in Insurance Act". (b) For the purposes of this section: (1) "Disability insurance" means insurance of human beings against bodily injury, disablement, or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto, but shall not include disability income or long-term care insurance; (2) "DNA" means deoxyribonucleic acid; (3) (A) "Genetic information" means information derived from the results of a genetic test. (B) Genetic information shall not include: (i) Family history; (ii) The results of a routine physical examination or test; (iii) The results of a routine chemical, blood, or urine analysis; (iv) The results of a test to determine drug use; (v) The results of a test for the presence of the human immunodeficiency virus; or (vi) The results of any other test commonly accepted in clinical practice at the time it is ordered by the insurer; (4) (A) "Genetic test" means a laboratory test of the DNA, RNA, chromosomes, or enzyme activity for genetic disease of an individual for the purpose of identifying the presence or absence of inherited alterations in the DNA, RNA, chromosomes, or enzyme activity for genetic disease that cause a predisposition for a clinically recognized disease or disorder. (B) "Genetic test" shall not include: (i) A routine physical examination or a routine test performed as a part of a physical examination; (ii) A chemical, blood, or urine analysis; (iii) A test to determine drug use; (iv) A test for the presence of the human immunodeficiency virus; or (v) Any other test commonly accepted in clinical practice at the time it is ordered by the insurer; (5) (A) "Insurer" means any individual, corporation, association, partnership, insurance support organization, fraternal benefit society, insurance agent, third-party administration, self-insurer, or any other legal entity engaged in the business of insurance which is licensed to do business in or incorporated or domesticated or domiciled in or under the statutes of this state, or actually engaged in business in this state, regardless of where the contract of insurance is written or the plan is administered or where the corporation is incorporated, that issues disability policies or plans or that administers any other type of disability insurance policy containing medical provisions, including, but not limited to, any nonprofit hospital service and indemnity and medical service and indemnity corporation, health maintenance organizations, preferred provider organizations, prepaid health plans, and the State and Public School Life and Health Insurance Program. (B) "Insurer" shall not include insurers issuing life, disability income, or long-term care insurance; (6) (A) "Policy" or "policy form" means any: (i) Policy, contract, plan, or agreement of disability insurance, or subscriber certificates of medical care corporations, healthcare corporations, hospital service associations, or healthcare maintenance organizations, delivered or issued for delivery in this state by any insurer; (ii) Certificate, contract, or policy issued by a fraternal benefit society; (iii) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and (iv) Evidence of coverage issued by a health maintenance organization. (B) "Policy" or "policy form" shall not include life, disability income, and long-term care insurance policies; and (7) "RNA" means ribonucleic acid. (c) No insurer, for the purpose of determining eligibility of any individual for any insurance coverage, establishing premiums, limiting coverage, renewing coverage, terminating coverage, or any other underwriting decision in connection with the offer, sale, or renewal or continuation of a policy, except to the extent and in the same fashion as an insurer limits coverage or increases premiums for loss caused or contributed to by other medical conditions presenting an increased degree of risk, shall: (1) Require or request, directly or indirectly, any individual or a member of the individual's family to obtain a genetic test; and (2) Condition the provision of the policy upon a requirement that an individual take a genetic test. (d) Nothing in this section shall limit an insurer's right to decline an application or enrollment request for a policy, charge a higher rate or premium for such a policy, or place a limitation on coverage under such a policy, on the basis of manifestations of any condition, disease, or disorder. (e) (1) Any violation of subsections (c) and (d) of this section by an insurer shall be deemed an unfair practice pursuant to § 23-66-206 . (2) In addition, any individual who is damaged by an insurer's violation of this section may recover in a court of competent jurisdiction equitable relief, which may include a retroactive order, directing the insurer to provide insurance coverage to the damaged individual under the same terms and conditions as would have applied had the violation not occurred. (f) Notwithstanding any language in this section to the contrary, this section shall not apply to an insurer or to an individual or third-party dealing with an insurer in the ordinary course of underwriting, conducting, or administering the business of life, disability income, or long-term care insurance. Acts 2001, No. 1221, § 1.

(a) This section shall be known and may be cited as the "Genetic Nondiscrimination in Insurance Act".

(b) For the purposes of this section: (1) "Disability insurance" means insurance of human beings against bodily injury, disablement, or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto, but shall not include disability income or long-term care insurance; (2) "DNA" means deoxyribonucleic acid; (3) (A) "Genetic information" means information derived from the results of a genetic test. (B) Genetic information shall not include: (i) Family history; (ii) The results of a routine physical examination or test; (iii) The results of a routine chemical, blood, or urine analysis; (iv) The results of a test to determine drug use; (v) The results of a test for the presence of the human immunodeficiency virus; or (vi) The results of any other test commonly accepted in clinical practice at the time it is ordered by the insurer; (4) (A) "Genetic test" means a laboratory test of the DNA, RNA, chromosomes, or enzyme activity for genetic disease of an individual for the purpose of identifying the presence or absence of inherited alterations in the DNA, RNA, chromosomes, or enzyme activity for genetic disease that cause a predisposition for a clinically recognized disease or disorder. (B) "Genetic test" shall not include: (i) A routine physical examination or a routine test performed as a part of a physical examination; (ii) A chemical, blood, or urine analysis; (iii) A test to determine drug use; (iv) A test for the presence of the human immunodeficiency virus; or (v) Any other test commonly accepted in clinical practice at the time it is ordered by the insurer; (5) (A) "Insurer" means any individual, corporation, association, partnership, insurance support organization, fraternal benefit society, insurance agent, third-party administration, self-insurer, or any other legal entity engaged in the business of insurance which is licensed to do business in or incorporated or domesticated or domiciled in or under the statutes of this state, or actually engaged in business in this state, regardless of where the contract of insurance is written or the plan is administered or where the corporation is incorporated, that issues disability policies or plans or that administers any other type of disability insurance policy containing medical provisions, including, but not limited to, any nonprofit hospital service and indemnity and medical service and indemnity corporation, health maintenance organizations, preferred provider organizations, prepaid health plans, and the State and Public School Life and Health Insurance Program. (B) "Insurer" shall not include insurers issuing life, disability income, or long-term care insurance; (6) (A) "Policy" or "policy form" means any: (i) Policy, contract, plan, or agreement of disability insurance, or subscriber certificates of medical care corporations, healthcare corporations, hospital service associations, or healthcare maintenance organizations, delivered or issued for delivery in this state by any insurer; (ii) Certificate, contract, or policy issued by a fraternal benefit society; (iii) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and (iv) Evidence of coverage issued by a health maintenance organization. (B) "Policy" or "policy form" shall not include life, disability income, and long-term care insurance policies; and (7) "RNA" means ribonucleic acid.

(1) "Disability insurance" means insurance of human beings against bodily injury, disablement, or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto, but shall not include disability income or long-term care insurance;

(2) "DNA" means deoxyribonucleic acid;

(3) (A) "Genetic information" means information derived from the results of a genetic test. (B) Genetic information shall not include: (i) Family history; (ii) The results of a routine physical examination or test; (iii) The results of a routine chemical, blood, or urine analysis; (iv) The results of a test to determine drug use; (v) The results of a test for the presence of the human immunodeficiency virus; or (vi) The results of any other test commonly accepted in clinical practice at the time it is ordered by the insurer;

(A) "Genetic information" means information derived from the results of a genetic test.

(B) Genetic information shall not include: (i) Family history; (ii) The results of a routine physical examination or test; (iii) The results of a routine chemical, blood, or urine analysis; (iv) The results of a test to determine drug use; (v) The results of a test for the presence of the human immunodeficiency virus; or (vi) The results of any other test commonly accepted in clinical practice at the time it is ordered by the insurer;

(i) Family history;

(ii) The results of a routine physical examination or test;

(iii) The results of a routine chemical, blood, or urine analysis;

(iv) The results of a test to determine drug use;

(v) The results of a test for the presence of the human immunodeficiency virus; or

(vi) The results of any other test commonly accepted in clinical practice at the time it is ordered by the insurer;

(4) (A) "Genetic test" means a laboratory test of the DNA, RNA, chromosomes, or enzyme activity for genetic disease of an individual for the purpose of identifying the presence or absence of inherited alterations in the DNA, RNA, chromosomes, or enzyme activity for genetic disease that cause a predisposition for a clinically recognized disease or disorder. (B) "Genetic test" shall not include: (i) A routine physical examination or a routine test performed as a part of a physical examination; (ii) A chemical, blood, or urine analysis; (iii) A test to determine drug use; (iv) A test for the presence of the human immunodeficiency virus; or (v) Any other test commonly accepted in clinical practice at the time it is ordered by the insurer;

(A) "Genetic test" means a laboratory test of the DNA, RNA, chromosomes, or enzyme activity for genetic disease of an individual for the purpose of identifying the presence or absence of inherited alterations in the DNA, RNA, chromosomes, or enzyme activity for genetic disease that cause a predisposition for a clinically recognized disease or disorder.

(B) "Genetic test" shall not include: (i) A routine physical examination or a routine test performed as a part of a physical examination; (ii) A chemical, blood, or urine analysis; (iii) A test to determine drug use; (iv) A test for the presence of the human immunodeficiency virus; or (v) Any other test commonly accepted in clinical practice at the time it is ordered by the insurer;

(i) A routine physical examination or a routine test performed as a part of a physical examination;

(ii) A chemical, blood, or urine analysis;

(iii) A test to determine drug use;

(iv) A test for the presence of the human immunodeficiency virus; or

(v) Any other test commonly accepted in clinical practice at the time it is ordered by the insurer;

(5) (A) "Insurer" means any individual, corporation, association, partnership, insurance support organization, fraternal benefit society, insurance agent, third-party administration, self-insurer, or any other legal entity engaged in the business of insurance which is licensed to do business in or incorporated or domesticated or domiciled in or under the statutes of this state, or actually engaged in business in this state, regardless of where the contract of insurance is written or the plan is administered or where the corporation is incorporated, that issues disability policies or plans or that administers any other type of disability insurance policy containing medical provisions, including, but not limited to, any nonprofit hospital service and indemnity and medical service and indemnity corporation, health maintenance organizations, preferred provider organizations, prepaid health plans, and the State and Public School Life and Health Insurance Program. (B) "Insurer" shall not include insurers issuing life, disability income, or long-term care insurance;

(A) "Insurer" means any individual, corporation, association, partnership, insurance support organization, fraternal benefit society, insurance agent, third-party administration, self-insurer, or any other legal entity engaged in the business of insurance which is licensed to do business in or incorporated or domesticated or domiciled in or under the statutes of this state, or actually engaged in business in this state, regardless of where the contract of insurance is written or the plan is administered or where the corporation is incorporated, that issues disability policies or plans or that administers any other type of disability insurance policy containing medical provisions, including, but not limited to, any nonprofit hospital service and indemnity and medical service and indemnity corporation, health maintenance organizations, preferred provider organizations, prepaid health plans, and the State and Public School Life and Health Insurance Program.

(B) "Insurer" shall not include insurers issuing life, disability income, or long-term care insurance;

(6) (A) "Policy" or "policy form" means any: (i) Policy, contract, plan, or agreement of disability insurance, or subscriber certificates of medical care corporations, healthcare corporations, hospital service associations, or healthcare maintenance organizations, delivered or issued for delivery in this state by any insurer; (ii) Certificate, contract, or policy issued by a fraternal benefit society; (iii) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and (iv) Evidence of coverage issued by a health maintenance organization. (B) "Policy" or "policy form" shall not include life, disability income, and long-term care insurance policies; and

(A) "Policy" or "policy form" means any: (i) Policy, contract, plan, or agreement of disability insurance, or subscriber certificates of medical care corporations, healthcare corporations, hospital service associations, or healthcare maintenance organizations, delivered or issued for delivery in this state by any insurer; (ii) Certificate, contract, or policy issued by a fraternal benefit society; (iii) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and (iv) Evidence of coverage issued by a health maintenance organization.

(i) Policy, contract, plan, or agreement of disability insurance, or subscriber certificates of medical care corporations, healthcare corporations, hospital service associations, or healthcare maintenance organizations, delivered or issued for delivery in this state by any insurer;

(ii) Certificate, contract, or policy issued by a fraternal benefit society;

(iii) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and

(iv) Evidence of coverage issued by a health maintenance organization.

(B) "Policy" or "policy form" shall not include life, disability income, and long-term care insurance policies; and

(7) "RNA" means ribonucleic acid.

(c) No insurer, for the purpose of determining eligibility of any individual for any insurance coverage, establishing premiums, limiting coverage, renewing coverage, terminating coverage, or any other underwriting decision in connection with the offer, sale, or renewal or continuation of a policy, except to the extent and in the same fashion as an insurer limits coverage or increases premiums for loss caused or contributed to by other medical conditions presenting an increased degree of risk, shall: (1) Require or request, directly or indirectly, any individual or a member of the individual's family to obtain a genetic test; and (2) Condition the provision of the policy upon a requirement that an individual take a genetic test.

(1) Require or request, directly or indirectly, any individual or a member of the individual's family to obtain a genetic test; and

(2) Condition the provision of the policy upon a requirement that an individual take a genetic test.

(d) Nothing in this section shall limit an insurer's right to decline an application or enrollment request for a policy, charge a higher rate or premium for such a policy, or place a limitation on coverage under such a policy, on the basis of manifestations of any condition, disease, or disorder.

(e) (1) Any violation of subsections (c) and (d) of this section by an insurer shall be deemed an unfair practice pursuant to § 23-66-206 . (2) In addition, any individual who is damaged by an insurer's violation of this section may recover in a court of competent jurisdiction equitable relief, which may include a retroactive order, directing the insurer to provide insurance coverage to the damaged individual under the same terms and conditions as would have applied had the violation not occurred.

(1) Any violation of subsections (c) and (d) of this section by an insurer shall be deemed an unfair practice pursuant to § 23-66-206 .

(2) In addition, any individual who is damaged by an insurer's violation of this section may recover in a court of competent jurisdiction equitable relief, which may include a retroactive order, directing the insurer to provide insurance coverage to the damaged individual under the same terms and conditions as would have applied had the violation not occurred.

(f) Notwithstanding any language in this section to the contrary, this section shall not apply to an insurer or to an individual or third-party dealing with an insurer in the ordinary course of underwriting, conducting, or administering the business of life, disability income, or long-term care insurance.

Acts 2001, No. 1221, § 1.
Ark. Code Ann. § 23-13-304 — AR Code / Title 23 / Chapter 13 / Subchapter 3 / Section 23-13-304
Service of process and notices
Status: in_force

(a) All process issued by the Arkansas Department of Transportation shall extend to all parts of the state. (b) Any process, together with the services of all notices issued by the department, as well as copies of complaints, rules, and orders of the department, may be served by a member of the Division of Arkansas State Police or any person authorized to serve process issued out of courts of law or by registered mail as the department may direct. (c) In the event any process is directed to any nonresident who is authorized to do business in this state, the process may be served upon the agent designated by the nonresident for the service of process, and service upon the agent shall be as sufficient and as effective as if served upon the person himself or herself. Amended by Act 2019, No. 315,§ 2451, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 223, eff. 8/1/2017. Acts 1939, No. 315, §§ 10, 11; A.S.A. 1947, §§ 73-1739, 73-1740.

(a) All process issued by the Arkansas Department of Transportation shall extend to all parts of the state.

(b) Any process, together with the services of all notices issued by the department, as well as copies of complaints, rules, and orders of the department, may be served by a member of the Division of Arkansas State Police or any person authorized to serve process issued out of courts of law or by registered mail as the department may direct.

(c) In the event any process is directed to any nonresident who is authorized to do business in this state, the process may be served upon the agent designated by the nonresident for the service of process, and service upon the agent shall be as sufficient and as effective as if served upon the person himself or herself.

Amended by Act 2019, No. 315,§ 2451, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 223, eff. 8/1/2017.

Acts 1939, No. 315, §§ 10, 11; A.S.A. 1947, §§ 73-1739, 73-1740.
Ark. Code Ann. § 23-84-108 — AR Code / Title 23 / Chapter 84 / Section 23-84-108
Calculation of reserves - Minimum aggregate reserves for certain life insurance policies
Status: in_force

(a) In no event shall an insurer's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after June 17, 1981, be less than the aggregate reserves calculated in accordance with the methods set forth in §§ 23-84-106 , 23-84-107 , 23-84-110 , and 23-84-111 , and the mortality tables and rates of interest used in calculating nonforfeiture benefits for the policies. (b) In no event shall the aggregate reserves for all policies, contracts, and benefits be less than the aggregate reserves determined by the appointed actuary to be necessary to render the opinion required by § 23-84-112 . Amended by Act 2015, No. 1223,§ 41, eff. 7/22/2015. Acts 1959, No. 148, § 92; 1977, No. 551, § 4; 1981, No. 535, § 1; A.S.A. 1947, § 66-2511; Acts 1995, No. 1272, § 17.

(a) In no event shall an insurer's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after June 17, 1981, be less than the aggregate reserves calculated in accordance with the methods set forth in §§ 23-84-106 , 23-84-107 , 23-84-110 , and 23-84-111 , and the mortality tables and rates of interest used in calculating nonforfeiture benefits for the policies.

(b) In no event shall the aggregate reserves for all policies, contracts, and benefits be less than the aggregate reserves determined by the appointed actuary to be necessary to render the opinion required by § 23-84-112 .

Amended by Act 2015, No. 1223,§ 41, eff. 7/22/2015.

Acts 1959, No. 148, § 92; 1977, No. 551, § 4; 1981, No. 535, § 1; A.S.A. 1947, § 66-2511; Acts 1995, No. 1272, § 17.
Ark. Code Ann. § 23-37-811 — AR Code / Title 23 / Chapter 37 / Subchapter 8 / Section 23-37-811
Registration of association - Reports - Rules
Status: in_force

(a) Each Arkansas association, Arkansas savings and loan holding company, southern region association controlling an Arkansas association, and southern region savings and loan holding company controlling an Arkansas association which engages in a transaction which requires approval of the Savings and Loan Association Board [abolished] pursuant to § 23-37-807 shall, within thirty (30) days after approval of the transaction, initially register and file annually with the board forms prescribed by the board. These forms shall include such information with respect to the financial condition and operations, management, and relations between applicable associations and savings and loan holding companies, and related matters, as the board may consider necessary or appropriate to carry out the purposes of these sections. (b) To the extent authorized by law, the board may make examinations of each association or savings and loan holding company required to be registered pursuant to subsection (a) of this section and any service corporation of the association, the cost of which must be assessed against and paid by the association. (c) The board may enter into cooperative and reciprocal agreements with the association and savings and loan holding company regulatory authorities of any state or of the United States for the periodic examination of associations and savings and loan holding companies that are required to be registered under the provisions of subsection (a) of this section and may accept reports of examinations and other records from the authorities in lieu of conducting its own examinations. (d) The board may establish rules to carry out the purposes of this subchapter. Amended by Act 2019, No. 315,§ 2499, eff. 7/24/2019. Acts 1987, No. 45, § 10.

(a) Each Arkansas association, Arkansas savings and loan holding company, southern region association controlling an Arkansas association, and southern region savings and loan holding company controlling an Arkansas association which engages in a transaction which requires approval of the Savings and Loan Association Board [abolished] pursuant to § 23-37-807 shall, within thirty (30) days after approval of the transaction, initially register and file annually with the board forms prescribed by the board. These forms shall include such information with respect to the financial condition and operations, management, and relations between applicable associations and savings and loan holding companies, and related matters, as the board may consider necessary or appropriate to carry out the purposes of these sections.

(b) To the extent authorized by law, the board may make examinations of each association or savings and loan holding company required to be registered pursuant to subsection (a) of this section and any service corporation of the association, the cost of which must be assessed against and paid by the association.

(c) The board may enter into cooperative and reciprocal agreements with the association and savings and loan holding company regulatory authorities of any state or of the United States for the periodic examination of associations and savings and loan holding companies that are required to be registered under the provisions of subsection (a) of this section and may accept reports of examinations and other records from the authorities in lieu of conducting its own examinations.

(d) The board may establish rules to carry out the purposes of this subchapter.

Amended by Act 2019, No. 315,§ 2499, eff. 7/24/2019.

Acts 1987, No. 45, § 10.
Ark. Code Ann. § 23-74-608 — AR Code / Title 23 / Chapter 74 / Subchapter 6 / Section 23-74-608
Injunction
Status: in_force

No application or petition for injunction against any domestic, foreign, or alien society, or lodge thereof, shall be recognized in any court of this state unless made by the Attorney General upon request of the Insurance Commissioner. Acts 1989, No. 881, § 1.

No application or petition for injunction against any domestic, foreign, or alien society, or lodge thereof, shall be recognized in any court of this state unless made by the Attorney General upon request of the Insurance Commissioner.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-51-166 — AR Code / Title 23 / Chapter 51 / Section 23-51-166
Activities not requiring a charter, etc
Status: in_force

Notwithstanding any other provision of this chapter, a company does not engage in the trust business or in any other business in a manner requiring a charter or license under this chapter or in an unauthorized trust activity by: (1) Acting in a manner authorized by law and in the scope of authority as an agent of a trust institution with respect to an activity which is not an unauthorized trust activity; (2) Rendering a service customarily performed as an attorney or law firm in a manner approved and authorized by the Supreme Court or the laws of this state; (3) Acting as trustee under a deed of trust delivered only as security for the payment of money or for the performance of another act; (4) Receiving and distributing rents and proceeds of sale as a licensed real estate broker on behalf of a principal in a manner authorized by the Real Estate License Law, § 17-42-101 et seq.; (5) Engaging in a securities transaction or providing an investment advisory service as a licensed and registered broker-dealer, investment advisor or registered representative thereof, provided the activity is regulated by the State Securities Department or the United States Securities and Exchange Commission; (6) Engaging in the sale and administration of an insurance product by an insurance company or agent licensed by the State Insurance Department to the extent that the activity is regulated by the State Insurance Department; (7) Engaging in the lawful sale of prepaid funeral benefits under a permit issued by the State Insurance Department under the Arkansas Prepaid Funeral Benefits Law, § 23-40-101 et seq., or engaging in the lawful business of maintaining a perpetual care cemetery trust pursuant to § 20-17-904 or a permanent maintenance fund for perpetually maintained cemeteries under the Cemetery Act for Perpetually Maintained Cemeteries, § 20-17-1001 et seq.; (8) Acting as trustee under a voting trust as provided by § 4-26-706 or § 4-27-730 ; (9) Engaging in other activities expressly excluded from the application of this chapter by rules issued by the Bank Commissioner; (10) Rendering services customarily performed by a public accountant or a certified public accountant in a manner authorized by the Arkansas State Board of Public Accountancy; (11) Provided the company is a trust institution and is not barred by order of the commissioner from engaging in a trust business in this state pursuant to § 23-51-182(b) : (A) Marketing or soliciting in this state through the mails, telephone, any electronic means or in person with respect to acting or proposing to act as a fiduciary outside of this state; (B) Delivering money or other intangible assets and receiving the same from a client or other person in this state; or (C) Accepting or executing outside of this state a trust of any client or otherwise acting as a fiduciary outside of this state for any client; or (12) If the company is a foundation, serving as a fiduciary. Amended by Act 2019, No. 315,§ 2599, eff. 7/24/2019. Amended by Act 2019, No. 836,§ 5, eff. 7/24/2019. Acts 1997, No. 940, § 66.

Notwithstanding any other provision of this chapter, a company does not engage in the trust business or in any other business in a manner requiring a charter or license under this chapter or in an unauthorized trust activity by:

(1) Acting in a manner authorized by law and in the scope of authority as an agent of a trust institution with respect to an activity which is not an unauthorized trust activity;

(2) Rendering a service customarily performed as an attorney or law firm in a manner approved and authorized by the Supreme Court or the laws of this state;

(3) Acting as trustee under a deed of trust delivered only as security for the payment of money or for the performance of another act;

(4) Receiving and distributing rents and proceeds of sale as a licensed real estate broker on behalf of a principal in a manner authorized by the Real Estate License Law, § 17-42-101 et seq.;

(5) Engaging in a securities transaction or providing an investment advisory service as a licensed and registered broker-dealer, investment advisor or registered representative thereof, provided the activity is regulated by the State Securities Department or the United States Securities and Exchange Commission;

(6) Engaging in the sale and administration of an insurance product by an insurance company or agent licensed by the State Insurance Department to the extent that the activity is regulated by the State Insurance Department;

(7) Engaging in the lawful sale of prepaid funeral benefits under a permit issued by the State Insurance Department under the Arkansas Prepaid Funeral Benefits Law, § 23-40-101 et seq., or engaging in the lawful business of maintaining a perpetual care cemetery trust pursuant to § 20-17-904 or a permanent maintenance fund for perpetually maintained cemeteries under the Cemetery Act for Perpetually Maintained Cemeteries, § 20-17-1001 et seq.;

(8) Acting as trustee under a voting trust as provided by § 4-26-706 or § 4-27-730 ;

(9) Engaging in other activities expressly excluded from the application of this chapter by rules issued by the Bank Commissioner;

(10) Rendering services customarily performed by a public accountant or a certified public accountant in a manner authorized by the Arkansas State Board of Public Accountancy;

(11) Provided the company is a trust institution and is not barred by order of the commissioner from engaging in a trust business in this state pursuant to § 23-51-182(b) : (A) Marketing or soliciting in this state through the mails, telephone, any electronic means or in person with respect to acting or proposing to act as a fiduciary outside of this state; (B) Delivering money or other intangible assets and receiving the same from a client or other person in this state; or (C) Accepting or executing outside of this state a trust of any client or otherwise acting as a fiduciary outside of this state for any client; or

(A) Marketing or soliciting in this state through the mails, telephone, any electronic means or in person with respect to acting or proposing to act as a fiduciary outside of this state;

(B) Delivering money or other intangible assets and receiving the same from a client or other person in this state; or

(C) Accepting or executing outside of this state a trust of any client or otherwise acting as a fiduciary outside of this state for any client; or

(12) If the company is a foundation, serving as a fiduciary.

Amended by Act 2019, No. 315,§ 2599, eff. 7/24/2019.

Amended by Act 2019, No. 836,§ 5, eff. 7/24/2019.

Acts 1997, No. 940, § 66.
Ark. Code Ann. § 23-101-106 — AR Code / Title 23 / Chapter 101 / Section 23-101-106
Calculation and payment of premiums
Status: in_force

(a) Premiums for creditor-placed insurance coverage may be calculated based on: (1) An amount not exceeding the net debt even though the coverage may limit the insurer's liability to the net debt, actual cash value, or cost of repair; or (2) Other premium calculation methods that more closely reflect the exposure of each item insured and approximate the premium calculation method of the coverage required by the credit agreement. (b) (1) An insurer shall not write creditor-placed insurance for which the premium rate differs from that determined by the schedules of the insurer on file with the Insurance Commissioner. (2) The premium or amount charged to the debtor for creditor-placed insurance shall not exceed the premiums charged by the insurer, computed at the time the charge to the debtor is determined. (c) A method of billing insurance charges to the debtor on closed-end credit transactions that creates a balloon payment at the end of the credit transaction or extends the credit transaction's maturity date is prohibited unless specifically disclosed at the time of the origination of the credit agreement and specifically agreed to by the debtor. Acts 1997, No. 930, § 5.

(a) Premiums for creditor-placed insurance coverage may be calculated based on: (1) An amount not exceeding the net debt even though the coverage may limit the insurer's liability to the net debt, actual cash value, or cost of repair; or (2) Other premium calculation methods that more closely reflect the exposure of each item insured and approximate the premium calculation method of the coverage required by the credit agreement.

(1) An amount not exceeding the net debt even though the coverage may limit the insurer's liability to the net debt, actual cash value, or cost of repair; or

(2) Other premium calculation methods that more closely reflect the exposure of each item insured and approximate the premium calculation method of the coverage required by the credit agreement.

(b) (1) An insurer shall not write creditor-placed insurance for which the premium rate differs from that determined by the schedules of the insurer on file with the Insurance Commissioner. (2) The premium or amount charged to the debtor for creditor-placed insurance shall not exceed the premiums charged by the insurer, computed at the time the charge to the debtor is determined.

(1) An insurer shall not write creditor-placed insurance for which the premium rate differs from that determined by the schedules of the insurer on file with the Insurance Commissioner.

(2) The premium or amount charged to the debtor for creditor-placed insurance shall not exceed the premiums charged by the insurer, computed at the time the charge to the debtor is determined.

(c) A method of billing insurance charges to the debtor on closed-end credit transactions that creates a balloon payment at the end of the credit transaction or extends the credit transaction's maturity date is prohibited unless specifically disclosed at the time of the origination of the credit agreement and specifically agreed to by the debtor.

Acts 1997, No. 930, § 5.