Ark. Code Ann. § 23-112-304 — AR Code / Title 23 / Chapter 112 / Subchapter 3 / Section 23-112-304
Issuance of license - Change of location - Change of business or corporate name, structure, or DBA name - Dealers, manufacturers, distributors, etc
Status: in_force

(a) The license issued to each motor vehicle dealer, manufacturer, distributor, factory branch or division, or distributor branch or division shall specify the location of the factory, office, branch, or division thereof. (b) In case the location is changed, the Arkansas Motor Vehicle Commission shall endorse the change of location on the license without charge if it is within the same county. (c) A change of location to another county shall require a new license. (d) Licensees shall notify the commission in writing of any change in the business or corporate name or structure and of any alternate name or names in which the company will do business, "DBA names", and shall provide the original issue license with the notification of name change or addition of DBA name or names. The commission shall endorse the change on the license without charge. Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947, § 75-2305; Acts 1995, No. 568, § 7; 1997, No. 1154, § 10; 2001, No. 1053, § 5.

(a) The license issued to each motor vehicle dealer, manufacturer, distributor, factory branch or division, or distributor branch or division shall specify the location of the factory, office, branch, or division thereof.

(b) In case the location is changed, the Arkansas Motor Vehicle Commission shall endorse the change of location on the license without charge if it is within the same county.

(c) A change of location to another county shall require a new license.

(d) Licensees shall notify the commission in writing of any change in the business or corporate name or structure and of any alternate name or names in which the company will do business, "DBA names", and shall provide the original issue license with the notification of name change or addition of DBA name or names. The commission shall endorse the change on the license without charge.

Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947, § 75-2305; Acts 1995, No. 568, § 7; 1997, No. 1154, § 10; 2001, No. 1053, § 5.
Ark. Code Ann. § 23-114-505 — AR Code / Title 23 / Chapter 114 / Subchapter 5 / Section 23-114-505
Use of proceeds by a licensed authorized organization
Status: in_force

A licensed authorized organization shall not use the net proceeds from games of bingo or raffles directly or indirectly to: (1) Support or oppose a candidate or slate of candidates for public office; (2) Support or oppose a measure submitted to a vote of the people; or (3) Influence or attempt to influence legislation. Acts 2007, No. 388, § 1.

A licensed authorized organization shall not use the net proceeds from games of bingo or raffles directly or indirectly to:

(1) Support or oppose a candidate or slate of candidates for public office;

(2) Support or oppose a measure submitted to a vote of the people; or

(3) Influence or attempt to influence legislation.

Acts 2007, No. 388, § 1.
Ark. Code Ann. § 23-64-510 — AR Code / Title 23 / Chapter 64 / Subchapter 5 / Section 23-64-510
Assumed names
Status: in_force

An insurance producer doing business under any name other than the producer's legal name is required to notify the Insurance Commissioner prior to using the assumed name. Acts 2001, No. 580, § 1.

An insurance producer doing business under any name other than the producer's legal name is required to notify the Insurance Commissioner prior to using the assumed name.

Acts 2001, No. 580, § 1.
Ark. Code Ann. § 23-89-501 — AR Code / Title 23 / Chapter 89 / Subchapter 5 / Section 23-89-501
Title
Status: in_force

This subchapter shall be known and may be cited as the "Amusement Ride and Amusement Attraction Safety Insurance Act". Acts 1983, No. 837, § 1; A.S.A. 1947, § 66-5901.

This subchapter shall be known and may be cited as the "Amusement Ride and Amusement Attraction Safety Insurance Act".

Acts 1983, No. 837, § 1; A.S.A. 1947, § 66-5901.
Ark. Code Ann. § 23-90-103 — AR Code / Title 23 / Chapter 90 / Section 23-90-103
Definitions
Status: in_force

As used in this chapter: (1) "Commissioner" means the Insurance Commissioner; (2) (A) (i) "Covered claim" means an unpaid claim of an insured or third-party liability claimant which arises out of and is within the coverage and not in excess of the applicable limits of an insurance policy to which this chapter applies, and which is issued or assumed, whereby an assumption certificate is issued to the insured, by an insurer licensed to do business in this state, in cases in which the insurer becomes an insolvent insurer and the third-party claimant or liability claimant or insured is a resident of this state at the time of the insured event, or the property from which the claim arises is permanently located in this state. (ii) Covered claims shall also include one hundred percent (100%) of unearned premiums up to an amount not exceeding twenty-five thousand dollars ($25,000) per policy. (iii) Individual covered claims, excluding workers' compensation claims, shall be limited to three hundred thousand dollars ($300,000) and shall not include any amount in excess of three hundred thousand dollars ($300,000). (B) A covered claim shall not include an unpaid claim of an insured or third-party liability claimant whose net worth as of December 31 of the year next preceding the date the insurer becomes an insolvent insurer exceeds fifty million dollars ($50,000,000). However, an insured's or third-party liability claimant's net worth on that date shall be deemed to include the aggregate net worth of the insured or third-party liability claimant and all of its affiliates as calculated on a consolidated basis. (C) A covered claim shall not include any of the following amounts: (i) Any amount awarded as punitive or exemplary damages; (ii) Any amount sought as return of premium under any retrospective rating plan; or (iii) Any amount due to any reinsurer, insurer, insurance pool, or underwriting association as subrogation recoveries or otherwise. This subdivision (2) shall not prevent the reinsurer, insurer, insurance pool, or underwriting association from presenting the excluded claim to the insolvent insurer or the liquidator, but the claim shall not be asserted against any other person, including the person to whom benefits were paid or the insured of the insolvent insurer, except to the extent that the claim is outside the coverage provided herein or is in excess of the limits of the policy issued by the insolvent insurer. (D) (i) A covered claim shall not include supplementary payment obligations, including, but not limited to, adjustment fees and expenses, attorney's fees and expenses, court costs, interest, and bond premiums incurred prior to the determination that an insurer is an insolvent insurer under this chapter. (ii) With respect to a covered claim for unearned premiums, persons who were residents of this state at the time the policy was issued and persons who are residents of this state at the time the company is found to be an insolvent insurer shall be considered to have covered claims under this chapter; (3) "Insolvent insurer" means an insurer which, after March 30, 1977, is determined to be insolvent by a court of competent jurisdiction; (4) (A) "Insurer" means any person who writes any kind of insurance to which this chapter applies under § 23-90-104 , including the exchange of reciprocal or inter-insurance contracts, and is licensed to transact insurance in this state. (B) However, this chapter shall not apply to those persons transacting business as a farmers' mutual aid association pursuant to §§ 23-73-101 - 23-73-107 , 23-73-110 - 23-73-114 , and 23-73-116 ; (5) (A) "Net direct written premiums" means the gross amount of premiums received from policies of insurance issued in this state to which this chapter applies, less return premiums and dividends paid or credited to policyholders. (B) "Net direct written premiums" does not include premiums for indemnity reinsurance accepted from other licensed insurers, and there shall be no deductions for premiums for indemnity reinsurance ceded to other insurers; (6) "Payment of covered claims" means actual payment and also means utilization of funds derived from assessments for consummation of contracts of reinsurance or assumption of liabilities or contracts of substitution to provide for liabilities for covered claims; and (7) "Person" means any individual, corporation, partnership, association, or voluntary organization. Amended by Act 2017, No. 283,§ 18, eff. 8/1/2017. Acts 1977, No. 871, § 5; A.S.A. 1947, § 66-5505; Acts 1987, No. 738, § 2; 1993, No. 901, § 45; 1995, No. 1272, § 25; 1999, No. 881, § 15.

As used in this chapter:

(1) "Commissioner" means the Insurance Commissioner;

(2) (A) (i) "Covered claim" means an unpaid claim of an insured or third-party liability claimant which arises out of and is within the coverage and not in excess of the applicable limits of an insurance policy to which this chapter applies, and which is issued or assumed, whereby an assumption certificate is issued to the insured, by an insurer licensed to do business in this state, in cases in which the insurer becomes an insolvent insurer and the third-party claimant or liability claimant or insured is a resident of this state at the time of the insured event, or the property from which the claim arises is permanently located in this state. (ii) Covered claims shall also include one hundred percent (100%) of unearned premiums up to an amount not exceeding twenty-five thousand dollars ($25,000) per policy. (iii) Individual covered claims, excluding workers' compensation claims, shall be limited to three hundred thousand dollars ($300,000) and shall not include any amount in excess of three hundred thousand dollars ($300,000). (B) A covered claim shall not include an unpaid claim of an insured or third-party liability claimant whose net worth as of December 31 of the year next preceding the date the insurer becomes an insolvent insurer exceeds fifty million dollars ($50,000,000). However, an insured's or third-party liability claimant's net worth on that date shall be deemed to include the aggregate net worth of the insured or third-party liability claimant and all of its affiliates as calculated on a consolidated basis. (C) A covered claim shall not include any of the following amounts: (i) Any amount awarded as punitive or exemplary damages; (ii) Any amount sought as return of premium under any retrospective rating plan; or (iii) Any amount due to any reinsurer, insurer, insurance pool, or underwriting association as subrogation recoveries or otherwise. This subdivision (2) shall not prevent the reinsurer, insurer, insurance pool, or underwriting association from presenting the excluded claim to the insolvent insurer or the liquidator, but the claim shall not be asserted against any other person, including the person to whom benefits were paid or the insured of the insolvent insurer, except to the extent that the claim is outside the coverage provided herein or is in excess of the limits of the policy issued by the insolvent insurer. (D) (i) A covered claim shall not include supplementary payment obligations, including, but not limited to, adjustment fees and expenses, attorney's fees and expenses, court costs, interest, and bond premiums incurred prior to the determination that an insurer is an insolvent insurer under this chapter. (ii) With respect to a covered claim for unearned premiums, persons who were residents of this state at the time the policy was issued and persons who are residents of this state at the time the company is found to be an insolvent insurer shall be considered to have covered claims under this chapter;

(A) (i) "Covered claim" means an unpaid claim of an insured or third-party liability claimant which arises out of and is within the coverage and not in excess of the applicable limits of an insurance policy to which this chapter applies, and which is issued or assumed, whereby an assumption certificate is issued to the insured, by an insurer licensed to do business in this state, in cases in which the insurer becomes an insolvent insurer and the third-party claimant or liability claimant or insured is a resident of this state at the time of the insured event, or the property from which the claim arises is permanently located in this state. (ii) Covered claims shall also include one hundred percent (100%) of unearned premiums up to an amount not exceeding twenty-five thousand dollars ($25,000) per policy. (iii) Individual covered claims, excluding workers' compensation claims, shall be limited to three hundred thousand dollars ($300,000) and shall not include any amount in excess of three hundred thousand dollars ($300,000).

(i) "Covered claim" means an unpaid claim of an insured or third-party liability claimant which arises out of and is within the coverage and not in excess of the applicable limits of an insurance policy to which this chapter applies, and which is issued or assumed, whereby an assumption certificate is issued to the insured, by an insurer licensed to do business in this state, in cases in which the insurer becomes an insolvent insurer and the third-party claimant or liability claimant or insured is a resident of this state at the time of the insured event, or the property from which the claim arises is permanently located in this state.

(ii) Covered claims shall also include one hundred percent (100%) of unearned premiums up to an amount not exceeding twenty-five thousand dollars ($25,000) per policy.

(iii) Individual covered claims, excluding workers' compensation claims, shall be limited to three hundred thousand dollars ($300,000) and shall not include any amount in excess of three hundred thousand dollars ($300,000).

(B) A covered claim shall not include an unpaid claim of an insured or third-party liability claimant whose net worth as of December 31 of the year next preceding the date the insurer becomes an insolvent insurer exceeds fifty million dollars ($50,000,000). However, an insured's or third-party liability claimant's net worth on that date shall be deemed to include the aggregate net worth of the insured or third-party liability claimant and all of its affiliates as calculated on a consolidated basis.

(C) A covered claim shall not include any of the following amounts: (i) Any amount awarded as punitive or exemplary damages; (ii) Any amount sought as return of premium under any retrospective rating plan; or (iii) Any amount due to any reinsurer, insurer, insurance pool, or underwriting association as subrogation recoveries or otherwise. This subdivision (2) shall not prevent the reinsurer, insurer, insurance pool, or underwriting association from presenting the excluded claim to the insolvent insurer or the liquidator, but the claim shall not be asserted against any other person, including the person to whom benefits were paid or the insured of the insolvent insurer, except to the extent that the claim is outside the coverage provided herein or is in excess of the limits of the policy issued by the insolvent insurer.

(i) Any amount awarded as punitive or exemplary damages;

(ii) Any amount sought as return of premium under any retrospective rating plan; or

(iii) Any amount due to any reinsurer, insurer, insurance pool, or underwriting association as subrogation recoveries or otherwise. This subdivision (2) shall not prevent the reinsurer, insurer, insurance pool, or underwriting association from presenting the excluded claim to the insolvent insurer or the liquidator, but the claim shall not be asserted against any other person, including the person to whom benefits were paid or the insured of the insolvent insurer, except to the extent that the claim is outside the coverage provided herein or is in excess of the limits of the policy issued by the insolvent insurer.

(D) (i) A covered claim shall not include supplementary payment obligations, including, but not limited to, adjustment fees and expenses, attorney's fees and expenses, court costs, interest, and bond premiums incurred prior to the determination that an insurer is an insolvent insurer under this chapter. (ii) With respect to a covered claim for unearned premiums, persons who were residents of this state at the time the policy was issued and persons who are residents of this state at the time the company is found to be an insolvent insurer shall be considered to have covered claims under this chapter;

(i) A covered claim shall not include supplementary payment obligations, including, but not limited to, adjustment fees and expenses, attorney's fees and expenses, court costs, interest, and bond premiums incurred prior to the determination that an insurer is an insolvent insurer under this chapter.

(ii) With respect to a covered claim for unearned premiums, persons who were residents of this state at the time the policy was issued and persons who are residents of this state at the time the company is found to be an insolvent insurer shall be considered to have covered claims under this chapter;

(3) "Insolvent insurer" means an insurer which, after March 30, 1977, is determined to be insolvent by a court of competent jurisdiction;

(4) (A) "Insurer" means any person who writes any kind of insurance to which this chapter applies under § 23-90-104 , including the exchange of reciprocal or inter-insurance contracts, and is licensed to transact insurance in this state. (B) However, this chapter shall not apply to those persons transacting business as a farmers' mutual aid association pursuant to §§ 23-73-101 - 23-73-107 , 23-73-110 - 23-73-114 , and 23-73-116 ;

(A) "Insurer" means any person who writes any kind of insurance to which this chapter applies under § 23-90-104 , including the exchange of reciprocal or inter-insurance contracts, and is licensed to transact insurance in this state.

(B) However, this chapter shall not apply to those persons transacting business as a farmers' mutual aid association pursuant to §§ 23-73-101 - 23-73-107 , 23-73-110 - 23-73-114 , and 23-73-116 ;

(5) (A) "Net direct written premiums" means the gross amount of premiums received from policies of insurance issued in this state to which this chapter applies, less return premiums and dividends paid or credited to policyholders. (B) "Net direct written premiums" does not include premiums for indemnity reinsurance accepted from other licensed insurers, and there shall be no deductions for premiums for indemnity reinsurance ceded to other insurers;

(A) "Net direct written premiums" means the gross amount of premiums received from policies of insurance issued in this state to which this chapter applies, less return premiums and dividends paid or credited to policyholders.

(B) "Net direct written premiums" does not include premiums for indemnity reinsurance accepted from other licensed insurers, and there shall be no deductions for premiums for indemnity reinsurance ceded to other insurers;

(6) "Payment of covered claims" means actual payment and also means utilization of funds derived from assessments for consummation of contracts of reinsurance or assumption of liabilities or contracts of substitution to provide for liabilities for covered claims; and

(7) "Person" means any individual, corporation, partnership, association, or voluntary organization.

Amended by Act 2017, No. 283,§ 18, eff. 8/1/2017.

Acts 1977, No. 871, § 5; A.S.A. 1947, § 66-5505; Acts 1987, No. 738, § 2; 1993, No. 901, § 45; 1995, No. 1272, § 25; 1999, No. 881, § 15.
Ark. Code Ann. § 23-63-1707 — AR Code / Title 23 / Chapter 63 / Subchapter 17 / Section 23-63-1707
Conservation, rehabilitation, or liquidation of protected cell companies
Status: in_force

(a) Notwithstanding any provision of the Arkansas Insurance Code or any rule promulgated under the Arkansas Insurance Code or any other applicable law or rule, upon any order of conservation, rehabilitation, or liquidation of a protected cell company, the receiver shall be bound to deal with the protected cell company's assets and liabilities, including protected cell assets and protected cell liabilities, in conformance with this subchapter. (b) With respect to amounts recoverable under a protected cell company insurance securitization, the amount recoverable by the receiver shall not be reduced or diminished as a result of the entry of an order of conservation, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding any provision in the contracts or other documentation governing the protected cell company insurance securitization. Amended by Act 2019, No. 315,§ 2644, eff. 7/24/2019. Acts 2001, No. 1428, § 7.

(a) Notwithstanding any provision of the Arkansas Insurance Code or any rule promulgated under the Arkansas Insurance Code or any other applicable law or rule, upon any order of conservation, rehabilitation, or liquidation of a protected cell company, the receiver shall be bound to deal with the protected cell company's assets and liabilities, including protected cell assets and protected cell liabilities, in conformance with this subchapter.

(b) With respect to amounts recoverable under a protected cell company insurance securitization, the amount recoverable by the receiver shall not be reduced or diminished as a result of the entry of an order of conservation, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding any provision in the contracts or other documentation governing the protected cell company insurance securitization.

Amended by Act 2019, No. 315,§ 2644, eff. 7/24/2019.

Acts 2001, No. 1428, § 7.
Ark. Code Ann. § 23-62-406 — AR Code / Title 23 / Chapter 62 / Subchapter 4 / Section 23-62-406
Books and records - Reinsurance intermediary brokers
Status: in_force

(a) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker will keep a complete record for each transaction showing: (1) The type of contract, limits, underwriting restrictions, classes or risks, and territory; (2) The period of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation; (3) The reporting and settlement requirements of balances; (4) The rate used to compute the reinsurance premium; (5) The names and addresses of assuming reinsurers; (6) The rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary broker; (7) Related correspondence and memoranda; (8) Proof of placement; (9) Details regarding retrocessions handled by the reinsurance intermediary broker, including the identity of retrocessionaires and the percentage of each contract assumed or ceded; (10) Financial records, including, but not limited to, premium and loss accounts; and (11) When the reinsurance intermediary broker procures a reinsurance contract on behalf of a licensed ceding insurer: (A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or (B) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative. (b) The insurer will have access to and the right to copy and audit all accounts and records maintained by the reinsurance intermediary broker related to its business in a form usable by the insurer. Acts 1993, No. 527, § 1.

(a) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker will keep a complete record for each transaction showing: (1) The type of contract, limits, underwriting restrictions, classes or risks, and territory; (2) The period of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation; (3) The reporting and settlement requirements of balances; (4) The rate used to compute the reinsurance premium; (5) The names and addresses of assuming reinsurers; (6) The rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary broker; (7) Related correspondence and memoranda; (8) Proof of placement; (9) Details regarding retrocessions handled by the reinsurance intermediary broker, including the identity of retrocessionaires and the percentage of each contract assumed or ceded; (10) Financial records, including, but not limited to, premium and loss accounts; and (11) When the reinsurance intermediary broker procures a reinsurance contract on behalf of a licensed ceding insurer: (A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or (B) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.

(1) The type of contract, limits, underwriting restrictions, classes or risks, and territory;

(2) The period of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation;

(3) The reporting and settlement requirements of balances;

(4) The rate used to compute the reinsurance premium;

(5) The names and addresses of assuming reinsurers;

(6) The rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary broker;

(7) Related correspondence and memoranda;

(8) Proof of placement;

(9) Details regarding retrocessions handled by the reinsurance intermediary broker, including the identity of retrocessionaires and the percentage of each contract assumed or ceded;

(10) Financial records, including, but not limited to, premium and loss accounts; and

(11) When the reinsurance intermediary broker procures a reinsurance contract on behalf of a licensed ceding insurer: (A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or (B) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.

(A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or

(B) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.

(b) The insurer will have access to and the right to copy and audit all accounts and records maintained by the reinsurance intermediary broker related to its business in a form usable by the insurer.

Acts 1993, No. 527, § 1.
Ark. Code Ann. § 23-46-304 — AR Code / Title 23 / Chapter 46 / Subchapter 3 / Section 23-46-304
Powers of State Banking Board - Filings with Bank Commissioner
Status: in_force

(a) In addition to all other powers conferred by Arkansas law, the State Banking Board shall have the power and duty to: (1) Approve or disapprove all applications for charters for new state banks, except applications for new state bank charters in connection with failed institutions as provided in § 23-48-511 ; (2) Approve or disapprove all applications for the merger or consolidation of one (1) or more banks, out-of-state banks, or savings and loan associations into a state bank; (3) Approve or disapprove all applications for the purchase by one (1) state bank of over fifty percent (50%) of the assets of another depository institution, and all applications for the assumption by one (1) state bank of over fifty percent (50%) of the liabilities of another depository institution; (4) Approve or disapprove all applications by a savings and loan association to convert to a state bank; (5) Approve or disapprove all applications for amendments to the articles of incorporation of an existing state bank; (6) Approve or disapprove all applications for the relocation of a state bank's main office from one (1) municipality to another; (7) Approve or disapprove all rules promulgated by the Bank Commissioner; (8) Authorize a state bank under circumstances in which it is not given authority under state law to participate in any public agency hereinafter created under the laws of this state or of the United States, the purpose of which is to afford advantages or safeguards to banks or trust companies, and to authorize compliance with all requirements and conditions imposed upon the participants; (9) Subpoena witnesses; and (10) Require such clerical and technical assistance as is necessary or appropriate to carry out its duties. (b) Upon the submission to it by the commissioner of each application, the board shall review the results of the commissioner's investigation and make further investigation, if any, that it may deem appropriate to enable it to determine the fitness of the applicants, the need from the public standpoint for the granting of the application, and all other questions, whether or not of like kind with those referred to in this section, which bear directly or indirectly upon the need or desirability from the public standpoint for the granting of the application. (c) (1) Filing with the commissioner of any application or document required by the Arkansas Banking Code of 1997 or by State Bank Department rules shall be public notice of the matters contained in that application or document. (2) The commissioner shall maintain the applications or documents in his or her custody. (3) Upon request, the commissioner shall provide verification of the filing and reasonable access to inspection by the public. (4) Nothing in this section shall be construed to modify the prohibitions upon the disclosure of confidential information contained in § 23-46-101 or the commissioner's authority to issue rules concerning the disclosure of confidential information. Amended by Act 2019, No. 315,§ 2526, eff. 7/24/2019. Acts 1997, No. 89, § 1; 1997, No. 408, § 4.

(a) In addition to all other powers conferred by Arkansas law, the State Banking Board shall have the power and duty to: (1) Approve or disapprove all applications for charters for new state banks, except applications for new state bank charters in connection with failed institutions as provided in § 23-48-511 ; (2) Approve or disapprove all applications for the merger or consolidation of one (1) or more banks, out-of-state banks, or savings and loan associations into a state bank; (3) Approve or disapprove all applications for the purchase by one (1) state bank of over fifty percent (50%) of the assets of another depository institution, and all applications for the assumption by one (1) state bank of over fifty percent (50%) of the liabilities of another depository institution; (4) Approve or disapprove all applications by a savings and loan association to convert to a state bank; (5) Approve or disapprove all applications for amendments to the articles of incorporation of an existing state bank; (6) Approve or disapprove all applications for the relocation of a state bank's main office from one (1) municipality to another; (7) Approve or disapprove all rules promulgated by the Bank Commissioner; (8) Authorize a state bank under circumstances in which it is not given authority under state law to participate in any public agency hereinafter created under the laws of this state or of the United States, the purpose of which is to afford advantages or safeguards to banks or trust companies, and to authorize compliance with all requirements and conditions imposed upon the participants; (9) Subpoena witnesses; and (10) Require such clerical and technical assistance as is necessary or appropriate to carry out its duties.

(1) Approve or disapprove all applications for charters for new state banks, except applications for new state bank charters in connection with failed institutions as provided in § 23-48-511 ;

(2) Approve or disapprove all applications for the merger or consolidation of one (1) or more banks, out-of-state banks, or savings and loan associations into a state bank;

(3) Approve or disapprove all applications for the purchase by one (1) state bank of over fifty percent (50%) of the assets of another depository institution, and all applications for the assumption by one (1) state bank of over fifty percent (50%) of the liabilities of another depository institution;

(4) Approve or disapprove all applications by a savings and loan association to convert to a state bank;

(5) Approve or disapprove all applications for amendments to the articles of incorporation of an existing state bank;

(6) Approve or disapprove all applications for the relocation of a state bank's main office from one (1) municipality to another;

(7) Approve or disapprove all rules promulgated by the Bank Commissioner;

(8) Authorize a state bank under circumstances in which it is not given authority under state law to participate in any public agency hereinafter created under the laws of this state or of the United States, the purpose of which is to afford advantages or safeguards to banks or trust companies, and to authorize compliance with all requirements and conditions imposed upon the participants;

(9) Subpoena witnesses; and

(10) Require such clerical and technical assistance as is necessary or appropriate to carry out its duties.

(b) Upon the submission to it by the commissioner of each application, the board shall review the results of the commissioner's investigation and make further investigation, if any, that it may deem appropriate to enable it to determine the fitness of the applicants, the need from the public standpoint for the granting of the application, and all other questions, whether or not of like kind with those referred to in this section, which bear directly or indirectly upon the need or desirability from the public standpoint for the granting of the application.

(c) (1) Filing with the commissioner of any application or document required by the Arkansas Banking Code of 1997 or by State Bank Department rules shall be public notice of the matters contained in that application or document. (2) The commissioner shall maintain the applications or documents in his or her custody. (3) Upon request, the commissioner shall provide verification of the filing and reasonable access to inspection by the public. (4) Nothing in this section shall be construed to modify the prohibitions upon the disclosure of confidential information contained in § 23-46-101 or the commissioner's authority to issue rules concerning the disclosure of confidential information.

(1) Filing with the commissioner of any application or document required by the Arkansas Banking Code of 1997 or by State Bank Department rules shall be public notice of the matters contained in that application or document.

(2) The commissioner shall maintain the applications or documents in his or her custody.

(3) Upon request, the commissioner shall provide verification of the filing and reasonable access to inspection by the public.

(4) Nothing in this section shall be construed to modify the prohibitions upon the disclosure of confidential information contained in § 23-46-101 or the commissioner's authority to issue rules concerning the disclosure of confidential information.

Amended by Act 2019, No. 315,§ 2526, eff. 7/24/2019.

Acts 1997, No. 89, § 1; 1997, No. 408, § 4.
Ark. Code Ann. § 23-46-303 — AR Code / Title 23 / Chapter 46 / Subchapter 3 / Section 23-46-303
Study of banking statutes
Status: in_force

The State Banking Board is authorized, at such times as it deems appropriate, to request a review or study of state banking law and to recommend any changes that it may deem appropriate to the Secretary of the Department of Commerce. Amended by Act 2019, No. 910,§ 587, eff. 7/1/2019. Acts 1997, No. 89, § 1.

The State Banking Board is authorized, at such times as it deems appropriate, to request a review or study of state banking law and to recommend any changes that it may deem appropriate to the Secretary of the Department of Commerce.

Amended by Act 2019, No. 910,§ 587, eff. 7/1/2019.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-66-505 — AR Code / Title 23 / Chapter 66 / Subchapter 5 / Section 23-66-505
Mandatory reporting of fraudulent insurance acts
Status: in_force

(a) A person engaged in the business of insurance having knowledge or a reasonable belief that a fraudulent insurance act is being, will be, or has been committed shall provide to the Insurance Commissioner the information required by, and in a manner prescribed by, the commissioner. (b) Any person engaged in the business of insurance who knowingly fails to report as required by subsection (a) of this section shall be guilty of a Class A misdemeanor. (c) Any other person having knowledge or a reasonable belief that a fraudulent insurance act is being, will be, or has been committed may provide to the commissioner the information required by, and in a manner prescribed by, the commissioner. (d) (1) Upon the request of the commissioner or the commissioner's employees, examiners, investigators, agents, or representatives, a person engaged in the business of insurance shall provide to the commissioner all information the commissioner deems relevant pertaining to any investigation of a fraudulent act or related criminal violation. (2) The refusal of a person to fully comply with the commissioner's request for information is grounds for the suspension, revocation, denial, or nonrenewal of any license or authority held by the person to engage in an insurance or other business subject to the commissioner's jurisdiction. (3) A proceeding for the suspension, revocation, denial, or nonrenewal of any license or authority shall be conducted pursuant to §§ 23-63-213 and 23-64-512 . Amended by Act 2017, No. 283,§ 14, eff. 8/1/2017. Acts 1997, No. 217, § 1; 2005, No. 1697, § 14; 2005, No. 1994, § 230.

(a) A person engaged in the business of insurance having knowledge or a reasonable belief that a fraudulent insurance act is being, will be, or has been committed shall provide to the Insurance Commissioner the information required by, and in a manner prescribed by, the commissioner.

(b) Any person engaged in the business of insurance who knowingly fails to report as required by subsection (a) of this section shall be guilty of a Class A misdemeanor.

(c) Any other person having knowledge or a reasonable belief that a fraudulent insurance act is being, will be, or has been committed may provide to the commissioner the information required by, and in a manner prescribed by, the commissioner.

(d) (1) Upon the request of the commissioner or the commissioner's employees, examiners, investigators, agents, or representatives, a person engaged in the business of insurance shall provide to the commissioner all information the commissioner deems relevant pertaining to any investigation of a fraudulent act or related criminal violation. (2) The refusal of a person to fully comply with the commissioner's request for information is grounds for the suspension, revocation, denial, or nonrenewal of any license or authority held by the person to engage in an insurance or other business subject to the commissioner's jurisdiction. (3) A proceeding for the suspension, revocation, denial, or nonrenewal of any license or authority shall be conducted pursuant to §§ 23-63-213 and 23-64-512 .

(1) Upon the request of the commissioner or the commissioner's employees, examiners, investigators, agents, or representatives, a person engaged in the business of insurance shall provide to the commissioner all information the commissioner deems relevant pertaining to any investigation of a fraudulent act or related criminal violation.

(2) The refusal of a person to fully comply with the commissioner's request for information is grounds for the suspension, revocation, denial, or nonrenewal of any license or authority held by the person to engage in an insurance or other business subject to the commissioner's jurisdiction.

(3) A proceeding for the suspension, revocation, denial, or nonrenewal of any license or authority shall be conducted pursuant to §§ 23-63-213 and 23-64-512 .

Amended by Act 2017, No. 283,§ 14, eff. 8/1/2017.

Acts 1997, No. 217, § 1; 2005, No. 1697, § 14; 2005, No. 1994, § 230.
Ark. Code Ann. § 23-88-301 — AR Code / Title 23 / Chapter 88 / Subchapter 3 / Section 23-88-301
Legislative intent
Status: in_force

It is declared by the General Assembly of the State of Arkansas that adequate insurance upon property in the rural areas is necessary to the economic welfare of the state and that while the need for such insurance is increasing, the market for it is not adequate and may become less adequate in the future. It is the purpose of this subchapter to provide a mandatory plan to assure an adequate market for property insurance on insurable risks in the rural areas of Arkansas. Acts 1985 (1st Ex. Sess.), No. 25, § 1; A.S.A. 1947, § 66-6101.

It is declared by the General Assembly of the State of Arkansas that adequate insurance upon property in the rural areas is necessary to the economic welfare of the state and that while the need for such insurance is increasing, the market for it is not adequate and may become less adequate in the future. It is the purpose of this subchapter to provide a mandatory plan to assure an adequate market for property insurance on insurable risks in the rural areas of Arkansas.

Acts 1985 (1st Ex. Sess.), No. 25, § 1; A.S.A. 1947, § 66-6101.
Ark. Code Ann. § 23-63-907 — AR Code / Title 23 / Chapter 63 / Subchapter 9 / Section 23-63-907
Rights of insurer during solvency
Status: in_force

So long as the insurer remains solvent and is in compliance with the Arkansas Insurance Code, it may: (1) Demand, receive, sue for, and recover the income from the securities or assets deposited; (2) Exchange and substitute for the deposited securities or assets, or any part thereof, other eligible securities and assets of equivalent or greater value; and (3) At any reasonable time inspect the deposit. Acts 1959, No. 148, § 138; A.S.A. 1947, § 66-2707.

So long as the insurer remains solvent and is in compliance with the Arkansas Insurance Code, it may:

(1) Demand, receive, sue for, and recover the income from the securities or assets deposited;

(2) Exchange and substitute for the deposited securities or assets, or any part thereof, other eligible securities and assets of equivalent or greater value; and

(3) At any reasonable time inspect the deposit.

Acts 1959, No. 148, § 138; A.S.A. 1947, § 66-2707.
Ark. Code Ann. § 23-51-145 — AR Code / Title 23 / Chapter 51 / Section 23-51-145
Transactions with management and affiliates
Status: in_force

(a) Without the prior approval of a disinterested majority of the board recorded in the minutes, or if a disinterested majority cannot be obtained the prior written approval of a majority of the disinterested directors and the Bank Commissioner, a state trust company may not directly or indirectly: (1) Sell or lease an asset of the state trust company to an officer, director, or principal shareholder of the state trust company or an affiliate of the state trust company; (2) Purchase or lease an asset in which an officer, director or principal shareholder of the state trust company or an affiliate of the state trust company has an interest; or (3) Subject to § 23-51-128 , extend credit to an officer, director, or principal shareholder of the state trust company or an affiliate of the state trust company. (b) Notwithstanding subsection (a) of this section, a lease transaction described in subdivision (a)(2) of this section involving real property may not be consummated, renewed, or extended without the prior written approval of the commissioner. For purposes of this subsection only, an affiliate of the state trust company does not include a subsidiary of the state trust company. (c) Subject to § 23-51-128 , a state trust company may not directly or indirectly extend credit to an employee, officer, director or principal shareholder of the state trust company or an affiliate of the state trust company, unless the extension of credit: (1) Is made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the state trust company with persons who are not employees, officers, directors, principal shareholders, or affiliates of the state trust company; (2) Does not involve more than the normal risk of repayment or present other unfavorable features; and (3) The state trust company follows credit underwriting procedures that are not less stringent than those applicable to comparable transactions by the state trust company with persons who are not employees, officers, directors, principal shareholders or affiliates of the state trust company. (d) An officer or director of the state trust company who knowingly participates in or knowingly permits a violation of this section shall be guilty of a Class D felony. (e) The commissioner may adopt rules to administer and carry out this section, including rules to establish limits, requirements, or exemptions other than those specified by this section for particular categories of transactions. Amended by Act 2019, No. 315,§ 2593, eff. 7/24/2019. Acts 1997, No. 940, § 45.

(a) Without the prior approval of a disinterested majority of the board recorded in the minutes, or if a disinterested majority cannot be obtained the prior written approval of a majority of the disinterested directors and the Bank Commissioner, a state trust company may not directly or indirectly: (1) Sell or lease an asset of the state trust company to an officer, director, or principal shareholder of the state trust company or an affiliate of the state trust company; (2) Purchase or lease an asset in which an officer, director or principal shareholder of the state trust company or an affiliate of the state trust company has an interest; or (3) Subject to § 23-51-128 , extend credit to an officer, director, or principal shareholder of the state trust company or an affiliate of the state trust company.

(1) Sell or lease an asset of the state trust company to an officer, director, or principal shareholder of the state trust company or an affiliate of the state trust company;

(2) Purchase or lease an asset in which an officer, director or principal shareholder of the state trust company or an affiliate of the state trust company has an interest; or

(3) Subject to § 23-51-128 , extend credit to an officer, director, or principal shareholder of the state trust company or an affiliate of the state trust company.

(b) Notwithstanding subsection (a) of this section, a lease transaction described in subdivision (a)(2) of this section involving real property may not be consummated, renewed, or extended without the prior written approval of the commissioner. For purposes of this subsection only, an affiliate of the state trust company does not include a subsidiary of the state trust company.

(c) Subject to § 23-51-128 , a state trust company may not directly or indirectly extend credit to an employee, officer, director or principal shareholder of the state trust company or an affiliate of the state trust company, unless the extension of credit: (1) Is made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the state trust company with persons who are not employees, officers, directors, principal shareholders, or affiliates of the state trust company; (2) Does not involve more than the normal risk of repayment or present other unfavorable features; and (3) The state trust company follows credit underwriting procedures that are not less stringent than those applicable to comparable transactions by the state trust company with persons who are not employees, officers, directors, principal shareholders or affiliates of the state trust company.

(1) Is made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the state trust company with persons who are not employees, officers, directors, principal shareholders, or affiliates of the state trust company;

(2) Does not involve more than the normal risk of repayment or present other unfavorable features; and

(3) The state trust company follows credit underwriting procedures that are not less stringent than those applicable to comparable transactions by the state trust company with persons who are not employees, officers, directors, principal shareholders or affiliates of the state trust company.

(d) An officer or director of the state trust company who knowingly participates in or knowingly permits a violation of this section shall be guilty of a Class D felony.

(e) The commissioner may adopt rules to administer and carry out this section, including rules to establish limits, requirements, or exemptions other than those specified by this section for particular categories of transactions.

Amended by Act 2019, No. 315,§ 2593, eff. 7/24/2019.

Acts 1997, No. 940, § 45.
Ark. Code Ann. § 23-16-508 — AR Code / Title 23 / Chapter 16 / Subchapter 5 / Section 23-16-508
Access to facilities and records
Status: in_force

A contract carrier shall allow an employee of the Arkansas Highway Police Division of the Arkansas Department of Transportation or its designee access to: (1) A facility to determine compliance with this subchapter; and (2) Records or information related to an accident investigation under this subchapter. Amended by Act 2017, No. 707,§ 263, eff. 8/1/2017. Acts 2009, No. 243, § 1.

A contract carrier shall allow an employee of the Arkansas Highway Police Division of the Arkansas Department of Transportation or its designee access to:

(1) A facility to determine compliance with this subchapter; and

(2) Records or information related to an accident investigation under this subchapter.

Amended by Act 2017, No. 707,§ 263, eff. 8/1/2017.

Acts 2009, No. 243, § 1.
Ark. Code Ann. § 23-18-909 — AR Code / Title 23 / Chapter 18 / Subchapter 9 / Section 23-18-909
Storm recovery bonds not public debt - Legal investments
Status: in_force

(a) (1) Storm recovery bonds are not a debt or a general obligation of the state or any of its political subdivisions, agencies, or instrumentalities and are not a charge on their full faith and credit. (2) An issue of storm recovery bonds does not, directly or indirectly or contingently, obligate the state or any agency, political subdivision, or instrumentality of the state to levy any tax or make any appropriation for payment of the bonds, other than for paying storm recovery charges in their capacity as consumers of electricity or natural gas. (3) All storm recovery bonds authorized by a financing order by the Arkansas Public Service Commission shall contain on the face thereof a statement to the following effect: "Neither the full faith and credit nor the taxing power of the State of Arkansas is pledged to the payment of the principal of, or interest on, this bond." (b) Storm recovery bonds shall be legal investments for all governmental units, financial institutions, insurance companies, fiduciaries, and other persons that require statutory authority regarding legal investment. Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021. Acts 2009, No. 729, § 1.

(a) (1) Storm recovery bonds are not a debt or a general obligation of the state or any of its political subdivisions, agencies, or instrumentalities and are not a charge on their full faith and credit. (2) An issue of storm recovery bonds does not, directly or indirectly or contingently, obligate the state or any agency, political subdivision, or instrumentality of the state to levy any tax or make any appropriation for payment of the bonds, other than for paying storm recovery charges in their capacity as consumers of electricity or natural gas. (3) All storm recovery bonds authorized by a financing order by the Arkansas Public Service Commission shall contain on the face thereof a statement to the following effect: "Neither the full faith and credit nor the taxing power of the State of Arkansas is pledged to the payment of the principal of, or interest on, this bond."

(1) Storm recovery bonds are not a debt or a general obligation of the state or any of its political subdivisions, agencies, or instrumentalities and are not a charge on their full faith and credit.

(2) An issue of storm recovery bonds does not, directly or indirectly or contingently, obligate the state or any agency, political subdivision, or instrumentality of the state to levy any tax or make any appropriation for payment of the bonds, other than for paying storm recovery charges in their capacity as consumers of electricity or natural gas.

(3) All storm recovery bonds authorized by a financing order by the Arkansas Public Service Commission shall contain on the face thereof a statement to the following effect: "Neither the full faith and credit nor the taxing power of the State of Arkansas is pledged to the payment of the principal of, or interest on, this bond."

"Neither the full faith and credit nor the taxing power of the State of Arkansas is pledged to the payment of the principal of, or interest on, this bond."

(b) Storm recovery bonds shall be legal investments for all governmental units, financial institutions, insurance companies, fiduciaries, and other persons that require statutory authority regarding legal investment.

Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021.

Acts 2009, No. 729, § 1.
Ark. Code Ann. § 23-70-123 — AR Code / Title 23 / Chapter 70 / Section 23-70-123
Merger or conversion
Status: in_force

(a) A domestic reciprocal insurer, upon affirmative vote of not less than two-thirds (2/3) of its subscribers who vote on the merger pursuant to due notice and the approval of the Insurance Commissioner of the terms therefor, may merge with another reciprocal insurer or be converted to a stock or mutual insurer. (b) The stock or mutual insurer shall be subject to the same capital or surplus requirements and shall have the same rights as a like domestic insurer transacting like kinds of insurance. (c) The commissioner shall not approve any plan for the merger or conversion which is inequitable to subscribers, or which, if for conversion to a stock insurer, does not give each subscriber preferential right to acquire stock of the proposed insurer proportionate to his or her interest in the reciprocal insurer as determined in accordance with § 23-70-122 and a reasonable length of time within which to exercise the right. Acts 1959, No. 148, § 538; A.S.A. 1947, § 66-4329.

(a) A domestic reciprocal insurer, upon affirmative vote of not less than two-thirds (2/3) of its subscribers who vote on the merger pursuant to due notice and the approval of the Insurance Commissioner of the terms therefor, may merge with another reciprocal insurer or be converted to a stock or mutual insurer.

(b) The stock or mutual insurer shall be subject to the same capital or surplus requirements and shall have the same rights as a like domestic insurer transacting like kinds of insurance.

(c) The commissioner shall not approve any plan for the merger or conversion which is inequitable to subscribers, or which, if for conversion to a stock insurer, does not give each subscriber preferential right to acquire stock of the proposed insurer proportionate to his or her interest in the reciprocal insurer as determined in accordance with § 23-70-122 and a reasonable length of time within which to exercise the right.

Acts 1959, No. 148, § 538; A.S.A. 1947, § 66-4329.
Ark. Code Ann. § 23-76-106 — AR Code / Title 23 / Chapter 76 / Section 23-76-106
License to practice, sell, or dispense required
Status: in_force

No person shall perform any of the services or procedures or sell or dispense any goods or devices in the field of the healing arts for which a license is required under the laws of the State of Arkansas unless the person holds a valid license authorizing him or her to perform the procedures, render the services, or sell or dispense the goods or devices. Acts 1975, No. 454, § 2; A.S.A. 1947, § 66-5202.

No person shall perform any of the services or procedures or sell or dispense any goods or devices in the field of the healing arts for which a license is required under the laws of the State of Arkansas unless the person holds a valid license authorizing him or her to perform the procedures, render the services, or sell or dispense the goods or devices.

Acts 1975, No. 454, § 2; A.S.A. 1947, § 66-5202.
Ark. Code Ann. § 23-2-410 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-410
Refusal to attend or testify - Contempt proceedings
Status: in_force

In case of failure on the part of any person to comply with any lawful order of the commission, of any commissioner, or of any examiner specifically designated to conduct an investigation, or to comply with any subpoena or subpoena duces tecum, or in case of failure to testify concerning any matter on which he or she may be lawfully interrogated, any court of record of general jurisdiction or a judge thereof, upon application of the commission or of any commissioner, may compel obedience by prosecuting proceedings for contempt as in the case of disobedience of the requirements of a subpoena issued from the court or of the refusal to testify therein. Acts 1935, No. 324, § 23; Pope's Dig., § 2086; A.S.A. 1947, § 73-222.

In case of failure on the part of any person to comply with any lawful order of the commission, of any commissioner, or of any examiner specifically designated to conduct an investigation, or to comply with any subpoena or subpoena duces tecum, or in case of failure to testify concerning any matter on which he or she may be lawfully interrogated, any court of record of general jurisdiction or a judge thereof, upon application of the commission or of any commissioner, may compel obedience by prosecuting proceedings for contempt as in the case of disobedience of the requirements of a subpoena issued from the court or of the refusal to testify therein.

Acts 1935, No. 324, § 23; Pope's Dig., § 2086; A.S.A. 1947, § 73-222.
Ark. Code Ann. § 23-13-255 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-255
Access to property, equipment, and records
Status: in_force

The Arkansas Department of Transportation or its duly authorized agents at all times shall have access to all lands, buildings, or equipment of motor carriers and private carriers used in connection with their operation and also to all pertinent accounts, records, documents, and memoranda kept or required to be kept by motor carriers and private carriers. Acts 1955, No. 397, § 20; A.S.A. 1947, § 73-1773; Acts 1991, No. 297, § 1.

The Arkansas Department of Transportation or its duly authorized agents at all times shall have access to all lands, buildings, or equipment of motor carriers and private carriers used in connection with their operation and also to all pertinent accounts, records, documents, and memoranda kept or required to be kept by motor carriers and private carriers.

Acts 1955, No. 397, § 20; A.S.A. 1947, § 73-1773; Acts 1991, No. 297, § 1.
Ark. Code Ann. § 23-18-308 — AR Code / Title 23 / Chapter 18 / Subchapter 3 / Section 23-18-308
Jurisdiction of commission
Status: in_force

All corporations organized under this subchapter shall be in all respects subject to the jurisdiction, supervision, regulation, and control of the Arkansas Public Service Commission to the same extent and in the same manner as a public utility, except as otherwise specifically provided by law. Acts 1937, No. 342, § 31; Pope's Dig., § 2345; Acts 1955, No. 85, § 2; 1957, No. 103, § 2; 1967, No. 234, § 6; A.S.A. 1947, § 77-1131.

All corporations organized under this subchapter shall be in all respects subject to the jurisdiction, supervision, regulation, and control of the Arkansas Public Service Commission to the same extent and in the same manner as a public utility, except as otherwise specifically provided by law.

Acts 1937, No. 342, § 31; Pope's Dig., § 2345; Acts 1955, No. 85, § 2; 1957, No. 103, § 2; 1967, No. 234, § 6; A.S.A. 1947, § 77-1131.
Ark. Code Ann. § 23-66-503 — AR Code / Title 23 / Chapter 66 / Subchapter 5 / Section 23-66-503
Fraud warning required
Status: in_force

(a) Claim forms, proofs of loss, or any similar documents, however designated, seeking payment or benefit pursuant to an insurance policy, and applications for insurance, regardless of the form of transmission, shall contain the following statement or a substantially similar statement: "Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.". (b) The lack of a statement as required in subsection (a) of this section does not constitute a defense in any prosecution for a fraudulent insurance act. (c) Policies issued by unauthorized insurers shall contain a statement disclosing the status of the insurer to do business in the state where the policy is delivered or issued for delivery or the state where coverage is in force. The requirement of this subsection may be satisfied by a disclosure specifically required by § 23-65-307 . (d) The requirements of this section shall not apply to reinsurance proofs of loss or applications. Acts 1997, No. 217, § 1.

(a) Claim forms, proofs of loss, or any similar documents, however designated, seeking payment or benefit pursuant to an insurance policy, and applications for insurance, regardless of the form of transmission, shall contain the following statement or a substantially similar statement: "Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.".

"Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.".

(b) The lack of a statement as required in subsection (a) of this section does not constitute a defense in any prosecution for a fraudulent insurance act.

(c) Policies issued by unauthorized insurers shall contain a statement disclosing the status of the insurer to do business in the state where the policy is delivered or issued for delivery or the state where coverage is in force. The requirement of this subsection may be satisfied by a disclosure specifically required by § 23-65-307 .

(d) The requirements of this section shall not apply to reinsurance proofs of loss or applications.

Acts 1997, No. 217, § 1.
Ark. Code Ann. § 23-15-205 — AR Code / Title 23 / Chapter 15 / Subchapter 2 / Section 23-15-205
Safety standards
Status: in_force

(a) The Arkansas Public Service Commission by order may promulgate, amend, enforce, waive, and repeal minimum safety standards for the transportation of gas and pipeline facilities. (b) (1) These standards may apply to the design, installation, inspection, testing, construction, extension, operation, replacement, and maintenance of pipeline facilities. (2) The state safety standards shall be practicable and designed to meet the needs for pipeline safety. (c) In prescribing the safety standards, the commission shall consider: (1) Relevant available pipeline safety data; (2) Whether such standards are appropriate for the particular type of pipeline transportation; (3) The reasonableness of any proposed standard; and (4) The extent to which such standards will contribute to the public safety. (d) Safety regulations promulgated for gas pipeline facilities or the transportation of gas shall be consistent with federal law and with rules and regulations promulgated under authority of the Natural Gas Pipeline Safety Act of 1968, Pub. L. No. 90-481, as amended. (e) Standards affecting the design, installation, construction, initial inspection, and initial testing shall not be applicable to pipeline facilities in existence on the date such standards are adopted. (f) Whenever the commission finds a particular facility to be hazardous to life or property, it shall be empowered to require the person operating the facility to cease such operation or to take steps necessary to remove the hazards. Amended by Act 2013, No. 1343,§ 1, eff. 8/16/2013. Acts 1971, No. 285, § 3; A.S.A. 1947, § 73-1910; Acts 1991, No. 793, § 3; 1999, No. 1048, § 2.

(a) The Arkansas Public Service Commission by order may promulgate, amend, enforce, waive, and repeal minimum safety standards for the transportation of gas and pipeline facilities.

(b) (1) These standards may apply to the design, installation, inspection, testing, construction, extension, operation, replacement, and maintenance of pipeline facilities. (2) The state safety standards shall be practicable and designed to meet the needs for pipeline safety.

(1) These standards may apply to the design, installation, inspection, testing, construction, extension, operation, replacement, and maintenance of pipeline facilities.

(2) The state safety standards shall be practicable and designed to meet the needs for pipeline safety.

(c) In prescribing the safety standards, the commission shall consider: (1) Relevant available pipeline safety data; (2) Whether such standards are appropriate for the particular type of pipeline transportation; (3) The reasonableness of any proposed standard; and (4) The extent to which such standards will contribute to the public safety.

(1) Relevant available pipeline safety data;

(2) Whether such standards are appropriate for the particular type of pipeline transportation;

(3) The reasonableness of any proposed standard; and

(4) The extent to which such standards will contribute to the public safety.

(d) Safety regulations promulgated for gas pipeline facilities or the transportation of gas shall be consistent with federal law and with rules and regulations promulgated under authority of the Natural Gas Pipeline Safety Act of 1968, Pub. L. No. 90-481, as amended.

(e) Standards affecting the design, installation, construction, initial inspection, and initial testing shall not be applicable to pipeline facilities in existence on the date such standards are adopted.

(f) Whenever the commission finds a particular facility to be hazardous to life or property, it shall be empowered to require the person operating the facility to cease such operation or to take steps necessary to remove the hazards.

Amended by Act 2013, No. 1343,§ 1, eff. 8/16/2013.

Acts 1971, No. 285, § 3; A.S.A. 1947, § 73-1910; Acts 1991, No. 793, § 3; 1999, No. 1048, § 2.
Ark. Code Ann. § 23-66-203 — AR Code / Title 23 / Chapter 66 / Subchapter 2 / Section 23-66-203
Definitions
Status: in_force

As used in this subchapter: (1) "Commissioner" means the Insurance Commissioner of this state; (2) (A) "Depository institution" means a bank or savings association. (B) The terms "depository institution" or "depository corporation" do not include an insurance company; (3) "Insurance policy" or "insurance contract" means any contract of insurance, indemnity, medical or hospital service, suretyship, or annuity which is issued, proposed for issuance, or intended for issuance by any person; and (4) (A) "Person" means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including agents, brokers, and adjusters. (B) (i) "Person" also means medical service plans and hospital service plans as defined in § 23-75-101 . (ii) For purposes of this subchapter, medical and hospital service plans shall be deemed to be engaged in the business of insurance. Acts 1959, No. 148, § 210; 1973, No. 41, § 1; A.S.A. 1947, § 66-3003; Acts 2003, No. 1747, § 1.

As used in this subchapter:

(1) "Commissioner" means the Insurance Commissioner of this state;

(2) (A) "Depository institution" means a bank or savings association. (B) The terms "depository institution" or "depository corporation" do not include an insurance company;

(A) "Depository institution" means a bank or savings association.

(B) The terms "depository institution" or "depository corporation" do not include an insurance company;

(3) "Insurance policy" or "insurance contract" means any contract of insurance, indemnity, medical or hospital service, suretyship, or annuity which is issued, proposed for issuance, or intended for issuance by any person; and

(4) (A) "Person" means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including agents, brokers, and adjusters. (B) (i) "Person" also means medical service plans and hospital service plans as defined in § 23-75-101 . (ii) For purposes of this subchapter, medical and hospital service plans shall be deemed to be engaged in the business of insurance.

(A) "Person" means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including agents, brokers, and adjusters.

(B) (i) "Person" also means medical service plans and hospital service plans as defined in § 23-75-101 . (ii) For purposes of this subchapter, medical and hospital service plans shall be deemed to be engaged in the business of insurance.

(i) "Person" also means medical service plans and hospital service plans as defined in § 23-75-101 .

(ii) For purposes of this subchapter, medical and hospital service plans shall be deemed to be engaged in the business of insurance.

Acts 1959, No. 148, § 210; 1973, No. 41, § 1; A.S.A. 1947, § 66-3003; Acts 2003, No. 1747, § 1.
Ark. Code Ann. § 23-42-506 — AR Code / Title 23 / Chapter 42 / Subchapter 5 / Section 23-42-506
Burden of proof of exemption
Status: in_force

In any proceeding under this chapter, the burden of proving an exemption or an exception from a definition is upon the person claiming it. Acts 1959, No. 254, § 14; 1961, No. 248, § 7; A.S.A. 1947, § 67-1248.

In any proceeding under this chapter, the burden of proving an exemption or an exception from a definition is upon the person claiming it.

Acts 1959, No. 254, § 14; 1961, No. 248, § 7; A.S.A. 1947, § 67-1248.
Ark. Code Ann. § 23-42-208 — AR Code / Title 23 / Chapter 42 / Subchapter 2 / Section 23-42-208
Cooperation with other regulatory agencies
Status: in_force

(a) The Securities Commissioner may enter into an arrangement, agreement, or other working relationship with federal, other state, and self-regulatory authorities whereby documents may be filed and maintained in the Central Registration Depository with the Financial Industry Regulatory Authority, the Securities Registration Depository with the North American Securities Administrators Association, such other central depository system as determined by the commissioner, or the other agencies or authorities. (b) It is the intent of this section that the commissioner be provided the authority to reduce duplication of filings, reduce administrative costs, and establish uniform procedures, forms, and administration with the states and federal authorities. (c) The commissioner may permit initial and renewal registration filings required under this chapter to be filed with the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the North American Securities Administrators Association, or other similar authorities. (d) The commissioner may accept uniform securities examinations or other procedures designed to implement a uniform national securities regulatory system or facilitate common practices and procedures among the states. Acts 1959, No. 254, § 4; 1979, No. 754, § 5; 1983, No. 836, § 8; A.S.A. § 67-1238; Acts 1995, No. 845, § 9; 2009, No. 462, §§ 5, 6.

(a) The Securities Commissioner may enter into an arrangement, agreement, or other working relationship with federal, other state, and self-regulatory authorities whereby documents may be filed and maintained in the Central Registration Depository with the Financial Industry Regulatory Authority, the Securities Registration Depository with the North American Securities Administrators Association, such other central depository system as determined by the commissioner, or the other agencies or authorities.

(b) It is the intent of this section that the commissioner be provided the authority to reduce duplication of filings, reduce administrative costs, and establish uniform procedures, forms, and administration with the states and federal authorities.

(c) The commissioner may permit initial and renewal registration filings required under this chapter to be filed with the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the North American Securities Administrators Association, or other similar authorities.

(d) The commissioner may accept uniform securities examinations or other procedures designed to implement a uniform national securities regulatory system or facilitate common practices and procedures among the states.

Acts 1959, No. 254, § 4; 1979, No. 754, § 5; 1983, No. 836, § 8; A.S.A. § 67-1238; Acts 1995, No. 845, § 9; 2009, No. 462, §§ 5, 6.
Ark. Code Ann. § 23-102-118 — AR Code / Title 23 / Chapter 102 / Section 23-102-118
Exemption from Arkansas Property and Casualty Insurance Guaranty Act
Status: in_force

Notwithstanding any other provision of law to the contrary, neither the Arkansas Earthquake Authority nor its policyholders shall be subject to the provisions of or be eligible for the benefits provided by the Arkansas Property and Casualty Insurance Guaranty Act, § 23-90-101 et seq. Acts 1999, No. 1343, § 18.

Notwithstanding any other provision of law to the contrary, neither the Arkansas Earthquake Authority nor its policyholders shall be subject to the provisions of or be eligible for the benefits provided by the Arkansas Property and Casualty Insurance Guaranty Act, § 23-90-101 et seq.

Acts 1999, No. 1343, § 18.
Ark. Code Ann. § 23-42-105 — AR Code / Title 23 / Chapter 42 / Subchapter 1 / Section 23-42-105
Prosecution of criminal offenses
Status: in_force

(a) (1) Prosecutions for offenses described in § 23-42-104 must be commenced within the following periods of limitation: (A) Felonies - five (5) years from the date of the occurrence; and (B) Misdemeanors - one (1) year from the date of the occurrence. (2) The five-year felony and one-year misdemeanor period of limitation does not begin to run until after the commission of the last overt act in the furtherance of a scheme or course of conduct. (b) For the purposes of venue for any civil or criminal action under this chapter, any violation of this chapter or of any rule or order promulgated hereunder shall be considered to have been committed in: (1) Any county in which any act was performed in furtherance of the transaction which violated this chapter; (2) Any county in which the principal or an aider or abettor initiated or acted in furtherance of a course of conduct; (3) Any county from which any violator gained control or possession of any proceeds of the violation or of any books, records, documents, or other material or objects which were used in furtherance of the violation; or (4) Any county from which or into which the violator directed any postal, telephonic, electronic, or other communication in furtherance of the violation. (c) The Securities Commissioner may refer such evidence as is available concerning violations of this chapter or any rule or order hereunder to any appropriate prosecuting authority. Amended by Act 2019, No. 315,§ 2511, eff. 7/24/2019. Acts 1959, No. 245, § 21; 1961, No. 248, § 8; 1977, No. 493, § 13; 1979, No. 754, § 7; A.S.A. 1947, § 67-1255.

(a) (1) Prosecutions for offenses described in § 23-42-104 must be commenced within the following periods of limitation: (A) Felonies - five (5) years from the date of the occurrence; and (B) Misdemeanors - one (1) year from the date of the occurrence. (2) The five-year felony and one-year misdemeanor period of limitation does not begin to run until after the commission of the last overt act in the furtherance of a scheme or course of conduct.

(1) Prosecutions for offenses described in § 23-42-104 must be commenced within the following periods of limitation: (A) Felonies - five (5) years from the date of the occurrence; and (B) Misdemeanors - one (1) year from the date of the occurrence.

(A) Felonies - five (5) years from the date of the occurrence; and

(B) Misdemeanors - one (1) year from the date of the occurrence.

(2) The five-year felony and one-year misdemeanor period of limitation does not begin to run until after the commission of the last overt act in the furtherance of a scheme or course of conduct.

(b) For the purposes of venue for any civil or criminal action under this chapter, any violation of this chapter or of any rule or order promulgated hereunder shall be considered to have been committed in: (1) Any county in which any act was performed in furtherance of the transaction which violated this chapter; (2) Any county in which the principal or an aider or abettor initiated or acted in furtherance of a course of conduct; (3) Any county from which any violator gained control or possession of any proceeds of the violation or of any books, records, documents, or other material or objects which were used in furtherance of the violation; or (4) Any county from which or into which the violator directed any postal, telephonic, electronic, or other communication in furtherance of the violation.

(1) Any county in which any act was performed in furtherance of the transaction which violated this chapter;

(2) Any county in which the principal or an aider or abettor initiated or acted in furtherance of a course of conduct;

(3) Any county from which any violator gained control or possession of any proceeds of the violation or of any books, records, documents, or other material or objects which were used in furtherance of the violation; or

(4) Any county from which or into which the violator directed any postal, telephonic, electronic, or other communication in furtherance of the violation.

(c) The Securities Commissioner may refer such evidence as is available concerning violations of this chapter or any rule or order hereunder to any appropriate prosecuting authority.

Amended by Act 2019, No. 315,§ 2511, eff. 7/24/2019.

Acts 1959, No. 245, § 21; 1961, No. 248, § 8; 1977, No. 493, § 13; 1979, No. 754, § 7; A.S.A. 1947, § 67-1255.
Ark. Code Ann. § 23-92-511 — AR Code / Title 23 / Chapter 92 / Subchapter 5 / Section 23-92-511
Fairness in cost sharing - Definitions
Status: in_force

(a) As used in this section: (1) "Cost-sharing requirement" means a copayment, coinsurance, deductible, or annual limitation on cost sharing, including without limitation a limitation subject to the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, that is required by or on behalf of an enrollee in order to receive a specific healthcare service, including a prescription drug, covered by a health benefit plan; (2) "Enrollee" means an individual entitled to healthcare services from a healthcare insurer; (3) (A) "Health benefit plan" means any individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by a healthcare insurer in this state. (B) "Health benefit plan" does not include: (i) Accident-only plans; (ii) Specified disease plans; (iii) Disability income plans; (iv) Plans that provide only for indemnity for hospital confinement; (v) Long-term-care-only plans that do not include pharmacy benefits; (vi) Other limited-benefit health insurance policies or plans; (vii) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (viii) A plan that provides only dental benefits or eye and vision care benefits; or (ix) A program or plan authorized and funded under 42 U.S.C. § 1396a et seq.; (4) (A) "Healthcare insurer" means an insurance company that is subject to state law regulating insurance and offers health insurance coverage under 42 U.S.C. § 300gg-91 , as it existed on January 1, 2021, a health maintenance organization, or a hospital and medical service corporation. (B) "Healthcare insurer" does not include an entity that provides only dental benefits or eye and vision care benefits; (5) "Healthcare service" means an item or service provided to an individual for the purpose of preventing, alleviating, curing, or healing human illness, injury, or physical disability; and (6) "Person" means a natural person, corporation, mutual company, unincorporated association, partnership, joint venture, limited liability company, trust, estate, foundation, not-for-profit corporation, unincorporated organization, government, or governmental subdivision or agency. (b) (1) When calculating an enrollee's contribution to any applicable cost-sharing requirement, a healthcare insurer shall include any cost-sharing amounts paid by the enrollee or on behalf of the enrollee by another person. (2) The cost-sharing requirement under subdivision (b)(1) of this section does not apply for cost-sharing of a prescription drug if a name-brand prescription drug is prescribed and the prescribed drug: (A) Is not considered to be medically necessary by the prescriber; and (B) Has a medically appropriate generic prescription drug equivalent. (c) (1) Except as provided in subdivision (c)(2) of this section, this section applies to a health benefit plan that is entered into, amended, extended, or renewed on or after January 1, 2022. (2) (A) Benefits offered through a health benefit plan under the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall satisfy the requirements of this section beginning on and after January 1, 2024, if the Insurance Commissioner reports a failure to comply with this section to the Legislative Council. (B) (i) Beginning on January 1, 2022, the Director of the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall report quarterly to the commissioner, Arkansas Legislative Audit, and the Legislative Council concerning details of plan savings and how the process that is used benefits an enrollee and the offered plan. (ii) The report described in subdivision (c)(2)(B)(i) of this section shall include the amount of enrollee savings, plan-specific data on the amount of manufacturer rebates received, and how the manufacturer rebates were applied in each plan for which the program is contracted to administer a prescription drug benefit. (d) (1) The commissioner shall promulgate rules necessary to carry out this section. (2) The rules promulgated under this section shall require a healthcare insurer and the director to submit plan-specific information related to savings and accountability to document how enrollees are realizing a cost savings under each plan. (e) The General Assembly intends for this section to regulate a healthcare insurer only to the extent permissible under applicable law. Added by Act 2021, No. 965,§ 3, eff. 7/28/2021.

(a) As used in this section: (1) "Cost-sharing requirement" means a copayment, coinsurance, deductible, or annual limitation on cost sharing, including without limitation a limitation subject to the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, that is required by or on behalf of an enrollee in order to receive a specific healthcare service, including a prescription drug, covered by a health benefit plan; (2) "Enrollee" means an individual entitled to healthcare services from a healthcare insurer; (3) (A) "Health benefit plan" means any individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by a healthcare insurer in this state. (B) "Health benefit plan" does not include: (i) Accident-only plans; (ii) Specified disease plans; (iii) Disability income plans; (iv) Plans that provide only for indemnity for hospital confinement; (v) Long-term-care-only plans that do not include pharmacy benefits; (vi) Other limited-benefit health insurance policies or plans; (vii) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (viii) A plan that provides only dental benefits or eye and vision care benefits; or (ix) A program or plan authorized and funded under 42 U.S.C. § 1396a et seq.; (4) (A) "Healthcare insurer" means an insurance company that is subject to state law regulating insurance and offers health insurance coverage under 42 U.S.C. § 300gg-91 , as it existed on January 1, 2021, a health maintenance organization, or a hospital and medical service corporation. (B) "Healthcare insurer" does not include an entity that provides only dental benefits or eye and vision care benefits; (5) "Healthcare service" means an item or service provided to an individual for the purpose of preventing, alleviating, curing, or healing human illness, injury, or physical disability; and (6) "Person" means a natural person, corporation, mutual company, unincorporated association, partnership, joint venture, limited liability company, trust, estate, foundation, not-for-profit corporation, unincorporated organization, government, or governmental subdivision or agency.

(1) "Cost-sharing requirement" means a copayment, coinsurance, deductible, or annual limitation on cost sharing, including without limitation a limitation subject to the Patient Protection and Affordable Care Act, Pub. L. No. 111-148, that is required by or on behalf of an enrollee in order to receive a specific healthcare service, including a prescription drug, covered by a health benefit plan;

(2) "Enrollee" means an individual entitled to healthcare services from a healthcare insurer;

(3) (A) "Health benefit plan" means any individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by a healthcare insurer in this state. (B) "Health benefit plan" does not include: (i) Accident-only plans; (ii) Specified disease plans; (iii) Disability income plans; (iv) Plans that provide only for indemnity for hospital confinement; (v) Long-term-care-only plans that do not include pharmacy benefits; (vi) Other limited-benefit health insurance policies or plans; (vii) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (viii) A plan that provides only dental benefits or eye and vision care benefits; or (ix) A program or plan authorized and funded under 42 U.S.C. § 1396a et seq.;

(A) "Health benefit plan" means any individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by a healthcare insurer in this state.

(B) "Health benefit plan" does not include: (i) Accident-only plans; (ii) Specified disease plans; (iii) Disability income plans; (iv) Plans that provide only for indemnity for hospital confinement; (v) Long-term-care-only plans that do not include pharmacy benefits; (vi) Other limited-benefit health insurance policies or plans; (vii) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (viii) A plan that provides only dental benefits or eye and vision care benefits; or (ix) A program or plan authorized and funded under 42 U.S.C. § 1396a et seq.;

(i) Accident-only plans;

(ii) Specified disease plans;

(iii) Disability income plans;

(iv) Plans that provide only for indemnity for hospital confinement;

(v) Long-term-care-only plans that do not include pharmacy benefits;

(vi) Other limited-benefit health insurance policies or plans;

(vii) Health benefit plans provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., and the Public Employee Workers' Compensation Act, § 21-5-601 et seq.;

(viii) A plan that provides only dental benefits or eye and vision care benefits; or

(ix) A program or plan authorized and funded under 42 U.S.C. § 1396a et seq.;

(4) (A) "Healthcare insurer" means an insurance company that is subject to state law regulating insurance and offers health insurance coverage under 42 U.S.C. § 300gg-91 , as it existed on January 1, 2021, a health maintenance organization, or a hospital and medical service corporation. (B) "Healthcare insurer" does not include an entity that provides only dental benefits or eye and vision care benefits;

(A) "Healthcare insurer" means an insurance company that is subject to state law regulating insurance and offers health insurance coverage under 42 U.S.C. § 300gg-91 , as it existed on January 1, 2021, a health maintenance organization, or a hospital and medical service corporation.

(B) "Healthcare insurer" does not include an entity that provides only dental benefits or eye and vision care benefits;

(5) "Healthcare service" means an item or service provided to an individual for the purpose of preventing, alleviating, curing, or healing human illness, injury, or physical disability; and

(6) "Person" means a natural person, corporation, mutual company, unincorporated association, partnership, joint venture, limited liability company, trust, estate, foundation, not-for-profit corporation, unincorporated organization, government, or governmental subdivision or agency.

(b) (1) When calculating an enrollee's contribution to any applicable cost-sharing requirement, a healthcare insurer shall include any cost-sharing amounts paid by the enrollee or on behalf of the enrollee by another person. (2) The cost-sharing requirement under subdivision (b)(1) of this section does not apply for cost-sharing of a prescription drug if a name-brand prescription drug is prescribed and the prescribed drug: (A) Is not considered to be medically necessary by the prescriber; and (B) Has a medically appropriate generic prescription drug equivalent.

(1) When calculating an enrollee's contribution to any applicable cost-sharing requirement, a healthcare insurer shall include any cost-sharing amounts paid by the enrollee or on behalf of the enrollee by another person.

(2) The cost-sharing requirement under subdivision (b)(1) of this section does not apply for cost-sharing of a prescription drug if a name-brand prescription drug is prescribed and the prescribed drug: (A) Is not considered to be medically necessary by the prescriber; and (B) Has a medically appropriate generic prescription drug equivalent.

(A) Is not considered to be medically necessary by the prescriber; and

(B) Has a medically appropriate generic prescription drug equivalent.

(c) (1) Except as provided in subdivision (c)(2) of this section, this section applies to a health benefit plan that is entered into, amended, extended, or renewed on or after January 1, 2022. (2) (A) Benefits offered through a health benefit plan under the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall satisfy the requirements of this section beginning on and after January 1, 2024, if the Insurance Commissioner reports a failure to comply with this section to the Legislative Council. (B) (i) Beginning on January 1, 2022, the Director of the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall report quarterly to the commissioner, Arkansas Legislative Audit, and the Legislative Council concerning details of plan savings and how the process that is used benefits an enrollee and the offered plan. (ii) The report described in subdivision (c)(2)(B)(i) of this section shall include the amount of enrollee savings, plan-specific data on the amount of manufacturer rebates received, and how the manufacturer rebates were applied in each plan for which the program is contracted to administer a prescription drug benefit.

(1) Except as provided in subdivision (c)(2) of this section, this section applies to a health benefit plan that is entered into, amended, extended, or renewed on or after January 1, 2022.

(2) (A) Benefits offered through a health benefit plan under the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall satisfy the requirements of this section beginning on and after January 1, 2024, if the Insurance Commissioner reports a failure to comply with this section to the Legislative Council. (B) (i) Beginning on January 1, 2022, the Director of the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall report quarterly to the commissioner, Arkansas Legislative Audit, and the Legislative Council concerning details of plan savings and how the process that is used benefits an enrollee and the offered plan. (ii) The report described in subdivision (c)(2)(B)(i) of this section shall include the amount of enrollee savings, plan-specific data on the amount of manufacturer rebates received, and how the manufacturer rebates were applied in each plan for which the program is contracted to administer a prescription drug benefit.

(A) Benefits offered through a health benefit plan under the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall satisfy the requirements of this section beginning on and after January 1, 2024, if the Insurance Commissioner reports a failure to comply with this section to the Legislative Council.

(B) (i) Beginning on January 1, 2022, the Director of the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall report quarterly to the commissioner, Arkansas Legislative Audit, and the Legislative Council concerning details of plan savings and how the process that is used benefits an enrollee and the offered plan. (ii) The report described in subdivision (c)(2)(B)(i) of this section shall include the amount of enrollee savings, plan-specific data on the amount of manufacturer rebates received, and how the manufacturer rebates were applied in each plan for which the program is contracted to administer a prescription drug benefit.

(i) Beginning on January 1, 2022, the Director of the Evidence-Based Prescription Drug Program of the College of Pharmacy of the University of Arkansas for Medical Sciences shall report quarterly to the commissioner, Arkansas Legislative Audit, and the Legislative Council concerning details of plan savings and how the process that is used benefits an enrollee and the offered plan.

(ii) The report described in subdivision (c)(2)(B)(i) of this section shall include the amount of enrollee savings, plan-specific data on the amount of manufacturer rebates received, and how the manufacturer rebates were applied in each plan for which the program is contracted to administer a prescription drug benefit.

(d) (1) The commissioner shall promulgate rules necessary to carry out this section. (2) The rules promulgated under this section shall require a healthcare insurer and the director to submit plan-specific information related to savings and accountability to document how enrollees are realizing a cost savings under each plan.

(1) The commissioner shall promulgate rules necessary to carry out this section.

(2) The rules promulgated under this section shall require a healthcare insurer and the director to submit plan-specific information related to savings and accountability to document how enrollees are realizing a cost savings under each plan.

(e) The General Assembly intends for this section to regulate a healthcare insurer only to the extent permissible under applicable law.

Added by Act 2021, No. 965,§ 3, eff. 7/28/2021.
Ark. Code Ann. § 23-13-229 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-229
Temporary authority
Status: in_force

(a) To provide motor carrier service for which there is an urgent and immediate need to, from, or between points within a territory having no motor carrier service deemed capable of meeting that need, the Arkansas Department of Transportation in its discretion and without hearing or other proceeding may grant temporary authority for a period not exceeding ninety (90) days for the service by common or contract carrier, as the case may be. Satisfactory proof of the urgent and immediate need shall be made by affidavit or other verified proof, as the department shall prescribe. (b) The temporary authority shall be granted only upon payment of a filing fee in the amount of twenty-five dollars ($25.00) and compliance with the requirements of §§ 23-13-227 and 23-13-244 . The filing fees shall be collected by the department to be deposited into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund. (c) After the temporary authority is granted, the department shall notify any carrier already authorized to perform all or any part of the service so authorized temporarily. Upon application in writing by the carrier, the department shall hold such hearings and make such further determination with respect to such temporary authority as the public interest shall require. (d) The grant of temporary authority shall not be extended for any cause. (e) Issuance of such temporary authority shall create no presumption that corresponding permanent authority will be granted thereafter. Amended by Act 2017, No. 707,§ 203, eff. 8/1/2017. Acts 1955, No. 397, § 6; 1983, No. 565, § 1; A.S.A. 1947, § 73-1759.

(a) To provide motor carrier service for which there is an urgent and immediate need to, from, or between points within a territory having no motor carrier service deemed capable of meeting that need, the Arkansas Department of Transportation in its discretion and without hearing or other proceeding may grant temporary authority for a period not exceeding ninety (90) days for the service by common or contract carrier, as the case may be. Satisfactory proof of the urgent and immediate need shall be made by affidavit or other verified proof, as the department shall prescribe.

(b) The temporary authority shall be granted only upon payment of a filing fee in the amount of twenty-five dollars ($25.00) and compliance with the requirements of §§ 23-13-227 and 23-13-244 . The filing fees shall be collected by the department to be deposited into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund.

(c) After the temporary authority is granted, the department shall notify any carrier already authorized to perform all or any part of the service so authorized temporarily. Upon application in writing by the carrier, the department shall hold such hearings and make such further determination with respect to such temporary authority as the public interest shall require.

(d) The grant of temporary authority shall not be extended for any cause.

(e) Issuance of such temporary authority shall create no presumption that corresponding permanent authority will be granted thereafter.

Amended by Act 2017, No. 707,§ 203, eff. 8/1/2017.

Acts 1955, No. 397, § 6; 1983, No. 565, § 1; A.S.A. 1947, § 73-1759.
Ark. Code Ann. § 23-51-160 — AR Code / Title 23 / Chapter 51 / Section 23-51-160
Unclaimed property
Status: in_force

All unclaimed property remaining in the hands of a liquidated state trust company shall be subject to the provisions of the Uniform Disposition of Unclaimed Property Act, § 18-28-201 et seq. Acts 1997, No. 940, § 60.

All unclaimed property remaining in the hands of a liquidated state trust company shall be subject to the provisions of the Uniform Disposition of Unclaimed Property Act, § 18-28-201 et seq.

Acts 1997, No. 940, § 60.
Ark. Code Ann. § 23-83-104 — AR Code / Title 23 / Chapter 83 / Section 23-83-104
Trustee groups
Status: in_force

A policy issued to a trust or to the trustee of a fund established by two (2) or more employers, or by one (1) or more labor unions or similar employee organizations, or by one (1) or more employers and one (1) or more labor unions or similar employee organizations, which trust or trustee shall be deemed the policyholder, to insure employees of the employers or members of the unions or organizations for the benefit of persons other than the employers or the unions or organizations, subject to the following requirements: (1) (A) The persons eligible for insurance shall be all of the employees of the employers or all of the members of the unions or organizations, or all of any classes thereof. (B) The policy may provide that the term "employees" shall include: (i) Retired employees, the individual proprietor or partners if an employer is an individual proprietorship or a partnership, and directors of a corporate employer; and (ii) The trustees or their employees, or both, if their duties are principally connected with such a trusteeship; (2) (A) The premium for the policy shall be paid from funds contributed by the employer of the insured persons or by the union or similar employee organizations, or by both, or from funds contributed by the insured persons or from both the insured persons and the employer or union or similar employee organization. (B) Except as provided in subdivision (3) of this section, a policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, except those who reject such coverage in writing; and (3) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer. Acts 1981, No. 898, § 4; A.S.A. 1947, § 66-3504.

A policy issued to a trust or to the trustee of a fund established by two (2) or more employers, or by one (1) or more labor unions or similar employee organizations, or by one (1) or more employers and one (1) or more labor unions or similar employee organizations, which trust or trustee shall be deemed the policyholder, to insure employees of the employers or members of the unions or organizations for the benefit of persons other than the employers or the unions or organizations, subject to the following requirements:

(1) (A) The persons eligible for insurance shall be all of the employees of the employers or all of the members of the unions or organizations, or all of any classes thereof. (B) The policy may provide that the term "employees" shall include: (i) Retired employees, the individual proprietor or partners if an employer is an individual proprietorship or a partnership, and directors of a corporate employer; and (ii) The trustees or their employees, or both, if their duties are principally connected with such a trusteeship;

(A) The persons eligible for insurance shall be all of the employees of the employers or all of the members of the unions or organizations, or all of any classes thereof.

(B) The policy may provide that the term "employees" shall include: (i) Retired employees, the individual proprietor or partners if an employer is an individual proprietorship or a partnership, and directors of a corporate employer; and (ii) The trustees or their employees, or both, if their duties are principally connected with such a trusteeship;

(i) Retired employees, the individual proprietor or partners if an employer is an individual proprietorship or a partnership, and directors of a corporate employer; and

(ii) The trustees or their employees, or both, if their duties are principally connected with such a trusteeship;

(2) (A) The premium for the policy shall be paid from funds contributed by the employer of the insured persons or by the union or similar employee organizations, or by both, or from funds contributed by the insured persons or from both the insured persons and the employer or union or similar employee organization. (B) Except as provided in subdivision (3) of this section, a policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, except those who reject such coverage in writing; and

(A) The premium for the policy shall be paid from funds contributed by the employer of the insured persons or by the union or similar employee organizations, or by both, or from funds contributed by the insured persons or from both the insured persons and the employer or union or similar employee organization.

(B) Except as provided in subdivision (3) of this section, a policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, except those who reject such coverage in writing; and

(3) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.

Acts 1981, No. 898, § 4; A.S.A. 1947, § 66-3504.
Ark. Code Ann. § 23-64-227 — AR Code / Title 23 / Chapter 64 / Subchapter 2 / Section 23-64-227
Appointment of Insurance Commissioner as agent for service of process
Status: in_force

(a) Application for an acceptance of any nonresident license provided under this chapter shall thereby be deemed to constitute irrevocable appointment of the Insurance Commissioner as the agent of the licensee for the acceptance of service of process issued in this state in any action or proceeding against the licensee arising out of such licensing or at any time out of transactions under the license. (b) (1) Duplicate copies of the process shall be served upon the commissioner or upon his or her deputy, assistant, or other person in charge of his or her office during his absence. (2) Upon receiving the service, the commissioner shall promptly forward a copy of it by registered mail, return receipt requested, to the nonresident licensee at his or her business address last of record with the commissioner. (3) When process is served upon the commissioner as a nonresident's process agent, the licensee shall be required to appear, answer, or plead within thirty (30) days after date of the mailing of the copy of the process by the commissioner. (4) Process served upon the commissioner and a copy forwarded shall for all purposes constitute service upon the person licensed. Acts 1959, No. 148, § 170; A.S.A. 1947, § 66-2827; Acts 1987, No. 622, § 13; 1997, No. 1004, § 1.

(a) Application for an acceptance of any nonresident license provided under this chapter shall thereby be deemed to constitute irrevocable appointment of the Insurance Commissioner as the agent of the licensee for the acceptance of service of process issued in this state in any action or proceeding against the licensee arising out of such licensing or at any time out of transactions under the license.

(b) (1) Duplicate copies of the process shall be served upon the commissioner or upon his or her deputy, assistant, or other person in charge of his or her office during his absence. (2) Upon receiving the service, the commissioner shall promptly forward a copy of it by registered mail, return receipt requested, to the nonresident licensee at his or her business address last of record with the commissioner. (3) When process is served upon the commissioner as a nonresident's process agent, the licensee shall be required to appear, answer, or plead within thirty (30) days after date of the mailing of the copy of the process by the commissioner. (4) Process served upon the commissioner and a copy forwarded shall for all purposes constitute service upon the person licensed.

(1) Duplicate copies of the process shall be served upon the commissioner or upon his or her deputy, assistant, or other person in charge of his or her office during his absence.

(2) Upon receiving the service, the commissioner shall promptly forward a copy of it by registered mail, return receipt requested, to the nonresident licensee at his or her business address last of record with the commissioner.

(3) When process is served upon the commissioner as a nonresident's process agent, the licensee shall be required to appear, answer, or plead within thirty (30) days after date of the mailing of the copy of the process by the commissioner.

(4) Process served upon the commissioner and a copy forwarded shall for all purposes constitute service upon the person licensed.

Acts 1959, No. 148, § 170; A.S.A. 1947, § 66-2827; Acts 1987, No. 622, § 13; 1997, No. 1004, § 1.
Ark. Code Ann. § 23-47-308 — AR Code / Title 23 / Chapter 47 / Subchapter 3 / Section 23-47-308
Setoff
Status: in_force

(a) Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a bank, the bank has a right to setoff against the agency account. (b) The amount of the agency account subject to setoff is the proportion to which the party is, or immediately before death was, beneficially entitled or, in the absence of proof of that proportion, an equal share with all parties. Acts 1997, No. 89, § 1.

(a) Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a bank, the bank has a right to setoff against the agency account.

(b) The amount of the agency account subject to setoff is the proportion to which the party is, or immediately before death was, beneficially entitled or, in the absence of proof of that proportion, an equal share with all parties.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-2-407 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-407
Subpoenas for witnesses - Issuance and service
Status: in_force

Subpoenas for witnesses shall be issued by the secretary, assistant secretary, or any commissioner of the Arkansas Public Service Commission or the Arkansas Department of Transportation and shall be served as provided by law for the service of other subpoenas. Amended by Act 2017, No. 707,§ 100, eff. 8/1/2017. Acts 1945, No. 40, § 2; A.S.A. 1947, § 73-130.

Subpoenas for witnesses shall be issued by the secretary, assistant secretary, or any commissioner of the Arkansas Public Service Commission or the Arkansas Department of Transportation and shall be served as provided by law for the service of other subpoenas.

Amended by Act 2017, No. 707,§ 100, eff. 8/1/2017.

Acts 1945, No. 40, § 2; A.S.A. 1947, § 73-130.
Ark. Code Ann. § 23-79-134 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-134
Exemption of proceeds - Annuity contracts - Assignability of rights
Status: in_force

(a) Benefits, rights, privileges, and options under any annuity or variable annuity contract, which are due or prospectively due the annuitant, shall not be subject to execution, attachment, or garnishment, nor shall the annuitant be compelled to exercise the rights, powers, or options under the contract, nor shall creditors be allowed to interfere with or terminate the contract except: (1) As to amounts paid for any annuity or variable annuity with intent to defraud creditors, including interest thereon, and of which the creditor has given the insurer written notice at its home office prior to the making of payments to the annuitant out of which the creditor seeks to recover. The notice shall specify the amount claimed, or such facts as will enable the insurer to ascertain the amount, and shall set forth such facts as will enable the insurer to ascertain the insurance or annuity contract, the person insured or annuitant, and the payments sought to be avoided on the ground of fraud; and (2) If the total benefits presently due and payable to any annuitant under all annuity contracts under which he or she is an annuitant shall at any time exceed the exemptions granted an annuitant by law, a court of appropriate jurisdiction may order the annuitant to pay to a judgment creditor or apply on the judgment, in installments, such portion of the excess benefits as to the court may appear just and proper, after due regard for the reasonable requirements of the judgment debtor and his or her family, if dependent upon him or her, as well as any payments required to be made by the annuitant to other creditors under prior court orders. (b) If the contract so provides, the benefits, rights, privileges, or options accruing under the contract to a beneficiary or assignee shall not be transferable nor subject to commutation, and, if the benefits are payable periodically or at stated times, the same exemptions and exceptions contained in this section for the annuitant shall apply with respect to the beneficiary or assignee. (c) An "annuity contract" within the meaning of this section shall be any obligation to pay certain sums at stated times, during life or lives, or for a specified term or terms, issued for a valuable consideration, regardless of whether or not the sums are payable to one (1) or more persons jointly or otherwise, but does not include payments under life insurance contracts at stated times during life or lives or for a specified term or terms. (d) A "variable annuity" contract within the meaning of this section shall be any obligation to pay sums at stated times, during life or lives, or for a specified term or terms, issued for a valuable consideration, regardless of whether or not the sums are payable to one (1) or more persons jointly or otherwise, where the sums payable vary directly according to investment experience with respect to the variable annuity contract, but does not include annuity contracts or payments under life insurance contracts at stated times during life or lives, or for a specified term or terms. Acts 1959, No. 148, § 298; 1965, No. 460, § 2; A.S.A. 1947, § 66-3231.

(a) Benefits, rights, privileges, and options under any annuity or variable annuity contract, which are due or prospectively due the annuitant, shall not be subject to execution, attachment, or garnishment, nor shall the annuitant be compelled to exercise the rights, powers, or options under the contract, nor shall creditors be allowed to interfere with or terminate the contract except: (1) As to amounts paid for any annuity or variable annuity with intent to defraud creditors, including interest thereon, and of which the creditor has given the insurer written notice at its home office prior to the making of payments to the annuitant out of which the creditor seeks to recover. The notice shall specify the amount claimed, or such facts as will enable the insurer to ascertain the amount, and shall set forth such facts as will enable the insurer to ascertain the insurance or annuity contract, the person insured or annuitant, and the payments sought to be avoided on the ground of fraud; and (2) If the total benefits presently due and payable to any annuitant under all annuity contracts under which he or she is an annuitant shall at any time exceed the exemptions granted an annuitant by law, a court of appropriate jurisdiction may order the annuitant to pay to a judgment creditor or apply on the judgment, in installments, such portion of the excess benefits as to the court may appear just and proper, after due regard for the reasonable requirements of the judgment debtor and his or her family, if dependent upon him or her, as well as any payments required to be made by the annuitant to other creditors under prior court orders.

(1) As to amounts paid for any annuity or variable annuity with intent to defraud creditors, including interest thereon, and of which the creditor has given the insurer written notice at its home office prior to the making of payments to the annuitant out of which the creditor seeks to recover. The notice shall specify the amount claimed, or such facts as will enable the insurer to ascertain the amount, and shall set forth such facts as will enable the insurer to ascertain the insurance or annuity contract, the person insured or annuitant, and the payments sought to be avoided on the ground of fraud; and

(2) If the total benefits presently due and payable to any annuitant under all annuity contracts under which he or she is an annuitant shall at any time exceed the exemptions granted an annuitant by law, a court of appropriate jurisdiction may order the annuitant to pay to a judgment creditor or apply on the judgment, in installments, such portion of the excess benefits as to the court may appear just and proper, after due regard for the reasonable requirements of the judgment debtor and his or her family, if dependent upon him or her, as well as any payments required to be made by the annuitant to other creditors under prior court orders.

(b) If the contract so provides, the benefits, rights, privileges, or options accruing under the contract to a beneficiary or assignee shall not be transferable nor subject to commutation, and, if the benefits are payable periodically or at stated times, the same exemptions and exceptions contained in this section for the annuitant shall apply with respect to the beneficiary or assignee.

(c) An "annuity contract" within the meaning of this section shall be any obligation to pay certain sums at stated times, during life or lives, or for a specified term or terms, issued for a valuable consideration, regardless of whether or not the sums are payable to one (1) or more persons jointly or otherwise, but does not include payments under life insurance contracts at stated times during life or lives or for a specified term or terms.

(d) A "variable annuity" contract within the meaning of this section shall be any obligation to pay sums at stated times, during life or lives, or for a specified term or terms, issued for a valuable consideration, regardless of whether or not the sums are payable to one (1) or more persons jointly or otherwise, where the sums payable vary directly according to investment experience with respect to the variable annuity contract, but does not include annuity contracts or payments under life insurance contracts at stated times during life or lives, or for a specified term or terms.

Acts 1959, No. 148, § 298; 1965, No. 460, § 2; A.S.A. 1947, § 66-3231.
Ark. Code Ann. § 23-12-404 — AR Code / Title 23 / Chapter 12 / Subchapter 4 / Section 23-12-404
Equipment required on track motor cars
Status: in_force

(a) No railroad company in this state shall use any track motor car for the transportation of its employees unless the motor car is equipped with a windbreaker, a red taillight, and an electric headlight of sufficient brilliancy to distinguish an object the size of a man at a distance of three hundred feet (300'). (b) Any company, corporation, or officer of court owning or operating a railroad of fifty (50) miles in length in whole or in part within this state violating the provisions of this section shall be liable on conviction to a penalty of a fine of not more than five dollars ($5.00) for each separate offense which shall be recovered in a civil action in the name of the state. Acts 1951, No. 253, § 1; A.S.A. 1947, § 73-740.

(a) No railroad company in this state shall use any track motor car for the transportation of its employees unless the motor car is equipped with a windbreaker, a red taillight, and an electric headlight of sufficient brilliancy to distinguish an object the size of a man at a distance of three hundred feet (300').

(b) Any company, corporation, or officer of court owning or operating a railroad of fifty (50) miles in length in whole or in part within this state violating the provisions of this section shall be liable on conviction to a penalty of a fine of not more than five dollars ($5.00) for each separate offense which shall be recovered in a civil action in the name of the state.

Acts 1951, No. 253, § 1; A.S.A. 1947, § 73-740.
Ark. Code Ann. § 23-48-907 — AR Code / Title 23 / Chapter 48 / Subchapter 9 / Section 23-48-907
Examinations - Periodic reports - Cooperative agreements - Fees
Status: in_force

(a) To the extent consistent with subsection (c) of this section, the Bank Commissioner may make such examinations of any branch established and maintained in Arkansas pursuant to this subchapter by an out-of-state state-chartered bank as the commissioner may deem necessary to determine whether the branch is being operated in compliance with the laws of this state and in accordance with safe and sound banking practices. The provisions of the Arkansas Banking Code of 1997 shall apply to such examinations. (b) (1) The commissioner may prescribe requirements for periodic reports regarding any registered out-of-state bank that operates a branch in Arkansas. The required reports shall be provided by the bank. (2) Any reporting requirements prescribed by the commissioner under this subsection shall be consistent with the reporting requirements applicable to state banks and appropriate for the purpose of enabling the commissioner to carry out his or her responsibilities under this subchapter. (c) The commissioner may enter into cooperative, coordinating, and information-sharing agreements with any other bank supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies with respect to the periodic examination or other supervision of any branch in Arkansas of an out-of-state state-chartered bank, or any branch of a state bank in any host state, and the commissioner may accept such parties' reports of examination and reports of investigation in lieu of conducting his or her own examinations or investigations. (d) The commissioner may enter into contracts with any bank supervisory agency that has concurrent jurisdiction over a state bank or an out-of-state state-chartered bank operating a branch in this state pursuant to this subchapter to engage the services of the agency's examiners at a reasonable rate of compensation, or to provide the services of the commissioner's examiners to the agency at a reasonable rate of compensation. Any such contract shall be deemed a sole source contract under § 19-11-232 . (e) The commissioner may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch in Arkansas of an out-of-state state-chartered bank or any branch of a state bank in any host state, provided that the commissioner may at any time take such actions independently if the commissioner deems such actions to be necessary or appropriate to carry out his or her responsibilities under this subchapter or to ensure compliance with the laws of this state, but provided further, that, in the case of an out-of-state state-chartered bank, the commissioner shall recognize the exclusive authority of the home-state regulator over corporate governance matters and the primary responsibility of the home-state regulator with respect to safety and soundness matters. (f) (1) Each out-of-state state-chartered bank that maintains one (1) or more branches in Arkansas may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the Arkansas Banking Code of 1997 and rules of the commissioner. (2) The fees may be shared with other bank supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies in accordance with agreements between the parties and the commissioner. Amended by Act 2019, No. 315,§ 2553, eff. 7/24/2019. Acts 1997, No. 408, § 20.

(a) To the extent consistent with subsection (c) of this section, the Bank Commissioner may make such examinations of any branch established and maintained in Arkansas pursuant to this subchapter by an out-of-state state-chartered bank as the commissioner may deem necessary to determine whether the branch is being operated in compliance with the laws of this state and in accordance with safe and sound banking practices. The provisions of the Arkansas Banking Code of 1997 shall apply to such examinations.

(b) (1) The commissioner may prescribe requirements for periodic reports regarding any registered out-of-state bank that operates a branch in Arkansas. The required reports shall be provided by the bank. (2) Any reporting requirements prescribed by the commissioner under this subsection shall be consistent with the reporting requirements applicable to state banks and appropriate for the purpose of enabling the commissioner to carry out his or her responsibilities under this subchapter.

(1) The commissioner may prescribe requirements for periodic reports regarding any registered out-of-state bank that operates a branch in Arkansas. The required reports shall be provided by the bank.

(2) Any reporting requirements prescribed by the commissioner under this subsection shall be consistent with the reporting requirements applicable to state banks and appropriate for the purpose of enabling the commissioner to carry out his or her responsibilities under this subchapter.

(c) The commissioner may enter into cooperative, coordinating, and information-sharing agreements with any other bank supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies with respect to the periodic examination or other supervision of any branch in Arkansas of an out-of-state state-chartered bank, or any branch of a state bank in any host state, and the commissioner may accept such parties' reports of examination and reports of investigation in lieu of conducting his or her own examinations or investigations.

(d) The commissioner may enter into contracts with any bank supervisory agency that has concurrent jurisdiction over a state bank or an out-of-state state-chartered bank operating a branch in this state pursuant to this subchapter to engage the services of the agency's examiners at a reasonable rate of compensation, or to provide the services of the commissioner's examiners to the agency at a reasonable rate of compensation. Any such contract shall be deemed a sole source contract under § 19-11-232 .

(e) The commissioner may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch in Arkansas of an out-of-state state-chartered bank or any branch of a state bank in any host state, provided that the commissioner may at any time take such actions independently if the commissioner deems such actions to be necessary or appropriate to carry out his or her responsibilities under this subchapter or to ensure compliance with the laws of this state, but provided further, that, in the case of an out-of-state state-chartered bank, the commissioner shall recognize the exclusive authority of the home-state regulator over corporate governance matters and the primary responsibility of the home-state regulator with respect to safety and soundness matters.

(f) (1) Each out-of-state state-chartered bank that maintains one (1) or more branches in Arkansas may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the Arkansas Banking Code of 1997 and rules of the commissioner. (2) The fees may be shared with other bank supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies in accordance with agreements between the parties and the commissioner.

(1) Each out-of-state state-chartered bank that maintains one (1) or more branches in Arkansas may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the Arkansas Banking Code of 1997 and rules of the commissioner.

(2) The fees may be shared with other bank supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies in accordance with agreements between the parties and the commissioner.

Amended by Act 2019, No. 315,§ 2553, eff. 7/24/2019.

Acts 1997, No. 408, § 20.
Ark. Code Ann. § 23-88-209 — AR Code / Title 23 / Chapter 88 / Subchapter 2 / Section 23-88-209
Alternative applications
Status: in_force

(a) The Insurance Commissioner may not mandate the use of any applications other than the antiarson application as defined in § 23-88-202 . However, the commissioner may mandate alternative antiarson applications pursuant to a finding after a public hearing that: (1) There exist certain types of policies, certain classes of property, and certain geographic areas of the state which have abnormally high incidences of arson; (2) The antiarson application described in §§ 23-88-202 , 23-88-203 , 23-88-205 , and 23-88-206 was implemented as respects such types of insurance policies, such classes of property, and areas of the state pursuant to the provisions of this subchapter; and (3) The use of the antiarson application pursuant to this subchapter failed to substantially decrease the arson problems for those types of insurance policies, classes of property, and geographic areas. (b) Alternative antiarson applications may be mandated only for the types of insurance policies, types of occupancies, and the areas of the state which would be permissible subjects for the antiarson application authorized by this subchapter. Acts 1983, No. 359, § 4; A.S.A. 1947, § 66-5609.

(a) The Insurance Commissioner may not mandate the use of any applications other than the antiarson application as defined in § 23-88-202 . However, the commissioner may mandate alternative antiarson applications pursuant to a finding after a public hearing that: (1) There exist certain types of policies, certain classes of property, and certain geographic areas of the state which have abnormally high incidences of arson; (2) The antiarson application described in §§ 23-88-202 , 23-88-203 , 23-88-205 , and 23-88-206 was implemented as respects such types of insurance policies, such classes of property, and areas of the state pursuant to the provisions of this subchapter; and (3) The use of the antiarson application pursuant to this subchapter failed to substantially decrease the arson problems for those types of insurance policies, classes of property, and geographic areas.

(1) There exist certain types of policies, certain classes of property, and certain geographic areas of the state which have abnormally high incidences of arson;

(2) The antiarson application described in §§ 23-88-202 , 23-88-203 , 23-88-205 , and 23-88-206 was implemented as respects such types of insurance policies, such classes of property, and areas of the state pursuant to the provisions of this subchapter; and

(3) The use of the antiarson application pursuant to this subchapter failed to substantially decrease the arson problems for those types of insurance policies, classes of property, and geographic areas.

(b) Alternative antiarson applications may be mandated only for the types of insurance policies, types of occupancies, and the areas of the state which would be permissible subjects for the antiarson application authorized by this subchapter.

Acts 1983, No. 359, § 4; A.S.A. 1947, § 66-5609.
Ark. Code Ann. § 23-12-101 — AR Code / Title 23 / Chapter 12 / Subchapter 1 / Section 23-12-101
Sections 23-12-101 - 23-12-103 cumulative
Status: in_force

The provisions of this section and §§ 23-12-102 and 23-12-103 shall be regarded as cumulative, and nothing therein shall be so construed as to repeal any other act now in force, nor to in any way curtail or limit the powers and duties of the Arkansas Department of Transportation. Amended by Act 2017, No. 707,§ 169, eff. 8/1/2017. Acts 1909, No. 163, § 2, p. 502; A.S.A. 1947, § 73-613n.

The provisions of this section and §§ 23-12-102 and 23-12-103 shall be regarded as cumulative, and nothing therein shall be so construed as to repeal any other act now in force, nor to in any way curtail or limit the powers and duties of the Arkansas Department of Transportation.

Amended by Act 2017, No. 707,§ 169, eff. 8/1/2017.

Acts 1909, No. 163, § 2, p. 502; A.S.A. 1947, § 73-613n.
Ark. Code Ann. § 23-115-504 — AR Code / Title 23 / Chapter 115 / Subchapter 5 / Section 23-115-504
Political contributions by vendors - Legislative findings
Status: in_force

(a) The General Assembly finds: (1) That the integrity of the Office of the Arkansas Lottery and the Arkansas Scholarship Lottery is of utmost importance; and (2) That the people of the State of Arkansas should have confidence and be assured that public officials are free of any improper political influence by vendors. (b) A vendor awarded a major procurement contract for lottery equipment or tickets or an officer, employee, or agent of a vendor awarded a major procurement contract for lottery equipment or tickets shall not make a political contribution to a public official or a candidate for election as a public official. (c) A vendor proposing to provide goods or services under a major procurement contract or an officer, employee, or agent of a vendor proposing to provide goods or services under a major procurement contract shall not make or promise to make a political contribution or future political contribution to a public official or a candidate for election as a public official while the award of the major procurement contract is pending. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 41.

(a) The General Assembly finds: (1) That the integrity of the Office of the Arkansas Lottery and the Arkansas Scholarship Lottery is of utmost importance; and (2) That the people of the State of Arkansas should have confidence and be assured that public officials are free of any improper political influence by vendors.

(1) That the integrity of the Office of the Arkansas Lottery and the Arkansas Scholarship Lottery is of utmost importance; and

(2) That the people of the State of Arkansas should have confidence and be assured that public officials are free of any improper political influence by vendors.

(b) A vendor awarded a major procurement contract for lottery equipment or tickets or an officer, employee, or agent of a vendor awarded a major procurement contract for lottery equipment or tickets shall not make a political contribution to a public official or a candidate for election as a public official.

(c) A vendor proposing to provide goods or services under a major procurement contract or an officer, employee, or agent of a vendor proposing to provide goods or services under a major procurement contract shall not make or promise to make a political contribution or future political contribution to a public official or a candidate for election as a public official while the award of the major procurement contract is pending.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 41.
Ark. Code Ann. § 23-51-161 — AR Code / Title 23 / Chapter 51 / Section 23-51-161
Sale or transfer of property
Status: in_force

Upon the approval of the Bank Commissioner, any state trust company may sell and transfer to any other trust institution, whether state or federally chartered, all of its assets of every kind upon such terms as may be agreed upon and approved by the commissioner and by a majority vote of its board of directors. A certified copy of the minutes of any meeting at which such an action is taken, attested by an officer of the trust company, together with a copy of the contract of sale and transfer, shall be filed with the commissioner. Whenever voluntary liquidation shall be approved by the commissioner or the sale and transfer of the assets of any state trust company shall be approved by the commissioner, the charter of the state trust company shall be canceled, subject, however, to its continued existence, as provided by this chapter and the general law relative to corporations. Acts 1997, No. 940, § 61.

Upon the approval of the Bank Commissioner, any state trust company may sell and transfer to any other trust institution, whether state or federally chartered, all of its assets of every kind upon such terms as may be agreed upon and approved by the commissioner and by a majority vote of its board of directors. A certified copy of the minutes of any meeting at which such an action is taken, attested by an officer of the trust company, together with a copy of the contract of sale and transfer, shall be filed with the commissioner. Whenever voluntary liquidation shall be approved by the commissioner or the sale and transfer of the assets of any state trust company shall be approved by the commissioner, the charter of the state trust company shall be canceled, subject, however, to its continued existence, as provided by this chapter and the general law relative to corporations.

Acts 1997, No. 940, § 61.
Ark. Code Ann. § 23-17-415 — AR Code / Title 23 / Chapter 17 / Subchapter 4 / Section 23-17-415
Reporting of originating intrastate interexchange telephone numbers
Status: in_force

(a) Where technically feasible, any telecommunications provider whose customer originates or forwards an intrastate interexchange message to be terminated over the public switched telecommunications network in Arkansas shall transmit the jurisdictionally appropriate telephone number of the originating party sending the message to the terminating telecommunications provider. (b) (1) The Arkansas Public Service Commission shall investigate complaints alleging violations of this section filed under § 23-3-119 and may obtain sufficient information to determine the correct jurisdiction of any message associated with alleged violations of this section. (2) If the commission determines that the jurisdictionally appropriate telephone number has not been transmitted as required by this section, the telecommunications provider against whom the complaint was filed shall demonstrate that it had a legitimate business purpose for not transmitting the jurisdictionally appropriate telephone number or that it was technically infeasible for the provider to transmit the number. (c) (1) If the commission determines that a telecommunications provider has violated this section, the commission shall determine the amount of underpayment to any telecommunications provider as a result of the violation and shall order the violating telecommunications provider to make payment under the applicable tariff or interconnection agreement, including any penalties specified therein. (2) If no penalties are specified under either the applicable tariffs or interconnection agreements, the commission shall assess a civil sanction against the violating telecommunications provider consistent with state law. Acts 2003, No. 1766, § 1.

(a) Where technically feasible, any telecommunications provider whose customer originates or forwards an intrastate interexchange message to be terminated over the public switched telecommunications network in Arkansas shall transmit the jurisdictionally appropriate telephone number of the originating party sending the message to the terminating telecommunications provider.

(b) (1) The Arkansas Public Service Commission shall investigate complaints alleging violations of this section filed under § 23-3-119 and may obtain sufficient information to determine the correct jurisdiction of any message associated with alleged violations of this section. (2) If the commission determines that the jurisdictionally appropriate telephone number has not been transmitted as required by this section, the telecommunications provider against whom the complaint was filed shall demonstrate that it had a legitimate business purpose for not transmitting the jurisdictionally appropriate telephone number or that it was technically infeasible for the provider to transmit the number.

(1) The Arkansas Public Service Commission shall investigate complaints alleging violations of this section filed under § 23-3-119 and may obtain sufficient information to determine the correct jurisdiction of any message associated with alleged violations of this section.

(2) If the commission determines that the jurisdictionally appropriate telephone number has not been transmitted as required by this section, the telecommunications provider against whom the complaint was filed shall demonstrate that it had a legitimate business purpose for not transmitting the jurisdictionally appropriate telephone number or that it was technically infeasible for the provider to transmit the number.

(c) (1) If the commission determines that a telecommunications provider has violated this section, the commission shall determine the amount of underpayment to any telecommunications provider as a result of the violation and shall order the violating telecommunications provider to make payment under the applicable tariff or interconnection agreement, including any penalties specified therein. (2) If no penalties are specified under either the applicable tariffs or interconnection agreements, the commission shall assess a civil sanction against the violating telecommunications provider consistent with state law.

(1) If the commission determines that a telecommunications provider has violated this section, the commission shall determine the amount of underpayment to any telecommunications provider as a result of the violation and shall order the violating telecommunications provider to make payment under the applicable tariff or interconnection agreement, including any penalties specified therein.

(2) If no penalties are specified under either the applicable tariffs or interconnection agreements, the commission shall assess a civil sanction against the violating telecommunications provider consistent with state law.

Acts 2003, No. 1766, § 1.
Ark. Code Ann. § 23-97-315 — AR Code / Title 23 / Chapter 97 / Subchapter 3 / Section 23-97-315
Acceleration of death benefit
Status: in_force

(a) Any time a long-term care benefit funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status, a monthly report shall be provided to the policyholder. (b) The report shall include: (1) Any long-term care benefits paid out during the month; (2) An explanation of any changes in the policy, including, but not limited to, death benefits or cash values, due to the payment of long-term care benefits; and (3) The remaining amount of long-term care benefits. Acts 2005, No. 1697, § 31.

(a) Any time a long-term care benefit funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status, a monthly report shall be provided to the policyholder.

(b) The report shall include: (1) Any long-term care benefits paid out during the month; (2) An explanation of any changes in the policy, including, but not limited to, death benefits or cash values, due to the payment of long-term care benefits; and (3) The remaining amount of long-term care benefits.

(1) Any long-term care benefits paid out during the month;

(2) An explanation of any changes in the policy, including, but not limited to, death benefits or cash values, due to the payment of long-term care benefits; and

(3) The remaining amount of long-term care benefits.

Acts 2005, No. 1697, § 31.
Ark. Code Ann. § 23-16-103 — AR Code / Title 23 / Chapter 16 / Subchapter 1 / Section 23-16-103
Annual certified statement of gross revenue
Status: in_force

(a) (1) Annually, during the month of March, every rail carrier and other carrier subject to regulation by the Arkansas Department of Transportation under the laws of Arkansas shall prepare and transmit to the department a certified statement of the gross revenues from its operations in Arkansas for the preceding calendar year ending December 31. (2) No deduction shall be made from such gross revenues on account of any payments, expenses, or uncollectible accounts, except refunds occasioned by errors or overcharges. (b) Upon receipt of the certified statement, the department shall determine the total gross revenues in Arkansas of each and all of the rail carriers and the total gross revenues in Arkansas of each and all of the other carriers. Amended by Act 2017, No. 707,§ 258, eff. 8/1/2017. Acts 1949, No. 262, § 3; A.S.A. 1947, § 73-270.

(a) (1) Annually, during the month of March, every rail carrier and other carrier subject to regulation by the Arkansas Department of Transportation under the laws of Arkansas shall prepare and transmit to the department a certified statement of the gross revenues from its operations in Arkansas for the preceding calendar year ending December 31. (2) No deduction shall be made from such gross revenues on account of any payments, expenses, or uncollectible accounts, except refunds occasioned by errors or overcharges.

(1) Annually, during the month of March, every rail carrier and other carrier subject to regulation by the Arkansas Department of Transportation under the laws of Arkansas shall prepare and transmit to the department a certified statement of the gross revenues from its operations in Arkansas for the preceding calendar year ending December 31.

(2) No deduction shall be made from such gross revenues on account of any payments, expenses, or uncollectible accounts, except refunds occasioned by errors or overcharges.

(b) Upon receipt of the certified statement, the department shall determine the total gross revenues in Arkansas of each and all of the rail carriers and the total gross revenues in Arkansas of each and all of the other carriers.

Amended by Act 2017, No. 707,§ 258, eff. 8/1/2017.

Acts 1949, No. 262, § 3; A.S.A. 1947, § 73-270.
Ark. Code Ann. § 23-51-101 — AR Code / Title 23 / Chapter 51 / Section 23-51-101
Title
Status: in_force

This chapter may be cited as the "Arkansas Trust Institutions Act". Acts 1997, No. 940, § 1.

This chapter may be cited as the "Arkansas Trust Institutions Act".

Acts 1997, No. 940, § 1.
Ark. Code Ann. § 23-89-304 — AR Code / Title 23 / Chapter 89 / Subchapter 3 / Section 23-89-304
Time for notice of cancellation
Status: in_force

(a) (1) No notice of cancellation of a policy to which § 23-89-303 applies and no notice of cancellation of a policy which has been in effect less than sixty (60) days at the time notice of cancellation is mailed or delivered shall be effective unless mailed or delivered by the insurer to the named insured. (2) No notice of cancellation to any named insured shall be effective unless mailed or delivered at least twenty (20) days prior to the effective date of cancellation, provided that when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason therefor shall be given. (b) No notice of cancellation to any person or entity shown on the policy and having a lien on the insured's automobile shall be effective unless mailed or delivered by the insurer: (1) To the person or entity; and (2) (A) At least twenty (20) days prior to the termination of the insurance protecting the interest of the person or entity. (B) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason for the cancellation shall be given. (c) Failure to properly notify a named insured or failure to properly notify a person or entity shown on the policy and having a lien on the insured's automobile shall have no effect on a party properly notified. (d) This section shall not apply to nonrenewals. Acts 1969, No. 333, § 3; 1973, No. 66, § 10; 1975, No. 528, § 1; A.S.A. 1947, § 66-4009; Acts 1989, No. 675, § 1; 2007, No. 127, § 1.

(a) (1) No notice of cancellation of a policy to which § 23-89-303 applies and no notice of cancellation of a policy which has been in effect less than sixty (60) days at the time notice of cancellation is mailed or delivered shall be effective unless mailed or delivered by the insurer to the named insured. (2) No notice of cancellation to any named insured shall be effective unless mailed or delivered at least twenty (20) days prior to the effective date of cancellation, provided that when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason therefor shall be given.

(1) No notice of cancellation of a policy to which § 23-89-303 applies and no notice of cancellation of a policy which has been in effect less than sixty (60) days at the time notice of cancellation is mailed or delivered shall be effective unless mailed or delivered by the insurer to the named insured.

(2) No notice of cancellation to any named insured shall be effective unless mailed or delivered at least twenty (20) days prior to the effective date of cancellation, provided that when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason therefor shall be given.

(b) No notice of cancellation to any person or entity shown on the policy and having a lien on the insured's automobile shall be effective unless mailed or delivered by the insurer: (1) To the person or entity; and (2) (A) At least twenty (20) days prior to the termination of the insurance protecting the interest of the person or entity. (B) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason for the cancellation shall be given.

(1) To the person or entity; and

(2) (A) At least twenty (20) days prior to the termination of the insurance protecting the interest of the person or entity. (B) However, when cancellation is for nonpayment of premium, at least ten (10) days' notice of cancellation accompanied by the reason for the cancellation shall be given.

(A) At least twenty (20) days prior to the termination of the insurance protecting the interest of the person or entity.

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

(c) Failure to properly notify a named insured or failure to properly notify a person or entity shown on the policy and having a lien on the insured's automobile shall have no effect on a party properly notified.

(d) This section shall not apply to nonrenewals.

Acts 1969, No. 333, § 3; 1973, No. 66, § 10; 1975, No. 528, § 1; A.S.A. 1947, § 66-4009; Acts 1989, No. 675, § 1; 2007, No. 127, § 1.
Ark. Code Ann. § 23-10-438 — AR Code / Title 23 / Chapter 10 / Subchapter 4 / Section 23-10-438
Perishable freight - Duty to furnish cars - Exceptions - Penalty
Status: in_force

(a) (1) When a shipper makes a written application to a station agent of a railroad company doing business in this state for cars, to be loaded with any kind of perishable freight such as fruit and vegetables, embraced in the tariff of the company, stating the character of the freight, the kind of cars wanted, and the final destination of the freight, the railroad company shall furnish cars, in the kind and quantity ordered, at the place of shipment, within twenty-four (24) hours from 7:00 p.m. on the day following the application. (2) If refrigerator cars are ordered, they shall be furnished with bunkers well filled with ice, if so ordered by the shipper. (3) When a future date is designated by the shipper on which he or she desires to make a shipment, giving not less than twenty-four (24) hours' notice, computing from 7:00 a.m. on the day following the application, the railroad company shall furnish cars on the day specified in the application. The station agent shall then give the party making the application a receipt showing the date of requisition, the number of cars, and the date the cars are to be furnished. (b) For failure to comply with this section, the railroad companies so offending shall forfeit and pay to the shipper making the application, upon a claim being made in writing, duly verified as to amount of loss, double the damages he or she may have sustained by reason of the failure of the railroad companies to comply with this section and §§ 23-10-404 , 23-10-439 , and 23-10-440 . (c) (1) This section shall not apply to railroads which are not public carriers. (2) This section shall not apply in cases of strikes, wrecks that would hinder delivery of cars at the times and in the manner specified in this section, sudden congestion in traffic, washouts, and other sudden public calamities over which the railroad companies can exercise no control, but the burden shall be on the railroad company to prove the existence of any of these facts in justification of their failure to comply with this section. Acts 1909, No. 233, § 1, p. 698; C. & M. Dig., § 931; Pope's Dig., § 1135; A.S.A. 1947, § 73-1331.

(a) (1) When a shipper makes a written application to a station agent of a railroad company doing business in this state for cars, to be loaded with any kind of perishable freight such as fruit and vegetables, embraced in the tariff of the company, stating the character of the freight, the kind of cars wanted, and the final destination of the freight, the railroad company shall furnish cars, in the kind and quantity ordered, at the place of shipment, within twenty-four (24) hours from 7:00 p.m. on the day following the application. (2) If refrigerator cars are ordered, they shall be furnished with bunkers well filled with ice, if so ordered by the shipper. (3) When a future date is designated by the shipper on which he or she desires to make a shipment, giving not less than twenty-four (24) hours' notice, computing from 7:00 a.m. on the day following the application, the railroad company shall furnish cars on the day specified in the application. The station agent shall then give the party making the application a receipt showing the date of requisition, the number of cars, and the date the cars are to be furnished.

(1) When a shipper makes a written application to a station agent of a railroad company doing business in this state for cars, to be loaded with any kind of perishable freight such as fruit and vegetables, embraced in the tariff of the company, stating the character of the freight, the kind of cars wanted, and the final destination of the freight, the railroad company shall furnish cars, in the kind and quantity ordered, at the place of shipment, within twenty-four (24) hours from 7:00 p.m. on the day following the application.

(2) If refrigerator cars are ordered, they shall be furnished with bunkers well filled with ice, if so ordered by the shipper.

(3) When a future date is designated by the shipper on which he or she desires to make a shipment, giving not less than twenty-four (24) hours' notice, computing from 7:00 a.m. on the day following the application, the railroad company shall furnish cars on the day specified in the application. The station agent shall then give the party making the application a receipt showing the date of requisition, the number of cars, and the date the cars are to be furnished.

(b) For failure to comply with this section, the railroad companies so offending shall forfeit and pay to the shipper making the application, upon a claim being made in writing, duly verified as to amount of loss, double the damages he or she may have sustained by reason of the failure of the railroad companies to comply with this section and §§ 23-10-404 , 23-10-439 , and 23-10-440 .

(c) (1) This section shall not apply to railroads which are not public carriers. (2) This section shall not apply in cases of strikes, wrecks that would hinder delivery of cars at the times and in the manner specified in this section, sudden congestion in traffic, washouts, and other sudden public calamities over which the railroad companies can exercise no control, but the burden shall be on the railroad company to prove the existence of any of these facts in justification of their failure to comply with this section.

(1) This section shall not apply to railroads which are not public carriers.

(2) This section shall not apply in cases of strikes, wrecks that would hinder delivery of cars at the times and in the manner specified in this section, sudden congestion in traffic, washouts, and other sudden public calamities over which the railroad companies can exercise no control, but the burden shall be on the railroad company to prove the existence of any of these facts in justification of their failure to comply with this section.

Acts 1909, No. 233, § 1, p. 698; C. & M. Dig., § 931; Pope's Dig., § 1135; A.S.A. 1947, § 73-1331.
Ark. Code Ann. § 23-88-502 — AR Code / Title 23 / Chapter 88 / Subchapter 5 / Section 23-88-502
Licensure of vendors
Status: in_force

(a) A vendor is required to hold a limited lines license to sell or offer coverage under a portable electronics insurance policy. (b) A limited lines license issued under this subchapter shall authorize an employee or authorized representative of the licensee to sell or offer coverage under a policy of portable electronics insurance to a customer at locations the vendor engages in the business of portable electronics transactions. (c) A supervising entity shall: (1) Maintain a registry of vendor locations that are authorized to offer coverage for portable electronics in this state; and (2) Produce the registry for inspection and examination during its regular business hours upon receipt of a ten-day notice from the Insurance Commissioner. (d) A license issued under this subchapter authorizes the licensee and its employees or authorized representatives to engage in the activities authorized by this subchapter. Amended by Act 2013, No. 340,§ 1, eff. 8/16/2013. Acts 2011, No. 1018, § 1.

(a) A vendor is required to hold a limited lines license to sell or offer coverage under a portable electronics insurance policy.

(b) A limited lines license issued under this subchapter shall authorize an employee or authorized representative of the licensee to sell or offer coverage under a policy of portable electronics insurance to a customer at locations the vendor engages in the business of portable electronics transactions.

(c) A supervising entity shall: (1) Maintain a registry of vendor locations that are authorized to offer coverage for portable electronics in this state; and (2) Produce the registry for inspection and examination during its regular business hours upon receipt of a ten-day notice from the Insurance Commissioner.

(1) Maintain a registry of vendor locations that are authorized to offer coverage for portable electronics in this state; and

(2) Produce the registry for inspection and examination during its regular business hours upon receipt of a ten-day notice from the Insurance Commissioner.

(d) A license issued under this subchapter authorizes the licensee and its employees or authorized representatives to engage in the activities authorized by this subchapter.

Amended by Act 2013, No. 340,§ 1, eff. 8/16/2013.

Acts 2011, No. 1018, § 1.
Ark. Code Ann. § 23-61-910 — AR Code / Title 23 / Chapter 61 / Subchapter 9 / Section 23-61-910
Data collected regarding hospital discharge and emergency department records
Status: in_force

(a) The Department of Health shall submit data collected regarding hospital discharge and emergency department records for the uninsured, birth and death records, and disease registry data under the State Health Data Clearinghouse Act, § 20-7-301 et seq., § 20-15-201 et seq., and § 20-18-201 , to the Arkansas Healthcare Transparency Initiative Board for integration into the Arkansas Healthcare Transparency Initiative database created under § 23-61-904 . (b) The data submitted under subsection (a) of this section: (1) Shall be assigned a unique identifier as defined in § 23-61-903 ; and (2) May be used in accordance with the purposes of the Arkansas Healthcare Transparency Initiative and the rules promulgated under this subchapter. Added by Act 2017, No. 979,§ 5, eff. 8/1/2017.

(a) The Department of Health shall submit data collected regarding hospital discharge and emergency department records for the uninsured, birth and death records, and disease registry data under the State Health Data Clearinghouse Act, § 20-7-301 et seq., § 20-15-201 et seq., and § 20-18-201 , to the Arkansas Healthcare Transparency Initiative Board for integration into the Arkansas Healthcare Transparency Initiative database created under § 23-61-904 .

(b) The data submitted under subsection (a) of this section: (1) Shall be assigned a unique identifier as defined in § 23-61-903 ; and (2) May be used in accordance with the purposes of the Arkansas Healthcare Transparency Initiative and the rules promulgated under this subchapter.

(1) Shall be assigned a unique identifier as defined in § 23-61-903 ; and

(2) May be used in accordance with the purposes of the Arkansas Healthcare Transparency Initiative and the rules promulgated under this subchapter.

Added by Act 2017, No. 979,§ 5, eff. 8/1/2017.
Ark. Code Ann. § 23-91-226 — AR Code / Title 23 / Chapter 91 / Subchapter 2 / Section 23-91-226
[Repealed]
Status: repealed

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023. Acts 1977, No. 368, § 19; A.S.A. 1947, § 66-5419; Acts 1987, No. 456, § 28; 1987, No. 1033, § 4.

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023.

Acts 1977, No. 368, § 19; A.S.A. 1947, § 66-5419; Acts 1987, No. 456, § 28; 1987, No. 1033, § 4.
Ark. Code Ann. § 23-69-143 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-143
Mergers and consolidations - Mutual insurers
Status: in_force

(a) A domestic mutual insurer may merge or consolidate with another mutual or stock insurer under the applicable procedures prescribed by § 23-69-144 , except as provided in this section. (b) The plan and agreement for merger or consolidation shall be submitted to and approved by at least two-thirds (2/3) of the members of each mutual insurer involved voting thereon at meetings called for the purpose pursuant to such reasonable notice and procedure as has been approved by the Insurance Commissioner. If a life insurer, the right to vote may be limited to members whose policies are other than term and group policies and have been in effect for more than one (1) year. (c) No merger or consolidation shall be effectuated unless in advance thereof the plan and agreement therefor have been filed with the commissioner and approved by him or her in writing after a hearing thereon. The commissioner shall give approval within a reasonable time after the filing unless he or she finds such a plan or agreement: (1) Is inequitable to the policyholders of any domestic insurer involved; or (2) Would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer in this state and elsewhere. (d) If it is proposed to merge or consolidate a mutual insurer into or with a stock insurer, the provisions of § 23-69-141 , referring to converting a mutual insurer, shall apply as to the rights and equities of the members of the mutual insurer to the fullest extent deemed by the commissioner to be feasible and reasonable. (e) If the commissioner does not approve the plan or agreement, he or she shall so notify the insurers in writing specifying his or her reasons therefor. (f) Section 23-69-142(f) shall also apply as to mergers and consolidations of the mutual insurers. (g) With regard to proposed transactions affecting an affiliate or subsidiary of a depository institution, the hearing shall be concluded and the order issued within the sixty-day period preceding the effective date of the transaction, and these orders shall be final upon entry, pursuant to federal law. Further, any restoration of capital, surplus, or special surplus required for approval of the transaction affecting the depository institution's affiliate or subsidiary shall also be accomplished within the same sixty-day period. (h) This section shall not apply to formations of, or insurer conversions to, domestic mutual holding companies under other provisions of the Arkansas Insurance Code. Acts 1959, No. 148, § 498; A.S.A. 1947, § 66-4246; Acts 2001, No. 1604, § 63.

(a) A domestic mutual insurer may merge or consolidate with another mutual or stock insurer under the applicable procedures prescribed by § 23-69-144 , except as provided in this section.

(b) The plan and agreement for merger or consolidation shall be submitted to and approved by at least two-thirds (2/3) of the members of each mutual insurer involved voting thereon at meetings called for the purpose pursuant to such reasonable notice and procedure as has been approved by the Insurance Commissioner. If a life insurer, the right to vote may be limited to members whose policies are other than term and group policies and have been in effect for more than one (1) year.

(c) No merger or consolidation shall be effectuated unless in advance thereof the plan and agreement therefor have been filed with the commissioner and approved by him or her in writing after a hearing thereon. The commissioner shall give approval within a reasonable time after the filing unless he or she finds such a plan or agreement: (1) Is inequitable to the policyholders of any domestic insurer involved; or (2) Would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer in this state and elsewhere.

(1) Is inequitable to the policyholders of any domestic insurer involved; or

(2) Would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer in this state and elsewhere.

(d) If it is proposed to merge or consolidate a mutual insurer into or with a stock insurer, the provisions of § 23-69-141 , referring to converting a mutual insurer, shall apply as to the rights and equities of the members of the mutual insurer to the fullest extent deemed by the commissioner to be feasible and reasonable.

(e) If the commissioner does not approve the plan or agreement, he or she shall so notify the insurers in writing specifying his or her reasons therefor.

(f) Section 23-69-142(f) shall also apply as to mergers and consolidations of the mutual insurers.

(g) With regard to proposed transactions affecting an affiliate or subsidiary of a depository institution, the hearing shall be concluded and the order issued within the sixty-day period preceding the effective date of the transaction, and these orders shall be final upon entry, pursuant to federal law. Further, any restoration of capital, surplus, or special surplus required for approval of the transaction affecting the depository institution's affiliate or subsidiary shall also be accomplished within the same sixty-day period.

(h) This section shall not apply to formations of, or insurer conversions to, domestic mutual holding companies under other provisions of the Arkansas Insurance Code.

Acts 1959, No. 148, § 498; A.S.A. 1947, § 66-4246; Acts 2001, No. 1604, § 63.
Ark. Code Ann. § 23-69-154 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-154
Voluntary dissolution - Distribution of assets to stockholders
Status: in_force

(a) The trustees in dissolution of a domestic stock insurer under § 23-69-151 , after payment of all special and general liens upon the funds of the corporation to the extent of their lawful priority, shall pay the other debts due from the corporation. (b) After allowing for such expenses of distribution as may be reasonable, the trustees shall distribute the remaining assets of the corporation among its stockholders as entitled thereto. Acts 1959, No. 148, § 507; A.S.A. 1947, § 66-4255.

(a) The trustees in dissolution of a domestic stock insurer under § 23-69-151 , after payment of all special and general liens upon the funds of the corporation to the extent of their lawful priority, shall pay the other debts due from the corporation.

(b) After allowing for such expenses of distribution as may be reasonable, the trustees shall distribute the remaining assets of the corporation among its stockholders as entitled thereto.

Acts 1959, No. 148, § 507; A.S.A. 1947, § 66-4255.
Ark. Code Ann. § 23-11-404 — AR Code / Title 23 / Chapter 11 / Subchapter 4 / Section 23-11-404
Right to tax uncurtailed
Status: in_force

Nothing in §§ 23-11-302 , 23-11-401 , and 23-11-402 shall be held or construed as curtailing the right of state or counties through which a consolidated, leased, or purchased road may be located to levy and collect taxes upon the road and the rolling stock thereof, pro rata, in conformity with the provisions of the laws of this state upon that subject. Acts 1889, No. 34, § 2, p. 43; C. & M. Dig., § 8511; Pope's Dig., § 11087; A.S.A. 1947, § 73-424.

Nothing in §§ 23-11-302 , 23-11-401 , and 23-11-402 shall be held or construed as curtailing the right of state or counties through which a consolidated, leased, or purchased road may be located to levy and collect taxes upon the road and the rolling stock thereof, pro rata, in conformity with the provisions of the laws of this state upon that subject.

Acts 1889, No. 34, § 2, p. 43; C. & M. Dig., § 8511; Pope's Dig., § 11087; A.S.A. 1947, § 73-424.
Ark. Code Ann. § 23-61-602 — AR Code / Title 23 / Chapter 61 / Subchapter 6 / Section 23-61-602
Purpose
Status: in_force

(a) It is the purpose of this subchapter to reduce the cost to the state of insurance coverage, including surety bonds, by establishing the Risk Management Division. (b) It is also the purpose of this subchapter that the division analyze and make recommendations as to cost-effective loss control and safety programs for the various state agencies. (c) It is also the purpose of this subchapter to authorize the division to advise and give assistance to municipalities, counties, school districts, and improvement districts as to the procurement of insurance coverage and other risk management techniques. Acts 1981, No. 272, § 1; A.S.A. 1947, § 66-5701.

(a) It is the purpose of this subchapter to reduce the cost to the state of insurance coverage, including surety bonds, by establishing the Risk Management Division.

(b) It is also the purpose of this subchapter that the division analyze and make recommendations as to cost-effective loss control and safety programs for the various state agencies.

(c) It is also the purpose of this subchapter to authorize the division to advise and give assistance to municipalities, counties, school districts, and improvement districts as to the procurement of insurance coverage and other risk management techniques.

Acts 1981, No. 272, § 1; A.S.A. 1947, § 66-5701.
Ark. Code Ann. § 23-3-501 — AR Code / Title 23 / Chapter 3 / Subchapter 5 / Section 23-3-501
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Commission" means the Arkansas Public Service Commission or any other state agency which may succeed to its powers; (2) "Navigable water crossing" means: (A) The crossing of a navigable waterway by a public service facility; or (B) That portion of the public service facility which is extended over, under, or across a navigable waterway, whether such a crossing is effected by suspending the public service facility from any overhead structure or by laying the public service facility upon or under the bed of the navigable waterway; (3) "Navigable waterway" means any navigable river, lake, or other body of water used, or susceptible of being used in its natural condition as highways for commerce, located wholly or partly within this state; (4) "Public service facility" means any of the following: (A) Electric power line; (B) Pipeline for the transportation of water; or (C) Pipeline for the transportation of gas, petroleum, gasoline, fuel, or any other substance capable of being moved through a pipeline as a common carrier or as a noncarrier utility; and (5) "River crossing proprietor" means the owner, whether a person, a corporation, a company, a firm, partnership, or other association, that owns or proposes to construct a navigable water crossing. Acts 1961, No. 188, § 1; A.S.A. 1947, § 73-2201.

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

(1) "Commission" means the Arkansas Public Service Commission or any other state agency which may succeed to its powers;

(2) "Navigable water crossing" means: (A) The crossing of a navigable waterway by a public service facility; or (B) That portion of the public service facility which is extended over, under, or across a navigable waterway, whether such a crossing is effected by suspending the public service facility from any overhead structure or by laying the public service facility upon or under the bed of the navigable waterway;

(A) The crossing of a navigable waterway by a public service facility; or

(B) That portion of the public service facility which is extended over, under, or across a navigable waterway, whether such a crossing is effected by suspending the public service facility from any overhead structure or by laying the public service facility upon or under the bed of the navigable waterway;

(3) "Navigable waterway" means any navigable river, lake, or other body of water used, or susceptible of being used in its natural condition as highways for commerce, located wholly or partly within this state;

(4) "Public service facility" means any of the following: (A) Electric power line; (B) Pipeline for the transportation of water; or (C) Pipeline for the transportation of gas, petroleum, gasoline, fuel, or any other substance capable of being moved through a pipeline as a common carrier or as a noncarrier utility; and

(A) Electric power line;

(B) Pipeline for the transportation of water; or

(C) Pipeline for the transportation of gas, petroleum, gasoline, fuel, or any other substance capable of being moved through a pipeline as a common carrier or as a noncarrier utility; and

(5) "River crossing proprietor" means the owner, whether a person, a corporation, a company, a firm, partnership, or other association, that owns or proposes to construct a navigable water crossing.

Acts 1961, No. 188, § 1; A.S.A. 1947, § 73-2201.
Ark. Code Ann. § 23-47-503 — AR Code / Title 23 / Chapter 47 / Subchapter 5 / Section 23-47-503
Loans involving stock of state bank
Status: in_force

(a) It shall be unlawful for any state bank to knowingly: (1) Loan its funds to its stockholders on its own stock, or stock in its bank holding company, as collateral security; (2) Make any loan, the proceeds of which are used to purchase its own stock or stock of its bank holding company; or (3) Carry as an asset any loan representing, either directly or indirectly, an investment in its own stock or that of its bank holding company. Provided, however, that there shall be no violation of this subdivision (a)(3) when a bank acquires its own stock or stock in its bank holding company in the regular course of collecting a debt previously contracted in good faith if the bank complied with subdivisions (a)(1) and (2) of this section at the time the loan was made and if the bank divests the stock within two (2) years. (b) (1) Any officer or director of any state bank or any stockholder violating the provisions of this section shall be subject to civil money penalties of one thousand dollars ($1,000) per day, up to a maximum of one hundred thousand dollars ($100,000) in the aggregate, for each violation. (2) The civil penalties may be imposed by the commissioner pursuant to his or her power to and the procedure for issuing cease and desist orders. Acts 1997, No. 89, § 1.

(a) It shall be unlawful for any state bank to knowingly: (1) Loan its funds to its stockholders on its own stock, or stock in its bank holding company, as collateral security; (2) Make any loan, the proceeds of which are used to purchase its own stock or stock of its bank holding company; or (3) Carry as an asset any loan representing, either directly or indirectly, an investment in its own stock or that of its bank holding company. Provided, however, that there shall be no violation of this subdivision (a)(3) when a bank acquires its own stock or stock in its bank holding company in the regular course of collecting a debt previously contracted in good faith if the bank complied with subdivisions (a)(1) and (2) of this section at the time the loan was made and if the bank divests the stock within two (2) years.

(1) Loan its funds to its stockholders on its own stock, or stock in its bank holding company, as collateral security;

(2) Make any loan, the proceeds of which are used to purchase its own stock or stock of its bank holding company; or

(3) Carry as an asset any loan representing, either directly or indirectly, an investment in its own stock or that of its bank holding company. Provided, however, that there shall be no violation of this subdivision (a)(3) when a bank acquires its own stock or stock in its bank holding company in the regular course of collecting a debt previously contracted in good faith if the bank complied with subdivisions (a)(1) and (2) of this section at the time the loan was made and if the bank divests the stock within two (2) years.

(b) (1) Any officer or director of any state bank or any stockholder violating the provisions of this section shall be subject to civil money penalties of one thousand dollars ($1,000) per day, up to a maximum of one hundred thousand dollars ($100,000) in the aggregate, for each violation. (2) The civil penalties may be imposed by the commissioner pursuant to his or her power to and the procedure for issuing cease and desist orders.

(1) Any officer or director of any state bank or any stockholder violating the provisions of this section shall be subject to civil money penalties of one thousand dollars ($1,000) per day, up to a maximum of one hundred thousand dollars ($100,000) in the aggregate, for each violation.

(2) The civil penalties may be imposed by the commissioner pursuant to his or her power to and the procedure for issuing cease and desist orders.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-37-315 — AR Code / Title 23 / Chapter 37 / Subchapter 3 / Section 23-37-315
Corporate name
Status: in_force

(a) (1) The name of every new association organized under this chapter shall include either the words "savings and loan association" or "building and loan association". (2) These words shall be preceded by appropriate descriptive words approved by the Savings and Loan Association Board [abolished]. (3) An ordinal number may not be used as a single descriptive word preceding the words "savings and loan association" or "building and loan association" unless such words are followed by the words "of __________________," the blank being filled by the name of the town, city, or county in which the association has its home office. (4) The words "national", "federal", "United States", "insured", "guaranteed", or any form thereof, separately or in any combination thereof with other words or syllables, may not be used as part of the corporate name of an association organized under this chapter. (b) A charter shall not be granted to a proposed association having the same name as any other association or federal savings and loan association authorized to do business in this state or a name so nearly resembling it as to be calculated to deceive, except an association formed by a reincorporation, reorganization, or consolidation of other associations, or upon the sale of the property or franchise of an association. (c) No person, firm, company, association, fiduciary, partnership, or corporation, either domestic or foreign, unless authorized to do business in this state under the provisions of this chapter, shall do business under any name or title which indicates, or reasonably implies, that the business is the character or the kind of business carried on or transacted by an association, or which is calculated to lead any person to believe that the business is that of an association. (d) Upon application by the Supervisor of Savings and Loan Associations or by any affected association, a court of competent jurisdiction may issue an injunction to restrain any such entity from violating or continuing to violate any of the foregoing provisions of this section. Acts 1963, No. 227, § 28; A.S.A. 1947, § 67-1828.

(a) (1) The name of every new association organized under this chapter shall include either the words "savings and loan association" or "building and loan association". (2) These words shall be preceded by appropriate descriptive words approved by the Savings and Loan Association Board [abolished]. (3) An ordinal number may not be used as a single descriptive word preceding the words "savings and loan association" or "building and loan association" unless such words are followed by the words "of __________________," the blank being filled by the name of the town, city, or county in which the association has its home office. (4) The words "national", "federal", "United States", "insured", "guaranteed", or any form thereof, separately or in any combination thereof with other words or syllables, may not be used as part of the corporate name of an association organized under this chapter.

(1) The name of every new association organized under this chapter shall include either the words "savings and loan association" or "building and loan association".

(2) These words shall be preceded by appropriate descriptive words approved by the Savings and Loan Association Board [abolished].

(3) An ordinal number may not be used as a single descriptive word preceding the words "savings and loan association" or "building and loan association" unless such words are followed by the words "of __________________," the blank being filled by the name of the town, city, or county in which the association has its home office.

(4) The words "national", "federal", "United States", "insured", "guaranteed", or any form thereof, separately or in any combination thereof with other words or syllables, may not be used as part of the corporate name of an association organized under this chapter.

(b) A charter shall not be granted to a proposed association having the same name as any other association or federal savings and loan association authorized to do business in this state or a name so nearly resembling it as to be calculated to deceive, except an association formed by a reincorporation, reorganization, or consolidation of other associations, or upon the sale of the property or franchise of an association.

(c) No person, firm, company, association, fiduciary, partnership, or corporation, either domestic or foreign, unless authorized to do business in this state under the provisions of this chapter, shall do business under any name or title which indicates, or reasonably implies, that the business is the character or the kind of business carried on or transacted by an association, or which is calculated to lead any person to believe that the business is that of an association.

(d) Upon application by the Supervisor of Savings and Loan Associations or by any affected association, a court of competent jurisdiction may issue an injunction to restrain any such entity from violating or continuing to violate any of the foregoing provisions of this section.

Acts 1963, No. 227, § 28; A.S.A. 1947, § 67-1828.
Ark. Code Ann. § 23-85-101 — AR Code / Title 23 / Chapter 85 / Section 23-85-101
Franchise plan - Definition
Status: in_force

(a) Accident and health insurance on a franchise plan is declared to be that form of accident and health insurance issued to: (1) Five (5) or more employees of any corporation, copartnership, or individual employer or any governmental corporation, agency, or department thereof; or (2) Ten (10) or more members, employees, or employees of members of any trade or professional association or of a labor union or of any other association having had an active existence for at least two (2) years when: (A) The association or union has a constitution or bylaws and is formed in good faith for purposes other than that of obtaining insurance; and (B) Such persons, with or without their dependents, are issued the same form of an individual policy varying only as to amounts and kinds of coverage applied for by the persons under an arrangement whereby the premiums on the policies may be paid to the insurer periodically by: (i) The employer, with or without payroll deductions; (ii) The association for its members; or (iii) Some designated person acting on behalf of the employer or association or union. (b) As used in this section, the term "employees" may be deemed to include officers, managers, and employees and retired employees of the employer and the individual proprietor or partners if the employer is an individual proprietor or partnership. Acts 1959, No. 148, § 418; A.S.A. 1947, § 66-3633; Acts 2001, No. 909, § 2.

(a) Accident and health insurance on a franchise plan is declared to be that form of accident and health insurance issued to: (1) Five (5) or more employees of any corporation, copartnership, or individual employer or any governmental corporation, agency, or department thereof; or (2) Ten (10) or more members, employees, or employees of members of any trade or professional association or of a labor union or of any other association having had an active existence for at least two (2) years when: (A) The association or union has a constitution or bylaws and is formed in good faith for purposes other than that of obtaining insurance; and (B) Such persons, with or without their dependents, are issued the same form of an individual policy varying only as to amounts and kinds of coverage applied for by the persons under an arrangement whereby the premiums on the policies may be paid to the insurer periodically by: (i) The employer, with or without payroll deductions; (ii) The association for its members; or (iii) Some designated person acting on behalf of the employer or association or union.

(1) Five (5) or more employees of any corporation, copartnership, or individual employer or any governmental corporation, agency, or department thereof; or

(2) Ten (10) or more members, employees, or employees of members of any trade or professional association or of a labor union or of any other association having had an active existence for at least two (2) years when: (A) The association or union has a constitution or bylaws and is formed in good faith for purposes other than that of obtaining insurance; and (B) Such persons, with or without their dependents, are issued the same form of an individual policy varying only as to amounts and kinds of coverage applied for by the persons under an arrangement whereby the premiums on the policies may be paid to the insurer periodically by: (i) The employer, with or without payroll deductions; (ii) The association for its members; or (iii) Some designated person acting on behalf of the employer or association or union.

(A) The association or union has a constitution or bylaws and is formed in good faith for purposes other than that of obtaining insurance; and

(B) Such persons, with or without their dependents, are issued the same form of an individual policy varying only as to amounts and kinds of coverage applied for by the persons under an arrangement whereby the premiums on the policies may be paid to the insurer periodically by: (i) The employer, with or without payroll deductions; (ii) The association for its members; or (iii) Some designated person acting on behalf of the employer or association or union.

(i) The employer, with or without payroll deductions;

(ii) The association for its members; or

(iii) Some designated person acting on behalf of the employer or association or union.

(b) As used in this section, the term "employees" may be deemed to include officers, managers, and employees and retired employees of the employer and the individual proprietor or partners if the employer is an individual proprietor or partnership.

Acts 1959, No. 148, § 418; A.S.A. 1947, § 66-3633; Acts 2001, No. 909, § 2.
Ark. Code Ann. § 23-66-305 — AR Code / Title 23 / Chapter 66 / Subchapter 3 / Section 23-66-305
Misrepresentations in application for insurance
Status: in_force

(a) No agent, broker, solicitor, examining physician, or other person shall make a false or fraudulent statement or representation in, or relative to, an application for insurance. (b) Violations of this section shall be punishable under § 23-60-108 . Acts 1959, No. 148, § 232; A.S.A. 1947, § 66-3025.

(a) No agent, broker, solicitor, examining physician, or other person shall make a false or fraudulent statement or representation in, or relative to, an application for insurance.

(b) Violations of this section shall be punishable under § 23-60-108 .

Acts 1959, No. 148, § 232; A.S.A. 1947, § 66-3025.
Ark. Code Ann. § 23-42-110 — AR Code / Title 23 / Chapter 42 / Subchapter 1 / Section 23-42-110
False or misleading statements unlawful
Status: in_force

It is unlawful for any person to make or cause to be made, in any document filed with the Securities Commissioner or the commissioner's designee or in any proceeding under this chapter, any statement which is, at the time in light of the circumstances under which it is made, false or misleading in any material respect. Acts 1959, No. 254, § 16; 1983, No. 836, § 16; A.S.A. 1947, § 67-1250.

It is unlawful for any person to make or cause to be made, in any document filed with the Securities Commissioner or the commissioner's designee or in any proceeding under this chapter, any statement which is, at the time in light of the circumstances under which it is made, false or misleading in any material respect.

Acts 1959, No. 254, § 16; 1983, No. 836, § 16; A.S.A. 1947, § 67-1250.
Ark. Code Ann. § 23-48-910 — AR Code / Title 23 / Chapter 48 / Subchapter 9 / Section 23-48-910
Notice of subsequent merger
Status: in_force

Each registered out-of-state bank that has established and maintains a branch in this state pursuant to this subchapter shall give at least thirty (30) days' prior written notice or, in the case of an emergency transaction, shorter notice that is consistent with applicable state or federal law, to the Bank Commissioner of any merger, consolidation, or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank, which requires that an application be filed pursuant to the Change in Bank Control Act of 1978, 12 U.S.C. § 1817(j) , or the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., or any successor statutes thereto. Acts 1997, No. 408, § 20.

Each registered out-of-state bank that has established and maintains a branch in this state pursuant to this subchapter shall give at least thirty (30) days' prior written notice or, in the case of an emergency transaction, shorter notice that is consistent with applicable state or federal law, to the Bank Commissioner of any merger, consolidation, or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank, which requires that an application be filed pursuant to the Change in Bank Control Act of 1978, 12 U.S.C. § 1817(j) , or the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., or any successor statutes thereto.

Acts 1997, No. 408, § 20.
Ark. Code Ann. § 23-37-311 — AR Code / Title 23 / Chapter 37 / Subchapter 3 / Section 23-37-311
Failure to commence business - Cancellation of charter
Status: in_force

(a) Within one (1) year after the date of the action of the Savings and Loan Association Board [abolished] granting the charter, the association shall furnish satisfactory evidence to the Supervisor of Savings and Loan Associations that it has commenced business. If the order of the board granting the charter of any action regarding insurance of its accounts is appealed to one (1) or more state or federal courts, the association shall show proof that it has commenced business within one (1) year after the conclusion of the litigation. (b) (1) If any association fails to commence business within the one-year period and the supervisor so finds after notice and hearing, he or she shall enter an order cancelling the charter unless good cause is shown for the failure, in which event the supervisor shall grant a reasonable extension of time for commencing business, not to exceed two (2) years, to give the association the opportunity to overcome the cause for delay. (2) No charter shall be cancelled during the pendency of any litigation in any state or federal court regarding the charter, the operation, or the insurance of the accounts of a savings and loan association. (c) The supervisor shall file a copy of any order cancelling a savings and loan association charter with the Secretary of State and with the county clerk of the county in which the home office of the association is located. (d) Parties other than the affected association shall not be heard regarding any extension of time of an association's charter. However, any party which appeared before the board protesting the granting of the charter shall, upon written request, be notified of the determination of the supervisor on the extension request. Acts 1963, No. 227, § 26; 1975, No. 531, § 3; 1977, No. 350, § 1; A.S.A. 1947, § 67-1826.

(a) Within one (1) year after the date of the action of the Savings and Loan Association Board [abolished] granting the charter, the association shall furnish satisfactory evidence to the Supervisor of Savings and Loan Associations that it has commenced business. If the order of the board granting the charter of any action regarding insurance of its accounts is appealed to one (1) or more state or federal courts, the association shall show proof that it has commenced business within one (1) year after the conclusion of the litigation.

(b) (1) If any association fails to commence business within the one-year period and the supervisor so finds after notice and hearing, he or she shall enter an order cancelling the charter unless good cause is shown for the failure, in which event the supervisor shall grant a reasonable extension of time for commencing business, not to exceed two (2) years, to give the association the opportunity to overcome the cause for delay. (2) No charter shall be cancelled during the pendency of any litigation in any state or federal court regarding the charter, the operation, or the insurance of the accounts of a savings and loan association.

(1) If any association fails to commence business within the one-year period and the supervisor so finds after notice and hearing, he or she shall enter an order cancelling the charter unless good cause is shown for the failure, in which event the supervisor shall grant a reasonable extension of time for commencing business, not to exceed two (2) years, to give the association the opportunity to overcome the cause for delay.

(2) No charter shall be cancelled during the pendency of any litigation in any state or federal court regarding the charter, the operation, or the insurance of the accounts of a savings and loan association.

(c) The supervisor shall file a copy of any order cancelling a savings and loan association charter with the Secretary of State and with the county clerk of the county in which the home office of the association is located.

(d) Parties other than the affected association shall not be heard regarding any extension of time of an association's charter. However, any party which appeared before the board protesting the granting of the charter shall, upon written request, be notified of the determination of the supervisor on the extension request.

Acts 1963, No. 227, § 26; 1975, No. 531, § 3; 1977, No. 350, § 1; A.S.A. 1947, § 67-1826.