Ark. Code Ann. § 23-67-202 — AR Code / Title 23 / Chapter 67 / Subchapter 2 / Section 23-67-202
Definitions
Status: in_force

As used in this chapter, unless the context otherwise requires: (1) (A) (i) "Advisory organization" or "rate service organization" means any entity which either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers, licensed under § 23-67-214 , and which assists insurers in ratemaking-related activities such as those enumerated in § 23-67-216 . (ii) Two (2) or more insurers having a common ownership or operating in this state under common management or control constitute a single insurer for the purpose of this definition. (B) The term "advisory organization" shall not include a joint underwriting association prescribed by law, any actuarial or legal consultant, or any employee of an insurer; (2) "Commercial risk" means any kind of risk which is not a personal risk, as defined in subdivision (7) of this section; (3) "Competitive market" means a market in which a reasonable degree of competition exists and which has not been found to be noncompetitive pursuant to § 23-67-207 ; (4) "Loss development" means the adjustment of losses as of some particular date to an ultimate settlement basis based on past maturity patterns; (5) "Loss trending" means any procedure for projecting developed losses for the cost-level adjustment to the average date of loss for the period during which the policies are to be effective; (6) "Noncompetitive market" means a market in which a reasonable degree of competition does not exist pursuant to the provisions of this chapter; (7) "Personal risks" means homeowners, tenants, private passenger nonfleet automobiles, mobile homes, and other property and casualty insurance for personal, family, or household needs; (8) "Pool" means a voluntary arrangement, established on an ongoing basis, pursuant to which two (2) or more insurers participate in the sharing of risks on a predetermined basis. The pool may operate through an association, syndicate, or other pooling agreement; (9) "Pure premium" means that part of the premium which is sufficient to pay losses and loss adjustment expenses only; (10) "Rates" or "supplementary rate information" includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, and any other similar information needed to determine the applicable rate in effect or to be in effect; (11) "Residual market mechanism" means an arrangement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance which may be afforded to applicants who are unable to obtain insurance through ordinary methods; and (12) "Supporting information" means: (A) The experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer; (B) The interpretation of any statistical data relied upon by the filer; (C) Descriptions of methods used in making the rates; and (D) Other information required by the Insurance Commissioner to be filed. Acts 1987, No. 959, § 3.

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

(1) (A) (i) "Advisory organization" or "rate service organization" means any entity which either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers, licensed under § 23-67-214 , and which assists insurers in ratemaking-related activities such as those enumerated in § 23-67-216 . (ii) Two (2) or more insurers having a common ownership or operating in this state under common management or control constitute a single insurer for the purpose of this definition. (B) The term "advisory organization" shall not include a joint underwriting association prescribed by law, any actuarial or legal consultant, or any employee of an insurer;

(A) (i) "Advisory organization" or "rate service organization" means any entity which either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers, licensed under § 23-67-214 , and which assists insurers in ratemaking-related activities such as those enumerated in § 23-67-216 . (ii) Two (2) or more insurers having a common ownership or operating in this state under common management or control constitute a single insurer for the purpose of this definition.

(i) "Advisory organization" or "rate service organization" means any entity which either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers, licensed under § 23-67-214 , and which assists insurers in ratemaking-related activities such as those enumerated in § 23-67-216 .

(ii) Two (2) or more insurers having a common ownership or operating in this state under common management or control constitute a single insurer for the purpose of this definition.

(B) The term "advisory organization" shall not include a joint underwriting association prescribed by law, any actuarial or legal consultant, or any employee of an insurer;

(2) "Commercial risk" means any kind of risk which is not a personal risk, as defined in subdivision (7) of this section;

(3) "Competitive market" means a market in which a reasonable degree of competition exists and which has not been found to be noncompetitive pursuant to § 23-67-207 ;

(4) "Loss development" means the adjustment of losses as of some particular date to an ultimate settlement basis based on past maturity patterns;

(5) "Loss trending" means any procedure for projecting developed losses for the cost-level adjustment to the average date of loss for the period during which the policies are to be effective;

(6) "Noncompetitive market" means a market in which a reasonable degree of competition does not exist pursuant to the provisions of this chapter;

(7) "Personal risks" means homeowners, tenants, private passenger nonfleet automobiles, mobile homes, and other property and casualty insurance for personal, family, or household needs;

(8) "Pool" means a voluntary arrangement, established on an ongoing basis, pursuant to which two (2) or more insurers participate in the sharing of risks on a predetermined basis. The pool may operate through an association, syndicate, or other pooling agreement;

(9) "Pure premium" means that part of the premium which is sufficient to pay losses and loss adjustment expenses only;

(10) "Rates" or "supplementary rate information" includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, and any other similar information needed to determine the applicable rate in effect or to be in effect;

(11) "Residual market mechanism" means an arrangement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance which may be afforded to applicants who are unable to obtain insurance through ordinary methods; and

(12) "Supporting information" means: (A) The experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer; (B) The interpretation of any statistical data relied upon by the filer; (C) Descriptions of methods used in making the rates; and (D) Other information required by the Insurance Commissioner to be filed.

(A) The experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer;

(B) The interpretation of any statistical data relied upon by the filer;

(C) Descriptions of methods used in making the rates; and

(D) Other information required by the Insurance Commissioner to be filed.

Acts 1987, No. 959, § 3.
Ark. Code Ann. § 23-114-401 — AR Code / Title 23 / Chapter 114 / Subchapter 4 / Section 23-114-401
Bingo premises - Sale of raffle tickets
Status: in_force

(a) (1) Games of bingo shall not be conducted at more than one (1) premises on property owned or leased by a licensed authorized organization. (2) (A) No more than two (2) organizations may conduct bingo games at the same premises so long as that premises is owned or leased by a licensed authorized organization. (B) No more than four (4) bingo sessions shall be conducted at the same premises during any one (1) calendar week. (3) Games of bingo under this chapter shall not be conducted through any system that links the games of bingo or participants at one (1) premises location to any other premises or participants. (4) All participants in games of bingo shall be physically present in person at the authorized premises in a single facility in order to play a game of bingo under this chapter. (b) (1) The conduct of raffles is not limited to property owned or leased by a licensed authorized organization, but shall be conducted pursuant to the rules of the Department of Finance and Administration. (2) Raffle tickets may be sold: (A) At the authorized premises of the licensed authorized organization; and (B) Off the authorized premises of the licensed authorized organization if the tickets are sold by uncompensated volunteers of the licensed authorized organization. (3) No raffle ticket shall be sold through the mail or through the internet, email, fax, telephone, or any other electronic means. (4) The licensed authorized organization and uncompensated volunteers of the licensed authorized organization may advertise the charitable raffle through the: (A) Mail; (B) Telephone; (C) Licensed authorized organization's website; or (D) Social media outlets of the: (i) Licensed authorized organization; and (ii) Uncompensated volunteers of the licensed authorized organization. Amended by Act 2023, No. 188,§ 1, eff. 8/1/2023. Acts 2007, No. 388, § 1; 2009, No. 499, § 6.

(a) (1) Games of bingo shall not be conducted at more than one (1) premises on property owned or leased by a licensed authorized organization. (2) (A) No more than two (2) organizations may conduct bingo games at the same premises so long as that premises is owned or leased by a licensed authorized organization. (B) No more than four (4) bingo sessions shall be conducted at the same premises during any one (1) calendar week. (3) Games of bingo under this chapter shall not be conducted through any system that links the games of bingo or participants at one (1) premises location to any other premises or participants. (4) All participants in games of bingo shall be physically present in person at the authorized premises in a single facility in order to play a game of bingo under this chapter.

(1) Games of bingo shall not be conducted at more than one (1) premises on property owned or leased by a licensed authorized organization.

(2) (A) No more than two (2) organizations may conduct bingo games at the same premises so long as that premises is owned or leased by a licensed authorized organization. (B) No more than four (4) bingo sessions shall be conducted at the same premises during any one (1) calendar week.

(A) No more than two (2) organizations may conduct bingo games at the same premises so long as that premises is owned or leased by a licensed authorized organization.

(B) No more than four (4) bingo sessions shall be conducted at the same premises during any one (1) calendar week.

(3) Games of bingo under this chapter shall not be conducted through any system that links the games of bingo or participants at one (1) premises location to any other premises or participants.

(4) All participants in games of bingo shall be physically present in person at the authorized premises in a single facility in order to play a game of bingo under this chapter.

(b) (1) The conduct of raffles is not limited to property owned or leased by a licensed authorized organization, but shall be conducted pursuant to the rules of the Department of Finance and Administration. (2) Raffle tickets may be sold: (A) At the authorized premises of the licensed authorized organization; and (B) Off the authorized premises of the licensed authorized organization if the tickets are sold by uncompensated volunteers of the licensed authorized organization. (3) No raffle ticket shall be sold through the mail or through the internet, email, fax, telephone, or any other electronic means. (4) The licensed authorized organization and uncompensated volunteers of the licensed authorized organization may advertise the charitable raffle through the: (A) Mail; (B) Telephone; (C) Licensed authorized organization's website; or (D) Social media outlets of the: (i) Licensed authorized organization; and (ii) Uncompensated volunteers of the licensed authorized organization.

(1) The conduct of raffles is not limited to property owned or leased by a licensed authorized organization, but shall be conducted pursuant to the rules of the Department of Finance and Administration.

(2) Raffle tickets may be sold: (A) At the authorized premises of the licensed authorized organization; and (B) Off the authorized premises of the licensed authorized organization if the tickets are sold by uncompensated volunteers of the licensed authorized organization.

(A) At the authorized premises of the licensed authorized organization; and

(B) Off the authorized premises of the licensed authorized organization if the tickets are sold by uncompensated volunteers of the licensed authorized organization.

(3) No raffle ticket shall be sold through the mail or through the internet, email, fax, telephone, or any other electronic means.

(4) The licensed authorized organization and uncompensated volunteers of the licensed authorized organization may advertise the charitable raffle through the: (A) Mail; (B) Telephone; (C) Licensed authorized organization's website; or (D) Social media outlets of the: (i) Licensed authorized organization; and (ii) Uncompensated volunteers of the licensed authorized organization.

(A) Mail;

(B) Telephone;

(C) Licensed authorized organization's website; or

(D) Social media outlets of the: (i) Licensed authorized organization; and (ii) Uncompensated volunteers of the licensed authorized organization.

(i) Licensed authorized organization; and

(ii) Uncompensated volunteers of the licensed authorized organization.

Amended by Act 2023, No. 188,§ 1, eff. 8/1/2023.

Acts 2007, No. 388, § 1; 2009, No. 499, § 6.
Ark. Code Ann. § 23-63-1624 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1624
Dormant captive insurance company - Definition
Status: in_force

(a) As used in this section, "dormant captive insurance company" means a pure captive insurance company, sponsored captive insurance company, or industrial insured captive insurance company that has: (1) Ceased transacting the business of insurance, including the issuance of insurance policies; and (2) No remaining liabilities associated with insurance business transactions, or insurance policies issued before the filing of its application for a certificate of dormancy under this section. (b) (1) A captive insurance company domiciled in this state that meets the criteria of subsection (a) of this section may apply to the Insurance Commissioner for a certificate of dormancy. (2) The certificate of dormancy is subject to renewal every five (5) years and shall be forfeited if not renewed within that time. (c) A dormant captive insurance company that has been issued a certificate of dormancy shall: (1) Possess and thereafter maintain unimpaired, paid-in capital and surplus of not less than twenty-five thousand dollars ($25,000); (2) Before March 15 of each year, submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers, in a form as may be prescribed by the commissioner; and (3) Pay a license renewal fee as provided in the rules promulgated by the commissioner under Section 18 of Rule and Regulation 73 of the State Insurance Department. (d) A dormant captive insurance company is not subject to or liable for the payment of any tax under § 23-63-1614 . (e) A dormant captive insurance company shall apply to the commissioner for approval to surrender its certificate of dormancy and resume conducting the business of insurance before issuing any insurance policies. (f) A certificate of dormancy shall be revoked if a dormant captive insurance company no longer meets the criteria of subsection (a) of this section. (g) The commissioner may establish guidelines and procedures as necessary to carry out this section. Added by Act 2017, No. 370,§ 10, eff. 8/1/2017.

(a) As used in this section, "dormant captive insurance company" means a pure captive insurance company, sponsored captive insurance company, or industrial insured captive insurance company that has: (1) Ceased transacting the business of insurance, including the issuance of insurance policies; and (2) No remaining liabilities associated with insurance business transactions, or insurance policies issued before the filing of its application for a certificate of dormancy under this section.

(1) Ceased transacting the business of insurance, including the issuance of insurance policies; and

(2) No remaining liabilities associated with insurance business transactions, or insurance policies issued before the filing of its application for a certificate of dormancy under this section.

(b) (1) A captive insurance company domiciled in this state that meets the criteria of subsection (a) of this section may apply to the Insurance Commissioner for a certificate of dormancy. (2) The certificate of dormancy is subject to renewal every five (5) years and shall be forfeited if not renewed within that time.

(1) A captive insurance company domiciled in this state that meets the criteria of subsection (a) of this section may apply to the Insurance Commissioner for a certificate of dormancy.

(2) The certificate of dormancy is subject to renewal every five (5) years and shall be forfeited if not renewed within that time.

(c) A dormant captive insurance company that has been issued a certificate of dormancy shall: (1) Possess and thereafter maintain unimpaired, paid-in capital and surplus of not less than twenty-five thousand dollars ($25,000); (2) Before March 15 of each year, submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers, in a form as may be prescribed by the commissioner; and (3) Pay a license renewal fee as provided in the rules promulgated by the commissioner under Section 18 of Rule and Regulation 73 of the State Insurance Department.

(1) Possess and thereafter maintain unimpaired, paid-in capital and surplus of not less than twenty-five thousand dollars ($25,000);

(2) Before March 15 of each year, submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers, in a form as may be prescribed by the commissioner; and

(3) Pay a license renewal fee as provided in the rules promulgated by the commissioner under Section 18 of Rule and Regulation 73 of the State Insurance Department.

(d) A dormant captive insurance company is not subject to or liable for the payment of any tax under § 23-63-1614 .

(e) A dormant captive insurance company shall apply to the commissioner for approval to surrender its certificate of dormancy and resume conducting the business of insurance before issuing any insurance policies.

(f) A certificate of dormancy shall be revoked if a dormant captive insurance company no longer meets the criteria of subsection (a) of this section.

(g) The commissioner may establish guidelines and procedures as necessary to carry out this section.

Added by Act 2017, No. 370,§ 10, eff. 8/1/2017.
Ark. Code Ann. § 23-39-512 — AR Code / Title 23 / Chapter 39 / Subchapter 5 / Section 23-39-512
Public inspection of records - Exceptions
Status: in_force

(a) (1) Unless otherwise specified in this section, all information filed with the Securities Commissioner shall be available for public inspection. (2) The information contained in or filed with any application or report may be made available to the public under any rules the commissioner prescribes that are consistent with state or federal law governing the disclosure of public information. (b) Except for reasonably segregable portions of information and records that by law would be made routinely available to a party in litigation with the commissioner, the commissioner shall not publish or make available the following information: (1) Information contained in reports, summaries, analyses, letters, or memoranda arising out of, in anticipation of, or in connection with an examination or inspection of the books and records of any person or any other investigation; (2) Interagency or intra-agency memoranda or letters, including: (A) Generally, records that reflect discussions between or consideration by the commissioner or members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department, or both, of any action taken or proposed to be taken by the commissioner or by any members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department; and (B) Specifically, reports, summaries, analyses, conclusions, or any other work product of the commissioner or of attorneys, accountants, analysts, or other members of the commissioner's staff, prepared in the course of an inspection of the books or records of any person whose affairs are regulated by the commissioner or prepared otherwise in the course of an examination or investigation or related litigation conducted by or on behalf of the commissioner; (3) Personnel and medical files and similar files the disclosure of which would constitute a clearly unwarranted invasion of personal privacy, including: (A) Information concerning all employees of the State Securities Department or the Department of Commerce working for the State Securities Department and information concerning persons subject to regulation by the State Securities Department; and (B) Personal information about employees of mortgage brokers, mortgage bankers, mortgage servicers, loan officers, or transitional loan officers reported to the commissioner under the State Securities Department's rules concerning registration of those persons; (4) (A) Investigatory records compiled for law enforcement purposes to the extent that production of the records would: (i) Interfere with enforcement proceedings; (ii) Deprive a person of a right to a fair trial or an impartial adjudication; or (iii) Disclose the identity of a confidential source. (B) The commissioner may also withhold investigatory records that would: (i) Constitute an unwarranted invasion of personal privacy; (ii) Disclose investigative techniques and procedures; or (iii) Endanger the life or physical safety of law enforcement personnel. (C) Investigatory records under this section include: (i) All documents, records, transcripts, correspondence, and related memoranda and work products concerning examinations and other investigations and related litigation as authorized by law that pertain to or may disclose the possible violations by any person of any provision of any of the statutes or rules administered by the commissioner; and (ii) All written communications from or to any person confidentially complaining or otherwise furnishing information respecting the possible violations, as well as all correspondence and memoranda in connection with the confidential complaints or information; (5) Information contained in or related to examinations, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions or mortgage lenders; (6) (A) Financial records of mortgage bankers, mortgage brokers, mortgage servicers, loan officers, or transitional loan officers, obtained during or as a result of an examination by the State Securities Department. (B) However, when a record under this subchapter is required to be filed with the commissioner as part of an application for license, annual renewal, or otherwise, the record, including financial statements prepared by certified public accountants, shall be public information unless sections of the information are bound separately and are marked "confidential" by the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer upon its submission. (C) Information under subdivision (6)(B) of this section bound separately and marked "confidential" shall be considered nonpublic until ten (10) days after the commissioner has given the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer notice that an order will be entered declaring the material public. (D) If the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer believes the commissioner's order is incorrect, the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer may seek an injunction from the Pulaski County Circuit Court ordering the State Securities Department to hold the information as nonpublic pending a final order from a court of competent jurisdiction if the order of the commissioner is appealed under applicable law; (7) Trade secrets obtained from any person; or (8) Any other records that are required to be closed to the public and are not considered open to public inspection under the Freedom of Information Act of 1967, § 25-19-101 et seq., or under other law. (c) This section does not prevent the commissioner from sharing with other state or federal law enforcement authorities, regulatory authorities, or self-regulatory organizations authorized by law any information that the commissioner may have or may obtain in aid of the enforcement of this subchapter or any other state or federal law. (d) (1) Except as otherwise provided in this subchapter, the requirements of any federal or state law regarding privacy or confidentiality of any information or material provided to an automated licensing system under this subchapter and any privilege arising under federal or state law, including the rules of any federal or state court with respect to the information or material, shall continue to apply to the information or material after the information or material has been disclosed to the automated licensing system. (2) The information or material provided to an automated licensing system under this subchapter may be shared with a state or federal regulatory official with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law. Amended by Act 2019, No. 315,§ 2500, eff. 7/24/2019. Amended by Act 2019, No. 200,§ 21, eff. 7/24/2019. Amended by Act 2019, No. 200,§ 20, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 574, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 573, eff. 7/1/2019. Acts 2003, No. 554, § 1; 2009, No. 731, §§ 23, 24.

(a) (1) Unless otherwise specified in this section, all information filed with the Securities Commissioner shall be available for public inspection. (2) The information contained in or filed with any application or report may be made available to the public under any rules the commissioner prescribes that are consistent with state or federal law governing the disclosure of public information.

(1) Unless otherwise specified in this section, all information filed with the Securities Commissioner shall be available for public inspection.

(2) The information contained in or filed with any application or report may be made available to the public under any rules the commissioner prescribes that are consistent with state or federal law governing the disclosure of public information.

(b) Except for reasonably segregable portions of information and records that by law would be made routinely available to a party in litigation with the commissioner, the commissioner shall not publish or make available the following information: (1) Information contained in reports, summaries, analyses, letters, or memoranda arising out of, in anticipation of, or in connection with an examination or inspection of the books and records of any person or any other investigation; (2) Interagency or intra-agency memoranda or letters, including: (A) Generally, records that reflect discussions between or consideration by the commissioner or members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department, or both, of any action taken or proposed to be taken by the commissioner or by any members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department; and (B) Specifically, reports, summaries, analyses, conclusions, or any other work product of the commissioner or of attorneys, accountants, analysts, or other members of the commissioner's staff, prepared in the course of an inspection of the books or records of any person whose affairs are regulated by the commissioner or prepared otherwise in the course of an examination or investigation or related litigation conducted by or on behalf of the commissioner; (3) Personnel and medical files and similar files the disclosure of which would constitute a clearly unwarranted invasion of personal privacy, including: (A) Information concerning all employees of the State Securities Department or the Department of Commerce working for the State Securities Department and information concerning persons subject to regulation by the State Securities Department; and (B) Personal information about employees of mortgage brokers, mortgage bankers, mortgage servicers, loan officers, or transitional loan officers reported to the commissioner under the State Securities Department's rules concerning registration of those persons; (4) (A) Investigatory records compiled for law enforcement purposes to the extent that production of the records would: (i) Interfere with enforcement proceedings; (ii) Deprive a person of a right to a fair trial or an impartial adjudication; or (iii) Disclose the identity of a confidential source. (B) The commissioner may also withhold investigatory records that would: (i) Constitute an unwarranted invasion of personal privacy; (ii) Disclose investigative techniques and procedures; or (iii) Endanger the life or physical safety of law enforcement personnel. (C) Investigatory records under this section include: (i) All documents, records, transcripts, correspondence, and related memoranda and work products concerning examinations and other investigations and related litigation as authorized by law that pertain to or may disclose the possible violations by any person of any provision of any of the statutes or rules administered by the commissioner; and (ii) All written communications from or to any person confidentially complaining or otherwise furnishing information respecting the possible violations, as well as all correspondence and memoranda in connection with the confidential complaints or information; (5) Information contained in or related to examinations, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions or mortgage lenders; (6) (A) Financial records of mortgage bankers, mortgage brokers, mortgage servicers, loan officers, or transitional loan officers, obtained during or as a result of an examination by the State Securities Department. (B) However, when a record under this subchapter is required to be filed with the commissioner as part of an application for license, annual renewal, or otherwise, the record, including financial statements prepared by certified public accountants, shall be public information unless sections of the information are bound separately and are marked "confidential" by the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer upon its submission. (C) Information under subdivision (6)(B) of this section bound separately and marked "confidential" shall be considered nonpublic until ten (10) days after the commissioner has given the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer notice that an order will be entered declaring the material public. (D) If the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer believes the commissioner's order is incorrect, the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer may seek an injunction from the Pulaski County Circuit Court ordering the State Securities Department to hold the information as nonpublic pending a final order from a court of competent jurisdiction if the order of the commissioner is appealed under applicable law; (7) Trade secrets obtained from any person; or (8) Any other records that are required to be closed to the public and are not considered open to public inspection under the Freedom of Information Act of 1967, § 25-19-101 et seq., or under other law.

(1) Information contained in reports, summaries, analyses, letters, or memoranda arising out of, in anticipation of, or in connection with an examination or inspection of the books and records of any person or any other investigation;

(2) Interagency or intra-agency memoranda or letters, including: (A) Generally, records that reflect discussions between or consideration by the commissioner or members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department, or both, of any action taken or proposed to be taken by the commissioner or by any members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department; and (B) Specifically, reports, summaries, analyses, conclusions, or any other work product of the commissioner or of attorneys, accountants, analysts, or other members of the commissioner's staff, prepared in the course of an inspection of the books or records of any person whose affairs are regulated by the commissioner or prepared otherwise in the course of an examination or investigation or related litigation conducted by or on behalf of the commissioner;

(A) Generally, records that reflect discussions between or consideration by the commissioner or members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department, or both, of any action taken or proposed to be taken by the commissioner or by any members of the staff of the State Securities Department or the staff of the Department of Commerce working for the State Securities Department; and

(B) Specifically, reports, summaries, analyses, conclusions, or any other work product of the commissioner or of attorneys, accountants, analysts, or other members of the commissioner's staff, prepared in the course of an inspection of the books or records of any person whose affairs are regulated by the commissioner or prepared otherwise in the course of an examination or investigation or related litigation conducted by or on behalf of the commissioner;

(3) Personnel and medical files and similar files the disclosure of which would constitute a clearly unwarranted invasion of personal privacy, including: (A) Information concerning all employees of the State Securities Department or the Department of Commerce working for the State Securities Department and information concerning persons subject to regulation by the State Securities Department; and (B) Personal information about employees of mortgage brokers, mortgage bankers, mortgage servicers, loan officers, or transitional loan officers reported to the commissioner under the State Securities Department's rules concerning registration of those persons;

(A) Information concerning all employees of the State Securities Department or the Department of Commerce working for the State Securities Department and information concerning persons subject to regulation by the State Securities Department; and

(B) Personal information about employees of mortgage brokers, mortgage bankers, mortgage servicers, loan officers, or transitional loan officers reported to the commissioner under the State Securities Department's rules concerning registration of those persons;

(4) (A) Investigatory records compiled for law enforcement purposes to the extent that production of the records would: (i) Interfere with enforcement proceedings; (ii) Deprive a person of a right to a fair trial or an impartial adjudication; or (iii) Disclose the identity of a confidential source. (B) The commissioner may also withhold investigatory records that would: (i) Constitute an unwarranted invasion of personal privacy; (ii) Disclose investigative techniques and procedures; or (iii) Endanger the life or physical safety of law enforcement personnel. (C) Investigatory records under this section include: (i) All documents, records, transcripts, correspondence, and related memoranda and work products concerning examinations and other investigations and related litigation as authorized by law that pertain to or may disclose the possible violations by any person of any provision of any of the statutes or rules administered by the commissioner; and (ii) All written communications from or to any person confidentially complaining or otherwise furnishing information respecting the possible violations, as well as all correspondence and memoranda in connection with the confidential complaints or information;

(A) Investigatory records compiled for law enforcement purposes to the extent that production of the records would: (i) Interfere with enforcement proceedings; (ii) Deprive a person of a right to a fair trial or an impartial adjudication; or (iii) Disclose the identity of a confidential source.

(i) Interfere with enforcement proceedings;

(ii) Deprive a person of a right to a fair trial or an impartial adjudication; or

(iii) Disclose the identity of a confidential source.

(B) The commissioner may also withhold investigatory records that would: (i) Constitute an unwarranted invasion of personal privacy; (ii) Disclose investigative techniques and procedures; or (iii) Endanger the life or physical safety of law enforcement personnel.

(i) Constitute an unwarranted invasion of personal privacy;

(ii) Disclose investigative techniques and procedures; or

(iii) Endanger the life or physical safety of law enforcement personnel.

(C) Investigatory records under this section include: (i) All documents, records, transcripts, correspondence, and related memoranda and work products concerning examinations and other investigations and related litigation as authorized by law that pertain to or may disclose the possible violations by any person of any provision of any of the statutes or rules administered by the commissioner; and (ii) All written communications from or to any person confidentially complaining or otherwise furnishing information respecting the possible violations, as well as all correspondence and memoranda in connection with the confidential complaints or information;

(i) All documents, records, transcripts, correspondence, and related memoranda and work products concerning examinations and other investigations and related litigation as authorized by law that pertain to or may disclose the possible violations by any person of any provision of any of the statutes or rules administered by the commissioner; and

(ii) All written communications from or to any person confidentially complaining or otherwise furnishing information respecting the possible violations, as well as all correspondence and memoranda in connection with the confidential complaints or information;

(5) Information contained in or related to examinations, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions or mortgage lenders;

(6) (A) Financial records of mortgage bankers, mortgage brokers, mortgage servicers, loan officers, or transitional loan officers, obtained during or as a result of an examination by the State Securities Department. (B) However, when a record under this subchapter is required to be filed with the commissioner as part of an application for license, annual renewal, or otherwise, the record, including financial statements prepared by certified public accountants, shall be public information unless sections of the information are bound separately and are marked "confidential" by the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer upon its submission. (C) Information under subdivision (6)(B) of this section bound separately and marked "confidential" shall be considered nonpublic until ten (10) days after the commissioner has given the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer notice that an order will be entered declaring the material public. (D) If the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer believes the commissioner's order is incorrect, the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer may seek an injunction from the Pulaski County Circuit Court ordering the State Securities Department to hold the information as nonpublic pending a final order from a court of competent jurisdiction if the order of the commissioner is appealed under applicable law;

(A) Financial records of mortgage bankers, mortgage brokers, mortgage servicers, loan officers, or transitional loan officers, obtained during or as a result of an examination by the State Securities Department.

(B) However, when a record under this subchapter is required to be filed with the commissioner as part of an application for license, annual renewal, or otherwise, the record, including financial statements prepared by certified public accountants, shall be public information unless sections of the information are bound separately and are marked "confidential" by the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer upon its submission.

(C) Information under subdivision (6)(B) of this section bound separately and marked "confidential" shall be considered nonpublic until ten (10) days after the commissioner has given the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer notice that an order will be entered declaring the material public.

(D) If the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer believes the commissioner's order is incorrect, the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer may seek an injunction from the Pulaski County Circuit Court ordering the State Securities Department to hold the information as nonpublic pending a final order from a court of competent jurisdiction if the order of the commissioner is appealed under applicable law;

(7) Trade secrets obtained from any person; or

(8) Any other records that are required to be closed to the public and are not considered open to public inspection under the Freedom of Information Act of 1967, § 25-19-101 et seq., or under other law.

(c) This section does not prevent the commissioner from sharing with other state or federal law enforcement authorities, regulatory authorities, or self-regulatory organizations authorized by law any information that the commissioner may have or may obtain in aid of the enforcement of this subchapter or any other state or federal law.

(d) (1) Except as otherwise provided in this subchapter, the requirements of any federal or state law regarding privacy or confidentiality of any information or material provided to an automated licensing system under this subchapter and any privilege arising under federal or state law, including the rules of any federal or state court with respect to the information or material, shall continue to apply to the information or material after the information or material has been disclosed to the automated licensing system. (2) The information or material provided to an automated licensing system under this subchapter may be shared with a state or federal regulatory official with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law.

(1) Except as otherwise provided in this subchapter, the requirements of any federal or state law regarding privacy or confidentiality of any information or material provided to an automated licensing system under this subchapter and any privilege arising under federal or state law, including the rules of any federal or state court with respect to the information or material, shall continue to apply to the information or material after the information or material has been disclosed to the automated licensing system.

(2) The information or material provided to an automated licensing system under this subchapter may be shared with a state or federal regulatory official with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law.

Amended by Act 2019, No. 315,§ 2500, eff. 7/24/2019.

Amended by Act 2019, No. 200,§ 21, eff. 7/24/2019.

Amended by Act 2019, No. 200,§ 20, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 574, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 573, eff. 7/1/2019.

Acts 2003, No. 554, § 1; 2009, No. 731, §§ 23, 24.
Ark. Code Ann. § 23-110-205 — AR Code / Title 23 / Chapter 110 / Subchapter 2 / Section 23-110-205
Hearings
Status: in_force

(a) (1) In the event any franchise holder or person is aggrieved by any action of the Arkansas Racing Commission, he or she shall be entitled to a hearing by the commission. (2) (A) The hearing shall be held at such place in the State of Arkansas and at such time as the commission may designate. (B) Notice shall be served on the parties affected by mailing to those parties by registered United States mail the notice of the time and place that the hearing will be held. (3) In conducting the hearing, the commission shall not be bound by technical rules of evidence. (4) (A) Any of the parties affected by the hearing may be represented by counsel and shall have the right to introduce evidence. (B) In its discretion, the commission may likewise be represented by counsel at the hearing, and the counsel shall participate in the conduct of the hearing for and on behalf of the commission. (b) (1) (A) For purposes of conducting the hearing, the commission shall have the power to administer oaths, issue subpoenas, and compel the attendance and testimony of witnesses. (B) Any person who has been served with a subpoena to appear and testify issued by the commission in the course of an inquiry or hearing conducted under the provisions of this chapter and who refuses or neglects to appear or testify relative to the hearing as commanded in the subpoena shall be guilty of a violation and upon conviction shall be fined not less than fifty dollars ($50.00) nor more than five hundred dollars ($500). (2) In connection with any hearing, the commission or the aggrieved may cause the deposition of witnesses within or without the state to be taken in the manner prescribed by existing statutes for the taking of depositions in this state. (c) All hearings shall be held before at least three (3) members of the commission, and the concurrence of at least three (3) members of the commission shall be necessary for any finding or order. (d) (1) At the conclusion of the hearing, the commission shall make its findings to be the basis for the action taken by the commission. (2) The findings and order shall be subject to review in Pulaski County Circuit Court, from which an appeal may be taken to the Supreme Court. Acts 1957, No. 46, § 19; 1965, No. 176, § 3; A.S.A. 1947, § 84-2745; Acts 2005, No. 1994, § 154.

(a) (1) In the event any franchise holder or person is aggrieved by any action of the Arkansas Racing Commission, he or she shall be entitled to a hearing by the commission. (2) (A) The hearing shall be held at such place in the State of Arkansas and at such time as the commission may designate. (B) Notice shall be served on the parties affected by mailing to those parties by registered United States mail the notice of the time and place that the hearing will be held. (3) In conducting the hearing, the commission shall not be bound by technical rules of evidence. (4) (A) Any of the parties affected by the hearing may be represented by counsel and shall have the right to introduce evidence. (B) In its discretion, the commission may likewise be represented by counsel at the hearing, and the counsel shall participate in the conduct of the hearing for and on behalf of the commission.

(1) In the event any franchise holder or person is aggrieved by any action of the Arkansas Racing Commission, he or she shall be entitled to a hearing by the commission.

(2) (A) The hearing shall be held at such place in the State of Arkansas and at such time as the commission may designate. (B) Notice shall be served on the parties affected by mailing to those parties by registered United States mail the notice of the time and place that the hearing will be held.

(A) The hearing shall be held at such place in the State of Arkansas and at such time as the commission may designate.

(B) Notice shall be served on the parties affected by mailing to those parties by registered United States mail the notice of the time and place that the hearing will be held.

(3) In conducting the hearing, the commission shall not be bound by technical rules of evidence.

(4) (A) Any of the parties affected by the hearing may be represented by counsel and shall have the right to introduce evidence. (B) In its discretion, the commission may likewise be represented by counsel at the hearing, and the counsel shall participate in the conduct of the hearing for and on behalf of the commission.

(A) Any of the parties affected by the hearing may be represented by counsel and shall have the right to introduce evidence.

(B) In its discretion, the commission may likewise be represented by counsel at the hearing, and the counsel shall participate in the conduct of the hearing for and on behalf of the commission.

(b) (1) (A) For purposes of conducting the hearing, the commission shall have the power to administer oaths, issue subpoenas, and compel the attendance and testimony of witnesses. (B) Any person who has been served with a subpoena to appear and testify issued by the commission in the course of an inquiry or hearing conducted under the provisions of this chapter and who refuses or neglects to appear or testify relative to the hearing as commanded in the subpoena shall be guilty of a violation and upon conviction shall be fined not less than fifty dollars ($50.00) nor more than five hundred dollars ($500). (2) In connection with any hearing, the commission or the aggrieved may cause the deposition of witnesses within or without the state to be taken in the manner prescribed by existing statutes for the taking of depositions in this state.

(1) (A) For purposes of conducting the hearing, the commission shall have the power to administer oaths, issue subpoenas, and compel the attendance and testimony of witnesses. (B) Any person who has been served with a subpoena to appear and testify issued by the commission in the course of an inquiry or hearing conducted under the provisions of this chapter and who refuses or neglects to appear or testify relative to the hearing as commanded in the subpoena shall be guilty of a violation and upon conviction shall be fined not less than fifty dollars ($50.00) nor more than five hundred dollars ($500).

(A) For purposes of conducting the hearing, the commission shall have the power to administer oaths, issue subpoenas, and compel the attendance and testimony of witnesses.

(B) Any person who has been served with a subpoena to appear and testify issued by the commission in the course of an inquiry or hearing conducted under the provisions of this chapter and who refuses or neglects to appear or testify relative to the hearing as commanded in the subpoena shall be guilty of a violation and upon conviction shall be fined not less than fifty dollars ($50.00) nor more than five hundred dollars ($500).

(2) In connection with any hearing, the commission or the aggrieved may cause the deposition of witnesses within or without the state to be taken in the manner prescribed by existing statutes for the taking of depositions in this state.

(c) All hearings shall be held before at least three (3) members of the commission, and the concurrence of at least three (3) members of the commission shall be necessary for any finding or order.

(d) (1) At the conclusion of the hearing, the commission shall make its findings to be the basis for the action taken by the commission. (2) The findings and order shall be subject to review in Pulaski County Circuit Court, from which an appeal may be taken to the Supreme Court.

(1) At the conclusion of the hearing, the commission shall make its findings to be the basis for the action taken by the commission.

(2) The findings and order shall be subject to review in Pulaski County Circuit Court, from which an appeal may be taken to the Supreme Court.

Acts 1957, No. 46, § 19; 1965, No. 176, § 3; A.S.A. 1947, § 84-2745; Acts 2005, No. 1994, § 154.
Ark. Code Ann. § 23-42-206 — AR Code / Title 23 / Chapter 42 / Subchapter 2 / Section 23-42-206
Records of Securities Commissioner generally - Interpretive opinions
Status: in_force

(a) (1) A document is filed when it is received by the Securities Commissioner or when the commissioner receives notice from his or her designee that a document was received by the designee. (2) The disposition of any document received by the commissioner shall be in accordance with the Arkansas State Records Management and Archives Act of 1995, § 13-4-101 et seq. [repealed]. (3) A document received by the commissioner's designee may be: (A) Destroyed after the reproduction of the document by photograph, microphotograph, or electronic means of a permanent nature; (B) Transferred to a permanent storage location maintained by the Central Registration Depository with the Financial Industry Regulatory Authority, the Securities Registration Depository with the North American Securities Administrators Association, or such other central depository system as may be determined by the commissioner; or (C) Transferred to the commissioner to be disposed of in the manner of a document received by the commissioner. (b) The commissioner shall keep a register of all notice filings, applications for registration, and registration statements which are, or have ever been, effective under this chapter and all denial, suspension, or revocation orders which have ever been entered under this chapter. The register shall be open for public inspection. (c) The commissioner may rely upon and coordinate with the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Municipal Securities Rulemaking Board, the North American Securities Administrators Association, and any other securities regulatory agencies for the proper maintenance of certain common registrations, records, and other documents maintained by the other regulatory agencies. (d) Upon request, and at reasonable charges which he or she prescribes, the commissioner shall furnish to any person photostatic or other copies, certified under his or her seal of office if requested, of any entry in the register or any document which is a matter of public record. In any proceeding or prosecution under this chapter, any copy so certified is prima facie evidence of the contents of the entry or document certified. (e) The commissioner in his or her discretion may honor requests from interested persons for interpretative opinions. Acts 1959, No. 254, § 25; 1975, No. 844, § 13; 1977, No. 493, §§ 17, 18; 1983, No. 836, § 17; A.S.A. 1947, § 67-1259; Acts 1995, No. 845, §§ 6, 7; 1997, No. 173, § 7; 2009, No. 462, §§ 2, 3.

(a) (1) A document is filed when it is received by the Securities Commissioner or when the commissioner receives notice from his or her designee that a document was received by the designee. (2) The disposition of any document received by the commissioner shall be in accordance with the Arkansas State Records Management and Archives Act of 1995, § 13-4-101 et seq. [repealed]. (3) A document received by the commissioner's designee may be: (A) Destroyed after the reproduction of the document by photograph, microphotograph, or electronic means of a permanent nature; (B) Transferred to a permanent storage location maintained by the Central Registration Depository with the Financial Industry Regulatory Authority, the Securities Registration Depository with the North American Securities Administrators Association, or such other central depository system as may be determined by the commissioner; or (C) Transferred to the commissioner to be disposed of in the manner of a document received by the commissioner.

(1) A document is filed when it is received by the Securities Commissioner or when the commissioner receives notice from his or her designee that a document was received by the designee.

(2) The disposition of any document received by the commissioner shall be in accordance with the Arkansas State Records Management and Archives Act of 1995, § 13-4-101 et seq. [repealed].

(3) A document received by the commissioner's designee may be: (A) Destroyed after the reproduction of the document by photograph, microphotograph, or electronic means of a permanent nature; (B) Transferred to a permanent storage location maintained by the Central Registration Depository with the Financial Industry Regulatory Authority, the Securities Registration Depository with the North American Securities Administrators Association, or such other central depository system as may be determined by the commissioner; or (C) Transferred to the commissioner to be disposed of in the manner of a document received by the commissioner.

(A) Destroyed after the reproduction of the document by photograph, microphotograph, or electronic means of a permanent nature;

(B) Transferred to a permanent storage location maintained by the Central Registration Depository with the Financial Industry Regulatory Authority, the Securities Registration Depository with the North American Securities Administrators Association, or such other central depository system as may be determined by the commissioner; or

(C) Transferred to the commissioner to be disposed of in the manner of a document received by the commissioner.

(b) The commissioner shall keep a register of all notice filings, applications for registration, and registration statements which are, or have ever been, effective under this chapter and all denial, suspension, or revocation orders which have ever been entered under this chapter. The register shall be open for public inspection.

(c) The commissioner may rely upon and coordinate with the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Municipal Securities Rulemaking Board, the North American Securities Administrators Association, and any other securities regulatory agencies for the proper maintenance of certain common registrations, records, and other documents maintained by the other regulatory agencies.

(d) Upon request, and at reasonable charges which he or she prescribes, the commissioner shall furnish to any person photostatic or other copies, certified under his or her seal of office if requested, of any entry in the register or any document which is a matter of public record. In any proceeding or prosecution under this chapter, any copy so certified is prima facie evidence of the contents of the entry or document certified.

(e) The commissioner in his or her discretion may honor requests from interested persons for interpretative opinions.

Acts 1959, No. 254, § 25; 1975, No. 844, § 13; 1977, No. 493, §§ 17, 18; 1983, No. 836, § 17; A.S.A. 1947, § 67-1259; Acts 1995, No. 845, §§ 6, 7; 1997, No. 173, § 7; 2009, No. 462, §§ 2, 3.
Ark. Code Ann. § 23-97-318 — AR Code / Title 23 / Chapter 97 / Subchapter 3 / Section 23-97-318
Incontestability period
Status: in_force

(a) An insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim if: (1) The long-term care insurance policy or certificate has been in force for less than six (6) months and the insurer relied upon a material misrepresentation in providing coverage; or (2) The long-term care insurance policy or certificate has been in force for at least six (6) months but less than two (2) years and the insurer relied upon a material misrepresentation in providing coverage that pertains to the condition for which benefits are sought. (b) A policy or certificate that has been in force for two (2) years or more may be contested only by showing that the insured knowingly and intentionally misrepresented relevant facts relating to the insured's health. (c) (1) No long-term care insurance policy or certificate may be field issued based on medical or health status. (2) As used in this section, "field issued" means issued by an agent or a third-party administrator under the underwriting authority granted to the agent or third-party administrator by an insurer. (d) If an insurer has paid benefits under the long-term care insurance policy or certificate, the benefit payments may not be recovered by the insurer if the policy or certificate is rescinded. (e) (1) Except as provided in subdivision (e)(2) of this section, this section shall apply to all life insurance policies that accelerate benefits for long-term care. (2) (A) In the event of the death of the insured, this section shall not apply to the remaining death benefit of a life insurance policy that accelerates benefits for long-term care. (B) The remaining death benefit shall be governed by § 23-81-105 . Acts 2005, No. 1697, § 31; 2007, No. 827, § 189.

(a) An insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim if: (1) The long-term care insurance policy or certificate has been in force for less than six (6) months and the insurer relied upon a material misrepresentation in providing coverage; or (2) The long-term care insurance policy or certificate has been in force for at least six (6) months but less than two (2) years and the insurer relied upon a material misrepresentation in providing coverage that pertains to the condition for which benefits are sought.

(1) The long-term care insurance policy or certificate has been in force for less than six (6) months and the insurer relied upon a material misrepresentation in providing coverage; or

(2) The long-term care insurance policy or certificate has been in force for at least six (6) months but less than two (2) years and the insurer relied upon a material misrepresentation in providing coverage that pertains to the condition for which benefits are sought.

(b) A policy or certificate that has been in force for two (2) years or more may be contested only by showing that the insured knowingly and intentionally misrepresented relevant facts relating to the insured's health.

(c) (1) No long-term care insurance policy or certificate may be field issued based on medical or health status. (2) As used in this section, "field issued" means issued by an agent or a third-party administrator under the underwriting authority granted to the agent or third-party administrator by an insurer.

(1) No long-term care insurance policy or certificate may be field issued based on medical or health status.

(2) As used in this section, "field issued" means issued by an agent or a third-party administrator under the underwriting authority granted to the agent or third-party administrator by an insurer.

(d) If an insurer has paid benefits under the long-term care insurance policy or certificate, the benefit payments may not be recovered by the insurer if the policy or certificate is rescinded.

(e) (1) Except as provided in subdivision (e)(2) of this section, this section shall apply to all life insurance policies that accelerate benefits for long-term care. (2) (A) In the event of the death of the insured, this section shall not apply to the remaining death benefit of a life insurance policy that accelerates benefits for long-term care. (B) The remaining death benefit shall be governed by § 23-81-105 .

(1) Except as provided in subdivision (e)(2) of this section, this section shall apply to all life insurance policies that accelerate benefits for long-term care.

(2) (A) In the event of the death of the insured, this section shall not apply to the remaining death benefit of a life insurance policy that accelerates benefits for long-term care. (B) The remaining death benefit shall be governed by § 23-81-105 .

(A) In the event of the death of the insured, this section shall not apply to the remaining death benefit of a life insurance policy that accelerates benefits for long-term care.

(B) The remaining death benefit shall be governed by § 23-81-105 .

Acts 2005, No. 1697, § 31; 2007, No. 827, § 189.
Ark. Code Ann. § 23-115-205 — AR Code / Title 23 / Chapter 115 / Subchapter 2 / Section 23-115-205
Office of the Arkansas Lottery powers
Status: in_force

(a) The Office of the Arkansas Lottery has all powers necessary or convenient to its usefulness in carrying out this chapter that are not in conflict with the Arkansas Constitution or the United States Constitution, including without limitation the following powers: (1) To adopt and alter a seal; (2) To adopt, amend, and repeal rules for the regulation of its affairs and the conduct of its business, to prescribe the duties of officers and employees of the office, and to perform other matters as the office determines; (3) To bring suits to enforce demands of the state under this chapter; (4) To procure or to provide insurance; (5) To hold copyrights, trademarks, and service marks and to enforce the office's rights with respect to those copyrights, trademarks, and service marks; (6) To initiate, supervise, and administer the operation of lotteries in accordance with this chapter and rules adopted under this chapter; (7) To enter into written agreements with one (1) or more other states or sovereigns for the operation, participation in marketing, and promotion of multistate or multisovereign games; (8) To conduct market research as necessary or appropriate; (9) To acquire or lease real property and make improvements to the real property and acquire by lease or by purchase personal property, including without limitation: (A) Computers; (B) Mechanical, electronic, and online equipment and terminals; (C) Intangible property, including without limitation computer programs, computer systems, and computer software; and (D) Broadcast equipment; (10) To administer oaths, take depositions, issue subpoenas, and compel the attendance of witnesses and the production of books, papers, documents, and other evidence relative to any investigation or proceeding conducted by the office; (11) To employ an internal auditor to perform the duties and responsibilities required under § 23-115-212 ; (12) To select and contract with vendors; (13) To select and license retailers; (14) To enter into contracts or agreements with state or local law enforcement agencies for the performance of law enforcement, background investigations, and security checks; (15) To conduct background investigations and, if considered necessary by the Director of the Office of the Arkansas Lottery, credit investigations on each potential vendor and retailer; (16) To supervise ticket or share validation and lottery drawings; (17) To inspect at times determined solely by the office the facilities of a vendor or a retailer to determine: (A) The integrity of the vendor's product or the operations of the retailer; and (B) Whether the vendor or the retailer is in compliance with its contract or license; (18) To report any suspected violation of this chapter to the appropriate prosecuting attorney or the Attorney General and to any law enforcement agencies having jurisdiction over the violation; (19) Upon request, to provide assistance to the Chief Fiscal Officer of the State, the Legislative Auditor, the appropriate prosecuting attorney, the Attorney General, or a law enforcement agency investigating a violation of this chapter; (20) To enter into contracts of terms and conditions that the office determines; (21) To establish and maintain banking relationships associated with the maintenance and investment of lottery proceeds, including without limitation the establishment of checking and savings accounts and trust funds; (22) (A) To advertise and promote lotteries and scholarships and grants funded by net proceeds. (B) The office shall seek the advice of the Division of Higher Education when advertising to promote scholarships and grants funded by net proceeds; (23) To act as a retailer and to establish and operate a sales facility to conduct promotions that involve the sale of tickets or shares and any related merchandise; (24) (A) To contract with one (1) or more independent testing laboratories to scientifically test and technically evaluate lottery games, lottery terminals, and lottery operating systems. (B) An independent testing laboratory shall: (i) Have a national reputation that is demonstrably competent; and (ii) Be qualified to scientifically test and evaluate all components of a lottery game, lottery terminal, or lottery operating system. (C) An independent testing laboratory shall not be owned or controlled by a vendor or a retailer; (25) To withhold state and federal income taxes as required by law; and (26) To adopt and amend rules necessary to carry out and implement the office's powers and duties, organize and operate the office, regulate the conduct of lotteries in general, and any other matters necessary or desirable for the efficient and effective operation of lotteries for the convenience of the public. (b) The powers enumerated in subsection (a) of this section: (1) Are in addition to those powers of the office enumerated elsewhere in this chapter; and (2) Do not limit or restrict any other powers of the office. Amended by Act 2019, No. 910,§ 2355, eff. 7/1/2019. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 28; 2010, No. 265, § 24; 2010, No. 294, § 24; 2011, No. 207, § 21.

(a) The Office of the Arkansas Lottery has all powers necessary or convenient to its usefulness in carrying out this chapter that are not in conflict with the Arkansas Constitution or the United States Constitution, including without limitation the following powers: (1) To adopt and alter a seal; (2) To adopt, amend, and repeal rules for the regulation of its affairs and the conduct of its business, to prescribe the duties of officers and employees of the office, and to perform other matters as the office determines; (3) To bring suits to enforce demands of the state under this chapter; (4) To procure or to provide insurance; (5) To hold copyrights, trademarks, and service marks and to enforce the office's rights with respect to those copyrights, trademarks, and service marks; (6) To initiate, supervise, and administer the operation of lotteries in accordance with this chapter and rules adopted under this chapter; (7) To enter into written agreements with one (1) or more other states or sovereigns for the operation, participation in marketing, and promotion of multistate or multisovereign games; (8) To conduct market research as necessary or appropriate; (9) To acquire or lease real property and make improvements to the real property and acquire by lease or by purchase personal property, including without limitation: (A) Computers; (B) Mechanical, electronic, and online equipment and terminals; (C) Intangible property, including without limitation computer programs, computer systems, and computer software; and (D) Broadcast equipment; (10) To administer oaths, take depositions, issue subpoenas, and compel the attendance of witnesses and the production of books, papers, documents, and other evidence relative to any investigation or proceeding conducted by the office; (11) To employ an internal auditor to perform the duties and responsibilities required under § 23-115-212 ; (12) To select and contract with vendors; (13) To select and license retailers; (14) To enter into contracts or agreements with state or local law enforcement agencies for the performance of law enforcement, background investigations, and security checks; (15) To conduct background investigations and, if considered necessary by the Director of the Office of the Arkansas Lottery, credit investigations on each potential vendor and retailer; (16) To supervise ticket or share validation and lottery drawings; (17) To inspect at times determined solely by the office the facilities of a vendor or a retailer to determine: (A) The integrity of the vendor's product or the operations of the retailer; and (B) Whether the vendor or the retailer is in compliance with its contract or license; (18) To report any suspected violation of this chapter to the appropriate prosecuting attorney or the Attorney General and to any law enforcement agencies having jurisdiction over the violation; (19) Upon request, to provide assistance to the Chief Fiscal Officer of the State, the Legislative Auditor, the appropriate prosecuting attorney, the Attorney General, or a law enforcement agency investigating a violation of this chapter; (20) To enter into contracts of terms and conditions that the office determines; (21) To establish and maintain banking relationships associated with the maintenance and investment of lottery proceeds, including without limitation the establishment of checking and savings accounts and trust funds; (22) (A) To advertise and promote lotteries and scholarships and grants funded by net proceeds. (B) The office shall seek the advice of the Division of Higher Education when advertising to promote scholarships and grants funded by net proceeds; (23) To act as a retailer and to establish and operate a sales facility to conduct promotions that involve the sale of tickets or shares and any related merchandise; (24) (A) To contract with one (1) or more independent testing laboratories to scientifically test and technically evaluate lottery games, lottery terminals, and lottery operating systems. (B) An independent testing laboratory shall: (i) Have a national reputation that is demonstrably competent; and (ii) Be qualified to scientifically test and evaluate all components of a lottery game, lottery terminal, or lottery operating system. (C) An independent testing laboratory shall not be owned or controlled by a vendor or a retailer; (25) To withhold state and federal income taxes as required by law; and (26) To adopt and amend rules necessary to carry out and implement the office's powers and duties, organize and operate the office, regulate the conduct of lotteries in general, and any other matters necessary or desirable for the efficient and effective operation of lotteries for the convenience of the public.

(1) To adopt and alter a seal;

(2) To adopt, amend, and repeal rules for the regulation of its affairs and the conduct of its business, to prescribe the duties of officers and employees of the office, and to perform other matters as the office determines;

(3) To bring suits to enforce demands of the state under this chapter;

(4) To procure or to provide insurance;

(5) To hold copyrights, trademarks, and service marks and to enforce the office's rights with respect to those copyrights, trademarks, and service marks;

(6) To initiate, supervise, and administer the operation of lotteries in accordance with this chapter and rules adopted under this chapter;

(7) To enter into written agreements with one (1) or more other states or sovereigns for the operation, participation in marketing, and promotion of multistate or multisovereign games;

(8) To conduct market research as necessary or appropriate;

(9) To acquire or lease real property and make improvements to the real property and acquire by lease or by purchase personal property, including without limitation: (A) Computers; (B) Mechanical, electronic, and online equipment and terminals; (C) Intangible property, including without limitation computer programs, computer systems, and computer software; and (D) Broadcast equipment;

(A) Computers;

(B) Mechanical, electronic, and online equipment and terminals;

(C) Intangible property, including without limitation computer programs, computer systems, and computer software; and

(D) Broadcast equipment;

(10) To administer oaths, take depositions, issue subpoenas, and compel the attendance of witnesses and the production of books, papers, documents, and other evidence relative to any investigation or proceeding conducted by the office;

(11) To employ an internal auditor to perform the duties and responsibilities required under § 23-115-212 ;

(12) To select and contract with vendors;

(13) To select and license retailers;

(14) To enter into contracts or agreements with state or local law enforcement agencies for the performance of law enforcement, background investigations, and security checks;

(15) To conduct background investigations and, if considered necessary by the Director of the Office of the Arkansas Lottery, credit investigations on each potential vendor and retailer;

(16) To supervise ticket or share validation and lottery drawings;

(17) To inspect at times determined solely by the office the facilities of a vendor or a retailer to determine: (A) The integrity of the vendor's product or the operations of the retailer; and (B) Whether the vendor or the retailer is in compliance with its contract or license;

(A) The integrity of the vendor's product or the operations of the retailer; and

(B) Whether the vendor or the retailer is in compliance with its contract or license;

(18) To report any suspected violation of this chapter to the appropriate prosecuting attorney or the Attorney General and to any law enforcement agencies having jurisdiction over the violation;

(19) Upon request, to provide assistance to the Chief Fiscal Officer of the State, the Legislative Auditor, the appropriate prosecuting attorney, the Attorney General, or a law enforcement agency investigating a violation of this chapter;

(20) To enter into contracts of terms and conditions that the office determines;

(21) To establish and maintain banking relationships associated with the maintenance and investment of lottery proceeds, including without limitation the establishment of checking and savings accounts and trust funds;

(22) (A) To advertise and promote lotteries and scholarships and grants funded by net proceeds. (B) The office shall seek the advice of the Division of Higher Education when advertising to promote scholarships and grants funded by net proceeds;

(A) To advertise and promote lotteries and scholarships and grants funded by net proceeds.

(B) The office shall seek the advice of the Division of Higher Education when advertising to promote scholarships and grants funded by net proceeds;

(23) To act as a retailer and to establish and operate a sales facility to conduct promotions that involve the sale of tickets or shares and any related merchandise;

(24) (A) To contract with one (1) or more independent testing laboratories to scientifically test and technically evaluate lottery games, lottery terminals, and lottery operating systems. (B) An independent testing laboratory shall: (i) Have a national reputation that is demonstrably competent; and (ii) Be qualified to scientifically test and evaluate all components of a lottery game, lottery terminal, or lottery operating system. (C) An independent testing laboratory shall not be owned or controlled by a vendor or a retailer;

(A) To contract with one (1) or more independent testing laboratories to scientifically test and technically evaluate lottery games, lottery terminals, and lottery operating systems.

(B) An independent testing laboratory shall: (i) Have a national reputation that is demonstrably competent; and (ii) Be qualified to scientifically test and evaluate all components of a lottery game, lottery terminal, or lottery operating system.

(i) Have a national reputation that is demonstrably competent; and

(ii) Be qualified to scientifically test and evaluate all components of a lottery game, lottery terminal, or lottery operating system.

(C) An independent testing laboratory shall not be owned or controlled by a vendor or a retailer;

(25) To withhold state and federal income taxes as required by law; and

(26) To adopt and amend rules necessary to carry out and implement the office's powers and duties, organize and operate the office, regulate the conduct of lotteries in general, and any other matters necessary or desirable for the efficient and effective operation of lotteries for the convenience of the public.

(b) The powers enumerated in subsection (a) of this section: (1) Are in addition to those powers of the office enumerated elsewhere in this chapter; and (2) Do not limit or restrict any other powers of the office.

(1) Are in addition to those powers of the office enumerated elsewhere in this chapter; and

(2) Do not limit or restrict any other powers of the office.

Amended by Act 2019, No. 910,§ 2355, eff. 7/1/2019.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 28; 2010, No. 265, § 24; 2010, No. 294, § 24; 2011, No. 207, § 21.
Ark. Code Ann. § 23-42-111 — AR Code / Title 23 / Chapter 42 / Subchapter 1 / Section 23-42-111
Quarterly reports
Status: in_force

(a) The State Securities Department shall provide to the Legislative Council, or to the Joint Budget Committee if the General Assembly is in session, on a quarterly basis a report of all funds received or any external fund transactions recognized or required through court orders or settlement agreements. (b) The report required under subsection (a) of this section shall include: (1) The case name of the court order or settlement agreement; (2) The amount of funds received or transaction recognized or required by the department for each court order or settlement agreement; (3) (A) A plan for disbursement of the received funds. (B) If funds received from a court order or settlement agreement are expended for any purpose, including investor education and enforcement activities, the report shall itemize specific activities subject to the exclusions provided in § 25-1-403(1)(B) ; (4) An itemization of the specific investor education and enforcement activities funded for the department; (5) An explanation of whether the funds received or transactions recognized or required from a court order or settlement agreement are directed to a specific entity, and if so, the department shall provide a summary of input regarding the drafting of the court order or settlement agreement; (6) A report of the rationale for disbursing funds to a specific entity if the department receives funds from a court order or settlement agreement that does not require disbursement of funds to a specific entity; and (7) A report of current balances of all unappropriated fund holdings the department received from a court order or settlement agreement. (c) The department shall provide the reports required under this section no later than the fifteenth day of the month immediately following the end of each quarter. Amended by Act 2023, No. 281,§ 6, eff. 7/1/2023.

(a) The State Securities Department shall provide to the Legislative Council, or to the Joint Budget Committee if the General Assembly is in session, on a quarterly basis a report of all funds received or any external fund transactions recognized or required through court orders or settlement agreements.

(b) The report required under subsection (a) of this section shall include: (1) The case name of the court order or settlement agreement; (2) The amount of funds received or transaction recognized or required by the department for each court order or settlement agreement; (3) (A) A plan for disbursement of the received funds. (B) If funds received from a court order or settlement agreement are expended for any purpose, including investor education and enforcement activities, the report shall itemize specific activities subject to the exclusions provided in § 25-1-403(1)(B) ; (4) An itemization of the specific investor education and enforcement activities funded for the department; (5) An explanation of whether the funds received or transactions recognized or required from a court order or settlement agreement are directed to a specific entity, and if so, the department shall provide a summary of input regarding the drafting of the court order or settlement agreement; (6) A report of the rationale for disbursing funds to a specific entity if the department receives funds from a court order or settlement agreement that does not require disbursement of funds to a specific entity; and (7) A report of current balances of all unappropriated fund holdings the department received from a court order or settlement agreement.

(1) The case name of the court order or settlement agreement;

(2) The amount of funds received or transaction recognized or required by the department for each court order or settlement agreement;

(3) (A) A plan for disbursement of the received funds. (B) If funds received from a court order or settlement agreement are expended for any purpose, including investor education and enforcement activities, the report shall itemize specific activities subject to the exclusions provided in § 25-1-403(1)(B) ;

(A) A plan for disbursement of the received funds.

(B) If funds received from a court order or settlement agreement are expended for any purpose, including investor education and enforcement activities, the report shall itemize specific activities subject to the exclusions provided in § 25-1-403(1)(B) ;

(4) An itemization of the specific investor education and enforcement activities funded for the department;

(5) An explanation of whether the funds received or transactions recognized or required from a court order or settlement agreement are directed to a specific entity, and if so, the department shall provide a summary of input regarding the drafting of the court order or settlement agreement;

(6) A report of the rationale for disbursing funds to a specific entity if the department receives funds from a court order or settlement agreement that does not require disbursement of funds to a specific entity; and

(7) A report of current balances of all unappropriated fund holdings the department received from a court order or settlement agreement.

(c) The department shall provide the reports required under this section no later than the fifteenth day of the month immediately following the end of each quarter.

Amended by Act 2023, No. 281,§ 6, eff. 7/1/2023.
Ark. Code Ann. § 23-40-119 — AR Code / Title 23 / Chapter 40 / Section 23-40-119
Annual report and fee
Status: in_force

(a) Each organization shall file an annual report and an annual report fee with the Insurance Commissioner on or before March 15 of each year in such form as the commissioner may require, showing: (1) The names or contract numbers, or both, of all persons with whom contracts for prepaid funeral benefits have been made before January 1 of that year that had not been fully discharged on January 1; (2) The date of contract; (3) If the prepaid contract is funded by cash or trust, the: (A) Name of the trustee holding the trust fund; and (B) Amount in the trust fund under each contract on the preceding December 31; and (4) If the prepaid contract is funded by an insurance policy or an annuity, the: (A) Information required under subdivisions (a)(1) and (2) of this section; (B) Name of the insurance company or third-party administrator holding the insurance policy or annuity; (C) Insurance policy number; (D) Date the insurance policy or annuity was issued; and (E) Amount of the insurance policy or annuity. (b) If any officer of any organization fails or refuses to file an annual report or to cause it to be filed within thirty (30) days after he or she has been notified by the commissioner that the report is due and has not been received, then, upon a finding of such failure by a court of competent jurisdiction, he or she shall be guilty of a violation. (c) (1) Effective on and after March 15, 1997, the annual report fee shall be based on the total amount of aggregate contracts for prepaid funeral benefits outstanding and unfulfilled as of December 31 of each year and shall be payable at the time the annual report is filed. (2) The fee shall be based on the following schedule and shall be payable to the State Insurance Department Prepaid Trust Fund: AGGREGATE AMOUNT OF OUTSTANDING PREPAID FUNERAL BENEFITS CONTRACTS IN ARKANSAS ANNUAL FEE DUE STATE OF ARKANSAS Up to $250,000 $200.00 Over $250,001 to $500,000 $250.00 $500,001 to $1,000,000 $500.00 $1,000,001 to $2,500,000 $1,000.00 $2,500,001 to $5,000,000 $2,000.00 $5,000,001 to $10,000,000 $3,000.00 $10,000,001 to $20,000,000 $4,000.00 $20,000,001 to $40,000,000 $5,000.00 Over $40,000,001 $6,000.00 (d) (1) (A) (i) (a) Effective for all prepaid funeral benefits contracts executed on and after April 1, 1997, each licensee selling a prepaid funeral benefits contract shall remit to the State Insurance Department a one-time, per-contract fee of not less than five dollars ($5.00) for each prepaid funeral benefits contract, including any amendments thereto, entered into by the licensee, whether cash or trust funded or funded by an insurance policy or annuity contract, unless the per-contract fees are otherwise eliminated or suspended by the commissioner pursuant to a rule. (b) However, the per-contract fees once eliminated or suspended by rule of the commissioner may be reinstated by subsequent rule of the commissioner adopted upon a public hearing at a later date upon the commissioner's determination that these fees are essential and necessary to the operation of the Division of Prepaid Funeral Benefits of the State Insurance Department. (ii) On and after July 1, 2001, the commissioner shall then transfer from each per-contract fee remitted to the department, into the Prepaid Funeral Contracts Recovery Program Fund pursuant to this act a portion of the fee in an amount to be determined by rules of the commissioner and thereafter to be administered by the commissioner under this subchapter. (B) The per-contract fees shall be remitted annually to the department for each month of the calendar year with the annual report form as prescribed by the commissioner. (2) (A) (i) On and after July 1, 2001, the commissioner may by rule eliminate, reduce, suspend, or increase the per-contract fee or the portion of the per-contract fee allotted to the Prepaid Funeral Contracts Recovery Program Fund. (ii) The per-contract fee may be charged to the purchaser of the contract. (B) Any fee so charged and collected shall not be included in the term "contract proceeds" as defined in § 23-40-103(6) and shall not be subject to the deposit requirements of § 23-40-114(a) . (e) (1) Absent the commissioner's approval of an extension for good cause shown, licensees failing to timely report and pay any administrative and financial regulations fees to the State Insurance Department Prepaid Trust Fund may be subject to a penalty of up to one hundred dollars ($100) per day for each day of delinquency, payable to the State Insurance Department Prepaid Trust Fund. (2) The commissioner shall deposit all administrative and financial regulation fees and any penalties assessed under this section directly into the fund as special revenues. (f) (1) Notwithstanding the provisions of § 23-40-107 , if there are any unused funds from fees collected from organizations under subsections (c) and (d) of this section not disbursed for personal services, operating expenses, maintenance and operations, and support and improvements for the Division of Prepaid Funeral Benefits, the excess funds, if any, may be transferred to the Prepaid Funeral Contracts Recovery Program Fund to provide reparations to purchasers of prepaid funeral contracts who have purchased cash-funded, insurance-funded, or annuity-funded prepaid funeral contracts from organizations that have been: (A) Declared insolvent by a state or federal court of competent jurisdiction; or (B) Determined by either the commissioner or a state or federal court of competent jurisdiction to have fund account deficiencies. (2) Purchasers of prepaid funeral contracts requesting any discretionary relief from the Prepaid Funeral Contracts Recovery Program Fund after July 1, 2001, may include the contract holder or his or her surviving family representative or such other person as described in rules of the department. (3) The commissioner may by rule describe the procedures, claim forms, qualifications, and process of filing a claim for aggrieved purchasers desiring to make a claim for reparations from any excess funds. (4) No purchaser is provided in this section with any administrative right or legal or equitable right to any funds collected from fees collected under this section to satisfy any judgment or economic loss of the purchaser from a prepaid funeral organization, except to the extent that the commissioner, in his or her discretion, has set aside funds to provide discretionary relief to purchasers of prepaid funeral contracts from insolvent prepaid funeral organizations or those organizations with trust fund account shortages, and subject to limits of the Prepaid Funeral Contracts Recovery Program Fund and the claimant's actual contract payments made, excluding additional damages or interest or other equitable relief, or noneconomic damages. Amended by Act 2023, No. 345,§ 5, eff. 8/1/2023. Amended by Act 2023, No. 345,§ 4, eff. 8/1/2023. Amended by Act 2023, No. 345,§ 3, eff. 8/1/2023. Amended by Act 2019, No. 315,§ 2509, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2508, eff. 7/24/2019. Amended by Act 2017, No. 283,§ 3, eff. 8/1/2017. Acts 1985, No. 156, § 11; A.S.A. 1947, § 67-1723; Acts 1995, No. 852, § 11; 1997, No. 372, §§ 8, 9; 1999, No. 1249, § 1; 2001, No. 1043, §§ 5, 6; 2005, No. 1994, § 152.

(a) Each organization shall file an annual report and an annual report fee with the Insurance Commissioner on or before March 15 of each year in such form as the commissioner may require, showing: (1) The names or contract numbers, or both, of all persons with whom contracts for prepaid funeral benefits have been made before January 1 of that year that had not been fully discharged on January 1; (2) The date of contract; (3) If the prepaid contract is funded by cash or trust, the: (A) Name of the trustee holding the trust fund; and (B) Amount in the trust fund under each contract on the preceding December 31; and (4) If the prepaid contract is funded by an insurance policy or an annuity, the: (A) Information required under subdivisions (a)(1) and (2) of this section; (B) Name of the insurance company or third-party administrator holding the insurance policy or annuity; (C) Insurance policy number; (D) Date the insurance policy or annuity was issued; and (E) Amount of the insurance policy or annuity.

(1) The names or contract numbers, or both, of all persons with whom contracts for prepaid funeral benefits have been made before January 1 of that year that had not been fully discharged on January 1;

(2) The date of contract;

(3) If the prepaid contract is funded by cash or trust, the: (A) Name of the trustee holding the trust fund; and (B) Amount in the trust fund under each contract on the preceding December 31; and

(A) Name of the trustee holding the trust fund; and

(B) Amount in the trust fund under each contract on the preceding December 31; and

(4) If the prepaid contract is funded by an insurance policy or an annuity, the: (A) Information required under subdivisions (a)(1) and (2) of this section; (B) Name of the insurance company or third-party administrator holding the insurance policy or annuity; (C) Insurance policy number; (D) Date the insurance policy or annuity was issued; and (E) Amount of the insurance policy or annuity.

(A) Information required under subdivisions (a)(1) and (2) of this section;

(B) Name of the insurance company or third-party administrator holding the insurance policy or annuity;

(C) Insurance policy number;

(D) Date the insurance policy or annuity was issued; and

(E) Amount of the insurance policy or annuity.

(b) If any officer of any organization fails or refuses to file an annual report or to cause it to be filed within thirty (30) days after he or she has been notified by the commissioner that the report is due and has not been received, then, upon a finding of such failure by a court of competent jurisdiction, he or she shall be guilty of a violation.

(c) (1) Effective on and after March 15, 1997, the annual report fee shall be based on the total amount of aggregate contracts for prepaid funeral benefits outstanding and unfulfilled as of December 31 of each year and shall be payable at the time the annual report is filed. (2) The fee shall be based on the following schedule and shall be payable to the State Insurance Department Prepaid Trust Fund: AGGREGATE AMOUNT OF OUTSTANDING PREPAID FUNERAL BENEFITS CONTRACTS IN ARKANSAS ANNUAL FEE DUE STATE OF ARKANSAS Up to $250,000 $200.00 Over $250,001 to $500,000 $250.00 $500,001 to $1,000,000 $500.00 $1,000,001 to $2,500,000 $1,000.00 $2,500,001 to $5,000,000 $2,000.00 $5,000,001 to $10,000,000 $3,000.00 $10,000,001 to $20,000,000 $4,000.00 $20,000,001 to $40,000,000 $5,000.00 Over $40,000,001 $6,000.00

(1) Effective on and after March 15, 1997, the annual report fee shall be based on the total amount of aggregate contracts for prepaid funeral benefits outstanding and unfulfilled as of December 31 of each year and shall be payable at the time the annual report is filed.

(2) The fee shall be based on the following schedule and shall be payable to the State Insurance Department Prepaid Trust Fund: AGGREGATE AMOUNT OF OUTSTANDING PREPAID FUNERAL BENEFITS CONTRACTS IN ARKANSAS ANNUAL FEE DUE STATE OF ARKANSAS Up to $250,000 $200.00 Over $250,001 to $500,000 $250.00 $500,001 to $1,000,000 $500.00 $1,000,001 to $2,500,000 $1,000.00 $2,500,001 to $5,000,000 $2,000.00 $5,000,001 to $10,000,000 $3,000.00 $10,000,001 to $20,000,000 $4,000.00 $20,000,001 to $40,000,000 $5,000.00 Over $40,000,001 $6,000.00

AGGREGATE AMOUNT OF OUTSTANDING PREPAID FUNERAL BENEFITS CONTRACTS IN ARKANSAS ANNUAL FEE DUE STATE OF ARKANSAS Up to $250,000 $200.00 Over $250,001 to $500,000 $250.00 $500,001 to $1,000,000 $500.00 $1,000,001 to $2,500,000 $1,000.00 $2,500,001 to $5,000,000 $2,000.00 $5,000,001 to $10,000,000 $3,000.00 $10,000,001 to $20,000,000 $4,000.00 $20,000,001 to $40,000,000 $5,000.00 Over $40,000,001 $6,000.00

AGGREGATE AMOUNT OF OUTSTANDING PREPAID FUNERAL BENEFITS CONTRACTS IN ARKANSAS

ANNUAL FEE DUE STATE OF ARKANSAS

Up to $250,000

$200.00

Over $250,001 to $500,000

$250.00

$500,001 to $1,000,000

$500.00

$1,000,001 to $2,500,000

$1,000.00

$2,500,001 to $5,000,000

$2,000.00

$5,000,001 to $10,000,000

$3,000.00

$10,000,001 to $20,000,000

$4,000.00

$20,000,001 to $40,000,000

$5,000.00

Over $40,000,001

$6,000.00

(d) (1) (A) (i) (a) Effective for all prepaid funeral benefits contracts executed on and after April 1, 1997, each licensee selling a prepaid funeral benefits contract shall remit to the State Insurance Department a one-time, per-contract fee of not less than five dollars ($5.00) for each prepaid funeral benefits contract, including any amendments thereto, entered into by the licensee, whether cash or trust funded or funded by an insurance policy or annuity contract, unless the per-contract fees are otherwise eliminated or suspended by the commissioner pursuant to a rule. (b) However, the per-contract fees once eliminated or suspended by rule of the commissioner may be reinstated by subsequent rule of the commissioner adopted upon a public hearing at a later date upon the commissioner's determination that these fees are essential and necessary to the operation of the Division of Prepaid Funeral Benefits of the State Insurance Department. (ii) On and after July 1, 2001, the commissioner shall then transfer from each per-contract fee remitted to the department, into the Prepaid Funeral Contracts Recovery Program Fund pursuant to this act a portion of the fee in an amount to be determined by rules of the commissioner and thereafter to be administered by the commissioner under this subchapter. (B) The per-contract fees shall be remitted annually to the department for each month of the calendar year with the annual report form as prescribed by the commissioner. (2) (A) (i) On and after July 1, 2001, the commissioner may by rule eliminate, reduce, suspend, or increase the per-contract fee or the portion of the per-contract fee allotted to the Prepaid Funeral Contracts Recovery Program Fund. (ii) The per-contract fee may be charged to the purchaser of the contract. (B) Any fee so charged and collected shall not be included in the term "contract proceeds" as defined in § 23-40-103(6) and shall not be subject to the deposit requirements of § 23-40-114(a) .

(1) (A) (i) (a) Effective for all prepaid funeral benefits contracts executed on and after April 1, 1997, each licensee selling a prepaid funeral benefits contract shall remit to the State Insurance Department a one-time, per-contract fee of not less than five dollars ($5.00) for each prepaid funeral benefits contract, including any amendments thereto, entered into by the licensee, whether cash or trust funded or funded by an insurance policy or annuity contract, unless the per-contract fees are otherwise eliminated or suspended by the commissioner pursuant to a rule. (b) However, the per-contract fees once eliminated or suspended by rule of the commissioner may be reinstated by subsequent rule of the commissioner adopted upon a public hearing at a later date upon the commissioner's determination that these fees are essential and necessary to the operation of the Division of Prepaid Funeral Benefits of the State Insurance Department. (ii) On and after July 1, 2001, the commissioner shall then transfer from each per-contract fee remitted to the department, into the Prepaid Funeral Contracts Recovery Program Fund pursuant to this act a portion of the fee in an amount to be determined by rules of the commissioner and thereafter to be administered by the commissioner under this subchapter. (B) The per-contract fees shall be remitted annually to the department for each month of the calendar year with the annual report form as prescribed by the commissioner.

(A) (i) (a) Effective for all prepaid funeral benefits contracts executed on and after April 1, 1997, each licensee selling a prepaid funeral benefits contract shall remit to the State Insurance Department a one-time, per-contract fee of not less than five dollars ($5.00) for each prepaid funeral benefits contract, including any amendments thereto, entered into by the licensee, whether cash or trust funded or funded by an insurance policy or annuity contract, unless the per-contract fees are otherwise eliminated or suspended by the commissioner pursuant to a rule. (b) However, the per-contract fees once eliminated or suspended by rule of the commissioner may be reinstated by subsequent rule of the commissioner adopted upon a public hearing at a later date upon the commissioner's determination that these fees are essential and necessary to the operation of the Division of Prepaid Funeral Benefits of the State Insurance Department. (ii) On and after July 1, 2001, the commissioner shall then transfer from each per-contract fee remitted to the department, into the Prepaid Funeral Contracts Recovery Program Fund pursuant to this act a portion of the fee in an amount to be determined by rules of the commissioner and thereafter to be administered by the commissioner under this subchapter.

(i) (a) Effective for all prepaid funeral benefits contracts executed on and after April 1, 1997, each licensee selling a prepaid funeral benefits contract shall remit to the State Insurance Department a one-time, per-contract fee of not less than five dollars ($5.00) for each prepaid funeral benefits contract, including any amendments thereto, entered into by the licensee, whether cash or trust funded or funded by an insurance policy or annuity contract, unless the per-contract fees are otherwise eliminated or suspended by the commissioner pursuant to a rule. (b) However, the per-contract fees once eliminated or suspended by rule of the commissioner may be reinstated by subsequent rule of the commissioner adopted upon a public hearing at a later date upon the commissioner's determination that these fees are essential and necessary to the operation of the Division of Prepaid Funeral Benefits of the State Insurance Department.

(a) Effective for all prepaid funeral benefits contracts executed on and after April 1, 1997, each licensee selling a prepaid funeral benefits contract shall remit to the State Insurance Department a one-time, per-contract fee of not less than five dollars ($5.00) for each prepaid funeral benefits contract, including any amendments thereto, entered into by the licensee, whether cash or trust funded or funded by an insurance policy or annuity contract, unless the per-contract fees are otherwise eliminated or suspended by the commissioner pursuant to a rule.

(b) However, the per-contract fees once eliminated or suspended by rule of the commissioner may be reinstated by subsequent rule of the commissioner adopted upon a public hearing at a later date upon the commissioner's determination that these fees are essential and necessary to the operation of the Division of Prepaid Funeral Benefits of the State Insurance Department.

(ii) On and after July 1, 2001, the commissioner shall then transfer from each per-contract fee remitted to the department, into the Prepaid Funeral Contracts Recovery Program Fund pursuant to this act a portion of the fee in an amount to be determined by rules of the commissioner and thereafter to be administered by the commissioner under this subchapter.

(B) The per-contract fees shall be remitted annually to the department for each month of the calendar year with the annual report form as prescribed by the commissioner.

(2) (A) (i) On and after July 1, 2001, the commissioner may by rule eliminate, reduce, suspend, or increase the per-contract fee or the portion of the per-contract fee allotted to the Prepaid Funeral Contracts Recovery Program Fund. (ii) The per-contract fee may be charged to the purchaser of the contract. (B) Any fee so charged and collected shall not be included in the term "contract proceeds" as defined in § 23-40-103(6) and shall not be subject to the deposit requirements of § 23-40-114(a) .

(A) (i) On and after July 1, 2001, the commissioner may by rule eliminate, reduce, suspend, or increase the per-contract fee or the portion of the per-contract fee allotted to the Prepaid Funeral Contracts Recovery Program Fund. (ii) The per-contract fee may be charged to the purchaser of the contract.

(i) On and after July 1, 2001, the commissioner may by rule eliminate, reduce, suspend, or increase the per-contract fee or the portion of the per-contract fee allotted to the Prepaid Funeral Contracts Recovery Program Fund.

(ii) The per-contract fee may be charged to the purchaser of the contract.

(B) Any fee so charged and collected shall not be included in the term "contract proceeds" as defined in § 23-40-103(6) and shall not be subject to the deposit requirements of § 23-40-114(a) .

(e) (1) Absent the commissioner's approval of an extension for good cause shown, licensees failing to timely report and pay any administrative and financial regulations fees to the State Insurance Department Prepaid Trust Fund may be subject to a penalty of up to one hundred dollars ($100) per day for each day of delinquency, payable to the State Insurance Department Prepaid Trust Fund. (2) The commissioner shall deposit all administrative and financial regulation fees and any penalties assessed under this section directly into the fund as special revenues.

(1) Absent the commissioner's approval of an extension for good cause shown, licensees failing to timely report and pay any administrative and financial regulations fees to the State Insurance Department Prepaid Trust Fund may be subject to a penalty of up to one hundred dollars ($100) per day for each day of delinquency, payable to the State Insurance Department Prepaid Trust Fund.

(2) The commissioner shall deposit all administrative and financial regulation fees and any penalties assessed under this section directly into the fund as special revenues.

(f) (1) Notwithstanding the provisions of § 23-40-107 , if there are any unused funds from fees collected from organizations under subsections (c) and (d) of this section not disbursed for personal services, operating expenses, maintenance and operations, and support and improvements for the Division of Prepaid Funeral Benefits, the excess funds, if any, may be transferred to the Prepaid Funeral Contracts Recovery Program Fund to provide reparations to purchasers of prepaid funeral contracts who have purchased cash-funded, insurance-funded, or annuity-funded prepaid funeral contracts from organizations that have been: (A) Declared insolvent by a state or federal court of competent jurisdiction; or (B) Determined by either the commissioner or a state or federal court of competent jurisdiction to have fund account deficiencies. (2) Purchasers of prepaid funeral contracts requesting any discretionary relief from the Prepaid Funeral Contracts Recovery Program Fund after July 1, 2001, may include the contract holder or his or her surviving family representative or such other person as described in rules of the department. (3) The commissioner may by rule describe the procedures, claim forms, qualifications, and process of filing a claim for aggrieved purchasers desiring to make a claim for reparations from any excess funds. (4) No purchaser is provided in this section with any administrative right or legal or equitable right to any funds collected from fees collected under this section to satisfy any judgment or economic loss of the purchaser from a prepaid funeral organization, except to the extent that the commissioner, in his or her discretion, has set aside funds to provide discretionary relief to purchasers of prepaid funeral contracts from insolvent prepaid funeral organizations or those organizations with trust fund account shortages, and subject to limits of the Prepaid Funeral Contracts Recovery Program Fund and the claimant's actual contract payments made, excluding additional damages or interest or other equitable relief, or noneconomic damages.

(1) Notwithstanding the provisions of § 23-40-107 , if there are any unused funds from fees collected from organizations under subsections (c) and (d) of this section not disbursed for personal services, operating expenses, maintenance and operations, and support and improvements for the Division of Prepaid Funeral Benefits, the excess funds, if any, may be transferred to the Prepaid Funeral Contracts Recovery Program Fund to provide reparations to purchasers of prepaid funeral contracts who have purchased cash-funded, insurance-funded, or annuity-funded prepaid funeral contracts from organizations that have been: (A) Declared insolvent by a state or federal court of competent jurisdiction; or (B) Determined by either the commissioner or a state or federal court of competent jurisdiction to have fund account deficiencies.

(A) Declared insolvent by a state or federal court of competent jurisdiction; or

(B) Determined by either the commissioner or a state or federal court of competent jurisdiction to have fund account deficiencies.

(2) Purchasers of prepaid funeral contracts requesting any discretionary relief from the Prepaid Funeral Contracts Recovery Program Fund after July 1, 2001, may include the contract holder or his or her surviving family representative or such other person as described in rules of the department.

(3) The commissioner may by rule describe the procedures, claim forms, qualifications, and process of filing a claim for aggrieved purchasers desiring to make a claim for reparations from any excess funds.

(4) No purchaser is provided in this section with any administrative right or legal or equitable right to any funds collected from fees collected under this section to satisfy any judgment or economic loss of the purchaser from a prepaid funeral organization, except to the extent that the commissioner, in his or her discretion, has set aside funds to provide discretionary relief to purchasers of prepaid funeral contracts from insolvent prepaid funeral organizations or those organizations with trust fund account shortages, and subject to limits of the Prepaid Funeral Contracts Recovery Program Fund and the claimant's actual contract payments made, excluding additional damages or interest or other equitable relief, or noneconomic damages.

Amended by Act 2023, No. 345,§ 5, eff. 8/1/2023.

Amended by Act 2023, No. 345,§ 4, eff. 8/1/2023.

Amended by Act 2023, No. 345,§ 3, eff. 8/1/2023.

Amended by Act 2019, No. 315,§ 2509, eff. 7/24/2019.

Amended by Act 2019, No. 315,§ 2508, eff. 7/24/2019.

Amended by Act 2017, No. 283,§ 3, eff. 8/1/2017.

Acts 1985, No. 156, § 11; A.S.A. 1947, § 67-1723; Acts 1995, No. 852, § 11; 1997, No. 372, §§ 8, 9; 1999, No. 1249, § 1; 2001, No. 1043, §§ 5, 6; 2005, No. 1994, § 152.
Ark. Code Ann. § 23-79-1902 — AR Code / Title 23 / Chapter 79 / Subchapter 19 / Section 23-79-1902
Interdisciplinary panel - University of Arkansas for Medical Sciences
Status: in_force

(a) The University of Arkansas for Medical Sciences has partnered with Arkansas Children's Hospital and the National Institute of Mental Health for the establishment and operation of a clinic that currently serves patients with pediatric acute-onset neuropsychiatric syndrome, also known as "PANS", and pediatric autoimmune neuropsychiatric disorder associated with streptococcal infections, also known as "PANDAS". (b) (1) The University of Arkansas for Medical Sciences shall organize an interdisciplinary panel incorporating all components of those affected by PANS/PANDAS, including without limitation working with national organizations. (2) The interdisciplinary panel under subdivision (b)(1) of this section shall include: (A) A member at large from the Arkansas PANS/PANDAS Advisory Council; (B) A member at large who is a medical professional with a minimum experience of two (2) years working with PANS/PANDAS patients and who is recommended by the Arkansas PANS/PANDAS Advisory Council with final approval by the University of Arkansas for Medical Sciences; and (C) A member at large who is a medical director or medical officer from an insurance company licensed in this state to assist in the development of diagnostic criteria for future insurance coverage purposes. (c) An interdisciplinary team shall be established to create a protocol for the treatment of and diagnostic framework for the coverage of PANS and PANDAS by June 1, 2019, to allow for the assignment of an International Classification of Diseases code, such as an ICD-9 code or other applicable medical code for insurance coverage purposes. (d) The interdisciplinary team shall report to the Senate Committee on Public Health, Welfare, and Labor, the House Committee on Public Health, Welfare, and Labor, the Senate Committee on Insurance and Commerce, and the House Committee on Insurance and Commerce no later than August 31, 2019. (e) Once the interdisciplinary team determines appropriate diagnostic criteria for the protocol, a final report with recommendations shall be submitted to the Senate Committee on Public Health, Welfare, and Labor, the House Committee on Public Health, Welfare, and Labor, the Senate Committee on Insurance and Commerce, the House Committee on Insurance and Commerce, and the General Assembly to include recommendations concerning mandating insurance coverage for the treatment of PANS and PANDAS for the next scheduled regular session that convenes after the submission of the report or the Governor is encouraged to add the recommendation to the call of any special session that is convened before the next scheduled regular session. (f) The expectation for the interdisciplinary team is that: (1) Every available tool will be utilized to make healthcare services for the treatment of PANS and PANDAS available statewide through the University of Arkansas for Medical Sciences network and available services, including telemedicine; and (2) Once the interdisciplinary team determines the diagnostic criteria for purposes of insurance coverage, all insurance companies and health benefit plans that are licensed in this state shall provide coverage for the treatment of PANS and PANDAS diagnosed according to the established diagnostic criteria recommended by the interdisciplinary team. (g) The goal of the interdisciplinary team is to have the diagnostic criteria finalized and ready to be presented at the December 2019 meeting of the Senate Committee on Public Health, Welfare, and Labor, the House Committee on Public Health, Welfare, and Labor, the Senate Committee on Insurance and Commerce, and the House Committee on Insurance and Commerce. Added by Act 2019, No. 878,§ 1, eff. 7/24/2019.

(a) The University of Arkansas for Medical Sciences has partnered with Arkansas Children's Hospital and the National Institute of Mental Health for the establishment and operation of a clinic that currently serves patients with pediatric acute-onset neuropsychiatric syndrome, also known as "PANS", and pediatric autoimmune neuropsychiatric disorder associated with streptococcal infections, also known as "PANDAS".

(b) (1) The University of Arkansas for Medical Sciences shall organize an interdisciplinary panel incorporating all components of those affected by PANS/PANDAS, including without limitation working with national organizations. (2) The interdisciplinary panel under subdivision (b)(1) of this section shall include: (A) A member at large from the Arkansas PANS/PANDAS Advisory Council; (B) A member at large who is a medical professional with a minimum experience of two (2) years working with PANS/PANDAS patients and who is recommended by the Arkansas PANS/PANDAS Advisory Council with final approval by the University of Arkansas for Medical Sciences; and (C) A member at large who is a medical director or medical officer from an insurance company licensed in this state to assist in the development of diagnostic criteria for future insurance coverage purposes.

(1) The University of Arkansas for Medical Sciences shall organize an interdisciplinary panel incorporating all components of those affected by PANS/PANDAS, including without limitation working with national organizations.

(2) The interdisciplinary panel under subdivision (b)(1) of this section shall include: (A) A member at large from the Arkansas PANS/PANDAS Advisory Council; (B) A member at large who is a medical professional with a minimum experience of two (2) years working with PANS/PANDAS patients and who is recommended by the Arkansas PANS/PANDAS Advisory Council with final approval by the University of Arkansas for Medical Sciences; and (C) A member at large who is a medical director or medical officer from an insurance company licensed in this state to assist in the development of diagnostic criteria for future insurance coverage purposes.

(A) A member at large from the Arkansas PANS/PANDAS Advisory Council;

(B) A member at large who is a medical professional with a minimum experience of two (2) years working with PANS/PANDAS patients and who is recommended by the Arkansas PANS/PANDAS Advisory Council with final approval by the University of Arkansas for Medical Sciences; and

(C) A member at large who is a medical director or medical officer from an insurance company licensed in this state to assist in the development of diagnostic criteria for future insurance coverage purposes.

(c) An interdisciplinary team shall be established to create a protocol for the treatment of and diagnostic framework for the coverage of PANS and PANDAS by June 1, 2019, to allow for the assignment of an International Classification of Diseases code, such as an ICD-9 code or other applicable medical code for insurance coverage purposes.

(d) The interdisciplinary team shall report to the Senate Committee on Public Health, Welfare, and Labor, the House Committee on Public Health, Welfare, and Labor, the Senate Committee on Insurance and Commerce, and the House Committee on Insurance and Commerce no later than August 31, 2019.

(e) Once the interdisciplinary team determines appropriate diagnostic criteria for the protocol, a final report with recommendations shall be submitted to the Senate Committee on Public Health, Welfare, and Labor, the House Committee on Public Health, Welfare, and Labor, the Senate Committee on Insurance and Commerce, the House Committee on Insurance and Commerce, and the General Assembly to include recommendations concerning mandating insurance coverage for the treatment of PANS and PANDAS for the next scheduled regular session that convenes after the submission of the report or the Governor is encouraged to add the recommendation to the call of any special session that is convened before the next scheduled regular session.

(f) The expectation for the interdisciplinary team is that: (1) Every available tool will be utilized to make healthcare services for the treatment of PANS and PANDAS available statewide through the University of Arkansas for Medical Sciences network and available services, including telemedicine; and (2) Once the interdisciplinary team determines the diagnostic criteria for purposes of insurance coverage, all insurance companies and health benefit plans that are licensed in this state shall provide coverage for the treatment of PANS and PANDAS diagnosed according to the established diagnostic criteria recommended by the interdisciplinary team.

(1) Every available tool will be utilized to make healthcare services for the treatment of PANS and PANDAS available statewide through the University of Arkansas for Medical Sciences network and available services, including telemedicine; and

(2) Once the interdisciplinary team determines the diagnostic criteria for purposes of insurance coverage, all insurance companies and health benefit plans that are licensed in this state shall provide coverage for the treatment of PANS and PANDAS diagnosed according to the established diagnostic criteria recommended by the interdisciplinary team.

(g) The goal of the interdisciplinary team is to have the diagnostic criteria finalized and ready to be presented at the December 2019 meeting of the Senate Committee on Public Health, Welfare, and Labor, the House Committee on Public Health, Welfare, and Labor, the Senate Committee on Insurance and Commerce, and the House Committee on Insurance and Commerce.

Added by Act 2019, No. 878,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 23-51-143 — AR Code / Title 23 / Chapter 51 / Section 23-51-143
Officers
Status: in_force

The board shall annually elect the officers of the state trust company, who serve at the pleasure of the board. The state trust company must have a principal executive officer primarily responsible for the execution of board policies and operation of the state trust company and an officer responsible for the maintenance and storage of all corporate books and records of the state trust company and for required attestation of signatures. The board may appoint other officers of the state trust company as the board considers necessary. The duties of any two or more officers may be combined by the board and held by one person. Acts 1997, No. 940, § 43.

The board shall annually elect the officers of the state trust company, who serve at the pleasure of the board. The state trust company must have a principal executive officer primarily responsible for the execution of board policies and operation of the state trust company and an officer responsible for the maintenance and storage of all corporate books and records of the state trust company and for required attestation of signatures. The board may appoint other officers of the state trust company as the board considers necessary. The duties of any two or more officers may be combined by the board and held by one person.

Acts 1997, No. 940, § 43.
Ark. Code Ann. § 23-99-1301 — AR Code / Title 23 / Chapter 99 / Subchapter 13 / Section 23-99-1301
Definitions
Status: in_force

As used in this subchapter: (1) "Contracting entity" means a healthcare insurer or any subcontractor, affiliate, or other entity that contracts directly or indirectly with a healthcare provider for the delivery of healthcare services to enrollees; (2) "Enrollee" means a person who is entitled to receive healthcare services under the terms of a health benefit plan; (3) (A) "Health benefit plan" means a plan, policy, contract, certificate, agreement, or other evidence of coverage for healthcare services offered or issued by a healthcare insurer in this state. (B) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under an automobile or homeowners insurance plan; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A long-term care insurance plan; or (x) A vision-only plan; (4) "Healthcare contract" means a contract entered into, materially amended, or renewed between a contracting entity and a healthcare provider for the delivery of healthcare services to enrollees; (5) (A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state. (B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; and (v) A sponsor of a nonfederal self-funded governmental plan; (6) "Healthcare provider" means a person or entity that is licensed, certified, or otherwise authorized by the laws of this state to provide healthcare services; (7) "Healthcare services" means services or goods provided for the purpose of preventing, diagnosing, treating, alleviating, relieving, curing, or healing human illness, disease, condition, disability, or injury; (8) "Out-of-network provider" means a healthcare provider that provides healthcare services to an enrollee but is not a participating provider; (9) "Participating provider" means a healthcare provider that has a healthcare contract with a contracting entity to provide healthcare services to enrollees with the expectation of receiving payment either directly from the contracting entity or from a healthcare insurer affiliated with the contracting entity; and (10) "Payor" means a contracting entity or healthcare insurer responsible for payment for healthcare services provided to an enrollee under the terms of a healthcare contract or a health benefit plan. Amended by Act 2023, No. 831,§ 1, eff. 1/1/2024. Added by Act 2019, No. 736,§ 1, eff. 7/24/2019.

As used in this subchapter:

(1) "Contracting entity" means a healthcare insurer or any subcontractor, affiliate, or other entity that contracts directly or indirectly with a healthcare provider for the delivery of healthcare services to enrollees;

(2) "Enrollee" means a person who is entitled to receive healthcare services under the terms of a health benefit plan;

(3) (A) "Health benefit plan" means a plan, policy, contract, certificate, agreement, or other evidence of coverage for healthcare services offered or issued by a healthcare insurer in this state. (B) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under an automobile or homeowners insurance plan; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A long-term care insurance plan; or (x) A vision-only plan;

(A) "Health benefit plan" means a plan, policy, contract, certificate, agreement, or other evidence of coverage for healthcare services offered or issued by a healthcare insurer in this state.

(B) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) Medical payments under an automobile or homeowners insurance plan; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A long-term care insurance plan; or (x) A vision-only plan;

(i) A disability income plan;

(ii) A credit insurance plan;

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

(iv) Medical payments under an automobile or homeowners insurance plan;

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

(vi) A plan that provides only indemnity for hospital confinement;

(vii) An accident-only plan;

(viii) A specified disease plan;

(ix) A long-term care insurance plan; or

(x) A vision-only plan;

(4) "Healthcare contract" means a contract entered into, materially amended, or renewed between a contracting entity and a healthcare provider for the delivery of healthcare services to enrollees;

(5) (A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state. (B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; and (v) A sponsor of a nonfederal self-funded governmental plan;

(A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state.

(B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; and (v) A sponsor of a nonfederal self-funded governmental plan;

(i) An insurance company;

(ii) A health maintenance organization;

(iii) A hospital and medical service corporation;

(iv) A risk-based provider organization; and

(v) A sponsor of a nonfederal self-funded governmental plan;

(6) "Healthcare provider" means a person or entity that is licensed, certified, or otherwise authorized by the laws of this state to provide healthcare services;

(7) "Healthcare services" means services or goods provided for the purpose of preventing, diagnosing, treating, alleviating, relieving, curing, or healing human illness, disease, condition, disability, or injury;

(8) "Out-of-network provider" means a healthcare provider that provides healthcare services to an enrollee but is not a participating provider;

(9) "Participating provider" means a healthcare provider that has a healthcare contract with a contracting entity to provide healthcare services to enrollees with the expectation of receiving payment either directly from the contracting entity or from a healthcare insurer affiliated with the contracting entity; and

(10) "Payor" means a contracting entity or healthcare insurer responsible for payment for healthcare services provided to an enrollee under the terms of a healthcare contract or a health benefit plan.

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

Added by Act 2019, No. 736,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 23-37-210 — AR Code / Title 23 / Chapter 37 / Subchapter 2 / Section 23-37-210
Annual audit and examination
Status: in_force

(a) (1) The affairs of every association subject to this chapter shall be examined and audited periodically by the Supervisor of Savings and Loan Associations. (2) However, the audit and examination may be performed jointly by the supervisor and either the Federal Home Loan Bank Board [abolished], a Federal Home Loan bank, or the Federal Savings and Loan Insurance Corporation [abolished]. The supervisor shall accept the examination and audit, in whole or in part, of either the Federal Home Loan Bank Board [abolished], a Federal Home Loan bank, the Federal Savings and Loan Insurance Corporation [abolished], or an independent certified public accountant, provided the examination and audit are made available to the supervisor. Federal records, documents, and examinations received by the supervisor are not public unless released by the appropriate federal agency. (b) The report of the examinations, any letters of comment, and the audit shall be filed with the supervisor. (c) The supervisor or his or her authorized representative shall have free access to all books and records of an association. (d) Whenever in the judgment of the supervisor the condition of an association renders it necessary or expedient to make extra or additional examinations or audits, the supervisor shall cause the additional work to be done, and the association shall pay the cost of it. (e) Every report of examination or audit shall be presented by the president of the association to its board of directors at their next regular meeting, or at a special meeting called for that purpose, and noted in the minutes thereof. Acts 1963, No. 227, § 49; 1979, No. 361, § 9; A.S.A. 1947, § 67-1849.

(a) (1) The affairs of every association subject to this chapter shall be examined and audited periodically by the Supervisor of Savings and Loan Associations. (2) However, the audit and examination may be performed jointly by the supervisor and either the Federal Home Loan Bank Board [abolished], a Federal Home Loan bank, or the Federal Savings and Loan Insurance Corporation [abolished]. The supervisor shall accept the examination and audit, in whole or in part, of either the Federal Home Loan Bank Board [abolished], a Federal Home Loan bank, the Federal Savings and Loan Insurance Corporation [abolished], or an independent certified public accountant, provided the examination and audit are made available to the supervisor. Federal records, documents, and examinations received by the supervisor are not public unless released by the appropriate federal agency.

(1) The affairs of every association subject to this chapter shall be examined and audited periodically by the Supervisor of Savings and Loan Associations.

(2) However, the audit and examination may be performed jointly by the supervisor and either the Federal Home Loan Bank Board [abolished], a Federal Home Loan bank, or the Federal Savings and Loan Insurance Corporation [abolished]. The supervisor shall accept the examination and audit, in whole or in part, of either the Federal Home Loan Bank Board [abolished], a Federal Home Loan bank, the Federal Savings and Loan Insurance Corporation [abolished], or an independent certified public accountant, provided the examination and audit are made available to the supervisor. Federal records, documents, and examinations received by the supervisor are not public unless released by the appropriate federal agency.

(b) The report of the examinations, any letters of comment, and the audit shall be filed with the supervisor.

(c) The supervisor or his or her authorized representative shall have free access to all books and records of an association.

(d) Whenever in the judgment of the supervisor the condition of an association renders it necessary or expedient to make extra or additional examinations or audits, the supervisor shall cause the additional work to be done, and the association shall pay the cost of it.

(e) Every report of examination or audit shall be presented by the president of the association to its board of directors at their next regular meeting, or at a special meeting called for that purpose, and noted in the minutes thereof.

Acts 1963, No. 227, § 49; 1979, No. 361, § 9; A.S.A. 1947, § 67-1849.
Ark. Code Ann. § 23-79-1207 — AR Code / Title 23 / Chapter 79 / Subchapter 12 / Section 23-79-1207
Cost-sharing
Status: in_force

(a) To encourage colorectal cancer screenings, patients and healthcare providers shall not be required to meet burdensome criteria or overcome significant obstacles to obtain coverage. (b) (1) An individual shall not be required to pay an additional deductible or coinsurance for testing that is greater than an annual deductible or coinsurance established for similar benefits. (2) (A) Beginning on and after January 1, 2022, a healthcare policy offered to an employee at the time of hiring or healthcare policy renewal shall not contain a cost-sharing requirement for a follow-up colonoscopy. (B) A covered person shall not be subject to a deductible, coinsurance, or any other cost-sharing requirement for services received from participating providers under a healthcare policy following an abnormal noncolonoscopy screening test, as an initial screening test is not considered complete until a follow-up colonoscopy is performed. (c) If the program or contract does not cover a similar benefit, a deductible or coinsurance shall not be set at a level that materially diminishes the value of the colorectal cancer benefit required under this subchapter. (d) Reimbursement to healthcare providers for colorectal cancer screenings provided under this section shall be equal to or greater than reimbursement to healthcare providers under Medicare, Title XVII of the Social Security Act, 42 U.S.C. § 1395 et seq., as it existed on January 1, 2021. Amended by Act 2021, No. 779,§ 5, eff. 1/1/2022. Acts 2005, No. 2236, § 2.

(a) To encourage colorectal cancer screenings, patients and healthcare providers shall not be required to meet burdensome criteria or overcome significant obstacles to obtain coverage.

(b) (1) An individual shall not be required to pay an additional deductible or coinsurance for testing that is greater than an annual deductible or coinsurance established for similar benefits. (2) (A) Beginning on and after January 1, 2022, a healthcare policy offered to an employee at the time of hiring or healthcare policy renewal shall not contain a cost-sharing requirement for a follow-up colonoscopy. (B) A covered person shall not be subject to a deductible, coinsurance, or any other cost-sharing requirement for services received from participating providers under a healthcare policy following an abnormal noncolonoscopy screening test, as an initial screening test is not considered complete until a follow-up colonoscopy is performed.

(1) An individual shall not be required to pay an additional deductible or coinsurance for testing that is greater than an annual deductible or coinsurance established for similar benefits.

(2) (A) Beginning on and after January 1, 2022, a healthcare policy offered to an employee at the time of hiring or healthcare policy renewal shall not contain a cost-sharing requirement for a follow-up colonoscopy. (B) A covered person shall not be subject to a deductible, coinsurance, or any other cost-sharing requirement for services received from participating providers under a healthcare policy following an abnormal noncolonoscopy screening test, as an initial screening test is not considered complete until a follow-up colonoscopy is performed.

(A) Beginning on and after January 1, 2022, a healthcare policy offered to an employee at the time of hiring or healthcare policy renewal shall not contain a cost-sharing requirement for a follow-up colonoscopy.

(B) A covered person shall not be subject to a deductible, coinsurance, or any other cost-sharing requirement for services received from participating providers under a healthcare policy following an abnormal noncolonoscopy screening test, as an initial screening test is not considered complete until a follow-up colonoscopy is performed.

(c) If the program or contract does not cover a similar benefit, a deductible or coinsurance shall not be set at a level that materially diminishes the value of the colorectal cancer benefit required under this subchapter.

(d) Reimbursement to healthcare providers for colorectal cancer screenings provided under this section shall be equal to or greater than reimbursement to healthcare providers under Medicare, Title XVII of the Social Security Act, 42 U.S.C. § 1395 et seq., as it existed on January 1, 2021.

Amended by Act 2021, No. 779,§ 5, eff. 1/1/2022.

Acts 2005, No. 2236, § 2.
Ark. Code Ann. § 23-110-105 — AR Code / Title 23 / Chapter 110 / Subchapter 1 / Section 23-110-105
Racing passes
Status: in_force

(a) The Secretary of the Department of Finance and Administration shall set a maximum number of racing passes to be printed and issued annually, and it shall not be less than the number printed in 1990. (b) (1) Racing passes provided to and accepted by members of the General Assembly and constitutional officers are to be distributed by them to: (A) Their constituents, in order to provide a statewide distribution of the racing passes; and (B) Persons residing outside the State of Arkansas, in order to promote tourism and advance the economic interests of the state. (2) The passes provided to the members of the General Assembly and constitutional officers are not for their personal use but are for redistribution as provided in this section and therefore do not constitute gifts or compensation to members of the General Assembly and constitutional officers for the purposes of any law of this state. (c) This section does not prohibit members of the General Assembly and constitutional officers from redistributing racing passes to other members of the General Assembly or other state constitutional officers. Amended by Act 2019, No. 910,§ 3513, eff. 7/1/2019. Acts 1991, No. 1117, § 5; 1993, No. 341, § 5; 1995, No. 7, § 6; 1997, No. 73, § 6; 2001, No. 61, § 1.

(a) The Secretary of the Department of Finance and Administration shall set a maximum number of racing passes to be printed and issued annually, and it shall not be less than the number printed in 1990.

(b) (1) Racing passes provided to and accepted by members of the General Assembly and constitutional officers are to be distributed by them to: (A) Their constituents, in order to provide a statewide distribution of the racing passes; and (B) Persons residing outside the State of Arkansas, in order to promote tourism and advance the economic interests of the state. (2) The passes provided to the members of the General Assembly and constitutional officers are not for their personal use but are for redistribution as provided in this section and therefore do not constitute gifts or compensation to members of the General Assembly and constitutional officers for the purposes of any law of this state.

(1) Racing passes provided to and accepted by members of the General Assembly and constitutional officers are to be distributed by them to: (A) Their constituents, in order to provide a statewide distribution of the racing passes; and (B) Persons residing outside the State of Arkansas, in order to promote tourism and advance the economic interests of the state.

(A) Their constituents, in order to provide a statewide distribution of the racing passes; and

(B) Persons residing outside the State of Arkansas, in order to promote tourism and advance the economic interests of the state.

(2) The passes provided to the members of the General Assembly and constitutional officers are not for their personal use but are for redistribution as provided in this section and therefore do not constitute gifts or compensation to members of the General Assembly and constitutional officers for the purposes of any law of this state.

(c) This section does not prohibit members of the General Assembly and constitutional officers from redistributing racing passes to other members of the General Assembly or other state constitutional officers.

Amended by Act 2019, No. 910,§ 3513, eff. 7/1/2019.

Acts 1991, No. 1117, § 5; 1993, No. 341, § 5; 1995, No. 7, § 6; 1997, No. 73, § 6; 2001, No. 61, § 1.
Ark. Code Ann. § 23-96-108 — AR Code / Title 23 / Chapter 96 / Section 23-96-108
Immunity
Status: in_force

(a) The following are not liable for or subject to any cause of action resulting from an act or omission by them in the performance of their powers and duties under this chapter: (1) A member insurer or its agents or employees; (2) The Arkansas Life and Health Insurance Guaranty Association or its agents or employees; (3) Members of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association; or (4) The Insurance Commissioner or his or her representatives. (b) Immunity under this section extends to the participation in any organization of one (1) or more other state associations of similar purposes and to any such organization and its agents or employees. Amended by Act 2019, No. 520,§ 2, eff. 7/24/2019. Acts 1989, No. 444, § 17; 1997, No. 950, § 1.

(a) The following are not liable for or subject to any cause of action resulting from an act or omission by them in the performance of their powers and duties under this chapter: (1) A member insurer or its agents or employees; (2) The Arkansas Life and Health Insurance Guaranty Association or its agents or employees; (3) Members of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association; or (4) The Insurance Commissioner or his or her representatives.

(1) A member insurer or its agents or employees;

(2) The Arkansas Life and Health Insurance Guaranty Association or its agents or employees;

(3) Members of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association; or

(4) The Insurance Commissioner or his or her representatives.

(b) Immunity under this section extends to the participation in any organization of one (1) or more other state associations of similar purposes and to any such organization and its agents or employees.

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

Acts 1989, No. 444, § 17; 1997, No. 950, § 1.
Ark. Code Ann. § 23-63-209 — AR Code / Title 23 / Chapter 63 / Subchapter 2 / Section 23-63-209
Certificate of authority - Application
Status: in_force

(a) To apply for an original certificate of authority, an insurer shall file with the Insurance Commissioner its application therefor, accompanied by the applicable fees as specified in § 23-61-401 , showing its name, location of its home office or principal office in the United States, if an alien insurer, kinds of insurance to be transacted, state or country of domicile, and such additional information as the commissioner may reasonably require together with, but not limited to, the following documents, as applicable: (1) A copy of its corporate charter or articles of incorporation with all amendments thereto, certified by the public officer with whom the originals are on file in the state or country of domicile; (2) If a mutual insurer, a copy of its bylaws, as amended, certified by its secretary or other officer having custody thereof; (3) If a foreign reciprocal insurer, copies of the power of attorney of its attorney in fact and, if a separate instrument, its subscribers' agreement, certified by its attorney in fact; and if a domestic reciprocal insurer, the declaration provided for by § 23-70-106 ; (4) A copy of its financial statement as of December 31, next preceding, sworn to by at least two (2) executive officers of the insurer or certified by the public insurance supervisory officials of the insurer's state of domicile or of entry into the United States. The insurer may use the form of statement currently approved by the National Association of Insurance Commissioners or its successor organization; (5) A copy of the report of last examination, if any, made of the insurer, certified by the insurance supervisory official of its state of domicile or of entry into the United States; (6) On and after January 1, 2003, registration of registered agents for service of process to be made pursuant to § 23-63-301 et seq.; (7) If a foreign insurer, a certificate of the public official having supervision of insurance in its state or country of domicile showing that it is authorized to transact the kinds of insurance proposed to be transacted in this state; (8) If an alien insurer, a copy of the appointment and authority of its United States manager, certified by its officer having custody of its records; (9) Any bond, deposit, or evidence of deposit in another state, as required under § 23-63-206 ; (10) Specimen copies of policies proposed to be offered in this state; and (11) A detailed digest of the company history evidencing successful operation, with reference to insurance in force, claims record, and such other data as the commissioner may request. (b) Before granting a certificate of authority to an insurance company, the commissioner shall be satisfied, by such examination as he or she deems necessary to make and by review of such evidence as he or she deems necessary to require, that the company is qualified under the laws of this state to transact business in this state. The costs of any examinations will be reimbursed pursuant to § 23-61-206 . Acts 1959, No. 148, § 53; 1969, No. 322, § 1; A.S.A. 1947, § 66-2211; Acts 1987, No. 456, § 6; 2001, No. 1604, § 22.

(a) To apply for an original certificate of authority, an insurer shall file with the Insurance Commissioner its application therefor, accompanied by the applicable fees as specified in § 23-61-401 , showing its name, location of its home office or principal office in the United States, if an alien insurer, kinds of insurance to be transacted, state or country of domicile, and such additional information as the commissioner may reasonably require together with, but not limited to, the following documents, as applicable: (1) A copy of its corporate charter or articles of incorporation with all amendments thereto, certified by the public officer with whom the originals are on file in the state or country of domicile; (2) If a mutual insurer, a copy of its bylaws, as amended, certified by its secretary or other officer having custody thereof; (3) If a foreign reciprocal insurer, copies of the power of attorney of its attorney in fact and, if a separate instrument, its subscribers' agreement, certified by its attorney in fact; and if a domestic reciprocal insurer, the declaration provided for by § 23-70-106 ; (4) A copy of its financial statement as of December 31, next preceding, sworn to by at least two (2) executive officers of the insurer or certified by the public insurance supervisory officials of the insurer's state of domicile or of entry into the United States. The insurer may use the form of statement currently approved by the National Association of Insurance Commissioners or its successor organization; (5) A copy of the report of last examination, if any, made of the insurer, certified by the insurance supervisory official of its state of domicile or of entry into the United States; (6) On and after January 1, 2003, registration of registered agents for service of process to be made pursuant to § 23-63-301 et seq.; (7) If a foreign insurer, a certificate of the public official having supervision of insurance in its state or country of domicile showing that it is authorized to transact the kinds of insurance proposed to be transacted in this state; (8) If an alien insurer, a copy of the appointment and authority of its United States manager, certified by its officer having custody of its records; (9) Any bond, deposit, or evidence of deposit in another state, as required under § 23-63-206 ; (10) Specimen copies of policies proposed to be offered in this state; and (11) A detailed digest of the company history evidencing successful operation, with reference to insurance in force, claims record, and such other data as the commissioner may request.

(1) A copy of its corporate charter or articles of incorporation with all amendments thereto, certified by the public officer with whom the originals are on file in the state or country of domicile;

(2) If a mutual insurer, a copy of its bylaws, as amended, certified by its secretary or other officer having custody thereof;

(3) If a foreign reciprocal insurer, copies of the power of attorney of its attorney in fact and, if a separate instrument, its subscribers' agreement, certified by its attorney in fact; and if a domestic reciprocal insurer, the declaration provided for by § 23-70-106 ;

(4) A copy of its financial statement as of December 31, next preceding, sworn to by at least two (2) executive officers of the insurer or certified by the public insurance supervisory officials of the insurer's state of domicile or of entry into the United States. The insurer may use the form of statement currently approved by the National Association of Insurance Commissioners or its successor organization;

(5) A copy of the report of last examination, if any, made of the insurer, certified by the insurance supervisory official of its state of domicile or of entry into the United States;

(6) On and after January 1, 2003, registration of registered agents for service of process to be made pursuant to § 23-63-301 et seq.;

(7) If a foreign insurer, a certificate of the public official having supervision of insurance in its state or country of domicile showing that it is authorized to transact the kinds of insurance proposed to be transacted in this state;

(8) If an alien insurer, a copy of the appointment and authority of its United States manager, certified by its officer having custody of its records;

(9) Any bond, deposit, or evidence of deposit in another state, as required under § 23-63-206 ;

(10) Specimen copies of policies proposed to be offered in this state; and

(11) A detailed digest of the company history evidencing successful operation, with reference to insurance in force, claims record, and such other data as the commissioner may request.

(b) Before granting a certificate of authority to an insurance company, the commissioner shall be satisfied, by such examination as he or she deems necessary to make and by review of such evidence as he or she deems necessary to require, that the company is qualified under the laws of this state to transact business in this state. The costs of any examinations will be reimbursed pursuant to § 23-61-206 .

Acts 1959, No. 148, § 53; 1969, No. 322, § 1; A.S.A. 1947, § 66-2211; Acts 1987, No. 456, § 6; 2001, No. 1604, § 22.
Ark. Code Ann. § 23-64-508 — AR Code / Title 23 / Chapter 64 / Subchapter 5 / Section 23-64-508
Nonresident licensing - Definition
Status: in_force

(a) Unless denied licensure pursuant to § 23-64-512 , a nonresident person shall receive a nonresident producer license if: (1) The person is currently licensed as a resident and in good standing in his or her home state; (2) The person has submitted the proper request for licensure and has paid the fees required by § 23-61-401 and any existing or future rule and regulation; (3) The person has submitted or transmitted to the Insurance Commissioner the application for licensure that the person submitted to his or her home state, or in lieu of the same, a completed National Association of Insurance Commissioners' Uniform Application; and (4) The person's home state awards nonresident producer licenses to residents of this state on the same basis. (b) (1) The commissioner may verify the producer's licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates, or its subsidiaries. (2) If at any time the nonresident producer has his or her home state producer license suspended, revoked, or terminated, the commissioner may summarily suspend the nonresident producer's nonresident producer license. (3) A suspension under this subsection shall be lifted as a matter of law upon receipt of sufficient evidence that the nonresident producer's home state license is active and the nonresident producer is in good standing. (c) A nonresident producer who moves from one state to another state or a resident producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within thirty (30) days after the change of legal residence. No fee or license application is required. (d) Notwithstanding any other provision of this subchapter, a person licensed as a surplus lines producer in his or her home state shall receive a nonresident surplus lines producer license pursuant to subsection (a) of this section. Except as to subsection (a) of this section, nothing in this section otherwise amends or supercedes any provision of the Surplus Lines Insurance Law, § 23-65-301 et seq. (e) (1) Notwithstanding any other provision of this subchapter, a person licensed as a limited line credit insurance or other type of limited lines producer in his or her home state shall receive a nonresident limited lines producer license, pursuant to subsection (a) of this section, granting the same scope of authority as granted under the license issued by the producer's home state. (2) For the purposes of this subsection, "limited line insurance" is any authority granted by the home state which restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to § 23-64-507(a)(1) -(6). Acts 2001, No. 580, § 1; 2011, No. 760, § 8.

(a) Unless denied licensure pursuant to § 23-64-512 , a nonresident person shall receive a nonresident producer license if: (1) The person is currently licensed as a resident and in good standing in his or her home state; (2) The person has submitted the proper request for licensure and has paid the fees required by § 23-61-401 and any existing or future rule and regulation; (3) The person has submitted or transmitted to the Insurance Commissioner the application for licensure that the person submitted to his or her home state, or in lieu of the same, a completed National Association of Insurance Commissioners' Uniform Application; and (4) The person's home state awards nonresident producer licenses to residents of this state on the same basis.

(1) The person is currently licensed as a resident and in good standing in his or her home state;

(2) The person has submitted the proper request for licensure and has paid the fees required by § 23-61-401 and any existing or future rule and regulation;

(3) The person has submitted or transmitted to the Insurance Commissioner the application for licensure that the person submitted to his or her home state, or in lieu of the same, a completed National Association of Insurance Commissioners' Uniform Application; and

(4) The person's home state awards nonresident producer licenses to residents of this state on the same basis.

(b) (1) The commissioner may verify the producer's licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates, or its subsidiaries. (2) If at any time the nonresident producer has his or her home state producer license suspended, revoked, or terminated, the commissioner may summarily suspend the nonresident producer's nonresident producer license. (3) A suspension under this subsection shall be lifted as a matter of law upon receipt of sufficient evidence that the nonresident producer's home state license is active and the nonresident producer is in good standing.

(1) The commissioner may verify the producer's licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates, or its subsidiaries.

(2) If at any time the nonresident producer has his or her home state producer license suspended, revoked, or terminated, the commissioner may summarily suspend the nonresident producer's nonresident producer license.

(3) A suspension under this subsection shall be lifted as a matter of law upon receipt of sufficient evidence that the nonresident producer's home state license is active and the nonresident producer is in good standing.

(c) A nonresident producer who moves from one state to another state or a resident producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within thirty (30) days after the change of legal residence. No fee or license application is required.

(d) Notwithstanding any other provision of this subchapter, a person licensed as a surplus lines producer in his or her home state shall receive a nonresident surplus lines producer license pursuant to subsection (a) of this section. Except as to subsection (a) of this section, nothing in this section otherwise amends or supercedes any provision of the Surplus Lines Insurance Law, § 23-65-301 et seq.

(e) (1) Notwithstanding any other provision of this subchapter, a person licensed as a limited line credit insurance or other type of limited lines producer in his or her home state shall receive a nonresident limited lines producer license, pursuant to subsection (a) of this section, granting the same scope of authority as granted under the license issued by the producer's home state. (2) For the purposes of this subsection, "limited line insurance" is any authority granted by the home state which restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to § 23-64-507(a)(1) -(6).

(1) Notwithstanding any other provision of this subchapter, a person licensed as a limited line credit insurance or other type of limited lines producer in his or her home state shall receive a nonresident limited lines producer license, pursuant to subsection (a) of this section, granting the same scope of authority as granted under the license issued by the producer's home state.

(2) For the purposes of this subsection, "limited line insurance" is any authority granted by the home state which restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to § 23-64-507(a)(1) -(6).

Acts 2001, No. 580, § 1; 2011, No. 760, § 8.
Ark. Code Ann. § 23-94-201 — AR Code / Title 23 / Chapter 94 / Subchapter 2 / Section 23-94-201
Title
Status: in_force

This subchapter may be cited as the "Risk Retention and Purchasing Groups Act". Acts 1995, No. 623, § 1.

This subchapter may be cited as the "Risk Retention and Purchasing Groups Act".

Acts 1995, No. 623, § 1.
Ark. Code Ann. § 23-12-613 — AR Code / Title 23 / Chapter 12 / Subchapter 6 / Section 23-12-613
Receiver appointed upon attempt to abandon
Status: in_force

(a) If any railroad corporation, manager, or receiver shall attempt to abandon any railroad, or part thereof, by failing to operate its trains, or to resume operation of its trains over its railroad, or part thereof, if the operation of trains has been abandoned, the Arkansas Department of Transportation shall report the attempted abandonment to the Attorney General. (b) The Attorney General shall, at once, file a suit in behalf of the state against that railroad corporation, manager, or receiver in the Pulaski County Circuit Court, or of any county through which the railroad passes. Suit shall be filed for the purpose of determining whether the corporation has abused its rights and privileges as a common carrier and granted by the State of Arkansas. (c) (1) If the court determines that the corporation, manager, or receiver has so failed or refused to carry out its obligations as a common carrier, then the court shall appoint a receiver for the purpose of operating the railroad and providing the service to the public. (2) The receiver shall have no connection directly or indirectly with the railroad corporation, manager, or receiver prior to the time of his or her appointment, but he or she shall be a good business person and qualified to perform the duties of the receiver. (d) The receiver shall collect freight and passenger rates as prescribed by law and shall do and perform any and all things necessary in the operation of the trains over the road and shall report to the court at such times as the court may direct. Amended by Act 2017, No. 707,§ 181, eff. 8/1/2017. Acts 1947, No. 90, § 1; A.S.A. 1947, § 73-814.

(a) If any railroad corporation, manager, or receiver shall attempt to abandon any railroad, or part thereof, by failing to operate its trains, or to resume operation of its trains over its railroad, or part thereof, if the operation of trains has been abandoned, the Arkansas Department of Transportation shall report the attempted abandonment to the Attorney General.

(b) The Attorney General shall, at once, file a suit in behalf of the state against that railroad corporation, manager, or receiver in the Pulaski County Circuit Court, or of any county through which the railroad passes. Suit shall be filed for the purpose of determining whether the corporation has abused its rights and privileges as a common carrier and granted by the State of Arkansas.

(c) (1) If the court determines that the corporation, manager, or receiver has so failed or refused to carry out its obligations as a common carrier, then the court shall appoint a receiver for the purpose of operating the railroad and providing the service to the public. (2) The receiver shall have no connection directly or indirectly with the railroad corporation, manager, or receiver prior to the time of his or her appointment, but he or she shall be a good business person and qualified to perform the duties of the receiver.

(1) If the court determines that the corporation, manager, or receiver has so failed or refused to carry out its obligations as a common carrier, then the court shall appoint a receiver for the purpose of operating the railroad and providing the service to the public.

(2) The receiver shall have no connection directly or indirectly with the railroad corporation, manager, or receiver prior to the time of his or her appointment, but he or she shall be a good business person and qualified to perform the duties of the receiver.

(d) The receiver shall collect freight and passenger rates as prescribed by law and shall do and perform any and all things necessary in the operation of the trains over the road and shall report to the court at such times as the court may direct.

Amended by Act 2017, No. 707,§ 181, eff. 8/1/2017.

Acts 1947, No. 90, § 1; A.S.A. 1947, § 73-814.
Ark. Code Ann. § 23-63-510 — AR Code / Title 23 / Chapter 63 / Subchapter 5 / Section 23-63-510
Control of or merger with domestic insurer - Approval by commissioner - Hearing
Status: in_force

(a) The Insurance Commissioner shall approve any merger or other acquisition of control referred to in § 23-63-506 unless, after a public hearing thereon, he or she finds that: (1) After change of control, the domestic insurer referred to in § 23-63-506 would not be able to satisfy the requirements for the issuance of a license to write the line or lines of insurance for which it is presently licensed; (2) The effect of the merger or other acquisition of control would be substantially to lessen competition in insurance in this state or tend to create a monopoly therein; (3) The financial condition of any acquiring party is such as might jeopardize the financial stability of the insurer or prejudice the interest of its policyholders or the interests of any remaining security holders who are unaffiliated with the acquiring party; (4) The terms of the offer, request, invitation, agreement, or acquisition referred to in § 23-63-506 are unfair and unreasonable to the security holders of the insurer; (5) The plans or proposals which the acquiring party has to liquidate the insurer, sell its assets, or consolidate or merge it with any person, or to make any other material change in its business or corporate structure or management are unfair and unreasonable to policyholders of the insurer and not in the public interest; or (6) The competence, experience, and integrity of those persons who would control the operation of the insurer are such that it would not be in the interest of policyholders of the insurer and of the public to permit the merger or other acquisition of control. (b) (1) The public hearing referred to in subsection (a) of this section shall be held within thirty (30) days after the statement required by § 23-63-506 is filed, and at least twenty (20) days' notice of the hearing shall be given by the commissioner to the person filing the statement. (2) Not less than seven (7) days' notice of the public hearing shall be given by the person filing the statement to the insurer and to the other persons as may be designated by the commissioner. (3) (A) The commissioner shall make a determination within the sixty-day period preceding the effective date of the proposed transaction. (B) In connection with the change in control of the insurer, any determination by the commissioner that the person acquiring control of a domestic insurer shall be required to maintain or restore the capital of the insurer to the level required by the laws and rules of this state shall be made not later than sixty (60) calendar days after the date of notification of the change in control submitted pursuant to § 23-63-506(b) . (4) At the hearing, the person filing the statement, the insurer, any person to whom notice of hearing was sent, and any other person whose interests may be affected thereby shall have the right to present evidence, examine, and cross-examine witnesses, and offer oral and written arguments and, in connection therewith, shall be entitled to conduct discovery proceedings in the same manner as is presently allowed in the courts of this state. (5) All discovery proceedings shall be concluded not later than three (3) days prior to the commencement of the public hearing. Amended by Act 2019, No. 315,§ 2628, eff. 7/24/2019. Acts 1971, No. 288, § 5; A.S.A. 1947, § 66-5005; Acts 1993, No. 901, § 10; 2001, No. 1604, § 34.

(a) The Insurance Commissioner shall approve any merger or other acquisition of control referred to in § 23-63-506 unless, after a public hearing thereon, he or she finds that: (1) After change of control, the domestic insurer referred to in § 23-63-506 would not be able to satisfy the requirements for the issuance of a license to write the line or lines of insurance for which it is presently licensed; (2) The effect of the merger or other acquisition of control would be substantially to lessen competition in insurance in this state or tend to create a monopoly therein; (3) The financial condition of any acquiring party is such as might jeopardize the financial stability of the insurer or prejudice the interest of its policyholders or the interests of any remaining security holders who are unaffiliated with the acquiring party; (4) The terms of the offer, request, invitation, agreement, or acquisition referred to in § 23-63-506 are unfair and unreasonable to the security holders of the insurer; (5) The plans or proposals which the acquiring party has to liquidate the insurer, sell its assets, or consolidate or merge it with any person, or to make any other material change in its business or corporate structure or management are unfair and unreasonable to policyholders of the insurer and not in the public interest; or (6) The competence, experience, and integrity of those persons who would control the operation of the insurer are such that it would not be in the interest of policyholders of the insurer and of the public to permit the merger or other acquisition of control.

(1) After change of control, the domestic insurer referred to in § 23-63-506 would not be able to satisfy the requirements for the issuance of a license to write the line or lines of insurance for which it is presently licensed;

(2) The effect of the merger or other acquisition of control would be substantially to lessen competition in insurance in this state or tend to create a monopoly therein;

(3) The financial condition of any acquiring party is such as might jeopardize the financial stability of the insurer or prejudice the interest of its policyholders or the interests of any remaining security holders who are unaffiliated with the acquiring party;

(4) The terms of the offer, request, invitation, agreement, or acquisition referred to in § 23-63-506 are unfair and unreasonable to the security holders of the insurer;

(5) The plans or proposals which the acquiring party has to liquidate the insurer, sell its assets, or consolidate or merge it with any person, or to make any other material change in its business or corporate structure or management are unfair and unreasonable to policyholders of the insurer and not in the public interest; or

(6) The competence, experience, and integrity of those persons who would control the operation of the insurer are such that it would not be in the interest of policyholders of the insurer and of the public to permit the merger or other acquisition of control.

(b) (1) The public hearing referred to in subsection (a) of this section shall be held within thirty (30) days after the statement required by § 23-63-506 is filed, and at least twenty (20) days' notice of the hearing shall be given by the commissioner to the person filing the statement. (2) Not less than seven (7) days' notice of the public hearing shall be given by the person filing the statement to the insurer and to the other persons as may be designated by the commissioner. (3) (A) The commissioner shall make a determination within the sixty-day period preceding the effective date of the proposed transaction. (B) In connection with the change in control of the insurer, any determination by the commissioner that the person acquiring control of a domestic insurer shall be required to maintain or restore the capital of the insurer to the level required by the laws and rules of this state shall be made not later than sixty (60) calendar days after the date of notification of the change in control submitted pursuant to § 23-63-506(b) . (4) At the hearing, the person filing the statement, the insurer, any person to whom notice of hearing was sent, and any other person whose interests may be affected thereby shall have the right to present evidence, examine, and cross-examine witnesses, and offer oral and written arguments and, in connection therewith, shall be entitled to conduct discovery proceedings in the same manner as is presently allowed in the courts of this state. (5) All discovery proceedings shall be concluded not later than three (3) days prior to the commencement of the public hearing.

(1) The public hearing referred to in subsection (a) of this section shall be held within thirty (30) days after the statement required by § 23-63-506 is filed, and at least twenty (20) days' notice of the hearing shall be given by the commissioner to the person filing the statement.

(2) Not less than seven (7) days' notice of the public hearing shall be given by the person filing the statement to the insurer and to the other persons as may be designated by the commissioner.

(3) (A) The commissioner shall make a determination within the sixty-day period preceding the effective date of the proposed transaction. (B) In connection with the change in control of the insurer, any determination by the commissioner that the person acquiring control of a domestic insurer shall be required to maintain or restore the capital of the insurer to the level required by the laws and rules of this state shall be made not later than sixty (60) calendar days after the date of notification of the change in control submitted pursuant to § 23-63-506(b) .

(A) The commissioner shall make a determination within the sixty-day period preceding the effective date of the proposed transaction.

(B) In connection with the change in control of the insurer, any determination by the commissioner that the person acquiring control of a domestic insurer shall be required to maintain or restore the capital of the insurer to the level required by the laws and rules of this state shall be made not later than sixty (60) calendar days after the date of notification of the change in control submitted pursuant to § 23-63-506(b) .

(4) At the hearing, the person filing the statement, the insurer, any person to whom notice of hearing was sent, and any other person whose interests may be affected thereby shall have the right to present evidence, examine, and cross-examine witnesses, and offer oral and written arguments and, in connection therewith, shall be entitled to conduct discovery proceedings in the same manner as is presently allowed in the courts of this state.

(5) All discovery proceedings shall be concluded not later than three (3) days prior to the commencement of the public hearing.

Amended by Act 2019, No. 315,§ 2628, eff. 7/24/2019.

Acts 1971, No. 288, § 5; A.S.A. 1947, § 66-5005; Acts 1993, No. 901, § 10; 2001, No. 1604, § 34.
Ark. Code Ann. § 23-67-305 — AR Code / Title 23 / Chapter 67 / Subchapter 3 / Section 23-67-305
Mandatory participation in Arkansas Workers' Compensation Insurance Plan
Status: in_force

(a) All insurers licensed to transact workers' compensation and employers' liability insurance in this state, as defined in § 23-62-105(a)(3) and who have qualified to transact workers' compensation insurance pursuant to § 11-9-302(a) shall participate in the equitable apportionment among them of risks eligible for the Arkansas Workers' Compensation Insurance Plan. (b) Participation in the plan expenses, profits, and losses shall be in the proportion that the net direct workers' compensation insurance premiums of each member written in this state during the preceding calendar year bears to the aggregate net direct workers' compensation insurance premiums of all members of the plan written in this state during the preceding calendar year. Acts 1991, No. 561, § 1.

(a) All insurers licensed to transact workers' compensation and employers' liability insurance in this state, as defined in § 23-62-105(a)(3) and who have qualified to transact workers' compensation insurance pursuant to § 11-9-302(a) shall participate in the equitable apportionment among them of risks eligible for the Arkansas Workers' Compensation Insurance Plan.

(b) Participation in the plan expenses, profits, and losses shall be in the proportion that the net direct workers' compensation insurance premiums of each member written in this state during the preceding calendar year bears to the aggregate net direct workers' compensation insurance premiums of all members of the plan written in this state during the preceding calendar year.

Acts 1991, No. 561, § 1.