Ark. Code Ann. § 23-111-203 — AR Code / Title 23 / Chapter 111 / Subchapter 2 / Section 23-111-203
Powers and duties generally
Status: in_force

(a) Subject to the limitations and conditions as in this chapter or other applicable law provided, the Arkansas Racing Commission shall have sole jurisdiction over the business and the sport of greyhound racing in the state where the racing is permitted for any stake, purse, or reward. (b) In exercising the jurisdiction as provided in subsection (a) of this section, but without necessarily being limited to the following, it shall be the function, power, and duty of the commission to: (1) Grant franchises to conduct greyhound races; (2) Approve dates for each racing meet and issue permits therefor; (3) Issue licenses to: (A) An attendant; (B) A franchise holder's employee; (C) A greyhound handler; (D) A kennel employee; (E) A kennel helper; (F) A greyhound owner; (G) A greyhound trainer; (H) An assistant greyhound trainer; (I) A veterinarian; (J) A veterinarian assistant; and (K) An authorized agent, contractor, vendor, or other person employed or involved with the care of greyhounds or greyhound racing on the grounds of the licensed racetrack; (4) Establish by rule the license fees, not to exceed one hundred fifty dollars ($150) per applicant, for a license issued under subdivision (b)(3) of this section; (5) Collect and deposit into the State Treasury all fees for franchises and licenses, all taxes and other imposts, and all other moneys due the State of Arkansas in relation to greyhound racing; (6) Hear and determine all matters properly coming before the commission and grant rehearings thereon; and (7) (A) Take other action, not inconsistent with law, as it may deem necessary or desirable to supervise and regulate and to effectively control in the public interest greyhound racing in the State of Arkansas, including without limitation: (i) Imposing fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission; (ii) Issuing orders; (iii) Ordering the forfeiture of purse money won by a disqualified greyhound; (iv) Prescribing conditions under which greyhound racing shall be conducted by a franchise holder; (v) Promulgating rules; (vi) Redistributing forfeited purse money; and (vii) Suspending or revoking licenses. (B) The commission shall exercise its authority under this subsection in a reasonable manner. (C) The holder of a franchise or a taxpayer may appeal an action of the commission to the Pulaski County Circuit Court. (c) (1) (A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a greyhound owner or trainer. (B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks. (C) After completion of the statewide criminal and noncriminal background checks, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check. (2) The applicant shall sign a release that authorizes the: (A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and (B) Release of the results of the statewide criminal and noncriminal background checks and the national criminal history record check to the commission. (3) (A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission. (B) The commission may disclose any information under subdivision (c)(3)(A) of this section to the applicant or the applicant's duly authorized representative. (4) No statewide criminal and noncriminal background checks or national criminal history record check shall be required of applicants for certain classes of licenses that have been exempted from investigation by rules promulgated by the commission. (5) The commission shall promulgate rules to implement this subsection. Amended by Act 2017, No. 425,§ 4, eff. 8/1/2017. Amended by Act 2013, No. 350,§ 4, eff. 3/14/2013. Amended by Act 2013, No. 350,§ 3, eff. 3/14/2013. Acts 1957, No. 191, § 4; A.S.A. 1947, § 84-2819; Acts 2007, No. 856, § 3.

(a) Subject to the limitations and conditions as in this chapter or other applicable law provided, the Arkansas Racing Commission shall have sole jurisdiction over the business and the sport of greyhound racing in the state where the racing is permitted for any stake, purse, or reward.

(b) In exercising the jurisdiction as provided in subsection (a) of this section, but without necessarily being limited to the following, it shall be the function, power, and duty of the commission to: (1) Grant franchises to conduct greyhound races; (2) Approve dates for each racing meet and issue permits therefor; (3) Issue licenses to: (A) An attendant; (B) A franchise holder's employee; (C) A greyhound handler; (D) A kennel employee; (E) A kennel helper; (F) A greyhound owner; (G) A greyhound trainer; (H) An assistant greyhound trainer; (I) A veterinarian; (J) A veterinarian assistant; and (K) An authorized agent, contractor, vendor, or other person employed or involved with the care of greyhounds or greyhound racing on the grounds of the licensed racetrack; (4) Establish by rule the license fees, not to exceed one hundred fifty dollars ($150) per applicant, for a license issued under subdivision (b)(3) of this section; (5) Collect and deposit into the State Treasury all fees for franchises and licenses, all taxes and other imposts, and all other moneys due the State of Arkansas in relation to greyhound racing; (6) Hear and determine all matters properly coming before the commission and grant rehearings thereon; and (7) (A) Take other action, not inconsistent with law, as it may deem necessary or desirable to supervise and regulate and to effectively control in the public interest greyhound racing in the State of Arkansas, including without limitation: (i) Imposing fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission; (ii) Issuing orders; (iii) Ordering the forfeiture of purse money won by a disqualified greyhound; (iv) Prescribing conditions under which greyhound racing shall be conducted by a franchise holder; (v) Promulgating rules; (vi) Redistributing forfeited purse money; and (vii) Suspending or revoking licenses. (B) The commission shall exercise its authority under this subsection in a reasonable manner. (C) The holder of a franchise or a taxpayer may appeal an action of the commission to the Pulaski County Circuit Court.

(1) Grant franchises to conduct greyhound races;

(2) Approve dates for each racing meet and issue permits therefor;

(3) Issue licenses to: (A) An attendant; (B) A franchise holder's employee; (C) A greyhound handler; (D) A kennel employee; (E) A kennel helper; (F) A greyhound owner; (G) A greyhound trainer; (H) An assistant greyhound trainer; (I) A veterinarian; (J) A veterinarian assistant; and (K) An authorized agent, contractor, vendor, or other person employed or involved with the care of greyhounds or greyhound racing on the grounds of the licensed racetrack;

(A) An attendant;

(B) A franchise holder's employee;

(C) A greyhound handler;

(D) A kennel employee;

(E) A kennel helper;

(F) A greyhound owner;

(G) A greyhound trainer;

(H) An assistant greyhound trainer;

(I) A veterinarian;

(J) A veterinarian assistant; and

(K) An authorized agent, contractor, vendor, or other person employed or involved with the care of greyhounds or greyhound racing on the grounds of the licensed racetrack;

(4) Establish by rule the license fees, not to exceed one hundred fifty dollars ($150) per applicant, for a license issued under subdivision (b)(3) of this section;

(5) Collect and deposit into the State Treasury all fees for franchises and licenses, all taxes and other imposts, and all other moneys due the State of Arkansas in relation to greyhound racing;

(6) Hear and determine all matters properly coming before the commission and grant rehearings thereon; and

(7) (A) Take other action, not inconsistent with law, as it may deem necessary or desirable to supervise and regulate and to effectively control in the public interest greyhound racing in the State of Arkansas, including without limitation: (i) Imposing fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission; (ii) Issuing orders; (iii) Ordering the forfeiture of purse money won by a disqualified greyhound; (iv) Prescribing conditions under which greyhound racing shall be conducted by a franchise holder; (v) Promulgating rules; (vi) Redistributing forfeited purse money; and (vii) Suspending or revoking licenses. (B) The commission shall exercise its authority under this subsection in a reasonable manner. (C) The holder of a franchise or a taxpayer may appeal an action of the commission to the Pulaski County Circuit Court.

(A) Take other action, not inconsistent with law, as it may deem necessary or desirable to supervise and regulate and to effectively control in the public interest greyhound racing in the State of Arkansas, including without limitation: (i) Imposing fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission; (ii) Issuing orders; (iii) Ordering the forfeiture of purse money won by a disqualified greyhound; (iv) Prescribing conditions under which greyhound racing shall be conducted by a franchise holder; (v) Promulgating rules; (vi) Redistributing forfeited purse money; and (vii) Suspending or revoking licenses.

(i) Imposing fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission;

(ii) Issuing orders;

(iii) Ordering the forfeiture of purse money won by a disqualified greyhound;

(iv) Prescribing conditions under which greyhound racing shall be conducted by a franchise holder;

(v) Promulgating rules;

(vi) Redistributing forfeited purse money; and

(vii) Suspending or revoking licenses.

(B) The commission shall exercise its authority under this subsection in a reasonable manner.

(C) The holder of a franchise or a taxpayer may appeal an action of the commission to the Pulaski County Circuit Court.

(c) (1) (A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a greyhound owner or trainer. (B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks. (C) After completion of the statewide criminal and noncriminal background checks, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check. (2) The applicant shall sign a release that authorizes the: (A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and (B) Release of the results of the statewide criminal and noncriminal background checks and the national criminal history record check to the commission. (3) (A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission. (B) The commission may disclose any information under subdivision (c)(3)(A) of this section to the applicant or the applicant's duly authorized representative. (4) No statewide criminal and noncriminal background checks or national criminal history record check shall be required of applicants for certain classes of licenses that have been exempted from investigation by rules promulgated by the commission. (5) The commission shall promulgate rules to implement this subsection.

(1) (A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a greyhound owner or trainer. (B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks. (C) After completion of the statewide criminal and noncriminal background checks, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check.

(A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a greyhound owner or trainer.

(B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks.

(C) After completion of the statewide criminal and noncriminal background checks, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check.

(2) The applicant shall sign a release that authorizes the: (A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and (B) Release of the results of the statewide criminal and noncriminal background checks and the national criminal history record check to the commission.

(A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and

(B) Release of the results of the statewide criminal and noncriminal background checks and the national criminal history record check to the commission.

(3) (A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission. (B) The commission may disclose any information under subdivision (c)(3)(A) of this section to the applicant or the applicant's duly authorized representative.

(A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission.

(B) The commission may disclose any information under subdivision (c)(3)(A) of this section to the applicant or the applicant's duly authorized representative.

(4) No statewide criminal and noncriminal background checks or national criminal history record check shall be required of applicants for certain classes of licenses that have been exempted from investigation by rules promulgated by the commission.

(5) The commission shall promulgate rules to implement this subsection.

Amended by Act 2017, No. 425,§ 4, eff. 8/1/2017.

Amended by Act 2013, No. 350,§ 4, eff. 3/14/2013.

Amended by Act 2013, No. 350,§ 3, eff. 3/14/2013.

Acts 1957, No. 191, § 4; A.S.A. 1947, § 84-2819; Acts 2007, No. 856, § 3.
Ark. Code Ann. § 23-90-113 — AR Code / Title 23 / Chapter 90 / Section 23-90-113
Failure to pay assessment
Status: in_force

(a) After notice and hearing, the Insurance Commissioner may suspend or revoke the certificate of authority to transact business in this state of any insurer who fails to pay an assessment when due. (b) As an alternative, the commissioner may levy a fine on any member insurer which fails to pay an assessment when due. The fine shall not exceed one hundred dollars ($100) per day. (c) Any insurer whose certificate of authority to do business in this state is cancelled or surrendered shall be liable for any unpaid assessments made prior to the date of the cancellation or surrender. Acts 1977, No. 871, § 8; A.S.A. 1947, § 66-5508; Acts 1987, No. 738, § 4.

(a) After notice and hearing, the Insurance Commissioner may suspend or revoke the certificate of authority to transact business in this state of any insurer who fails to pay an assessment when due.

(b) As an alternative, the commissioner may levy a fine on any member insurer which fails to pay an assessment when due. The fine shall not exceed one hundred dollars ($100) per day.

(c) Any insurer whose certificate of authority to do business in this state is cancelled or surrendered shall be liable for any unpaid assessments made prior to the date of the cancellation or surrender.

Acts 1977, No. 871, § 8; A.S.A. 1947, § 66-5508; Acts 1987, No. 738, § 4.
Ark. Code Ann. § 23-79-1504 — AR Code / Title 23 / Chapter 79 / Subchapter 15 / Section 23-79-1504
Title
Status: in_force

This subchapter shall be known and may be cited as "Wendelyn's Craniofacial Law - Craniofacial Coverage". Added by Act 2021, No. 955,§ 1, eff. 4/27/2021.

This subchapter shall be known and may be cited as "Wendelyn's Craniofacial Law - Craniofacial Coverage".

Added by Act 2021, No. 955,§ 1, eff. 4/27/2021.
Ark. Code Ann. § 23-3-103 — AR Code / Title 23 / Chapter 3 / Subchapter 1 / Section 23-3-103
Stocks, bonds, notes, etc., and creation of liens - Regulation by commissions
Status: in_force

(a) (1) The power of public utilities to issue stocks, stock certificates, bonds, notes, and other evidences of indebtedness in case of public utilities incorporated under the laws of this state and to create liens on property in this state in case of public utilities incorporated under the laws of any state or foreign country is a special privilege, the right of supervision, regulation, restriction, and control of which is, and shall continue to be, vested in the state. (2) The power of public utilities described in subdivision (a)(1) of this section shall be exercised as provided by law and under such rules as the Arkansas Public Service Commission may prescribe. (b) In instances where the public utility is also a regional transmission organization that is jurisdictional to the Federal Energy Regulatory Commission and the debt is authorized by the Federal Energy Regulatory Commission and does not create a lien on property in this state, no commission authorization is required. Amended by Act 2019, No. 315,§ 2378, eff. 7/24/2019. Amended by Act 2015, No. 899,§ 1, eff. 7/22/2015. Acts 1935, No. 324, § 58; Pope's Dig., § 2118; A.S.A. 1947, § 73-254.

(a) (1) The power of public utilities to issue stocks, stock certificates, bonds, notes, and other evidences of indebtedness in case of public utilities incorporated under the laws of this state and to create liens on property in this state in case of public utilities incorporated under the laws of any state or foreign country is a special privilege, the right of supervision, regulation, restriction, and control of which is, and shall continue to be, vested in the state. (2) The power of public utilities described in subdivision (a)(1) of this section shall be exercised as provided by law and under such rules as the Arkansas Public Service Commission may prescribe.

(1) The power of public utilities to issue stocks, stock certificates, bonds, notes, and other evidences of indebtedness in case of public utilities incorporated under the laws of this state and to create liens on property in this state in case of public utilities incorporated under the laws of any state or foreign country is a special privilege, the right of supervision, regulation, restriction, and control of which is, and shall continue to be, vested in the state.

(2) The power of public utilities described in subdivision (a)(1) of this section shall be exercised as provided by law and under such rules as the Arkansas Public Service Commission may prescribe.

(b) In instances where the public utility is also a regional transmission organization that is jurisdictional to the Federal Energy Regulatory Commission and the debt is authorized by the Federal Energy Regulatory Commission and does not create a lien on property in this state, no commission authorization is required.

Amended by Act 2019, No. 315,§ 2378, eff. 7/24/2019.

Amended by Act 2015, No. 899,§ 1, eff. 7/22/2015.

Acts 1935, No. 324, § 58; Pope's Dig., § 2118; A.S.A. 1947, § 73-254.
Ark. Code Ann. § 23-94-203 — AR Code / Title 23 / Chapter 94 / Subchapter 2 / Section 23-94-203
Definitions
Status: in_force

As used in this subchapter: (1) "Commissioner" means the Insurance Commissioner of this state or the commissioner, director, or superintendent of insurance in any other state; (2) "Completed operations liability" means liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by: (A) Any person who performs that work; or (B) Any person who hires an independent contractor to perform that work; but shall include liability for activities which are completed or abandoned before the date of the occurrence giving rise to the liability; (3) "Department" means the State Insurance Department; (4) "Domicile", for purposes of determining the state in which a purchasing group is domiciled, means: (A) For a corporation, the state in which the purchasing group is incorporated; and (B) For an unincorporated entity, the state of its principal place of business; (5) "Hazardous financial condition" means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able: (A) To meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or (B) To pay other obligations in the normal course of business; (6) "Insurance" means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this state; (7) "Liability": (A) Means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injuries to other persons, damage to their property, or other damage or loss to such other persons resulting from or arising out of: (i) Any business, whether profit or nonprofit, trade, product, services, including professional services, premises, or operations; or (ii) Any activity of any state or local government, or any agency or political subdivision thereof; and (B) Does not include personal risk liability and an employer's liability with respect to its employees other than legal liability under the Employers' Liability Act, 45 U.S.C. § 51 et seq.; (8) "Personal risk liability" means liability for damages because of injury to any person, damage to property, or other loss or damage resulting from any personal, familial, or household responsibilities or activities, rather than from responsibilities or activities referred to in subdivision (7) of this section; (9) "Plan of operation" or "feasibility study" means an analysis which presents the expected activities and results of a risk retention group including, at a minimum: (A) Information sufficient to verify that its members are engaged in businesses or activities similar or related with respect to the liability to which such members are exposed by virtue of any related, similar or common business, trade, product, services, premises, or operations; (B) For each state in which it intends to operate, the coverages, deductibles, coverage limits, rates, and rating classification systems for each line of insurance the group intends to offer; (C) Historical and expected loss experience of the proposed members and national experience of similar exposures to the extent that this experience is reasonably available; (D) Pro forma financial statements and projections; (E) Appropriate opinions by a qualified, independent casualty actuary, including a determination of minimum premium or participation levels required to commence operations and to prevent a hazardous financial condition; (F) Identification of management, underwriting and claims procedures, marketing methods, managerial oversight methods, investment policies, and reinsurance agreements; (G) Identification of each state in which the risk retention group has obtained, or sought to obtain, a charter and license, and a description of its status in each such state; and (H) Such other matters as may be prescribed by the commissioner of the state in which the risk retention group is chartered for liability insurance companies authorized by the insurance laws of that state; (10) "Product liability" means liability for damages because of any personal injury, death, emotional harm, consequential economic damage, or property damage, including damages resulting from the loss of use of property, arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product, but does not include the liability of any person for those damages if the product involved was in the possession of such a person when the incident giving rise to the claim occurred; (11) "Purchasing group" means any group which: (A) Has as one of its purposes the purchase of liability insurance on a group basis; (B) Purchases such insurance only for its group members and only to cover their similar or related liability exposure, as described in subdivision (11)(C) of this section; (C) Is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and (D) Is domiciled in any state; (12) "Risk retention group" means any corporation or other limited liability association: (A) Whose primary activity consists of assuming and spreading all, or any portion, of the liability exposure of its group members; (B) Which is organized for the primary purpose of conducting the activity described under subdivision (12)(A) of this section; (C) Which: (i) Is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or (ii) Before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before such date, had certified to the insurance commissioner of at least one (1) state that it satisfied the capitalization requirements of such state, except that any such group shall be considered to be a risk retention group only if it has been engaged in business continuously since that date and only for the purpose of continuing to provide insurance to cover product liability or completed operations liability, as such terms were defined in the Product Liability Risk Retention Act of 1981 before the date of the enactment of the Liability Risk Retention Act of 1986; (D) Which does not exclude any person from membership in the group solely to provide for members of such a group a competitive advantage over such a person; (E) Which: (i) Has as its owners only persons who comprise the membership of the risk retention group and who are provided insurance by such group; or (ii) Has as its sole owner an organization which has as: (a) Its members, only persons who comprise the membership of the risk retention group; and (b) Its owners, only persons who comprise the membership of the risk retention group and who are provided insurance by the risk retention group; (F) Whose members are engaged in businesses or activities similar or related with respect to the liability of which such members are exposed by virtue of any related, similar, or common business trade, product, services, premises, or operations; (G) Whose activities do not include the provision of insurance other than: (i) Liability insurance for assuming and spreading all or any portion of the liability of its risk retention group members; and (ii) Reinsurance with respect to the liability of any other risk retention group, or any members of such other group, which is engaged in businesses or activities so that the group or member meets the requirement described in subdivision (12)(F) of this section from membership in the risk retention group which provides such reinsurance; and (H) The name of which includes the phrase "Risk Retention Group"; and (13) "State" means any state of the United States or the District of Columbia. Acts 1995, No. 623, § 1.

As used in this subchapter:

(1) "Commissioner" means the Insurance Commissioner of this state or the commissioner, director, or superintendent of insurance in any other state;

(2) "Completed operations liability" means liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by: (A) Any person who performs that work; or (B) Any person who hires an independent contractor to perform that work; but shall include liability for activities which are completed or abandoned before the date of the occurrence giving rise to the liability;

(A) Any person who performs that work; or

(B) Any person who hires an independent contractor to perform that work; but shall include liability for activities which are completed or abandoned before the date of the occurrence giving rise to the liability;

(3) "Department" means the State Insurance Department;

(4) "Domicile", for purposes of determining the state in which a purchasing group is domiciled, means: (A) For a corporation, the state in which the purchasing group is incorporated; and (B) For an unincorporated entity, the state of its principal place of business;

(A) For a corporation, the state in which the purchasing group is incorporated; and

(B) For an unincorporated entity, the state of its principal place of business;

(5) "Hazardous financial condition" means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able: (A) To meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or (B) To pay other obligations in the normal course of business;

(A) To meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or

(B) To pay other obligations in the normal course of business;

(6) "Insurance" means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this state;

(7) "Liability": (A) Means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injuries to other persons, damage to their property, or other damage or loss to such other persons resulting from or arising out of: (i) Any business, whether profit or nonprofit, trade, product, services, including professional services, premises, or operations; or (ii) Any activity of any state or local government, or any agency or political subdivision thereof; and (B) Does not include personal risk liability and an employer's liability with respect to its employees other than legal liability under the Employers' Liability Act, 45 U.S.C. § 51 et seq.;

(A) Means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injuries to other persons, damage to their property, or other damage or loss to such other persons resulting from or arising out of: (i) Any business, whether profit or nonprofit, trade, product, services, including professional services, premises, or operations; or (ii) Any activity of any state or local government, or any agency or political subdivision thereof; and

(i) Any business, whether profit or nonprofit, trade, product, services, including professional services, premises, or operations; or

(ii) Any activity of any state or local government, or any agency or political subdivision thereof; and

(B) Does not include personal risk liability and an employer's liability with respect to its employees other than legal liability under the Employers' Liability Act, 45 U.S.C. § 51 et seq.;

(8) "Personal risk liability" means liability for damages because of injury to any person, damage to property, or other loss or damage resulting from any personal, familial, or household responsibilities or activities, rather than from responsibilities or activities referred to in subdivision (7) of this section;

(9) "Plan of operation" or "feasibility study" means an analysis which presents the expected activities and results of a risk retention group including, at a minimum: (A) Information sufficient to verify that its members are engaged in businesses or activities similar or related with respect to the liability to which such members are exposed by virtue of any related, similar or common business, trade, product, services, premises, or operations; (B) For each state in which it intends to operate, the coverages, deductibles, coverage limits, rates, and rating classification systems for each line of insurance the group intends to offer; (C) Historical and expected loss experience of the proposed members and national experience of similar exposures to the extent that this experience is reasonably available; (D) Pro forma financial statements and projections; (E) Appropriate opinions by a qualified, independent casualty actuary, including a determination of minimum premium or participation levels required to commence operations and to prevent a hazardous financial condition; (F) Identification of management, underwriting and claims procedures, marketing methods, managerial oversight methods, investment policies, and reinsurance agreements; (G) Identification of each state in which the risk retention group has obtained, or sought to obtain, a charter and license, and a description of its status in each such state; and (H) Such other matters as may be prescribed by the commissioner of the state in which the risk retention group is chartered for liability insurance companies authorized by the insurance laws of that state;

(A) Information sufficient to verify that its members are engaged in businesses or activities similar or related with respect to the liability to which such members are exposed by virtue of any related, similar or common business, trade, product, services, premises, or operations;

(B) For each state in which it intends to operate, the coverages, deductibles, coverage limits, rates, and rating classification systems for each line of insurance the group intends to offer;

(C) Historical and expected loss experience of the proposed members and national experience of similar exposures to the extent that this experience is reasonably available;

(D) Pro forma financial statements and projections;

(E) Appropriate opinions by a qualified, independent casualty actuary, including a determination of minimum premium or participation levels required to commence operations and to prevent a hazardous financial condition;

(F) Identification of management, underwriting and claims procedures, marketing methods, managerial oversight methods, investment policies, and reinsurance agreements;

(G) Identification of each state in which the risk retention group has obtained, or sought to obtain, a charter and license, and a description of its status in each such state; and

(H) Such other matters as may be prescribed by the commissioner of the state in which the risk retention group is chartered for liability insurance companies authorized by the insurance laws of that state;

(10) "Product liability" means liability for damages because of any personal injury, death, emotional harm, consequential economic damage, or property damage, including damages resulting from the loss of use of property, arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product, but does not include the liability of any person for those damages if the product involved was in the possession of such a person when the incident giving rise to the claim occurred;

(11) "Purchasing group" means any group which: (A) Has as one of its purposes the purchase of liability insurance on a group basis; (B) Purchases such insurance only for its group members and only to cover their similar or related liability exposure, as described in subdivision (11)(C) of this section; (C) Is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and (D) Is domiciled in any state;

(A) Has as one of its purposes the purchase of liability insurance on a group basis;

(B) Purchases such insurance only for its group members and only to cover their similar or related liability exposure, as described in subdivision (11)(C) of this section;

(C) Is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and

(D) Is domiciled in any state;

(12) "Risk retention group" means any corporation or other limited liability association: (A) Whose primary activity consists of assuming and spreading all, or any portion, of the liability exposure of its group members; (B) Which is organized for the primary purpose of conducting the activity described under subdivision (12)(A) of this section; (C) Which: (i) Is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or (ii) Before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before such date, had certified to the insurance commissioner of at least one (1) state that it satisfied the capitalization requirements of such state, except that any such group shall be considered to be a risk retention group only if it has been engaged in business continuously since that date and only for the purpose of continuing to provide insurance to cover product liability or completed operations liability, as such terms were defined in the Product Liability Risk Retention Act of 1981 before the date of the enactment of the Liability Risk Retention Act of 1986; (D) Which does not exclude any person from membership in the group solely to provide for members of such a group a competitive advantage over such a person; (E) Which: (i) Has as its owners only persons who comprise the membership of the risk retention group and who are provided insurance by such group; or (ii) Has as its sole owner an organization which has as: (a) Its members, only persons who comprise the membership of the risk retention group; and (b) Its owners, only persons who comprise the membership of the risk retention group and who are provided insurance by the risk retention group; (F) Whose members are engaged in businesses or activities similar or related with respect to the liability of which such members are exposed by virtue of any related, similar, or common business trade, product, services, premises, or operations; (G) Whose activities do not include the provision of insurance other than: (i) Liability insurance for assuming and spreading all or any portion of the liability of its risk retention group members; and (ii) Reinsurance with respect to the liability of any other risk retention group, or any members of such other group, which is engaged in businesses or activities so that the group or member meets the requirement described in subdivision (12)(F) of this section from membership in the risk retention group which provides such reinsurance; and (H) The name of which includes the phrase "Risk Retention Group"; and

(A) Whose primary activity consists of assuming and spreading all, or any portion, of the liability exposure of its group members;

(B) Which is organized for the primary purpose of conducting the activity described under subdivision (12)(A) of this section;

(C) Which: (i) Is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or (ii) Before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before such date, had certified to the insurance commissioner of at least one (1) state that it satisfied the capitalization requirements of such state, except that any such group shall be considered to be a risk retention group only if it has been engaged in business continuously since that date and only for the purpose of continuing to provide insurance to cover product liability or completed operations liability, as such terms were defined in the Product Liability Risk Retention Act of 1981 before the date of the enactment of the Liability Risk Retention Act of 1986;

(i) Is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or

(ii) Before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before such date, had certified to the insurance commissioner of at least one (1) state that it satisfied the capitalization requirements of such state, except that any such group shall be considered to be a risk retention group only if it has been engaged in business continuously since that date and only for the purpose of continuing to provide insurance to cover product liability or completed operations liability, as such terms were defined in the Product Liability Risk Retention Act of 1981 before the date of the enactment of the Liability Risk Retention Act of 1986;

(D) Which does not exclude any person from membership in the group solely to provide for members of such a group a competitive advantage over such a person;

(E) Which: (i) Has as its owners only persons who comprise the membership of the risk retention group and who are provided insurance by such group; or (ii) Has as its sole owner an organization which has as: (a) Its members, only persons who comprise the membership of the risk retention group; and (b) Its owners, only persons who comprise the membership of the risk retention group and who are provided insurance by the risk retention group;

(i) Has as its owners only persons who comprise the membership of the risk retention group and who are provided insurance by such group; or

(ii) Has as its sole owner an organization which has as: (a) Its members, only persons who comprise the membership of the risk retention group; and (b) Its owners, only persons who comprise the membership of the risk retention group and who are provided insurance by the risk retention group;

(a) Its members, only persons who comprise the membership of the risk retention group; and

(b) Its owners, only persons who comprise the membership of the risk retention group and who are provided insurance by the risk retention group;

(F) Whose members are engaged in businesses or activities similar or related with respect to the liability of which such members are exposed by virtue of any related, similar, or common business trade, product, services, premises, or operations;

(G) Whose activities do not include the provision of insurance other than: (i) Liability insurance for assuming and spreading all or any portion of the liability of its risk retention group members; and (ii) Reinsurance with respect to the liability of any other risk retention group, or any members of such other group, which is engaged in businesses or activities so that the group or member meets the requirement described in subdivision (12)(F) of this section from membership in the risk retention group which provides such reinsurance; and

(i) Liability insurance for assuming and spreading all or any portion of the liability of its risk retention group members; and

(ii) Reinsurance with respect to the liability of any other risk retention group, or any members of such other group, which is engaged in businesses or activities so that the group or member meets the requirement described in subdivision (12)(F) of this section from membership in the risk retention group which provides such reinsurance; and

(H) The name of which includes the phrase "Risk Retention Group"; and

(13) "State" means any state of the United States or the District of Columbia.

Acts 1995, No. 623, § 1.
Ark. Code Ann. § 23-89-305 — AR Code / Title 23 / Chapter 89 / Subchapter 3 / Section 23-89-305
Notice required before renewal or nonrenewal - Inapplicability to commercial policies
Status: in_force

(a) (1) Except as provided in subsection (e) of this section, the insurer shall give either a written notice of nonrenewal or an offer of renewal at least thirty (30) days before the expiration of the policy's existing term. (2) (A) The insurer shall send the insured a written notice and the insurance producer written or electronic notice of the offer of renewal under subdivision (a)(1) of this section. (B) The notice required under subdivision (a)(2)(A) of this section shall: (i) State the new premium for the renewal policy; and (ii) Provide a description of any change in deductible or policy provisions in the renewal policy. (b) (1) This section does not apply in case of nonpayment of premium. (2) However, notwithstanding the failure of an insurer to comply with this section, the policy shall terminate on the effective date of any other insurance policy with respect to any automobile designated in both policies. (c) Unless a statement of the grounds for nonrenewal accompanies or is included in the notice of nonrenewal, the notice of nonrenewal shall state or be accompanied by a statement that the insurer shall specify the grounds for the nonrenewal upon written request of the named insured if the request is mailed or delivered to the insurer not less than fifteen (15) days before the effective date of the nonrenewal. (d) Renewal of a policy does not constitute a waiver or estoppel with respect to grounds for cancellation that existed before the effective date of the renewal. (e) This section does not apply to the sixty-day notice requirement for the renewal or nonrenewal of a commercial policy governed by § 23-79-307(7) . Acts 1969, No. 333, § 4; 1971, No. 187, § 1; A.S.A. 1947, § 66-4010; Acts 2003, No. 1790, § 3; 2009, No. 726, § 46.

(a) (1) Except as provided in subsection (e) of this section, the insurer shall give either a written notice of nonrenewal or an offer of renewal at least thirty (30) days before the expiration of the policy's existing term. (2) (A) The insurer shall send the insured a written notice and the insurance producer written or electronic notice of the offer of renewal under subdivision (a)(1) of this section. (B) The notice required under subdivision (a)(2)(A) of this section shall: (i) State the new premium for the renewal policy; and (ii) Provide a description of any change in deductible or policy provisions in the renewal policy.

(1) Except as provided in subsection (e) of this section, the insurer shall give either a written notice of nonrenewal or an offer of renewal at least thirty (30) days before the expiration of the policy's existing term.

(2) (A) The insurer shall send the insured a written notice and the insurance producer written or electronic notice of the offer of renewal under subdivision (a)(1) of this section. (B) The notice required under subdivision (a)(2)(A) of this section shall: (i) State the new premium for the renewal policy; and (ii) Provide a description of any change in deductible or policy provisions in the renewal policy.

(A) The insurer shall send the insured a written notice and the insurance producer written or electronic notice of the offer of renewal under subdivision (a)(1) of this section.

(B) The notice required under subdivision (a)(2)(A) of this section shall: (i) State the new premium for the renewal policy; and (ii) Provide a description of any change in deductible or policy provisions in the renewal policy.

(i) State the new premium for the renewal policy; and

(ii) Provide a description of any change in deductible or policy provisions in the renewal policy.

(b) (1) This section does not apply in case of nonpayment of premium. (2) However, notwithstanding the failure of an insurer to comply with this section, the policy shall terminate on the effective date of any other insurance policy with respect to any automobile designated in both policies.

(1) This section does not apply in case of nonpayment of premium.

(2) However, notwithstanding the failure of an insurer to comply with this section, the policy shall terminate on the effective date of any other insurance policy with respect to any automobile designated in both policies.

(c) Unless a statement of the grounds for nonrenewal accompanies or is included in the notice of nonrenewal, the notice of nonrenewal shall state or be accompanied by a statement that the insurer shall specify the grounds for the nonrenewal upon written request of the named insured if the request is mailed or delivered to the insurer not less than fifteen (15) days before the effective date of the nonrenewal.

(d) Renewal of a policy does not constitute a waiver or estoppel with respect to grounds for cancellation that existed before the effective date of the renewal.

(e) This section does not apply to the sixty-day notice requirement for the renewal or nonrenewal of a commercial policy governed by § 23-79-307(7) .

Acts 1969, No. 333, § 4; 1971, No. 187, § 1; A.S.A. 1947, § 66-4010; Acts 2003, No. 1790, § 3; 2009, No. 726, § 46.
Ark. Code Ann. § 23-115-611 — AR Code / Title 23 / Chapter 115 / Subchapter 6 / Section 23-115-611
Revocation and suspension of business license
Status: in_force

(a) The closure of a business under this subchapter shall be grounds for cancellation, suspension, revocation, or termination of a retailer license under § 23-115-604 . (b) The closure of a business under this subchapter shall be grounds for the suspension or revocation of any business license granted under the laws of the State of Arkansas, excluding professional licenses. (c) After the decision to close the retailer's business becomes final, the Director of the Office of the Arkansas Lottery shall contact the appropriate administrative body responsible for granting licenses to operate the business and report the closure of the business. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 1405, § 44.

(a) The closure of a business under this subchapter shall be grounds for cancellation, suspension, revocation, or termination of a retailer license under § 23-115-604 .

(b) The closure of a business under this subchapter shall be grounds for the suspension or revocation of any business license granted under the laws of the State of Arkansas, excluding professional licenses.

(c) After the decision to close the retailer's business becomes final, the Director of the Office of the Arkansas Lottery shall contact the appropriate administrative body responsible for granting licenses to operate the business and report the closure of the business.

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

Acts 2009, No. 1405, § 44.
Ark. Code Ann. § 23-79-703 — AR Code / Title 23 / Chapter 79 / Subchapter 7 / Section 23-79-703
Health insurance coverage for medically necessary foods - Definition
Status: in_force

(a) As used in this section, "medical disorder requiring specialized nutrients or formulas" means the following inherited metabolic disorders involving a failure to properly metabolize certain nutrients: (1) Nitrogen metabolism disorder; (2) Phenylketonuria; (3) Maple syrup urine disease; (4) Homocystinuria; (5) Citrullinemia; (6) Argininosuccinic acidemia; (7) Tyrosinemia, type 1; (8) Very-long-chain acyl-CoA dehydrogenase deficiency; (9) Long-chain 3-hydroxyacyl-CoA dehydrogenase deficiency; (10) Trifunctional protein deficiency; (11) Glutaric acidemia, type 1; (12) 3-methylcrotonyl CoA carboxylase deficiency; (13) Propionic acidemia; (14) Methylmalonic acidemia due to mutase deficiency; (15) Methlmalonic acidemia due to cobalamin A,B defect; (16) Isovaleric acidemia; (17) Ornithine transcarbamylase deficiency; (18) Non-ketotic hyperglycinemia; (19) Glycogen storage diseases; (20) Disorders of creatine metabolism; (21) Malonic aciduria; (22) Carnitine palmitoyl transferase deficiency type II; (23) Glutaric aciduria type II; and (24) Sulfite oxidase deficiency. (b) (1) A health plan issued, delivered, amended, or modified in this state after January 1, 2018, shall provide the minimum benefits under subsection (c) of this section for medical foods, including without limitation: (A) Low-protein modified food products; (B) Amino-acid-based elemental formulas; (C) Extensively hydrolyzed protein formulas; (D) Formulas with modified vitamin or mineral content; and (E) Modified nutrient content formulas. (2) (A) The products and formulas listed in subdivision (b)(1) of this section shall be covered by a health plan regardless of delivery method, whether enteral or oral, or sole source or supplemental, or the age of the covered person, for the treatment of a covered person with a medical disorder requiring specialized nutrients or formulas if: (i) Either of the following occurs: (a) The medical food or low-protein modified food products, regardless of delivery method, are prescribed by a healthcare provider licensed under § 17-95-401 et seq. as medically necessary; or (b) A healthcare provider licensed under § 17-95-401 et seq. issues a written order stating that a medical food is medically necessary for the therapeutic treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section; and (ii) The product or formula is administered under the direction of a licensed healthcare practitioner under § 17-95-401 et seq. and shall only be administered under the direction of a clinical geneticist and a registered dietitian. (B) As used in subdivision (b)(2)(A) of this section, a "healthcare provider" does not include a nurse practitioner or physician's assistant. (3) To be covered by a health plan, treatment of a medical disorder requiring specialized nutrients or formulas shall be: (A) Derived from evidence-based practice guidelines; and (B) Efficacious. (c) (1) A health insurance policy, contract, certificate, or healthcare plan issued in this state by an insurance company, hospital medical service corporation, health maintenance organization, or a self-funded or self-insured governmental plan, whether an individual or group policy, contract, certificate, or healthcare plan, that covers the insured and the insured's family shall provide coverage and reimbursement for the treatment of a medical disorder requiring specialized nutrients or formulas in accordance with subsection (b) of this section. (2) Benefits provided under the Arkansas Medicaid Program or coverage limited to expenses from an accident-only, specified disease, hospital indemnity, Medicare supplement, long-term care, disability income, or other limited benefit health insurance policy or plan is exempt from the requirement of subdivision (c)(1) of this section. (3) The benefit provided under subdivision (c)(1) of this section may be subject to a deductible, copayments, coinsurance, or other patient cost-sharing amounts required by the health plan. (d) If the cost of the products or formulas described in subdivision (b)(1) of this section for a covered person exceeds the income tax credit of two thousand four hundred dollars ($2,400) per year per covered person allowed under § 23-79-702 and the covered person cannot afford insurance coverage for treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section, the Department of Health shall reimburse the healthcare provider up to one thousand dollars ($1,000) per covered person from any funds appropriated for the required healthcare service, including screening, diagnostic, and treatment services. Amended by Act 2017, No. 1096,§ 1, eff. 8/1/2017. Acts 1999, No. 1113, § 3; 2001, No. 1603, § 38; 2001, No. 1654, § 1; 2003, No. 1440, § 2.

(a) As used in this section, "medical disorder requiring specialized nutrients or formulas" means the following inherited metabolic disorders involving a failure to properly metabolize certain nutrients: (1) Nitrogen metabolism disorder; (2) Phenylketonuria; (3) Maple syrup urine disease; (4) Homocystinuria; (5) Citrullinemia; (6) Argininosuccinic acidemia; (7) Tyrosinemia, type 1; (8) Very-long-chain acyl-CoA dehydrogenase deficiency; (9) Long-chain 3-hydroxyacyl-CoA dehydrogenase deficiency; (10) Trifunctional protein deficiency; (11) Glutaric acidemia, type 1; (12) 3-methylcrotonyl CoA carboxylase deficiency; (13) Propionic acidemia; (14) Methylmalonic acidemia due to mutase deficiency; (15) Methlmalonic acidemia due to cobalamin A,B defect; (16) Isovaleric acidemia; (17) Ornithine transcarbamylase deficiency; (18) Non-ketotic hyperglycinemia; (19) Glycogen storage diseases; (20) Disorders of creatine metabolism; (21) Malonic aciduria; (22) Carnitine palmitoyl transferase deficiency type II; (23) Glutaric aciduria type II; and (24) Sulfite oxidase deficiency.

(1) Nitrogen metabolism disorder;

(2) Phenylketonuria;

(3) Maple syrup urine disease;

(4) Homocystinuria;

(5) Citrullinemia;

(6) Argininosuccinic acidemia;

(7) Tyrosinemia, type 1;

(8) Very-long-chain acyl-CoA dehydrogenase deficiency;

(9) Long-chain 3-hydroxyacyl-CoA dehydrogenase deficiency;

(10) Trifunctional protein deficiency;

(11) Glutaric acidemia, type 1;

(12) 3-methylcrotonyl CoA carboxylase deficiency;

(13) Propionic acidemia;

(14) Methylmalonic acidemia due to mutase deficiency;

(15) Methlmalonic acidemia due to cobalamin A,B defect;

(16) Isovaleric acidemia;

(17) Ornithine transcarbamylase deficiency;

(18) Non-ketotic hyperglycinemia;

(19) Glycogen storage diseases;

(20) Disorders of creatine metabolism;

(21) Malonic aciduria;

(22) Carnitine palmitoyl transferase deficiency type II;

(23) Glutaric aciduria type II; and

(24) Sulfite oxidase deficiency.

(b) (1) A health plan issued, delivered, amended, or modified in this state after January 1, 2018, shall provide the minimum benefits under subsection (c) of this section for medical foods, including without limitation: (A) Low-protein modified food products; (B) Amino-acid-based elemental formulas; (C) Extensively hydrolyzed protein formulas; (D) Formulas with modified vitamin or mineral content; and (E) Modified nutrient content formulas. (2) (A) The products and formulas listed in subdivision (b)(1) of this section shall be covered by a health plan regardless of delivery method, whether enteral or oral, or sole source or supplemental, or the age of the covered person, for the treatment of a covered person with a medical disorder requiring specialized nutrients or formulas if: (i) Either of the following occurs: (a) The medical food or low-protein modified food products, regardless of delivery method, are prescribed by a healthcare provider licensed under § 17-95-401 et seq. as medically necessary; or (b) A healthcare provider licensed under § 17-95-401 et seq. issues a written order stating that a medical food is medically necessary for the therapeutic treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section; and (ii) The product or formula is administered under the direction of a licensed healthcare practitioner under § 17-95-401 et seq. and shall only be administered under the direction of a clinical geneticist and a registered dietitian. (B) As used in subdivision (b)(2)(A) of this section, a "healthcare provider" does not include a nurse practitioner or physician's assistant. (3) To be covered by a health plan, treatment of a medical disorder requiring specialized nutrients or formulas shall be: (A) Derived from evidence-based practice guidelines; and (B) Efficacious.

(1) A health plan issued, delivered, amended, or modified in this state after January 1, 2018, shall provide the minimum benefits under subsection (c) of this section for medical foods, including without limitation: (A) Low-protein modified food products; (B) Amino-acid-based elemental formulas; (C) Extensively hydrolyzed protein formulas; (D) Formulas with modified vitamin or mineral content; and (E) Modified nutrient content formulas.

(A) Low-protein modified food products;

(B) Amino-acid-based elemental formulas;

(C) Extensively hydrolyzed protein formulas;

(D) Formulas with modified vitamin or mineral content; and

(E) Modified nutrient content formulas.

(2) (A) The products and formulas listed in subdivision (b)(1) of this section shall be covered by a health plan regardless of delivery method, whether enteral or oral, or sole source or supplemental, or the age of the covered person, for the treatment of a covered person with a medical disorder requiring specialized nutrients or formulas if: (i) Either of the following occurs: (a) The medical food or low-protein modified food products, regardless of delivery method, are prescribed by a healthcare provider licensed under § 17-95-401 et seq. as medically necessary; or (b) A healthcare provider licensed under § 17-95-401 et seq. issues a written order stating that a medical food is medically necessary for the therapeutic treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section; and (ii) The product or formula is administered under the direction of a licensed healthcare practitioner under § 17-95-401 et seq. and shall only be administered under the direction of a clinical geneticist and a registered dietitian. (B) As used in subdivision (b)(2)(A) of this section, a "healthcare provider" does not include a nurse practitioner or physician's assistant.

(A) The products and formulas listed in subdivision (b)(1) of this section shall be covered by a health plan regardless of delivery method, whether enteral or oral, or sole source or supplemental, or the age of the covered person, for the treatment of a covered person with a medical disorder requiring specialized nutrients or formulas if: (i) Either of the following occurs: (a) The medical food or low-protein modified food products, regardless of delivery method, are prescribed by a healthcare provider licensed under § 17-95-401 et seq. as medically necessary; or (b) A healthcare provider licensed under § 17-95-401 et seq. issues a written order stating that a medical food is medically necessary for the therapeutic treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section; and (ii) The product or formula is administered under the direction of a licensed healthcare practitioner under § 17-95-401 et seq. and shall only be administered under the direction of a clinical geneticist and a registered dietitian.

(i) Either of the following occurs: (a) The medical food or low-protein modified food products, regardless of delivery method, are prescribed by a healthcare provider licensed under § 17-95-401 et seq. as medically necessary; or (b) A healthcare provider licensed under § 17-95-401 et seq. issues a written order stating that a medical food is medically necessary for the therapeutic treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section; and

(a) The medical food or low-protein modified food products, regardless of delivery method, are prescribed by a healthcare provider licensed under § 17-95-401 et seq. as medically necessary; or

(b) A healthcare provider licensed under § 17-95-401 et seq. issues a written order stating that a medical food is medically necessary for the therapeutic treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section; and

(ii) The product or formula is administered under the direction of a licensed healthcare practitioner under § 17-95-401 et seq. and shall only be administered under the direction of a clinical geneticist and a registered dietitian.

(B) As used in subdivision (b)(2)(A) of this section, a "healthcare provider" does not include a nurse practitioner or physician's assistant.

(3) To be covered by a health plan, treatment of a medical disorder requiring specialized nutrients or formulas shall be: (A) Derived from evidence-based practice guidelines; and (B) Efficacious.

(A) Derived from evidence-based practice guidelines; and

(B) Efficacious.

(c) (1) A health insurance policy, contract, certificate, or healthcare plan issued in this state by an insurance company, hospital medical service corporation, health maintenance organization, or a self-funded or self-insured governmental plan, whether an individual or group policy, contract, certificate, or healthcare plan, that covers the insured and the insured's family shall provide coverage and reimbursement for the treatment of a medical disorder requiring specialized nutrients or formulas in accordance with subsection (b) of this section. (2) Benefits provided under the Arkansas Medicaid Program or coverage limited to expenses from an accident-only, specified disease, hospital indemnity, Medicare supplement, long-term care, disability income, or other limited benefit health insurance policy or plan is exempt from the requirement of subdivision (c)(1) of this section. (3) The benefit provided under subdivision (c)(1) of this section may be subject to a deductible, copayments, coinsurance, or other patient cost-sharing amounts required by the health plan.

(1) A health insurance policy, contract, certificate, or healthcare plan issued in this state by an insurance company, hospital medical service corporation, health maintenance organization, or a self-funded or self-insured governmental plan, whether an individual or group policy, contract, certificate, or healthcare plan, that covers the insured and the insured's family shall provide coverage and reimbursement for the treatment of a medical disorder requiring specialized nutrients or formulas in accordance with subsection (b) of this section.

(2) Benefits provided under the Arkansas Medicaid Program or coverage limited to expenses from an accident-only, specified disease, hospital indemnity, Medicare supplement, long-term care, disability income, or other limited benefit health insurance policy or plan is exempt from the requirement of subdivision (c)(1) of this section.

(3) The benefit provided under subdivision (c)(1) of this section may be subject to a deductible, copayments, coinsurance, or other patient cost-sharing amounts required by the health plan.

(d) If the cost of the products or formulas described in subdivision (b)(1) of this section for a covered person exceeds the income tax credit of two thousand four hundred dollars ($2,400) per year per covered person allowed under § 23-79-702 and the covered person cannot afford insurance coverage for treatment of a medical disorder requiring specialized nutrients or formulas as described in subdivision (b)(1) of this section, the Department of Health shall reimburse the healthcare provider up to one thousand dollars ($1,000) per covered person from any funds appropriated for the required healthcare service, including screening, diagnostic, and treatment services.

Amended by Act 2017, No. 1096,§ 1, eff. 8/1/2017.

Acts 1999, No. 1113, § 3; 2001, No. 1603, § 38; 2001, No. 1654, § 1; 2003, No. 1440, § 2.
Ark. Code Ann. § 23-48-311 — AR Code / Title 23 / Chapter 48 / Subchapter 3 / Section 23-48-311
Increase or decrease of capital stock
Status: in_force

(a) The authorized capital stock of any state bank may be increased or decreased by amendment to its articles of incorporation, subject to the requirements pertaining to such amendments contained in §§ 23-48-307 and 23-48-308 . (b) A capital stock increase may be effected by the issuance and sale of additional shares, which additional shares may be of the same class as the shares then outstanding or may be represented by a different class or classes having privileges, preferences, and voting rights greater or less than those appurtenant to the then outstanding shares, whether common stock or preferred stock. (c) Stock dividends may be paid out of surplus or undivided profits. (d) A state bank may authorize common stock, which may be retained, unissued by the institution, until such time as the board of directors shall order its sale or distribution. (e) Except as otherwise permitted under § 23-47-102(c) , a decrease of the capital stock shall not be permitted without the consent of the Bank Commissioner and in no event shall the capital be reduced to a figure below the minimum prescribed by law. Amended by Act 2017, No. 548,§ 4, eff. 3/21/2017. Acts 1997, No. 89, § 1.

(a) The authorized capital stock of any state bank may be increased or decreased by amendment to its articles of incorporation, subject to the requirements pertaining to such amendments contained in §§ 23-48-307 and 23-48-308 .

(b) A capital stock increase may be effected by the issuance and sale of additional shares, which additional shares may be of the same class as the shares then outstanding or may be represented by a different class or classes having privileges, preferences, and voting rights greater or less than those appurtenant to the then outstanding shares, whether common stock or preferred stock.

(c) Stock dividends may be paid out of surplus or undivided profits.

(d) A state bank may authorize common stock, which may be retained, unissued by the institution, until such time as the board of directors shall order its sale or distribution.

(e) Except as otherwise permitted under § 23-47-102(c) , a decrease of the capital stock shall not be permitted without the consent of the Bank Commissioner and in no event shall the capital be reduced to a figure below the minimum prescribed by law.

Amended by Act 2017, No. 548,§ 4, eff. 3/21/2017.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-37-702 — AR Code / Title 23 / Chapter 37 / Subchapter 7 / Section 23-37-702
Conversion of federal association into state association
Status: in_force

(a) Upon the approval of the Federal Home Loan Bank Board [abolished], or other applicable federal authority, any federal association may convert itself into an association under this chapter upon a majority vote of the members of the federal association cast at an annual meeting or any special meeting called to consider that action. (b) Copies of the minutes of the proceedings of the meeting of members, verified by affidavit of the secretary, shall be filed in the office of the Supervisor of Savings and Loan Associations. The verified copies of the proceedings of the meeting when so filed shall be presumptive evidence of the holding and action of the meeting. (c) (1) At the meeting at which conversion is voted upon, the members shall approve bylaws and adopt articles of incorporation and elect the directors who shall be the directors of the state-chartered association after conversion takes effect, provided that the terms and conditions of a conversion may provide for the directors of the federal association to serve as directors of the converted state-chartered association. (2) Copies of the bylaws and articles of incorporation adopted at the meeting, verified by affidavit of the secretary, shall be filed with the office of the supervisor. (d) (1) If the bylaws and articles of incorporation are in conformity with the provisions of this chapter, and if a consent or acquiescence in the conversion by the Federal Home Loan Bank Board [abolished] or other applicable authority is filed with the supervisor, he or she shall endorse his or her approval on the articles of incorporation together with the following statement: "This association is incorporated by conversion from a federal savings and loan association." (2) Upon the supervisor's endorsement of approval, the former federal association shall be an association incorporated under the provisions of this chapter as a direct successor to the federal association. (e) All the provisions regarding property and other rights contained in § 23-37-701 shall apply, in reverse order, to the conversion of a federal association into an association incorporated under this chapter so that the state-chartered association shall be a continuation of the corporate entity of the converting federal association and continue to have all of its property and rights. Acts 1963, No. 227, § 51; 1973, No. 292, § 4; A.S.A. 1947, § 67-1851.

(a) Upon the approval of the Federal Home Loan Bank Board [abolished], or other applicable federal authority, any federal association may convert itself into an association under this chapter upon a majority vote of the members of the federal association cast at an annual meeting or any special meeting called to consider that action.

(b) Copies of the minutes of the proceedings of the meeting of members, verified by affidavit of the secretary, shall be filed in the office of the Supervisor of Savings and Loan Associations. The verified copies of the proceedings of the meeting when so filed shall be presumptive evidence of the holding and action of the meeting.

(c) (1) At the meeting at which conversion is voted upon, the members shall approve bylaws and adopt articles of incorporation and elect the directors who shall be the directors of the state-chartered association after conversion takes effect, provided that the terms and conditions of a conversion may provide for the directors of the federal association to serve as directors of the converted state-chartered association. (2) Copies of the bylaws and articles of incorporation adopted at the meeting, verified by affidavit of the secretary, shall be filed with the office of the supervisor.

(1) At the meeting at which conversion is voted upon, the members shall approve bylaws and adopt articles of incorporation and elect the directors who shall be the directors of the state-chartered association after conversion takes effect, provided that the terms and conditions of a conversion may provide for the directors of the federal association to serve as directors of the converted state-chartered association.

(2) Copies of the bylaws and articles of incorporation adopted at the meeting, verified by affidavit of the secretary, shall be filed with the office of the supervisor.

(d) (1) If the bylaws and articles of incorporation are in conformity with the provisions of this chapter, and if a consent or acquiescence in the conversion by the Federal Home Loan Bank Board [abolished] or other applicable authority is filed with the supervisor, he or she shall endorse his or her approval on the articles of incorporation together with the following statement: "This association is incorporated by conversion from a federal savings and loan association." (2) Upon the supervisor's endorsement of approval, the former federal association shall be an association incorporated under the provisions of this chapter as a direct successor to the federal association.

(1) If the bylaws and articles of incorporation are in conformity with the provisions of this chapter, and if a consent or acquiescence in the conversion by the Federal Home Loan Bank Board [abolished] or other applicable authority is filed with the supervisor, he or she shall endorse his or her approval on the articles of incorporation together with the following statement: "This association is incorporated by conversion from a federal savings and loan association."

"This association is incorporated by conversion from a federal savings and loan association."

(2) Upon the supervisor's endorsement of approval, the former federal association shall be an association incorporated under the provisions of this chapter as a direct successor to the federal association.

(e) All the provisions regarding property and other rights contained in § 23-37-701 shall apply, in reverse order, to the conversion of a federal association into an association incorporated under this chapter so that the state-chartered association shall be a continuation of the corporate entity of the converting federal association and continue to have all of its property and rights.

Acts 1963, No. 227, § 51; 1973, No. 292, § 4; A.S.A. 1947, § 67-1851.
Ark. Code Ann. § 23-81-306 — AR Code / Title 23 / Chapter 81 / Subchapter 3 / Section 23-81-306
Calculation of cash surrender values
Status: in_force

(a) For contracts which provide cash surrender benefits, the cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under the contract at maturity arising from considerations paid prior to the time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, the present value being calculated on the basis of an interest rate not more than one percent (1%) higher than the interest rate specified in the contract for accumulating the net considerations to determine the maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the insurer to the contract. (b) In no event shall any cash surrender benefit be less than the minimum nonforfeiture amount at that time. (c) The death benefit under the contracts shall be at least equal to the cash surrender benefit. Acts 1981, No. 492, § 1; A.S.A. 1947, § 66-3327.1.

(a) For contracts which provide cash surrender benefits, the cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under the contract at maturity arising from considerations paid prior to the time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, the present value being calculated on the basis of an interest rate not more than one percent (1%) higher than the interest rate specified in the contract for accumulating the net considerations to determine the maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the insurer to the contract.

(b) In no event shall any cash surrender benefit be less than the minimum nonforfeiture amount at that time.

(c) The death benefit under the contracts shall be at least equal to the cash surrender benefit.

Acts 1981, No. 492, § 1; A.S.A. 1947, § 66-3327.1.
Ark. Code Ann. § 23-18-406 — AR Code / Title 23 / Chapter 18 / Subchapter 4 / Section 23-18-406
Eminent domain generally
Status: in_force

(a) In order to enable the corporation to carry out the purpose of this section, §§ 23-18-401 - 23-18-405 , and 23-18-408 - 23-18-410 , the state's power of eminent domain is conferred upon it, insofar as it is necessary to enable it to condemn land overflowed above its dam, and for spillways, dams, cofferdams, powerhouses, and substations, and to condemn lands for right-of-way for viaducts and for electric transmission of power generated to points of its utilization. (b) (1) In all cases where the corporation fails to obtain by agreement with the owner of the property the right to overflow or use such lands or the right-of-way for viaducts and electric transmission lines, it may apply by petition to the circuit court in the counties in which the property is situated to have the damages for the overflowed lands or rights-of-way assessed, giving the owner of the property at least ten (10) days' notice in writing of the time and place where the petition will be heard. (2) If the owner of the property is a nonresident of the state, the notice shall be given by publication as provided in civil cases. (3) In case proceedings are had against infants or persons of unsound mind, it shall be the duty of the court to appoint a guardian ad litem, who shall represent their interest for all purposes. (4) The petition as nearly as may be shall describe the lands to be overflowed or taken for right-of-way for viaducts and electric transmission lines and shall be sworn to. (c) It shall be the duty of the court to impanel a jury of twelve (12) persons, as in other civil cases, to ascertain the amount of compensation which the corporation shall pay, and the matter shall proceed and be determined as other civil cases. (d) In all cases where damages have been assessed, it shall be the duty of the corporation to deposit with the clerk of the court or to pay to the owners the amount so assessed and to pay such costs as may be adjudged against it within thirty (30) days after the assessment, whereupon it shall be lawful for the corporation to enter upon the lands and proceed with the work of developing the waterpower. (e) Where the determination of questions in controversy in the proceeding is likely to retard the progress of the work, the court or the judge in vacation shall designate an amount of money to be deposited by the corporation, subject to the order of the court, and for the purpose of making the compensation when the amount thereof has been assessed, as provided in this section, and the judge shall designate the place of the deposit. Whenever the deposit shall be made, it shall be lawful for the corporation to enter upon the lands and to proceed with its work prior to the assessment and payment of damages for the use thereof. (f) In all cases where the corporation fails to pay or deposit the amount of damages assessed as provided in this section within thirty (30) days after such demand, it shall forfeit all rights in the premises. Acts 1927, No. 121, §§ 9-16; Pope's Dig., §§ 14481-14488; A.S.A. 1947, §§ 73-2009 -- 73-2016.

(a) In order to enable the corporation to carry out the purpose of this section, §§ 23-18-401 - 23-18-405 , and 23-18-408 - 23-18-410 , the state's power of eminent domain is conferred upon it, insofar as it is necessary to enable it to condemn land overflowed above its dam, and for spillways, dams, cofferdams, powerhouses, and substations, and to condemn lands for right-of-way for viaducts and for electric transmission of power generated to points of its utilization.

(b) (1) In all cases where the corporation fails to obtain by agreement with the owner of the property the right to overflow or use such lands or the right-of-way for viaducts and electric transmission lines, it may apply by petition to the circuit court in the counties in which the property is situated to have the damages for the overflowed lands or rights-of-way assessed, giving the owner of the property at least ten (10) days' notice in writing of the time and place where the petition will be heard. (2) If the owner of the property is a nonresident of the state, the notice shall be given by publication as provided in civil cases. (3) In case proceedings are had against infants or persons of unsound mind, it shall be the duty of the court to appoint a guardian ad litem, who shall represent their interest for all purposes. (4) The petition as nearly as may be shall describe the lands to be overflowed or taken for right-of-way for viaducts and electric transmission lines and shall be sworn to.

(1) In all cases where the corporation fails to obtain by agreement with the owner of the property the right to overflow or use such lands or the right-of-way for viaducts and electric transmission lines, it may apply by petition to the circuit court in the counties in which the property is situated to have the damages for the overflowed lands or rights-of-way assessed, giving the owner of the property at least ten (10) days' notice in writing of the time and place where the petition will be heard.

(2) If the owner of the property is a nonresident of the state, the notice shall be given by publication as provided in civil cases.

(3) In case proceedings are had against infants or persons of unsound mind, it shall be the duty of the court to appoint a guardian ad litem, who shall represent their interest for all purposes.

(4) The petition as nearly as may be shall describe the lands to be overflowed or taken for right-of-way for viaducts and electric transmission lines and shall be sworn to.

(c) It shall be the duty of the court to impanel a jury of twelve (12) persons, as in other civil cases, to ascertain the amount of compensation which the corporation shall pay, and the matter shall proceed and be determined as other civil cases.

(d) In all cases where damages have been assessed, it shall be the duty of the corporation to deposit with the clerk of the court or to pay to the owners the amount so assessed and to pay such costs as may be adjudged against it within thirty (30) days after the assessment, whereupon it shall be lawful for the corporation to enter upon the lands and proceed with the work of developing the waterpower.

(e) Where the determination of questions in controversy in the proceeding is likely to retard the progress of the work, the court or the judge in vacation shall designate an amount of money to be deposited by the corporation, subject to the order of the court, and for the purpose of making the compensation when the amount thereof has been assessed, as provided in this section, and the judge shall designate the place of the deposit. Whenever the deposit shall be made, it shall be lawful for the corporation to enter upon the lands and to proceed with its work prior to the assessment and payment of damages for the use thereof.

(f) In all cases where the corporation fails to pay or deposit the amount of damages assessed as provided in this section within thirty (30) days after such demand, it shall forfeit all rights in the premises.

Acts 1927, No. 121, §§ 9-16; Pope's Dig., §§ 14481-14488; A.S.A. 1947, §§ 73-2009 -- 73-2016.
Ark. Code Ann. § 23-11-310 — AR Code / Title 23 / Chapter 11 / Subchapter 3 / Section 23-11-310
Articles of consolidation or purchase - Amount of capital stock
Status: in_force

(a) Articles of consolidation or purchase shall be signed by a majority of the directors of the respective companies and shall be filed and recorded in the office of the Secretary of State. (b) The articles of consolidation or purchase shall set forth the amount of the capital stock, the names of the officers of the companies thus formed, and all conditions, agreements, and stipulations in the premises. (c) The amount of the capital stock of the company thus formed may be fixed at any amount not exceeding the aggregate sum authorized by the charter or articles of incorporation of the respective companies thus merging or amalgamating. Acts 1868, No. 71, § 43, p. 290; Act 4/29/1873, § 4 (not published); C. & M. Dig., § 8539; Pope's Dig., § 11115; A.S.A. 1947, § 73-417.

(a) Articles of consolidation or purchase shall be signed by a majority of the directors of the respective companies and shall be filed and recorded in the office of the Secretary of State.

(b) The articles of consolidation or purchase shall set forth the amount of the capital stock, the names of the officers of the companies thus formed, and all conditions, agreements, and stipulations in the premises.

(c) The amount of the capital stock of the company thus formed may be fixed at any amount not exceeding the aggregate sum authorized by the charter or articles of incorporation of the respective companies thus merging or amalgamating.

Acts 1868, No. 71, § 43, p. 290; Act 4/29/1873, § 4 (not published); C. & M. Dig., § 8539; Pope's Dig., § 11115; A.S.A. 1947, § 73-417.
Ark. Code Ann. § 23-67-306 — AR Code / Title 23 / Chapter 67 / Subchapter 3 / Section 23-67-306
Employers entitled to insurance
Status: in_force

(a) Any employer required to secure the payment of compensation under the provisions of § 11-9-404(a)(1) or any similar federal law shall be entitled to insurance under the provisions of this subchapter, provided: (1) The employer pays his or her premium based upon the premium payment rules approved by the Insurance Commissioner; (2) The employer has complied with all effective laws, orders, or rules, made by public authorities relating to the welfare, health, and safety of employees; (3) The employer is not in default of premium payments owed for workers' compensation insurance. Provided, however, that no employer shall be deemed to be in default of a premium payment if all of the sum by which he or she is alleged to be in default is properly attributable to a good faith, bona fide dispute between the insurer and the employer over the accuracy or legality of an audit of payroll performed by or at the request of the insurer, and which dispute is in formal process of resolution as provided in § 23-67-219(3) . All such disputes shall be resolved in the manner set forth in § 23-67-219(3)(B) . (b) In order to promote competition and improve servicing carrier performance, an employer applying for coverage or on renewal in the Arkansas Workers' Compensation Insurance Plan may strike six (6) servicing carriers, not to exceed a maximum of one-half (1/2) of the eligible servicing carriers, from the list of eligible servicing carriers to which the employer can be assigned. Amended by Act 2019, No. 315,§ 2674, eff. 7/24/2019. Acts 1991, No. 561, § 1; 1993, No. 1155, § 2.

(a) Any employer required to secure the payment of compensation under the provisions of § 11-9-404(a)(1) or any similar federal law shall be entitled to insurance under the provisions of this subchapter, provided: (1) The employer pays his or her premium based upon the premium payment rules approved by the Insurance Commissioner; (2) The employer has complied with all effective laws, orders, or rules, made by public authorities relating to the welfare, health, and safety of employees; (3) The employer is not in default of premium payments owed for workers' compensation insurance. Provided, however, that no employer shall be deemed to be in default of a premium payment if all of the sum by which he or she is alleged to be in default is properly attributable to a good faith, bona fide dispute between the insurer and the employer over the accuracy or legality of an audit of payroll performed by or at the request of the insurer, and which dispute is in formal process of resolution as provided in § 23-67-219(3) . All such disputes shall be resolved in the manner set forth in § 23-67-219(3)(B) .

(1) The employer pays his or her premium based upon the premium payment rules approved by the Insurance Commissioner;

(2) The employer has complied with all effective laws, orders, or rules, made by public authorities relating to the welfare, health, and safety of employees;

(3) The employer is not in default of premium payments owed for workers' compensation insurance. Provided, however, that no employer shall be deemed to be in default of a premium payment if all of the sum by which he or she is alleged to be in default is properly attributable to a good faith, bona fide dispute between the insurer and the employer over the accuracy or legality of an audit of payroll performed by or at the request of the insurer, and which dispute is in formal process of resolution as provided in § 23-67-219(3) . All such disputes shall be resolved in the manner set forth in § 23-67-219(3)(B) .

(b) In order to promote competition and improve servicing carrier performance, an employer applying for coverage or on renewal in the Arkansas Workers' Compensation Insurance Plan may strike six (6) servicing carriers, not to exceed a maximum of one-half (1/2) of the eligible servicing carriers, from the list of eligible servicing carriers to which the employer can be assigned.

Amended by Act 2019, No. 315,§ 2674, eff. 7/24/2019.

Acts 1991, No. 561, § 1; 1993, No. 1155, § 2.
Ark. Code Ann. § 23-69-144 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-144
Agreement or adoption of plan for merger, consolidation, or plan of exchange of shares
Status: in_force

(a) The directors, or a majority of them, of the corporations as desire to merge or consolidate or adopt a plan of exchange of shares pursuant to § 23-69-142 or § 23-69-143 shall enter into an agreement or adopt a plan signed by them and under the corporate seals of the respective corporations prescribing the terms and conditions of the merger or consolidation or plan of exchange of shares, the mode of carrying the same into effect, provisions with respect to abandonment, the effective date of the proposal or method of determination thereof and stating such other facts as are deemed applicable among those necessary to be set out in articles of incorporation, as provided in § 23-69-105 , as well as the manner and basis of any issuance, conversion, or exchange of shares of stock involved in the proposal, and with such other details and provisions as are deemed necessary or desirable. (b) (1) The agreement of merger or consolidation shall be submitted to the stockholders, in the case of a stock insurer, or members, in the case of a mutual insurer, of each corporation at meetings thereof and called for the purpose of taking it into consideration. A plan of exchange of shares shall be submitted to the stockholders of the insurer to be acquired at a meeting thereof called for that purpose. (2) Notice shall be given of the time, place, and object of the meeting to each stockholder or member of record, whether entitled to vote or not. (3) At the meeting, the agreement or plan shall be considered and a vote by ballot, in person or by proxy, shall be taken for the adoption or rejection of the agreement or plan. (4) If the votes of stockholders, in the case of a stock insurer, holding stock of the corporation entitling them to exercise at least a majority of the voting power, or such other proportion of the stockholders as may be prescribed in the corporation's articles of incorporation for votes on such a proposal, or, in the case of a mutual insurer, the votes of the number or proportion of members of the insurer as required under § 23-69-143(b) , shall be for the adoption of the agreement or plan, then that fact shall be certified in the agreement or plan by the secretary or assistant secretary of each corporation, under the seal thereof. (5) The agreement or plan so adopted and certified shall be signed by each constituent corporation under its seal and the hands of its president or a vice president and its secretary or an assistant secretary and acknowledged before an officer authorized by the laws of Arkansas to take acknowledgment of deeds. (c) (1) The agreement or plan, adopted and certified as provided in subsections (a) and (b) of this section, shall be filed in duplicate originals with the Insurance Commissioner, and thence shall be taken and deemed to be the agreement and act of merger or consolidation or plan of exchange of shares of the constituent corporations, and, in the case of a consolidation, as the certificate of incorporation of the consolidated corporations. (2) A copy of the agreement or plan certified by the commissioner shall be evidence of the performance of all antecedent acts and conditions necessary to the merger and consolidation or plan of exchange of shares and of the existence of the consolidated corporation. (d) Any agreement of merger or consolidation or plan of exchange may be abandoned in conformity with the terms thereof as approved by the commissioner. However, in such event, due notice of the abandonment shall be immediately transmitted to the stockholders or members of all domestic insurance corporations which are parties thereto within ten (10) days of the abandonment in a manner and form as prescribed or approved by the commissioner. With regard to proposed affiliations between a depository institution, or any affiliate thereof, and an insurer, the hearing may be cancelled and the matter concluded and the notice of abandonment issued within the period required by federal law. Amended by Act 2021, No. 367,§ 16, eff. 7/28/2021. Acts 1971, No. 301, § 3; A.S.A. 1947, § 66-4247; Acts 2001, No. 1604, § 64.

(a) The directors, or a majority of them, of the corporations as desire to merge or consolidate or adopt a plan of exchange of shares pursuant to § 23-69-142 or § 23-69-143 shall enter into an agreement or adopt a plan signed by them and under the corporate seals of the respective corporations prescribing the terms and conditions of the merger or consolidation or plan of exchange of shares, the mode of carrying the same into effect, provisions with respect to abandonment, the effective date of the proposal or method of determination thereof and stating such other facts as are deemed applicable among those necessary to be set out in articles of incorporation, as provided in § 23-69-105 , as well as the manner and basis of any issuance, conversion, or exchange of shares of stock involved in the proposal, and with such other details and provisions as are deemed necessary or desirable.

(b) (1) The agreement of merger or consolidation shall be submitted to the stockholders, in the case of a stock insurer, or members, in the case of a mutual insurer, of each corporation at meetings thereof and called for the purpose of taking it into consideration. A plan of exchange of shares shall be submitted to the stockholders of the insurer to be acquired at a meeting thereof called for that purpose. (2) Notice shall be given of the time, place, and object of the meeting to each stockholder or member of record, whether entitled to vote or not. (3) At the meeting, the agreement or plan shall be considered and a vote by ballot, in person or by proxy, shall be taken for the adoption or rejection of the agreement or plan. (4) If the votes of stockholders, in the case of a stock insurer, holding stock of the corporation entitling them to exercise at least a majority of the voting power, or such other proportion of the stockholders as may be prescribed in the corporation's articles of incorporation for votes on such a proposal, or, in the case of a mutual insurer, the votes of the number or proportion of members of the insurer as required under § 23-69-143(b) , shall be for the adoption of the agreement or plan, then that fact shall be certified in the agreement or plan by the secretary or assistant secretary of each corporation, under the seal thereof. (5) The agreement or plan so adopted and certified shall be signed by each constituent corporation under its seal and the hands of its president or a vice president and its secretary or an assistant secretary and acknowledged before an officer authorized by the laws of Arkansas to take acknowledgment of deeds.

(1) The agreement of merger or consolidation shall be submitted to the stockholders, in the case of a stock insurer, or members, in the case of a mutual insurer, of each corporation at meetings thereof and called for the purpose of taking it into consideration. A plan of exchange of shares shall be submitted to the stockholders of the insurer to be acquired at a meeting thereof called for that purpose.

(2) Notice shall be given of the time, place, and object of the meeting to each stockholder or member of record, whether entitled to vote or not.

(3) At the meeting, the agreement or plan shall be considered and a vote by ballot, in person or by proxy, shall be taken for the adoption or rejection of the agreement or plan.

(4) If the votes of stockholders, in the case of a stock insurer, holding stock of the corporation entitling them to exercise at least a majority of the voting power, or such other proportion of the stockholders as may be prescribed in the corporation's articles of incorporation for votes on such a proposal, or, in the case of a mutual insurer, the votes of the number or proportion of members of the insurer as required under § 23-69-143(b) , shall be for the adoption of the agreement or plan, then that fact shall be certified in the agreement or plan by the secretary or assistant secretary of each corporation, under the seal thereof.

(5) The agreement or plan so adopted and certified shall be signed by each constituent corporation under its seal and the hands of its president or a vice president and its secretary or an assistant secretary and acknowledged before an officer authorized by the laws of Arkansas to take acknowledgment of deeds.

(c) (1) The agreement or plan, adopted and certified as provided in subsections (a) and (b) of this section, shall be filed in duplicate originals with the Insurance Commissioner, and thence shall be taken and deemed to be the agreement and act of merger or consolidation or plan of exchange of shares of the constituent corporations, and, in the case of a consolidation, as the certificate of incorporation of the consolidated corporations. (2) A copy of the agreement or plan certified by the commissioner shall be evidence of the performance of all antecedent acts and conditions necessary to the merger and consolidation or plan of exchange of shares and of the existence of the consolidated corporation.

(1) The agreement or plan, adopted and certified as provided in subsections (a) and (b) of this section, shall be filed in duplicate originals with the Insurance Commissioner, and thence shall be taken and deemed to be the agreement and act of merger or consolidation or plan of exchange of shares of the constituent corporations, and, in the case of a consolidation, as the certificate of incorporation of the consolidated corporations.

(2) A copy of the agreement or plan certified by the commissioner shall be evidence of the performance of all antecedent acts and conditions necessary to the merger and consolidation or plan of exchange of shares and of the existence of the consolidated corporation.

(d) Any agreement of merger or consolidation or plan of exchange may be abandoned in conformity with the terms thereof as approved by the commissioner. However, in such event, due notice of the abandonment shall be immediately transmitted to the stockholders or members of all domestic insurance corporations which are parties thereto within ten (10) days of the abandonment in a manner and form as prescribed or approved by the commissioner. With regard to proposed affiliations between a depository institution, or any affiliate thereof, and an insurer, the hearing may be cancelled and the matter concluded and the notice of abandonment issued within the period required by federal law.

Amended by Act 2021, No. 367,§ 16, eff. 7/28/2021.

Acts 1971, No. 301, § 3; A.S.A. 1947, § 66-4247; Acts 2001, No. 1604, § 64.
Ark. Code Ann. § 23-83-116 — AR Code / Title 23 / Chapter 83 / Section 23-83-116
Issuance of certificate to policyholder provision
Status: in_force

A group policy shall contain a provision that the insurer will issue to the policyholder for delivery to each person insured a certificate setting forth a statement as to the insurance protection to which he or she is entitled, to whom the insurance benefits are payable, as to any dependent's coverage included in such a certificate, and the rights and conditions set forth in §§ 23-83-117 - 23-83-120 and 23-83-122 . Acts 1981, No. 898, § 16; A.S.A. 1947, § 66-3516.

A group policy shall contain a provision that the insurer will issue to the policyholder for delivery to each person insured a certificate setting forth a statement as to the insurance protection to which he or she is entitled, to whom the insurance benefits are payable, as to any dependent's coverage included in such a certificate, and the rights and conditions set forth in §§ 23-83-117 - 23-83-120 and 23-83-122 .

Acts 1981, No. 898, § 16; A.S.A. 1947, § 66-3516.
Ark. Code Ann. § 23-53-101 — AR Code / Title 23 / Chapter 53 / Section 23-53-101
Title
Status: in_force

This chapter shall be known as the "Arkansas Home Loan Protection Act". Acts 2003, No. 1340, § 1.

This chapter shall be known as the "Arkansas Home Loan Protection Act".

Acts 2003, No. 1340, § 1.
Ark. Code Ann. § 23-18-1202 — AR Code / Title 23 / Chapter 18 / Subchapter 12 / Section 23-18-1202
Legislative findings and intent
Status: in_force

(a) The General Assembly finds that: (1) Generally, local entities do not budget for or have funds available for broadband due-diligence business studies in connection with making application for federal grants or loans for broadband development programs; (2) In order to spur further development of broadband in rural Arkansas, it is necessary for local entities to conduct due-diligence business studies before applying for federal grants or loans for broadband development programs; (3) Expenses associated with broadband due-diligence business studies can be burdensome to rural Arkansas communities, and it is in the best interest of all Arkansans to make an investment to develop broadband in rural areas; (4) Under current Arkansas law, only certain eligible telecommunications carriers have benefited from the Arkansas High Cost Fund under § 23-17-404 , which underwrites broadband deployment; and (5) It is necessary to provide funds to local entities to further widespread broadband deployment, particularly in unserved and underserved rural Arkansas, and to determine the feasibility of broadband deployment for local entities that currently do not have federally defined broadband services and where these broadband due-diligence business studies have not been conducted before. (b) It is the intent of the General Assembly to provide funds to local entities to defray expenses for broadband due-diligence business studies in connection with preparations for federal grant and loan applications for broadband development programs administered by the Federal Communications Commission, the United States Department of Agriculture, or another federal agency to spur federally defined broadband development in rural Arkansas. Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.

(a) The General Assembly finds that: (1) Generally, local entities do not budget for or have funds available for broadband due-diligence business studies in connection with making application for federal grants or loans for broadband development programs; (2) In order to spur further development of broadband in rural Arkansas, it is necessary for local entities to conduct due-diligence business studies before applying for federal grants or loans for broadband development programs; (3) Expenses associated with broadband due-diligence business studies can be burdensome to rural Arkansas communities, and it is in the best interest of all Arkansans to make an investment to develop broadband in rural areas; (4) Under current Arkansas law, only certain eligible telecommunications carriers have benefited from the Arkansas High Cost Fund under § 23-17-404 , which underwrites broadband deployment; and (5) It is necessary to provide funds to local entities to further widespread broadband deployment, particularly in unserved and underserved rural Arkansas, and to determine the feasibility of broadband deployment for local entities that currently do not have federally defined broadband services and where these broadband due-diligence business studies have not been conducted before.

(1) Generally, local entities do not budget for or have funds available for broadband due-diligence business studies in connection with making application for federal grants or loans for broadband development programs;

(2) In order to spur further development of broadband in rural Arkansas, it is necessary for local entities to conduct due-diligence business studies before applying for federal grants or loans for broadband development programs;

(3) Expenses associated with broadband due-diligence business studies can be burdensome to rural Arkansas communities, and it is in the best interest of all Arkansans to make an investment to develop broadband in rural areas;

(4) Under current Arkansas law, only certain eligible telecommunications carriers have benefited from the Arkansas High Cost Fund under § 23-17-404 , which underwrites broadband deployment; and

(5) It is necessary to provide funds to local entities to further widespread broadband deployment, particularly in unserved and underserved rural Arkansas, and to determine the feasibility of broadband deployment for local entities that currently do not have federally defined broadband services and where these broadband due-diligence business studies have not been conducted before.

(b) It is the intent of the General Assembly to provide funds to local entities to defray expenses for broadband due-diligence business studies in connection with preparations for federal grant and loan applications for broadband development programs administered by the Federal Communications Commission, the United States Department of Agriculture, or another federal agency to spur federally defined broadband development in rural Arkansas.

Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.
Ark. Code Ann. § 23-72-114 — AR Code / Title 23 / Chapter 72 / Section 23-72-114
Benefits not subject to attachment
Status: in_force

No money or other benefits to be paid, provided, or rendered by any insurer, not to exceed one thousand dollars ($1,000), shall be liable to attachment, garnishment, or other process, or be seized, taken, appropriated, or applied by any legal or equitable process or operation of law to pay any debt or liability of any member or beneficiary, or any other person who may have a right thereunder, either before or after payment. Acts 1959, No. 148, § 569; A.S.A. 1947, § 66-4514.

No money or other benefits to be paid, provided, or rendered by any insurer, not to exceed one thousand dollars ($1,000), shall be liable to attachment, garnishment, or other process, or be seized, taken, appropriated, or applied by any legal or equitable process or operation of law to pay any debt or liability of any member or beneficiary, or any other person who may have a right thereunder, either before or after payment.

Acts 1959, No. 148, § 569; A.S.A. 1947, § 66-4514.
Ark. Code Ann. § 23-18-504 — AR Code / Title 23 / Chapter 18 / Subchapter 5 / Section 23-18-504
Exemptions - Waiver
Status: in_force

(a) This subchapter does not apply to a major utility facility: (1) For which, before July 24, 1973, an application for the approval of the major utility facility was made to any federal, state, regional, or local governmental agency that possesses the jurisdiction to consider the matters prescribed for finding and determination in § 23-18-519(a) and (b) ; (2) For which, before July 24, 1973, the Arkansas Public Service Commission issued a certificate of convenience and necessity or otherwise approved the construction of the major utility facility; (3) Over which an agency of the federal government has exclusive jurisdiction; (4) A majority of which is owned by one (1) or more exempt wholesale generators as defined in § 23-1-101(5) ; (5) That is a major utility facility for generating electric energy, if the majority of the major utility facility is owned by any person, including without limitation a public utility that will not recover the cost of the major utility facility in rates subject to regulation by the commission; or (6) That is a gas pipeline of less than five (5) miles in length constructed: (A) Primarily for serving a single customer or a group of customers that is under common ownership or control; (B) For use by the customer or group of customers that have entered into a lease to facilitate the issuance of bonds under Title 14, Chapter 164 of this Code; and (C) Entirely on land: (i) Owned by the customer or group of customers to be served; or (ii) Leased by the customer or group of customers to be served. (b) (1) (A) A person intending to construct a major utility facility excluded or exempted from this subchapter may elect to waive the exclusion or exemption by delivering notice of the waiver to the commission. (B) The filing of an application by a public utility under § 23-18-511 is not a notice of waiver or an election to waive an exclusion or exemption. (C) The responsibility for determining whether a proposed major utility facility is exempt from the requirements of this subchapter is within the primary and exclusive jurisdiction of the commission. (2) Upon the commission's receipt of the notice of an election to waive the exclusion or exemption, this subchapter shall thereafter apply to each major utility facility identified in the notice. (c) A public utility owning a minority interest in an exempt major utility facility shall not be entitled to recover its costs of ownership or operation in rates subject to the jurisdiction of the commission without first obtaining the right to own and operate a portion of the major utility facility under a certificate of public convenience and necessity under §§ 23-3-201 - 23-3-206 . Amended by Act 2023, No. 361,§ 1, eff. 3/21/2023. Acts 1973, No. 164, § 4; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.3; Acts 1999, No. 1322, § 3; 2011, No. 910, § 3.

(a) This subchapter does not apply to a major utility facility: (1) For which, before July 24, 1973, an application for the approval of the major utility facility was made to any federal, state, regional, or local governmental agency that possesses the jurisdiction to consider the matters prescribed for finding and determination in § 23-18-519(a) and (b) ; (2) For which, before July 24, 1973, the Arkansas Public Service Commission issued a certificate of convenience and necessity or otherwise approved the construction of the major utility facility; (3) Over which an agency of the federal government has exclusive jurisdiction; (4) A majority of which is owned by one (1) or more exempt wholesale generators as defined in § 23-1-101(5) ; (5) That is a major utility facility for generating electric energy, if the majority of the major utility facility is owned by any person, including without limitation a public utility that will not recover the cost of the major utility facility in rates subject to regulation by the commission; or (6) That is a gas pipeline of less than five (5) miles in length constructed: (A) Primarily for serving a single customer or a group of customers that is under common ownership or control; (B) For use by the customer or group of customers that have entered into a lease to facilitate the issuance of bonds under Title 14, Chapter 164 of this Code; and (C) Entirely on land: (i) Owned by the customer or group of customers to be served; or (ii) Leased by the customer or group of customers to be served.

(1) For which, before July 24, 1973, an application for the approval of the major utility facility was made to any federal, state, regional, or local governmental agency that possesses the jurisdiction to consider the matters prescribed for finding and determination in § 23-18-519(a) and (b) ;

(2) For which, before July 24, 1973, the Arkansas Public Service Commission issued a certificate of convenience and necessity or otherwise approved the construction of the major utility facility;

(3) Over which an agency of the federal government has exclusive jurisdiction;

(4) A majority of which is owned by one (1) or more exempt wholesale generators as defined in § 23-1-101(5) ;

(5) That is a major utility facility for generating electric energy, if the majority of the major utility facility is owned by any person, including without limitation a public utility that will not recover the cost of the major utility facility in rates subject to regulation by the commission; or

(6) That is a gas pipeline of less than five (5) miles in length constructed: (A) Primarily for serving a single customer or a group of customers that is under common ownership or control; (B) For use by the customer or group of customers that have entered into a lease to facilitate the issuance of bonds under Title 14, Chapter 164 of this Code; and (C) Entirely on land: (i) Owned by the customer or group of customers to be served; or (ii) Leased by the customer or group of customers to be served.

(A) Primarily for serving a single customer or a group of customers that is under common ownership or control;

(B) For use by the customer or group of customers that have entered into a lease to facilitate the issuance of bonds under Title 14, Chapter 164 of this Code; and

(C) Entirely on land: (i) Owned by the customer or group of customers to be served; or (ii) Leased by the customer or group of customers to be served.

(i) Owned by the customer or group of customers to be served; or

(ii) Leased by the customer or group of customers to be served.

(b) (1) (A) A person intending to construct a major utility facility excluded or exempted from this subchapter may elect to waive the exclusion or exemption by delivering notice of the waiver to the commission. (B) The filing of an application by a public utility under § 23-18-511 is not a notice of waiver or an election to waive an exclusion or exemption. (C) The responsibility for determining whether a proposed major utility facility is exempt from the requirements of this subchapter is within the primary and exclusive jurisdiction of the commission. (2) Upon the commission's receipt of the notice of an election to waive the exclusion or exemption, this subchapter shall thereafter apply to each major utility facility identified in the notice.

(1) (A) A person intending to construct a major utility facility excluded or exempted from this subchapter may elect to waive the exclusion or exemption by delivering notice of the waiver to the commission. (B) The filing of an application by a public utility under § 23-18-511 is not a notice of waiver or an election to waive an exclusion or exemption. (C) The responsibility for determining whether a proposed major utility facility is exempt from the requirements of this subchapter is within the primary and exclusive jurisdiction of the commission.

(A) A person intending to construct a major utility facility excluded or exempted from this subchapter may elect to waive the exclusion or exemption by delivering notice of the waiver to the commission.

(B) The filing of an application by a public utility under § 23-18-511 is not a notice of waiver or an election to waive an exclusion or exemption.

(C) The responsibility for determining whether a proposed major utility facility is exempt from the requirements of this subchapter is within the primary and exclusive jurisdiction of the commission.

(2) Upon the commission's receipt of the notice of an election to waive the exclusion or exemption, this subchapter shall thereafter apply to each major utility facility identified in the notice.

(c) A public utility owning a minority interest in an exempt major utility facility shall not be entitled to recover its costs of ownership or operation in rates subject to the jurisdiction of the commission without first obtaining the right to own and operate a portion of the major utility facility under a certificate of public convenience and necessity under §§ 23-3-201 - 23-3-206 .

Amended by Act 2023, No. 361,§ 1, eff. 3/21/2023.

Acts 1973, No. 164, § 4; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.3; Acts 1999, No. 1322, § 3; 2011, No. 910, § 3.
Ark. Code Ann. § 23-69-507 — AR Code / Title 23 / Chapter 69 / Subchapter 5 / Section 23-69-507
Opinion report - Review requirements
Status: in_force

(a) The opinion report required under § 23-69-506(b)(14) shall provide the following: (1) A statement of the independent expert's professional qualifications, including a description of the experience that qualifies him or her as an expert suitable for the engagement; (2) A statement indicating whether or not the independent expert has, or has had, direct or indirect interest in the transferring insurer or the assuming insurer or any affiliate of the transferring insurer or assuming insurer; (3) A statement as to the scope of the opinion report; (4) A summary of the terms of the insurance business transfer plan to the extent relevant to the opinion report; (5) Documents, reports, and other material information the independent expert has considered in preparing the opinion report and if any information requested has not been provided; (6) A statement indicating the extent to which the independent expert has relied on the information and judgment of others; (7) The identities of the individuals on whom the independent expert has relied and a statement as to why, in the opinion of the independent expert, such reliance is reasonable; (8) A statement of the independent expert's opinion of the likely effects of the insurance business transfer plan on policyholders and claimants, distinguishing between the following: (A) Transferring policyholders and claimants; (B) Policyholders and claimants of the transferring insurer whose policies will not be transferred; and (C) Policyholders and claimants of the assuming insurer; (9) For each opinion that the independent expert expresses in the opinion report, a statement of the facts and circumstances supporting the opinion; and (10) A statement as to whether the security position of policyholders that are affected by the insurance business transfer are adversely materially affected by the insurance business transfer. (b) The independent expert shall include in an opinion report: (1) An analysis of the transferring insurer's actuarial review of reserves for the subject business to determine the reserve adequacy; (2) An analysis of the financial condition of the transferring insurer and the assuming insurer and the effect the insurance business transfer will have on the financial condition of each insurer; (3) A review of the plans or proposals the assuming insurer has with respect to the administration of the policies subject to the proposed insurance business transfer; (4) An analysis of whether the proposed insurance business transfer will have an adverse material impact on the policyholders and claimants of the transferring insurer and the assuming insurer; (5) An analysis of the assuming insurer's corporate governance structure to ensure that there is proper board and management oversight and expertise to manage the subject business; and (6) Any other information that the Insurance Commissioner requests in order to review the insurance business transfer. Added by Act 2021, No. 1018,§ 1, eff. 7/28/2021.

(a) The opinion report required under § 23-69-506(b)(14) shall provide the following: (1) A statement of the independent expert's professional qualifications, including a description of the experience that qualifies him or her as an expert suitable for the engagement; (2) A statement indicating whether or not the independent expert has, or has had, direct or indirect interest in the transferring insurer or the assuming insurer or any affiliate of the transferring insurer or assuming insurer; (3) A statement as to the scope of the opinion report; (4) A summary of the terms of the insurance business transfer plan to the extent relevant to the opinion report; (5) Documents, reports, and other material information the independent expert has considered in preparing the opinion report and if any information requested has not been provided; (6) A statement indicating the extent to which the independent expert has relied on the information and judgment of others; (7) The identities of the individuals on whom the independent expert has relied and a statement as to why, in the opinion of the independent expert, such reliance is reasonable; (8) A statement of the independent expert's opinion of the likely effects of the insurance business transfer plan on policyholders and claimants, distinguishing between the following: (A) Transferring policyholders and claimants; (B) Policyholders and claimants of the transferring insurer whose policies will not be transferred; and (C) Policyholders and claimants of the assuming insurer; (9) For each opinion that the independent expert expresses in the opinion report, a statement of the facts and circumstances supporting the opinion; and (10) A statement as to whether the security position of policyholders that are affected by the insurance business transfer are adversely materially affected by the insurance business transfer.

(1) A statement of the independent expert's professional qualifications, including a description of the experience that qualifies him or her as an expert suitable for the engagement;

(2) A statement indicating whether or not the independent expert has, or has had, direct or indirect interest in the transferring insurer or the assuming insurer or any affiliate of the transferring insurer or assuming insurer;

(3) A statement as to the scope of the opinion report;

(4) A summary of the terms of the insurance business transfer plan to the extent relevant to the opinion report;

(5) Documents, reports, and other material information the independent expert has considered in preparing the opinion report and if any information requested has not been provided;

(6) A statement indicating the extent to which the independent expert has relied on the information and judgment of others;

(7) The identities of the individuals on whom the independent expert has relied and a statement as to why, in the opinion of the independent expert, such reliance is reasonable;

(8) A statement of the independent expert's opinion of the likely effects of the insurance business transfer plan on policyholders and claimants, distinguishing between the following: (A) Transferring policyholders and claimants; (B) Policyholders and claimants of the transferring insurer whose policies will not be transferred; and (C) Policyholders and claimants of the assuming insurer;

(A) Transferring policyholders and claimants;

(B) Policyholders and claimants of the transferring insurer whose policies will not be transferred; and

(C) Policyholders and claimants of the assuming insurer;

(9) For each opinion that the independent expert expresses in the opinion report, a statement of the facts and circumstances supporting the opinion; and

(10) A statement as to whether the security position of policyholders that are affected by the insurance business transfer are adversely materially affected by the insurance business transfer.

(b) The independent expert shall include in an opinion report: (1) An analysis of the transferring insurer's actuarial review of reserves for the subject business to determine the reserve adequacy; (2) An analysis of the financial condition of the transferring insurer and the assuming insurer and the effect the insurance business transfer will have on the financial condition of each insurer; (3) A review of the plans or proposals the assuming insurer has with respect to the administration of the policies subject to the proposed insurance business transfer; (4) An analysis of whether the proposed insurance business transfer will have an adverse material impact on the policyholders and claimants of the transferring insurer and the assuming insurer; (5) An analysis of the assuming insurer's corporate governance structure to ensure that there is proper board and management oversight and expertise to manage the subject business; and (6) Any other information that the Insurance Commissioner requests in order to review the insurance business transfer.

(1) An analysis of the transferring insurer's actuarial review of reserves for the subject business to determine the reserve adequacy;

(2) An analysis of the financial condition of the transferring insurer and the assuming insurer and the effect the insurance business transfer will have on the financial condition of each insurer;

(3) A review of the plans or proposals the assuming insurer has with respect to the administration of the policies subject to the proposed insurance business transfer;

(4) An analysis of whether the proposed insurance business transfer will have an adverse material impact on the policyholders and claimants of the transferring insurer and the assuming insurer;

(5) An analysis of the assuming insurer's corporate governance structure to ensure that there is proper board and management oversight and expertise to manage the subject business; and

(6) Any other information that the Insurance Commissioner requests in order to review the insurance business transfer.

Added by Act 2021, No. 1018,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 23-50-105 — AR Code / Title 23 / Chapter 50 / Section 23-50-105
Embezzlement, misuse of funds, etc., by officer, director, etc
Status: in_force

(a) The following persons shall be guilty of a felony: (1) Any officer, director, agent, or employee of any bank or subsidiary trust company who: (A) Embezzles or willfully misapplies any of the moneys, funds, or credits of the bank or subsidiary trust company; (B) Without authority from the directors of the bank or subsidiary trust company issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, or assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree; or (C) Makes any false entry in any book, report, or statement of the bank or trust company with the purpose in any case to injure or defraud the bank or subsidiary trust company, the Bank Commissioner, any agent or examiner appointed to examine the affairs of the bank or subsidiary trust company, or the State Banking Board; (2) Every receiver or liquidating agent of a bank or subsidiary trust company who, with like purpose to defraud or injure, shall embezzle or willfully misapply any of the moneys, funds, or assets of his or her trust; and (3) Every agent, attorney, employee, or assistant of any receiver or liquidating agent of any bank or subsidiary trust company who with like purpose to defraud or injure shall embezzle or willfully misapply any of the moneys, funds, or assets of the trust of the receiver or liquidating agent. (b) Upon conviction, the person shall be fined in any sum not more than one million dollars ($1,000,000) or shall be imprisoned in the Arkansas penitentiary for not more than thirty (30) years, or both. Acts 1997, No. 89, § 1; 2005, No. 1994, § 446.

(a) The following persons shall be guilty of a felony: (1) Any officer, director, agent, or employee of any bank or subsidiary trust company who: (A) Embezzles or willfully misapplies any of the moneys, funds, or credits of the bank or subsidiary trust company; (B) Without authority from the directors of the bank or subsidiary trust company issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, or assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree; or (C) Makes any false entry in any book, report, or statement of the bank or trust company with the purpose in any case to injure or defraud the bank or subsidiary trust company, the Bank Commissioner, any agent or examiner appointed to examine the affairs of the bank or subsidiary trust company, or the State Banking Board; (2) Every receiver or liquidating agent of a bank or subsidiary trust company who, with like purpose to defraud or injure, shall embezzle or willfully misapply any of the moneys, funds, or assets of his or her trust; and (3) Every agent, attorney, employee, or assistant of any receiver or liquidating agent of any bank or subsidiary trust company who with like purpose to defraud or injure shall embezzle or willfully misapply any of the moneys, funds, or assets of the trust of the receiver or liquidating agent.

(1) Any officer, director, agent, or employee of any bank or subsidiary trust company who: (A) Embezzles or willfully misapplies any of the moneys, funds, or credits of the bank or subsidiary trust company; (B) Without authority from the directors of the bank or subsidiary trust company issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, or assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree; or (C) Makes any false entry in any book, report, or statement of the bank or trust company with the purpose in any case to injure or defraud the bank or subsidiary trust company, the Bank Commissioner, any agent or examiner appointed to examine the affairs of the bank or subsidiary trust company, or the State Banking Board;

(A) Embezzles or willfully misapplies any of the moneys, funds, or credits of the bank or subsidiary trust company;

(B) Without authority from the directors of the bank or subsidiary trust company issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, or assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree; or

(C) Makes any false entry in any book, report, or statement of the bank or trust company with the purpose in any case to injure or defraud the bank or subsidiary trust company, the Bank Commissioner, any agent or examiner appointed to examine the affairs of the bank or subsidiary trust company, or the State Banking Board;

(2) Every receiver or liquidating agent of a bank or subsidiary trust company who, with like purpose to defraud or injure, shall embezzle or willfully misapply any of the moneys, funds, or assets of his or her trust; and

(3) Every agent, attorney, employee, or assistant of any receiver or liquidating agent of any bank or subsidiary trust company who with like purpose to defraud or injure shall embezzle or willfully misapply any of the moneys, funds, or assets of the trust of the receiver or liquidating agent.

(b) Upon conviction, the person shall be fined in any sum not more than one million dollars ($1,000,000) or shall be imprisoned in the Arkansas penitentiary for not more than thirty (30) years, or both.

Acts 1997, No. 89, § 1; 2005, No. 1994, § 446.
Ark. Code Ann. § 23-46-207 — AR Code / Title 23 / Chapter 46 / Subchapter 2 / Section 23-46-207
Interests in financial institutions prohibited
Status: in_force

(a) (1) No employee or officer of the State Bank Department, or employee or officer of the Department of Commerce working within the State Bank Department, who participates in the examination of a financial institution, or who may be called upon to make an official decision or determination affecting the operation of a financial institution, shall be an officer, director, attorney, owner, or holder of stock in any state bank, registered out-of-state bank, or bank holding company which controls a state bank or a registered out-of-state bank, or receive, directly or indirectly, any payment or gratuity from any such organizations. (2) A person subject to this section may not borrow money from a state bank or registered out-of-state bank which is an out-of-state state-chartered bank except as provided in subsection (b) of this section. (b) A person subject to this section may: (1) Be a depositor in any financial institution that the department regulates and participate in such overdraft programs associated with such deposit relationships as the commissioner may, by rule, allow; and (2) Purchase banking services, other than credit services, under rates and terms generally available to other customers of the financial institution. Amended by Act 2019, No. 315,§ 2525, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 583, eff. 7/1/2019. Acts 1997, No. 89, § 1; 1997, No. 408, § 3.

(a) (1) No employee or officer of the State Bank Department, or employee or officer of the Department of Commerce working within the State Bank Department, who participates in the examination of a financial institution, or who may be called upon to make an official decision or determination affecting the operation of a financial institution, shall be an officer, director, attorney, owner, or holder of stock in any state bank, registered out-of-state bank, or bank holding company which controls a state bank or a registered out-of-state bank, or receive, directly or indirectly, any payment or gratuity from any such organizations. (2) A person subject to this section may not borrow money from a state bank or registered out-of-state bank which is an out-of-state state-chartered bank except as provided in subsection (b) of this section.

(1) No employee or officer of the State Bank Department, or employee or officer of the Department of Commerce working within the State Bank Department, who participates in the examination of a financial institution, or who may be called upon to make an official decision or determination affecting the operation of a financial institution, shall be an officer, director, attorney, owner, or holder of stock in any state bank, registered out-of-state bank, or bank holding company which controls a state bank or a registered out-of-state bank, or receive, directly or indirectly, any payment or gratuity from any such organizations.

(2) A person subject to this section may not borrow money from a state bank or registered out-of-state bank which is an out-of-state state-chartered bank except as provided in subsection (b) of this section.

(b) A person subject to this section may: (1) Be a depositor in any financial institution that the department regulates and participate in such overdraft programs associated with such deposit relationships as the commissioner may, by rule, allow; and (2) Purchase banking services, other than credit services, under rates and terms generally available to other customers of the financial institution.

(1) Be a depositor in any financial institution that the department regulates and participate in such overdraft programs associated with such deposit relationships as the commissioner may, by rule, allow; and

(2) Purchase banking services, other than credit services, under rates and terms generally available to other customers of the financial institution.

Amended by Act 2019, No. 315,§ 2525, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 583, eff. 7/1/2019.

Acts 1997, No. 89, § 1; 1997, No. 408, § 3.
Ark. Code Ann. § 23-96-109 — AR Code / Title 23 / Chapter 96 / Section 23-96-109
Creation of association - Examination - Annual report - Tax exemption - Board of directors
Status: in_force

(a) (1) (A) There is created a nonprofit legal entity to be known as the "Arkansas Life and Health Insurance Guaranty Association". (B) All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state. (C) The association shall perform its functions under the plan of operation established and approved under § 23-96-116 and shall exercise its powers through a board of directors established under subsection (b) of this section. (2) (A) The association shall come under the immediate supervision of the Insurance Commissioner and shall be subject to the applicable insurance laws of this state. (B) Meetings or records of the association may be opened to the public upon majority vote of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association. (3) The association shall be subject to examination and regulation by the commissioner. (4) (A) The board shall submit to the commissioner each year, not later than one hundred twenty (120) days after the association's fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year. (B) Upon request of a member insurer, the association shall provide the member insurer with a copy of the report. (5) For purposes of administration and assessment, the association shall maintain two (2) accounts: (A) The life insurance and annuity account, which includes the following subaccounts: (i) Life insurance account; (ii) Annuity account, which shall include annuity contracts owned by a governmental retirement plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code, but shall otherwise exclude unallocated annuities; and (iii) Unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code; and (B) The health account. (6) The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property. (b) (1) (A) The board shall consist of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation. (B) The members of the board shall be selected by member insurers subject to the approval of the commissioner. (C) Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner. (2) In approving selections to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented. (3) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board, but members of the board shall not otherwise be compensated by the association for their services. Amended by Act 2019, No. 520,§ 2, eff. 7/24/2019. Acts 1989, No. 444, §§ 6, 7, 15, 16; 1997, No. 950, § 1; 2001, No. 1603, §§ 55, 56.

(a) (1) (A) There is created a nonprofit legal entity to be known as the "Arkansas Life and Health Insurance Guaranty Association". (B) All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state. (C) The association shall perform its functions under the plan of operation established and approved under § 23-96-116 and shall exercise its powers through a board of directors established under subsection (b) of this section. (2) (A) The association shall come under the immediate supervision of the Insurance Commissioner and shall be subject to the applicable insurance laws of this state. (B) Meetings or records of the association may be opened to the public upon majority vote of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association. (3) The association shall be subject to examination and regulation by the commissioner. (4) (A) The board shall submit to the commissioner each year, not later than one hundred twenty (120) days after the association's fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year. (B) Upon request of a member insurer, the association shall provide the member insurer with a copy of the report. (5) For purposes of administration and assessment, the association shall maintain two (2) accounts: (A) The life insurance and annuity account, which includes the following subaccounts: (i) Life insurance account; (ii) Annuity account, which shall include annuity contracts owned by a governmental retirement plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code, but shall otherwise exclude unallocated annuities; and (iii) Unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code; and (B) The health account. (6) The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.

(1) (A) There is created a nonprofit legal entity to be known as the "Arkansas Life and Health Insurance Guaranty Association". (B) All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state. (C) The association shall perform its functions under the plan of operation established and approved under § 23-96-116 and shall exercise its powers through a board of directors established under subsection (b) of this section.

(A) There is created a nonprofit legal entity to be known as the "Arkansas Life and Health Insurance Guaranty Association".

(B) All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state.

(C) The association shall perform its functions under the plan of operation established and approved under § 23-96-116 and shall exercise its powers through a board of directors established under subsection (b) of this section.

(2) (A) The association shall come under the immediate supervision of the Insurance Commissioner and shall be subject to the applicable insurance laws of this state. (B) Meetings or records of the association may be opened to the public upon majority vote of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association.

(A) The association shall come under the immediate supervision of the Insurance Commissioner and shall be subject to the applicable insurance laws of this state.

(B) Meetings or records of the association may be opened to the public upon majority vote of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association.

(3) The association shall be subject to examination and regulation by the commissioner.

(4) (A) The board shall submit to the commissioner each year, not later than one hundred twenty (120) days after the association's fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year. (B) Upon request of a member insurer, the association shall provide the member insurer with a copy of the report.

(A) The board shall submit to the commissioner each year, not later than one hundred twenty (120) days after the association's fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year.

(B) Upon request of a member insurer, the association shall provide the member insurer with a copy of the report.

(5) For purposes of administration and assessment, the association shall maintain two (2) accounts: (A) The life insurance and annuity account, which includes the following subaccounts: (i) Life insurance account; (ii) Annuity account, which shall include annuity contracts owned by a governmental retirement plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code, but shall otherwise exclude unallocated annuities; and (iii) Unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code; and (B) The health account.

(A) The life insurance and annuity account, which includes the following subaccounts: (i) Life insurance account; (ii) Annuity account, which shall include annuity contracts owned by a governmental retirement plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code, but shall otherwise exclude unallocated annuities; and (iii) Unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code; and

(i) Life insurance account;

(ii) Annuity account, which shall include annuity contracts owned by a governmental retirement plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code, but shall otherwise exclude unallocated annuities; and

(iii) Unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan, or its trustee, established under section 401(k), section 403(b), or section 457 of the Internal Revenue Code; and

(B) The health account.

(6) The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.

(b) (1) (A) The board shall consist of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation. (B) The members of the board shall be selected by member insurers subject to the approval of the commissioner. (C) Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner. (2) In approving selections to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented. (3) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board, but members of the board shall not otherwise be compensated by the association for their services.

(1) (A) The board shall consist of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation. (B) The members of the board shall be selected by member insurers subject to the approval of the commissioner. (C) Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner.

(A) The board shall consist of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation.

(B) The members of the board shall be selected by member insurers subject to the approval of the commissioner.

(C) Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner.

(2) In approving selections to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.

(3) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board, but members of the board shall not otherwise be compensated by the association for their services.

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

Acts 1989, No. 444, §§ 6, 7, 15, 16; 1997, No. 950, § 1; 2001, No. 1603, §§ 55, 56.
Ark. Code Ann. § 23-90-110 — AR Code / Title 23 / Chapter 90 / Section 23-90-110
Arkansas Property and Casualty Advisory Association - Right of officers, directors, and employees to contract - Interested parties
Status: in_force

(a) Any insurer that has an officer, director, or employee serving as a member of the Arkansas Property and Casualty Advisory Association shall not lose the right to negotiate for and enter into contracts of reinsurance or assumption of liability or contracts of substitution to provide for liabilities for covered claims with the receiver of an insolvent insurer. The entering into any contract shall not be deemed a conflict of interest. (b) The association or any insurer assessed under this chapter shall be an interested party under § 23-68-118 . Acts 1977, No. 871, § 14; 1983, No. 522, § 39; A.S.A. 1947, § 66-5514.

(a) Any insurer that has an officer, director, or employee serving as a member of the Arkansas Property and Casualty Advisory Association shall not lose the right to negotiate for and enter into contracts of reinsurance or assumption of liability or contracts of substitution to provide for liabilities for covered claims with the receiver of an insolvent insurer. The entering into any contract shall not be deemed a conflict of interest.

(b) The association or any insurer assessed under this chapter shall be an interested party under § 23-68-118 .

Acts 1977, No. 871, § 14; 1983, No. 522, § 39; A.S.A. 1947, § 66-5514.
Ark. Code Ann. § 23-88-204 — AR Code / Title 23 / Chapter 88 / Subchapter 2 / Section 23-88-204
Penalty
Status: in_force

Any insurer willfully violating the provisions of this subchapter shall be subject to a fine imposed by the Insurance Commissioner of not more than five hundred dollars ($500). Acts 1983, No. 359, § 6; A.S.A. 1947, § 66-5611.

Any insurer willfully violating the provisions of this subchapter shall be subject to a fine imposed by the Insurance Commissioner of not more than five hundred dollars ($500).

Acts 1983, No. 359, § 6; A.S.A. 1947, § 66-5611.
Ark. Code Ann. § 23-73-116 — AR Code / Title 23 / Chapter 73 / Section 23-73-116
Fees
Status: in_force

Farmers' mutual aid companies or associations shall pay no annual fees or other charges except as required under the State Insurance Department Trust Fund Act, § 23-61-701 et seq., and under §§ 23-73-113 and 23-73-114 . Acts 1959, No. 148, § 592; A.S.A. 1947, § 66-4614; Acts 1997, No. 774, § 1.

Farmers' mutual aid companies or associations shall pay no annual fees or other charges except as required under the State Insurance Department Trust Fund Act, § 23-61-701 et seq., and under §§ 23-73-113 and 23-73-114 .

Acts 1959, No. 148, § 592; A.S.A. 1947, § 66-4614; Acts 1997, No. 774, § 1.
Ark. Code Ann. § 23-80-202 — AR Code / Title 23 / Chapter 80 / Subchapter 2 / Section 23-80-202
Purpose
Status: in_force

(a) The purpose of this subchapter is to establish minimum standards for language used in policies, contracts, and certificates of life insurance and annuities, accident and health insurance, credit life insurance, and credit disability insurance delivered or issued for delivery in this state to facilitate ease of reading by insureds. (b) (1) This subchapter is not intended to increase the risk assumed by insurance companies or other entities subject to this subchapter or to supersede their obligation to comply with the substance of other insurance legislation applicable to life, accident and health, credit life, or credit disability insurance policies or annuities. (2) This subchapter is not intended to impede flexibility and innovation in the development of policy forms or content or to lead to the standardization of policy forms or content. Acts 1979, No. 258, § 2; A.S.A. 1947, § 66-3252; Acts 2001, No. 1603, § 40.

(a) The purpose of this subchapter is to establish minimum standards for language used in policies, contracts, and certificates of life insurance and annuities, accident and health insurance, credit life insurance, and credit disability insurance delivered or issued for delivery in this state to facilitate ease of reading by insureds.

(b) (1) This subchapter is not intended to increase the risk assumed by insurance companies or other entities subject to this subchapter or to supersede their obligation to comply with the substance of other insurance legislation applicable to life, accident and health, credit life, or credit disability insurance policies or annuities. (2) This subchapter is not intended to impede flexibility and innovation in the development of policy forms or content or to lead to the standardization of policy forms or content.

(1) This subchapter is not intended to increase the risk assumed by insurance companies or other entities subject to this subchapter or to supersede their obligation to comply with the substance of other insurance legislation applicable to life, accident and health, credit life, or credit disability insurance policies or annuities.

(2) This subchapter is not intended to impede flexibility and innovation in the development of policy forms or content or to lead to the standardization of policy forms or content.

Acts 1979, No. 258, § 2; A.S.A. 1947, § 66-3252; Acts 2001, No. 1603, § 40.
Ark. Code Ann. § 23-42-401 — AR Code / Title 23 / Chapter 42 / Subchapter 4 / Section 23-42-401
Registration by notification
Status: in_force

(a) The following securities may be registered by notification, whether or not they are also eligible for registration by coordination under § 23-42-402 : (1) Any security whose issuer and any predecessors have been in continuous operation for at least five (5) years if: (A) There has been no default during the current fiscal year or within the three (3) preceding fiscal years in the payment of principal, interest, or dividends on any security of the issuer, or any predecessor, with a fixed maturity or a fixed interest or dividend provision; and (B) The issuer and any predecessors during the past three (3) fiscal years have had average net earnings, determined in accordance with generally accepted accounting practices, which: (i) Are applicable to all securities without a fixed maturity or a fixed interest or dividend provision outstanding at the date the registration statement is filed and are equal to at least three percent (3%) of the amount of the outstanding securities as measured by the maximum offering price or the market price on a day, selected by the registrant, within thirty (30) days before the date of filing the registration statement, whichever is higher, or book value on a day, selected by the registrant, within ninety (90) days of the date of filing the registration statement, to the extent that there is neither a readily determinable market price nor a cash offering price; or (ii) If the issuer and any predecessors have not had any security of the type specified in subdivision (a)(1)(B)(i) of this section outstanding for three (3) full fiscal years equal to at least five percent (5%) of the amount as measured in subdivision (a)(1)(B)(i) of this section of all securities which will be outstanding if all the securities being offered or proposed to be offered, whether or not they are proposed to be registered or offered in this state, are issued; and (2) Any security, other than a certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, registered for nonissuer distribution if: (A) Any security of the same class has ever been registered under this chapter or a predecessor act; or (B) The security being registered was originally issued pursuant to an exemption under this chapter or a predecessor act. (b) A registration statement under this section shall contain the following information and be accompanied by the following documents in addition to the information specified in § 23-42-404(c) and the consent to service of process required by § 23-42-107(a) : (1) A statement demonstrating eligibility for registration by notification; (2) With respect to the issuer and any significant subsidiary: (A) Its name, address, and form of organization; (B) The state or foreign jurisdiction and the date of its organization; and (C) The general character and location of its business; (3) With respect to any person on whose behalf any part of the offering is to be made in a nonissuer distribution: (A) His or her name and address; (B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement; (4) A description of the security being registered; (5) The information and documents specified in § 23-42-403(b)(8), (b)(10), and (b)(12) ; and (6) In the case of any registration under subdivision (a)(2) of this section which does not also satisfy the conditions of subdivision (a)(1) of this section, a balance sheet of the issuer for the calendar year immediately prior to the filing of the registration statement and a summary of earnings for each of the two (2) fiscal years preceding the date of the balance sheet and for any period between the close of the last fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessors' existence if less than two (2) years. (c) If no stop order is in effect and no proceeding is pending under § 23-42-405 , a registration statement under this section automatically becomes effective at three o'clock (3:00) Central Standard Time in the afternoon of the second full business day after the filing of the registration statement or the last amendment, or at such earlier time as the Securities Commissioner determines. Acts 1959, No. 254, § 8; A.S.A. 1947, § 67-1242; Acts 1995, No. 845, § 20; 2011, No. 339, § 8.

(a) The following securities may be registered by notification, whether or not they are also eligible for registration by coordination under § 23-42-402 : (1) Any security whose issuer and any predecessors have been in continuous operation for at least five (5) years if: (A) There has been no default during the current fiscal year or within the three (3) preceding fiscal years in the payment of principal, interest, or dividends on any security of the issuer, or any predecessor, with a fixed maturity or a fixed interest or dividend provision; and (B) The issuer and any predecessors during the past three (3) fiscal years have had average net earnings, determined in accordance with generally accepted accounting practices, which: (i) Are applicable to all securities without a fixed maturity or a fixed interest or dividend provision outstanding at the date the registration statement is filed and are equal to at least three percent (3%) of the amount of the outstanding securities as measured by the maximum offering price or the market price on a day, selected by the registrant, within thirty (30) days before the date of filing the registration statement, whichever is higher, or book value on a day, selected by the registrant, within ninety (90) days of the date of filing the registration statement, to the extent that there is neither a readily determinable market price nor a cash offering price; or (ii) If the issuer and any predecessors have not had any security of the type specified in subdivision (a)(1)(B)(i) of this section outstanding for three (3) full fiscal years equal to at least five percent (5%) of the amount as measured in subdivision (a)(1)(B)(i) of this section of all securities which will be outstanding if all the securities being offered or proposed to be offered, whether or not they are proposed to be registered or offered in this state, are issued; and (2) Any security, other than a certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, registered for nonissuer distribution if: (A) Any security of the same class has ever been registered under this chapter or a predecessor act; or (B) The security being registered was originally issued pursuant to an exemption under this chapter or a predecessor act.

(1) Any security whose issuer and any predecessors have been in continuous operation for at least five (5) years if: (A) There has been no default during the current fiscal year or within the three (3) preceding fiscal years in the payment of principal, interest, or dividends on any security of the issuer, or any predecessor, with a fixed maturity or a fixed interest or dividend provision; and (B) The issuer and any predecessors during the past three (3) fiscal years have had average net earnings, determined in accordance with generally accepted accounting practices, which: (i) Are applicable to all securities without a fixed maturity or a fixed interest or dividend provision outstanding at the date the registration statement is filed and are equal to at least three percent (3%) of the amount of the outstanding securities as measured by the maximum offering price or the market price on a day, selected by the registrant, within thirty (30) days before the date of filing the registration statement, whichever is higher, or book value on a day, selected by the registrant, within ninety (90) days of the date of filing the registration statement, to the extent that there is neither a readily determinable market price nor a cash offering price; or (ii) If the issuer and any predecessors have not had any security of the type specified in subdivision (a)(1)(B)(i) of this section outstanding for three (3) full fiscal years equal to at least five percent (5%) of the amount as measured in subdivision (a)(1)(B)(i) of this section of all securities which will be outstanding if all the securities being offered or proposed to be offered, whether or not they are proposed to be registered or offered in this state, are issued; and

(A) There has been no default during the current fiscal year or within the three (3) preceding fiscal years in the payment of principal, interest, or dividends on any security of the issuer, or any predecessor, with a fixed maturity or a fixed interest or dividend provision; and

(B) The issuer and any predecessors during the past three (3) fiscal years have had average net earnings, determined in accordance with generally accepted accounting practices, which: (i) Are applicable to all securities without a fixed maturity or a fixed interest or dividend provision outstanding at the date the registration statement is filed and are equal to at least three percent (3%) of the amount of the outstanding securities as measured by the maximum offering price or the market price on a day, selected by the registrant, within thirty (30) days before the date of filing the registration statement, whichever is higher, or book value on a day, selected by the registrant, within ninety (90) days of the date of filing the registration statement, to the extent that there is neither a readily determinable market price nor a cash offering price; or (ii) If the issuer and any predecessors have not had any security of the type specified in subdivision (a)(1)(B)(i) of this section outstanding for three (3) full fiscal years equal to at least five percent (5%) of the amount as measured in subdivision (a)(1)(B)(i) of this section of all securities which will be outstanding if all the securities being offered or proposed to be offered, whether or not they are proposed to be registered or offered in this state, are issued; and

(i) Are applicable to all securities without a fixed maturity or a fixed interest or dividend provision outstanding at the date the registration statement is filed and are equal to at least three percent (3%) of the amount of the outstanding securities as measured by the maximum offering price or the market price on a day, selected by the registrant, within thirty (30) days before the date of filing the registration statement, whichever is higher, or book value on a day, selected by the registrant, within ninety (90) days of the date of filing the registration statement, to the extent that there is neither a readily determinable market price nor a cash offering price; or

(ii) If the issuer and any predecessors have not had any security of the type specified in subdivision (a)(1)(B)(i) of this section outstanding for three (3) full fiscal years equal to at least five percent (5%) of the amount as measured in subdivision (a)(1)(B)(i) of this section of all securities which will be outstanding if all the securities being offered or proposed to be offered, whether or not they are proposed to be registered or offered in this state, are issued; and

(2) Any security, other than a certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, registered for nonissuer distribution if: (A) Any security of the same class has ever been registered under this chapter or a predecessor act; or (B) The security being registered was originally issued pursuant to an exemption under this chapter or a predecessor act.

(A) Any security of the same class has ever been registered under this chapter or a predecessor act; or

(B) The security being registered was originally issued pursuant to an exemption under this chapter or a predecessor act.

(b) A registration statement under this section shall contain the following information and be accompanied by the following documents in addition to the information specified in § 23-42-404(c) and the consent to service of process required by § 23-42-107(a) : (1) A statement demonstrating eligibility for registration by notification; (2) With respect to the issuer and any significant subsidiary: (A) Its name, address, and form of organization; (B) The state or foreign jurisdiction and the date of its organization; and (C) The general character and location of its business; (3) With respect to any person on whose behalf any part of the offering is to be made in a nonissuer distribution: (A) His or her name and address; (B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement; (4) A description of the security being registered; (5) The information and documents specified in § 23-42-403(b)(8), (b)(10), and (b)(12) ; and (6) In the case of any registration under subdivision (a)(2) of this section which does not also satisfy the conditions of subdivision (a)(1) of this section, a balance sheet of the issuer for the calendar year immediately prior to the filing of the registration statement and a summary of earnings for each of the two (2) fiscal years preceding the date of the balance sheet and for any period between the close of the last fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessors' existence if less than two (2) years.

(1) A statement demonstrating eligibility for registration by notification;

(2) With respect to the issuer and any significant subsidiary: (A) Its name, address, and form of organization; (B) The state or foreign jurisdiction and the date of its organization; and (C) The general character and location of its business;

(A) Its name, address, and form of organization;

(B) The state or foreign jurisdiction and the date of its organization; and

(C) The general character and location of its business;

(3) With respect to any person on whose behalf any part of the offering is to be made in a nonissuer distribution: (A) His or her name and address; (B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement;

(A) His or her name and address;

(B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement;

(4) A description of the security being registered;

(5) The information and documents specified in § 23-42-403(b)(8), (b)(10), and (b)(12) ; and

(6) In the case of any registration under subdivision (a)(2) of this section which does not also satisfy the conditions of subdivision (a)(1) of this section, a balance sheet of the issuer for the calendar year immediately prior to the filing of the registration statement and a summary of earnings for each of the two (2) fiscal years preceding the date of the balance sheet and for any period between the close of the last fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessors' existence if less than two (2) years.

(c) If no stop order is in effect and no proceeding is pending under § 23-42-405 , a registration statement under this section automatically becomes effective at three o'clock (3:00) Central Standard Time in the afternoon of the second full business day after the filing of the registration statement or the last amendment, or at such earlier time as the Securities Commissioner determines.

Acts 1959, No. 254, § 8; A.S.A. 1947, § 67-1242; Acts 1995, No. 845, § 20; 2011, No. 339, § 8.
Ark. Code Ann. § 23-115-1006 — AR Code / Title 23 / Chapter 115 / Subchapter 10 / Section 23-115-1006
Applicability
Status: in_force

This subchapter only applies to prizes of more than five hundred dollars ($500). Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

This subchapter only applies to prizes of more than five hundred dollars ($500).

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-115-604 — AR Code / Title 23 / Chapter 115 / Subchapter 6 / Section 23-115-604
Cancellation, suspension, revocation, or termination of retailer license
Status: in_force

(a) A retailer license executed by the Office of the Arkansas Lottery under this chapter shall specify the reasons for which the retailer license may be canceled, suspended, revoked, or terminated by the office. The reasons shall include without limitation: (1) Commission of a violation of this chapter or a rule of the office; (2) Failure to accurately or timely account for tickets, lottery games, revenues, or prizes as required by the office; (3) Commission of any fraud, deceit, or misrepresentation; (4) Insufficient sales; (5) Conduct prejudicial to public confidence in a lottery; (6) The retailer's filing for or being placed in bankruptcy or receivership; (7) Any material change as determined in the sole discretion of the office in any matter considered by the office in granting the license of the retailer; or (8) Failure to meet any of the objective criteria established by the office under this chapter. (b) (1) If the Director of the Office of the Arkansas Lottery or his or her designee determines that cancellation, denial, revocation, suspension, or the failure to renew a retailer license is in the best interest of the Arkansas Scholarship Lottery, the public welfare, or the State of Arkansas, the director or his or her designee may: (A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a retailer license issued under this chapter; or (B) Fail to renew a retailer license issued under this chapter. (2) The retailer license may be temporarily suspended by the director or his or her designee without prior notice pending a hearing. (3) A retailer license may be suspended, revoked, or terminated by the director or his or her designee for any one (1) or more of the reasons enumerated in subsection (a) of this section. (4) Hearings under this subsection shall be held in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq. Amended by Act 2017, No. 334,§ 10, eff. 8/1/2017. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) A retailer license executed by the Office of the Arkansas Lottery under this chapter shall specify the reasons for which the retailer license may be canceled, suspended, revoked, or terminated by the office. The reasons shall include without limitation: (1) Commission of a violation of this chapter or a rule of the office; (2) Failure to accurately or timely account for tickets, lottery games, revenues, or prizes as required by the office; (3) Commission of any fraud, deceit, or misrepresentation; (4) Insufficient sales; (5) Conduct prejudicial to public confidence in a lottery; (6) The retailer's filing for or being placed in bankruptcy or receivership; (7) Any material change as determined in the sole discretion of the office in any matter considered by the office in granting the license of the retailer; or (8) Failure to meet any of the objective criteria established by the office under this chapter.

(1) Commission of a violation of this chapter or a rule of the office;

(2) Failure to accurately or timely account for tickets, lottery games, revenues, or prizes as required by the office;

(3) Commission of any fraud, deceit, or misrepresentation;

(4) Insufficient sales;

(5) Conduct prejudicial to public confidence in a lottery;

(6) The retailer's filing for or being placed in bankruptcy or receivership;

(7) Any material change as determined in the sole discretion of the office in any matter considered by the office in granting the license of the retailer; or

(8) Failure to meet any of the objective criteria established by the office under this chapter.

(b) (1) If the Director of the Office of the Arkansas Lottery or his or her designee determines that cancellation, denial, revocation, suspension, or the failure to renew a retailer license is in the best interest of the Arkansas Scholarship Lottery, the public welfare, or the State of Arkansas, the director or his or her designee may: (A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a retailer license issued under this chapter; or (B) Fail to renew a retailer license issued under this chapter. (2) The retailer license may be temporarily suspended by the director or his or her designee without prior notice pending a hearing. (3) A retailer license may be suspended, revoked, or terminated by the director or his or her designee for any one (1) or more of the reasons enumerated in subsection (a) of this section. (4) Hearings under this subsection shall be held in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

(1) If the Director of the Office of the Arkansas Lottery or his or her designee determines that cancellation, denial, revocation, suspension, or the failure to renew a retailer license is in the best interest of the Arkansas Scholarship Lottery, the public welfare, or the State of Arkansas, the director or his or her designee may: (A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a retailer license issued under this chapter; or (B) Fail to renew a retailer license issued under this chapter.

(A) Subject to notice and a right to a hearing, cancel, suspend, revoke, or terminate a retailer license issued under this chapter; or

(B) Fail to renew a retailer license issued under this chapter.

(2) The retailer license may be temporarily suspended by the director or his or her designee without prior notice pending a hearing.

(3) A retailer license may be suspended, revoked, or terminated by the director or his or her designee for any one (1) or more of the reasons enumerated in subsection (a) of this section.

(4) Hearings under this subsection shall be held in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

Amended by Act 2017, No. 334,§ 10, eff. 8/1/2017.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-13-214 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-214
Appeals - Transcripts
Status: in_force

(a) Where any appeal is taken, as provided in §§ 23-13-211 - 23-13-215 or by other statutes with regard to appeals from orders of the Arkansas Department of Transportation, the secretary of the department shall cause to be prepared, for use on the appeal, an accurate and true copy of the record of proceedings before the department, which shall contain only such portions of the record as shall be designated by the person taking such appeal in the notice of appeal filed. (b) Thereupon, the secretary of the department shall certify the transcript as a true and accurate copy of the record of proceedings on appeal from the department. (c) The transcript shall be prepared in conformity with the rules of the Supreme Court and of the Pulaski County Circuit Court regarding the filing of transcripts in civil cases, and the original record of proceedings before the department shall remain on file with the department. (d) When there are designated for inclusion in the transcript of the record exhibits which, because of their form, nature, or bulk, cannot be conveniently copied, then the department may order, upon proper application made by the party taking the appeal, that the original exhibits be appended to the secretary's transcript of the record. The exhibits may be removed from the offices of the department for the purpose of filing with the transcript on appeal. (e) (1) The party filing a motion for an appeal shall pay to the secretary of the department the amount of the cost of preparing the transcript of the proceedings before the transcript is deposited with the clerk of the Pulaski County Circuit Court. (2) All fees received by the department in payment for the preparation of transcripts of proceedings under this subchapter shall be computed at the rate of fifty cents (50¢) for each sheet and shall be paid into the State Treasury by the department to the account of the fund from which appropriations are made for the support of the department. Amended by Act 2017, No. 707,§ 191, eff. 8/1/2017. Acts 1955, No. 397, § 7; 1959, No. 267, § 1; A.S.A. 1947, § 73-1760.

(a) Where any appeal is taken, as provided in §§ 23-13-211 - 23-13-215 or by other statutes with regard to appeals from orders of the Arkansas Department of Transportation, the secretary of the department shall cause to be prepared, for use on the appeal, an accurate and true copy of the record of proceedings before the department, which shall contain only such portions of the record as shall be designated by the person taking such appeal in the notice of appeal filed.

(b) Thereupon, the secretary of the department shall certify the transcript as a true and accurate copy of the record of proceedings on appeal from the department.

(c) The transcript shall be prepared in conformity with the rules of the Supreme Court and of the Pulaski County Circuit Court regarding the filing of transcripts in civil cases, and the original record of proceedings before the department shall remain on file with the department.

(d) When there are designated for inclusion in the transcript of the record exhibits which, because of their form, nature, or bulk, cannot be conveniently copied, then the department may order, upon proper application made by the party taking the appeal, that the original exhibits be appended to the secretary's transcript of the record. The exhibits may be removed from the offices of the department for the purpose of filing with the transcript on appeal.

(e) (1) The party filing a motion for an appeal shall pay to the secretary of the department the amount of the cost of preparing the transcript of the proceedings before the transcript is deposited with the clerk of the Pulaski County Circuit Court. (2) All fees received by the department in payment for the preparation of transcripts of proceedings under this subchapter shall be computed at the rate of fifty cents (50¢) for each sheet and shall be paid into the State Treasury by the department to the account of the fund from which appropriations are made for the support of the department.

(1) The party filing a motion for an appeal shall pay to the secretary of the department the amount of the cost of preparing the transcript of the proceedings before the transcript is deposited with the clerk of the Pulaski County Circuit Court.

(2) All fees received by the department in payment for the preparation of transcripts of proceedings under this subchapter shall be computed at the rate of fifty cents (50¢) for each sheet and shall be paid into the State Treasury by the department to the account of the fund from which appropriations are made for the support of the department.

Amended by Act 2017, No. 707,§ 191, eff. 8/1/2017.

Acts 1955, No. 397, § 7; 1959, No. 267, § 1; A.S.A. 1947, § 73-1760.
Ark. Code Ann. § 23-89-308 — AR Code / Title 23 / Chapter 89 / Subchapter 3 / Section 23-89-308
Nonliability of commissioner and insurer
Status: in_force

There shall be no liability on the part of and no cause of action of any nature shall arise against the Insurance Commissioner or against any insurer, its authorized representative, its agents, its employees, or any firm, person, or corporation furnishing to the insurer information as to the grounds for cancellation or nonrenewal, for any statement made by any of them in any written notice of cancellation or nonrenewal, or in any other communication, oral or written, specifying the grounds for cancellation or nonrenewal, or the providing of information pertaining thereto, or for statements made or evidence submitted at any hearings conducted in connection therewith. Acts 1969, No. 333, § 7; A.S.A. 1947, § 66-4013.

There shall be no liability on the part of and no cause of action of any nature shall arise against the Insurance Commissioner or against any insurer, its authorized representative, its agents, its employees, or any firm, person, or corporation furnishing to the insurer information as to the grounds for cancellation or nonrenewal, for any statement made by any of them in any written notice of cancellation or nonrenewal, or in any other communication, oral or written, specifying the grounds for cancellation or nonrenewal, or the providing of information pertaining thereto, or for statements made or evidence submitted at any hearings conducted in connection therewith.

Acts 1969, No. 333, § 7; A.S.A. 1947, § 66-4013.
Ark. Code Ann. § 23-48-808 — AR Code / Title 23 / Chapter 48 / Subchapter 8 / Section 23-48-808
Privacy of account information
Status: in_force

A bank using customer-bank communication terminals shall establish and maintain reasonable safeguards designed to protect the privacy and confidentiality of account information. Acts 1997, No. 89, § 1.

A bank using customer-bank communication terminals shall establish and maintain reasonable safeguards designed to protect the privacy and confidentiality of account information.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-12-509 — AR Code / Title 23 / Chapter 12 / Subchapter 5 / Section 23-12-509
Limit on hours of service on freight trains of persons running trains - Penalties for noncompliance - Liability for death or injury
Status: in_force

(a) (1) Any company owning or operating a railroad over thirty (30) miles in length in whole or in part within this state shall not permit or require any conductor, engineer, fireman, brakeman, or any trainman on any train, who has worked in his or her respective capacity for sixteen (16) consecutive hours, to again be required to go on duty or perform any work until he or she has had at least eight (8) hours' rest, except in cases of wrecks or washout. (2) However, at the expiration of the sixteen (16) hours' continuous service, the engineer and trainmen on any train which is at a distance not exceeding twenty-five (25) miles from any division terminal or destination point shall be permitted, if they so elect, to run the train into the division terminal or destination point. The additional service permitted under this subdivision (a)(2) shall not be so construed as to relieve any railroad corporation from liabilities incurred under subsection (c) of this section. (b) Any railroad company or corporation knowingly violating any of the provisions of this section shall be liable to a penalty of not less than one hundred dollars ($100) nor more than two hundred dollars ($200) for the first offense. For any subsequent offense, it shall be liable for a penalty of not less than two hundred dollars ($200) nor more than three hundred dollars ($300). The monetary penalty shall be recovered in a civil action in the name of the state. (c) In addition to the penalty prescribed in subsection (b) of this section, any corporation violating the provisions of this section shall not be permitted to interpose the defense of contributory negligence in the event of action being brought to recover for damages resulting from any accident which shall occur and by which injury shall be inflicted on any employee who may be detained in service more than sixteen (16) hours, notwithstanding that the negligence of the injured employee may have caused his or her own injury. Nor shall the defense of contributory negligence be interposed if the injury resulted in the death of the employee and the action is brought for the benefit of his or her next of kin. (d) The provisions of this section shall not apply to passenger trains. Acts 1903, No. 144, §§ 1-3, p. 245; C. & M. Dig., §§ 7077-7079; Pope's Dig., §§ 9059-9061; A.S.A. 1947, § 73-905 -- 73-907.

(a) (1) Any company owning or operating a railroad over thirty (30) miles in length in whole or in part within this state shall not permit or require any conductor, engineer, fireman, brakeman, or any trainman on any train, who has worked in his or her respective capacity for sixteen (16) consecutive hours, to again be required to go on duty or perform any work until he or she has had at least eight (8) hours' rest, except in cases of wrecks or washout. (2) However, at the expiration of the sixteen (16) hours' continuous service, the engineer and trainmen on any train which is at a distance not exceeding twenty-five (25) miles from any division terminal or destination point shall be permitted, if they so elect, to run the train into the division terminal or destination point. The additional service permitted under this subdivision (a)(2) shall not be so construed as to relieve any railroad corporation from liabilities incurred under subsection (c) of this section.

(1) Any company owning or operating a railroad over thirty (30) miles in length in whole or in part within this state shall not permit or require any conductor, engineer, fireman, brakeman, or any trainman on any train, who has worked in his or her respective capacity for sixteen (16) consecutive hours, to again be required to go on duty or perform any work until he or she has had at least eight (8) hours' rest, except in cases of wrecks or washout.

(2) However, at the expiration of the sixteen (16) hours' continuous service, the engineer and trainmen on any train which is at a distance not exceeding twenty-five (25) miles from any division terminal or destination point shall be permitted, if they so elect, to run the train into the division terminal or destination point. The additional service permitted under this subdivision (a)(2) shall not be so construed as to relieve any railroad corporation from liabilities incurred under subsection (c) of this section.

(b) Any railroad company or corporation knowingly violating any of the provisions of this section shall be liable to a penalty of not less than one hundred dollars ($100) nor more than two hundred dollars ($200) for the first offense. For any subsequent offense, it shall be liable for a penalty of not less than two hundred dollars ($200) nor more than three hundred dollars ($300). The monetary penalty shall be recovered in a civil action in the name of the state.

(c) In addition to the penalty prescribed in subsection (b) of this section, any corporation violating the provisions of this section shall not be permitted to interpose the defense of contributory negligence in the event of action being brought to recover for damages resulting from any accident which shall occur and by which injury shall be inflicted on any employee who may be detained in service more than sixteen (16) hours, notwithstanding that the negligence of the injured employee may have caused his or her own injury. Nor shall the defense of contributory negligence be interposed if the injury resulted in the death of the employee and the action is brought for the benefit of his or her next of kin.

(d) The provisions of this section shall not apply to passenger trains.

Acts 1903, No. 144, §§ 1-3, p. 245; C. & M. Dig., §§ 7077-7079; Pope's Dig., §§ 9059-9061; A.S.A. 1947, § 73-905 -- 73-907.