Ark. Code Ann. § 23-94-205 — AR Code / Title 23 / Chapter 94 / Subchapter 2 / Section 23-94-205
Foreign risk retention groups
Status: in_force

Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention group in this state must apply for and obtain a certificate of registration from the commissioner using the forms prescribed by the State Insurance Department. The commissioner shall issue a certificate of registration to risk retention groups chartered and licensed under the laws of other states when the commissioner is satisfied that the applicant groups have complied with the provisions of this subchapter. No risk retention group chartered and licensed in states other than this state shall transact business in this state unless so authorized by a subsisting certificate of registration issued by the commissioner. Each such group shall comply with the laws of this state as follows: (1) Notice of Operations and Designation of Commissioner as Agent. (A) Before offering insurance in this state, a risk retention group shall submit to the commissioner on a form prescribed by the National Association of Insurance Commissioners: (i) A statement identifying the state or states in which the risk retention group is chartered and licensed as a liability insurance company, charter date, its principal place of business, and such other information, including information on its membership, as the commissioner may require to verify that the risk retention group is qualified under § 23-94-203(12) ; and (ii) A copy of its plan of operation or feasibility study and revisions of the plan of operation or feasibility study submitted to the state in which the risk retention group is chartered and licensed, provided, however, that the provision relating to the submission of a plan of operation or feasibility study shall not apply with respect to any line or classification of liability insurance which: (a) Was defined in the Product Liability Risk Retention Act of 1981 before October 27, 1986; and (b) Was offered before that date by any risk retention group which had been chartered and operating for not less than three (3) years before that date; and (B) The risk retention group shall submit a copy of any revision to its plan of operation or feasibility study required pursuant to § 23-94-204(b) at the same time that such revision is submitted to the commissioner of its chartering state. (C) The risk retention group shall submit a statement of registration, for which a filing fee shall be determined by the commissioner, which designates the commissioner as its agent for the purpose of receiving service of legal documents or process. (2) Financial Condition. Any risk retention group doing business in this state shall submit to the commissioner annually on or before March 1, or within any extension of time therefor which the commissioner for good cause may have granted, an annual statement in a form prescribed by the National Association of Insurance Commissioners and completed in accordance with the instructions and the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual. Additional information that must be submitted to the commissioner by the risk retention group doing business in this state shall include all of the following: (A) A copy of the risk retention group's financial statement submitted to the state in which the risk retention group is chartered and licensed which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners; (B) A copy of each examination of the risk retention group as certified by the commissioner or public official conducting the examination; (C) Upon request by the commissioner, a copy of any information or document pertaining to any outside audit performed with respect to the risk retention group; and (D) Such information as may be required to verify its continuing qualification as a risk retention group under § 23-94-203(12) . (3) (A) Agent and Broker Records. To the extent that insurance agents or brokers are utilized under § 23-94-213 , the insurance agent or broker shall report to the commissioner the premiums for direct business written for risks resident or located within this state that the licensees have placed with or on behalf of a risk retention group that is not chartered in this state. (B) Agents and brokers utilized under § 23-94-213 shall keep a complete and separate record of all policies procured from each such risk retention group, which record shall be open to examination by the commissioner. (C) These records shall, for each policy and each kind of insurance provided thereunder, include the following: (i) The limit of liability; (ii) The time period covered; (iii) The effective date; (iv) The name of the risk retention group which issued the policy; (v) The gross premium charged; and (vi) The amount of return premiums, if any. (4) Compliance with Trade Practices Act. Any risk retention group, its agents, and its representatives shall comply with the provisions of the Trade Practices Act, § 23-66-201 et seq., and other pertinent provisions of the Arkansas Insurance Code. Any risk retention group, its agents, and its representatives shall comply with the provisions of the claims settlement practices in § 23-66-206(9) and (10) and other pertinent provisions of the Arkansas Insurance Code. Any risk retention group shall comply with the provisions of Arkansas law regarding deceptive, false, or fraudulent acts or practices. If the commissioner seeks an injunction regarding deceptive, false, or fraudulent conduct, the injunction must be from a court of competent jurisdiction. (5) Examination Regarding Financial Condition. Any risk retention group must submit to an examination by the commissioner to determine its financial condition if the commissioner of the jurisdiction in which the risk retention group is chartered and licensed has not initiated an examination or does not initiate an examination within sixty (60) days after a request by the commissioner of this state. Any such examination shall be coordinated to avoid unjustified repetition and conducted in an expeditious manner and in accordance with the most current edition of the National Association of Insurance Commissioners' Financial Condition Examiners Handbook. (6) Notice to Purchasers. Every application form for insurance from a risk retention group, and every policy on its front and declaration pages issued by a risk retention group, shall contain in 10-point type the following notice: Click here to view form. (7) Prohibited Acts Regarding Solicitation or Sale. The following acts by a risk retention group are hereby prohibited: (A) The solicitation or sale of insurance by a risk retention group to any person who is not eligible for membership in the risk retention group; and (B) The solicitation or sale of insurance by, or operation of, a risk retention group that is in hazardous financial condition or financially impaired. (8) Prohibition on Ownership by an Insurance Company. No risk retention group shall be allowed to do business in this state if an insurance company is directly or indirectly a member or owner of such risk retention group, other than in the case of a risk retention group all of whose members are insurance companies. (9) Prohibited Coverage. The terms of any insurance policy issued by any risk retention group shall not provide, or be construed to provide, coverage prohibited generally by statute of this state or declared unlawful by the highest court of this state whose law applies to such policy. (10) Delinquency Proceedings. A risk retention group not chartered in this state and doing business in this state shall comply with a lawful order issued in a voluntary dissolution proceeding or in a delinquency proceeding commenced by a state insurance commissioner if there has been a finding of financial impairment after an examination under subdivision (5) of this section. (11) Penalties. A risk retention group that violates any provision of this subchapter will be subject to fines and penalties, including revocation of its right to do business in this state, applicable to licensed insurers generally. (12) Operation Prior to Enactment of This Subchapter. In addition to complying with the requirements of this section, any risk retention group operating in this state prior to March 14, 1995, shall, within thirty (30) days after March 14, 1995, comply with the provisions of subdivision (1)(A) of this section. Amended by Act 2017, No. 283,§ 20, eff. 8/1/2017. Acts 1995, No. 623, § 1.

Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention group in this state must apply for and obtain a certificate of registration from the commissioner using the forms prescribed by the State Insurance Department. The commissioner shall issue a certificate of registration to risk retention groups chartered and licensed under the laws of other states when the commissioner is satisfied that the applicant groups have complied with the provisions of this subchapter. No risk retention group chartered and licensed in states other than this state shall transact business in this state unless so authorized by a subsisting certificate of registration issued by the commissioner. Each such group shall comply with the laws of this state as follows:

(1) Notice of Operations and Designation of Commissioner as Agent. (A) Before offering insurance in this state, a risk retention group shall submit to the commissioner on a form prescribed by the National Association of Insurance Commissioners: (i) A statement identifying the state or states in which the risk retention group is chartered and licensed as a liability insurance company, charter date, its principal place of business, and such other information, including information on its membership, as the commissioner may require to verify that the risk retention group is qualified under § 23-94-203(12) ; and (ii) A copy of its plan of operation or feasibility study and revisions of the plan of operation or feasibility study submitted to the state in which the risk retention group is chartered and licensed, provided, however, that the provision relating to the submission of a plan of operation or feasibility study shall not apply with respect to any line or classification of liability insurance which: (a) Was defined in the Product Liability Risk Retention Act of 1981 before October 27, 1986; and (b) Was offered before that date by any risk retention group which had been chartered and operating for not less than three (3) years before that date; and (B) The risk retention group shall submit a copy of any revision to its plan of operation or feasibility study required pursuant to § 23-94-204(b) at the same time that such revision is submitted to the commissioner of its chartering state. (C) The risk retention group shall submit a statement of registration, for which a filing fee shall be determined by the commissioner, which designates the commissioner as its agent for the purpose of receiving service of legal documents or process.

(A) Before offering insurance in this state, a risk retention group shall submit to the commissioner on a form prescribed by the National Association of Insurance Commissioners: (i) A statement identifying the state or states in which the risk retention group is chartered and licensed as a liability insurance company, charter date, its principal place of business, and such other information, including information on its membership, as the commissioner may require to verify that the risk retention group is qualified under § 23-94-203(12) ; and (ii) A copy of its plan of operation or feasibility study and revisions of the plan of operation or feasibility study submitted to the state in which the risk retention group is chartered and licensed, provided, however, that the provision relating to the submission of a plan of operation or feasibility study shall not apply with respect to any line or classification of liability insurance which: (a) Was defined in the Product Liability Risk Retention Act of 1981 before October 27, 1986; and (b) Was offered before that date by any risk retention group which had been chartered and operating for not less than three (3) years before that date; and

(i) A statement identifying the state or states in which the risk retention group is chartered and licensed as a liability insurance company, charter date, its principal place of business, and such other information, including information on its membership, as the commissioner may require to verify that the risk retention group is qualified under § 23-94-203(12) ; and

(ii) A copy of its plan of operation or feasibility study and revisions of the plan of operation or feasibility study submitted to the state in which the risk retention group is chartered and licensed, provided, however, that the provision relating to the submission of a plan of operation or feasibility study shall not apply with respect to any line or classification of liability insurance which: (a) Was defined in the Product Liability Risk Retention Act of 1981 before October 27, 1986; and (b) Was offered before that date by any risk retention group which had been chartered and operating for not less than three (3) years before that date; and

(a) Was defined in the Product Liability Risk Retention Act of 1981 before October 27, 1986; and

(b) Was offered before that date by any risk retention group which had been chartered and operating for not less than three (3) years before that date; and

(B) The risk retention group shall submit a copy of any revision to its plan of operation or feasibility study required pursuant to § 23-94-204(b) at the same time that such revision is submitted to the commissioner of its chartering state.

(C) The risk retention group shall submit a statement of registration, for which a filing fee shall be determined by the commissioner, which designates the commissioner as its agent for the purpose of receiving service of legal documents or process.

(2) Financial Condition. Any risk retention group doing business in this state shall submit to the commissioner annually on or before March 1, or within any extension of time therefor which the commissioner for good cause may have granted, an annual statement in a form prescribed by the National Association of Insurance Commissioners and completed in accordance with the instructions and the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual. Additional information that must be submitted to the commissioner by the risk retention group doing business in this state shall include all of the following: (A) A copy of the risk retention group's financial statement submitted to the state in which the risk retention group is chartered and licensed which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners; (B) A copy of each examination of the risk retention group as certified by the commissioner or public official conducting the examination; (C) Upon request by the commissioner, a copy of any information or document pertaining to any outside audit performed with respect to the risk retention group; and (D) Such information as may be required to verify its continuing qualification as a risk retention group under § 23-94-203(12) .

(A) A copy of the risk retention group's financial statement submitted to the state in which the risk retention group is chartered and licensed which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners;

(B) A copy of each examination of the risk retention group as certified by the commissioner or public official conducting the examination;

(C) Upon request by the commissioner, a copy of any information or document pertaining to any outside audit performed with respect to the risk retention group; and

(D) Such information as may be required to verify its continuing qualification as a risk retention group under § 23-94-203(12) .

(3) (A) Agent and Broker Records. To the extent that insurance agents or brokers are utilized under § 23-94-213 , the insurance agent or broker shall report to the commissioner the premiums for direct business written for risks resident or located within this state that the licensees have placed with or on behalf of a risk retention group that is not chartered in this state. (B) Agents and brokers utilized under § 23-94-213 shall keep a complete and separate record of all policies procured from each such risk retention group, which record shall be open to examination by the commissioner. (C) These records shall, for each policy and each kind of insurance provided thereunder, include the following: (i) The limit of liability; (ii) The time period covered; (iii) The effective date; (iv) The name of the risk retention group which issued the policy; (v) The gross premium charged; and (vi) The amount of return premiums, if any.

(A) Agent and Broker Records. To the extent that insurance agents or brokers are utilized under § 23-94-213 , the insurance agent or broker shall report to the commissioner the premiums for direct business written for risks resident or located within this state that the licensees have placed with or on behalf of a risk retention group that is not chartered in this state.

(B) Agents and brokers utilized under § 23-94-213 shall keep a complete and separate record of all policies procured from each such risk retention group, which record shall be open to examination by the commissioner.

(C) These records shall, for each policy and each kind of insurance provided thereunder, include the following: (i) The limit of liability; (ii) The time period covered; (iii) The effective date; (iv) The name of the risk retention group which issued the policy; (v) The gross premium charged; and (vi) The amount of return premiums, if any.

(i) The limit of liability;

(ii) The time period covered;

(iii) The effective date;

(iv) The name of the risk retention group which issued the policy;

(v) The gross premium charged; and

(vi) The amount of return premiums, if any.

(4) Compliance with Trade Practices Act. Any risk retention group, its agents, and its representatives shall comply with the provisions of the Trade Practices Act, § 23-66-201 et seq., and other pertinent provisions of the Arkansas Insurance Code. Any risk retention group, its agents, and its representatives shall comply with the provisions of the claims settlement practices in § 23-66-206(9) and (10) and other pertinent provisions of the Arkansas Insurance Code. Any risk retention group shall comply with the provisions of Arkansas law regarding deceptive, false, or fraudulent acts or practices. If the commissioner seeks an injunction regarding deceptive, false, or fraudulent conduct, the injunction must be from a court of competent jurisdiction.

(5) Examination Regarding Financial Condition. Any risk retention group must submit to an examination by the commissioner to determine its financial condition if the commissioner of the jurisdiction in which the risk retention group is chartered and licensed has not initiated an examination or does not initiate an examination within sixty (60) days after a request by the commissioner of this state. Any such examination shall be coordinated to avoid unjustified repetition and conducted in an expeditious manner and in accordance with the most current edition of the National Association of Insurance Commissioners' Financial Condition Examiners Handbook.

(6) Notice to Purchasers. Every application form for insurance from a risk retention group, and every policy on its front and declaration pages issued by a risk retention group, shall contain in 10-point type the following notice: Click here to view form.

Click here to view form.

(7) Prohibited Acts Regarding Solicitation or Sale. The following acts by a risk retention group are hereby prohibited: (A) The solicitation or sale of insurance by a risk retention group to any person who is not eligible for membership in the risk retention group; and (B) The solicitation or sale of insurance by, or operation of, a risk retention group that is in hazardous financial condition or financially impaired.

(A) The solicitation or sale of insurance by a risk retention group to any person who is not eligible for membership in the risk retention group; and

(B) The solicitation or sale of insurance by, or operation of, a risk retention group that is in hazardous financial condition or financially impaired.

(8) Prohibition on Ownership by an Insurance Company. No risk retention group shall be allowed to do business in this state if an insurance company is directly or indirectly a member or owner of such risk retention group, other than in the case of a risk retention group all of whose members are insurance companies.

(9) Prohibited Coverage. The terms of any insurance policy issued by any risk retention group shall not provide, or be construed to provide, coverage prohibited generally by statute of this state or declared unlawful by the highest court of this state whose law applies to such policy.

(10) Delinquency Proceedings. A risk retention group not chartered in this state and doing business in this state shall comply with a lawful order issued in a voluntary dissolution proceeding or in a delinquency proceeding commenced by a state insurance commissioner if there has been a finding of financial impairment after an examination under subdivision (5) of this section.

(11) Penalties. A risk retention group that violates any provision of this subchapter will be subject to fines and penalties, including revocation of its right to do business in this state, applicable to licensed insurers generally.

(12) Operation Prior to Enactment of This Subchapter. In addition to complying with the requirements of this section, any risk retention group operating in this state prior to March 14, 1995, shall, within thirty (30) days after March 14, 1995, comply with the provisions of subdivision (1)(A) of this section.

Amended by Act 2017, No. 283,§ 20, eff. 8/1/2017.

Acts 1995, No. 623, § 1.

94_205_1 - Attachment
Ark. Code Ann. § 23-70-121 — AR Code / Title 23 / Chapter 70 / Section 23-70-121
Distribution of savings
Status: in_force

(a) A reciprocal insurer may return to its subscribers from time to time any unused premiums, savings, or credits accruing to their accounts. (b) Any distribution shall not unfairly discriminate between classes of risks, or policies, or between subscribers, but the distribution may vary as to classes of subscribers based upon the experience of those subscribers. Acts 1959, No. 148, § 536; A.S.A. 1947, § 66-4327.

(a) A reciprocal insurer may return to its subscribers from time to time any unused premiums, savings, or credits accruing to their accounts.

(b) Any distribution shall not unfairly discriminate between classes of risks, or policies, or between subscribers, but the distribution may vary as to classes of subscribers based upon the experience of those subscribers.

Acts 1959, No. 148, § 536; A.S.A. 1947, § 66-4327.
Ark. Code Ann. § 23-60-109 — AR Code / Title 23 / Chapter 60 / Section 23-60-109
Penalty for false or misleading statements
Status: in_force

Any person who files any statement, application, form, or other document required to be filed by the Arkansas Insurance Code knowing the statement or information contained in the document to be false or misleading in any material respect shall be guilty of a Class D felony. Acts 1973, No. 66, § 1; A.S.A. 1947, § 66-2016; Acts 2005, No. 1994, § 435.

Any person who files any statement, application, form, or other document required to be filed by the Arkansas Insurance Code knowing the statement or information contained in the document to be false or misleading in any material respect shall be guilty of a Class D felony.

Acts 1973, No. 66, § 1; A.S.A. 1947, § 66-2016; Acts 2005, No. 1994, § 435.
Ark. Code Ann. § 23-39-510 — AR Code / Title 23 / Chapter 39 / Subchapter 5 / Section 23-39-510
Licensee duties
Status: in_force

(a) In addition to duties imposed by other statutory or common law, a person required to be licensed under this subchapter shall: (1) Safeguard and account for any money received for, from, or on behalf of the borrower; (2) Follow reasonable and lawful instructions from the borrower; (3) Act with reasonable skill, care, and diligence; (4) Make reasonable efforts with lenders with whom a mortgage broker regularly does business to secure a loan that is reasonably advantageous to the borrower considering all the circumstances, including the rates, charges, and repayment terms of the loan and the loan options for which the borrower qualifies with such lenders; (5) Include the full name, address, and telephone number of the licensee in all solicitations and advertisements; and (6) (A) Provide the Securities Commissioner with a quarterly report of mortgage activity. (B) The commissioner may designate by rule or order the information to be provided in the quarterly report. (b) At the time a mortgage servicer accepts assignment of servicing rights for a mortgage loan in this state, the mortgage servicer shall disclose to the borrower the following: (1) Any notice required by the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. § 2601 et seq., as it existed on January 1, 2017, or by regulations promulgated thereunder; and (2) A notice in a clear and conspicuous form and content that the mortgage servicer is licensed in Arkansas and that complaints about the mortgage servicer may be submitted to the commissioner. (c) The unique identifier of a person soliciting or originating a mortgage loan shall be clearly shown on all mortgage loan application forms, solicitations, advertisements, business cards, websites, and any other document or medium established by rule or order of the commissioner. (d) (1) A mortgage broker, mortgage banker, or mortgage servicer licensed or required to be licensed under this subchapter shall establish, implement, update, and enforce written physical security and cybersecurity policies and procedures reasonably designed to ensure the confidentiality, integrity, and availability of physical and electronic records and information. (2) A policy or procedure described in subdivision (d)(1) of this section shall be tailored to the size and sophistication of the mortgage broker, mortgage banker, or mortgage servicer. (3) The commissioner may impose additional conditions by rule or order to clarify the requirements of a policy or procedure described in subdivision (d)(1) of this section. (e) A mortgage broker, mortgage banker, or mortgage servicer shall establish, enforce, and maintain policies and procedures reasonably designed to achieve compliance with this subchapter and any other state law or rule or federal law or regulation that is applicable to any business the licensee is authorized to conduct in this state. Amended by Act 2021, No. 531,§ 11, eff. 7/28/2021. Amended by Act 2017, No. 669,§ 4, eff. 8/1/2017. Acts 2003, No. 554, § 1; 2009, No. 731, § 21; 2011, No. 894, § 12.

(a) In addition to duties imposed by other statutory or common law, a person required to be licensed under this subchapter shall: (1) Safeguard and account for any money received for, from, or on behalf of the borrower; (2) Follow reasonable and lawful instructions from the borrower; (3) Act with reasonable skill, care, and diligence; (4) Make reasonable efforts with lenders with whom a mortgage broker regularly does business to secure a loan that is reasonably advantageous to the borrower considering all the circumstances, including the rates, charges, and repayment terms of the loan and the loan options for which the borrower qualifies with such lenders; (5) Include the full name, address, and telephone number of the licensee in all solicitations and advertisements; and (6) (A) Provide the Securities Commissioner with a quarterly report of mortgage activity. (B) The commissioner may designate by rule or order the information to be provided in the quarterly report.

(1) Safeguard and account for any money received for, from, or on behalf of the borrower;

(2) Follow reasonable and lawful instructions from the borrower;

(3) Act with reasonable skill, care, and diligence;

(4) Make reasonable efforts with lenders with whom a mortgage broker regularly does business to secure a loan that is reasonably advantageous to the borrower considering all the circumstances, including the rates, charges, and repayment terms of the loan and the loan options for which the borrower qualifies with such lenders;

(5) Include the full name, address, and telephone number of the licensee in all solicitations and advertisements; and

(6) (A) Provide the Securities Commissioner with a quarterly report of mortgage activity. (B) The commissioner may designate by rule or order the information to be provided in the quarterly report.

(A) Provide the Securities Commissioner with a quarterly report of mortgage activity.

(B) The commissioner may designate by rule or order the information to be provided in the quarterly report.

(b) At the time a mortgage servicer accepts assignment of servicing rights for a mortgage loan in this state, the mortgage servicer shall disclose to the borrower the following: (1) Any notice required by the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. § 2601 et seq., as it existed on January 1, 2017, or by regulations promulgated thereunder; and (2) A notice in a clear and conspicuous form and content that the mortgage servicer is licensed in Arkansas and that complaints about the mortgage servicer may be submitted to the commissioner.

(1) Any notice required by the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. § 2601 et seq., as it existed on January 1, 2017, or by regulations promulgated thereunder; and

(2) A notice in a clear and conspicuous form and content that the mortgage servicer is licensed in Arkansas and that complaints about the mortgage servicer may be submitted to the commissioner.

(c) The unique identifier of a person soliciting or originating a mortgage loan shall be clearly shown on all mortgage loan application forms, solicitations, advertisements, business cards, websites, and any other document or medium established by rule or order of the commissioner.

(d) (1) A mortgage broker, mortgage banker, or mortgage servicer licensed or required to be licensed under this subchapter shall establish, implement, update, and enforce written physical security and cybersecurity policies and procedures reasonably designed to ensure the confidentiality, integrity, and availability of physical and electronic records and information. (2) A policy or procedure described in subdivision (d)(1) of this section shall be tailored to the size and sophistication of the mortgage broker, mortgage banker, or mortgage servicer. (3) The commissioner may impose additional conditions by rule or order to clarify the requirements of a policy or procedure described in subdivision (d)(1) of this section.

(1) A mortgage broker, mortgage banker, or mortgage servicer licensed or required to be licensed under this subchapter shall establish, implement, update, and enforce written physical security and cybersecurity policies and procedures reasonably designed to ensure the confidentiality, integrity, and availability of physical and electronic records and information.

(2) A policy or procedure described in subdivision (d)(1) of this section shall be tailored to the size and sophistication of the mortgage broker, mortgage banker, or mortgage servicer.

(3) The commissioner may impose additional conditions by rule or order to clarify the requirements of a policy or procedure described in subdivision (d)(1) of this section.

(e) A mortgage broker, mortgage banker, or mortgage servicer shall establish, enforce, and maintain policies and procedures reasonably designed to achieve compliance with this subchapter and any other state law or rule or federal law or regulation that is applicable to any business the licensee is authorized to conduct in this state.

Amended by Act 2021, No. 531,§ 11, eff. 7/28/2021.

Amended by Act 2017, No. 669,§ 4, eff. 8/1/2017.

Acts 2003, No. 554, § 1; 2009, No. 731, § 21; 2011, No. 894, § 12.
Ark. Code Ann. § 23-63-1304 — AR Code / Title 23 / Chapter 63 / Subchapter 13 / Section 23-63-1304
Company action level event
Status: in_force

(a) As used in this subchapter, "company action level event" means any of the following events: (1) The filing of an RBC report by an insurer that indicates: (A) The insurer's total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; (B) If a life or accident and health insurer or a fraternal benefit society, the life or accident and health insurer or the fraternal benefit society has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and has a negative trend; or (C) For the year ending December 31, 2011, and each year following, if a property and casualty insurer, the property and casualty insurer has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and triggers the trend test determined according to the trend test calculation included in the Property and Casualty RBC Instructions; (2) The notification by the Insurance Commissioner to the insurer of an adjusted RBC report that indicates an event in subdivision (a)(1) of this section, if the insurer does not challenge the adjusted RBC report under § 23-63-1308 ; or (3) If under § 23-63-1308 an insurer challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, the notification by the Insurance Commissioner to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge. (b) In the event of a company action level event, the insurer shall prepare and submit to the Insurance Commissioner an RBC plan that shall: (1) Identify the conditions that contribute to the company action level event; (2) Contain proposals of corrective actions that the insurer intends to take and would be expected to result in the elimination of the company action level event; (3) Provide projections of the insurer's financial results in the current year and at least the four (4) succeeding years, both in the absence of proposed corrective actions and giving effect to the proposed corrective actions, including projections of statutory operating income, net income, capital, and surplus. The projections for both new and renewal business may include separate projections for each major line of business and separately identify each significant income, expense, and benefit component; (4) Identify the key assumptions impacting the insurer's projections and the sensitivity of the projections to the assumptions; and (5) Identify the quality of and problems associated with the insurer's business, including without limitation its assets, anticipated business growth and associated surplus strain, extraordinary exposure to risk, mix of business, and use of reinsurance, if any, in each case. (c) The insurer shall submit the RBC plan: (1) Within forty-five (45) days after the company action level event; or (2) If the insurer challenges an adjusted RBC report under § 23-63-1308 , within forty-five (45) days after notification to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge. (d) Within sixty (60) days after the submission by an insurer of an RBC plan to the Insurance Commissioner, the Insurance Commissioner shall notify the insurer whether or not the RBC plan is implemented or is unsatisfactory in the judgment of the Insurance Commissioner. If the Insurance Commissioner determines the RBC plan is unsatisfactory, the notification to the insurer shall state the reasons for the determination and may state proposed revisions that shall make the RBC plan satisfactory in the judgment of the Insurance Commissioner. On notification from the Insurance Commissioner, the insurer shall prepare a revised RBC plan that may incorporate by reference revisions proposed by the Insurance Commissioner and shall submit the revised RBC plan to the Insurance Commissioner: (1) Within forty-five (45) days after the notification from the Insurance Commissioner; or (2) If the insurer challenges the notification from the Insurance Commissioner under § 23-63-1308 , within forty-five (45) days after a notification to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge. (e) In the event of a notification by the Insurance Commissioner to an insurer that the insurer's RBC plan or revised RBC plan is unsatisfactory, the Insurance Commissioner, subject to the insurer's right to a hearing under § 23-63-1308 , may specify in the notification that the notification constitutes a regulatory action level event. (f) Every domestic insurer that files an RBC plan or revised RBC plan with the Insurance Commissioner shall file a copy of the RBC plan or revised RBC plan with the insurance commissioner in a state in which the insurer may do business if: (1) The state has an RBC provision substantially similar to § 23-63-1309(a) ; and (2) The insurance commissioner of that state has notified the insurer of its request for the filing in writing, in which case the insurer shall file a copy of the RBC plan or revised RBC plan in that state by the later of: (A) Fifteen (15) days after the receipt of notice to file a copy of its RBC plan or revised RBC plan with the state; or (B) The date that the RBC plan or revised RBC plan is filed under subsections (c) and (d) of this section. Amended by Act 2015, No. 1223,§ 23, eff. 7/22/2015. Amended by Act 2013, No. 1133,§ 7, eff. 8/16/2013. Acts 1995, No. 622, § 1; 2001, No. 1603, § 14; 2011, No. 760, § 4.

(a) As used in this subchapter, "company action level event" means any of the following events: (1) The filing of an RBC report by an insurer that indicates: (A) The insurer's total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; (B) If a life or accident and health insurer or a fraternal benefit society, the life or accident and health insurer or the fraternal benefit society has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and has a negative trend; or (C) For the year ending December 31, 2011, and each year following, if a property and casualty insurer, the property and casualty insurer has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and triggers the trend test determined according to the trend test calculation included in the Property and Casualty RBC Instructions; (2) The notification by the Insurance Commissioner to the insurer of an adjusted RBC report that indicates an event in subdivision (a)(1) of this section, if the insurer does not challenge the adjusted RBC report under § 23-63-1308 ; or (3) If under § 23-63-1308 an insurer challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, the notification by the Insurance Commissioner to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge.

(1) The filing of an RBC report by an insurer that indicates: (A) The insurer's total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; (B) If a life or accident and health insurer or a fraternal benefit society, the life or accident and health insurer or the fraternal benefit society has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and has a negative trend; or (C) For the year ending December 31, 2011, and each year following, if a property and casualty insurer, the property and casualty insurer has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and triggers the trend test determined according to the trend test calculation included in the Property and Casualty RBC Instructions;

(A) The insurer's total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC;

(B) If a life or accident and health insurer or a fraternal benefit society, the life or accident and health insurer or the fraternal benefit society has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and has a negative trend; or

(C) For the year ending December 31, 2011, and each year following, if a property and casualty insurer, the property and casualty insurer has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and three (3) and triggers the trend test determined according to the trend test calculation included in the Property and Casualty RBC Instructions;

(2) The notification by the Insurance Commissioner to the insurer of an adjusted RBC report that indicates an event in subdivision (a)(1) of this section, if the insurer does not challenge the adjusted RBC report under § 23-63-1308 ; or

(3) If under § 23-63-1308 an insurer challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, the notification by the Insurance Commissioner to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge.

(b) In the event of a company action level event, the insurer shall prepare and submit to the Insurance Commissioner an RBC plan that shall: (1) Identify the conditions that contribute to the company action level event; (2) Contain proposals of corrective actions that the insurer intends to take and would be expected to result in the elimination of the company action level event; (3) Provide projections of the insurer's financial results in the current year and at least the four (4) succeeding years, both in the absence of proposed corrective actions and giving effect to the proposed corrective actions, including projections of statutory operating income, net income, capital, and surplus. The projections for both new and renewal business may include separate projections for each major line of business and separately identify each significant income, expense, and benefit component; (4) Identify the key assumptions impacting the insurer's projections and the sensitivity of the projections to the assumptions; and (5) Identify the quality of and problems associated with the insurer's business, including without limitation its assets, anticipated business growth and associated surplus strain, extraordinary exposure to risk, mix of business, and use of reinsurance, if any, in each case.

(1) Identify the conditions that contribute to the company action level event;

(2) Contain proposals of corrective actions that the insurer intends to take and would be expected to result in the elimination of the company action level event;

(3) Provide projections of the insurer's financial results in the current year and at least the four (4) succeeding years, both in the absence of proposed corrective actions and giving effect to the proposed corrective actions, including projections of statutory operating income, net income, capital, and surplus. The projections for both new and renewal business may include separate projections for each major line of business and separately identify each significant income, expense, and benefit component;

(4) Identify the key assumptions impacting the insurer's projections and the sensitivity of the projections to the assumptions; and

(5) Identify the quality of and problems associated with the insurer's business, including without limitation its assets, anticipated business growth and associated surplus strain, extraordinary exposure to risk, mix of business, and use of reinsurance, if any, in each case.

(c) The insurer shall submit the RBC plan: (1) Within forty-five (45) days after the company action level event; or (2) If the insurer challenges an adjusted RBC report under § 23-63-1308 , within forty-five (45) days after notification to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge.

(1) Within forty-five (45) days after the company action level event; or

(2) If the insurer challenges an adjusted RBC report under § 23-63-1308 , within forty-five (45) days after notification to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge.

(d) Within sixty (60) days after the submission by an insurer of an RBC plan to the Insurance Commissioner, the Insurance Commissioner shall notify the insurer whether or not the RBC plan is implemented or is unsatisfactory in the judgment of the Insurance Commissioner. If the Insurance Commissioner determines the RBC plan is unsatisfactory, the notification to the insurer shall state the reasons for the determination and may state proposed revisions that shall make the RBC plan satisfactory in the judgment of the Insurance Commissioner. On notification from the Insurance Commissioner, the insurer shall prepare a revised RBC plan that may incorporate by reference revisions proposed by the Insurance Commissioner and shall submit the revised RBC plan to the Insurance Commissioner: (1) Within forty-five (45) days after the notification from the Insurance Commissioner; or (2) If the insurer challenges the notification from the Insurance Commissioner under § 23-63-1308 , within forty-five (45) days after a notification to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge.

(1) Within forty-five (45) days after the notification from the Insurance Commissioner; or

(2) If the insurer challenges the notification from the Insurance Commissioner under § 23-63-1308 , within forty-five (45) days after a notification to the insurer that the Insurance Commissioner, after a hearing, has rejected the insurer's challenge.

(e) In the event of a notification by the Insurance Commissioner to an insurer that the insurer's RBC plan or revised RBC plan is unsatisfactory, the Insurance Commissioner, subject to the insurer's right to a hearing under § 23-63-1308 , may specify in the notification that the notification constitutes a regulatory action level event.

(f) Every domestic insurer that files an RBC plan or revised RBC plan with the Insurance Commissioner shall file a copy of the RBC plan or revised RBC plan with the insurance commissioner in a state in which the insurer may do business if: (1) The state has an RBC provision substantially similar to § 23-63-1309(a) ; and (2) The insurance commissioner of that state has notified the insurer of its request for the filing in writing, in which case the insurer shall file a copy of the RBC plan or revised RBC plan in that state by the later of: (A) Fifteen (15) days after the receipt of notice to file a copy of its RBC plan or revised RBC plan with the state; or (B) The date that the RBC plan or revised RBC plan is filed under subsections (c) and (d) of this section.

(1) The state has an RBC provision substantially similar to § 23-63-1309(a) ; and

(2) The insurance commissioner of that state has notified the insurer of its request for the filing in writing, in which case the insurer shall file a copy of the RBC plan or revised RBC plan in that state by the later of: (A) Fifteen (15) days after the receipt of notice to file a copy of its RBC plan or revised RBC plan with the state; or (B) The date that the RBC plan or revised RBC plan is filed under subsections (c) and (d) of this section.

(A) Fifteen (15) days after the receipt of notice to file a copy of its RBC plan or revised RBC plan with the state; or

(B) The date that the RBC plan or revised RBC plan is filed under subsections (c) and (d) of this section.

Amended by Act 2015, No. 1223,§ 23, eff. 7/22/2015.

Amended by Act 2013, No. 1133,§ 7, eff. 8/16/2013.

Acts 1995, No. 622, § 1; 2001, No. 1603, § 14; 2011, No. 760, § 4.
Ark. Code Ann. § 23-99-419 — AR Code / Title 23 / Chapter 99 / Subchapter 4 / Section 23-99-419
Gastric pacemakers
Status: in_force

(a) As used in this section: (1) "Gastric pacemaker" means a medical device that: (A) Uses an external programmer and implanted electrical leads to the stomach; and (B) Transmits low-frequency, high-energy electrical stimulation to the stomach to entrain and pace the gastric slow waves to treat gastroparesis; and (2) (A) "Gastroparesis" means a neuromuscular stomach disorder in which food empties from the stomach more slowly than normal. (B) In most people, undigested food moves from the stomach into the duodenum and small intestine within two (2) to four (4) hours after eating. (C) In contrast, a patient who has gastroparesis will retain a significant amount of food in his or her stomach hours after eating. (D) A patient with gastroparesis experiences a variety of upper gastrointestinal symptoms that prevents him or her from eating normally and that may lead to dehydration, weight loss, and eventually life-threatening electrolyte imbalances and malnutrition. (E) Moreover, delayed stomach emptying interferes with oral drug absorption and, in patients with diabetes mellitus, prevents effective control of blood glucose levels. (F) The Enterra Therapy for gastroparesis received humanitarian device exemption approval from the Food and Drug Administration in March 2000. (G) The humanitarian device exemption authorizes Medtronic to market Enterra Therapy for the treatment of chronic intractable, drug-refractory, nausea and vomiting secondary to gastroparesis of diabetic or idiopathic etiology. (H) The effectiveness of Enterra Therapy for this use has not been demonstrated. (I) Enterra Therapy may be used only in medical centers in which an institutional review board has approved use of the device. (J) (i) When the battery in a neurostimulator runs down, the physician will obtain prior authorization from the health insurance company and approval for a replacement surgery and then schedule a procedure. (ii) During the surgery, the physician will remove the neurostimulator and implant a new one. (iii) The implanted leads will also be checked to make sure they are working properly. (iv) If the leads are working properly, the new neurostimulator will be connected to the leads that are already in place. (v) If the leads are not working as they should be, they will also be replaced. (b) Except as provided under subsection (c) or subsection (d) of this section, a health benefit plan that is issued for delivery, delivered, renewed, or otherwise contracted for in this state shall provide coverage for gastric pacemakers. (c) Eligible charges and limits of or exclusions from coverage under subsection (b) of this section shall be based on medical necessity or the health benefit plan's coverage criteria for other medical services. (d) A health benefit plan may: (1) Require prior authorization for a gastric pacemaker in the same manner that prior authorization is required for any other covered benefit; and (2) Impose copayments, deductibles, or coinsurance amounts for a gastric pacemaker if the amounts are no greater than the copayments, deductibles, or coinsurance amounts that apply to other benefits under the health benefit plan. Acts 2011, No. 1042, § 1.

(a) As used in this section: (1) "Gastric pacemaker" means a medical device that: (A) Uses an external programmer and implanted electrical leads to the stomach; and (B) Transmits low-frequency, high-energy electrical stimulation to the stomach to entrain and pace the gastric slow waves to treat gastroparesis; and (2) (A) "Gastroparesis" means a neuromuscular stomach disorder in which food empties from the stomach more slowly than normal. (B) In most people, undigested food moves from the stomach into the duodenum and small intestine within two (2) to four (4) hours after eating. (C) In contrast, a patient who has gastroparesis will retain a significant amount of food in his or her stomach hours after eating. (D) A patient with gastroparesis experiences a variety of upper gastrointestinal symptoms that prevents him or her from eating normally and that may lead to dehydration, weight loss, and eventually life-threatening electrolyte imbalances and malnutrition. (E) Moreover, delayed stomach emptying interferes with oral drug absorption and, in patients with diabetes mellitus, prevents effective control of blood glucose levels. (F) The Enterra Therapy for gastroparesis received humanitarian device exemption approval from the Food and Drug Administration in March 2000. (G) The humanitarian device exemption authorizes Medtronic to market Enterra Therapy for the treatment of chronic intractable, drug-refractory, nausea and vomiting secondary to gastroparesis of diabetic or idiopathic etiology. (H) The effectiveness of Enterra Therapy for this use has not been demonstrated. (I) Enterra Therapy may be used only in medical centers in which an institutional review board has approved use of the device. (J) (i) When the battery in a neurostimulator runs down, the physician will obtain prior authorization from the health insurance company and approval for a replacement surgery and then schedule a procedure. (ii) During the surgery, the physician will remove the neurostimulator and implant a new one. (iii) The implanted leads will also be checked to make sure they are working properly. (iv) If the leads are working properly, the new neurostimulator will be connected to the leads that are already in place. (v) If the leads are not working as they should be, they will also be replaced.

(1) "Gastric pacemaker" means a medical device that: (A) Uses an external programmer and implanted electrical leads to the stomach; and (B) Transmits low-frequency, high-energy electrical stimulation to the stomach to entrain and pace the gastric slow waves to treat gastroparesis; and

(A) Uses an external programmer and implanted electrical leads to the stomach; and

(B) Transmits low-frequency, high-energy electrical stimulation to the stomach to entrain and pace the gastric slow waves to treat gastroparesis; and

(2) (A) "Gastroparesis" means a neuromuscular stomach disorder in which food empties from the stomach more slowly than normal. (B) In most people, undigested food moves from the stomach into the duodenum and small intestine within two (2) to four (4) hours after eating. (C) In contrast, a patient who has gastroparesis will retain a significant amount of food in his or her stomach hours after eating. (D) A patient with gastroparesis experiences a variety of upper gastrointestinal symptoms that prevents him or her from eating normally and that may lead to dehydration, weight loss, and eventually life-threatening electrolyte imbalances and malnutrition. (E) Moreover, delayed stomach emptying interferes with oral drug absorption and, in patients with diabetes mellitus, prevents effective control of blood glucose levels. (F) The Enterra Therapy for gastroparesis received humanitarian device exemption approval from the Food and Drug Administration in March 2000. (G) The humanitarian device exemption authorizes Medtronic to market Enterra Therapy for the treatment of chronic intractable, drug-refractory, nausea and vomiting secondary to gastroparesis of diabetic or idiopathic etiology. (H) The effectiveness of Enterra Therapy for this use has not been demonstrated. (I) Enterra Therapy may be used only in medical centers in which an institutional review board has approved use of the device. (J) (i) When the battery in a neurostimulator runs down, the physician will obtain prior authorization from the health insurance company and approval for a replacement surgery and then schedule a procedure. (ii) During the surgery, the physician will remove the neurostimulator and implant a new one. (iii) The implanted leads will also be checked to make sure they are working properly. (iv) If the leads are working properly, the new neurostimulator will be connected to the leads that are already in place. (v) If the leads are not working as they should be, they will also be replaced.

(A) "Gastroparesis" means a neuromuscular stomach disorder in which food empties from the stomach more slowly than normal.

(B) In most people, undigested food moves from the stomach into the duodenum and small intestine within two (2) to four (4) hours after eating.

(C) In contrast, a patient who has gastroparesis will retain a significant amount of food in his or her stomach hours after eating.

(D) A patient with gastroparesis experiences a variety of upper gastrointestinal symptoms that prevents him or her from eating normally and that may lead to dehydration, weight loss, and eventually life-threatening electrolyte imbalances and malnutrition.

(E) Moreover, delayed stomach emptying interferes with oral drug absorption and, in patients with diabetes mellitus, prevents effective control of blood glucose levels.

(F) The Enterra Therapy for gastroparesis received humanitarian device exemption approval from the Food and Drug Administration in March 2000.

(G) The humanitarian device exemption authorizes Medtronic to market Enterra Therapy for the treatment of chronic intractable, drug-refractory, nausea and vomiting secondary to gastroparesis of diabetic or idiopathic etiology.

(H) The effectiveness of Enterra Therapy for this use has not been demonstrated.

(I) Enterra Therapy may be used only in medical centers in which an institutional review board has approved use of the device.

(J) (i) When the battery in a neurostimulator runs down, the physician will obtain prior authorization from the health insurance company and approval for a replacement surgery and then schedule a procedure. (ii) During the surgery, the physician will remove the neurostimulator and implant a new one. (iii) The implanted leads will also be checked to make sure they are working properly. (iv) If the leads are working properly, the new neurostimulator will be connected to the leads that are already in place. (v) If the leads are not working as they should be, they will also be replaced.

(i) When the battery in a neurostimulator runs down, the physician will obtain prior authorization from the health insurance company and approval for a replacement surgery and then schedule a procedure.

(ii) During the surgery, the physician will remove the neurostimulator and implant a new one.

(iii) The implanted leads will also be checked to make sure they are working properly.

(iv) If the leads are working properly, the new neurostimulator will be connected to the leads that are already in place.

(v) If the leads are not working as they should be, they will also be replaced.

(b) Except as provided under subsection (c) or subsection (d) of this section, a health benefit plan that is issued for delivery, delivered, renewed, or otherwise contracted for in this state shall provide coverage for gastric pacemakers.

(c) Eligible charges and limits of or exclusions from coverage under subsection (b) of this section shall be based on medical necessity or the health benefit plan's coverage criteria for other medical services.

(d) A health benefit plan may: (1) Require prior authorization for a gastric pacemaker in the same manner that prior authorization is required for any other covered benefit; and (2) Impose copayments, deductibles, or coinsurance amounts for a gastric pacemaker if the amounts are no greater than the copayments, deductibles, or coinsurance amounts that apply to other benefits under the health benefit plan.

(1) Require prior authorization for a gastric pacemaker in the same manner that prior authorization is required for any other covered benefit; and

(2) Impose copayments, deductibles, or coinsurance amounts for a gastric pacemaker if the amounts are no greater than the copayments, deductibles, or coinsurance amounts that apply to other benefits under the health benefit plan.

Acts 2011, No. 1042, § 1.
Ark. Code Ann. § 23-19-209 — AR Code / Title 23 / Chapter 19 / Subchapter 2 / Section 23-19-209
Designation and use of channel capacity for public, educational, or governmental use - Definition
Status: in_force

(a) As used in this section, "public, education, and government access channels", also known as "PEG channels", means channels used for noncommercial local interest programming. (b) (1) A video service provider, on the date that it first provides video service to a subscriber in the service area of a political subdivision or within a reasonable time, shall: (A) Designate a sufficient amount of capacity on its video service network to allow PEG channels for noncommercial programming; and (B) Designate a sufficient amount of capacity on its network to allow up to three (3) PEG channels or channels equal in number to those that have been activated by an incumbent video service provider, if any, on the date that the video service provider first provides video service to a subscriber in a political subdivision, whichever is less. (2) (A) A political subdivision served by an incumbent video service provider that opts to provide service under a certificate of franchise authority issued under § 23-19-203 is entitled to PEG channels under this section. (B) If the political subdivision was not served by an incumbent video service provider, the video service provider shall provide one (1) PEG channel for the use of the political subdivision. (3) A political subdivision may waive its rights to a PEG channel. (c) (1) A video service provider is responsible for: (A) The transmission of the programming on each channel to subscribers; and (B) Providing one (1) point of connectivity to each PEG channel distribution point in the political subdivision to be served. (2) A video service provider may: (A) Provide PEG channels on a service tier subscribed to by more than fifty percent (50%) of a video service provider's subscribers; (B) Consolidate PEG channels to a single channel location; and (C) Provide PEG channels through an application on a menu or as a choice on an assigned channel. (3) A video service provider shall not: (A) Change a channel location assigned to a PEG channel without providing written notice to the affected political subdivision at least thirty (30) days before the date on which the change is to become effective; or (B) Be required to provide an institutional network or equivalent capacity on its video service network. (4) When technically and economically possible, a video service provider shall: (A) Use reasonable efforts to interconnect its video network to share PEG channel programming with other video service providers through direct cable, microwave link, satellite, or other reasonable method of connection; (B) Negotiate in good faith to provide interconnection of PEG channels; and (C) If requesting to interconnect its video network to share PEG channel programming with another video service provider, pay for the cost of the interconnection. (d) (1) The operation, production, and content of any programming aired on a PEG channel is solely the responsibility of the public, educational, and governmental agencies receiving the benefit of the capacity. (2) The entity producing the PEG channel programming and sending it to the video service provider shall ensure that transmissions, content, or programming to be sent to the video service provider is: (A) Provided in a manner that is capable of being accepted and sent by the video service provider over its video service network without alteration or change in the content or transmission signal; and (B) Compatible with the technology or protocol used by the video service provider to deliver its video service. (3) Governmental entities utilizing PEG channels shall make the programming available to video service providers providing service in the governmental entity's jurisdiction in a nondiscriminatory manner. (4) The governmental entity providing programming for use on a channel designated for public, education, and government access use may request a change of the point of connectivity but shall pay the video service provider for costs associated with the change of the point of connectivity. Added by Act 2013, No. 276,§ 2, eff. 3/6/2013.

(a) As used in this section, "public, education, and government access channels", also known as "PEG channels", means channels used for noncommercial local interest programming.

(b) (1) A video service provider, on the date that it first provides video service to a subscriber in the service area of a political subdivision or within a reasonable time, shall: (A) Designate a sufficient amount of capacity on its video service network to allow PEG channels for noncommercial programming; and (B) Designate a sufficient amount of capacity on its network to allow up to three (3) PEG channels or channels equal in number to those that have been activated by an incumbent video service provider, if any, on the date that the video service provider first provides video service to a subscriber in a political subdivision, whichever is less. (2) (A) A political subdivision served by an incumbent video service provider that opts to provide service under a certificate of franchise authority issued under § 23-19-203 is entitled to PEG channels under this section. (B) If the political subdivision was not served by an incumbent video service provider, the video service provider shall provide one (1) PEG channel for the use of the political subdivision. (3) A political subdivision may waive its rights to a PEG channel.

(1) A video service provider, on the date that it first provides video service to a subscriber in the service area of a political subdivision or within a reasonable time, shall: (A) Designate a sufficient amount of capacity on its video service network to allow PEG channels for noncommercial programming; and (B) Designate a sufficient amount of capacity on its network to allow up to three (3) PEG channels or channels equal in number to those that have been activated by an incumbent video service provider, if any, on the date that the video service provider first provides video service to a subscriber in a political subdivision, whichever is less.

(A) Designate a sufficient amount of capacity on its video service network to allow PEG channels for noncommercial programming; and

(B) Designate a sufficient amount of capacity on its network to allow up to three (3) PEG channels or channels equal in number to those that have been activated by an incumbent video service provider, if any, on the date that the video service provider first provides video service to a subscriber in a political subdivision, whichever is less.

(2) (A) A political subdivision served by an incumbent video service provider that opts to provide service under a certificate of franchise authority issued under § 23-19-203 is entitled to PEG channels under this section. (B) If the political subdivision was not served by an incumbent video service provider, the video service provider shall provide one (1) PEG channel for the use of the political subdivision.

(A) A political subdivision served by an incumbent video service provider that opts to provide service under a certificate of franchise authority issued under § 23-19-203 is entitled to PEG channels under this section.

(B) If the political subdivision was not served by an incumbent video service provider, the video service provider shall provide one (1) PEG channel for the use of the political subdivision.

(3) A political subdivision may waive its rights to a PEG channel.

(c) (1) A video service provider is responsible for: (A) The transmission of the programming on each channel to subscribers; and (B) Providing one (1) point of connectivity to each PEG channel distribution point in the political subdivision to be served. (2) A video service provider may: (A) Provide PEG channels on a service tier subscribed to by more than fifty percent (50%) of a video service provider's subscribers; (B) Consolidate PEG channels to a single channel location; and (C) Provide PEG channels through an application on a menu or as a choice on an assigned channel. (3) A video service provider shall not: (A) Change a channel location assigned to a PEG channel without providing written notice to the affected political subdivision at least thirty (30) days before the date on which the change is to become effective; or (B) Be required to provide an institutional network or equivalent capacity on its video service network. (4) When technically and economically possible, a video service provider shall: (A) Use reasonable efforts to interconnect its video network to share PEG channel programming with other video service providers through direct cable, microwave link, satellite, or other reasonable method of connection; (B) Negotiate in good faith to provide interconnection of PEG channels; and (C) If requesting to interconnect its video network to share PEG channel programming with another video service provider, pay for the cost of the interconnection.

(1) A video service provider is responsible for: (A) The transmission of the programming on each channel to subscribers; and (B) Providing one (1) point of connectivity to each PEG channel distribution point in the political subdivision to be served.

(A) The transmission of the programming on each channel to subscribers; and

(B) Providing one (1) point of connectivity to each PEG channel distribution point in the political subdivision to be served.

(2) A video service provider may: (A) Provide PEG channels on a service tier subscribed to by more than fifty percent (50%) of a video service provider's subscribers; (B) Consolidate PEG channels to a single channel location; and (C) Provide PEG channels through an application on a menu or as a choice on an assigned channel.

(A) Provide PEG channels on a service tier subscribed to by more than fifty percent (50%) of a video service provider's subscribers;

(B) Consolidate PEG channels to a single channel location; and

(C) Provide PEG channels through an application on a menu or as a choice on an assigned channel.

(3) A video service provider shall not: (A) Change a channel location assigned to a PEG channel without providing written notice to the affected political subdivision at least thirty (30) days before the date on which the change is to become effective; or (B) Be required to provide an institutional network or equivalent capacity on its video service network.

(A) Change a channel location assigned to a PEG channel without providing written notice to the affected political subdivision at least thirty (30) days before the date on which the change is to become effective; or

(B) Be required to provide an institutional network or equivalent capacity on its video service network.

(4) When technically and economically possible, a video service provider shall: (A) Use reasonable efforts to interconnect its video network to share PEG channel programming with other video service providers through direct cable, microwave link, satellite, or other reasonable method of connection; (B) Negotiate in good faith to provide interconnection of PEG channels; and (C) If requesting to interconnect its video network to share PEG channel programming with another video service provider, pay for the cost of the interconnection.

(A) Use reasonable efforts to interconnect its video network to share PEG channel programming with other video service providers through direct cable, microwave link, satellite, or other reasonable method of connection;

(B) Negotiate in good faith to provide interconnection of PEG channels; and

(C) If requesting to interconnect its video network to share PEG channel programming with another video service provider, pay for the cost of the interconnection.

(d) (1) The operation, production, and content of any programming aired on a PEG channel is solely the responsibility of the public, educational, and governmental agencies receiving the benefit of the capacity. (2) The entity producing the PEG channel programming and sending it to the video service provider shall ensure that transmissions, content, or programming to be sent to the video service provider is: (A) Provided in a manner that is capable of being accepted and sent by the video service provider over its video service network without alteration or change in the content or transmission signal; and (B) Compatible with the technology or protocol used by the video service provider to deliver its video service. (3) Governmental entities utilizing PEG channels shall make the programming available to video service providers providing service in the governmental entity's jurisdiction in a nondiscriminatory manner. (4) The governmental entity providing programming for use on a channel designated for public, education, and government access use may request a change of the point of connectivity but shall pay the video service provider for costs associated with the change of the point of connectivity.

(1) The operation, production, and content of any programming aired on a PEG channel is solely the responsibility of the public, educational, and governmental agencies receiving the benefit of the capacity.

(2) The entity producing the PEG channel programming and sending it to the video service provider shall ensure that transmissions, content, or programming to be sent to the video service provider is: (A) Provided in a manner that is capable of being accepted and sent by the video service provider over its video service network without alteration or change in the content or transmission signal; and (B) Compatible with the technology or protocol used by the video service provider to deliver its video service.

(A) Provided in a manner that is capable of being accepted and sent by the video service provider over its video service network without alteration or change in the content or transmission signal; and

(B) Compatible with the technology or protocol used by the video service provider to deliver its video service.

(3) Governmental entities utilizing PEG channels shall make the programming available to video service providers providing service in the governmental entity's jurisdiction in a nondiscriminatory manner.

(4) The governmental entity providing programming for use on a channel designated for public, education, and government access use may request a change of the point of connectivity but shall pay the video service provider for costs associated with the change of the point of connectivity.

Added by Act 2013, No. 276,§ 2, eff. 3/6/2013.
Ark. Code Ann. § 23-84-118 — AR Code / Title 23 / Chapter 84 / Section 23-84-118
Confidentiality - Definition
Status: in_force

(a) As used in this section, "confidential information" means: (1) A memorandum in support of an opinion submitted under § 23-84-112 and any other documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the Insurance Commissioner or any other person in connection with the memorandum; (2) (A) Except as provided in subdivision (a)(2)(B) of this section, all documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in the course of an examination under § 23-84-115(d) . (B) To the extent that an examination report or other material prepared in connection with an examination under § 23-61-201 et seq. is not held as private and confidential information under § 23-61-207 , an examination report or other material prepared in connection with an examination made under § 23-84-115(d) is not confidential information under this section; (3) A report, document, material, and other information developed by a company in support of or in connection with an annual certification by the company under § 23-84-116(b)(2) evaluating the effectiveness of the company's internal controls with respect to a principle-based valuation and any other document, material, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the report, document, material, and other information; (4) A principle-based valuation report developed under § 23-84-116(b)(3) and any other document, material, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the report; (5) Experience data, including a document, material, data, and other information submitted by a company under § 23-84-117 , and any other document, material, data, and other information, including without limitation all working papers and copies of working papers created or produced in connection with the experience data that are created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the experience data; and (6) Experience materials, including experience data under subdivision (a)(5) of this section, and any potentially company-identifying or personally identifiable information that is provided to or obtained by the commissioner and any other documents, materials, data, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the experience materials. (b) (1) (A) Except as provided in this section, a company's confidential information is confidential by law and privileged and shall not be subject to: (i) The Freedom of Information Act of 1967, § 25-19-101 et seq.; (ii) Subpoena; or (iii) Discovery or admissible in evidence in a private civil action. (B) However, the commissioner is authorized to use the confidential information in the furtherance of any regulatory or legal action brought against the company as a part of the commissioner's official duties. (2) The commissioner and any other person who received confidential information while acting under the authority of the commissioner shall not be permitted or required to testify in any private civil action concerning the confidential information. (3) (A) Except as provided in subdivision (b)(3)(B) of this section, in order to assist in the performance of the commissioner's duties, the commissioner may share confidential information: (i) With other state, federal, and international regulatory agencies and with the National Association of Insurance Commissioners and its affiliates and subsidiaries; (ii) In the case of confidential information specified in subdivision (a)(1) or subdivision (a)(4) of this section only, with the Actuarial Board for Counseling and Discipline or its successor upon request stating that the confidential information is required for the purpose of professional disciplinary proceedings; and (iii) With state, federal, and international law enforcement officials. (B) The commissioner shall not share confidential information with a recipient under subdivision (b)(3)(A)(i) or subdivision (b)(3)(A)(ii) of this section unless the recipient agrees and has the legal authority to agree to maintain the confidentiality and privileged status of the confidential information in the same manner and to the same extent as required of the commissioner. (4) The commissioner may receive documents, materials, data, and other information, including otherwise confidential and privileged documents, materials, data, or information, from the National Association of Insurance Commissioners and its affiliates and subsidiaries, from regulatory or law enforcement officials of other foreign or domestic jurisdictions, and from the Actuarial Board for Counseling and Discipline or its successor and shall maintain as confidential or privileged any document, material, data, or other information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material, or other information. (5) The commissioner may enter into agreements governing sharing and use of information consistent with this subsection. (6) A waiver of any applicable privilege or claim of confidentiality concerning confidential information shall not occur as a result of a disclosure of information to the commissioner under this section or as a result of sharing information authorized by this section. (7) A privilege established under the law of any state or jurisdiction that is substantially similar to the privilege established under this subsection shall be available and enforced in any administrative, civil, or criminal proceeding in this state. (8) This section applies to the employees, agents, consultants, and contractors of the National Association of Insurance Commissioners and a regulatory agency or law enforcement agency identified in this section. (c) Notwithstanding subsection (b) of this section, any confidential information of a company specified in subdivision (a)(1) or subdivision (a)(4) of this section: (1) May be subject to subpoena for the purpose of defending an action seeking damages from the appointed actuary submitting the related memorandum in support of an opinion submitted under § 23-84-112 or a principle-based valuation report developed under § 23-84-116(b)(3) based upon an action required of the appointed actuary by this chapter; (2) May otherwise be released by the commissioner with the written consent of the company; and (3) Is no longer confidential information protected by this section if any portion of a memorandum in support of an opinion submitted under § 23-84-112 or a principle-based valuation report developed under § 23-84-116(b)(3) is: (A) Cited by the company in its marketing; (B) Publicly volunteered to or before a governmental agency other than a state insurance department; or (C) Released by the company to the news media. Added by Act 2015, No. 1223,§ 45, eff. 7/22/2015.

(a) As used in this section, "confidential information" means: (1) A memorandum in support of an opinion submitted under § 23-84-112 and any other documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the Insurance Commissioner or any other person in connection with the memorandum; (2) (A) Except as provided in subdivision (a)(2)(B) of this section, all documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in the course of an examination under § 23-84-115(d) . (B) To the extent that an examination report or other material prepared in connection with an examination under § 23-61-201 et seq. is not held as private and confidential information under § 23-61-207 , an examination report or other material prepared in connection with an examination made under § 23-84-115(d) is not confidential information under this section; (3) A report, document, material, and other information developed by a company in support of or in connection with an annual certification by the company under § 23-84-116(b)(2) evaluating the effectiveness of the company's internal controls with respect to a principle-based valuation and any other document, material, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the report, document, material, and other information; (4) A principle-based valuation report developed under § 23-84-116(b)(3) and any other document, material, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the report; (5) Experience data, including a document, material, data, and other information submitted by a company under § 23-84-117 , and any other document, material, data, and other information, including without limitation all working papers and copies of working papers created or produced in connection with the experience data that are created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the experience data; and (6) Experience materials, including experience data under subdivision (a)(5) of this section, and any potentially company-identifying or personally identifiable information that is provided to or obtained by the commissioner and any other documents, materials, data, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the experience materials.

(1) A memorandum in support of an opinion submitted under § 23-84-112 and any other documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the Insurance Commissioner or any other person in connection with the memorandum;

(2) (A) Except as provided in subdivision (a)(2)(B) of this section, all documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in the course of an examination under § 23-84-115(d) . (B) To the extent that an examination report or other material prepared in connection with an examination under § 23-61-201 et seq. is not held as private and confidential information under § 23-61-207 , an examination report or other material prepared in connection with an examination made under § 23-84-115(d) is not confidential information under this section;

(A) Except as provided in subdivision (a)(2)(B) of this section, all documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in the course of an examination under § 23-84-115(d) .

(B) To the extent that an examination report or other material prepared in connection with an examination under § 23-61-201 et seq. is not held as private and confidential information under § 23-61-207 , an examination report or other material prepared in connection with an examination made under § 23-84-115(d) is not confidential information under this section;

(3) A report, document, material, and other information developed by a company in support of or in connection with an annual certification by the company under § 23-84-116(b)(2) evaluating the effectiveness of the company's internal controls with respect to a principle-based valuation and any other document, material, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the report, document, material, and other information;

(4) A principle-based valuation report developed under § 23-84-116(b)(3) and any other document, material, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the report;

(5) Experience data, including a document, material, data, and other information submitted by a company under § 23-84-117 , and any other document, material, data, and other information, including without limitation all working papers and copies of working papers created or produced in connection with the experience data that are created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the experience data; and

(6) Experience materials, including experience data under subdivision (a)(5) of this section, and any potentially company-identifying or personally identifiable information that is provided to or obtained by the commissioner and any other documents, materials, data, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the commissioner or any other person in connection with the experience materials.

(b) (1) (A) Except as provided in this section, a company's confidential information is confidential by law and privileged and shall not be subject to: (i) The Freedom of Information Act of 1967, § 25-19-101 et seq.; (ii) Subpoena; or (iii) Discovery or admissible in evidence in a private civil action. (B) However, the commissioner is authorized to use the confidential information in the furtherance of any regulatory or legal action brought against the company as a part of the commissioner's official duties. (2) The commissioner and any other person who received confidential information while acting under the authority of the commissioner shall not be permitted or required to testify in any private civil action concerning the confidential information. (3) (A) Except as provided in subdivision (b)(3)(B) of this section, in order to assist in the performance of the commissioner's duties, the commissioner may share confidential information: (i) With other state, federal, and international regulatory agencies and with the National Association of Insurance Commissioners and its affiliates and subsidiaries; (ii) In the case of confidential information specified in subdivision (a)(1) or subdivision (a)(4) of this section only, with the Actuarial Board for Counseling and Discipline or its successor upon request stating that the confidential information is required for the purpose of professional disciplinary proceedings; and (iii) With state, federal, and international law enforcement officials. (B) The commissioner shall not share confidential information with a recipient under subdivision (b)(3)(A)(i) or subdivision (b)(3)(A)(ii) of this section unless the recipient agrees and has the legal authority to agree to maintain the confidentiality and privileged status of the confidential information in the same manner and to the same extent as required of the commissioner. (4) The commissioner may receive documents, materials, data, and other information, including otherwise confidential and privileged documents, materials, data, or information, from the National Association of Insurance Commissioners and its affiliates and subsidiaries, from regulatory or law enforcement officials of other foreign or domestic jurisdictions, and from the Actuarial Board for Counseling and Discipline or its successor and shall maintain as confidential or privileged any document, material, data, or other information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material, or other information. (5) The commissioner may enter into agreements governing sharing and use of information consistent with this subsection. (6) A waiver of any applicable privilege or claim of confidentiality concerning confidential information shall not occur as a result of a disclosure of information to the commissioner under this section or as a result of sharing information authorized by this section. (7) A privilege established under the law of any state or jurisdiction that is substantially similar to the privilege established under this subsection shall be available and enforced in any administrative, civil, or criminal proceeding in this state. (8) This section applies to the employees, agents, consultants, and contractors of the National Association of Insurance Commissioners and a regulatory agency or law enforcement agency identified in this section.

(1) (A) Except as provided in this section, a company's confidential information is confidential by law and privileged and shall not be subject to: (i) The Freedom of Information Act of 1967, § 25-19-101 et seq.; (ii) Subpoena; or (iii) Discovery or admissible in evidence in a private civil action. (B) However, the commissioner is authorized to use the confidential information in the furtherance of any regulatory or legal action brought against the company as a part of the commissioner's official duties.

(A) Except as provided in this section, a company's confidential information is confidential by law and privileged and shall not be subject to: (i) The Freedom of Information Act of 1967, § 25-19-101 et seq.; (ii) Subpoena; or (iii) Discovery or admissible in evidence in a private civil action.

(i) The Freedom of Information Act of 1967, § 25-19-101 et seq.;

(ii) Subpoena; or

(iii) Discovery or admissible in evidence in a private civil action.

(B) However, the commissioner is authorized to use the confidential information in the furtherance of any regulatory or legal action brought against the company as a part of the commissioner's official duties.

(2) The commissioner and any other person who received confidential information while acting under the authority of the commissioner shall not be permitted or required to testify in any private civil action concerning the confidential information.

(3) (A) Except as provided in subdivision (b)(3)(B) of this section, in order to assist in the performance of the commissioner's duties, the commissioner may share confidential information: (i) With other state, federal, and international regulatory agencies and with the National Association of Insurance Commissioners and its affiliates and subsidiaries; (ii) In the case of confidential information specified in subdivision (a)(1) or subdivision (a)(4) of this section only, with the Actuarial Board for Counseling and Discipline or its successor upon request stating that the confidential information is required for the purpose of professional disciplinary proceedings; and (iii) With state, federal, and international law enforcement officials. (B) The commissioner shall not share confidential information with a recipient under subdivision (b)(3)(A)(i) or subdivision (b)(3)(A)(ii) of this section unless the recipient agrees and has the legal authority to agree to maintain the confidentiality and privileged status of the confidential information in the same manner and to the same extent as required of the commissioner.

(A) Except as provided in subdivision (b)(3)(B) of this section, in order to assist in the performance of the commissioner's duties, the commissioner may share confidential information: (i) With other state, federal, and international regulatory agencies and with the National Association of Insurance Commissioners and its affiliates and subsidiaries; (ii) In the case of confidential information specified in subdivision (a)(1) or subdivision (a)(4) of this section only, with the Actuarial Board for Counseling and Discipline or its successor upon request stating that the confidential information is required for the purpose of professional disciplinary proceedings; and (iii) With state, federal, and international law enforcement officials.

(i) With other state, federal, and international regulatory agencies and with the National Association of Insurance Commissioners and its affiliates and subsidiaries;

(ii) In the case of confidential information specified in subdivision (a)(1) or subdivision (a)(4) of this section only, with the Actuarial Board for Counseling and Discipline or its successor upon request stating that the confidential information is required for the purpose of professional disciplinary proceedings; and

(iii) With state, federal, and international law enforcement officials.

(B) The commissioner shall not share confidential information with a recipient under subdivision (b)(3)(A)(i) or subdivision (b)(3)(A)(ii) of this section unless the recipient agrees and has the legal authority to agree to maintain the confidentiality and privileged status of the confidential information in the same manner and to the same extent as required of the commissioner.

(4) The commissioner may receive documents, materials, data, and other information, including otherwise confidential and privileged documents, materials, data, or information, from the National Association of Insurance Commissioners and its affiliates and subsidiaries, from regulatory or law enforcement officials of other foreign or domestic jurisdictions, and from the Actuarial Board for Counseling and Discipline or its successor and shall maintain as confidential or privileged any document, material, data, or other information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material, or other information.

(5) The commissioner may enter into agreements governing sharing and use of information consistent with this subsection.

(6) A waiver of any applicable privilege or claim of confidentiality concerning confidential information shall not occur as a result of a disclosure of information to the commissioner under this section or as a result of sharing information authorized by this section.

(7) A privilege established under the law of any state or jurisdiction that is substantially similar to the privilege established under this subsection shall be available and enforced in any administrative, civil, or criminal proceeding in this state.

(8) This section applies to the employees, agents, consultants, and contractors of the National Association of Insurance Commissioners and a regulatory agency or law enforcement agency identified in this section.

(c) Notwithstanding subsection (b) of this section, any confidential information of a company specified in subdivision (a)(1) or subdivision (a)(4) of this section: (1) May be subject to subpoena for the purpose of defending an action seeking damages from the appointed actuary submitting the related memorandum in support of an opinion submitted under § 23-84-112 or a principle-based valuation report developed under § 23-84-116(b)(3) based upon an action required of the appointed actuary by this chapter; (2) May otherwise be released by the commissioner with the written consent of the company; and (3) Is no longer confidential information protected by this section if any portion of a memorandum in support of an opinion submitted under § 23-84-112 or a principle-based valuation report developed under § 23-84-116(b)(3) is: (A) Cited by the company in its marketing; (B) Publicly volunteered to or before a governmental agency other than a state insurance department; or (C) Released by the company to the news media.

(1) May be subject to subpoena for the purpose of defending an action seeking damages from the appointed actuary submitting the related memorandum in support of an opinion submitted under § 23-84-112 or a principle-based valuation report developed under § 23-84-116(b)(3) based upon an action required of the appointed actuary by this chapter;

(2) May otherwise be released by the commissioner with the written consent of the company; and

(3) Is no longer confidential information protected by this section if any portion of a memorandum in support of an opinion submitted under § 23-84-112 or a principle-based valuation report developed under § 23-84-116(b)(3) is: (A) Cited by the company in its marketing; (B) Publicly volunteered to or before a governmental agency other than a state insurance department; or (C) Released by the company to the news media.

(A) Cited by the company in its marketing;

(B) Publicly volunteered to or before a governmental agency other than a state insurance department; or

(C) Released by the company to the news media.

Added by Act 2015, No. 1223,§ 45, eff. 7/22/2015.
Ark. Code Ann. § 23-79-606 — AR Code / Title 23 / Chapter 79 / Subchapter 6 / Section 23-79-606
Applicability - Delivery within state
Status: in_force

(a) This subchapter shall apply to any health insurance policy that is delivered, issued for delivery, renewed, extended, or modified in this state on or after August 1, 1997. (b) If a health insurance policy provides coverage or benefits to an Arkansas resident, the health insurance policy shall be deemed to be delivered in this state within the meaning of this subchapter, regardless of whether the healthcare insurer or other entity that provides the coverage is located within or outside of Arkansas. Acts 1997, No. 1249, § 6.

(a) This subchapter shall apply to any health insurance policy that is delivered, issued for delivery, renewed, extended, or modified in this state on or after August 1, 1997.

(b) If a health insurance policy provides coverage or benefits to an Arkansas resident, the health insurance policy shall be deemed to be delivered in this state within the meaning of this subchapter, regardless of whether the healthcare insurer or other entity that provides the coverage is located within or outside of Arkansas.

Acts 1997, No. 1249, § 6.
Ark. Code Ann. § 23-37-101 — AR Code / Title 23 / Chapter 37 / Subchapter 1 / Section 23-37-101
Definitions
Status: in_force

(a) As used in this chapter, unless the context otherwise requires: (1) "Association" means a corporation carrying on the business of a savings and loan association or a building and loan association under a charter issued by the State of Arkansas; (2) "Board" means the Savings and Loan Association Board [abolished] duly appointed and acting pursuant to the terms of this chapter; (3) [Repealed.] (4) "Federal association" means a savings and loan association incorporated pursuant to the Home Owners' Loan Act of 1933, whose principal business office is located within the territorial limits of this state; (5) "Foreign association" means an association chartered under the laws of another state or a federal association organized in another state, but does not mean a federal association organized in this state; (6) "Mutual association" means an association that does not have issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the members; (7) "Savings account" means that part of the savings liability of an association which is credited to a member by reason of the investment of funds in the association other than permanent capital stock; (8) "Stock association" means an association that has issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the holders of the permanent capital stock; and (9) "Supervisor" means the Supervisor of Savings and Loan Associations acting and appointed pursuant to the terms of this chapter. (b) The board may by rule define other terms used in this chapter and by the savings and loan industry. Amended by Act 2021, No. 576,§ 2, eff. 7/28/2021. Acts 1963, No. 227, § 1; 1979, No. 361, § 1; A.S.A. 1947, § 67-1801.

(a) As used in this chapter, unless the context otherwise requires: (1) "Association" means a corporation carrying on the business of a savings and loan association or a building and loan association under a charter issued by the State of Arkansas; (2) "Board" means the Savings and Loan Association Board [abolished] duly appointed and acting pursuant to the terms of this chapter; (3) [Repealed.] (4) "Federal association" means a savings and loan association incorporated pursuant to the Home Owners' Loan Act of 1933, whose principal business office is located within the territorial limits of this state; (5) "Foreign association" means an association chartered under the laws of another state or a federal association organized in another state, but does not mean a federal association organized in this state; (6) "Mutual association" means an association that does not have issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the members; (7) "Savings account" means that part of the savings liability of an association which is credited to a member by reason of the investment of funds in the association other than permanent capital stock; (8) "Stock association" means an association that has issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the holders of the permanent capital stock; and (9) "Supervisor" means the Supervisor of Savings and Loan Associations acting and appointed pursuant to the terms of this chapter.

(1) "Association" means a corporation carrying on the business of a savings and loan association or a building and loan association under a charter issued by the State of Arkansas;

(2) "Board" means the Savings and Loan Association Board [abolished] duly appointed and acting pursuant to the terms of this chapter;

(3) [Repealed.]

(4) "Federal association" means a savings and loan association incorporated pursuant to the Home Owners' Loan Act of 1933, whose principal business office is located within the territorial limits of this state;

(5) "Foreign association" means an association chartered under the laws of another state or a federal association organized in another state, but does not mean a federal association organized in this state;

(6) "Mutual association" means an association that does not have issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the members;

(7) "Savings account" means that part of the savings liability of an association which is credited to a member by reason of the investment of funds in the association other than permanent capital stock;

(8) "Stock association" means an association that has issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the holders of the permanent capital stock; and

(9) "Supervisor" means the Supervisor of Savings and Loan Associations acting and appointed pursuant to the terms of this chapter.

(b) The board may by rule define other terms used in this chapter and by the savings and loan industry.

Amended by Act 2021, No. 576,§ 2, eff. 7/28/2021.

Acts 1963, No. 227, § 1; 1979, No. 361, § 1; A.S.A. 1947, § 67-1801.
Ark. Code Ann. § 23-63-1704 — AR Code / Title 23 / Chapter 63 / Subchapter 17 / Section 23-63-1704
Establishment of protected cells
Status: in_force

(a) (1) A protected cell company may establish one (1) or more protected cells by submitting a plan of operation, or amendments to a plan, with respect to each protected cell in connection with an insurance securitization to the Insurance Commissioner for prior written approval. (2) The plan shall include, but not be limited to: (A) The specific business objectives of the protected cell; and (B) The investment guidelines of the protected cell. (3) Upon receiving written approval, the protected cell company, in accordance with the approved plan of operation, may attribute to the protected cell insurance obligations with respect to its insurance business and obligations relating to the insurance securitization and assets to fund the obligations. (4) A protected cell shall have its own distinct name or designation, which shall include the words "protected cell". (5) The protected cell company shall transfer all assets attributable to a protected cell to one (1) or more separately established and identified protected cell accounts bearing the name or designation of that protected cell. (6) Protected cell assets shall be held in the protected cell accounts for the purpose of satisfying the obligations of that protected cell. (b) (1) All attributions of assets and liabilities between a protected cell and the general account shall be in accordance with the plan of operation approved by the commissioner. (2) No other attribution of assets or liabilities may be made by a protected cell company between the protected cell company's general account and its protected cells. (3) Any attribution of assets and liabilities between the general account and a protected cell or from investors, in the form of principal on a debt instrument issued by a protected cell company in connection with a protected cell company securitization, shall be in cash or in readily marketable securities with established market values. (c) (1) The creation of a protected cell does not create, in respect to that protected cell, a legal person separate from the protected cell company. (2) (A) Amounts attributed to a protected cell under this subchapter, including assets transferred to a protected cell account, are owned by the protected cell company. (B) The protected cell company may not be, nor hold itself out to be, a trustee with respect to those protected cell assets of that protected cell account. (3) The protected cell company, however, may allow for a security interest to attach to protected cell assets or a protected cell account when in favor of a creditor of the protected cell if allowed by applicable law. (d) (1) This subchapter does not prohibit the protected cell company from contracting with or arranging for an investment advisor, commodity trading advisor, or other third party to manage the protected cell assets of a protected cell. (2) All remuneration, expenses, and other compensation of the third-party advisor or manager are payable from the protected cell assets of that protected cell, and not from the protected cell assets of other protected cells or the assets of the protected cell company's general account. (e) (1) A protected cell company shall establish administrative and accounting procedures necessary to properly identify the one (1) or more protected cells of the protected cell company and the protected cell assets and liabilities attributable to the protected cells. It shall be the duty of the directors of a protected cell company to: (A) Keep protected cell assets and liabilities separate and separately identifiable from the assets and liabilities of the protected cell company's general account; and (B) Keep protected cell assets and liabilities attributable to one protected cell separate and separately identifiable from protected cell assets and liabilities attributable to other protected cells. (2) (A) If this subsection is violated, the remedy of tracing shall be applicable to protected cell assets when commingled with protected cell assets of other protected cells or the assets of the protected cell company's general account. (B) The remedy of tracing shall not be an exclusive remedy. (f) When establishing a protected cell, the protected cell company shall attribute to the protected cell, assets with a value at least equal to the reserves and other insurance liabilities attributed to that protected cell. Acts 2001, No. 1428, § 4.

(a) (1) A protected cell company may establish one (1) or more protected cells by submitting a plan of operation, or amendments to a plan, with respect to each protected cell in connection with an insurance securitization to the Insurance Commissioner for prior written approval. (2) The plan shall include, but not be limited to: (A) The specific business objectives of the protected cell; and (B) The investment guidelines of the protected cell. (3) Upon receiving written approval, the protected cell company, in accordance with the approved plan of operation, may attribute to the protected cell insurance obligations with respect to its insurance business and obligations relating to the insurance securitization and assets to fund the obligations. (4) A protected cell shall have its own distinct name or designation, which shall include the words "protected cell". (5) The protected cell company shall transfer all assets attributable to a protected cell to one (1) or more separately established and identified protected cell accounts bearing the name or designation of that protected cell. (6) Protected cell assets shall be held in the protected cell accounts for the purpose of satisfying the obligations of that protected cell.

(1) A protected cell company may establish one (1) or more protected cells by submitting a plan of operation, or amendments to a plan, with respect to each protected cell in connection with an insurance securitization to the Insurance Commissioner for prior written approval.

(2) The plan shall include, but not be limited to: (A) The specific business objectives of the protected cell; and (B) The investment guidelines of the protected cell.

(A) The specific business objectives of the protected cell; and

(B) The investment guidelines of the protected cell.

(3) Upon receiving written approval, the protected cell company, in accordance with the approved plan of operation, may attribute to the protected cell insurance obligations with respect to its insurance business and obligations relating to the insurance securitization and assets to fund the obligations.

(4) A protected cell shall have its own distinct name or designation, which shall include the words "protected cell".

(5) The protected cell company shall transfer all assets attributable to a protected cell to one (1) or more separately established and identified protected cell accounts bearing the name or designation of that protected cell.

(6) Protected cell assets shall be held in the protected cell accounts for the purpose of satisfying the obligations of that protected cell.

(b) (1) All attributions of assets and liabilities between a protected cell and the general account shall be in accordance with the plan of operation approved by the commissioner. (2) No other attribution of assets or liabilities may be made by a protected cell company between the protected cell company's general account and its protected cells. (3) Any attribution of assets and liabilities between the general account and a protected cell or from investors, in the form of principal on a debt instrument issued by a protected cell company in connection with a protected cell company securitization, shall be in cash or in readily marketable securities with established market values.

(1) All attributions of assets and liabilities between a protected cell and the general account shall be in accordance with the plan of operation approved by the commissioner.

(2) No other attribution of assets or liabilities may be made by a protected cell company between the protected cell company's general account and its protected cells.

(3) Any attribution of assets and liabilities between the general account and a protected cell or from investors, in the form of principal on a debt instrument issued by a protected cell company in connection with a protected cell company securitization, shall be in cash or in readily marketable securities with established market values.

(c) (1) The creation of a protected cell does not create, in respect to that protected cell, a legal person separate from the protected cell company. (2) (A) Amounts attributed to a protected cell under this subchapter, including assets transferred to a protected cell account, are owned by the protected cell company. (B) The protected cell company may not be, nor hold itself out to be, a trustee with respect to those protected cell assets of that protected cell account. (3) The protected cell company, however, may allow for a security interest to attach to protected cell assets or a protected cell account when in favor of a creditor of the protected cell if allowed by applicable law.

(1) The creation of a protected cell does not create, in respect to that protected cell, a legal person separate from the protected cell company.

(2) (A) Amounts attributed to a protected cell under this subchapter, including assets transferred to a protected cell account, are owned by the protected cell company. (B) The protected cell company may not be, nor hold itself out to be, a trustee with respect to those protected cell assets of that protected cell account.

(A) Amounts attributed to a protected cell under this subchapter, including assets transferred to a protected cell account, are owned by the protected cell company.

(B) The protected cell company may not be, nor hold itself out to be, a trustee with respect to those protected cell assets of that protected cell account.

(3) The protected cell company, however, may allow for a security interest to attach to protected cell assets or a protected cell account when in favor of a creditor of the protected cell if allowed by applicable law.

(d) (1) This subchapter does not prohibit the protected cell company from contracting with or arranging for an investment advisor, commodity trading advisor, or other third party to manage the protected cell assets of a protected cell. (2) All remuneration, expenses, and other compensation of the third-party advisor or manager are payable from the protected cell assets of that protected cell, and not from the protected cell assets of other protected cells or the assets of the protected cell company's general account.

(1) This subchapter does not prohibit the protected cell company from contracting with or arranging for an investment advisor, commodity trading advisor, or other third party to manage the protected cell assets of a protected cell.

(2) All remuneration, expenses, and other compensation of the third-party advisor or manager are payable from the protected cell assets of that protected cell, and not from the protected cell assets of other protected cells or the assets of the protected cell company's general account.

(e) (1) A protected cell company shall establish administrative and accounting procedures necessary to properly identify the one (1) or more protected cells of the protected cell company and the protected cell assets and liabilities attributable to the protected cells. It shall be the duty of the directors of a protected cell company to: (A) Keep protected cell assets and liabilities separate and separately identifiable from the assets and liabilities of the protected cell company's general account; and (B) Keep protected cell assets and liabilities attributable to one protected cell separate and separately identifiable from protected cell assets and liabilities attributable to other protected cells. (2) (A) If this subsection is violated, the remedy of tracing shall be applicable to protected cell assets when commingled with protected cell assets of other protected cells or the assets of the protected cell company's general account. (B) The remedy of tracing shall not be an exclusive remedy.

(1) A protected cell company shall establish administrative and accounting procedures necessary to properly identify the one (1) or more protected cells of the protected cell company and the protected cell assets and liabilities attributable to the protected cells. It shall be the duty of the directors of a protected cell company to: (A) Keep protected cell assets and liabilities separate and separately identifiable from the assets and liabilities of the protected cell company's general account; and (B) Keep protected cell assets and liabilities attributable to one protected cell separate and separately identifiable from protected cell assets and liabilities attributable to other protected cells.

(A) Keep protected cell assets and liabilities separate and separately identifiable from the assets and liabilities of the protected cell company's general account; and

(B) Keep protected cell assets and liabilities attributable to one protected cell separate and separately identifiable from protected cell assets and liabilities attributable to other protected cells.

(2) (A) If this subsection is violated, the remedy of tracing shall be applicable to protected cell assets when commingled with protected cell assets of other protected cells or the assets of the protected cell company's general account. (B) The remedy of tracing shall not be an exclusive remedy.

(A) If this subsection is violated, the remedy of tracing shall be applicable to protected cell assets when commingled with protected cell assets of other protected cells or the assets of the protected cell company's general account.

(B) The remedy of tracing shall not be an exclusive remedy.

(f) When establishing a protected cell, the protected cell company shall attribute to the protected cell, assets with a value at least equal to the reserves and other insurance liabilities attributed to that protected cell.

Acts 2001, No. 1428, § 4.
Ark. Code Ann. § 23-112-604 — AR Code / Title 23 / Chapter 112 / Subchapter 6 / Section 23-112-604
Powers generally
Status: in_force

(a) The Department of Arkansas State Police may promulgate rules that are necessary to implement, enforce, and administer this subchapter. (b) The department may cancel a dealer's license if the dealer: (1) Fails to keep and maintain the requirements of § 23-112-607(a) and (c) ; or (2) Pleads guilty or nolo contendere to or has been found guilty of a violation of § 23-112-605 . Acts 1993, No. 490, § 13; 2011, No. 201, § 1.

(a) The Department of Arkansas State Police may promulgate rules that are necessary to implement, enforce, and administer this subchapter.

(b) The department may cancel a dealer's license if the dealer: (1) Fails to keep and maintain the requirements of § 23-112-607(a) and (c) ; or (2) Pleads guilty or nolo contendere to or has been found guilty of a violation of § 23-112-605 .

(1) Fails to keep and maintain the requirements of § 23-112-607(a) and (c) ; or

(2) Pleads guilty or nolo contendere to or has been found guilty of a violation of § 23-112-605 .

Acts 1993, No. 490, § 13; 2011, No. 201, § 1.
Ark. Code Ann. § 23-18-806 — AR Code / Title 23 / Chapter 18 / Subchapter 8 / Section 23-18-806
Fees and charges
Status: in_force

(a) An electric utility may charge a broadband affiliate, an unaffiliated broadband Internet service provider, or a broadband operator for the costs of the construction, installation, operation, and maintenance of the broadband system of the broadband affiliate, unaffiliated broadband Internet service provider, or broadband operator. (b) (1) The costs incurred by an electric utility to own, operate, construct, and maintain a broadband system and to provide broadband services on its electric delivery system either by itself or through a broadband affiliate or broadband operator shall be allocated to the electric utility's accounts between regulated broadband services and nonregulated broadband services in accordance with applicable accounting principles and standards. (2) (A) Costs allocated to nonregulated broadband services: (i) Are outside the scope of an electric utility's providing of electric service to the public; (ii) Shall not be recoverable through its rates for the providing of electric service; and (iii) Are not subject to the jurisdiction of the state or any agency, instrumentality, or political subdivision of the state. (B) Revenues received by an electric utility attributable to the providing of nonregulated broadband services shall not be included as revenues to the electric utility for purposes of establishing its rates for the providing of electric service. (c) (1) If all or part of a broadband system is installed on poles or other structures of a telephone utility and the broadband operator is unaffiliated with the electric utility that owns the electric delivery system, before installing equipment the unaffiliated broadband operator shall enter into the customary agreement used by the telephone utility for access to the electrical delivery system and shall pay the telephone utility an annual fee consistent with the usual and customary charges for access to the space occupied by that portion of the broadband system. (2) If all or part of a broadband system is installed on poles or other structures of a telephone utility and the broadband operator is an electric utility or broadband affiliate, the existing contract governing placement of the electric utility's attachments on poles or other structures shall apply and no additional annual fee or approval shall be required if the broadband system is installed within the space allocated for electric service under the contract. (d) An electric utility shall not: (1) Charge an affiliate under this section an amount less than the electric utility would charge an unaffiliated entity for the same item or class of items; or (2) Pay an affiliate under this section an amount more than the affiliate would charge an unaffiliated entity for the same item or class of items. (e) A transaction between an electric utility and an affiliate and allocations between an electric utility account and a nonutility account with respect to broadband services and broadband systems are subject to this subchapter. Acts 2007, No. 739, § 1.

(a) An electric utility may charge a broadband affiliate, an unaffiliated broadband Internet service provider, or a broadband operator for the costs of the construction, installation, operation, and maintenance of the broadband system of the broadband affiliate, unaffiliated broadband Internet service provider, or broadband operator.

(b) (1) The costs incurred by an electric utility to own, operate, construct, and maintain a broadband system and to provide broadband services on its electric delivery system either by itself or through a broadband affiliate or broadband operator shall be allocated to the electric utility's accounts between regulated broadband services and nonregulated broadband services in accordance with applicable accounting principles and standards. (2) (A) Costs allocated to nonregulated broadband services: (i) Are outside the scope of an electric utility's providing of electric service to the public; (ii) Shall not be recoverable through its rates for the providing of electric service; and (iii) Are not subject to the jurisdiction of the state or any agency, instrumentality, or political subdivision of the state. (B) Revenues received by an electric utility attributable to the providing of nonregulated broadband services shall not be included as revenues to the electric utility for purposes of establishing its rates for the providing of electric service.

(1) The costs incurred by an electric utility to own, operate, construct, and maintain a broadband system and to provide broadband services on its electric delivery system either by itself or through a broadband affiliate or broadband operator shall be allocated to the electric utility's accounts between regulated broadband services and nonregulated broadband services in accordance with applicable accounting principles and standards.

(2) (A) Costs allocated to nonregulated broadband services: (i) Are outside the scope of an electric utility's providing of electric service to the public; (ii) Shall not be recoverable through its rates for the providing of electric service; and (iii) Are not subject to the jurisdiction of the state or any agency, instrumentality, or political subdivision of the state. (B) Revenues received by an electric utility attributable to the providing of nonregulated broadband services shall not be included as revenues to the electric utility for purposes of establishing its rates for the providing of electric service.

(A) Costs allocated to nonregulated broadband services: (i) Are outside the scope of an electric utility's providing of electric service to the public; (ii) Shall not be recoverable through its rates for the providing of electric service; and (iii) Are not subject to the jurisdiction of the state or any agency, instrumentality, or political subdivision of the state.

(i) Are outside the scope of an electric utility's providing of electric service to the public;

(ii) Shall not be recoverable through its rates for the providing of electric service; and

(iii) Are not subject to the jurisdiction of the state or any agency, instrumentality, or political subdivision of the state.

(B) Revenues received by an electric utility attributable to the providing of nonregulated broadband services shall not be included as revenues to the electric utility for purposes of establishing its rates for the providing of electric service.

(c) (1) If all or part of a broadband system is installed on poles or other structures of a telephone utility and the broadband operator is unaffiliated with the electric utility that owns the electric delivery system, before installing equipment the unaffiliated broadband operator shall enter into the customary agreement used by the telephone utility for access to the electrical delivery system and shall pay the telephone utility an annual fee consistent with the usual and customary charges for access to the space occupied by that portion of the broadband system. (2) If all or part of a broadband system is installed on poles or other structures of a telephone utility and the broadband operator is an electric utility or broadband affiliate, the existing contract governing placement of the electric utility's attachments on poles or other structures shall apply and no additional annual fee or approval shall be required if the broadband system is installed within the space allocated for electric service under the contract.

(1) If all or part of a broadband system is installed on poles or other structures of a telephone utility and the broadband operator is unaffiliated with the electric utility that owns the electric delivery system, before installing equipment the unaffiliated broadband operator shall enter into the customary agreement used by the telephone utility for access to the electrical delivery system and shall pay the telephone utility an annual fee consistent with the usual and customary charges for access to the space occupied by that portion of the broadband system.

(2) If all or part of a broadband system is installed on poles or other structures of a telephone utility and the broadband operator is an electric utility or broadband affiliate, the existing contract governing placement of the electric utility's attachments on poles or other structures shall apply and no additional annual fee or approval shall be required if the broadband system is installed within the space allocated for electric service under the contract.

(d) An electric utility shall not: (1) Charge an affiliate under this section an amount less than the electric utility would charge an unaffiliated entity for the same item or class of items; or (2) Pay an affiliate under this section an amount more than the affiliate would charge an unaffiliated entity for the same item or class of items.

(1) Charge an affiliate under this section an amount less than the electric utility would charge an unaffiliated entity for the same item or class of items; or

(2) Pay an affiliate under this section an amount more than the affiliate would charge an unaffiliated entity for the same item or class of items.

(e) A transaction between an electric utility and an affiliate and allocations between an electric utility account and a nonutility account with respect to broadband services and broadband systems are subject to this subchapter.

Acts 2007, No. 739, § 1.
Ark. Code Ann. § 23-81-204 — AR Code / Title 23 / Chapter 81 / Subchapter 2 / Section 23-81-204
Cash surrender value
Status: in_force

(a) Any cash surrender value available under the policy in the event of default in a premium payment due on any policy anniversary, whether or not required by § 23-81-203 , shall be an amount not less than the excess, if any, of the present value, on the anniversary, of the future guaranteed benefits which would have been provided for by the policy, including any existing paid-up additions, if there had been no default, over the sum of: (1) The then-present value of the adjusted premiums as defined in §§ 23-81-206 - 23-81-209 corresponding to premiums which would have fallen due on and after the anniversary; and (2) The amount of any indebtedness to the insurer on the policy. (b) However, for any policy issued on or after the operative date of § 23-81-207 as defined therein, which provides supplemental life insurance or annuity benefits at the option of the insured and for an identifiable additional premium by rider or supplemental policy provision, the cash surrender value as defined in the section for an otherwise similar policy issued at the same age without the rider or supplemental policy provision and the cash surrender value as defined in the section for a policy which provides only the benefits otherwise provided by the rider or supplemental policy provision. (c) For any family policy issued on or after the operative date of § 23-81-207 as defined therein, which defines a primary insured and provides term insurance on the life of the spouse of the primary insured expiring before the spouse's age seventy-one (71), the cash surrender value referred to in subsection (a) of this section shall be an amount not less than the sum of the cash surrender value as defined in the section for an otherwise similar policy issued at the same age without such term insurance on the life of the spouse and the cash surrender value as defined in the section for a policy which provides only the benefits otherwise provided by the term insurance on the life of the spouse. (d) Any cash surrender value available within thirty (30) days after any policy anniversary under any policy paid up by completion of all premium payments or any policy continued under any paid-up nonforfeiture benefit, whether or not required by § 23-81-203 , shall be an amount not less than the present value, on the anniversary, of the future guaranteed benefits provided for by the policy, including any existing paid-up additions, decreased by any indebtedness to the insurer on the policy. Acts 1959, No. 148, § 336; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.

(a) Any cash surrender value available under the policy in the event of default in a premium payment due on any policy anniversary, whether or not required by § 23-81-203 , shall be an amount not less than the excess, if any, of the present value, on the anniversary, of the future guaranteed benefits which would have been provided for by the policy, including any existing paid-up additions, if there had been no default, over the sum of: (1) The then-present value of the adjusted premiums as defined in §§ 23-81-206 - 23-81-209 corresponding to premiums which would have fallen due on and after the anniversary; and (2) The amount of any indebtedness to the insurer on the policy.

(1) The then-present value of the adjusted premiums as defined in §§ 23-81-206 - 23-81-209 corresponding to premiums which would have fallen due on and after the anniversary; and

(2) The amount of any indebtedness to the insurer on the policy.

(b) However, for any policy issued on or after the operative date of § 23-81-207 as defined therein, which provides supplemental life insurance or annuity benefits at the option of the insured and for an identifiable additional premium by rider or supplemental policy provision, the cash surrender value as defined in the section for an otherwise similar policy issued at the same age without the rider or supplemental policy provision and the cash surrender value as defined in the section for a policy which provides only the benefits otherwise provided by the rider or supplemental policy provision.

(c) For any family policy issued on or after the operative date of § 23-81-207 as defined therein, which defines a primary insured and provides term insurance on the life of the spouse of the primary insured expiring before the spouse's age seventy-one (71), the cash surrender value referred to in subsection (a) of this section shall be an amount not less than the sum of the cash surrender value as defined in the section for an otherwise similar policy issued at the same age without such term insurance on the life of the spouse and the cash surrender value as defined in the section for a policy which provides only the benefits otherwise provided by the term insurance on the life of the spouse.

(d) Any cash surrender value available within thirty (30) days after any policy anniversary under any policy paid up by completion of all premium payments or any policy continued under any paid-up nonforfeiture benefit, whether or not required by § 23-81-203 , shall be an amount not less than the present value, on the anniversary, of the future guaranteed benefits provided for by the policy, including any existing paid-up additions, decreased by any indebtedness to the insurer on the policy.

Acts 1959, No. 148, § 336; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.
Ark. Code Ann. § 23-39-511 — AR Code / Title 23 / Chapter 39 / Subchapter 5 / Section 23-39-511
Records - Escrow funds or trust accounts
Status: in_force

(a) The Securities Commissioner shall keep a list of all applicants for licensure under this subchapter that includes: (1) The applicant's name; (2) The date of application; (3) The applicant's place of residence; and (4) Whether the license was granted or refused. (b) (1) The commissioner shall keep a current roster showing the names and places of business of all licensees that shows their respective loan officers and their respective transitional loan officers. (2) The roster under subdivision (b)(1) of this section shall: (A) Be kept on file in the office of the commissioner; (B) Contain information regarding all orders or other actions taken against the licensees and other persons; and (C) Be open to public inspection. (c) Every licensee shall make and keep the accounts, correspondence, memoranda, papers, books, and other records as prescribed in rules adopted by the commissioner. (d) (1) If the information contained in any document filed with the commissioner is or becomes inaccurate or incomplete in any material respect, the licensee shall file a correcting amendment to the information contained in the document within thirty (30) days from the date on which the change takes place. (2) (A) Any licensee that does not comply with subdivision (d)(1) of this section shall pay a late fee of two hundred fifty dollars ($250). (B) All or part of the late fee may be waived by the commissioner for good cause. (e) (1) A licensee shall maintain in a segregated escrow fund or trust account any funds that come into the licensee's possession but that are not the licensee's property and which the licensee is not entitled to retain under the circumstances. (2) The escrow fund or trust account under subdivision (e)(1) of this section shall be held on deposit in a federally insured financial institution. Amended by Act 2019, No. 200,§ 19, eff. 7/24/2019. Acts 2003, No. 554, § 1; 2005, No. 1679, § 2; 2009, No. 731, § 22.

(a) The Securities Commissioner shall keep a list of all applicants for licensure under this subchapter that includes: (1) The applicant's name; (2) The date of application; (3) The applicant's place of residence; and (4) Whether the license was granted or refused.

(1) The applicant's name;

(2) The date of application;

(3) The applicant's place of residence; and

(4) Whether the license was granted or refused.

(b) (1) The commissioner shall keep a current roster showing the names and places of business of all licensees that shows their respective loan officers and their respective transitional loan officers. (2) The roster under subdivision (b)(1) of this section shall: (A) Be kept on file in the office of the commissioner; (B) Contain information regarding all orders or other actions taken against the licensees and other persons; and (C) Be open to public inspection.

(1) The commissioner shall keep a current roster showing the names and places of business of all licensees that shows their respective loan officers and their respective transitional loan officers.

(2) The roster under subdivision (b)(1) of this section shall: (A) Be kept on file in the office of the commissioner; (B) Contain information regarding all orders or other actions taken against the licensees and other persons; and (C) Be open to public inspection.

(A) Be kept on file in the office of the commissioner;

(B) Contain information regarding all orders or other actions taken against the licensees and other persons; and

(C) Be open to public inspection.

(c) Every licensee shall make and keep the accounts, correspondence, memoranda, papers, books, and other records as prescribed in rules adopted by the commissioner.

(d) (1) If the information contained in any document filed with the commissioner is or becomes inaccurate or incomplete in any material respect, the licensee shall file a correcting amendment to the information contained in the document within thirty (30) days from the date on which the change takes place. (2) (A) Any licensee that does not comply with subdivision (d)(1) of this section shall pay a late fee of two hundred fifty dollars ($250). (B) All or part of the late fee may be waived by the commissioner for good cause.

(1) If the information contained in any document filed with the commissioner is or becomes inaccurate or incomplete in any material respect, the licensee shall file a correcting amendment to the information contained in the document within thirty (30) days from the date on which the change takes place.

(2) (A) Any licensee that does not comply with subdivision (d)(1) of this section shall pay a late fee of two hundred fifty dollars ($250). (B) All or part of the late fee may be waived by the commissioner for good cause.

(A) Any licensee that does not comply with subdivision (d)(1) of this section shall pay a late fee of two hundred fifty dollars ($250).

(B) All or part of the late fee may be waived by the commissioner for good cause.

(e) (1) A licensee shall maintain in a segregated escrow fund or trust account any funds that come into the licensee's possession but that are not the licensee's property and which the licensee is not entitled to retain under the circumstances. (2) The escrow fund or trust account under subdivision (e)(1) of this section shall be held on deposit in a federally insured financial institution.

(1) A licensee shall maintain in a segregated escrow fund or trust account any funds that come into the licensee's possession but that are not the licensee's property and which the licensee is not entitled to retain under the circumstances.

(2) The escrow fund or trust account under subdivision (e)(1) of this section shall be held on deposit in a federally insured financial institution.

Amended by Act 2019, No. 200,§ 19, eff. 7/24/2019.

Acts 2003, No. 554, § 1; 2005, No. 1679, § 2; 2009, No. 731, § 22.
Ark. Code Ann. § 23-69-133 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-133
Stockholders' liability
Status: in_force

(a) Every holder of shares of stock of a domestic stock insurer not fully paid shall be personally liable to the insurer's creditors for the insurer's debts to an amount equal to the amount unpaid on the shares held by him or her. (b) Anything in §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 to the contrary notwithstanding, a holder of shares who has acquired the shares in good faith without knowledge that they were not paid in full or to the extent stated in the certificate for the shares shall not be liable either to the insurer or to its creditors for any amount beyond that shown by the certificate to be unpaid on the shares represented thereby. (c) Any holder who derives his or her title through such a holder and who is not himself or herself a party to any fraud affecting the issuance of the shares shall have all the rights of the former owner. Acts 1959, No. 148, § 487; A.S.A. 1947, § 66-4235.

(a) Every holder of shares of stock of a domestic stock insurer not fully paid shall be personally liable to the insurer's creditors for the insurer's debts to an amount equal to the amount unpaid on the shares held by him or her.

(b) Anything in §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 to the contrary notwithstanding, a holder of shares who has acquired the shares in good faith without knowledge that they were not paid in full or to the extent stated in the certificate for the shares shall not be liable either to the insurer or to its creditors for any amount beyond that shown by the certificate to be unpaid on the shares represented thereby.

(c) Any holder who derives his or her title through such a holder and who is not himself or herself a party to any fraud affecting the issuance of the shares shall have all the rights of the former owner.

Acts 1959, No. 148, § 487; A.S.A. 1947, § 66-4235.
Ark. Code Ann. § 23-4-403 — AR Code / Title 23 / Chapter 4 / Subchapter 4 / Section 23-4-403
Changes allowed without notice
Status: in_force

The Arkansas Public Service Commission, for good cause shown, may allow changes in rates without requiring the thirty (30) days' notice under such conditions as it may prescribe. All allowed changes shall be immediately indicated upon its schedules by the public utility. Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.

The Arkansas Public Service Commission, for good cause shown, may allow changes in rates without requiring the thirty (30) days' notice under such conditions as it may prescribe. All allowed changes shall be immediately indicated upon its schedules by the public utility.

Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1.
Ark. Code Ann. § 23-10-405 — AR Code / Title 23 / Chapter 10 / Subchapter 4 / Section 23-10-405
Remedies in sections 23-10-406, 23-10-409 - 23-10-431 cumulative
Status: in_force

The remedies given by §§ 23-10-406 and 23-10-409 - 23-10-431 shall be regarded as cumulative, and §§ 23-10-406 and 23-10-409 - 23-10-431 shall not be construed as repealing any statute giving such remedies. Acts 1907, No. 193, § 24, p. 453; A.S.A. 1947, § 73-1330.

The remedies given by §§ 23-10-406 and 23-10-409 - 23-10-431 shall be regarded as cumulative, and §§ 23-10-406 and 23-10-409 - 23-10-431 shall not be construed as repealing any statute giving such remedies.

Acts 1907, No. 193, § 24, p. 453; A.S.A. 1947, § 73-1330.
Ark. Code Ann. § 23-110-403 — AR Code / Title 23 / Chapter 110 / Subchapter 4 / Section 23-110-403
Application for license to conduct meet - Issuance
Status: in_force

(a) Before any franchise holder shall conduct a racing meet in the county in which it holds a franchise, it shall file with the Arkansas Racing Commission an application to hold the meet and shall file the bond required by this chapter. (b) (1) Each application shall be filed with the commission at least ninety (90) days prior to the date upon which it is desired to begin the racing meet. (2) The application shall specify the dates on which it is intended or desired to conduct or hold the meet and further information as the commission may prescribe. (3) (A) With the application there shall be delivered to the commission a certified check or bank draft payable to the order of the commission for the full amount of the license fee for each day of the racing meet. (B) (i) The license fee required to be paid by the franchise holder under the provisions of this section shall be computed at the rate of five hundred dollars ($500) per day. (ii) The aggregate amount of the fee shall be based upon the total number of days which it is proposed that racing will be conducted at such a meet. (C) The license fee imposed pursuant to this subdivision (b)(3) shall be in lieu of all other license or occupation fees or taxes which otherwise would be due by the franchise holder to the State of Arkansas or to any of its political subdivisions. (c) Whenever mutually agreeable to the commission and the franchise holder, the commission may allot racing dates other than those requested in the application. (d) Immediately following the allotting of any racing dates and the issuance of a license to hold a racing meet, the commission shall notify the franchise holder of the dates allotted. This notice shall be in writing and sent by registered United States mail to the franchise holder, and each notice and license shall be mailed by the commission at least sixty (60) days before the date fixed for the beginning of the racing meet. (e) (1) Each license shall specify: (A) The name of the franchise holder; (B) The dates on which the racing meet shall be held or conducted; (C) The location of the place, track, or enclosure at which such racing meet is to be conducted; and (D) The amount of the license fee paid by the franchise holder. (2) No license shall be transferable, nor shall it apply to any place, track, or enclosure other than the one specified in the license. (f) (1) If the commission refuses an application for a license, it shall notify the franchise holder. This notice must be in writing and sent by registered United States mail to the franchise holder and shall be mailed by the commission at least sixty (60) days before the date fixed in the application for the beginning of the racing meet. (2) In each instance the notice shall contain the reasons for refusal of the application. (3) No application shall be refused until after the franchise holder has been granted a hearing by the commission. Acts 1957, No. 46, § 18; A.S.A. 1947, § 84-2744; Acts 2001, No. 1553, § 55.

(a) Before any franchise holder shall conduct a racing meet in the county in which it holds a franchise, it shall file with the Arkansas Racing Commission an application to hold the meet and shall file the bond required by this chapter.

(b) (1) Each application shall be filed with the commission at least ninety (90) days prior to the date upon which it is desired to begin the racing meet. (2) The application shall specify the dates on which it is intended or desired to conduct or hold the meet and further information as the commission may prescribe. (3) (A) With the application there shall be delivered to the commission a certified check or bank draft payable to the order of the commission for the full amount of the license fee for each day of the racing meet. (B) (i) The license fee required to be paid by the franchise holder under the provisions of this section shall be computed at the rate of five hundred dollars ($500) per day. (ii) The aggregate amount of the fee shall be based upon the total number of days which it is proposed that racing will be conducted at such a meet. (C) The license fee imposed pursuant to this subdivision (b)(3) shall be in lieu of all other license or occupation fees or taxes which otherwise would be due by the franchise holder to the State of Arkansas or to any of its political subdivisions.

(1) Each application shall be filed with the commission at least ninety (90) days prior to the date upon which it is desired to begin the racing meet.

(2) The application shall specify the dates on which it is intended or desired to conduct or hold the meet and further information as the commission may prescribe.

(3) (A) With the application there shall be delivered to the commission a certified check or bank draft payable to the order of the commission for the full amount of the license fee for each day of the racing meet. (B) (i) The license fee required to be paid by the franchise holder under the provisions of this section shall be computed at the rate of five hundred dollars ($500) per day. (ii) The aggregate amount of the fee shall be based upon the total number of days which it is proposed that racing will be conducted at such a meet. (C) The license fee imposed pursuant to this subdivision (b)(3) shall be in lieu of all other license or occupation fees or taxes which otherwise would be due by the franchise holder to the State of Arkansas or to any of its political subdivisions.

(A) With the application there shall be delivered to the commission a certified check or bank draft payable to the order of the commission for the full amount of the license fee for each day of the racing meet.

(B) (i) The license fee required to be paid by the franchise holder under the provisions of this section shall be computed at the rate of five hundred dollars ($500) per day. (ii) The aggregate amount of the fee shall be based upon the total number of days which it is proposed that racing will be conducted at such a meet.

(i) The license fee required to be paid by the franchise holder under the provisions of this section shall be computed at the rate of five hundred dollars ($500) per day.

(ii) The aggregate amount of the fee shall be based upon the total number of days which it is proposed that racing will be conducted at such a meet.

(C) The license fee imposed pursuant to this subdivision (b)(3) shall be in lieu of all other license or occupation fees or taxes which otherwise would be due by the franchise holder to the State of Arkansas or to any of its political subdivisions.

(c) Whenever mutually agreeable to the commission and the franchise holder, the commission may allot racing dates other than those requested in the application.

(d) Immediately following the allotting of any racing dates and the issuance of a license to hold a racing meet, the commission shall notify the franchise holder of the dates allotted. This notice shall be in writing and sent by registered United States mail to the franchise holder, and each notice and license shall be mailed by the commission at least sixty (60) days before the date fixed for the beginning of the racing meet.

(e) (1) Each license shall specify: (A) The name of the franchise holder; (B) The dates on which the racing meet shall be held or conducted; (C) The location of the place, track, or enclosure at which such racing meet is to be conducted; and (D) The amount of the license fee paid by the franchise holder. (2) No license shall be transferable, nor shall it apply to any place, track, or enclosure other than the one specified in the license.

(1) Each license shall specify: (A) The name of the franchise holder; (B) The dates on which the racing meet shall be held or conducted; (C) The location of the place, track, or enclosure at which such racing meet is to be conducted; and (D) The amount of the license fee paid by the franchise holder.

(A) The name of the franchise holder;

(B) The dates on which the racing meet shall be held or conducted;

(C) The location of the place, track, or enclosure at which such racing meet is to be conducted; and

(D) The amount of the license fee paid by the franchise holder.

(2) No license shall be transferable, nor shall it apply to any place, track, or enclosure other than the one specified in the license.

(f) (1) If the commission refuses an application for a license, it shall notify the franchise holder. This notice must be in writing and sent by registered United States mail to the franchise holder and shall be mailed by the commission at least sixty (60) days before the date fixed in the application for the beginning of the racing meet. (2) In each instance the notice shall contain the reasons for refusal of the application. (3) No application shall be refused until after the franchise holder has been granted a hearing by the commission.

(1) If the commission refuses an application for a license, it shall notify the franchise holder. This notice must be in writing and sent by registered United States mail to the franchise holder and shall be mailed by the commission at least sixty (60) days before the date fixed in the application for the beginning of the racing meet.

(2) In each instance the notice shall contain the reasons for refusal of the application.

(3) No application shall be refused until after the franchise holder has been granted a hearing by the commission.

Acts 1957, No. 46, § 18; A.S.A. 1947, § 84-2744; Acts 2001, No. 1553, § 55.
Ark. Code Ann. § 23-111-102 — AR Code / Title 23 / Chapter 111 / Subchapter 1 / Section 23-111-102
Applicability
Status: in_force

Nothing contained in this chapter shall in any way be construed to apply to any other method or manner of racing except the racing of greyhounds as provided in this chapter. Acts 1957, No. 191, § 25; A.S.A. 1947, § 84-2840.

Nothing contained in this chapter shall in any way be construed to apply to any other method or manner of racing except the racing of greyhounds as provided in this chapter.

Acts 1957, No. 191, § 25; A.S.A. 1947, § 84-2840.
Ark. Code Ann. § 23-65-317 — AR Code / Title 23 / Chapter 65 / Subchapter 3 / Section 23-65-317
Revocation of surplus lines broker's license
Status: in_force

(a) The Insurance Commissioner shall revoke a surplus lines broker's license: (1) If the surplus lines broker fails to file his or her quarterly statement or fails to remit the tax as required by law; (2) If the surplus lines broker fails to maintain an office, keep records, or allow the commissioner to examine his or her records as required by law; or (3) For any cause for which an agent's license may be revoked. (b) The commissioner may suspend or revoke a license whenever he or she deems the suspension or revocation to be for the best interest of the people of this state. (c) The procedures provided by § 23-64-218 for the suspension or revocation of an agent's license shall be applicable to suspension or revocation of a surplus lines broker's license. (d) A surplus lines broker whose license has been revoked shall not be licensed within one (1) year thereafter or until payment of fines or delinquent taxes. Amended by Act 2013, No. 1133,§ 8, eff. 8/16/2013. Acts 1959, No. 148, § 203; A.S.A. 1947, § 66-2923; Acts 2001, No. 1555, § 9; 2011, No. 1055, § 2.

(a) The Insurance Commissioner shall revoke a surplus lines broker's license: (1) If the surplus lines broker fails to file his or her quarterly statement or fails to remit the tax as required by law; (2) If the surplus lines broker fails to maintain an office, keep records, or allow the commissioner to examine his or her records as required by law; or (3) For any cause for which an agent's license may be revoked.

(1) If the surplus lines broker fails to file his or her quarterly statement or fails to remit the tax as required by law;

(2) If the surplus lines broker fails to maintain an office, keep records, or allow the commissioner to examine his or her records as required by law; or

(3) For any cause for which an agent's license may be revoked.

(b) The commissioner may suspend or revoke a license whenever he or she deems the suspension or revocation to be for the best interest of the people of this state.

(c) The procedures provided by § 23-64-218 for the suspension or revocation of an agent's license shall be applicable to suspension or revocation of a surplus lines broker's license.

(d) A surplus lines broker whose license has been revoked shall not be licensed within one (1) year thereafter or until payment of fines or delinquent taxes.

Amended by Act 2013, No. 1133,§ 8, eff. 8/16/2013.

Acts 1959, No. 148, § 203; A.S.A. 1947, § 66-2923; Acts 2001, No. 1555, § 9; 2011, No. 1055, § 2.
Ark. Code Ann. § 23-79-126 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-126
Forms for proof of loss
Status: in_force

(a) An insurer shall furnish to any person claiming to have a loss under an insurance contract issued by the insurer forms of proof of loss for completion by the person, within twenty (20) days after a loss has been reported to the insurer, but the insurer shall not, by reason of the requirement to furnish forms, have any responsibility for or with reference to the completion of the proof or the manner of completion or attempted completion. (b) However, failure of an insurer to furnish the forms of proof of loss within twenty (20) days after a loss has been reported to the insurer shall constitute a waiver of proof of loss requirements, and the insurer may not thereafter require a proof of loss. (c) Further, the provisions of this section shall not be applicable to health, accident, or life insurers. Acts 1959, No. 148, § 292; 1977, No. 885, § 1; 1979, No. 768, § 1; A.S.A. 1947, § 66-3225.

(a) An insurer shall furnish to any person claiming to have a loss under an insurance contract issued by the insurer forms of proof of loss for completion by the person, within twenty (20) days after a loss has been reported to the insurer, but the insurer shall not, by reason of the requirement to furnish forms, have any responsibility for or with reference to the completion of the proof or the manner of completion or attempted completion.

(b) However, failure of an insurer to furnish the forms of proof of loss within twenty (20) days after a loss has been reported to the insurer shall constitute a waiver of proof of loss requirements, and the insurer may not thereafter require a proof of loss.

(c) Further, the provisions of this section shall not be applicable to health, accident, or life insurers.

Acts 1959, No. 148, § 292; 1977, No. 885, § 1; 1979, No. 768, § 1; A.S.A. 1947, § 66-3225.
Ark. Code Ann. § 23-61-101 — AR Code / Title 23 / Chapter 61 / Subchapter 1 / Section 23-61-101
State Insurance Department - Continuation - Assignment of space
Status: in_force

(a) (1) There is created the State Insurance Department. (2) The State Insurance Department is a division of the Department of Commerce. (b) Suitable space shall be assigned for the use of the State Insurance Department. (c) (1) (A) The purpose of the State Insurance Department is to serve and protect the public interest by the equitable enforcement of the state's laws and rules affecting the insurance industry. (B) The primary mission of the State Insurance Department shall be consumer protection through insurer solvency and market conduct regulation, and fraud prosecution and deterrence. (2) Nothing in this subsection shall be construed to limit the Insurance Commissioner's authority as enumerated in other provisions of the Arkansas Insurance Code. Amended by Act 2019, No. 315,§ 2610, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 590, eff. 7/1/2019. Acts 1959, No. 148, § 16; A.S.A. 1947, § 66-2101; Acts 2001, No. 610, § 1.

(a) (1) There is created the State Insurance Department. (2) The State Insurance Department is a division of the Department of Commerce.

(1) There is created the State Insurance Department.

(2) The State Insurance Department is a division of the Department of Commerce.

(b) Suitable space shall be assigned for the use of the State Insurance Department.

(c) (1) (A) The purpose of the State Insurance Department is to serve and protect the public interest by the equitable enforcement of the state's laws and rules affecting the insurance industry. (B) The primary mission of the State Insurance Department shall be consumer protection through insurer solvency and market conduct regulation, and fraud prosecution and deterrence. (2) Nothing in this subsection shall be construed to limit the Insurance Commissioner's authority as enumerated in other provisions of the Arkansas Insurance Code.

(1) (A) The purpose of the State Insurance Department is to serve and protect the public interest by the equitable enforcement of the state's laws and rules affecting the insurance industry. (B) The primary mission of the State Insurance Department shall be consumer protection through insurer solvency and market conduct regulation, and fraud prosecution and deterrence.

(A) The purpose of the State Insurance Department is to serve and protect the public interest by the equitable enforcement of the state's laws and rules affecting the insurance industry.

(B) The primary mission of the State Insurance Department shall be consumer protection through insurer solvency and market conduct regulation, and fraud prosecution and deterrence.

(2) Nothing in this subsection shall be construed to limit the Insurance Commissioner's authority as enumerated in other provisions of the Arkansas Insurance Code.

Amended by Act 2019, No. 315,§ 2610, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 590, eff. 7/1/2019.

Acts 1959, No. 148, § 16; A.S.A. 1947, § 66-2101; Acts 2001, No. 610, § 1.
Ark. Code Ann. § 23-2-421 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-421
Findings and orders of commission
Status: in_force

(a) The Arkansas Public Service Commission's decision shall be in sufficient detail to enable any court in which any action of the commission is involved to determine the controverted question presented by the proceeding. (b) A copy of the order certified under the seal of the commission shall be served upon the person or corporation against whom it runs, or his or her or its attorney. Notice thereof shall be given to the other parties to the proceedings or their attorneys. (c) (1) The order shall take effect and become operative immediately upon the service thereof, unless otherwise provided, and shall continue in force either for a period which may be designated therein or until changed or revoked by the commission, or vacated upon review. (2) If an order cannot, in the judgment of the commission, be complied with within the time fixed by the commission, the commission may grant and prescribe such additional time as in its judgment is reasonably necessary to comply with the order and may, on application and for good cause shown, extend the time for compliance fixed in the order. Acts 1935, No. 324, § 30; Pope's Dig., § 2093; Acts 1973, No. 231, § 2; 1980 (2nd Ex. Sess.), No. 4, § 2; A.S.A. 1947, § 73-229.

(a) The Arkansas Public Service Commission's decision shall be in sufficient detail to enable any court in which any action of the commission is involved to determine the controverted question presented by the proceeding.

(b) A copy of the order certified under the seal of the commission shall be served upon the person or corporation against whom it runs, or his or her or its attorney. Notice thereof shall be given to the other parties to the proceedings or their attorneys.

(c) (1) The order shall take effect and become operative immediately upon the service thereof, unless otherwise provided, and shall continue in force either for a period which may be designated therein or until changed or revoked by the commission, or vacated upon review. (2) If an order cannot, in the judgment of the commission, be complied with within the time fixed by the commission, the commission may grant and prescribe such additional time as in its judgment is reasonably necessary to comply with the order and may, on application and for good cause shown, extend the time for compliance fixed in the order.

(1) The order shall take effect and become operative immediately upon the service thereof, unless otherwise provided, and shall continue in force either for a period which may be designated therein or until changed or revoked by the commission, or vacated upon review.

(2) If an order cannot, in the judgment of the commission, be complied with within the time fixed by the commission, the commission may grant and prescribe such additional time as in its judgment is reasonably necessary to comply with the order and may, on application and for good cause shown, extend the time for compliance fixed in the order.

Acts 1935, No. 324, § 30; Pope's Dig., § 2093; Acts 1973, No. 231, § 2; 1980 (2nd Ex. Sess.), No. 4, § 2; A.S.A. 1947, § 73-229.
Ark. Code Ann. § 23-35-704 — AR Code / Title 23 / Chapter 35 / Subchapter 7 / Section 23-35-704
Suspension of operations - Involuntary liquidation
Status: in_force

(a) If it shall appear that any credit union is bankrupt or insolvent, that it has willfully violated any of the provisions of this chapter, or that it is operating in an unsafe or unsound manner, the State Credit Union Supervisor shall issue an order temporarily suspending the credit union's operations. The board of directors of the credit union shall be given notice by registered mail of the suspension, which notice shall include a list of the reasons for the suspension and a list of the specific violations of this chapter. (b) Upon receipt of the suspension notice, the credit union shall immediately cease all operations. (c) The directors of the credit union shall then file a reply to the suspension notice with the supervisor within fifteen (15) days. They may request a hearing to present a plan of corrective actions proposed if they desire to continue operations, or they may request that the credit union be declared insolvent and that a liquidating agent be appointed. (d) (1) If the credit union fails to answer the suspension notice or request a hearing, the supervisor may then revoke the credit union's charter, appoint a liquidating agent, and liquidate the credit union in accordance with § 23-35-705 . (2) (A) If the supervisor, after issuing notice of suspension and providing opportunity for a hearing, rejects the credit union's plan to continue operations, the supervisor may issue a notice of involuntary liquidation and appoint a liquidating agent. (B) The credit union may request a stay of execution of this action by appealing to the circuit court of the jurisdiction in which the credit union is located. (C) Involuntary liquidation may not be ordered prior to following the suspension procedures outlined in this section. Acts 1971, No. 132, §§ 37, 38; A.S.A. 1947, §§ 67-937, 67-938.

(a) If it shall appear that any credit union is bankrupt or insolvent, that it has willfully violated any of the provisions of this chapter, or that it is operating in an unsafe or unsound manner, the State Credit Union Supervisor shall issue an order temporarily suspending the credit union's operations. The board of directors of the credit union shall be given notice by registered mail of the suspension, which notice shall include a list of the reasons for the suspension and a list of the specific violations of this chapter.

(b) Upon receipt of the suspension notice, the credit union shall immediately cease all operations.

(c) The directors of the credit union shall then file a reply to the suspension notice with the supervisor within fifteen (15) days. They may request a hearing to present a plan of corrective actions proposed if they desire to continue operations, or they may request that the credit union be declared insolvent and that a liquidating agent be appointed.

(d) (1) If the credit union fails to answer the suspension notice or request a hearing, the supervisor may then revoke the credit union's charter, appoint a liquidating agent, and liquidate the credit union in accordance with § 23-35-705 . (2) (A) If the supervisor, after issuing notice of suspension and providing opportunity for a hearing, rejects the credit union's plan to continue operations, the supervisor may issue a notice of involuntary liquidation and appoint a liquidating agent. (B) The credit union may request a stay of execution of this action by appealing to the circuit court of the jurisdiction in which the credit union is located. (C) Involuntary liquidation may not be ordered prior to following the suspension procedures outlined in this section.

(1) If the credit union fails to answer the suspension notice or request a hearing, the supervisor may then revoke the credit union's charter, appoint a liquidating agent, and liquidate the credit union in accordance with § 23-35-705 .

(2) (A) If the supervisor, after issuing notice of suspension and providing opportunity for a hearing, rejects the credit union's plan to continue operations, the supervisor may issue a notice of involuntary liquidation and appoint a liquidating agent. (B) The credit union may request a stay of execution of this action by appealing to the circuit court of the jurisdiction in which the credit union is located. (C) Involuntary liquidation may not be ordered prior to following the suspension procedures outlined in this section.

(A) If the supervisor, after issuing notice of suspension and providing opportunity for a hearing, rejects the credit union's plan to continue operations, the supervisor may issue a notice of involuntary liquidation and appoint a liquidating agent.

(B) The credit union may request a stay of execution of this action by appealing to the circuit court of the jurisdiction in which the credit union is located.

(C) Involuntary liquidation may not be ordered prior to following the suspension procedures outlined in this section.

Acts 1971, No. 132, §§ 37, 38; A.S.A. 1947, §§ 67-937, 67-938.
Ark. Code Ann. § 23-79-119 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-119
Construction of policies
Status: in_force

(a) Every insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy and as amplified, extended, or modified by any rider, endorsement, or application made a part of the policy. (b) All insurance contracts that are issued for specific terms and that may be renewed for subsequent terms at the option of the insured or the insurer shall be construed from and after their respective dates of renewal as being new contracts to the extent of having incorporated therein all applicable public policy that by statute or rule may have become applicable to those contracts in the interval between: (1) Original issuance or last renewal; and (2) The renewal following the newly applicable statement of public policy. (c) (1) Except as provided in this section, a health insurance issuer that provides individual health insurance coverage for major medical benefits to an individual shall renew or continue in force that coverage at the option of the individual. (2) GENERAL EXCEPTIONS. A health insurance issuer may nonrenew or discontinue health insurance coverage providing major medical benefits for an individual in the individual market based on only one (1) or more of the following: (A) NONPAYMENT OF THE PREMIUM. The individual has failed to pay premiums or contributions under the terms of the health insurance coverage or the issuer has not received timely premium payments; (B) FRAUD. The individual has performed an act or practice that constitutes fraud or made an intentional misrepresentation of material fact under the terms of the coverage; (C) TERMINATION OF THE PLAN. The issuer is ceasing to offer major medical coverage in the individual market under applicable state or federal law; (D) MOVEMENT OUTSIDE THE SERVICE AREA. In the case of a health insurance issuer that offers health insurance for major medical coverage in the market through a network plan, the individual no longer resides, lives, or works in the service area or in an area for which the issuer is authorized to do business, but only if the individual major medical coverage is terminated under this subdivision (c)(2)(D) uniformly without regard to any health status-related factor of covered individuals; and (E) ASSOCIATION MEMBERSHIP CEASES. In the case of health insurance for major medical coverage that is made available in the individual market only through one (1) or more bona fide associations, the membership of the individual in the association, as the basis on which the coverage is provided, ceases but only if the major medical coverage is terminated under this subdivision (c)(2)(E) uniformly without regard to any health status-related factor of covered individuals. (3) REQUIREMENTS FOR UNIFORM TERMINATION OF COVERAGE - PARTICULAR TYPE OF COVERAGE NOT OFFERED. In the case in which an insurer decides to discontinue offering a particular type of health insurance providing major medical coverage offered to the individual market, coverage of this type may be discontinued by the issuer only if: (A) The issuer provides to each covered individual with coverage of this type in the market notice of the discontinuation at least ninety (90) days before the date of the discontinuation of the coverage; (B) The issuer offers to each individual in the individual market with coverage of this type the option to purchase any other individual health insurance coverage currently being offered by the issuer for individuals in the market; and (C) In exercising the option to discontinue coverage of this type and in offering the option of coverage under subdivision (c)(3)(B) of this section, the issuer acts uniformly without regard to any health status-related factor of enrolled individuals or individuals who may become eligible for the coverage. (4) DISCONTINUANCE OF SUCH COVERAGE - IN GENERAL. Subject to this section, in any case in which a health insurance issuer elects to discontinue offering all health insurance providing major medical coverage in the individual market in this state, health insurance coverage may be discontinued by the issuer only if the issuer provides to the Insurance Commissioner and to each individual notice of the discontinuance at least one hundred eighty (180) days before the date of expiration of the coverage. (5) PROHIBITION ON MARKET REENTRY. In the case of a discontinuation in the individual market under this section, the issuer may not provide for the issuance of any health insurance providing major medical coverage in the market and state involved during the five-year period beginning on the date of the discontinuation of the last health insurance coverage not so renewed. (6) EXCEPTION FOR UNIFORM MODIFICATION OF COVERAGE. At the time of coverage renewal, a health insurance issuer may modify the health insurance providing major medical coverage for a policy form offered to individuals in the individual market so long as the modification is consistent with state law and effective on a uniform basis among all individuals with that policy form. (7) APPLICATION TO COVERAGE OFFERED ONLY THROUGH ASSOCIATIONS. In applying this section in the case of health insurance providing major medical coverage that is made available by a health insurance issuer in the individual market through only one (1) or more associations, a reference to an "individual" includes a reference to such an association of which the individual is a member. (8) For purposes of this section, the terms or phrases "health insurance issuer", "health insurance coverage" or "coverage", "Insurance Commissioner", "network plan", "health status-related factor", "bona fide association", "individual market", and "eligible individual" shall have the same meaning as defined in § 23-86-303 . (d) The commissioner may promulgate rules that are necessary to implement and enforce this section for the protection of policyholders. Amended by Act 2019, No. 315,§ 2706, eff. 7/24/2019. Acts 1959, No. 148, § 285; 1981, No. 520, § 1; A.S.A. 1947, § 66-3218; Acts 1993, No. 901, § 40; 1999, No. 881, § 13; 2011, No. 886, § 1.

(a) Every insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy and as amplified, extended, or modified by any rider, endorsement, or application made a part of the policy.

(b) All insurance contracts that are issued for specific terms and that may be renewed for subsequent terms at the option of the insured or the insurer shall be construed from and after their respective dates of renewal as being new contracts to the extent of having incorporated therein all applicable public policy that by statute or rule may have become applicable to those contracts in the interval between: (1) Original issuance or last renewal; and (2) The renewal following the newly applicable statement of public policy.

(1) Original issuance or last renewal; and

(2) The renewal following the newly applicable statement of public policy.

(c) (1) Except as provided in this section, a health insurance issuer that provides individual health insurance coverage for major medical benefits to an individual shall renew or continue in force that coverage at the option of the individual. (2) GENERAL EXCEPTIONS. A health insurance issuer may nonrenew or discontinue health insurance coverage providing major medical benefits for an individual in the individual market based on only one (1) or more of the following: (A) NONPAYMENT OF THE PREMIUM. The individual has failed to pay premiums or contributions under the terms of the health insurance coverage or the issuer has not received timely premium payments; (B) FRAUD. The individual has performed an act or practice that constitutes fraud or made an intentional misrepresentation of material fact under the terms of the coverage; (C) TERMINATION OF THE PLAN. The issuer is ceasing to offer major medical coverage in the individual market under applicable state or federal law; (D) MOVEMENT OUTSIDE THE SERVICE AREA. In the case of a health insurance issuer that offers health insurance for major medical coverage in the market through a network plan, the individual no longer resides, lives, or works in the service area or in an area for which the issuer is authorized to do business, but only if the individual major medical coverage is terminated under this subdivision (c)(2)(D) uniformly without regard to any health status-related factor of covered individuals; and (E) ASSOCIATION MEMBERSHIP CEASES. In the case of health insurance for major medical coverage that is made available in the individual market only through one (1) or more bona fide associations, the membership of the individual in the association, as the basis on which the coverage is provided, ceases but only if the major medical coverage is terminated under this subdivision (c)(2)(E) uniformly without regard to any health status-related factor of covered individuals. (3) REQUIREMENTS FOR UNIFORM TERMINATION OF COVERAGE - PARTICULAR TYPE OF COVERAGE NOT OFFERED. In the case in which an insurer decides to discontinue offering a particular type of health insurance providing major medical coverage offered to the individual market, coverage of this type may be discontinued by the issuer only if: (A) The issuer provides to each covered individual with coverage of this type in the market notice of the discontinuation at least ninety (90) days before the date of the discontinuation of the coverage; (B) The issuer offers to each individual in the individual market with coverage of this type the option to purchase any other individual health insurance coverage currently being offered by the issuer for individuals in the market; and (C) In exercising the option to discontinue coverage of this type and in offering the option of coverage under subdivision (c)(3)(B) of this section, the issuer acts uniformly without regard to any health status-related factor of enrolled individuals or individuals who may become eligible for the coverage. (4) DISCONTINUANCE OF SUCH COVERAGE - IN GENERAL. Subject to this section, in any case in which a health insurance issuer elects to discontinue offering all health insurance providing major medical coverage in the individual market in this state, health insurance coverage may be discontinued by the issuer only if the issuer provides to the Insurance Commissioner and to each individual notice of the discontinuance at least one hundred eighty (180) days before the date of expiration of the coverage. (5) PROHIBITION ON MARKET REENTRY. In the case of a discontinuation in the individual market under this section, the issuer may not provide for the issuance of any health insurance providing major medical coverage in the market and state involved during the five-year period beginning on the date of the discontinuation of the last health insurance coverage not so renewed. (6) EXCEPTION FOR UNIFORM MODIFICATION OF COVERAGE. At the time of coverage renewal, a health insurance issuer may modify the health insurance providing major medical coverage for a policy form offered to individuals in the individual market so long as the modification is consistent with state law and effective on a uniform basis among all individuals with that policy form. (7) APPLICATION TO COVERAGE OFFERED ONLY THROUGH ASSOCIATIONS. In applying this section in the case of health insurance providing major medical coverage that is made available by a health insurance issuer in the individual market through only one (1) or more associations, a reference to an "individual" includes a reference to such an association of which the individual is a member. (8) For purposes of this section, the terms or phrases "health insurance issuer", "health insurance coverage" or "coverage", "Insurance Commissioner", "network plan", "health status-related factor", "bona fide association", "individual market", and "eligible individual" shall have the same meaning as defined in § 23-86-303 .

(1) Except as provided in this section, a health insurance issuer that provides individual health insurance coverage for major medical benefits to an individual shall renew or continue in force that coverage at the option of the individual.

(2) GENERAL EXCEPTIONS. A health insurance issuer may nonrenew or discontinue health insurance coverage providing major medical benefits for an individual in the individual market based on only one (1) or more of the following: (A) NONPAYMENT OF THE PREMIUM. The individual has failed to pay premiums or contributions under the terms of the health insurance coverage or the issuer has not received timely premium payments; (B) FRAUD. The individual has performed an act or practice that constitutes fraud or made an intentional misrepresentation of material fact under the terms of the coverage; (C) TERMINATION OF THE PLAN. The issuer is ceasing to offer major medical coverage in the individual market under applicable state or federal law; (D) MOVEMENT OUTSIDE THE SERVICE AREA. In the case of a health insurance issuer that offers health insurance for major medical coverage in the market through a network plan, the individual no longer resides, lives, or works in the service area or in an area for which the issuer is authorized to do business, but only if the individual major medical coverage is terminated under this subdivision (c)(2)(D) uniformly without regard to any health status-related factor of covered individuals; and (E) ASSOCIATION MEMBERSHIP CEASES. In the case of health insurance for major medical coverage that is made available in the individual market only through one (1) or more bona fide associations, the membership of the individual in the association, as the basis on which the coverage is provided, ceases but only if the major medical coverage is terminated under this subdivision (c)(2)(E) uniformly without regard to any health status-related factor of covered individuals.

(A) NONPAYMENT OF THE PREMIUM. The individual has failed to pay premiums or contributions under the terms of the health insurance coverage or the issuer has not received timely premium payments;

(B) FRAUD. The individual has performed an act or practice that constitutes fraud or made an intentional misrepresentation of material fact under the terms of the coverage;

(C) TERMINATION OF THE PLAN. The issuer is ceasing to offer major medical coverage in the individual market under applicable state or federal law;

(D) MOVEMENT OUTSIDE THE SERVICE AREA. In the case of a health insurance issuer that offers health insurance for major medical coverage in the market through a network plan, the individual no longer resides, lives, or works in the service area or in an area for which the issuer is authorized to do business, but only if the individual major medical coverage is terminated under this subdivision (c)(2)(D) uniformly without regard to any health status-related factor of covered individuals; and

(E) ASSOCIATION MEMBERSHIP CEASES. In the case of health insurance for major medical coverage that is made available in the individual market only through one (1) or more bona fide associations, the membership of the individual in the association, as the basis on which the coverage is provided, ceases but only if the major medical coverage is terminated under this subdivision (c)(2)(E) uniformly without regard to any health status-related factor of covered individuals.

(3) REQUIREMENTS FOR UNIFORM TERMINATION OF COVERAGE - PARTICULAR TYPE OF COVERAGE NOT OFFERED. In the case in which an insurer decides to discontinue offering a particular type of health insurance providing major medical coverage offered to the individual market, coverage of this type may be discontinued by the issuer only if: (A) The issuer provides to each covered individual with coverage of this type in the market notice of the discontinuation at least ninety (90) days before the date of the discontinuation of the coverage; (B) The issuer offers to each individual in the individual market with coverage of this type the option to purchase any other individual health insurance coverage currently being offered by the issuer for individuals in the market; and (C) In exercising the option to discontinue coverage of this type and in offering the option of coverage under subdivision (c)(3)(B) of this section, the issuer acts uniformly without regard to any health status-related factor of enrolled individuals or individuals who may become eligible for the coverage.

(A) The issuer provides to each covered individual with coverage of this type in the market notice of the discontinuation at least ninety (90) days before the date of the discontinuation of the coverage;

(B) The issuer offers to each individual in the individual market with coverage of this type the option to purchase any other individual health insurance coverage currently being offered by the issuer for individuals in the market; and

(C) In exercising the option to discontinue coverage of this type and in offering the option of coverage under subdivision (c)(3)(B) of this section, the issuer acts uniformly without regard to any health status-related factor of enrolled individuals or individuals who may become eligible for the coverage.

(4) DISCONTINUANCE OF SUCH COVERAGE - IN GENERAL. Subject to this section, in any case in which a health insurance issuer elects to discontinue offering all health insurance providing major medical coverage in the individual market in this state, health insurance coverage may be discontinued by the issuer only if the issuer provides to the Insurance Commissioner and to each individual notice of the discontinuance at least one hundred eighty (180) days before the date of expiration of the coverage.

(5) PROHIBITION ON MARKET REENTRY. In the case of a discontinuation in the individual market under this section, the issuer may not provide for the issuance of any health insurance providing major medical coverage in the market and state involved during the five-year period beginning on the date of the discontinuation of the last health insurance coverage not so renewed.

(6) EXCEPTION FOR UNIFORM MODIFICATION OF COVERAGE. At the time of coverage renewal, a health insurance issuer may modify the health insurance providing major medical coverage for a policy form offered to individuals in the individual market so long as the modification is consistent with state law and effective on a uniform basis among all individuals with that policy form.

(7) APPLICATION TO COVERAGE OFFERED ONLY THROUGH ASSOCIATIONS. In applying this section in the case of health insurance providing major medical coverage that is made available by a health insurance issuer in the individual market through only one (1) or more associations, a reference to an "individual" includes a reference to such an association of which the individual is a member.

(8) For purposes of this section, the terms or phrases "health insurance issuer", "health insurance coverage" or "coverage", "Insurance Commissioner", "network plan", "health status-related factor", "bona fide association", "individual market", and "eligible individual" shall have the same meaning as defined in § 23-86-303 .

(d) The commissioner may promulgate rules that are necessary to implement and enforce this section for the protection of policyholders.

Amended by Act 2019, No. 315,§ 2706, eff. 7/24/2019.

Acts 1959, No. 148, § 285; 1981, No. 520, § 1; A.S.A. 1947, § 66-3218; Acts 1993, No. 901, § 40; 1999, No. 881, § 13; 2011, No. 886, § 1.