Ark. Code Ann. § 23-63-1607 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1607
Reporting
Status: in_force

(a) A captive insurance company shall not be required to make an annual report, except as provided under this subchapter. (b) (1) Before March 1 of each year, or within an extension of time that, upon good cause shown, has been granted by the Insurance Commissioner, a captive insurance company shall submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers. (2) (A) Except as provided in §§ 23-63-1604 and 23-63-1605 , a captive insurance company shall report using generally accepted accounting principles unless the commissioner approves the use of statutory accounting principles. (B) The commissioner may require, approve, or accept appropriate modifications or adaptations for the type of insurance and kinds of insurers to be reported upon, supplemented by additional information. (3) (A) Unless provided otherwise, an association captive insurance company and an industrial insured group shall file their reports in the form required by § 23-63-216(a) . (B) The commissioner shall prescribe by rule the forms in which producer reinsurance captive insurance companies, pure captive insurance companies, and industrial insured captive insurance companies shall report. (c) A producer reinsurance captive insurance company or a pure captive insurance company may apply to file the required report on a fiscal year-end that is consistent with the parent company's fiscal year. If an alternative reporting date is granted: (1) The annual report is due no later than sixty (60) days after the fiscal year-end; and (2) In order to provide sufficient detail to support the premium tax return, the pure captive insurance company shall file before March 1 of each year for each calendar year-end pages one (1), two (2), three (3), and five (5) of the "Captive Annual Statement: Pure or Industrial Insured", verified by oath of two (2) of its executive officers. (d) (1) Sixty (60) days after the fiscal year-end, a branch captive insurance company shall file with the commissioner a copy of all reports and statements required to be filed under the laws of the jurisdiction in which the alien captive insurance company is formed, verified by oath by two (2) of its executive officers. (2) (A) If the commissioner is satisfied that the annual report filed by the alien captive insurance company in its domiciliary jurisdiction provides adequate information concerning the financial condition of the alien captive insurance company, the commissioner may waive the requirement for completion of the captive annual statement for business written in the alien jurisdiction. (B) The waiver must be in writing and subject to public inspection. Amended by Act 2019, No. 315,§ 2641, eff. 7/24/2019. Amended by Act 2019, No. 521,§ 9, eff. 7/24/2019. Amended by Act 2017, No. 370,§ 4, eff. 8/1/2017. Acts 2001, No. 1391, § 7; 2003, No. 466, § 6; 2009, No. 726, § 23.

(a) A captive insurance company shall not be required to make an annual report, except as provided under this subchapter.

(b) (1) Before March 1 of each year, or within an extension of time that, upon good cause shown, has been granted by the Insurance Commissioner, a captive insurance company shall submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers. (2) (A) Except as provided in §§ 23-63-1604 and 23-63-1605 , a captive insurance company shall report using generally accepted accounting principles unless the commissioner approves the use of statutory accounting principles. (B) The commissioner may require, approve, or accept appropriate modifications or adaptations for the type of insurance and kinds of insurers to be reported upon, supplemented by additional information. (3) (A) Unless provided otherwise, an association captive insurance company and an industrial insured group shall file their reports in the form required by § 23-63-216(a) . (B) The commissioner shall prescribe by rule the forms in which producer reinsurance captive insurance companies, pure captive insurance companies, and industrial insured captive insurance companies shall report.

(1) Before March 1 of each year, or within an extension of time that, upon good cause shown, has been granted by the Insurance Commissioner, a captive insurance company shall submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers.

(2) (A) Except as provided in §§ 23-63-1604 and 23-63-1605 , a captive insurance company shall report using generally accepted accounting principles unless the commissioner approves the use of statutory accounting principles. (B) The commissioner may require, approve, or accept appropriate modifications or adaptations for the type of insurance and kinds of insurers to be reported upon, supplemented by additional information.

(A) Except as provided in §§ 23-63-1604 and 23-63-1605 , a captive insurance company shall report using generally accepted accounting principles unless the commissioner approves the use of statutory accounting principles.

(B) The commissioner may require, approve, or accept appropriate modifications or adaptations for the type of insurance and kinds of insurers to be reported upon, supplemented by additional information.

(3) (A) Unless provided otherwise, an association captive insurance company and an industrial insured group shall file their reports in the form required by § 23-63-216(a) . (B) The commissioner shall prescribe by rule the forms in which producer reinsurance captive insurance companies, pure captive insurance companies, and industrial insured captive insurance companies shall report.

(A) Unless provided otherwise, an association captive insurance company and an industrial insured group shall file their reports in the form required by § 23-63-216(a) .

(B) The commissioner shall prescribe by rule the forms in which producer reinsurance captive insurance companies, pure captive insurance companies, and industrial insured captive insurance companies shall report.

(c) A producer reinsurance captive insurance company or a pure captive insurance company may apply to file the required report on a fiscal year-end that is consistent with the parent company's fiscal year. If an alternative reporting date is granted: (1) The annual report is due no later than sixty (60) days after the fiscal year-end; and (2) In order to provide sufficient detail to support the premium tax return, the pure captive insurance company shall file before March 1 of each year for each calendar year-end pages one (1), two (2), three (3), and five (5) of the "Captive Annual Statement: Pure or Industrial Insured", verified by oath of two (2) of its executive officers.

(1) The annual report is due no later than sixty (60) days after the fiscal year-end; and

(2) In order to provide sufficient detail to support the premium tax return, the pure captive insurance company shall file before March 1 of each year for each calendar year-end pages one (1), two (2), three (3), and five (5) of the "Captive Annual Statement: Pure or Industrial Insured", verified by oath of two (2) of its executive officers.

(d) (1) Sixty (60) days after the fiscal year-end, a branch captive insurance company shall file with the commissioner a copy of all reports and statements required to be filed under the laws of the jurisdiction in which the alien captive insurance company is formed, verified by oath by two (2) of its executive officers. (2) (A) If the commissioner is satisfied that the annual report filed by the alien captive insurance company in its domiciliary jurisdiction provides adequate information concerning the financial condition of the alien captive insurance company, the commissioner may waive the requirement for completion of the captive annual statement for business written in the alien jurisdiction. (B) The waiver must be in writing and subject to public inspection.

(1) Sixty (60) days after the fiscal year-end, a branch captive insurance company shall file with the commissioner a copy of all reports and statements required to be filed under the laws of the jurisdiction in which the alien captive insurance company is formed, verified by oath by two (2) of its executive officers.

(2) (A) If the commissioner is satisfied that the annual report filed by the alien captive insurance company in its domiciliary jurisdiction provides adequate information concerning the financial condition of the alien captive insurance company, the commissioner may waive the requirement for completion of the captive annual statement for business written in the alien jurisdiction. (B) The waiver must be in writing and subject to public inspection.

(A) If the commissioner is satisfied that the annual report filed by the alien captive insurance company in its domiciliary jurisdiction provides adequate information concerning the financial condition of the alien captive insurance company, the commissioner may waive the requirement for completion of the captive annual statement for business written in the alien jurisdiction.

(B) The waiver must be in writing and subject to public inspection.

Amended by Act 2019, No. 315,§ 2641, eff. 7/24/2019.

Amended by Act 2019, No. 521,§ 9, eff. 7/24/2019.

Amended by Act 2017, No. 370,§ 4, eff. 8/1/2017.

Acts 2001, No. 1391, § 7; 2003, No. 466, § 6; 2009, No. 726, § 23.
Ark. Code Ann. § 23-92-504 — AR Code / Title 23 / Chapter 92 / Subchapter 5 / Section 23-92-504
License to do business - Application - Fees - Rules
Status: in_force

(a) (1) A person or organization shall not establish or operate as a pharmacy benefits manager in Arkansas for health benefit plans without obtaining a license from the Insurance Commissioner under this subchapter. (2) The commissioner shall prescribe the application for a license to operate in Arkansas as a pharmacy benefits manager and may charge application fees and renewal fees as established by rule. (b) The commissioner shall issue rules establishing the licensing, fees, application, financial standards, penalties, compliance and enforcement requirements, and reporting requirements of pharmacy benefits managers under this subchapter. Amended by Act 2023, No. 302,§ 2, eff. 8/1/2023. Added by Act 2018EX2, No. 1,§ 1, eff. 3/15/2018. Added by Act 2018EX2, No. 3,§ 1, eff. 3/19/2018.

(a) (1) A person or organization shall not establish or operate as a pharmacy benefits manager in Arkansas for health benefit plans without obtaining a license from the Insurance Commissioner under this subchapter. (2) The commissioner shall prescribe the application for a license to operate in Arkansas as a pharmacy benefits manager and may charge application fees and renewal fees as established by rule.

(1) A person or organization shall not establish or operate as a pharmacy benefits manager in Arkansas for health benefit plans without obtaining a license from the Insurance Commissioner under this subchapter.

(2) The commissioner shall prescribe the application for a license to operate in Arkansas as a pharmacy benefits manager and may charge application fees and renewal fees as established by rule.

(b) The commissioner shall issue rules establishing the licensing, fees, application, financial standards, penalties, compliance and enforcement requirements, and reporting requirements of pharmacy benefits managers under this subchapter.

Amended by Act 2023, No. 302,§ 2, eff. 8/1/2023.

Added by Act 2018EX2, No. 1,§ 1, eff. 3/15/2018.

Added by Act 2018EX2, No. 3,§ 1, eff. 3/19/2018.
Ark. Code Ann. § 23-32-301 — AR Code / Title 23 / Chapter 32 / Subchapter 3 / Section 23-32-301
Title
Status: in_force

This subchapter may be known as the "Surety Bond Exemption Act". Acts 1997, No. 84, § 1.

This subchapter may be known as the "Surety Bond Exemption Act".

Acts 1997, No. 84, § 1.
Ark. Code Ann. § 23-66-509 — AR Code / Title 23 / Chapter 66 / Subchapter 5 / Section 23-66-509
Other law enforcement of regulatory authority
Status: in_force

This subchapter shall not: (1) Preempt the authority or relieve the duty of other law enforcement or regulatory agencies to investigate, examine, and prosecute suspected violations of law; (2) Prevent or prohibit a person from voluntarily disclosing information concerning insurance fraud to a law enforcement or regulatory agency other than the Criminal Investigation Division; or (3) Limit the powers granted elsewhere by the laws of this state to the Insurance Commissioner or the division to investigate and examine possible violations of law and to take appropriate action against wrongdoers. Acts 1997, No. 217, § 1.

This subchapter shall not:

(1) Preempt the authority or relieve the duty of other law enforcement or regulatory agencies to investigate, examine, and prosecute suspected violations of law;

(2) Prevent or prohibit a person from voluntarily disclosing information concerning insurance fraud to a law enforcement or regulatory agency other than the Criminal Investigation Division; or

(3) Limit the powers granted elsewhere by the laws of this state to the Insurance Commissioner or the division to investigate and examine possible violations of law and to take appropriate action against wrongdoers.

Acts 1997, No. 217, § 1.
Ark. Code Ann. § 23-18-301 — AR Code / Title 23 / Chapter 18 / Subchapter 3 / Section 23-18-301
Title
Status: in_force

This subchapter may be cited as the "Electric Cooperative Corporation Act". Acts 1937, No. 342, § 1; Pope's Dig., § 2315; A.S.A. 1947, § 77-1101.

This subchapter may be cited as the "Electric Cooperative Corporation Act".

Acts 1937, No. 342, § 1; Pope's Dig., § 2315; A.S.A. 1947, § 77-1101.
Ark. Code Ann. § 23-92-503 — AR Code / Title 23 / Chapter 92 / Subchapter 5 / Section 23-92-503
Definitions
Status: in_force

As used in this subchapter: (1) "Claims processing services" means the administrative services performed in connection with the processing and adjudicating of claims relating to pharmacist services that include: (A) Receiving payments for pharmacist services; (B) Making payments to pharmacists or pharmacies for pharmacist services; or (C) Both subdivisions (1)(A) and (B) of this section; (2) (A) "Health benefit plan" means any individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by a healthcare payor to residents of 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; or (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. (C) "Health benefit plan" includes any group plan, policy, or contract for healthcare services issued outside this state that provides benefits to residents of this state; (3) "Healthcare payor" means: (A) A health insurance company; (B) A health maintenance organization; (C) A hospital and medical services corporation; and (D) An entity that provides or administers a self-funded health benefit plan, including a governmental plan; (4) "Other prescription drug or device services" means services other than claims processing services, provided directly or indirectly, whether in connection with or separate from claims processing services, including without limitation: (A) Negotiating rebates, discounts, or other financial incentives and arrangements with drug companies; (B) Disbursing or distributing rebates; (C) Managing or participating in incentive programs or arrangements for pharmacist services; (D) Negotiating or entering into contractual arrangements with pharmacists or pharmacies, or both; (E) Developing formularies; (F) Designing prescription benefit programs; or (G) Advertising or promoting services; (5) "Pharmacist" means an individual licensed as a pharmacist by the Arkansas State Board of Pharmacy; (6) "Pharmacist services" means products, goods, and services, or any combination of products, goods, and services, provided as a part of the practice of pharmacy as defined in § 17-92-101 ; (7) "Pharmacy" means the same as defined in § 17-92-101 ; (8) (A) "Pharmacy benefits manager" means a person, business, or entity, including a wholly or partially owned or controlled subsidiary of a pharmacy benefits manager, that provides claims processing services or other prescription drug or device services, or both, for health benefit plans. (B) "Pharmacy benefits manager" does not include any: (i) Healthcare facility licensed in Arkansas; (ii) Healthcare professional licensed in Arkansas; (iii) Consultant who only provides advice as to the selection or performance of a pharmacy benefits manager; or (iv) Entity that provides claims processing services or other prescription drug or device services for the fee-for-service Arkansas Medicaid Program only in that capacity; (9) "Pharmacy benefits manager affiliate" means a pharmacy or pharmacist that directly or indirectly, through one (1) or more intermediaries, owns or controls, is owned or controlled by, or is under common ownership or control with a pharmacy benefits manager; (10) "Pharmacy benefits manager network" means a network of pharmacists or pharmacies that are offered by an agreement or insurance contract to provide pharmacist services for health benefit plans; (11) "Pharmacy benefits plan or program" means a plan or program that pays for, reimburses, covers the cost of, or otherwise provides for pharmacist services under a health benefit plan; (12) "Pharmacy services administrative organization" means an organization that helps community pharmacies and pharmacy benefits managers or third-party payers achieve administrative efficiencies, including contracting and payment efficiencies; (13) (A) "Rebate" means a discount or other price concession, or a payment that is: (i) Based on utilization of a prescription drug; and (ii) Paid by a manufacturer or third party, directly or indirectly, to a pharmacy benefits manager, pharmacy services administrative organization, or pharmacy after a claim has been processed and paid at a pharmacy. (B) "Rebate" includes without limitation incentives, disbursements, and reasonable estimates of a volume-based discount; (14) "Spread pricing" means the model of prescription drug pricing in which the pharmacy benefits manager charges a health benefit plan a contracted price for prescription drugs, and the contracted price for the prescription drugs differs from the amount the pharmacy benefits manager directly or indirectly pays the pharmacist or pharmacy for pharmacist services; and (15) "Third party" means a person, business, or entity other than a pharmacy benefits manager that is not an enrollee or insured in a health benefit plan. Amended by Act 2023, No. 302,§ 1, eff. 8/1/2023. Amended by Act 2021, No. 665,§ 4, eff. 7/28/2021. Amended by Act 2021, No. 665,§ 3, eff. 7/28/2021. Amended by Act 2021, No. 665,§ 2, eff. 7/28/2021. Amended by Act 2019, No. 994,§ 7, eff. 7/24/2019. Amended by Act 2019, No. 994,§ 6, eff. 7/24/2019. Added by Act 2018EX2, No. 1,§ 1, eff. 3/15/2018. Added by Act 2018EX2, No. 3,§ 1, eff. 3/19/2018.

As used in this subchapter:

(1) "Claims processing services" means the administrative services performed in connection with the processing and adjudicating of claims relating to pharmacist services that include: (A) Receiving payments for pharmacist services; (B) Making payments to pharmacists or pharmacies for pharmacist services; or (C) Both subdivisions (1)(A) and (B) of this section;

(A) Receiving payments for pharmacist services;

(B) Making payments to pharmacists or pharmacies for pharmacist services; or

(C) Both subdivisions (1)(A) and (B) of this section;

(2) (A) "Health benefit plan" means any individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by a healthcare payor to residents of 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; or (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. (C) "Health benefit plan" includes any group plan, policy, or contract for healthcare services issued outside this state that provides benefits to residents of this state;

(A) "Health benefit plan" means any individual, blanket, or group plan, policy, or contract for healthcare services issued or delivered by a healthcare payor to residents of 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; or (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.

(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; or

(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.

(C) "Health benefit plan" includes any group plan, policy, or contract for healthcare services issued outside this state that provides benefits to residents of this state;

(3) "Healthcare payor" means: (A) A health insurance company; (B) A health maintenance organization; (C) A hospital and medical services corporation; and (D) An entity that provides or administers a self-funded health benefit plan, including a governmental plan;

(A) A health insurance company;

(B) A health maintenance organization;

(C) A hospital and medical services corporation; and

(D) An entity that provides or administers a self-funded health benefit plan, including a governmental plan;

(4) "Other prescription drug or device services" means services other than claims processing services, provided directly or indirectly, whether in connection with or separate from claims processing services, including without limitation: (A) Negotiating rebates, discounts, or other financial incentives and arrangements with drug companies; (B) Disbursing or distributing rebates; (C) Managing or participating in incentive programs or arrangements for pharmacist services; (D) Negotiating or entering into contractual arrangements with pharmacists or pharmacies, or both; (E) Developing formularies; (F) Designing prescription benefit programs; or (G) Advertising or promoting services;

(A) Negotiating rebates, discounts, or other financial incentives and arrangements with drug companies;

(B) Disbursing or distributing rebates;

(C) Managing or participating in incentive programs or arrangements for pharmacist services;

(D) Negotiating or entering into contractual arrangements with pharmacists or pharmacies, or both;

(E) Developing formularies;

(F) Designing prescription benefit programs; or

(G) Advertising or promoting services;

(5) "Pharmacist" means an individual licensed as a pharmacist by the Arkansas State Board of Pharmacy;

(6) "Pharmacist services" means products, goods, and services, or any combination of products, goods, and services, provided as a part of the practice of pharmacy as defined in § 17-92-101 ;

(7) "Pharmacy" means the same as defined in § 17-92-101 ;

(8) (A) "Pharmacy benefits manager" means a person, business, or entity, including a wholly or partially owned or controlled subsidiary of a pharmacy benefits manager, that provides claims processing services or other prescription drug or device services, or both, for health benefit plans. (B) "Pharmacy benefits manager" does not include any: (i) Healthcare facility licensed in Arkansas; (ii) Healthcare professional licensed in Arkansas; (iii) Consultant who only provides advice as to the selection or performance of a pharmacy benefits manager; or (iv) Entity that provides claims processing services or other prescription drug or device services for the fee-for-service Arkansas Medicaid Program only in that capacity;

(A) "Pharmacy benefits manager" means a person, business, or entity, including a wholly or partially owned or controlled subsidiary of a pharmacy benefits manager, that provides claims processing services or other prescription drug or device services, or both, for health benefit plans.

(B) "Pharmacy benefits manager" does not include any: (i) Healthcare facility licensed in Arkansas; (ii) Healthcare professional licensed in Arkansas; (iii) Consultant who only provides advice as to the selection or performance of a pharmacy benefits manager; or (iv) Entity that provides claims processing services or other prescription drug or device services for the fee-for-service Arkansas Medicaid Program only in that capacity;

(i) Healthcare facility licensed in Arkansas;

(ii) Healthcare professional licensed in Arkansas;

(iii) Consultant who only provides advice as to the selection or performance of a pharmacy benefits manager; or

(iv) Entity that provides claims processing services or other prescription drug or device services for the fee-for-service Arkansas Medicaid Program only in that capacity;

(9) "Pharmacy benefits manager affiliate" means a pharmacy or pharmacist that directly or indirectly, through one (1) or more intermediaries, owns or controls, is owned or controlled by, or is under common ownership or control with a pharmacy benefits manager;

(10) "Pharmacy benefits manager network" means a network of pharmacists or pharmacies that are offered by an agreement or insurance contract to provide pharmacist services for health benefit plans;

(11) "Pharmacy benefits plan or program" means a plan or program that pays for, reimburses, covers the cost of, or otherwise provides for pharmacist services under a health benefit plan;

(12) "Pharmacy services administrative organization" means an organization that helps community pharmacies and pharmacy benefits managers or third-party payers achieve administrative efficiencies, including contracting and payment efficiencies;

(13) (A) "Rebate" means a discount or other price concession, or a payment that is: (i) Based on utilization of a prescription drug; and (ii) Paid by a manufacturer or third party, directly or indirectly, to a pharmacy benefits manager, pharmacy services administrative organization, or pharmacy after a claim has been processed and paid at a pharmacy. (B) "Rebate" includes without limitation incentives, disbursements, and reasonable estimates of a volume-based discount;

(A) "Rebate" means a discount or other price concession, or a payment that is: (i) Based on utilization of a prescription drug; and (ii) Paid by a manufacturer or third party, directly or indirectly, to a pharmacy benefits manager, pharmacy services administrative organization, or pharmacy after a claim has been processed and paid at a pharmacy.

(i) Based on utilization of a prescription drug; and

(ii) Paid by a manufacturer or third party, directly or indirectly, to a pharmacy benefits manager, pharmacy services administrative organization, or pharmacy after a claim has been processed and paid at a pharmacy.

(B) "Rebate" includes without limitation incentives, disbursements, and reasonable estimates of a volume-based discount;

(14) "Spread pricing" means the model of prescription drug pricing in which the pharmacy benefits manager charges a health benefit plan a contracted price for prescription drugs, and the contracted price for the prescription drugs differs from the amount the pharmacy benefits manager directly or indirectly pays the pharmacist or pharmacy for pharmacist services; and

(15) "Third party" means a person, business, or entity other than a pharmacy benefits manager that is not an enrollee or insured in a health benefit plan.

Amended by Act 2023, No. 302,§ 1, eff. 8/1/2023.

Amended by Act 2021, No. 665,§ 4, eff. 7/28/2021.

Amended by Act 2021, No. 665,§ 3, eff. 7/28/2021.

Amended by Act 2021, No. 665,§ 2, eff. 7/28/2021.

Amended by Act 2019, No. 994,§ 7, eff. 7/24/2019.

Amended by Act 2019, No. 994,§ 6, eff. 7/24/2019.

Added by Act 2018EX2, No. 1,§ 1, eff. 3/15/2018.

Added by Act 2018EX2, No. 3,§ 1, eff. 3/19/2018.
Ark. Code Ann. § 23-4-407 — AR Code / Title 23 / Chapter 4 / Subchapter 4 / Section 23-4-407
Suspension of proposed rates
Status: in_force

(a) Pending its investigation and the decision thereon, the Arkansas Public Service Commission may suspend the operation of the rate by written order at any time before the new rate becomes effective. However, the suspension shall not be for a longer period than nine (9) months beyond the time when the rate would otherwise go into effect. Any order initially suspending the rate shall set a specific date for the commencement of a hearing inquiring into the rate requested unless waived by the applicant utility. (b) (1) Provided, however, that the commission may suspend, for a time certain, the operation of the rate or rates for a longer period than nine (9) months beyond the time when such rate or rates would otherwise go into effect if the public utility which filed the rate or rates files a waiver in writing with the commission before the expiration of the previously ordered suspension period consenting to such an additional suspension. The commission may not suspend a rate or rates for any additional period greater than that consented to by the public utility. (2) The provisions of this subsection shall not apply to any telephone company or telephone cooperative which has fewer than ten thousand (10,000) access lines. Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1; 1991, No. 1090, § 1.

(a) Pending its investigation and the decision thereon, the Arkansas Public Service Commission may suspend the operation of the rate by written order at any time before the new rate becomes effective. However, the suspension shall not be for a longer period than nine (9) months beyond the time when the rate would otherwise go into effect. Any order initially suspending the rate shall set a specific date for the commencement of a hearing inquiring into the rate requested unless waived by the applicant utility.

(b) (1) Provided, however, that the commission may suspend, for a time certain, the operation of the rate or rates for a longer period than nine (9) months beyond the time when such rate or rates would otherwise go into effect if the public utility which filed the rate or rates files a waiver in writing with the commission before the expiration of the previously ordered suspension period consenting to such an additional suspension. The commission may not suspend a rate or rates for any additional period greater than that consented to by the public utility. (2) The provisions of this subsection shall not apply to any telephone company or telephone cooperative which has fewer than ten thousand (10,000) access lines.

(1) Provided, however, that the commission may suspend, for a time certain, the operation of the rate or rates for a longer period than nine (9) months beyond the time when such rate or rates would otherwise go into effect if the public utility which filed the rate or rates files a waiver in writing with the commission before the expiration of the previously ordered suspension period consenting to such an additional suspension. The commission may not suspend a rate or rates for any additional period greater than that consented to by the public utility.

(2) The provisions of this subsection shall not apply to any telephone company or telephone cooperative which has fewer than ten thousand (10,000) access lines.

Acts 1935, No. 324, § 18; Pope's Dig., § 2081; Acts 1955, No. 31, § 1; 1975 (Extended Sess., 1976), No. 1181, § 1; 1980 (2nd Ex. Sess.), No. 4, § 1; 1981 (Ex. Sess.), No. 30, § 1; A.S.A. 1947, § 73-217; reen. Acts 1987, No. 994, § 1; 1991, No. 1090, § 1.
Ark. Code Ann. § 23-81-107 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-107
Life insurance - Misstatement of age provision
Status: in_force

(a) There shall be a provision that if the age of the insured or of any other person whose age is considered in determining the premium has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age. (b) As to overstatement of age, the policy may provide, in lieu of the provisions required under subsection (a) of this section, that the insurer will refund any excess of premium collected for the amount of insurance or benefit stated in the policy, as based upon the correct age. Acts 1959, No. 148, § 315; A.S.A. 1947, § 66-3306.

(a) There shall be a provision that if the age of the insured or of any other person whose age is considered in determining the premium has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age.

(b) As to overstatement of age, the policy may provide, in lieu of the provisions required under subsection (a) of this section, that the insurer will refund any excess of premium collected for the amount of insurance or benefit stated in the policy, as based upon the correct age.

Acts 1959, No. 148, § 315; A.S.A. 1947, § 66-3306.
Ark. Code Ann. § 23-61-706 — AR Code / Title 23 / Chapter 61 / Subchapter 7 / Section 23-61-706
Administrative and regulatory fees - Other licensees
Status: in_force

(a) In addition to and notwithstanding all other current and future statutory fees, assessments, or penalties paid by licensees or registrants in connection with the issuance and renewal of their Arkansas licenses or registrations as required under the Arkansas Insurance Code or other Arkansas laws, new and additional or increased nonrefundable administrative and regulatory fees are hereby imposed against all licensed resident and nonresident agents, agencies, brokers, surplus line and purchasing group brokers, risk retention agents, third party administrators, and similar licensees or registrants for each and every individual, firm, or corporation licensed or registered by the State Insurance Department pursuant to the provisions of the Arkansas Insurance Code and, in particular, the provisions of § 23-64-101 et seq., § 23-64-201 et seq., the Surplus Lines Insurance Law, § 23-65-301 et seq., § 23-73-101 et seq., § 23-74-101 et seq., § 23-76-101 et seq., the Arkansas Legal Insurance Act, § 23-91-201 et seq. [repealed], § 23-92-201 et seq., and the Risk Retention and Purchasing Groups Act, § 23-94-201 et seq., excluding insurers, health maintenance organizations, hospital and medical service corporations, fraternal benefit societies, and farmers' mutual aid associations, risk retention and purchasing groups, stipulated premium insurers, and similar insurer-type entities. (b) The fees shall be payable to the State Insurance Department Trust Fund for the support and operation of the department, and in no event shall any one (1) fee required by subsection (a) of this section exceed a maximum of fifty dollars ($50.00) per license or registration. The fees due per license as required by this section commencing on and after July 1, 1994, and annually thereafter, shall be due in an amount and at such times or upon such schedule as the Insurance Commissioner shall prescribe in a companion rule to this chapter after notice and a public hearing, so long as the companion rule does not provide for any one (1) fee set pursuant to this section to exceed the maximum amount of fifty dollars ($50.00) per license. (c) Commencing immediately on and after March 24, 1993, all new applicants for original or initial licensure or registration pursuant to the provisions of any of the Arkansas Insurance Code subchapters recited in subsection (a) of this section shall pay the annual administrative and regulatory fee per license or registration to accompany the application for the license or registration upon filing with the department. (d) (1) Upon the failure of the applicant or licensee or registrant timely to report or pay any of the additional administrative and regulatory fees assessed in this section, the fee payable to the fund shall be twice the amount required in this section. (2) Additionally, without an abuse of discretion, the commissioner in his or her discretion may deny licensure or renewal licensure or registration or renewal registration to a new applicant, licensee, or registrant, or may suspend or revoke current licensees or registrants required by this section to pay the administrative and regulatory fee. (3) The commissioner may also pursue other civil legal remedies for collection of the fees and penalties due and unpaid from applicants and licensees and registrants pursuant to this section. (e) Upon collection, the Insurance Commissioner shall deposit all such administrative and regulatory fees and penalties directly into the fund as special revenues. (f) For the licensees enumerated in this section whose licenses are subsequently suspended for violations of Arkansas laws or the commissioner's rules or orders, the administrative and regulatory fees are due and owing upon the normal due date prescribed in the commissioner's companion rule to this subchapter, including those licensees under a license suspension ordered by the commissioner for timely failure to pay this regulatory fee, and license reinstatement shall not proceed, automatically or otherwise, pursuant to the Arkansas Insurance Code unless and until the licensee pays all outstanding and owing regulatory fees imposed by this chapter. Amended by Act 2019, No. 315,§ 2620, eff. 7/24/2019. Acts 1993, No. 652, § 7.

(a) In addition to and notwithstanding all other current and future statutory fees, assessments, or penalties paid by licensees or registrants in connection with the issuance and renewal of their Arkansas licenses or registrations as required under the Arkansas Insurance Code or other Arkansas laws, new and additional or increased nonrefundable administrative and regulatory fees are hereby imposed against all licensed resident and nonresident agents, agencies, brokers, surplus line and purchasing group brokers, risk retention agents, third party administrators, and similar licensees or registrants for each and every individual, firm, or corporation licensed or registered by the State Insurance Department pursuant to the provisions of the Arkansas Insurance Code and, in particular, the provisions of § 23-64-101 et seq., § 23-64-201 et seq., the Surplus Lines Insurance Law, § 23-65-301 et seq., § 23-73-101 et seq., § 23-74-101 et seq., § 23-76-101 et seq., the Arkansas Legal Insurance Act, § 23-91-201 et seq. [repealed], § 23-92-201 et seq., and the Risk Retention and Purchasing Groups Act, § 23-94-201 et seq., excluding insurers, health maintenance organizations, hospital and medical service corporations, fraternal benefit societies, and farmers' mutual aid associations, risk retention and purchasing groups, stipulated premium insurers, and similar insurer-type entities.

(b) The fees shall be payable to the State Insurance Department Trust Fund for the support and operation of the department, and in no event shall any one (1) fee required by subsection (a) of this section exceed a maximum of fifty dollars ($50.00) per license or registration. The fees due per license as required by this section commencing on and after July 1, 1994, and annually thereafter, shall be due in an amount and at such times or upon such schedule as the Insurance Commissioner shall prescribe in a companion rule to this chapter after notice and a public hearing, so long as the companion rule does not provide for any one (1) fee set pursuant to this section to exceed the maximum amount of fifty dollars ($50.00) per license.

(c) Commencing immediately on and after March 24, 1993, all new applicants for original or initial licensure or registration pursuant to the provisions of any of the Arkansas Insurance Code subchapters recited in subsection (a) of this section shall pay the annual administrative and regulatory fee per license or registration to accompany the application for the license or registration upon filing with the department.

(d) (1) Upon the failure of the applicant or licensee or registrant timely to report or pay any of the additional administrative and regulatory fees assessed in this section, the fee payable to the fund shall be twice the amount required in this section. (2) Additionally, without an abuse of discretion, the commissioner in his or her discretion may deny licensure or renewal licensure or registration or renewal registration to a new applicant, licensee, or registrant, or may suspend or revoke current licensees or registrants required by this section to pay the administrative and regulatory fee. (3) The commissioner may also pursue other civil legal remedies for collection of the fees and penalties due and unpaid from applicants and licensees and registrants pursuant to this section.

(1) Upon the failure of the applicant or licensee or registrant timely to report or pay any of the additional administrative and regulatory fees assessed in this section, the fee payable to the fund shall be twice the amount required in this section.

(2) Additionally, without an abuse of discretion, the commissioner in his or her discretion may deny licensure or renewal licensure or registration or renewal registration to a new applicant, licensee, or registrant, or may suspend or revoke current licensees or registrants required by this section to pay the administrative and regulatory fee.

(3) The commissioner may also pursue other civil legal remedies for collection of the fees and penalties due and unpaid from applicants and licensees and registrants pursuant to this section.

(e) Upon collection, the Insurance Commissioner shall deposit all such administrative and regulatory fees and penalties directly into the fund as special revenues.

(f) For the licensees enumerated in this section whose licenses are subsequently suspended for violations of Arkansas laws or the commissioner's rules or orders, the administrative and regulatory fees are due and owing upon the normal due date prescribed in the commissioner's companion rule to this subchapter, including those licensees under a license suspension ordered by the commissioner for timely failure to pay this regulatory fee, and license reinstatement shall not proceed, automatically or otherwise, pursuant to the Arkansas Insurance Code unless and until the licensee pays all outstanding and owing regulatory fees imposed by this chapter.

Amended by Act 2019, No. 315,§ 2620, eff. 7/24/2019.

Acts 1993, No. 652, § 7.
Ark. Code Ann. § 23-87-102 — AR Code / Title 23 / Chapter 87 / Section 23-87-102
Purpose
Status: in_force

The purpose of this chapter is to promote the public welfare by regulating credit life insurance and credit disability insurance. Acts 1959, No. 148, § 427; A.S.A. 1947, § 66-3801.

The purpose of this chapter is to promote the public welfare by regulating credit life insurance and credit disability insurance.

Acts 1959, No. 148, § 427; A.S.A. 1947, § 66-3801.
Ark. Code Ann. § 23-91-202 — AR Code / Title 23 / Chapter 91 / Subchapter 2 / Section 23-91-202
[Repealed]
Status: repealed

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023. Acts 1977, No. 368, § 1; A.S.A. 1947, § 66-5401.

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

Acts 1977, No. 368, § 1; A.S.A. 1947, § 66-5401.
Ark. Code Ann. § 23-18-905 — AR Code / Title 23 / Chapter 18 / Subchapter 9 / Section 23-18-905
Storm recovery property
Status: in_force

(a) (1) All storm recovery property that is specified in a financing order shall constitute an existing, present intangible property right or interest therein, notwithstanding that the imposition and collection of storm recovery charges depend on the utility to which the financing order is issued performing its servicing functions relating to the collection of storm recovery charges and on future electricity or natural gas consumption. (2) The property shall exist whether or not the revenues or proceeds arising from the property have been billed, have accrued, or have been collected and notwithstanding the fact that the value or amount of the property is or may be dependent on the future provision of service to customers by the utility or its successors or assignees and the future consumption by customers of electricity or natural gas. (b) Storm recovery property specified in a financing order shall continue to exist until the storm recovery bonds issued pursuant to the financing order are indefeasibly paid in full and all financing costs of the bonds have been paid in full. (c) (1) All or any portion of storm recovery property specified in a financing order issued to a utility, if storm recovery bonds are to be issued, shall be sold, assigned, or transferred to a successor or an assignee, including an affiliate or affiliates of the utility created for the limited purpose of acquiring, owning, or administering storm recovery property or issuing storm recovery bonds under the financing order. (2) All or any portion of storm recovery property may be encumbered by a security interest to secure storm recovery bonds issued pursuant to the financing order, amounts payable to financing parties and to counterparties under any ancillary agreements, and other financing costs. (3) Each sale, assignment, transfer, conveyance, or pledge made by or security interest granted by a utility or affiliate of a utility or assignee is considered to be a transaction in the ordinary course of business. (d) (1) The description of storm recovery property being sold, assigned, or transferred to an assignee in any sale agreement, purchase agreement, or other transfer agreement, being encumbered, granted, or pledged to a secured party in any security agreement, pledge agreement, or other security document, or indicated in any financing statement is only sufficient if the description or indication refers to the specific financing order that created the storm recovery property and states that the agreement or financing statement covers all or part of the storm recovery property described in the financing order. (2) A description of storm recovery property in a financing statement shall be sufficient if it refers to the financing order creating the storm recovery property. (3) This subsection applies to all purported sales, assignments, or transfers of and all purported grants of liens or security interests in storm recovery property, regardless of whether the related sale agreement, purchase agreement, other transfer agreement, security agreement, pledge agreement, or other security document was entered into, or any financing statement was filed, before or after April 1, 2009. (e) (1) If a utility defaults on any required payment of charges arising from storm recovery property specified in a financing order, the court specified in § 23-18-903(f) upon application by an interested party and without limiting any other remedies available to the applying party shall order the sequestration and payment of the revenues arising from the storm recovery property to the financing parties or their representatives. (2) An order described in subdivision (e)(1) of this section shall remain in full force and effect notwithstanding any reorganization, bankruptcy, or other insolvency proceedings with respect to the utility or its successors or assigns. (f) The interest of a transferee, purchaser, acquirer, assignee, or secured party in storm recovery property specified in a financing order is not subject to setoff, counterclaim, surcharge, or defense by the utility or any other person or in connection with the reorganization, bankruptcy, or other insolvency of the utility, its successors or assignees, or any other entity. (g) Any successor to a utility, whether pursuant to any reorganization, bankruptcy, or other insolvency proceeding or whether pursuant to any merger or acquisition, sale, or other business combination or transfer by operation of law, as a result of utility restructuring or otherwise, shall perform and satisfy all obligations of, and have the same rights under a financing order as, the utility under the financing order in the same manner and to the same extent as the utility, including collecting and paying to the person entitled to receive them, the revenues, collections, payments, or proceeds of the storm recovery property. (h) Storm recovery bonds shall be nonrecourse to the credit or any assets of the utility other than the storm recovery property as specified in the financing order and any rights under any ancillary agreement. Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021. Acts 2009, No. 729, § 1.

(a) (1) All storm recovery property that is specified in a financing order shall constitute an existing, present intangible property right or interest therein, notwithstanding that the imposition and collection of storm recovery charges depend on the utility to which the financing order is issued performing its servicing functions relating to the collection of storm recovery charges and on future electricity or natural gas consumption. (2) The property shall exist whether or not the revenues or proceeds arising from the property have been billed, have accrued, or have been collected and notwithstanding the fact that the value or amount of the property is or may be dependent on the future provision of service to customers by the utility or its successors or assignees and the future consumption by customers of electricity or natural gas.

(1) All storm recovery property that is specified in a financing order shall constitute an existing, present intangible property right or interest therein, notwithstanding that the imposition and collection of storm recovery charges depend on the utility to which the financing order is issued performing its servicing functions relating to the collection of storm recovery charges and on future electricity or natural gas consumption.

(2) The property shall exist whether or not the revenues or proceeds arising from the property have been billed, have accrued, or have been collected and notwithstanding the fact that the value or amount of the property is or may be dependent on the future provision of service to customers by the utility or its successors or assignees and the future consumption by customers of electricity or natural gas.

(b) Storm recovery property specified in a financing order shall continue to exist until the storm recovery bonds issued pursuant to the financing order are indefeasibly paid in full and all financing costs of the bonds have been paid in full.

(c) (1) All or any portion of storm recovery property specified in a financing order issued to a utility, if storm recovery bonds are to be issued, shall be sold, assigned, or transferred to a successor or an assignee, including an affiliate or affiliates of the utility created for the limited purpose of acquiring, owning, or administering storm recovery property or issuing storm recovery bonds under the financing order. (2) All or any portion of storm recovery property may be encumbered by a security interest to secure storm recovery bonds issued pursuant to the financing order, amounts payable to financing parties and to counterparties under any ancillary agreements, and other financing costs. (3) Each sale, assignment, transfer, conveyance, or pledge made by or security interest granted by a utility or affiliate of a utility or assignee is considered to be a transaction in the ordinary course of business.

(1) All or any portion of storm recovery property specified in a financing order issued to a utility, if storm recovery bonds are to be issued, shall be sold, assigned, or transferred to a successor or an assignee, including an affiliate or affiliates of the utility created for the limited purpose of acquiring, owning, or administering storm recovery property or issuing storm recovery bonds under the financing order.

(2) All or any portion of storm recovery property may be encumbered by a security interest to secure storm recovery bonds issued pursuant to the financing order, amounts payable to financing parties and to counterparties under any ancillary agreements, and other financing costs.

(3) Each sale, assignment, transfer, conveyance, or pledge made by or security interest granted by a utility or affiliate of a utility or assignee is considered to be a transaction in the ordinary course of business.

(d) (1) The description of storm recovery property being sold, assigned, or transferred to an assignee in any sale agreement, purchase agreement, or other transfer agreement, being encumbered, granted, or pledged to a secured party in any security agreement, pledge agreement, or other security document, or indicated in any financing statement is only sufficient if the description or indication refers to the specific financing order that created the storm recovery property and states that the agreement or financing statement covers all or part of the storm recovery property described in the financing order. (2) A description of storm recovery property in a financing statement shall be sufficient if it refers to the financing order creating the storm recovery property. (3) This subsection applies to all purported sales, assignments, or transfers of and all purported grants of liens or security interests in storm recovery property, regardless of whether the related sale agreement, purchase agreement, other transfer agreement, security agreement, pledge agreement, or other security document was entered into, or any financing statement was filed, before or after April 1, 2009.

(1) The description of storm recovery property being sold, assigned, or transferred to an assignee in any sale agreement, purchase agreement, or other transfer agreement, being encumbered, granted, or pledged to a secured party in any security agreement, pledge agreement, or other security document, or indicated in any financing statement is only sufficient if the description or indication refers to the specific financing order that created the storm recovery property and states that the agreement or financing statement covers all or part of the storm recovery property described in the financing order.

(2) A description of storm recovery property in a financing statement shall be sufficient if it refers to the financing order creating the storm recovery property.

(3) This subsection applies to all purported sales, assignments, or transfers of and all purported grants of liens or security interests in storm recovery property, regardless of whether the related sale agreement, purchase agreement, other transfer agreement, security agreement, pledge agreement, or other security document was entered into, or any financing statement was filed, before or after April 1, 2009.

(e) (1) If a utility defaults on any required payment of charges arising from storm recovery property specified in a financing order, the court specified in § 23-18-903(f) upon application by an interested party and without limiting any other remedies available to the applying party shall order the sequestration and payment of the revenues arising from the storm recovery property to the financing parties or their representatives. (2) An order described in subdivision (e)(1) of this section shall remain in full force and effect notwithstanding any reorganization, bankruptcy, or other insolvency proceedings with respect to the utility or its successors or assigns.

(1) If a utility defaults on any required payment of charges arising from storm recovery property specified in a financing order, the court specified in § 23-18-903(f) upon application by an interested party and without limiting any other remedies available to the applying party shall order the sequestration and payment of the revenues arising from the storm recovery property to the financing parties or their representatives.

(2) An order described in subdivision (e)(1) of this section shall remain in full force and effect notwithstanding any reorganization, bankruptcy, or other insolvency proceedings with respect to the utility or its successors or assigns.

(f) The interest of a transferee, purchaser, acquirer, assignee, or secured party in storm recovery property specified in a financing order is not subject to setoff, counterclaim, surcharge, or defense by the utility or any other person or in connection with the reorganization, bankruptcy, or other insolvency of the utility, its successors or assignees, or any other entity.

(g) Any successor to a utility, whether pursuant to any reorganization, bankruptcy, or other insolvency proceeding or whether pursuant to any merger or acquisition, sale, or other business combination or transfer by operation of law, as a result of utility restructuring or otherwise, shall perform and satisfy all obligations of, and have the same rights under a financing order as, the utility under the financing order in the same manner and to the same extent as the utility, including collecting and paying to the person entitled to receive them, the revenues, collections, payments, or proceeds of the storm recovery property.

(h) Storm recovery bonds shall be nonrecourse to the credit or any assets of the utility other than the storm recovery property as specified in the financing order and any rights under any ancillary agreement.

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

Acts 2009, No. 729, § 1.
Ark. Code Ann. § 23-69-151 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-151
Voluntary dissolution - Procedure
Status: in_force

(a) (1) If while a domestic stock or mutual insurer is fully solvent and it is deemed by its board of directors to be in the best interests of the insurer and its stockholders or members that the insurer should be dissolved, the board of directors may adopt a resolution to that effect and call a special meeting of its stockholders or members to consider and take action upon a proposal to dissolve the insurer corporation. (2) The meeting shall be held upon not less than thirty (30) days' written notice to the stockholders or members in advance of the meeting. (3) The notice shall contain a statement of the dissolution proposal and be so given in the manner provided in the insurer's bylaws as for a special meeting of stockholders or members. (b) If, at the special meeting or any adjournment thereof, the holders of record of stock entitled to exercise two-thirds (2/3) of all the voting power on the proposal, or, if a mutual insurer, two-thirds (2/3) of the insurer's members present or represented by proxy at the meeting, shall by resolution consent that a dissolution shall take place, a copy of the resolution together with a list of the names and residences of the directors and officers, certified by the president or a vice president and the secretary or an assistant secretary or the treasurer or an assistant treasurer of the insurer, shall be filed in duplicate with the Insurance Commissioner, one (1) copy of which, bearing the certificate of the commissioner, shall be filed for record in the office of the county clerk of the county in which the office or principal place of business of the insurer is located in this state. (c) The effective date of the dissolution shall be the date on which the copy of the consent provided for in subsection (b) of this section is filed with the commissioner. (d) Whenever all the stockholders of record of a domestic stock insurer having power to vote on a proposal to dissolve, consent in writing to the dissolution, no meeting of stockholders shall be necessary, but on filing the consent, as provided in subsection (b) of this section, the commissioner shall issue a certificate of dissolution, which must be recorded with the county clerk of the county in which the insurer's principal place of business is located in this state. (e) No dissolution shall be effectuated, however, until after the insurer has reinsured in another authorized insurer or has otherwise terminated all its insurance then in force nor, in the case of a domestic mutual insurer, until after the proposed plan of dissolution together with the proposed plan for distribution of assets among the insurer's members has been filed with and approved by the commissioner after having been found by him or her to be fair and equitable as to the members. Acts 1959, No. 148, § 504; A.S.A. 1947, § 66-4252.

(a) (1) If while a domestic stock or mutual insurer is fully solvent and it is deemed by its board of directors to be in the best interests of the insurer and its stockholders or members that the insurer should be dissolved, the board of directors may adopt a resolution to that effect and call a special meeting of its stockholders or members to consider and take action upon a proposal to dissolve the insurer corporation. (2) The meeting shall be held upon not less than thirty (30) days' written notice to the stockholders or members in advance of the meeting. (3) The notice shall contain a statement of the dissolution proposal and be so given in the manner provided in the insurer's bylaws as for a special meeting of stockholders or members.

(1) If while a domestic stock or mutual insurer is fully solvent and it is deemed by its board of directors to be in the best interests of the insurer and its stockholders or members that the insurer should be dissolved, the board of directors may adopt a resolution to that effect and call a special meeting of its stockholders or members to consider and take action upon a proposal to dissolve the insurer corporation.

(2) The meeting shall be held upon not less than thirty (30) days' written notice to the stockholders or members in advance of the meeting.

(3) The notice shall contain a statement of the dissolution proposal and be so given in the manner provided in the insurer's bylaws as for a special meeting of stockholders or members.

(b) If, at the special meeting or any adjournment thereof, the holders of record of stock entitled to exercise two-thirds (2/3) of all the voting power on the proposal, or, if a mutual insurer, two-thirds (2/3) of the insurer's members present or represented by proxy at the meeting, shall by resolution consent that a dissolution shall take place, a copy of the resolution together with a list of the names and residences of the directors and officers, certified by the president or a vice president and the secretary or an assistant secretary or the treasurer or an assistant treasurer of the insurer, shall be filed in duplicate with the Insurance Commissioner, one (1) copy of which, bearing the certificate of the commissioner, shall be filed for record in the office of the county clerk of the county in which the office or principal place of business of the insurer is located in this state.

(c) The effective date of the dissolution shall be the date on which the copy of the consent provided for in subsection (b) of this section is filed with the commissioner.

(d) Whenever all the stockholders of record of a domestic stock insurer having power to vote on a proposal to dissolve, consent in writing to the dissolution, no meeting of stockholders shall be necessary, but on filing the consent, as provided in subsection (b) of this section, the commissioner shall issue a certificate of dissolution, which must be recorded with the county clerk of the county in which the insurer's principal place of business is located in this state.

(e) No dissolution shall be effectuated, however, until after the insurer has reinsured in another authorized insurer or has otherwise terminated all its insurance then in force nor, in the case of a domestic mutual insurer, until after the proposed plan of dissolution together with the proposed plan for distribution of assets among the insurer's members has been filed with and approved by the commissioner after having been found by him or her to be fair and equitable as to the members.

Acts 1959, No. 148, § 504; A.S.A. 1947, § 66-4252.
Ark. Code Ann. § 23-61-704 — AR Code / Title 23 / Chapter 61 / Subchapter 7 / Section 23-61-704
Insurers' payment extensions - Penalties for noncompliance - Commissioner's waiver for impaired or insolvent insurers
Status: in_force

(a) (1) The Insurance Commissioner may grant any licensed insurer an extension for reporting and payment of the annual administrative and financial regulation fee for good cause shown upon the written application of the licensed insurer received at the State Insurance Department on or before each annual due date. (2) Absent the commissioner's approval of such time extensions for good cause, licensed insurers failing timely to report or pay the administrative and financial regulation fee shall be subject to a penalty of one hundred dollars ($100) a day for each day of delinquency, payable to the State Insurance Department Trust Fund. (3) (A) The commissioner may pursue any appropriate legal remedies on behalf of the fund to collect the administrative and financial regulation fees and penalties due and unpaid from any delinquent insurer. (B) Further, the commissioner may in his or her discretion order suspension of the delinquent insurer's Arkansas certificate of authority after notice and hearing until payment of all such fees and penalties is remitted to the fund. (4) Absent a grant of his or her waiver for good cause shown, the commissioner may revoke the Arkansas certificate of authority of any delinquent insurer consistently refusing and failing without good cause to remit payment of those fees and penalties to the fund pursuant to this subchapter. (b) (1) The commissioner may in his or her discretion waive all or any part of the administrative and financial regulation fee due annually from a licensed insurer upon the suspension or revocation of the insurer's Arkansas certificate of authority, or upon issuance of a court order placing the company into conservation, rehabilitation, or liquidation in any state, or upon the commissioner's finding that the insurer is impaired or insolvent, or that its operations are hazardous to the insurance-buying public of this state. (2) Upon the reinstatement or activation of the insurer's Arkansas certificate of authority in good standing, the commissioner's waiver automatically terminates and the insurer shall be liable for payment of the administrative and financial regulation fee on the next succeeding March 1 without retroactive reimbursement for the amount of the fees which would normally have accrued during the waiver period. Acts 1993, No. 652, § 4.

(a) (1) The Insurance Commissioner may grant any licensed insurer an extension for reporting and payment of the annual administrative and financial regulation fee for good cause shown upon the written application of the licensed insurer received at the State Insurance Department on or before each annual due date. (2) Absent the commissioner's approval of such time extensions for good cause, licensed insurers failing timely to report or pay the administrative and financial regulation fee shall be subject to a penalty of one hundred dollars ($100) a day for each day of delinquency, payable to the State Insurance Department Trust Fund. (3) (A) The commissioner may pursue any appropriate legal remedies on behalf of the fund to collect the administrative and financial regulation fees and penalties due and unpaid from any delinquent insurer. (B) Further, the commissioner may in his or her discretion order suspension of the delinquent insurer's Arkansas certificate of authority after notice and hearing until payment of all such fees and penalties is remitted to the fund. (4) Absent a grant of his or her waiver for good cause shown, the commissioner may revoke the Arkansas certificate of authority of any delinquent insurer consistently refusing and failing without good cause to remit payment of those fees and penalties to the fund pursuant to this subchapter.

(1) The Insurance Commissioner may grant any licensed insurer an extension for reporting and payment of the annual administrative and financial regulation fee for good cause shown upon the written application of the licensed insurer received at the State Insurance Department on or before each annual due date.

(2) Absent the commissioner's approval of such time extensions for good cause, licensed insurers failing timely to report or pay the administrative and financial regulation fee shall be subject to a penalty of one hundred dollars ($100) a day for each day of delinquency, payable to the State Insurance Department Trust Fund.

(3) (A) The commissioner may pursue any appropriate legal remedies on behalf of the fund to collect the administrative and financial regulation fees and penalties due and unpaid from any delinquent insurer. (B) Further, the commissioner may in his or her discretion order suspension of the delinquent insurer's Arkansas certificate of authority after notice and hearing until payment of all such fees and penalties is remitted to the fund.

(A) The commissioner may pursue any appropriate legal remedies on behalf of the fund to collect the administrative and financial regulation fees and penalties due and unpaid from any delinquent insurer.

(B) Further, the commissioner may in his or her discretion order suspension of the delinquent insurer's Arkansas certificate of authority after notice and hearing until payment of all such fees and penalties is remitted to the fund.

(4) Absent a grant of his or her waiver for good cause shown, the commissioner may revoke the Arkansas certificate of authority of any delinquent insurer consistently refusing and failing without good cause to remit payment of those fees and penalties to the fund pursuant to this subchapter.

(b) (1) The commissioner may in his or her discretion waive all or any part of the administrative and financial regulation fee due annually from a licensed insurer upon the suspension or revocation of the insurer's Arkansas certificate of authority, or upon issuance of a court order placing the company into conservation, rehabilitation, or liquidation in any state, or upon the commissioner's finding that the insurer is impaired or insolvent, or that its operations are hazardous to the insurance-buying public of this state. (2) Upon the reinstatement or activation of the insurer's Arkansas certificate of authority in good standing, the commissioner's waiver automatically terminates and the insurer shall be liable for payment of the administrative and financial regulation fee on the next succeeding March 1 without retroactive reimbursement for the amount of the fees which would normally have accrued during the waiver period.

(1) The commissioner may in his or her discretion waive all or any part of the administrative and financial regulation fee due annually from a licensed insurer upon the suspension or revocation of the insurer's Arkansas certificate of authority, or upon issuance of a court order placing the company into conservation, rehabilitation, or liquidation in any state, or upon the commissioner's finding that the insurer is impaired or insolvent, or that its operations are hazardous to the insurance-buying public of this state.

(2) Upon the reinstatement or activation of the insurer's Arkansas certificate of authority in good standing, the commissioner's waiver automatically terminates and the insurer shall be liable for payment of the administrative and financial regulation fee on the next succeeding March 1 without retroactive reimbursement for the amount of the fees which would normally have accrued during the waiver period.

Acts 1993, No. 652, § 4.
Ark. Code Ann. § 23-81-405 — AR Code / Title 23 / Chapter 81 / Subchapter 4 / Section 23-81-405
Insurance Commissioner's authority to regulate
Status: in_force

Notwithstanding any other provision of law, the Insurance Commissioner shall have sole authority to regulate the issuance and sale of variable contracts and to issue such reasonable rules and regulations as may be appropriate to carry out the purposes and provisions of this subchapter. Acts 1975, No. 728, § 4; A.S.A. 1947, § 66-3340; Acts 2001, No. 1382, § 4.

Notwithstanding any other provision of law, the Insurance Commissioner shall have sole authority to regulate the issuance and sale of variable contracts and to issue such reasonable rules and regulations as may be appropriate to carry out the purposes and provisions of this subchapter.

Acts 1975, No. 728, § 4; A.S.A. 1947, § 66-3340; Acts 2001, No. 1382, § 4.
Ark. Code Ann. § 23-18-313 — AR Code / Title 23 / Chapter 18 / Subchapter 3 / Section 23-18-313
Articles of incorporation - Amendment
Status: in_force

(a) (1) A corporation may amend its articles of incorporation by a majority vote of the members who are present in person or by proxy at any regular meeting or at any special meeting of its members called for that purpose. (2) The power to amend shall include the power to accomplish any desired change in the provisions of its articles of incorporation and to include any purpose, power, or provision which would be authorized to be included in original articles of incorporation if executed at the time the amendment is made. (b) (1) Articles of amendment signed by the president or vice president and attested by the secretary certifying to the amendment and its lawful adoption shall be executed, acknowledged, filed, and recorded in the same manner as the original articles of incorporation of a corporation organized under this subchapter. (2) As soon as the Secretary of State has accepted the articles of amendment for filing and recording and issued a certificate of amendment, the amendment shall be in effect. Acts 1937, No. 342, § 26; Pope's Dig., § 2340; Acts 1953, No. 198, § 1; A.S.A. 1947, § 77-1126.

(a) (1) A corporation may amend its articles of incorporation by a majority vote of the members who are present in person or by proxy at any regular meeting or at any special meeting of its members called for that purpose. (2) The power to amend shall include the power to accomplish any desired change in the provisions of its articles of incorporation and to include any purpose, power, or provision which would be authorized to be included in original articles of incorporation if executed at the time the amendment is made.

(1) A corporation may amend its articles of incorporation by a majority vote of the members who are present in person or by proxy at any regular meeting or at any special meeting of its members called for that purpose.

(2) The power to amend shall include the power to accomplish any desired change in the provisions of its articles of incorporation and to include any purpose, power, or provision which would be authorized to be included in original articles of incorporation if executed at the time the amendment is made.

(b) (1) Articles of amendment signed by the president or vice president and attested by the secretary certifying to the amendment and its lawful adoption shall be executed, acknowledged, filed, and recorded in the same manner as the original articles of incorporation of a corporation organized under this subchapter. (2) As soon as the Secretary of State has accepted the articles of amendment for filing and recording and issued a certificate of amendment, the amendment shall be in effect.

(1) Articles of amendment signed by the president or vice president and attested by the secretary certifying to the amendment and its lawful adoption shall be executed, acknowledged, filed, and recorded in the same manner as the original articles of incorporation of a corporation organized under this subchapter.

(2) As soon as the Secretary of State has accepted the articles of amendment for filing and recording and issued a certificate of amendment, the amendment shall be in effect.

Acts 1937, No. 342, § 26; Pope's Dig., § 2340; Acts 1953, No. 198, § 1; A.S.A. 1947, § 77-1126.
Ark. Code Ann. § 23-86-501 — AR Code / Title 23 / Chapter 86 / Subchapter 5 / Section 23-86-501
Title
Status: in_force

This subchapter shall be known and cited as the "Small Employer Health Insurance Purchasing Group Act of 2001". Acts 2001, No. 925, § 1.

This subchapter shall be known and cited as the "Small Employer Health Insurance Purchasing Group Act of 2001".

Acts 2001, No. 925, § 1.
Ark. Code Ann. § 23-17-510 — AR Code / Title 23 / Chapter 17 / Subchapter 5 / Section 23-17-510
Permits
Status: in_force

(a) (1) This section applies to all permits required for the collocation of small wireless facilities and to the permitting of the installation, modification, and replacement of associated poles by a wireless provider that: (A) Is in an authority's right-of-way; or (B) Is in a right-of-way controlled by the Arkansas Department of Transportation located within the jurisdiction of an authority if the application is for collocation on an authority pole or if the authority has adopted aesthetic standards under § 23-17-508 . (2) A permit issued under subdivision (a)(1)(B) of this section remains subject to the rules of the department. (b) Except as provided in this subchapter, an authority shall not prohibit, regulate, or charge for the collocation of small wireless facilities or the installation, modification, or replacement of associated poles that may be permitted in this section. (c) An authority may require an applicant to obtain one (1) or more permits to collocate small wireless facilities or to install a new, modified, or replacement pole associated with a small wireless facility as provided in §§ 23-17-505 - 23-17-507 , provided the permits are of general applicability and do not apply exclusively to small wireless facilities. (d) An authority shall receive and process applications subject to the following requirements: (1) An authority shall not directly or indirectly require an applicant to perform services or provide goods unrelated to the permit, such as in-kind contributions to the authority, including without limitation reserving fiber, conduit, or space on the applicant's pole for the authority; (2) An authority may require an applicant to submit the information and fees stated in subdivisions (d)(2)(A)-(J) of this section for a permit for a deployment in the authority's right-of-way or on an authority pole in the right-of-way controlled by the department located within an authority and may only require an applicant to submit the information and fees stated in subdivisions (d)(2)(A)-(C) of this section and subdivision (d)(2)(J) of this section for deployments of or on poles that are not owned by the authority located in the right-of-way controlled by the department located within an authority: (A) Identification of the applicant; (B) A map or description of the location of the facilities; (C) An illustration that shows the final appearance of the facilities; (D) Engineering drawings of the facilities to be installed, including required make-ready work to be performed; (E) Electrical load information; (F) Pole loading calculations; (G) Worker safety information related to small-wireless-facility installation; (H) Evidence of bonding, if required; (I) Evidence of insurance, if required; and (J) Required application fees; (3) An authority shall not require: (A) The collocation of small wireless facilities on any specific pole or category of poles or require multiple antenna facilities on a single pole; (B) The use of specific pole types or configurations when installing new or replacement poles; or (C) The underground placements of small wireless facilities that are, or are designated in an application, to be pole-mounted or ground-mounted; (4) An authority shall not limit the collocation of small wireless facilities by minimum horizontal separation distance requirements from existing small wireless facilities, poles, or wireless support structures; (5) The applicant shall attest that the small wireless facilities will be operational for use by a wireless service provider within one (1) year after the permit issuance date, unless the authority and the applicant agree to extend this period or delay is caused by lack of commercial power, communications, transportation facilities to the site, or any other factors outside of the applicant's control; (6) (A) Within ten (10) days of receiving an application, an authority shall determine and notify the applicant in writing whether the application is complete. (B) If an application is incomplete, the authority shall specifically identify the missing information in writing. (C) The processing deadline in subdivision (d)(7) of this section shall restart at zero (0) on the date the applicant provides the missing information identified under subdivision (d)(6)(B) of this section to complete the application; (7) (A) Applications shall be processed on a nondiscriminatory basis within: (i) Sixty (60) days of receipt of an application for the collocation of a small wireless facility; and (ii) Ninety (90) days for an application to install, modify, or replace a pole on which a small wireless facility is or will be collocated. (B) The processing deadline may be tolled by agreement of the applicant and the authority. (C) If an authority fails to act on a complete application within the applicable deadline, the application shall be deemed to be approved ten (10) days after written notice is provided by the applicant to the authority that the time period for acting on the application has lapsed; (8) An authority may deny a proposed collocation of a small wireless facility or the installation, modification, or replacement of a pole in its right-of-way that meets the requirements in § 23-17-506(a) -(c) only if authorized under subdivision (d)(9) of this section or subdivision (d)(10) of this section or the proposed deployment: (A) Materially interferes with the safe operation of traffic control equipment; (B) Materially interferes with sight lines or clear zones for transportation or pedestrians; (C) Materially interferes with compliance with the Americans with Disabilities Act of 1990, Pub. L. No. 101-336, or similar federal or state standards regarding pedestrian access or movement; (D) Fails to comply with applicable codes; or (E) Fails to comply with § 23-17-506(d) and (e) and § 23-17-508 ; (9) An authority may deny a proposed collocation of a small wireless facility on an authority pole in a right-of-way controlled by the department located within the authority that meets the requirements in § 23-17-506 only if the proposed collocation meets the criteria in subdivision (d)(8)(A) of this section or subdivision (d)(8)(D) of this section or fails to comply with aesthetic standards adopted in an ordinance under § 23-17-508 ; (10) An authority may deny a proposed collocation of a small wireless facility or the installation, modification, or replacement of a pole in a right-of-way controlled by the department located within the authority that meets the requirements in § 23-17-506 only if the proposed deployment fails to comply with aesthetic standards adopted in an ordinance under § 23-17-508 ; (11) (A) The authority shall document the basis for a denial, including the specific code, rule, or statutory authority on which the denial is based, and send the documentation to the applicant on or before the day the authority denies an application. (B) The applicant may cure the deficiencies identified by the authority and resubmit the application within thirty (30) days of the denial without paying an additional application fee. (C) The authority shall approve or deny the revised application within thirty (30) days of resubmission and limit its review to the deficiencies cited in the denial; (12) (A) (i) An applicant seeking to collocate small wireless facilities within the jurisdiction of a single authority shall be allowed at the applicant's discretion to file a batched application for small wireless facilities and associated poles and receive a single permit for the collocation of multiple small wireless facilities and the placement of associated poles. (ii) However, the denial of one (1) or more small wireless facilities in a batched application shall not delay processing of any other small wireless facilities or poles in the same consolidated application. (B) Batched applications shall be collectively processed according to the procedures in this section. (C) A consolidated application that includes new pole deployments shall be subject to a ninety-day time frame for approval; (13) (A) Installation or collocation for which a permit is granted under this section shall be completed within one (1) year after the permit issuance date unless the authority and the applicant agree to extend this period or a delay is caused by circumstances beyond the applicant's control. (B) Approval of an application authorizes the applicant to undertake the installation or collocation; (14) Subject to applicable relocation requirements and the applicant's right to terminate at any time, the applicant shall operate and maintain the small wireless facilities and any associated poles covered by the permit for a period of not less than ten (10) years, which shall be renewed for equivalent durations so long as the small wireless facilities comply with the criteria stated in subdivision (d)(8) of this section; and (15) An authority shall not institute, either expressly or de facto, a moratorium on: (A) Filing, receiving, or processing applications; or (B) Issuing permits or other approvals, if any, for the collocation of small wireless facilities or the installation, modification, or replacement of associated poles. (e) (1) An authority shall not require an application for: (A) Routine maintenance; (B) The replacement of small wireless facilities with small wireless facilities that are substantially similar or the same size or smaller; or (C) The installation, placement, maintenance, operation, or replacement of a micro-wireless facility that is suspended on cables that are strung between existing poles and that complies with the applicable codes. (2) However, an authority may require a permit for work that requires excavation or closure of sidewalks or vehicular lanes within the right-of-way for the activities. (3) A permit shall be issued to the applicant on a nondiscriminatory basis upon terms and conditions applied to any other person's activities in the right-of-way that requires excavation, closing of sidewalks, or vehicular lanes. Added by Act 2019, No. 999,§ 1, eff. 9/1/2019. Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.

(a) (1) This section applies to all permits required for the collocation of small wireless facilities and to the permitting of the installation, modification, and replacement of associated poles by a wireless provider that: (A) Is in an authority's right-of-way; or (B) Is in a right-of-way controlled by the Arkansas Department of Transportation located within the jurisdiction of an authority if the application is for collocation on an authority pole or if the authority has adopted aesthetic standards under § 23-17-508 . (2) A permit issued under subdivision (a)(1)(B) of this section remains subject to the rules of the department.

(1) This section applies to all permits required for the collocation of small wireless facilities and to the permitting of the installation, modification, and replacement of associated poles by a wireless provider that: (A) Is in an authority's right-of-way; or (B) Is in a right-of-way controlled by the Arkansas Department of Transportation located within the jurisdiction of an authority if the application is for collocation on an authority pole or if the authority has adopted aesthetic standards under § 23-17-508 .

(A) Is in an authority's right-of-way; or

(B) Is in a right-of-way controlled by the Arkansas Department of Transportation located within the jurisdiction of an authority if the application is for collocation on an authority pole or if the authority has adopted aesthetic standards under § 23-17-508 .

(2) A permit issued under subdivision (a)(1)(B) of this section remains subject to the rules of the department.

(b) Except as provided in this subchapter, an authority shall not prohibit, regulate, or charge for the collocation of small wireless facilities or the installation, modification, or replacement of associated poles that may be permitted in this section.

(c) An authority may require an applicant to obtain one (1) or more permits to collocate small wireless facilities or to install a new, modified, or replacement pole associated with a small wireless facility as provided in §§ 23-17-505 - 23-17-507 , provided the permits are of general applicability and do not apply exclusively to small wireless facilities.

(d) An authority shall receive and process applications subject to the following requirements: (1) An authority shall not directly or indirectly require an applicant to perform services or provide goods unrelated to the permit, such as in-kind contributions to the authority, including without limitation reserving fiber, conduit, or space on the applicant's pole for the authority; (2) An authority may require an applicant to submit the information and fees stated in subdivisions (d)(2)(A)-(J) of this section for a permit for a deployment in the authority's right-of-way or on an authority pole in the right-of-way controlled by the department located within an authority and may only require an applicant to submit the information and fees stated in subdivisions (d)(2)(A)-(C) of this section and subdivision (d)(2)(J) of this section for deployments of or on poles that are not owned by the authority located in the right-of-way controlled by the department located within an authority: (A) Identification of the applicant; (B) A map or description of the location of the facilities; (C) An illustration that shows the final appearance of the facilities; (D) Engineering drawings of the facilities to be installed, including required make-ready work to be performed; (E) Electrical load information; (F) Pole loading calculations; (G) Worker safety information related to small-wireless-facility installation; (H) Evidence of bonding, if required; (I) Evidence of insurance, if required; and (J) Required application fees; (3) An authority shall not require: (A) The collocation of small wireless facilities on any specific pole or category of poles or require multiple antenna facilities on a single pole; (B) The use of specific pole types or configurations when installing new or replacement poles; or (C) The underground placements of small wireless facilities that are, or are designated in an application, to be pole-mounted or ground-mounted; (4) An authority shall not limit the collocation of small wireless facilities by minimum horizontal separation distance requirements from existing small wireless facilities, poles, or wireless support structures; (5) The applicant shall attest that the small wireless facilities will be operational for use by a wireless service provider within one (1) year after the permit issuance date, unless the authority and the applicant agree to extend this period or delay is caused by lack of commercial power, communications, transportation facilities to the site, or any other factors outside of the applicant's control; (6) (A) Within ten (10) days of receiving an application, an authority shall determine and notify the applicant in writing whether the application is complete. (B) If an application is incomplete, the authority shall specifically identify the missing information in writing. (C) The processing deadline in subdivision (d)(7) of this section shall restart at zero (0) on the date the applicant provides the missing information identified under subdivision (d)(6)(B) of this section to complete the application; (7) (A) Applications shall be processed on a nondiscriminatory basis within: (i) Sixty (60) days of receipt of an application for the collocation of a small wireless facility; and (ii) Ninety (90) days for an application to install, modify, or replace a pole on which a small wireless facility is or will be collocated. (B) The processing deadline may be tolled by agreement of the applicant and the authority. (C) If an authority fails to act on a complete application within the applicable deadline, the application shall be deemed to be approved ten (10) days after written notice is provided by the applicant to the authority that the time period for acting on the application has lapsed; (8) An authority may deny a proposed collocation of a small wireless facility or the installation, modification, or replacement of a pole in its right-of-way that meets the requirements in § 23-17-506(a) -(c) only if authorized under subdivision (d)(9) of this section or subdivision (d)(10) of this section or the proposed deployment: (A) Materially interferes with the safe operation of traffic control equipment; (B) Materially interferes with sight lines or clear zones for transportation or pedestrians; (C) Materially interferes with compliance with the Americans with Disabilities Act of 1990, Pub. L. No. 101-336, or similar federal or state standards regarding pedestrian access or movement; (D) Fails to comply with applicable codes; or (E) Fails to comply with § 23-17-506(d) and (e) and § 23-17-508 ; (9) An authority may deny a proposed collocation of a small wireless facility on an authority pole in a right-of-way controlled by the department located within the authority that meets the requirements in § 23-17-506 only if the proposed collocation meets the criteria in subdivision (d)(8)(A) of this section or subdivision (d)(8)(D) of this section or fails to comply with aesthetic standards adopted in an ordinance under § 23-17-508 ; (10) An authority may deny a proposed collocation of a small wireless facility or the installation, modification, or replacement of a pole in a right-of-way controlled by the department located within the authority that meets the requirements in § 23-17-506 only if the proposed deployment fails to comply with aesthetic standards adopted in an ordinance under § 23-17-508 ; (11) (A) The authority shall document the basis for a denial, including the specific code, rule, or statutory authority on which the denial is based, and send the documentation to the applicant on or before the day the authority denies an application. (B) The applicant may cure the deficiencies identified by the authority and resubmit the application within thirty (30) days of the denial without paying an additional application fee. (C) The authority shall approve or deny the revised application within thirty (30) days of resubmission and limit its review to the deficiencies cited in the denial; (12) (A) (i) An applicant seeking to collocate small wireless facilities within the jurisdiction of a single authority shall be allowed at the applicant's discretion to file a batched application for small wireless facilities and associated poles and receive a single permit for the collocation of multiple small wireless facilities and the placement of associated poles. (ii) However, the denial of one (1) or more small wireless facilities in a batched application shall not delay processing of any other small wireless facilities or poles in the same consolidated application. (B) Batched applications shall be collectively processed according to the procedures in this section. (C) A consolidated application that includes new pole deployments shall be subject to a ninety-day time frame for approval; (13) (A) Installation or collocation for which a permit is granted under this section shall be completed within one (1) year after the permit issuance date unless the authority and the applicant agree to extend this period or a delay is caused by circumstances beyond the applicant's control. (B) Approval of an application authorizes the applicant to undertake the installation or collocation; (14) Subject to applicable relocation requirements and the applicant's right to terminate at any time, the applicant shall operate and maintain the small wireless facilities and any associated poles covered by the permit for a period of not less than ten (10) years, which shall be renewed for equivalent durations so long as the small wireless facilities comply with the criteria stated in subdivision (d)(8) of this section; and (15) An authority shall not institute, either expressly or de facto, a moratorium on: (A) Filing, receiving, or processing applications; or (B) Issuing permits or other approvals, if any, for the collocation of small wireless facilities or the installation, modification, or replacement of associated poles.

(1) An authority shall not directly or indirectly require an applicant to perform services or provide goods unrelated to the permit, such as in-kind contributions to the authority, including without limitation reserving fiber, conduit, or space on the applicant's pole for the authority;

(2) An authority may require an applicant to submit the information and fees stated in subdivisions (d)(2)(A)-(J) of this section for a permit for a deployment in the authority's right-of-way or on an authority pole in the right-of-way controlled by the department located within an authority and may only require an applicant to submit the information and fees stated in subdivisions (d)(2)(A)-(C) of this section and subdivision (d)(2)(J) of this section for deployments of or on poles that are not owned by the authority located in the right-of-way controlled by the department located within an authority: (A) Identification of the applicant; (B) A map or description of the location of the facilities; (C) An illustration that shows the final appearance of the facilities; (D) Engineering drawings of the facilities to be installed, including required make-ready work to be performed; (E) Electrical load information; (F) Pole loading calculations; (G) Worker safety information related to small-wireless-facility installation; (H) Evidence of bonding, if required; (I) Evidence of insurance, if required; and (J) Required application fees;

(A) Identification of the applicant;

(B) A map or description of the location of the facilities;

(C) An illustration that shows the final appearance of the facilities;

(D) Engineering drawings of the facilities to be installed, including required make-ready work to be performed;

(E) Electrical load information;

(F) Pole loading calculations;

(G) Worker safety information related to small-wireless-facility installation;

(H) Evidence of bonding, if required;

(I) Evidence of insurance, if required; and

(J) Required application fees;

(3) An authority shall not require: (A) The collocation of small wireless facilities on any specific pole or category of poles or require multiple antenna facilities on a single pole; (B) The use of specific pole types or configurations when installing new or replacement poles; or (C) The underground placements of small wireless facilities that are, or are designated in an application, to be pole-mounted or ground-mounted;

(A) The collocation of small wireless facilities on any specific pole or category of poles or require multiple antenna facilities on a single pole;

(B) The use of specific pole types or configurations when installing new or replacement poles; or

(C) The underground placements of small wireless facilities that are, or are designated in an application, to be pole-mounted or ground-mounted;

(4) An authority shall not limit the collocation of small wireless facilities by minimum horizontal separation distance requirements from existing small wireless facilities, poles, or wireless support structures;

(5) The applicant shall attest that the small wireless facilities will be operational for use by a wireless service provider within one (1) year after the permit issuance date, unless the authority and the applicant agree to extend this period or delay is caused by lack of commercial power, communications, transportation facilities to the site, or any other factors outside of the applicant's control;

(6) (A) Within ten (10) days of receiving an application, an authority shall determine and notify the applicant in writing whether the application is complete. (B) If an application is incomplete, the authority shall specifically identify the missing information in writing. (C) The processing deadline in subdivision (d)(7) of this section shall restart at zero (0) on the date the applicant provides the missing information identified under subdivision (d)(6)(B) of this section to complete the application;

(A) Within ten (10) days of receiving an application, an authority shall determine and notify the applicant in writing whether the application is complete.

(B) If an application is incomplete, the authority shall specifically identify the missing information in writing.

(C) The processing deadline in subdivision (d)(7) of this section shall restart at zero (0) on the date the applicant provides the missing information identified under subdivision (d)(6)(B) of this section to complete the application;

(7) (A) Applications shall be processed on a nondiscriminatory basis within: (i) Sixty (60) days of receipt of an application for the collocation of a small wireless facility; and (ii) Ninety (90) days for an application to install, modify, or replace a pole on which a small wireless facility is or will be collocated. (B) The processing deadline may be tolled by agreement of the applicant and the authority. (C) If an authority fails to act on a complete application within the applicable deadline, the application shall be deemed to be approved ten (10) days after written notice is provided by the applicant to the authority that the time period for acting on the application has lapsed;

(A) Applications shall be processed on a nondiscriminatory basis within: (i) Sixty (60) days of receipt of an application for the collocation of a small wireless facility; and (ii) Ninety (90) days for an application to install, modify, or replace a pole on which a small wireless facility is or will be collocated.

(i) Sixty (60) days of receipt of an application for the collocation of a small wireless facility; and

(ii) Ninety (90) days for an application to install, modify, or replace a pole on which a small wireless facility is or will be collocated.

(B) The processing deadline may be tolled by agreement of the applicant and the authority.

(C) If an authority fails to act on a complete application within the applicable deadline, the application shall be deemed to be approved ten (10) days after written notice is provided by the applicant to the authority that the time period for acting on the application has lapsed;

(8) An authority may deny a proposed collocation of a small wireless facility or the installation, modification, or replacement of a pole in its right-of-way that meets the requirements in § 23-17-506(a) -(c) only if authorized under subdivision (d)(9) of this section or subdivision (d)(10) of this section or the proposed deployment: (A) Materially interferes with the safe operation of traffic control equipment; (B) Materially interferes with sight lines or clear zones for transportation or pedestrians; (C) Materially interferes with compliance with the Americans with Disabilities Act of 1990, Pub. L. No. 101-336, or similar federal or state standards regarding pedestrian access or movement; (D) Fails to comply with applicable codes; or (E) Fails to comply with § 23-17-506(d) and (e) and § 23-17-508 ;

(A) Materially interferes with the safe operation of traffic control equipment;

(B) Materially interferes with sight lines or clear zones for transportation or pedestrians;

(C) Materially interferes with compliance with the Americans with Disabilities Act of 1990, Pub. L. No. 101-336, or similar federal or state standards regarding pedestrian access or movement;

(D) Fails to comply with applicable codes; or

(E) Fails to comply with § 23-17-506(d) and (e) and § 23-17-508 ;

(9) An authority may deny a proposed collocation of a small wireless facility on an authority pole in a right-of-way controlled by the department located within the authority that meets the requirements in § 23-17-506 only if the proposed collocation meets the criteria in subdivision (d)(8)(A) of this section or subdivision (d)(8)(D) of this section or fails to comply with aesthetic standards adopted in an ordinance under § 23-17-508 ;

(10) An authority may deny a proposed collocation of a small wireless facility or the installation, modification, or replacement of a pole in a right-of-way controlled by the department located within the authority that meets the requirements in § 23-17-506 only if the proposed deployment fails to comply with aesthetic standards adopted in an ordinance under § 23-17-508 ;

(11) (A) The authority shall document the basis for a denial, including the specific code, rule, or statutory authority on which the denial is based, and send the documentation to the applicant on or before the day the authority denies an application. (B) The applicant may cure the deficiencies identified by the authority and resubmit the application within thirty (30) days of the denial without paying an additional application fee. (C) The authority shall approve or deny the revised application within thirty (30) days of resubmission and limit its review to the deficiencies cited in the denial;

(A) The authority shall document the basis for a denial, including the specific code, rule, or statutory authority on which the denial is based, and send the documentation to the applicant on or before the day the authority denies an application.

(B) The applicant may cure the deficiencies identified by the authority and resubmit the application within thirty (30) days of the denial without paying an additional application fee.

(C) The authority shall approve or deny the revised application within thirty (30) days of resubmission and limit its review to the deficiencies cited in the denial;

(12) (A) (i) An applicant seeking to collocate small wireless facilities within the jurisdiction of a single authority shall be allowed at the applicant's discretion to file a batched application for small wireless facilities and associated poles and receive a single permit for the collocation of multiple small wireless facilities and the placement of associated poles. (ii) However, the denial of one (1) or more small wireless facilities in a batched application shall not delay processing of any other small wireless facilities or poles in the same consolidated application. (B) Batched applications shall be collectively processed according to the procedures in this section. (C) A consolidated application that includes new pole deployments shall be subject to a ninety-day time frame for approval;

(A) (i) An applicant seeking to collocate small wireless facilities within the jurisdiction of a single authority shall be allowed at the applicant's discretion to file a batched application for small wireless facilities and associated poles and receive a single permit for the collocation of multiple small wireless facilities and the placement of associated poles. (ii) However, the denial of one (1) or more small wireless facilities in a batched application shall not delay processing of any other small wireless facilities or poles in the same consolidated application.

(i) An applicant seeking to collocate small wireless facilities within the jurisdiction of a single authority shall be allowed at the applicant's discretion to file a batched application for small wireless facilities and associated poles and receive a single permit for the collocation of multiple small wireless facilities and the placement of associated poles.

(ii) However, the denial of one (1) or more small wireless facilities in a batched application shall not delay processing of any other small wireless facilities or poles in the same consolidated application.

(B) Batched applications shall be collectively processed according to the procedures in this section.

(C) A consolidated application that includes new pole deployments shall be subject to a ninety-day time frame for approval;

(13) (A) Installation or collocation for which a permit is granted under this section shall be completed within one (1) year after the permit issuance date unless the authority and the applicant agree to extend this period or a delay is caused by circumstances beyond the applicant's control. (B) Approval of an application authorizes the applicant to undertake the installation or collocation;

(A) Installation or collocation for which a permit is granted under this section shall be completed within one (1) year after the permit issuance date unless the authority and the applicant agree to extend this period or a delay is caused by circumstances beyond the applicant's control.

(B) Approval of an application authorizes the applicant to undertake the installation or collocation;

(14) Subject to applicable relocation requirements and the applicant's right to terminate at any time, the applicant shall operate and maintain the small wireless facilities and any associated poles covered by the permit for a period of not less than ten (10) years, which shall be renewed for equivalent durations so long as the small wireless facilities comply with the criteria stated in subdivision (d)(8) of this section; and

(15) An authority shall not institute, either expressly or de facto, a moratorium on: (A) Filing, receiving, or processing applications; or (B) Issuing permits or other approvals, if any, for the collocation of small wireless facilities or the installation, modification, or replacement of associated poles.

(A) Filing, receiving, or processing applications; or

(B) Issuing permits or other approvals, if any, for the collocation of small wireless facilities or the installation, modification, or replacement of associated poles.

(e) (1) An authority shall not require an application for: (A) Routine maintenance; (B) The replacement of small wireless facilities with small wireless facilities that are substantially similar or the same size or smaller; or (C) The installation, placement, maintenance, operation, or replacement of a micro-wireless facility that is suspended on cables that are strung between existing poles and that complies with the applicable codes. (2) However, an authority may require a permit for work that requires excavation or closure of sidewalks or vehicular lanes within the right-of-way for the activities. (3) A permit shall be issued to the applicant on a nondiscriminatory basis upon terms and conditions applied to any other person's activities in the right-of-way that requires excavation, closing of sidewalks, or vehicular lanes.

(1) An authority shall not require an application for: (A) Routine maintenance; (B) The replacement of small wireless facilities with small wireless facilities that are substantially similar or the same size or smaller; or (C) The installation, placement, maintenance, operation, or replacement of a micro-wireless facility that is suspended on cables that are strung between existing poles and that complies with the applicable codes.

(A) Routine maintenance;

(B) The replacement of small wireless facilities with small wireless facilities that are substantially similar or the same size or smaller; or

(C) The installation, placement, maintenance, operation, or replacement of a micro-wireless facility that is suspended on cables that are strung between existing poles and that complies with the applicable codes.

(2) However, an authority may require a permit for work that requires excavation or closure of sidewalks or vehicular lanes within the right-of-way for the activities.

(3) A permit shall be issued to the applicant on a nondiscriminatory basis upon terms and conditions applied to any other person's activities in the right-of-way that requires excavation, closing of sidewalks, or vehicular lanes.

Added by Act 2019, No. 999,§ 1, eff. 9/1/2019.

Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.
Ark. Code Ann. § 23-42-503 — AR Code / Title 23 / Chapter 42 / Subchapter 5 / Section 23-42-503
Exempted securities
Status: in_force

(a) The following securities are exempted from §§ 23-42-501 and 23-42-502 : (1) (A) Any security, including a revenue obligation, issued or guaranteed by this state, any political subdivision of this state, or any agency or corporate or other instrumentality of one (1) or more of the foregoing, or any certificate of deposit for any of the foregoing. (B) Any securities that are offered and sold pursuant to section 4(5) of the Securities Act of 1933 or that are "mortgage related securities" as that term is defined in section 3(a)(41) of the Securities Exchange Act of 1934 are not covered securities in the same manner as obligations issued or guaranteed as to principal and interest by the United States or any agency or instrumentality thereof. These instruments, commonly referred to as private mortgage-backed securities, may be exempt from the registration requirements of this chapter, provided that the transaction or the securities are otherwise exempt under this section. This provision specifically overrides the preemption of state law contained in section 106(c) of the Secondary Mortgage Market Enhancement Act of 1984, Pub. L. No. 98-440, of the United States; (2) Any security issued or guaranteed by Canada, any Canadian province, any political subdivision of any Canadian province, any agency or corporate or other instrumentality of one (1) or more of the foregoing, or by any other foreign government with which the United States currently maintains diplomatic relations, if the security is recognized as a valid obligation by the issuer or guarantor; (3) Any security issued by and representing an interest in or a debt of any bank organized under the laws of the United States, or any federally insured savings bank, or any bank, savings institution, or trust company organized and supervised under the laws of any state, or any bank holding company regulated under the Bank Holding Company Act of 1956; (4) Any security issued by and representing an interest in or a debt of any state or federal savings and loan association, or any federally insured savings bank, or any building and loan or similar association organized under the laws of any state and authorized to do business in this state, or any savings and loan holding company regulated by the Office of Thrift Supervision [abolished] or its successor; (5) Any security issued or guaranteed by any public utility or holding company which is: (A) A registered holding company under the Public Utility Holding Company Act of 1935 or a subsidiary of such a company within the meaning of that act; (B) Regulated in respect of its rates and charges by a governmental authority of the United States or any state; or (C) Regulated in respect of the issuance or guarantee of the security by a governmental authority of the United States, any state, Canada, or any Canadian province; (6) Any security of a world-class foreign issuer that meets the qualifications as set forth by rule of the Securities Commissioner; (7) Any security issued by any person organized and operated not for private profit but exclusively for religious, educational, benevolent, charitable, fraternal, social, athletic, or reformatory purposes, or as a chamber of commerce or trade or professional association. Section 6(c) of the Philanthropy Protection Act of 1995, Pub. L. No. 104-62, of the United States shall not preempt any provision of this chapter; (8) Any investment contract or other security issued in connection with an employees' stock purchase, savings, pension, profit sharing, stock bonus, stock option, or similar benefit plan. Plans which do not meet the requirements for qualification under the Internal Revenue Code must file with the commissioner prior to any offer or sale a notice specifying the terms of the plan. The commissioner may by order disallow the exemption within ten (10) days; and (9) Any security as to which the commissioner by rule or order finds that registration is not necessary or appropriate in the public interest or for the protection of investors. (b) The commissioner may, from time to time, by his or her rules, and subject to any terms, conditions, and fees which may be prescribed therein, add any class of securities to the securities exempted as provided in this section if the commissioner finds that the enforcement of this chapter with respect to the securities is not necessary in the public interest and for the protection of investors by reason of the small amount involved or the limited character of the public offering, but no issue of securities shall be exempted under this section when the aggregate amount at which the issue is offered to the public exceeds one million dollars ($1,000,000). (c) The following apply to a cooperative organized under the laws of this state as a business corporation but operated as a cooperative, or organized and operated in this state under laws addressing cooperatives, § 2-2-101 et seq., §§ 2-2-401 - 2-2-411 , 2-2-413 - 2-2-430 , 4-30-101 - 4-30-118 , 4-30-201 , 4-30-202 , and 4-30-204 - 4-30-207 , and to any nonprofit cooperative that is qualified to do business in this state: (1) Any common stock, preferred stock, promissory note, debenture, or other security may be issued to any cooperative member, if no commission or other remuneration is paid in connection with the sale or issuance of the securities or a registered agent is used, after either: (A) Compliance with subsection (d) of this section; or (B) Delivery to the cooperative member and filing, with the commissioner, of financial statements of the cooperative for each of the two (2) fiscal years as of a date not earlier than four hundred fifty-five (455) days before the issuance of the security, all of which statements shall have been audited, examined, and certified by independent public accountants to have been prepared in accordance with generally accepted accounting principles consistently maintained by the cooperative during the fiscal years represented by the statements; (2) Any interest or agreement that qualifies its holder to be a member or other patron of a cooperative or that represents the terms or conditions by which members or other patrons conduct permitted business of a cooperative as set forth in § 2-2-101 et seq.; the Cooperative Marketing Act, § 2-2-401 et seq.; § 4-30-101 et seq.; and §§ 4-30-201 - 4-30-207 , or which represents a capital retain, or patronage distribution issued by a cooperative solely to its members or other patrons shall not be considered to be a security under this chapter and shall not be subject to the provisions of this chapter, provided: (A) The instruments or interests are properly identified and not labeled with the traditional names of investment securities as defined by § 23-42-102(17) ; (B) The instruments or interests are not part of a class of instruments or interests regularly bought or sold for investment purposes or for which an active trading market exists. However, this limitation shall not in any way restrict the bona fide pledge of the instruments or interests; and (C) No commission or other remuneration is paid in connection with the sale or issuance to members or other patrons of the interests and instruments. This exemption shall not apply to those interests or instruments which possess the characteristics of an investment contract or other security as interpreted under the laws of the State of Arkansas; and (3) The commissioner may render foreign nonprofit cooperatives the privilege afforded Arkansas nonprofit cooperatives set forth in subdivision (c)(2) of this section, provided the foreign cooperative first files supporting documents verifying that it is qualified to do business in Arkansas, that members have substantially the same rights as members of cooperatives organized under the nonprofit cooperative corporate laws of this state, that the offering is within the scope of subdivision (c)(2) of this section, and any other information which the commissioner deems appropriate. (d) (1) Before any security may be issued as an exempted security under subdivision (a)(7) of this section or subdivision (c)(1)(A) of this section, a proof of exemption must first be filed with the commissioner, and the commissioner by order shall not have disallowed the exemption within the next ten (10) full business days. (2) The proof of exemption shall contain a statement of the grounds upon which the exemption is claimed and a designation of the subsection of this section under which the exemption is claimed. (3) Proofs of exemption which have not been completed within a period of one hundred eighty (180) days after filing with the commissioner may be deemed abandoned and considered withdrawn by the applicant, provided the applicant has been notified of the deficiencies to the proof and afforded a reasonable opportunity to correct the deficiencies. (4) Each offering shall be effective only for twelve (12) consecutive months. (5) For every proof of exemption filed with the commissioner under: (A) Subdivision (a)(7) of this section, there shall be paid to the commissioner a filing fee of five hundred dollars ($500); and (B) Subdivision (c)(1)(A) of this section, there shall be paid to the commissioner a filing fee of one hundred dollars ($100). Amended by Act 2017, No. 668,§ 22, eff. 8/1/2017. Acts 1959, No. 254, § 14; 1961, No. 248, § 7; 1973, No. 47, §§ 12, 14; 1975, No. 697, § 1; 1975, No. 844, §§ 7, 8, 11; 1977, No. 493, §§ 6, 7, 10; 1979, No. 754, §§ 2, 8; 1983, No. 836, §§ 14, 15; 1985, No. 939, §§ 5-8; A.S.A. 1947, §§ 67-1247, 67-1248; Acts 1987, No. 776, § 2; 1989, No. 348, § 1; 1993, No. 1147, § 1807; 1995, No. 845, §§ 25, 26; 1997, No. 173, § 20; 2005, No. 420, § 2.

(a) The following securities are exempted from §§ 23-42-501 and 23-42-502 : (1) (A) Any security, including a revenue obligation, issued or guaranteed by this state, any political subdivision of this state, or any agency or corporate or other instrumentality of one (1) or more of the foregoing, or any certificate of deposit for any of the foregoing. (B) Any securities that are offered and sold pursuant to section 4(5) of the Securities Act of 1933 or that are "mortgage related securities" as that term is defined in section 3(a)(41) of the Securities Exchange Act of 1934 are not covered securities in the same manner as obligations issued or guaranteed as to principal and interest by the United States or any agency or instrumentality thereof. These instruments, commonly referred to as private mortgage-backed securities, may be exempt from the registration requirements of this chapter, provided that the transaction or the securities are otherwise exempt under this section. This provision specifically overrides the preemption of state law contained in section 106(c) of the Secondary Mortgage Market Enhancement Act of 1984, Pub. L. No. 98-440, of the United States; (2) Any security issued or guaranteed by Canada, any Canadian province, any political subdivision of any Canadian province, any agency or corporate or other instrumentality of one (1) or more of the foregoing, or by any other foreign government with which the United States currently maintains diplomatic relations, if the security is recognized as a valid obligation by the issuer or guarantor; (3) Any security issued by and representing an interest in or a debt of any bank organized under the laws of the United States, or any federally insured savings bank, or any bank, savings institution, or trust company organized and supervised under the laws of any state, or any bank holding company regulated under the Bank Holding Company Act of 1956; (4) Any security issued by and representing an interest in or a debt of any state or federal savings and loan association, or any federally insured savings bank, or any building and loan or similar association organized under the laws of any state and authorized to do business in this state, or any savings and loan holding company regulated by the Office of Thrift Supervision [abolished] or its successor; (5) Any security issued or guaranteed by any public utility or holding company which is: (A) A registered holding company under the Public Utility Holding Company Act of 1935 or a subsidiary of such a company within the meaning of that act; (B) Regulated in respect of its rates and charges by a governmental authority of the United States or any state; or (C) Regulated in respect of the issuance or guarantee of the security by a governmental authority of the United States, any state, Canada, or any Canadian province; (6) Any security of a world-class foreign issuer that meets the qualifications as set forth by rule of the Securities Commissioner; (7) Any security issued by any person organized and operated not for private profit but exclusively for religious, educational, benevolent, charitable, fraternal, social, athletic, or reformatory purposes, or as a chamber of commerce or trade or professional association. Section 6(c) of the Philanthropy Protection Act of 1995, Pub. L. No. 104-62, of the United States shall not preempt any provision of this chapter; (8) Any investment contract or other security issued in connection with an employees' stock purchase, savings, pension, profit sharing, stock bonus, stock option, or similar benefit plan. Plans which do not meet the requirements for qualification under the Internal Revenue Code must file with the commissioner prior to any offer or sale a notice specifying the terms of the plan. The commissioner may by order disallow the exemption within ten (10) days; and (9) Any security as to which the commissioner by rule or order finds that registration is not necessary or appropriate in the public interest or for the protection of investors.

(1) (A) Any security, including a revenue obligation, issued or guaranteed by this state, any political subdivision of this state, or any agency or corporate or other instrumentality of one (1) or more of the foregoing, or any certificate of deposit for any of the foregoing. (B) Any securities that are offered and sold pursuant to section 4(5) of the Securities Act of 1933 or that are "mortgage related securities" as that term is defined in section 3(a)(41) of the Securities Exchange Act of 1934 are not covered securities in the same manner as obligations issued or guaranteed as to principal and interest by the United States or any agency or instrumentality thereof. These instruments, commonly referred to as private mortgage-backed securities, may be exempt from the registration requirements of this chapter, provided that the transaction or the securities are otherwise exempt under this section. This provision specifically overrides the preemption of state law contained in section 106(c) of the Secondary Mortgage Market Enhancement Act of 1984, Pub. L. No. 98-440, of the United States;

(A) Any security, including a revenue obligation, issued or guaranteed by this state, any political subdivision of this state, or any agency or corporate or other instrumentality of one (1) or more of the foregoing, or any certificate of deposit for any of the foregoing.

(B) Any securities that are offered and sold pursuant to section 4(5) of the Securities Act of 1933 or that are "mortgage related securities" as that term is defined in section 3(a)(41) of the Securities Exchange Act of 1934 are not covered securities in the same manner as obligations issued or guaranteed as to principal and interest by the United States or any agency or instrumentality thereof. These instruments, commonly referred to as private mortgage-backed securities, may be exempt from the registration requirements of this chapter, provided that the transaction or the securities are otherwise exempt under this section. This provision specifically overrides the preemption of state law contained in section 106(c) of the Secondary Mortgage Market Enhancement Act of 1984, Pub. L. No. 98-440, of the United States;

(2) Any security issued or guaranteed by Canada, any Canadian province, any political subdivision of any Canadian province, any agency or corporate or other instrumentality of one (1) or more of the foregoing, or by any other foreign government with which the United States currently maintains diplomatic relations, if the security is recognized as a valid obligation by the issuer or guarantor;

(3) Any security issued by and representing an interest in or a debt of any bank organized under the laws of the United States, or any federally insured savings bank, or any bank, savings institution, or trust company organized and supervised under the laws of any state, or any bank holding company regulated under the Bank Holding Company Act of 1956;

(4) Any security issued by and representing an interest in or a debt of any state or federal savings and loan association, or any federally insured savings bank, or any building and loan or similar association organized under the laws of any state and authorized to do business in this state, or any savings and loan holding company regulated by the Office of Thrift Supervision [abolished] or its successor;

(5) Any security issued or guaranteed by any public utility or holding company which is: (A) A registered holding company under the Public Utility Holding Company Act of 1935 or a subsidiary of such a company within the meaning of that act; (B) Regulated in respect of its rates and charges by a governmental authority of the United States or any state; or (C) Regulated in respect of the issuance or guarantee of the security by a governmental authority of the United States, any state, Canada, or any Canadian province;

(A) A registered holding company under the Public Utility Holding Company Act of 1935 or a subsidiary of such a company within the meaning of that act;

(B) Regulated in respect of its rates and charges by a governmental authority of the United States or any state; or

(C) Regulated in respect of the issuance or guarantee of the security by a governmental authority of the United States, any state, Canada, or any Canadian province;

(6) Any security of a world-class foreign issuer that meets the qualifications as set forth by rule of the Securities Commissioner;

(7) Any security issued by any person organized and operated not for private profit but exclusively for religious, educational, benevolent, charitable, fraternal, social, athletic, or reformatory purposes, or as a chamber of commerce or trade or professional association. Section 6(c) of the Philanthropy Protection Act of 1995, Pub. L. No. 104-62, of the United States shall not preempt any provision of this chapter;

(8) Any investment contract or other security issued in connection with an employees' stock purchase, savings, pension, profit sharing, stock bonus, stock option, or similar benefit plan. Plans which do not meet the requirements for qualification under the Internal Revenue Code must file with the commissioner prior to any offer or sale a notice specifying the terms of the plan. The commissioner may by order disallow the exemption within ten (10) days; and

(9) Any security as to which the commissioner by rule or order finds that registration is not necessary or appropriate in the public interest or for the protection of investors.

(b) The commissioner may, from time to time, by his or her rules, and subject to any terms, conditions, and fees which may be prescribed therein, add any class of securities to the securities exempted as provided in this section if the commissioner finds that the enforcement of this chapter with respect to the securities is not necessary in the public interest and for the protection of investors by reason of the small amount involved or the limited character of the public offering, but no issue of securities shall be exempted under this section when the aggregate amount at which the issue is offered to the public exceeds one million dollars ($1,000,000).

(c) The following apply to a cooperative organized under the laws of this state as a business corporation but operated as a cooperative, or organized and operated in this state under laws addressing cooperatives, § 2-2-101 et seq., §§ 2-2-401 - 2-2-411 , 2-2-413 - 2-2-430 , 4-30-101 - 4-30-118 , 4-30-201 , 4-30-202 , and 4-30-204 - 4-30-207 , and to any nonprofit cooperative that is qualified to do business in this state: (1) Any common stock, preferred stock, promissory note, debenture, or other security may be issued to any cooperative member, if no commission or other remuneration is paid in connection with the sale or issuance of the securities or a registered agent is used, after either: (A) Compliance with subsection (d) of this section; or (B) Delivery to the cooperative member and filing, with the commissioner, of financial statements of the cooperative for each of the two (2) fiscal years as of a date not earlier than four hundred fifty-five (455) days before the issuance of the security, all of which statements shall have been audited, examined, and certified by independent public accountants to have been prepared in accordance with generally accepted accounting principles consistently maintained by the cooperative during the fiscal years represented by the statements; (2) Any interest or agreement that qualifies its holder to be a member or other patron of a cooperative or that represents the terms or conditions by which members or other patrons conduct permitted business of a cooperative as set forth in § 2-2-101 et seq.; the Cooperative Marketing Act, § 2-2-401 et seq.; § 4-30-101 et seq.; and §§ 4-30-201 - 4-30-207 , or which represents a capital retain, or patronage distribution issued by a cooperative solely to its members or other patrons shall not be considered to be a security under this chapter and shall not be subject to the provisions of this chapter, provided: (A) The instruments or interests are properly identified and not labeled with the traditional names of investment securities as defined by § 23-42-102(17) ; (B) The instruments or interests are not part of a class of instruments or interests regularly bought or sold for investment purposes or for which an active trading market exists. However, this limitation shall not in any way restrict the bona fide pledge of the instruments or interests; and (C) No commission or other remuneration is paid in connection with the sale or issuance to members or other patrons of the interests and instruments. This exemption shall not apply to those interests or instruments which possess the characteristics of an investment contract or other security as interpreted under the laws of the State of Arkansas; and (3) The commissioner may render foreign nonprofit cooperatives the privilege afforded Arkansas nonprofit cooperatives set forth in subdivision (c)(2) of this section, provided the foreign cooperative first files supporting documents verifying that it is qualified to do business in Arkansas, that members have substantially the same rights as members of cooperatives organized under the nonprofit cooperative corporate laws of this state, that the offering is within the scope of subdivision (c)(2) of this section, and any other information which the commissioner deems appropriate.

(1) Any common stock, preferred stock, promissory note, debenture, or other security may be issued to any cooperative member, if no commission or other remuneration is paid in connection with the sale or issuance of the securities or a registered agent is used, after either: (A) Compliance with subsection (d) of this section; or (B) Delivery to the cooperative member and filing, with the commissioner, of financial statements of the cooperative for each of the two (2) fiscal years as of a date not earlier than four hundred fifty-five (455) days before the issuance of the security, all of which statements shall have been audited, examined, and certified by independent public accountants to have been prepared in accordance with generally accepted accounting principles consistently maintained by the cooperative during the fiscal years represented by the statements;

(A) Compliance with subsection (d) of this section; or

(B) Delivery to the cooperative member and filing, with the commissioner, of financial statements of the cooperative for each of the two (2) fiscal years as of a date not earlier than four hundred fifty-five (455) days before the issuance of the security, all of which statements shall have been audited, examined, and certified by independent public accountants to have been prepared in accordance with generally accepted accounting principles consistently maintained by the cooperative during the fiscal years represented by the statements;

(2) Any interest or agreement that qualifies its holder to be a member or other patron of a cooperative or that represents the terms or conditions by which members or other patrons conduct permitted business of a cooperative as set forth in § 2-2-101 et seq.; the Cooperative Marketing Act, § 2-2-401 et seq.; § 4-30-101 et seq.; and §§ 4-30-201 - 4-30-207 , or which represents a capital retain, or patronage distribution issued by a cooperative solely to its members or other patrons shall not be considered to be a security under this chapter and shall not be subject to the provisions of this chapter, provided: (A) The instruments or interests are properly identified and not labeled with the traditional names of investment securities as defined by § 23-42-102(17) ; (B) The instruments or interests are not part of a class of instruments or interests regularly bought or sold for investment purposes or for which an active trading market exists. However, this limitation shall not in any way restrict the bona fide pledge of the instruments or interests; and (C) No commission or other remuneration is paid in connection with the sale or issuance to members or other patrons of the interests and instruments. This exemption shall not apply to those interests or instruments which possess the characteristics of an investment contract or other security as interpreted under the laws of the State of Arkansas; and

(A) The instruments or interests are properly identified and not labeled with the traditional names of investment securities as defined by § 23-42-102(17) ;

(B) The instruments or interests are not part of a class of instruments or interests regularly bought or sold for investment purposes or for which an active trading market exists. However, this limitation shall not in any way restrict the bona fide pledge of the instruments or interests; and

(C) No commission or other remuneration is paid in connection with the sale or issuance to members or other patrons of the interests and instruments. This exemption shall not apply to those interests or instruments which possess the characteristics of an investment contract or other security as interpreted under the laws of the State of Arkansas; and

(3) The commissioner may render foreign nonprofit cooperatives the privilege afforded Arkansas nonprofit cooperatives set forth in subdivision (c)(2) of this section, provided the foreign cooperative first files supporting documents verifying that it is qualified to do business in Arkansas, that members have substantially the same rights as members of cooperatives organized under the nonprofit cooperative corporate laws of this state, that the offering is within the scope of subdivision (c)(2) of this section, and any other information which the commissioner deems appropriate.

(d) (1) Before any security may be issued as an exempted security under subdivision (a)(7) of this section or subdivision (c)(1)(A) of this section, a proof of exemption must first be filed with the commissioner, and the commissioner by order shall not have disallowed the exemption within the next ten (10) full business days. (2) The proof of exemption shall contain a statement of the grounds upon which the exemption is claimed and a designation of the subsection of this section under which the exemption is claimed. (3) Proofs of exemption which have not been completed within a period of one hundred eighty (180) days after filing with the commissioner may be deemed abandoned and considered withdrawn by the applicant, provided the applicant has been notified of the deficiencies to the proof and afforded a reasonable opportunity to correct the deficiencies. (4) Each offering shall be effective only for twelve (12) consecutive months. (5) For every proof of exemption filed with the commissioner under: (A) Subdivision (a)(7) of this section, there shall be paid to the commissioner a filing fee of five hundred dollars ($500); and (B) Subdivision (c)(1)(A) of this section, there shall be paid to the commissioner a filing fee of one hundred dollars ($100).

(1) Before any security may be issued as an exempted security under subdivision (a)(7) of this section or subdivision (c)(1)(A) of this section, a proof of exemption must first be filed with the commissioner, and the commissioner by order shall not have disallowed the exemption within the next ten (10) full business days.

(2) The proof of exemption shall contain a statement of the grounds upon which the exemption is claimed and a designation of the subsection of this section under which the exemption is claimed.

(3) Proofs of exemption which have not been completed within a period of one hundred eighty (180) days after filing with the commissioner may be deemed abandoned and considered withdrawn by the applicant, provided the applicant has been notified of the deficiencies to the proof and afforded a reasonable opportunity to correct the deficiencies.

(4) Each offering shall be effective only for twelve (12) consecutive months.

(5) For every proof of exemption filed with the commissioner under: (A) Subdivision (a)(7) of this section, there shall be paid to the commissioner a filing fee of five hundred dollars ($500); and (B) Subdivision (c)(1)(A) of this section, there shall be paid to the commissioner a filing fee of one hundred dollars ($100).

(A) Subdivision (a)(7) of this section, there shall be paid to the commissioner a filing fee of five hundred dollars ($500); and

(B) Subdivision (c)(1)(A) of this section, there shall be paid to the commissioner a filing fee of one hundred dollars ($100).

Amended by Act 2017, No. 668,§ 22, eff. 8/1/2017.

Acts 1959, No. 254, § 14; 1961, No. 248, § 7; 1973, No. 47, §§ 12, 14; 1975, No. 697, § 1; 1975, No. 844, §§ 7, 8, 11; 1977, No. 493, §§ 6, 7, 10; 1979, No. 754, §§ 2, 8; 1983, No. 836, §§ 14, 15; 1985, No. 939, §§ 5-8; A.S.A. 1947, §§ 67-1247, 67-1248; Acts 1987, No. 776, § 2; 1989, No. 348, § 1; 1993, No. 1147, § 1807; 1995, No. 845, §§ 25, 26; 1997, No. 173, § 20; 2005, No. 420, § 2.
Ark. Code Ann. § 23-82-111 — AR Code / Title 23 / Chapter 82 / Section 23-82-111
Reinstatement provision
Status: in_force

There shall be a provision that unless the policy has been surrendered for its cash surrender value or unless the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within two (2) years from the date of premium default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears, and the payment or reinstatement of any other indebtedness to the insurer upon the policy, all with interest at a rate not exceeding six percent (6%) per annum, compounded annually. Acts 1959, No. 148, § 355; A.S.A. 1947, § 66-3410.

There shall be a provision that unless the policy has been surrendered for its cash surrender value or unless the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within two (2) years from the date of premium default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears, and the payment or reinstatement of any other indebtedness to the insurer upon the policy, all with interest at a rate not exceeding six percent (6%) per annum, compounded annually.

Acts 1959, No. 148, § 355; A.S.A. 1947, § 66-3410.
Ark. Code Ann. § 23-37-405 — AR Code / Title 23 / Chapter 37 / Subchapter 4 / Section 23-37-405
Membership charges prohibited
Status: in_force

(a) No association shall directly or indirectly charge any membership, admission, withdrawal, or any other fee or sum of money for the privilege of becoming, remaining, or ceasing to be a member of the association, except charges upon the making or modification of a loan. (b) No association shall charge any member any sum of money by way of fine or penalty for any cause, except for charges made against borrowers for defaults or prepayments. Acts 1963, No. 227, § 34; A.S.A. 1947, § 67-1834.

(a) No association shall directly or indirectly charge any membership, admission, withdrawal, or any other fee or sum of money for the privilege of becoming, remaining, or ceasing to be a member of the association, except charges upon the making or modification of a loan.

(b) No association shall charge any member any sum of money by way of fine or penalty for any cause, except for charges made against borrowers for defaults or prepayments.

Acts 1963, No. 227, § 34; A.S.A. 1947, § 67-1834.
Ark. Code Ann. § 23-44-107 — AR Code / Title 23 / Chapter 44 / Section 23-44-107
Exchanges and boards of trade - Organization - Records
Status: in_force

(a) There may be organized, in any city, town, or municipality in the State of Arkansas, voluntary associations to be known as cotton exchanges, grain exchanges, boards of trade, or similar institutions to receive and post quotations on cotton, grains, stocks, bonds, and other commodities for the benefit of their members and other persons engaged in the production of cotton, grain, and other commodities. (b) The associations shall be composed of not fewer than twenty-five (25) active members and shall adopt a uniform set of rules not inconsistent with the laws of Arkansas and of the United States. (c) They shall open their books to the inspection of proper courts and officers of the law when required. Amended by Act 2019, No. 315,§ 2516, eff. 7/24/2019. Acts 1929, No. 208, § 8; Pope's Dig., § 3349; A.S.A. 1947, § 68-1008.

(a) There may be organized, in any city, town, or municipality in the State of Arkansas, voluntary associations to be known as cotton exchanges, grain exchanges, boards of trade, or similar institutions to receive and post quotations on cotton, grains, stocks, bonds, and other commodities for the benefit of their members and other persons engaged in the production of cotton, grain, and other commodities.

(b) The associations shall be composed of not fewer than twenty-five (25) active members and shall adopt a uniform set of rules not inconsistent with the laws of Arkansas and of the United States.

(c) They shall open their books to the inspection of proper courts and officers of the law when required.

Amended by Act 2019, No. 315,§ 2516, eff. 7/24/2019.

Acts 1929, No. 208, § 8; Pope's Dig., § 3349; A.S.A. 1947, § 68-1008.
Ark. Code Ann. § 23-61-1011 — AR Code / Title 23 / Chapter 61 / Subchapter 10 / Section 23-61-1011
Health and Economic Outcomes Accountability Oversight Advisory Panel
Status: in_force

(a) There is created the Health and Economic Outcomes Accountability Oversight Advisory Panel. (b) The advisory panel shall be composed of the following members: (1) The following members of the General Assembly: (A) The Chair of the Senate Committee on Public Health, Welfare, and Labor; (B) The Chair of the House Committee on Public Health, Welfare, and Labor; (C) The Chair of the Senate Committee on Education; (D) The Chair of the House Committee on Education; (E) The Chair of the Senate Committee on Insurance and Commerce; (F) The Chair of the House Committee on Insurance and Commerce; (G) An at-large member of the Senate appointed by the President Pro Tempore of the Senate; (H) An at-large member of the House of Representatives appointed by the Speaker of the House of Representatives; (I) An at-large member of the Senate appointed by the minority leader of the Senate; and (J) An at-large member of the House of Representatives appointed by the minority leader of the House of Representatives; (2) The Secretary of the Department of Human Services; (3) The Arkansas Surgeon General; (4) The Insurance Commissioner; (5) The heads of the following executive branch agencies or their designees: (A) Department of Health; (B) Department of Education; (C) Department of Corrections; (D) Department of Commerce; and (E) Department of Finance and Administration; (6) The Executive Director of the Arkansas Minority Health Commission; and (7) (A) Three (3) community members who represent health, business, or education, who reflect the broad racial and geographic diversity in the state, and who have demonstrated a commitment to improving the health and welfare of Arkansans, appointed as follows: (i) One (1) member shall be appointed by and serve at the will of the Governor; (ii) One (1) member shall be appointed by and serve at the will of the President Pro Tempore of the Senate; and (iii) One (1) member shall be appointed by and serve at the will of the Speaker of the House of Representatives. (B) Members serving under subdivision (b)(7)(A) of this section may receive mileage reimbursement. (c) (1) The Secretary of the Department of Human Services and one (1) legislative member shall serve as the cochairs of the Health and Economic Outcomes Accountability Oversight Advisory Panel and shall convene meetings quarterly of the advisory panel. (2) The legislative member who serves as the cochair shall be selected by majority vote of all legislative members serving on the advisory panel. (d) (1) The advisory panel shall review, make nonbinding recommendations, and provide advice concerning the proposed quality performance targets presented by the Department of Human Services for each participating individual qualified health insurance plan. (2) The advisory panel shall deliver all nonbinding recommendations to the Secretary of the Department of Human Services. (3) (A) The Secretary of the Department of Human Services, in consultation with the State Medicaid Director, shall determine all quality performance targets for each participating individual qualified health insurance plan. (B) The Secretary of the Department of Human Services may consider the nonbinding recommendations of the advisory panel when determining quality performance targets for each participating individual qualified health insurance plan. (e) The advisory panel shall review: (1) The annual quality assessment and performance improvement strategic plan for each participating individual qualified health insurance plan; (2) Financial performance of the Arkansas Health and Opportunity for Me Program against the budget neutrality targets in each demonstration year; (3) Quarterly reports prepared by the Department of Human Services, in consultation with the Department of Commerce, on progress towards meeting economic independence outcomes and health improvement outcomes, including without limitation: (A) Community bridge organization outcomes; (B) Individual qualified health insurance plan health improvement outcomes; (C) Economic independence initiative outcomes; and (D) Any sanctions or penalties assessed on participating individual qualified health insurance plans; (4) Quarterly reports prepared by the Department of Human Services on the Arkansas Health and Opportunity for Me Program, including without limitation: (A) Eligibility and enrollment; (B) Utilization; (C) Premium and cost-sharing reduction costs; and (D) Health insurer participation and competition; and (5) Any other topics as requested by the Secretary of the Department of Human Services. (f) (1) The advisory panel may furnish advice, gather information, make recommendations, and publish reports. (2) However, the advisory panel shall not administer any portion of the Arkansas Health and Opportunity for Me Program or set policy. (g) The Department of Human Services shall provide administrative support necessary for the advisory panel to perform its duties. (h) The Department of Human Services shall produce and submit a quarterly report incorporating the advisory panel's findings to the President Pro Tempore of the Senate, the Speaker of the House of Representatives, and the public on the progress in health and economic improvement resulting from the Arkansas Health and Opportunity for Me Program, including without limitation: (1) Eligibility and enrollment; (2) Participation in and the impact of the economic independence initiative and the health improvement initiative of the eligible individuals, health insurers, and community bridge organizations; (3) Utilization of medical services; (4) Premium and cost-sharing reduction costs; and (5) Health insurer participation and completion. Added by Act 2021, No. 530,§ 1, eff. on and after January 1, 2022.

(a) There is created the Health and Economic Outcomes Accountability Oversight Advisory Panel.

(b) The advisory panel shall be composed of the following members: (1) The following members of the General Assembly: (A) The Chair of the Senate Committee on Public Health, Welfare, and Labor; (B) The Chair of the House Committee on Public Health, Welfare, and Labor; (C) The Chair of the Senate Committee on Education; (D) The Chair of the House Committee on Education; (E) The Chair of the Senate Committee on Insurance and Commerce; (F) The Chair of the House Committee on Insurance and Commerce; (G) An at-large member of the Senate appointed by the President Pro Tempore of the Senate; (H) An at-large member of the House of Representatives appointed by the Speaker of the House of Representatives; (I) An at-large member of the Senate appointed by the minority leader of the Senate; and (J) An at-large member of the House of Representatives appointed by the minority leader of the House of Representatives; (2) The Secretary of the Department of Human Services; (3) The Arkansas Surgeon General; (4) The Insurance Commissioner; (5) The heads of the following executive branch agencies or their designees: (A) Department of Health; (B) Department of Education; (C) Department of Corrections; (D) Department of Commerce; and (E) Department of Finance and Administration; (6) The Executive Director of the Arkansas Minority Health Commission; and (7) (A) Three (3) community members who represent health, business, or education, who reflect the broad racial and geographic diversity in the state, and who have demonstrated a commitment to improving the health and welfare of Arkansans, appointed as follows: (i) One (1) member shall be appointed by and serve at the will of the Governor; (ii) One (1) member shall be appointed by and serve at the will of the President Pro Tempore of the Senate; and (iii) One (1) member shall be appointed by and serve at the will of the Speaker of the House of Representatives. (B) Members serving under subdivision (b)(7)(A) of this section may receive mileage reimbursement.

(1) The following members of the General Assembly: (A) The Chair of the Senate Committee on Public Health, Welfare, and Labor; (B) The Chair of the House Committee on Public Health, Welfare, and Labor; (C) The Chair of the Senate Committee on Education; (D) The Chair of the House Committee on Education; (E) The Chair of the Senate Committee on Insurance and Commerce; (F) The Chair of the House Committee on Insurance and Commerce; (G) An at-large member of the Senate appointed by the President Pro Tempore of the Senate; (H) An at-large member of the House of Representatives appointed by the Speaker of the House of Representatives; (I) An at-large member of the Senate appointed by the minority leader of the Senate; and (J) An at-large member of the House of Representatives appointed by the minority leader of the House of Representatives;

(A) The Chair of the Senate Committee on Public Health, Welfare, and Labor;

(B) The Chair of the House Committee on Public Health, Welfare, and Labor;

(C) The Chair of the Senate Committee on Education;

(D) The Chair of the House Committee on Education;

(E) The Chair of the Senate Committee on Insurance and Commerce;

(F) The Chair of the House Committee on Insurance and Commerce;

(G) An at-large member of the Senate appointed by the President Pro Tempore of the Senate;

(H) An at-large member of the House of Representatives appointed by the Speaker of the House of Representatives;

(I) An at-large member of the Senate appointed by the minority leader of the Senate; and

(J) An at-large member of the House of Representatives appointed by the minority leader of the House of Representatives;

(2) The Secretary of the Department of Human Services;

(3) The Arkansas Surgeon General;

(4) The Insurance Commissioner;

(5) The heads of the following executive branch agencies or their designees: (A) Department of Health; (B) Department of Education; (C) Department of Corrections; (D) Department of Commerce; and (E) Department of Finance and Administration;

(A) Department of Health;

(B) Department of Education;

(C) Department of Corrections;

(D) Department of Commerce; and

(E) Department of Finance and Administration;

(6) The Executive Director of the Arkansas Minority Health Commission; and

(7) (A) Three (3) community members who represent health, business, or education, who reflect the broad racial and geographic diversity in the state, and who have demonstrated a commitment to improving the health and welfare of Arkansans, appointed as follows: (i) One (1) member shall be appointed by and serve at the will of the Governor; (ii) One (1) member shall be appointed by and serve at the will of the President Pro Tempore of the Senate; and (iii) One (1) member shall be appointed by and serve at the will of the Speaker of the House of Representatives. (B) Members serving under subdivision (b)(7)(A) of this section may receive mileage reimbursement.

(A) Three (3) community members who represent health, business, or education, who reflect the broad racial and geographic diversity in the state, and who have demonstrated a commitment to improving the health and welfare of Arkansans, appointed as follows: (i) One (1) member shall be appointed by and serve at the will of the Governor; (ii) One (1) member shall be appointed by and serve at the will of the President Pro Tempore of the Senate; and (iii) One (1) member shall be appointed by and serve at the will of the Speaker of the House of Representatives.

(i) One (1) member shall be appointed by and serve at the will of the Governor;

(ii) One (1) member shall be appointed by and serve at the will of the President Pro Tempore of the Senate; and

(iii) One (1) member shall be appointed by and serve at the will of the Speaker of the House of Representatives.

(B) Members serving under subdivision (b)(7)(A) of this section may receive mileage reimbursement.

(c) (1) The Secretary of the Department of Human Services and one (1) legislative member shall serve as the cochairs of the Health and Economic Outcomes Accountability Oversight Advisory Panel and shall convene meetings quarterly of the advisory panel. (2) The legislative member who serves as the cochair shall be selected by majority vote of all legislative members serving on the advisory panel.

(1) The Secretary of the Department of Human Services and one (1) legislative member shall serve as the cochairs of the Health and Economic Outcomes Accountability Oversight Advisory Panel and shall convene meetings quarterly of the advisory panel.

(2) The legislative member who serves as the cochair shall be selected by majority vote of all legislative members serving on the advisory panel.

(d) (1) The advisory panel shall review, make nonbinding recommendations, and provide advice concerning the proposed quality performance targets presented by the Department of Human Services for each participating individual qualified health insurance plan. (2) The advisory panel shall deliver all nonbinding recommendations to the Secretary of the Department of Human Services. (3) (A) The Secretary of the Department of Human Services, in consultation with the State Medicaid Director, shall determine all quality performance targets for each participating individual qualified health insurance plan. (B) The Secretary of the Department of Human Services may consider the nonbinding recommendations of the advisory panel when determining quality performance targets for each participating individual qualified health insurance plan.

(1) The advisory panel shall review, make nonbinding recommendations, and provide advice concerning the proposed quality performance targets presented by the Department of Human Services for each participating individual qualified health insurance plan.

(2) The advisory panel shall deliver all nonbinding recommendations to the Secretary of the Department of Human Services.

(3) (A) The Secretary of the Department of Human Services, in consultation with the State Medicaid Director, shall determine all quality performance targets for each participating individual qualified health insurance plan. (B) The Secretary of the Department of Human Services may consider the nonbinding recommendations of the advisory panel when determining quality performance targets for each participating individual qualified health insurance plan.

(A) The Secretary of the Department of Human Services, in consultation with the State Medicaid Director, shall determine all quality performance targets for each participating individual qualified health insurance plan.

(B) The Secretary of the Department of Human Services may consider the nonbinding recommendations of the advisory panel when determining quality performance targets for each participating individual qualified health insurance plan.

(e) The advisory panel shall review: (1) The annual quality assessment and performance improvement strategic plan for each participating individual qualified health insurance plan; (2) Financial performance of the Arkansas Health and Opportunity for Me Program against the budget neutrality targets in each demonstration year; (3) Quarterly reports prepared by the Department of Human Services, in consultation with the Department of Commerce, on progress towards meeting economic independence outcomes and health improvement outcomes, including without limitation: (A) Community bridge organization outcomes; (B) Individual qualified health insurance plan health improvement outcomes; (C) Economic independence initiative outcomes; and (D) Any sanctions or penalties assessed on participating individual qualified health insurance plans; (4) Quarterly reports prepared by the Department of Human Services on the Arkansas Health and Opportunity for Me Program, including without limitation: (A) Eligibility and enrollment; (B) Utilization; (C) Premium and cost-sharing reduction costs; and (D) Health insurer participation and competition; and (5) Any other topics as requested by the Secretary of the Department of Human Services.

(1) The annual quality assessment and performance improvement strategic plan for each participating individual qualified health insurance plan;

(2) Financial performance of the Arkansas Health and Opportunity for Me Program against the budget neutrality targets in each demonstration year;

(3) Quarterly reports prepared by the Department of Human Services, in consultation with the Department of Commerce, on progress towards meeting economic independence outcomes and health improvement outcomes, including without limitation: (A) Community bridge organization outcomes; (B) Individual qualified health insurance plan health improvement outcomes; (C) Economic independence initiative outcomes; and (D) Any sanctions or penalties assessed on participating individual qualified health insurance plans;

(A) Community bridge organization outcomes;

(B) Individual qualified health insurance plan health improvement outcomes;

(C) Economic independence initiative outcomes; and

(D) Any sanctions or penalties assessed on participating individual qualified health insurance plans;

(4) Quarterly reports prepared by the Department of Human Services on the Arkansas Health and Opportunity for Me Program, including without limitation: (A) Eligibility and enrollment; (B) Utilization; (C) Premium and cost-sharing reduction costs; and (D) Health insurer participation and competition; and

(A) Eligibility and enrollment;

(B) Utilization;

(C) Premium and cost-sharing reduction costs; and

(D) Health insurer participation and competition; and

(5) Any other topics as requested by the Secretary of the Department of Human Services.

(f) (1) The advisory panel may furnish advice, gather information, make recommendations, and publish reports. (2) However, the advisory panel shall not administer any portion of the Arkansas Health and Opportunity for Me Program or set policy.

(1) The advisory panel may furnish advice, gather information, make recommendations, and publish reports.

(2) However, the advisory panel shall not administer any portion of the Arkansas Health and Opportunity for Me Program or set policy.

(g) The Department of Human Services shall provide administrative support necessary for the advisory panel to perform its duties.

(h) The Department of Human Services shall produce and submit a quarterly report incorporating the advisory panel's findings to the President Pro Tempore of the Senate, the Speaker of the House of Representatives, and the public on the progress in health and economic improvement resulting from the Arkansas Health and Opportunity for Me Program, including without limitation: (1) Eligibility and enrollment; (2) Participation in and the impact of the economic independence initiative and the health improvement initiative of the eligible individuals, health insurers, and community bridge organizations; (3) Utilization of medical services; (4) Premium and cost-sharing reduction costs; and (5) Health insurer participation and completion.

(1) Eligibility and enrollment;

(2) Participation in and the impact of the economic independence initiative and the health improvement initiative of the eligible individuals, health insurers, and community bridge organizations;

(3) Utilization of medical services;

(4) Premium and cost-sharing reduction costs; and

(5) Health insurer participation and completion.

Added by Act 2021, No. 530,§ 1, eff. on and after January 1, 2022.
Ark. Code Ann. § 23-114-304 — AR Code / Title 23 / Chapter 114 / Subchapter 3 / Section 23-114-304
License application - Distributors and manufacturers
Status: in_force

(a) An applicant for a distributor license or a manufacturer license shall file a written verified application with the Department of Finance and Administration on a form prescribed by the department. (b) The license application shall include: (1) The name, address, and federal employer identification number of the applicant; (2) The names and positions of the applicant's officers; (3) The name and address of the person or persons who are responsible for the applicant's sales of bingo equipment; and (4) A statement that the applicant complies with the conditions for eligibility for the license. (c) The person or persons who are responsible for the applicant's sales of bingo equipment shall meet the following requirements: (1) The person or persons shall not have been found guilty of or pleaded guilty or no contest to: (A) Any felony by any court in the State of Arkansas; or (B) Any similar offense by a court in another state or of any similar offense by a military or federal court; (2) (A) In order to determine the person's or persons' suitability to be involved in the sale of bingo equipment, the Secretary of the Department of Finance and Administration may require that the person or persons be fingerprinted and the fingerprints forwarded for a criminal background check through the Division of Arkansas State Police. (B) After the completion of the criminal background check through the division, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check; and (3) The person or persons responsible for an applicant's sales of bingo equipment shall sign a release that allows the division to release the following: (A) An Arkansas noncriminal justice background check to the department; and (B) A fingerprint card of the applicant to the Federal Bureau of Investigation to allow a federal fingerprint-based background check to be performed. Amended by Act 2019, No. 910,§ 3527, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 3526, eff. 7/1/2019. Acts 2007, No. 388, § 1.

(a) An applicant for a distributor license or a manufacturer license shall file a written verified application with the Department of Finance and Administration on a form prescribed by the department.

(b) The license application shall include: (1) The name, address, and federal employer identification number of the applicant; (2) The names and positions of the applicant's officers; (3) The name and address of the person or persons who are responsible for the applicant's sales of bingo equipment; and (4) A statement that the applicant complies with the conditions for eligibility for the license.

(1) The name, address, and federal employer identification number of the applicant;

(2) The names and positions of the applicant's officers;

(3) The name and address of the person or persons who are responsible for the applicant's sales of bingo equipment; and

(4) A statement that the applicant complies with the conditions for eligibility for the license.

(c) The person or persons who are responsible for the applicant's sales of bingo equipment shall meet the following requirements: (1) The person or persons shall not have been found guilty of or pleaded guilty or no contest to: (A) Any felony by any court in the State of Arkansas; or (B) Any similar offense by a court in another state or of any similar offense by a military or federal court; (2) (A) In order to determine the person's or persons' suitability to be involved in the sale of bingo equipment, the Secretary of the Department of Finance and Administration may require that the person or persons be fingerprinted and the fingerprints forwarded for a criminal background check through the Division of Arkansas State Police. (B) After the completion of the criminal background check through the division, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check; and (3) The person or persons responsible for an applicant's sales of bingo equipment shall sign a release that allows the division to release the following: (A) An Arkansas noncriminal justice background check to the department; and (B) A fingerprint card of the applicant to the Federal Bureau of Investigation to allow a federal fingerprint-based background check to be performed.

(1) The person or persons shall not have been found guilty of or pleaded guilty or no contest to: (A) Any felony by any court in the State of Arkansas; or (B) Any similar offense by a court in another state or of any similar offense by a military or federal court;

(A) Any felony by any court in the State of Arkansas; or

(B) Any similar offense by a court in another state or of any similar offense by a military or federal court;

(2) (A) In order to determine the person's or persons' suitability to be involved in the sale of bingo equipment, the Secretary of the Department of Finance and Administration may require that the person or persons be fingerprinted and the fingerprints forwarded for a criminal background check through the Division of Arkansas State Police. (B) After the completion of the criminal background check through the division, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check; and

(A) In order to determine the person's or persons' suitability to be involved in the sale of bingo equipment, the Secretary of the Department of Finance and Administration may require that the person or persons be fingerprinted and the fingerprints forwarded for a criminal background check through the Division of Arkansas State Police.

(B) After the completion of the criminal background check through the division, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check; and

(3) The person or persons responsible for an applicant's sales of bingo equipment shall sign a release that allows the division to release the following: (A) An Arkansas noncriminal justice background check to the department; and (B) A fingerprint card of the applicant to the Federal Bureau of Investigation to allow a federal fingerprint-based background check to be performed.

(A) An Arkansas noncriminal justice background check to the department; and

(B) A fingerprint card of the applicant to the Federal Bureau of Investigation to allow a federal fingerprint-based background check to be performed.

Amended by Act 2019, No. 910,§ 3527, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 3526, eff. 7/1/2019.

Acts 2007, No. 388, § 1.
Ark. Code Ann. § 23-89-506 — AR Code / Title 23 / Chapter 89 / Subchapter 5 / Section 23-89-506
Inspections and fees
Status: in_force

(a) (1) The Director of the Division of Labor is authorized to inspect each person or entity to ensure compliance with this subchapter. (2) Two (2) times per calendar year, the director shall inspect all permanently placed operational amusement rides or amusement attractions located in this state being operated for profit or charity. (3) All portable amusement rides or amusement attractions shall be inspected by the director every time they are moved to a new location in Arkansas and before they are permitted to commence operation or open to the public. (4) (A) Inflatable attractions, self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected annually, unless a more frequent schedule of inspections is established by rules of the director for certain types of inflatable attractions and self-contained mobile playgrounds. (B) Self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected pursuant to subdivision (a)(4)(A) of this section only if such playgrounds contain no mechanical or electrical parts, structures, or additions such as blowers or lights. (C) The director may determine by rule which other portable amusement ride or amusement attraction is sufficiently safe to justify inspection only one (1) time each six (6) months. (b) The director is authorized to make an inspection on an emergency basis when notification pursuant to this subchapter is made less than four (4) days, excluding Saturdays, Sundays, and legal holidays, prior to the date of the operation of the facility, if he or she determines that the owner or operator could not have reasonably known of the proposed operation prior to the four-day period and that the owner or operator meets all other requirements for operation in this state. (c) If the director or an authorized employee of the Division of Labor finds that any amusement ride or amusement attraction is defective in a manner affecting patron safety or unsafe, he or she shall attach to the amusement ride or amusement attraction a notice and order prohibiting its use or operation. Operation of the amusement ride shall not resume until the unsafe or hazardous condition is corrected and the director or his or her authorized representative permits such an operation. (d) Any inspector certified pursuant to the requirements of this subchapter who, upon inspection of an amusement ride or amusement attraction, finds the amusement ride or amusement attraction to be defective or unsafe shall immediately report the amusement ride or amusement attraction and its condition to the division. (e) The director shall charge a fee to be paid by the owner of any amusement ride or amusement attraction for all amusement ride safety inspections performed by any employee of the division. Such fees shall be as follows: (1) For one (1) to five (5) amusement rides or amusement attractions, one hundred dollars ($100); (2) For six (6) to fifteen (15) amusement rides or amusement attractions, two hundred dollars ($200); (3) For sixteen (16) to twenty-five (25) amusement rides or amusement attractions, three hundred dollars ($300); (4) For twenty-six (26) to thirty-five (35) amusement rides or amusement attractions, four hundred dollars ($400); and (5) For thirty-six (36) and more amusement rides or amusement attractions, six hundred dollars ($600). (f) The director is authorized by rule to implement an inspection fee waiver program for the benefit of a county fair association, provided that: (1) The county's population is under fifteen thousand (15,000) based on United States Bureau of the Census estimates as of July 1, 1999; and (2) The county fair association can demonstrate that it would be unable to obtain a carnival for its county fair without such a waiver. Amended by Act 2019, No. 315,§ 2764, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2763, eff. 7/24/2019. Amended by Act 2019, No. 585,§ 1, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 5510, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 5509, eff. 7/1/2019. Amended by Act 2013, No. 540,§ 1, eff. 8/16/2013. Acts 1983, No. 837, § 6; A.S.A. 1947, § 66-5906; Acts 1987, No. 839, § 3; 1995, No. 631, § 4; 2001, No. 1365, § 4; 2005, No. 924, § 2.

(a) (1) The Director of the Division of Labor is authorized to inspect each person or entity to ensure compliance with this subchapter. (2) Two (2) times per calendar year, the director shall inspect all permanently placed operational amusement rides or amusement attractions located in this state being operated for profit or charity. (3) All portable amusement rides or amusement attractions shall be inspected by the director every time they are moved to a new location in Arkansas and before they are permitted to commence operation or open to the public. (4) (A) Inflatable attractions, self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected annually, unless a more frequent schedule of inspections is established by rules of the director for certain types of inflatable attractions and self-contained mobile playgrounds. (B) Self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected pursuant to subdivision (a)(4)(A) of this section only if such playgrounds contain no mechanical or electrical parts, structures, or additions such as blowers or lights. (C) The director may determine by rule which other portable amusement ride or amusement attraction is sufficiently safe to justify inspection only one (1) time each six (6) months.

(1) The Director of the Division of Labor is authorized to inspect each person or entity to ensure compliance with this subchapter.

(2) Two (2) times per calendar year, the director shall inspect all permanently placed operational amusement rides or amusement attractions located in this state being operated for profit or charity.

(3) All portable amusement rides or amusement attractions shall be inspected by the director every time they are moved to a new location in Arkansas and before they are permitted to commence operation or open to the public.

(4) (A) Inflatable attractions, self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected annually, unless a more frequent schedule of inspections is established by rules of the director for certain types of inflatable attractions and self-contained mobile playgrounds. (B) Self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected pursuant to subdivision (a)(4)(A) of this section only if such playgrounds contain no mechanical or electrical parts, structures, or additions such as blowers or lights. (C) The director may determine by rule which other portable amusement ride or amusement attraction is sufficiently safe to justify inspection only one (1) time each six (6) months.

(A) Inflatable attractions, self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected annually, unless a more frequent schedule of inspections is established by rules of the director for certain types of inflatable attractions and self-contained mobile playgrounds.

(B) Self-contained mobile playgrounds, artificial climbing walls, and other patron-propelled amusement rides or amusement attractions shall be inspected pursuant to subdivision (a)(4)(A) of this section only if such playgrounds contain no mechanical or electrical parts, structures, or additions such as blowers or lights.

(C) The director may determine by rule which other portable amusement ride or amusement attraction is sufficiently safe to justify inspection only one (1) time each six (6) months.

(b) The director is authorized to make an inspection on an emergency basis when notification pursuant to this subchapter is made less than four (4) days, excluding Saturdays, Sundays, and legal holidays, prior to the date of the operation of the facility, if he or she determines that the owner or operator could not have reasonably known of the proposed operation prior to the four-day period and that the owner or operator meets all other requirements for operation in this state.

(c) If the director or an authorized employee of the Division of Labor finds that any amusement ride or amusement attraction is defective in a manner affecting patron safety or unsafe, he or she shall attach to the amusement ride or amusement attraction a notice and order prohibiting its use or operation. Operation of the amusement ride shall not resume until the unsafe or hazardous condition is corrected and the director or his or her authorized representative permits such an operation.

(d) Any inspector certified pursuant to the requirements of this subchapter who, upon inspection of an amusement ride or amusement attraction, finds the amusement ride or amusement attraction to be defective or unsafe shall immediately report the amusement ride or amusement attraction and its condition to the division.

(e) The director shall charge a fee to be paid by the owner of any amusement ride or amusement attraction for all amusement ride safety inspections performed by any employee of the division. Such fees shall be as follows: (1) For one (1) to five (5) amusement rides or amusement attractions, one hundred dollars ($100); (2) For six (6) to fifteen (15) amusement rides or amusement attractions, two hundred dollars ($200); (3) For sixteen (16) to twenty-five (25) amusement rides or amusement attractions, three hundred dollars ($300); (4) For twenty-six (26) to thirty-five (35) amusement rides or amusement attractions, four hundred dollars ($400); and (5) For thirty-six (36) and more amusement rides or amusement attractions, six hundred dollars ($600).

(1) For one (1) to five (5) amusement rides or amusement attractions, one hundred dollars ($100);

(2) For six (6) to fifteen (15) amusement rides or amusement attractions, two hundred dollars ($200);

(3) For sixteen (16) to twenty-five (25) amusement rides or amusement attractions, three hundred dollars ($300);

(4) For twenty-six (26) to thirty-five (35) amusement rides or amusement attractions, four hundred dollars ($400); and

(5) For thirty-six (36) and more amusement rides or amusement attractions, six hundred dollars ($600).

(f) The director is authorized by rule to implement an inspection fee waiver program for the benefit of a county fair association, provided that: (1) The county's population is under fifteen thousand (15,000) based on United States Bureau of the Census estimates as of July 1, 1999; and (2) The county fair association can demonstrate that it would be unable to obtain a carnival for its county fair without such a waiver.

(1) The county's population is under fifteen thousand (15,000) based on United States Bureau of the Census estimates as of July 1, 1999; and

(2) The county fair association can demonstrate that it would be unable to obtain a carnival for its county fair without such a waiver.

Amended by Act 2019, No. 315,§ 2764, eff. 7/24/2019.

Amended by Act 2019, No. 315,§ 2763, eff. 7/24/2019.

Amended by Act 2019, No. 585,§ 1, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 5510, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 5509, eff. 7/1/2019.

Amended by Act 2013, No. 540,§ 1, eff. 8/16/2013.

Acts 1983, No. 837, § 6; A.S.A. 1947, § 66-5906; Acts 1987, No. 839, § 3; 1995, No. 631, § 4; 2001, No. 1365, § 4; 2005, No. 924, § 2.
Ark. Code Ann. § 23-99-1119 — AR Code / Title 23 / Chapter 99 / Subchapter 11 / Section 23-99-1119
Medication-assisted treatment for opioid addiction
Status: in_force

(a) A healthcare insurer, including Medicaid, shall not: (1) Require prior authorization in order for a patient to obtain coverage of buprenorphine, naloxone, naltrexone, methadone, and their various formulations and combinations approved by the United States Food and Drug Administration for the treatment or detoxification of opioid and alcohol addiction; or (2) Impose any other requirement other than a valid prescription and compliance with the medication-assisted treatment guidelines issued by the United States Substance Abuse and Mental Health Services Administration under the United States Department of Health and Human Services in order for a patient to obtain coverage for buprenorphine, naloxone, naltrexone, methadone, and their various formulations and combinations approved by the United States Food and Drug Administration for the treatment or detoxification of opioid and alcohol addiction. (b) Subdivision (a)(1) of this section shall only apply to the Arkansas Medicaid Program as it pertains to prescription drugs for treatment or detoxification of opioid and alcohol addiction designated as preferred on the evidence-based preferred drug list, provided there is at least one (1) of each of the drugs listed in subdivision (a)(1) of this section with the preferred designation on the preferred drug list or available without prior authorization. (c) If a new formulation or medication approved by the United States Food and Drug Administration for use as a prescription for medication-assisted treatment becomes available after April 12, 2019, and is either more expensive or has not been shown to be more effective than the formulations and medications in subsection (a) of this section, then the healthcare insurer may require prior authorization of the new formulation or medication. (d) A healthcare insurer utilizing a tiered drug formulary shall place on the lowest-cost benefit tier at least one (1) product for each of the following medications that is approved by the United States Food and Drug Administration: (1) Buprenorphine; (2) Naloxone; (3) Naltrexone; (4) Methadone; and (5) A product containing both buprenorphine and naloxone. (e) For purposes of any limit a healthcare insurer imposes on the number of prescriptions for a patient, a prescription for medication-assisted treatment shall not be counted. (f) This section does not affect the responsibility of a healthcare provider to comply with the standard of care for medication-assisted treatment, including without limitation the use of therapy in combination with medication. (g) [Repealed.] Amended by Act 2023, No. 451,§ 1, eff. 8/1/2023. Added by Act 2019, No. 964,§ 3, eff. 4/12/2019.

(a) A healthcare insurer, including Medicaid, shall not: (1) Require prior authorization in order for a patient to obtain coverage of buprenorphine, naloxone, naltrexone, methadone, and their various formulations and combinations approved by the United States Food and Drug Administration for the treatment or detoxification of opioid and alcohol addiction; or (2) Impose any other requirement other than a valid prescription and compliance with the medication-assisted treatment guidelines issued by the United States Substance Abuse and Mental Health Services Administration under the United States Department of Health and Human Services in order for a patient to obtain coverage for buprenorphine, naloxone, naltrexone, methadone, and their various formulations and combinations approved by the United States Food and Drug Administration for the treatment or detoxification of opioid and alcohol addiction.

(1) Require prior authorization in order for a patient to obtain coverage of buprenorphine, naloxone, naltrexone, methadone, and their various formulations and combinations approved by the United States Food and Drug Administration for the treatment or detoxification of opioid and alcohol addiction; or

(2) Impose any other requirement other than a valid prescription and compliance with the medication-assisted treatment guidelines issued by the United States Substance Abuse and Mental Health Services Administration under the United States Department of Health and Human Services in order for a patient to obtain coverage for buprenorphine, naloxone, naltrexone, methadone, and their various formulations and combinations approved by the United States Food and Drug Administration for the treatment or detoxification of opioid and alcohol addiction.

(b) Subdivision (a)(1) of this section shall only apply to the Arkansas Medicaid Program as it pertains to prescription drugs for treatment or detoxification of opioid and alcohol addiction designated as preferred on the evidence-based preferred drug list, provided there is at least one (1) of each of the drugs listed in subdivision (a)(1) of this section with the preferred designation on the preferred drug list or available without prior authorization.

(c) If a new formulation or medication approved by the United States Food and Drug Administration for use as a prescription for medication-assisted treatment becomes available after April 12, 2019, and is either more expensive or has not been shown to be more effective than the formulations and medications in subsection (a) of this section, then the healthcare insurer may require prior authorization of the new formulation or medication.

(d) A healthcare insurer utilizing a tiered drug formulary shall place on the lowest-cost benefit tier at least one (1) product for each of the following medications that is approved by the United States Food and Drug Administration: (1) Buprenorphine; (2) Naloxone; (3) Naltrexone; (4) Methadone; and (5) A product containing both buprenorphine and naloxone.

(1) Buprenorphine;

(2) Naloxone;

(3) Naltrexone;

(4) Methadone; and

(5) A product containing both buprenorphine and naloxone.

(e) For purposes of any limit a healthcare insurer imposes on the number of prescriptions for a patient, a prescription for medication-assisted treatment shall not be counted.

(f) This section does not affect the responsibility of a healthcare provider to comply with the standard of care for medication-assisted treatment, including without limitation the use of therapy in combination with medication.

(g) [Repealed.]

Amended by Act 2023, No. 451,§ 1, eff. 8/1/2023.

Added by Act 2019, No. 964,§ 3, eff. 4/12/2019.
Ark. Code Ann. § 23-102-110 — AR Code / Title 23 / Chapter 102 / Section 23-102-110
Coverages accessible through Arkansas Earthquake Authority
Status: in_force

(a) As long as the Market Assistance Program has at least one (1) approved insurer, no residential earthquake coverage shall be issued by the Arkansas Earthquake Authority, except as provided in subsection (b) of this section. (b) If there are no approved insurers in the program or if after notice and hearing, the Board of the Arkansas Earthquake Authority or the Insurance Commissioner finds that the program rates substantially exceed rates that could be offered by the authority, and the board or commissioner finds after a hearing that it is in the best interests of Arkansas citizens to issue coverage directly through the authority, and with the concurrence of the House Committee on Insurance and Commerce and the Senate Committee on Insurance and Commerce, if the General Assembly is in session, or the concurrence of the House Committee on Insurance and Commerce and the Senate Committee on Insurance and Commerce, if the General Assembly is not in session, the board shall proceed to offer coverage through the authority to potential insureds. Acts 1999, No. 1343, § 10.

(a) As long as the Market Assistance Program has at least one (1) approved insurer, no residential earthquake coverage shall be issued by the Arkansas Earthquake Authority, except as provided in subsection (b) of this section.

(b) If there are no approved insurers in the program or if after notice and hearing, the Board of the Arkansas Earthquake Authority or the Insurance Commissioner finds that the program rates substantially exceed rates that could be offered by the authority, and the board or commissioner finds after a hearing that it is in the best interests of Arkansas citizens to issue coverage directly through the authority, and with the concurrence of the House Committee on Insurance and Commerce and the Senate Committee on Insurance and Commerce, if the General Assembly is in session, or the concurrence of the House Committee on Insurance and Commerce and the Senate Committee on Insurance and Commerce, if the General Assembly is not in session, the board shall proceed to offer coverage through the authority to potential insureds.

Acts 1999, No. 1343, § 10.