Ark. Code Ann. § 23-79-103 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-103
Insurable interest - Personal insurance
Status: in_force

(a) (1) Any individual of competent legal capacity may procure or effect an insurance contract upon his or her own life or body for the benefit of any person. (2) However, no person shall procure or cause to be procured any insurance contract upon the life or body of another individual unless the benefits under the contract are payable to: (A) The individual insured or his or her personal representatives; or (B) A person having an insurable interest in the individual insured at the time the contract was made. (b) If the beneficiary, assignee, or other payee under any contract made in violation of this section receives from the insurer any benefits thereunder accruing upon the death, disablement, or injury of the individual insured, the individual insured or his or her executor or administrator, as the case may be, may maintain an action to recover the benefits from the person so receiving them. (c) (1) "Insurable interest" with reference to personal insurance includes only interests as follows: (A) In the case of individuals related closely by blood or by law, a substantial interest engendered by love and affection; (B) In the case of persons to which subdivision (c)(1)(D) of this section does not apply, a lawful and substantial economic interest in having the life, health, or bodily safety of the individual insured continue, as distinguished from an interest that would arise only by, or would be enhanced in value by, the death, disablement, or injury of the individual insured; (C) An individual party to a contract or option for the purchase or sale of an interest in a business partnership or firm, or of shares of stock of a closed corporation or of an interest in such shares, as an insurable interest in the life of each individual party to the contract and for the purposes of the contract only, in addition to any insurable interest that may otherwise exist as to the life of the individual; and (D) (i) (a) Any employer, corporation, other business entity, or the trustee of a trust providing life, health, disability, retirement, or similar benefits to employees, retired employees, or their dependents or beneficiaries has an insurable interest in the lives of employees for whom the benefits are to be provided. (b) Any employer, corporation, business entity, or trustee of a trust under subdivision (c)(1)(D)(i)( a ) of this section may purchase, accept, or otherwise acquire an interest in personal insurance as a beneficiary or owner. (ii) (a) Employers have a lawful and substantial economic interest in the lives of key employees and in other employees who have a reasonable expectation of benefiting from a pension and welfare benefit plan. (b) Any employer, corporation, business entity, or trustee under this subdivision (c)(1)(D) shall obtain the consent of any employee for which it obtained personal insurance, if the personal insurance purchased names the employer, corporation, business entity, or the trustee as a beneficiary. (c) Consent required under subdivision (c)(1)(D)(ii)( b ) of this section shall include an acknowledgement that the employer may maintain the life insurance coverage after the insured individual's employment has terminated. (d) No employer, corporation, business entity, or trustee may lawfully retaliate against any person for refusing to consent to the issuance of insurance on that person. (e) For a non-key or nonmanagerial employee, the amount of coverage shall be reasonably related to the benefits provided to the employee. (f) The life insurance coverage purchased to finance employer-provided pension and welfare benefit plans shall be allowed only on the lives of those employees and retirees who have a reasonable expectation of benefiting from the plan at the time their lives are first insured under the plan. (2) (A) Notwithstanding any other law or regulation to the contrary, any religious, educational, charitable, or benevolent institution, organization, corporation, association, or trust, including, but not limited to, charitable remainder trusts, may be named beneficiary or owner, or both, of the policy or contract by any applicant for insurance upon his or her own life in any policy of life insurance issued by any life insurance company authorized to do business in this state or in the state of domicile of the applicant for insurance. (B) The applicant for insurance shall be deemed to have an unlimited insurable interest in his or her own life, and is entitled to name any of the institutions as beneficiary of the insurance, and the beneficiaries or owners, or both, shall have the right to receive all death benefits provided for by such policies and to exercise the rights of ownership if granted same. (C) As to any life insurance policies heretofore issued by insurers naming any of the institutions referred to in this section as beneficiaries or owners, or both, if the applicant for insurance was also the insured, the beneficiaries or owners shall be entitled to receive all death benefits provided by the policy and to exercise the rights of ownership if granted same. Acts 1959, No. 148, § 271; A.S.A. 1947, § 66-3204; Acts 1989, No. 773, § 1; 1993, No. 1015, § 1; 2003, No. 472, § 1.

(a) (1) Any individual of competent legal capacity may procure or effect an insurance contract upon his or her own life or body for the benefit of any person. (2) However, no person shall procure or cause to be procured any insurance contract upon the life or body of another individual unless the benefits under the contract are payable to: (A) The individual insured or his or her personal representatives; or (B) A person having an insurable interest in the individual insured at the time the contract was made.

(1) Any individual of competent legal capacity may procure or effect an insurance contract upon his or her own life or body for the benefit of any person.

(2) However, no person shall procure or cause to be procured any insurance contract upon the life or body of another individual unless the benefits under the contract are payable to: (A) The individual insured or his or her personal representatives; or (B) A person having an insurable interest in the individual insured at the time the contract was made.

(A) The individual insured or his or her personal representatives; or

(B) A person having an insurable interest in the individual insured at the time the contract was made.

(b) If the beneficiary, assignee, or other payee under any contract made in violation of this section receives from the insurer any benefits thereunder accruing upon the death, disablement, or injury of the individual insured, the individual insured or his or her executor or administrator, as the case may be, may maintain an action to recover the benefits from the person so receiving them.

(c) (1) "Insurable interest" with reference to personal insurance includes only interests as follows: (A) In the case of individuals related closely by blood or by law, a substantial interest engendered by love and affection; (B) In the case of persons to which subdivision (c)(1)(D) of this section does not apply, a lawful and substantial economic interest in having the life, health, or bodily safety of the individual insured continue, as distinguished from an interest that would arise only by, or would be enhanced in value by, the death, disablement, or injury of the individual insured; (C) An individual party to a contract or option for the purchase or sale of an interest in a business partnership or firm, or of shares of stock of a closed corporation or of an interest in such shares, as an insurable interest in the life of each individual party to the contract and for the purposes of the contract only, in addition to any insurable interest that may otherwise exist as to the life of the individual; and (D) (i) (a) Any employer, corporation, other business entity, or the trustee of a trust providing life, health, disability, retirement, or similar benefits to employees, retired employees, or their dependents or beneficiaries has an insurable interest in the lives of employees for whom the benefits are to be provided. (b) Any employer, corporation, business entity, or trustee of a trust under subdivision (c)(1)(D)(i)( a ) of this section may purchase, accept, or otherwise acquire an interest in personal insurance as a beneficiary or owner. (ii) (a) Employers have a lawful and substantial economic interest in the lives of key employees and in other employees who have a reasonable expectation of benefiting from a pension and welfare benefit plan. (b) Any employer, corporation, business entity, or trustee under this subdivision (c)(1)(D) shall obtain the consent of any employee for which it obtained personal insurance, if the personal insurance purchased names the employer, corporation, business entity, or the trustee as a beneficiary. (c) Consent required under subdivision (c)(1)(D)(ii)( b ) of this section shall include an acknowledgement that the employer may maintain the life insurance coverage after the insured individual's employment has terminated. (d) No employer, corporation, business entity, or trustee may lawfully retaliate against any person for refusing to consent to the issuance of insurance on that person. (e) For a non-key or nonmanagerial employee, the amount of coverage shall be reasonably related to the benefits provided to the employee. (f) The life insurance coverage purchased to finance employer-provided pension and welfare benefit plans shall be allowed only on the lives of those employees and retirees who have a reasonable expectation of benefiting from the plan at the time their lives are first insured under the plan. (2) (A) Notwithstanding any other law or regulation to the contrary, any religious, educational, charitable, or benevolent institution, organization, corporation, association, or trust, including, but not limited to, charitable remainder trusts, may be named beneficiary or owner, or both, of the policy or contract by any applicant for insurance upon his or her own life in any policy of life insurance issued by any life insurance company authorized to do business in this state or in the state of domicile of the applicant for insurance. (B) The applicant for insurance shall be deemed to have an unlimited insurable interest in his or her own life, and is entitled to name any of the institutions as beneficiary of the insurance, and the beneficiaries or owners, or both, shall have the right to receive all death benefits provided for by such policies and to exercise the rights of ownership if granted same. (C) As to any life insurance policies heretofore issued by insurers naming any of the institutions referred to in this section as beneficiaries or owners, or both, if the applicant for insurance was also the insured, the beneficiaries or owners shall be entitled to receive all death benefits provided by the policy and to exercise the rights of ownership if granted same.

(1) "Insurable interest" with reference to personal insurance includes only interests as follows: (A) In the case of individuals related closely by blood or by law, a substantial interest engendered by love and affection; (B) In the case of persons to which subdivision (c)(1)(D) of this section does not apply, a lawful and substantial economic interest in having the life, health, or bodily safety of the individual insured continue, as distinguished from an interest that would arise only by, or would be enhanced in value by, the death, disablement, or injury of the individual insured; (C) An individual party to a contract or option for the purchase or sale of an interest in a business partnership or firm, or of shares of stock of a closed corporation or of an interest in such shares, as an insurable interest in the life of each individual party to the contract and for the purposes of the contract only, in addition to any insurable interest that may otherwise exist as to the life of the individual; and (D) (i) (a) Any employer, corporation, other business entity, or the trustee of a trust providing life, health, disability, retirement, or similar benefits to employees, retired employees, or their dependents or beneficiaries has an insurable interest in the lives of employees for whom the benefits are to be provided. (b) Any employer, corporation, business entity, or trustee of a trust under subdivision (c)(1)(D)(i)( a ) of this section may purchase, accept, or otherwise acquire an interest in personal insurance as a beneficiary or owner. (ii) (a) Employers have a lawful and substantial economic interest in the lives of key employees and in other employees who have a reasonable expectation of benefiting from a pension and welfare benefit plan. (b) Any employer, corporation, business entity, or trustee under this subdivision (c)(1)(D) shall obtain the consent of any employee for which it obtained personal insurance, if the personal insurance purchased names the employer, corporation, business entity, or the trustee as a beneficiary. (c) Consent required under subdivision (c)(1)(D)(ii)( b ) of this section shall include an acknowledgement that the employer may maintain the life insurance coverage after the insured individual's employment has terminated. (d) No employer, corporation, business entity, or trustee may lawfully retaliate against any person for refusing to consent to the issuance of insurance on that person. (e) For a non-key or nonmanagerial employee, the amount of coverage shall be reasonably related to the benefits provided to the employee. (f) The life insurance coverage purchased to finance employer-provided pension and welfare benefit plans shall be allowed only on the lives of those employees and retirees who have a reasonable expectation of benefiting from the plan at the time their lives are first insured under the plan.

(A) In the case of individuals related closely by blood or by law, a substantial interest engendered by love and affection;

(B) In the case of persons to which subdivision (c)(1)(D) of this section does not apply, a lawful and substantial economic interest in having the life, health, or bodily safety of the individual insured continue, as distinguished from an interest that would arise only by, or would be enhanced in value by, the death, disablement, or injury of the individual insured;

(C) An individual party to a contract or option for the purchase or sale of an interest in a business partnership or firm, or of shares of stock of a closed corporation or of an interest in such shares, as an insurable interest in the life of each individual party to the contract and for the purposes of the contract only, in addition to any insurable interest that may otherwise exist as to the life of the individual; and

(D) (i) (a) Any employer, corporation, other business entity, or the trustee of a trust providing life, health, disability, retirement, or similar benefits to employees, retired employees, or their dependents or beneficiaries has an insurable interest in the lives of employees for whom the benefits are to be provided. (b) Any employer, corporation, business entity, or trustee of a trust under subdivision (c)(1)(D)(i)( a ) of this section may purchase, accept, or otherwise acquire an interest in personal insurance as a beneficiary or owner. (ii) (a) Employers have a lawful and substantial economic interest in the lives of key employees and in other employees who have a reasonable expectation of benefiting from a pension and welfare benefit plan. (b) Any employer, corporation, business entity, or trustee under this subdivision (c)(1)(D) shall obtain the consent of any employee for which it obtained personal insurance, if the personal insurance purchased names the employer, corporation, business entity, or the trustee as a beneficiary. (c) Consent required under subdivision (c)(1)(D)(ii)( b ) of this section shall include an acknowledgement that the employer may maintain the life insurance coverage after the insured individual's employment has terminated. (d) No employer, corporation, business entity, or trustee may lawfully retaliate against any person for refusing to consent to the issuance of insurance on that person. (e) For a non-key or nonmanagerial employee, the amount of coverage shall be reasonably related to the benefits provided to the employee. (f) The life insurance coverage purchased to finance employer-provided pension and welfare benefit plans shall be allowed only on the lives of those employees and retirees who have a reasonable expectation of benefiting from the plan at the time their lives are first insured under the plan.

(i) (a) Any employer, corporation, other business entity, or the trustee of a trust providing life, health, disability, retirement, or similar benefits to employees, retired employees, or their dependents or beneficiaries has an insurable interest in the lives of employees for whom the benefits are to be provided. (b) Any employer, corporation, business entity, or trustee of a trust under subdivision (c)(1)(D)(i)( a ) of this section may purchase, accept, or otherwise acquire an interest in personal insurance as a beneficiary or owner.

(a) Any employer, corporation, other business entity, or the trustee of a trust providing life, health, disability, retirement, or similar benefits to employees, retired employees, or their dependents or beneficiaries has an insurable interest in the lives of employees for whom the benefits are to be provided.

(b) Any employer, corporation, business entity, or trustee of a trust under subdivision (c)(1)(D)(i)( a ) of this section may purchase, accept, or otherwise acquire an interest in personal insurance as a beneficiary or owner.

(ii) (a) Employers have a lawful and substantial economic interest in the lives of key employees and in other employees who have a reasonable expectation of benefiting from a pension and welfare benefit plan. (b) Any employer, corporation, business entity, or trustee under this subdivision (c)(1)(D) shall obtain the consent of any employee for which it obtained personal insurance, if the personal insurance purchased names the employer, corporation, business entity, or the trustee as a beneficiary. (c) Consent required under subdivision (c)(1)(D)(ii)( b ) of this section shall include an acknowledgement that the employer may maintain the life insurance coverage after the insured individual's employment has terminated. (d) No employer, corporation, business entity, or trustee may lawfully retaliate against any person for refusing to consent to the issuance of insurance on that person. (e) For a non-key or nonmanagerial employee, the amount of coverage shall be reasonably related to the benefits provided to the employee. (f) The life insurance coverage purchased to finance employer-provided pension and welfare benefit plans shall be allowed only on the lives of those employees and retirees who have a reasonable expectation of benefiting from the plan at the time their lives are first insured under the plan.

(a) Employers have a lawful and substantial economic interest in the lives of key employees and in other employees who have a reasonable expectation of benefiting from a pension and welfare benefit plan.

(b) Any employer, corporation, business entity, or trustee under this subdivision (c)(1)(D) shall obtain the consent of any employee for which it obtained personal insurance, if the personal insurance purchased names the employer, corporation, business entity, or the trustee as a beneficiary.

(c) Consent required under subdivision (c)(1)(D)(ii)( b ) of this section shall include an acknowledgement that the employer may maintain the life insurance coverage after the insured individual's employment has terminated.

(d) No employer, corporation, business entity, or trustee may lawfully retaliate against any person for refusing to consent to the issuance of insurance on that person.

(e) For a non-key or nonmanagerial employee, the amount of coverage shall be reasonably related to the benefits provided to the employee.

(f) The life insurance coverage purchased to finance employer-provided pension and welfare benefit plans shall be allowed only on the lives of those employees and retirees who have a reasonable expectation of benefiting from the plan at the time their lives are first insured under the plan.

(2) (A) Notwithstanding any other law or regulation to the contrary, any religious, educational, charitable, or benevolent institution, organization, corporation, association, or trust, including, but not limited to, charitable remainder trusts, may be named beneficiary or owner, or both, of the policy or contract by any applicant for insurance upon his or her own life in any policy of life insurance issued by any life insurance company authorized to do business in this state or in the state of domicile of the applicant for insurance. (B) The applicant for insurance shall be deemed to have an unlimited insurable interest in his or her own life, and is entitled to name any of the institutions as beneficiary of the insurance, and the beneficiaries or owners, or both, shall have the right to receive all death benefits provided for by such policies and to exercise the rights of ownership if granted same. (C) As to any life insurance policies heretofore issued by insurers naming any of the institutions referred to in this section as beneficiaries or owners, or both, if the applicant for insurance was also the insured, the beneficiaries or owners shall be entitled to receive all death benefits provided by the policy and to exercise the rights of ownership if granted same.

(A) Notwithstanding any other law or regulation to the contrary, any religious, educational, charitable, or benevolent institution, organization, corporation, association, or trust, including, but not limited to, charitable remainder trusts, may be named beneficiary or owner, or both, of the policy or contract by any applicant for insurance upon his or her own life in any policy of life insurance issued by any life insurance company authorized to do business in this state or in the state of domicile of the applicant for insurance.

(B) The applicant for insurance shall be deemed to have an unlimited insurable interest in his or her own life, and is entitled to name any of the institutions as beneficiary of the insurance, and the beneficiaries or owners, or both, shall have the right to receive all death benefits provided for by such policies and to exercise the rights of ownership if granted same.

(C) As to any life insurance policies heretofore issued by insurers naming any of the institutions referred to in this section as beneficiaries or owners, or both, if the applicant for insurance was also the insured, the beneficiaries or owners shall be entitled to receive all death benefits provided by the policy and to exercise the rights of ownership if granted same.

Acts 1959, No. 148, § 271; A.S.A. 1947, § 66-3204; Acts 1989, No. 773, § 1; 1993, No. 1015, § 1; 2003, No. 472, § 1.
Ark. Code Ann. § 23-4-1107 — AR Code / Title 23 / Chapter 4 / Subchapter 11 / Section 23-4-1107
Commission's jurisdiction not affected
Status: in_force

This subchapter does not affect the Arkansas Public Service Commission's jurisdiction over a generation and transmission cooperative, including without limitation the authority to investigate and set the rates and charges of the generation and transmission cooperative, or a member cooperative as otherwise provided by law. Acts 2009, No. 676, § 1.

This subchapter does not affect the Arkansas Public Service Commission's jurisdiction over a generation and transmission cooperative, including without limitation the authority to investigate and set the rates and charges of the generation and transmission cooperative, or a member cooperative as otherwise provided by law.

Acts 2009, No. 676, § 1.
Ark. Code Ann. § 23-78-120 — AR Code / Title 23 / Chapter 78 / Section 23-78-120
Annual reports
Status: in_force

(a) (1) Using forms provided by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services, each burial association or society licensed in this state shall file an annual report showing the actual financial condition of the burial association or society as of December 31 of each year. (2) The report shall include documents and information as required by rule of the board. (b) (1) (A) The report required under this section is due as of December 31 each year. (B) A report is delinquent if it is due as of December 31, and it is filed with the board after March 15 of the year next following the year it is due. (2) If a due date under subdivision (b)(1) of this section falls on a weekend or holiday, the report shall be due on the first business day following the weekend or holiday. (3) (A) The board may grant an extension of time to submit a report for good cause. (B) A burial association or society shall file a request for an extension to the board in writing before the due date of the report. (4) (A) A report submitted to the board that omits required documents or information shall not be considered as filed with the board and will be returned to the burial association or society for corrections or completion. (B) A report that omits required documents or information is delinquent if the submission of documents or information to complete the report causes a report that is due as of December 31 to be filed with the board after March 15 of the year next following the year it is due. (5) A burial association or society whose report is delinquent is subject to a financial penalty established by rule of the board. (c) (1) The board shall recover costs incurred in conducting audits and preparing the annual report from those associations which fail to file the report before the expiration of the deadline referred to in subsection (b) of this section. (2) Costs to be recouped shall include: (A) Round-trip mileage from the board's office to the association, at the rate then prevailing for other state employees engaged in travel; (B) Per diem expenses at the rate then prevailing for other state employees engaged in travel; and (C) A two-hundred-fifty-dollar fee for preparing the annual report. Amended by Act 2023, No. 82,§ 1, eff. 8/1/2023. Amended by Act 2021, No. 537,§ 2, eff. 7/28/2021. Amended by Act 2021, No. 537,§ 1, eff. 7/28/2021. Amended by Act 2017, No. 788,§ 83, eff. 7/1/2018. Acts 1953, No. 91, § 14; 1985, No. 480, § 2; A.S.A. 1947, § 66-1814; Acts 2011, No. 875, § 4.

(a) (1) Using forms provided by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services, each burial association or society licensed in this state shall file an annual report showing the actual financial condition of the burial association or society as of December 31 of each year. (2) The report shall include documents and information as required by rule of the board.

(1) Using forms provided by the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services, each burial association or society licensed in this state shall file an annual report showing the actual financial condition of the burial association or society as of December 31 of each year.

(2) The report shall include documents and information as required by rule of the board.

(b) (1) (A) The report required under this section is due as of December 31 each year. (B) A report is delinquent if it is due as of December 31, and it is filed with the board after March 15 of the year next following the year it is due. (2) If a due date under subdivision (b)(1) of this section falls on a weekend or holiday, the report shall be due on the first business day following the weekend or holiday. (3) (A) The board may grant an extension of time to submit a report for good cause. (B) A burial association or society shall file a request for an extension to the board in writing before the due date of the report. (4) (A) A report submitted to the board that omits required documents or information shall not be considered as filed with the board and will be returned to the burial association or society for corrections or completion. (B) A report that omits required documents or information is delinquent if the submission of documents or information to complete the report causes a report that is due as of December 31 to be filed with the board after March 15 of the year next following the year it is due. (5) A burial association or society whose report is delinquent is subject to a financial penalty established by rule of the board.

(1) (A) The report required under this section is due as of December 31 each year. (B) A report is delinquent if it is due as of December 31, and it is filed with the board after March 15 of the year next following the year it is due.

(A) The report required under this section is due as of December 31 each year.

(B) A report is delinquent if it is due as of December 31, and it is filed with the board after March 15 of the year next following the year it is due.

(2) If a due date under subdivision (b)(1) of this section falls on a weekend or holiday, the report shall be due on the first business day following the weekend or holiday.

(3) (A) The board may grant an extension of time to submit a report for good cause. (B) A burial association or society shall file a request for an extension to the board in writing before the due date of the report.

(A) The board may grant an extension of time to submit a report for good cause.

(B) A burial association or society shall file a request for an extension to the board in writing before the due date of the report.

(4) (A) A report submitted to the board that omits required documents or information shall not be considered as filed with the board and will be returned to the burial association or society for corrections or completion. (B) A report that omits required documents or information is delinquent if the submission of documents or information to complete the report causes a report that is due as of December 31 to be filed with the board after March 15 of the year next following the year it is due.

(A) A report submitted to the board that omits required documents or information shall not be considered as filed with the board and will be returned to the burial association or society for corrections or completion.

(B) A report that omits required documents or information is delinquent if the submission of documents or information to complete the report causes a report that is due as of December 31 to be filed with the board after March 15 of the year next following the year it is due.

(5) A burial association or society whose report is delinquent is subject to a financial penalty established by rule of the board.

(c) (1) The board shall recover costs incurred in conducting audits and preparing the annual report from those associations which fail to file the report before the expiration of the deadline referred to in subsection (b) of this section. (2) Costs to be recouped shall include: (A) Round-trip mileage from the board's office to the association, at the rate then prevailing for other state employees engaged in travel; (B) Per diem expenses at the rate then prevailing for other state employees engaged in travel; and (C) A two-hundred-fifty-dollar fee for preparing the annual report.

(1) The board shall recover costs incurred in conducting audits and preparing the annual report from those associations which fail to file the report before the expiration of the deadline referred to in subsection (b) of this section.

(2) Costs to be recouped shall include: (A) Round-trip mileage from the board's office to the association, at the rate then prevailing for other state employees engaged in travel; (B) Per diem expenses at the rate then prevailing for other state employees engaged in travel; and (C) A two-hundred-fifty-dollar fee for preparing the annual report.

(A) Round-trip mileage from the board's office to the association, at the rate then prevailing for other state employees engaged in travel;

(B) Per diem expenses at the rate then prevailing for other state employees engaged in travel; and

(C) A two-hundred-fifty-dollar fee for preparing the annual report.

Amended by Act 2023, No. 82,§ 1, eff. 8/1/2023.

Amended by Act 2021, No. 537,§ 2, eff. 7/28/2021.

Amended by Act 2021, No. 537,§ 1, eff. 7/28/2021.

Amended by Act 2017, No. 788,§ 83, eff. 7/1/2018.

Acts 1953, No. 91, § 14; 1985, No. 480, § 2; A.S.A. 1947, § 66-1814; Acts 2011, No. 875, § 4.
Ark. Code Ann. § 23-17-202 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-202
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Acquire" means and includes construct, acquire by purchase, lease, devise, gift, or other modes of acquisition; (2) "Board" means a board of directors of a corporation organized under this subchapter; (3) "Commission" means the Arkansas Public Service Commission; (4) "Cooperative" means a corporation organized and operating pursuant to the provisions of this subchapter; (5) "Federal agency" includes the United States and any department, administration, commission, board, bureau, office, establishment, agency, authority, or other instrumentality of the United States; (6) "Member" means an incorporator of a cooperative and each person thereafter lawfully admitted to and retaining membership therein; (7) "Municipality" means any incorporated city or town of this state; (8) "Obligations" includes bonds, notes, debentures, interim certificates, or receipts and all other evidences of indebtedness issued by a cooperative. However, obligations shall not include amounts represented by capital stock, certificates of membership, or amounts due as patronage profits; (9) "Person" includes any natural person, firm, association, corporation, business trust, or partnership; (10) "Rural area" means any area within this state which is located outside the boundaries of any incorporated or unincorporated city, town, or village having a population in excess of two thousand five hundred (2,500) inhabitants according to the last preceding federal census; (11) "State agency" includes the State of Arkansas and any department, administration, commission, board, bureau, office, establishment, agency, authority, instrumentality, or any political subdivision of the State of Arkansas; (12) "Telecommunications company" means any person, firm, partnership, corporation, association, or other entity that offers telecommunications services to the public for compensation; and (13) "Telecommunications service" means the offering to the public for compensation the transmission of voice, data, or other electronic information at any frequency over any part of the electromagnetic spectrum, notwithstanding any other use of the associated facilities. Such term does not include radio and television broadcast or distribution services or the provision or publishing of yellow pages, regardless of the entity providing such services or services to the extent that such services are used in connection with the operation of an electric utility system owned by a government entity. Acts 1951, No. 51, § 2; A.S.A. 1947, § 77-1602; Acts 1989, No. 437, § 2; 1997, No. 316, § 1.

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

(1) "Acquire" means and includes construct, acquire by purchase, lease, devise, gift, or other modes of acquisition;

(2) "Board" means a board of directors of a corporation organized under this subchapter;

(3) "Commission" means the Arkansas Public Service Commission;

(4) "Cooperative" means a corporation organized and operating pursuant to the provisions of this subchapter;

(5) "Federal agency" includes the United States and any department, administration, commission, board, bureau, office, establishment, agency, authority, or other instrumentality of the United States;

(6) "Member" means an incorporator of a cooperative and each person thereafter lawfully admitted to and retaining membership therein;

(7) "Municipality" means any incorporated city or town of this state;

(8) "Obligations" includes bonds, notes, debentures, interim certificates, or receipts and all other evidences of indebtedness issued by a cooperative. However, obligations shall not include amounts represented by capital stock, certificates of membership, or amounts due as patronage profits;

(9) "Person" includes any natural person, firm, association, corporation, business trust, or partnership;

(10) "Rural area" means any area within this state which is located outside the boundaries of any incorporated or unincorporated city, town, or village having a population in excess of two thousand five hundred (2,500) inhabitants according to the last preceding federal census;

(11) "State agency" includes the State of Arkansas and any department, administration, commission, board, bureau, office, establishment, agency, authority, instrumentality, or any political subdivision of the State of Arkansas;

(12) "Telecommunications company" means any person, firm, partnership, corporation, association, or other entity that offers telecommunications services to the public for compensation; and

(13) "Telecommunications service" means the offering to the public for compensation the transmission of voice, data, or other electronic information at any frequency over any part of the electromagnetic spectrum, notwithstanding any other use of the associated facilities. Such term does not include radio and television broadcast or distribution services or the provision or publishing of yellow pages, regardless of the entity providing such services or services to the extent that such services are used in connection with the operation of an electric utility system owned by a government entity.

Acts 1951, No. 51, § 2; A.S.A. 1947, § 77-1602; Acts 1989, No. 437, § 2; 1997, No. 316, § 1.
Ark. Code Ann. § 23-18-304 — AR Code / Title 23 / Chapter 18 / Subchapter 3 / Section 23-18-304
Other laws inapplicable
Status: in_force

This subchapter is complete in itself and shall be controlling. The provisions of any other law of this state, except as provided in this subchapter, shall not apply to a corporation organized under this subchapter. Acts 1937, No. 342, § 37; Pope's Dig., § 2351; A.S.A. 1947, § 77-1136.

This subchapter is complete in itself and shall be controlling. The provisions of any other law of this state, except as provided in this subchapter, shall not apply to a corporation organized under this subchapter.

Acts 1937, No. 342, § 37; Pope's Dig., § 2351; A.S.A. 1947, § 77-1136.
Ark. Code Ann. § 23-12-411 — AR Code / Title 23 / Chapter 12 / Subchapter 4 / Section 23-12-411
Warning boards required at crossings - Exception
Status: in_force

(a) Every railroad corporation in this state shall cause boards to be placed, well-supported by posts or otherwise, and constantly maintained across each public road or street where the public road or street is crossed by the railroad on the same level. (b) (1) The boards shall be elevated so as not to obstruct travel and to be easily seen by travelers. (2) On each side of the boards shall be printed, in capital letters of at least the size of nine inches (9") each, the words, "RAILROAD CROSSING". (3) This section shall not apply to streets in cities or villages unless the corporation is required to put up the boards by the officers having charge of the streets. Acts 1868, No. 71, § 35, p. 290; C. & M. Dig., § 8488; Pope's Dig., § 11062; A.S.A. 1947, § 73-717; Acts 1993, No. 399, § 3.

(a) Every railroad corporation in this state shall cause boards to be placed, well-supported by posts or otherwise, and constantly maintained across each public road or street where the public road or street is crossed by the railroad on the same level.

(b) (1) The boards shall be elevated so as not to obstruct travel and to be easily seen by travelers. (2) On each side of the boards shall be printed, in capital letters of at least the size of nine inches (9") each, the words, "RAILROAD CROSSING". (3) This section shall not apply to streets in cities or villages unless the corporation is required to put up the boards by the officers having charge of the streets.

(1) The boards shall be elevated so as not to obstruct travel and to be easily seen by travelers.

(2) On each side of the boards shall be printed, in capital letters of at least the size of nine inches (9") each, the words, "RAILROAD CROSSING".

(3) This section shall not apply to streets in cities or villages unless the corporation is required to put up the boards by the officers having charge of the streets.

Acts 1868, No. 71, § 35, p. 290; C. & M. Dig., § 8488; Pope's Dig., § 11062; A.S.A. 1947, § 73-717; Acts 1993, No. 399, § 3.
Ark. Code Ann. § 23-40-115 — AR Code / Title 23 / Chapter 40 / Section 23-40-115
Trust funds - Investments
Status: in_force

(a) The trustees shall invest the trust fund only in the following: (1) Demand deposits, savings accounts, certificates of deposit, and all other accounts that are insured by the Federal Deposit Insurance Corporation; (2) Bonds and obligations that are insured by, fully guaranteed as to principal and interest by, and due from the United States Government or any of its agencies, including the Federal National Mortgage Association and the Government National Mortgage Association, and any repurchase obligations that are secured by any of the foregoing; (3) The following bonds or obligations: (A) (i) Corporate, state, municipal, or political subdivision bonds or obligations that at the time of purchase are rated A or better by Moody's Investors Service, Inc. or A or better by S&P Global Ratings. (ii) The Insurance Commissioner by rule may permit the continued investment in a bond purchased in compliance with subdivision (a)(3)(A)(i) of this section that is subsequently downgraded for the time and in the amounts established by the commissioner; and (B) (i) Bonds of any school district in this state. (ii) However, no more than thirty percent (30%) of the total trust assets may be invested in such school district bonds; and (4) (A) Mutual funds or common trust funds whose portfolio is made up of investments that are described in subdivisions (a)(1)-(3) of this section. (B) Investments described in subdivisions (a)(2) and (3) and subdivision (a)(4)(A) of this section shall be purchased and held by the trustee that has trust powers under a trust agreement filed with and approved by the commissioner. (b) The trustee shall maintain the trust fund in a manner consistent with the following investment policies: (1) The trust fund shall contain at all times liquid investments having a cost basis not less than thirty percent (30%) of the total contract proceeds disbursed from the trust fund as described in § 23-40-116(1) -(3) during the preceding calendar year; (2) (A) An investment shall not be sold, exchanged, or liquidated at less than its cost if it would result in the aggregate cost basis of the trust fund minus undistributed net investment income being less than the aggregate amount of contract proceeds held in the trust fund. (B) However, this prohibition shall not apply if the seller contemporaneously deposits with the trustee a sum of money or other property in an amount equal to the loss realized upon the sale, exchange, or liquidation of the investment; (3) (A) For cash-funded trust contracts, the portion of the contract proceeds collected for cash accommodation items pursuant to the terms of a contract shall be deposited into a separate account which shall be clearly identified as "cash accommodation funds" and shall state the name of the contract buyer. (B) All income earned on the cash accommodation funds shall become a part of the principal of the respective accounts; and (4) For insurance-funded or annuity-funded contracts, if nonguaranteed cash accommodation items are included in the contract total, the entire amount may be included in the purchase premium of the insurance or annuity policy used to fund the contract if a proration calculation is used to identify the portion of the accrued interest income that is associated with the nonguaranteed portion of the contract. Amended by Act 2019, No. 391,§ 3, eff. 7/24/2019. Amended by Act 2017, No. 283,§ 2, eff. 8/1/2017. Amended by Act 2013, No. 476,§ 5, eff. 8/16/2013. Amended by Act 2013, No. 476,§ 4, eff. 8/16/2013. Acts 1985, No. 156, § 8; A.S.A. 1947, § 67-1720; Acts 1993, No. 406, § 1; Acts 1995, No. 852, § 7.

(a) The trustees shall invest the trust fund only in the following: (1) Demand deposits, savings accounts, certificates of deposit, and all other accounts that are insured by the Federal Deposit Insurance Corporation; (2) Bonds and obligations that are insured by, fully guaranteed as to principal and interest by, and due from the United States Government or any of its agencies, including the Federal National Mortgage Association and the Government National Mortgage Association, and any repurchase obligations that are secured by any of the foregoing; (3) The following bonds or obligations: (A) (i) Corporate, state, municipal, or political subdivision bonds or obligations that at the time of purchase are rated A or better by Moody's Investors Service, Inc. or A or better by S&P Global Ratings. (ii) The Insurance Commissioner by rule may permit the continued investment in a bond purchased in compliance with subdivision (a)(3)(A)(i) of this section that is subsequently downgraded for the time and in the amounts established by the commissioner; and (B) (i) Bonds of any school district in this state. (ii) However, no more than thirty percent (30%) of the total trust assets may be invested in such school district bonds; and (4) (A) Mutual funds or common trust funds whose portfolio is made up of investments that are described in subdivisions (a)(1)-(3) of this section. (B) Investments described in subdivisions (a)(2) and (3) and subdivision (a)(4)(A) of this section shall be purchased and held by the trustee that has trust powers under a trust agreement filed with and approved by the commissioner.

(1) Demand deposits, savings accounts, certificates of deposit, and all other accounts that are insured by the Federal Deposit Insurance Corporation;

(2) Bonds and obligations that are insured by, fully guaranteed as to principal and interest by, and due from the United States Government or any of its agencies, including the Federal National Mortgage Association and the Government National Mortgage Association, and any repurchase obligations that are secured by any of the foregoing;

(3) The following bonds or obligations: (A) (i) Corporate, state, municipal, or political subdivision bonds or obligations that at the time of purchase are rated A or better by Moody's Investors Service, Inc. or A or better by S&P Global Ratings. (ii) The Insurance Commissioner by rule may permit the continued investment in a bond purchased in compliance with subdivision (a)(3)(A)(i) of this section that is subsequently downgraded for the time and in the amounts established by the commissioner; and (B) (i) Bonds of any school district in this state. (ii) However, no more than thirty percent (30%) of the total trust assets may be invested in such school district bonds; and

(A) (i) Corporate, state, municipal, or political subdivision bonds or obligations that at the time of purchase are rated A or better by Moody's Investors Service, Inc. or A or better by S&P Global Ratings. (ii) The Insurance Commissioner by rule may permit the continued investment in a bond purchased in compliance with subdivision (a)(3)(A)(i) of this section that is subsequently downgraded for the time and in the amounts established by the commissioner; and

(i) Corporate, state, municipal, or political subdivision bonds or obligations that at the time of purchase are rated A or better by Moody's Investors Service, Inc. or A or better by S&P Global Ratings.

(ii) The Insurance Commissioner by rule may permit the continued investment in a bond purchased in compliance with subdivision (a)(3)(A)(i) of this section that is subsequently downgraded for the time and in the amounts established by the commissioner; and

(B) (i) Bonds of any school district in this state. (ii) However, no more than thirty percent (30%) of the total trust assets may be invested in such school district bonds; and

(i) Bonds of any school district in this state.

(ii) However, no more than thirty percent (30%) of the total trust assets may be invested in such school district bonds; and

(4) (A) Mutual funds or common trust funds whose portfolio is made up of investments that are described in subdivisions (a)(1)-(3) of this section. (B) Investments described in subdivisions (a)(2) and (3) and subdivision (a)(4)(A) of this section shall be purchased and held by the trustee that has trust powers under a trust agreement filed with and approved by the commissioner.

(A) Mutual funds or common trust funds whose portfolio is made up of investments that are described in subdivisions (a)(1)-(3) of this section.

(B) Investments described in subdivisions (a)(2) and (3) and subdivision (a)(4)(A) of this section shall be purchased and held by the trustee that has trust powers under a trust agreement filed with and approved by the commissioner.

(b) The trustee shall maintain the trust fund in a manner consistent with the following investment policies: (1) The trust fund shall contain at all times liquid investments having a cost basis not less than thirty percent (30%) of the total contract proceeds disbursed from the trust fund as described in § 23-40-116(1) -(3) during the preceding calendar year; (2) (A) An investment shall not be sold, exchanged, or liquidated at less than its cost if it would result in the aggregate cost basis of the trust fund minus undistributed net investment income being less than the aggregate amount of contract proceeds held in the trust fund. (B) However, this prohibition shall not apply if the seller contemporaneously deposits with the trustee a sum of money or other property in an amount equal to the loss realized upon the sale, exchange, or liquidation of the investment; (3) (A) For cash-funded trust contracts, the portion of the contract proceeds collected for cash accommodation items pursuant to the terms of a contract shall be deposited into a separate account which shall be clearly identified as "cash accommodation funds" and shall state the name of the contract buyer. (B) All income earned on the cash accommodation funds shall become a part of the principal of the respective accounts; and (4) For insurance-funded or annuity-funded contracts, if nonguaranteed cash accommodation items are included in the contract total, the entire amount may be included in the purchase premium of the insurance or annuity policy used to fund the contract if a proration calculation is used to identify the portion of the accrued interest income that is associated with the nonguaranteed portion of the contract.

(1) The trust fund shall contain at all times liquid investments having a cost basis not less than thirty percent (30%) of the total contract proceeds disbursed from the trust fund as described in § 23-40-116(1) -(3) during the preceding calendar year;

(2) (A) An investment shall not be sold, exchanged, or liquidated at less than its cost if it would result in the aggregate cost basis of the trust fund minus undistributed net investment income being less than the aggregate amount of contract proceeds held in the trust fund. (B) However, this prohibition shall not apply if the seller contemporaneously deposits with the trustee a sum of money or other property in an amount equal to the loss realized upon the sale, exchange, or liquidation of the investment;

(A) An investment shall not be sold, exchanged, or liquidated at less than its cost if it would result in the aggregate cost basis of the trust fund minus undistributed net investment income being less than the aggregate amount of contract proceeds held in the trust fund.

(B) However, this prohibition shall not apply if the seller contemporaneously deposits with the trustee a sum of money or other property in an amount equal to the loss realized upon the sale, exchange, or liquidation of the investment;

(3) (A) For cash-funded trust contracts, the portion of the contract proceeds collected for cash accommodation items pursuant to the terms of a contract shall be deposited into a separate account which shall be clearly identified as "cash accommodation funds" and shall state the name of the contract buyer. (B) All income earned on the cash accommodation funds shall become a part of the principal of the respective accounts; and

(A) For cash-funded trust contracts, the portion of the contract proceeds collected for cash accommodation items pursuant to the terms of a contract shall be deposited into a separate account which shall be clearly identified as "cash accommodation funds" and shall state the name of the contract buyer.

(B) All income earned on the cash accommodation funds shall become a part of the principal of the respective accounts; and

(4) For insurance-funded or annuity-funded contracts, if nonguaranteed cash accommodation items are included in the contract total, the entire amount may be included in the purchase premium of the insurance or annuity policy used to fund the contract if a proration calculation is used to identify the portion of the accrued interest income that is associated with the nonguaranteed portion of the contract.

Amended by Act 2019, No. 391,§ 3, eff. 7/24/2019.

Amended by Act 2017, No. 283,§ 2, eff. 8/1/2017.

Amended by Act 2013, No. 476,§ 5, eff. 8/16/2013.

Amended by Act 2013, No. 476,§ 4, eff. 8/16/2013.

Acts 1985, No. 156, § 8; A.S.A. 1947, § 67-1720; Acts 1993, No. 406, § 1; Acts 1995, No. 852, § 7.
Ark. Code Ann. § 23-115-603 — AR Code / Title 23 / Chapter 115 / Subchapter 6 / Section 23-115-603
Bond account for deposit of bond fees - Reserve account to cover losses - Retailer bond
Status: in_force

(a) (1) The Office of the Arkansas Lottery shall require a retailer to post a bond in a sufficient amount as determined by the office. (2) The amount of the bond under subdivision (a)(1) of this section shall not exceed two hundred dollars ($200). (3) The office shall establish a separate account into which bond fees shall be deposited. (4) Moneys deposited into the bond account may be: (A) Invested or deposited into one (1) or more interest-bearing accounts; (B) Used to cover losses the office experiences due to nonfeasance, misfeasance, or malfeasance of a retailer; and (C) Used to purchase blanket bonds covering the office against losses from all retailers. (5) At the end of each fiscal year, the office shall pay to the trust account managed and maintained by the Division of Higher Education any amount in the bond account established under subdivision (a)(3) of this section that exceeds five hundred thousand dollars ($500,000), and the funds shall be considered net proceeds from a lottery. (b) (1) A reserve account may be established as a general operating expense to cover amounts deemed uncollectible. (2) The office shall establish procedures for minimizing any losses that may be deemed uncollectible and shall exercise and exhaust all available options in those procedures before writing off amounts to the reserve account that may be established under subdivision (b)(1) of this section. Amended by Act 2019, No. 683,§ 1, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 2356, eff. 7/1/2019. Amended by Act 2015, No. 1076,§ 1, eff. 7/22/2015. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) (1) The Office of the Arkansas Lottery shall require a retailer to post a bond in a sufficient amount as determined by the office. (2) The amount of the bond under subdivision (a)(1) of this section shall not exceed two hundred dollars ($200). (3) The office shall establish a separate account into which bond fees shall be deposited. (4) Moneys deposited into the bond account may be: (A) Invested or deposited into one (1) or more interest-bearing accounts; (B) Used to cover losses the office experiences due to nonfeasance, misfeasance, or malfeasance of a retailer; and (C) Used to purchase blanket bonds covering the office against losses from all retailers. (5) At the end of each fiscal year, the office shall pay to the trust account managed and maintained by the Division of Higher Education any amount in the bond account established under subdivision (a)(3) of this section that exceeds five hundred thousand dollars ($500,000), and the funds shall be considered net proceeds from a lottery.

(1) The Office of the Arkansas Lottery shall require a retailer to post a bond in a sufficient amount as determined by the office.

(2) The amount of the bond under subdivision (a)(1) of this section shall not exceed two hundred dollars ($200).

(3) The office shall establish a separate account into which bond fees shall be deposited.

(4) Moneys deposited into the bond account may be: (A) Invested or deposited into one (1) or more interest-bearing accounts; (B) Used to cover losses the office experiences due to nonfeasance, misfeasance, or malfeasance of a retailer; and (C) Used to purchase blanket bonds covering the office against losses from all retailers.

(A) Invested or deposited into one (1) or more interest-bearing accounts;

(B) Used to cover losses the office experiences due to nonfeasance, misfeasance, or malfeasance of a retailer; and

(C) Used to purchase blanket bonds covering the office against losses from all retailers.

(5) At the end of each fiscal year, the office shall pay to the trust account managed and maintained by the Division of Higher Education any amount in the bond account established under subdivision (a)(3) of this section that exceeds five hundred thousand dollars ($500,000), and the funds shall be considered net proceeds from a lottery.

(b) (1) A reserve account may be established as a general operating expense to cover amounts deemed uncollectible. (2) The office shall establish procedures for minimizing any losses that may be deemed uncollectible and shall exercise and exhaust all available options in those procedures before writing off amounts to the reserve account that may be established under subdivision (b)(1) of this section.

(1) A reserve account may be established as a general operating expense to cover amounts deemed uncollectible.

(2) The office shall establish procedures for minimizing any losses that may be deemed uncollectible and shall exercise and exhaust all available options in those procedures before writing off amounts to the reserve account that may be established under subdivision (b)(1) of this section.

Amended by Act 2019, No. 683,§ 1, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 2356, eff. 7/1/2019.

Amended by Act 2015, No. 1076,§ 1, eff. 7/22/2015.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-79-1702 — AR Code / Title 23 / Chapter 79 / Subchapter 17 / Section 23-79-1702
Definitions
Status: in_force

As used in this subchapter: (1) "Board" means the State Board of Finance; (2) "Choosing Wisely initiative" means the initiative established by the American Board of Internal Medicine Foundation that seeks to advance a national dialogue on avoiding wasteful or unnecessary medical tests, treatments, and procedures; (3) "Emerging therapies" means therapeutic services that have not historically been covered but for which new evidence may demonstrate therapeutic enhancements or opportunities for cost avoidance, or both; (4) "Evidence" means peer-reviewed objective studies of emerging therapies; and (5) "Regenerative injection therapy" means a nonsurgical orthopedic treatment performed by injecting into a joint or soft tissue a substance that stimulates the growth of normal cells and tissues for the purpose of strengthening or repairing a painful or injured joint or connective tissue. Amended by Act 2021, No. 1004,§ 23, eff. 4/28/2021. Added by Act 2017, No. 1089,§ 2, eff. 8/1/2017.

As used in this subchapter:

(1) "Board" means the State Board of Finance;

(2) "Choosing Wisely initiative" means the initiative established by the American Board of Internal Medicine Foundation that seeks to advance a national dialogue on avoiding wasteful or unnecessary medical tests, treatments, and procedures;

(3) "Emerging therapies" means therapeutic services that have not historically been covered but for which new evidence may demonstrate therapeutic enhancements or opportunities for cost avoidance, or both;

(4) "Evidence" means peer-reviewed objective studies of emerging therapies; and

(5) "Regenerative injection therapy" means a nonsurgical orthopedic treatment performed by injecting into a joint or soft tissue a substance that stimulates the growth of normal cells and tissues for the purpose of strengthening or repairing a painful or injured joint or connective tissue.

Amended by Act 2021, No. 1004,§ 23, eff. 4/28/2021.

Added by Act 2017, No. 1089,§ 2, eff. 8/1/2017.
Ark. Code Ann. § 23-18-805 — AR Code / Title 23 / Chapter 18 / Subchapter 8 / Section 23-18-805
Jurisdiction
Status: in_force

(a) Except as provided in this subchapter, neither the state nor any agency, instrumentality, or political subdivision of the state has jurisdiction over: (1) An electric utility's ownership or operation of a broadband system; or (2) The provision of broadband services by the electric utility, a broadband affiliate, or a broadband operator. (b) Nothing in this subchapter shall interfere with the Arkansas Public Service Commission's authority to regulate public utilities pursuant to § 23-2-301 et seq. Acts 2007, No. 739, § 1.

(a) Except as provided in this subchapter, neither the state nor any agency, instrumentality, or political subdivision of the state has jurisdiction over: (1) An electric utility's ownership or operation of a broadband system; or (2) The provision of broadband services by the electric utility, a broadband affiliate, or a broadband operator.

(1) An electric utility's ownership or operation of a broadband system; or

(2) The provision of broadband services by the electric utility, a broadband affiliate, or a broadband operator.

(b) Nothing in this subchapter shall interfere with the Arkansas Public Service Commission's authority to regulate public utilities pursuant to § 23-2-301 et seq.

Acts 2007, No. 739, § 1.
Ark. Code Ann. § 23-63-2008 — AR Code / Title 23 / Chapter 63 / Subchapter 20 / Section 23-63-2008
Penalties
Status: in_force

(a) An insurer failing, without just cause, to timely file the corporate governance annual disclosure as required under this subchapter shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay, payable to the Insurance Commissioner, and the penalty recovered shall be paid into the General Revenue Fund Account of the State Apportionment Fund. (b) The maximum penalty under subsection (a) of this section is ten thousand dollars ($10,000). (c) The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer. Added by Act 2019, No. 521,§ 16, eff. 7/24/2019.

(a) An insurer failing, without just cause, to timely file the corporate governance annual disclosure as required under this subchapter shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay, payable to the Insurance Commissioner, and the penalty recovered shall be paid into the General Revenue Fund Account of the State Apportionment Fund.

(b) The maximum penalty under subsection (a) of this section is ten thousand dollars ($10,000).

(c) The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.

Added by Act 2019, No. 521,§ 16, eff. 7/24/2019.
Ark. Code Ann. § 23-69-108 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-108
Officers
Status: in_force

(a) (1) (A) Every domestic stock or mutual insurer shall have: (i) (a) A chief executive officer or a president, or both. (b) The chief executive officer or president shall also serve as a member of the board of directors; (ii) A secretary; and (iii) A treasurer. (B) The chief executive officer, president, secretary, and treasurer shall be chosen by the board of directors and shall hold their offices until their respective successors are chosen and qualify. (2) Every domestic stock insurer or mutual insurer may also have one (1) or more vice presidents, who need not be directors; assistant secretaries and assistant treasurers, who need not be directors; and such other officers, agents, and factors as may be deemed necessary. (b) All officers, agents, and factors shall be chosen in such manner, hold their offices for such terms, and have powers and duties as may be prescribed by the bylaws or determined by the board of directors. (c) Any person may hold two (2) or more offices, except that the president shall not be also the secretary or an assistant secretary of the insurer. Acts 1959, No. 148, § 486; A.S.A. 1947, § 66-4234; Acts 2005, No. 506, § 34.

(a) (1) (A) Every domestic stock or mutual insurer shall have: (i) (a) A chief executive officer or a president, or both. (b) The chief executive officer or president shall also serve as a member of the board of directors; (ii) A secretary; and (iii) A treasurer. (B) The chief executive officer, president, secretary, and treasurer shall be chosen by the board of directors and shall hold their offices until their respective successors are chosen and qualify. (2) Every domestic stock insurer or mutual insurer may also have one (1) or more vice presidents, who need not be directors; assistant secretaries and assistant treasurers, who need not be directors; and such other officers, agents, and factors as may be deemed necessary.

(1) (A) Every domestic stock or mutual insurer shall have: (i) (a) A chief executive officer or a president, or both. (b) The chief executive officer or president shall also serve as a member of the board of directors; (ii) A secretary; and (iii) A treasurer. (B) The chief executive officer, president, secretary, and treasurer shall be chosen by the board of directors and shall hold their offices until their respective successors are chosen and qualify.

(A) Every domestic stock or mutual insurer shall have: (i) (a) A chief executive officer or a president, or both. (b) The chief executive officer or president shall also serve as a member of the board of directors; (ii) A secretary; and (iii) A treasurer.

(i) (a) A chief executive officer or a president, or both. (b) The chief executive officer or president shall also serve as a member of the board of directors;

(a) A chief executive officer or a president, or both.

(b) The chief executive officer or president shall also serve as a member of the board of directors;

(ii) A secretary; and

(iii) A treasurer.

(B) The chief executive officer, president, secretary, and treasurer shall be chosen by the board of directors and shall hold their offices until their respective successors are chosen and qualify.

(2) Every domestic stock insurer or mutual insurer may also have one (1) or more vice presidents, who need not be directors; assistant secretaries and assistant treasurers, who need not be directors; and such other officers, agents, and factors as may be deemed necessary.

(b) All officers, agents, and factors shall be chosen in such manner, hold their offices for such terms, and have powers and duties as may be prescribed by the bylaws or determined by the board of directors.

(c) Any person may hold two (2) or more offices, except that the president shall not be also the secretary or an assistant secretary of the insurer.

Acts 1959, No. 148, § 486; A.S.A. 1947, § 66-4234; Acts 2005, No. 506, § 34.
Ark. Code Ann. § 23-111-407 — AR Code / Title 23 / Chapter 111 / Subchapter 4 / Section 23-111-407
Report of changes
Status: in_force

Every holder of a franchise to conduct dog racing in this state shall report any and all changes in its board of directors, executive officers, and other management personnel, and all changes in the ownership of its stock, to the Arkansas Racing Commission within ten (10) days next following such a change. Acts 1968 (2nd Ex. Sess.), No. 8, § 2; A.S.A. 1947, § 84-2823.2.

Every holder of a franchise to conduct dog racing in this state shall report any and all changes in its board of directors, executive officers, and other management personnel, and all changes in the ownership of its stock, to the Arkansas Racing Commission within ten (10) days next following such a change.

Acts 1968 (2nd Ex. Sess.), No. 8, § 2; A.S.A. 1947, § 84-2823.2.
Ark. Code Ann. § 23-86-309 — AR Code / Title 23 / Chapter 86 / Subchapter 3 / Section 23-86-309
Special rules relating to group health plans
Status: in_force

(a) General Exception for Certain Small Group Health Plans. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan for any plan year if, on the first day of the group health plan year, the group health plan has less than two (2) participants who are current employees. (b) Exception for Certain Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage in relation to its provision of excepted benefits described in § 23-86-310(a) . (c) Exception for Certain Benefits if Certain Conditions Met. (1) Limited, Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan in relation to its provision of excepted benefits described in § 23-86-310(b) if the benefits: (A) Are provided under a separate policy, certificate, or contract of insurance; or (B) Are otherwise not an integral part of the group health plan. (2) Noncoordinated, Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan in relation to its provision of excepted benefits described in § 23-86-310(c) if all of the following conditions are met: (A) The benefits are provided under a separate policy, certificate, or contract of insurance; (B) There is no coordination between the provision of such benefits and any exclusion of benefits under any group health plan maintained by the same plan sponsor; and (C) Such benefits are paid with respect to an event without regard to whether benefits are provided with respect to such an event under any group health plan maintained by the same plan sponsor. (3) Supplemental Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage in relation to its provision of excepted benefits described in § 23-86-310(d) if the benefits are provided under a separate policy, certificate, or contract of insurance. (d) Treatment of Partnerships. (1) Treatment as a Group Health Plan. Any plan, fund, or program which would not be, but for this subsection, an employee welfare benefit plan and which is established or maintained by a partnership, to the extent that the plan, fund, or program provides medical care, including items and services paid for as medical care, to present or former partners in the partnership or to their dependents, as defined under the terms of the plan, fund, or program, directly or through insurance or reimbursement or otherwise, shall be treated, subject to subdivision (d)(2) of this section, as an employee welfare benefit plan which is a group health plan. (2) Employer. In the case of a group health plan, the term "employer" also includes the partnership in relation to any partner. (3) Participants of Group Health Plans. In the case of a group health plan, the term "participant" also includes: (A) In connection with a group health plan maintained by a partnership, an individual who is a partner in relation to the partnership; or (B) In connection with a group health plan maintained by a self-employed individual under which one (1) or more employees are participants, the self-employed individual, if the individual is, or may become, eligible to receive a benefit under the group health plan or the individual's beneficiaries may be eligible to receive any such benefit. Acts 1997, No. 997, § 1.

(a) General Exception for Certain Small Group Health Plans. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan for any plan year if, on the first day of the group health plan year, the group health plan has less than two (2) participants who are current employees.

(b) Exception for Certain Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage in relation to its provision of excepted benefits described in § 23-86-310(a) .

(c) Exception for Certain Benefits if Certain Conditions Met. (1) Limited, Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan in relation to its provision of excepted benefits described in § 23-86-310(b) if the benefits: (A) Are provided under a separate policy, certificate, or contract of insurance; or (B) Are otherwise not an integral part of the group health plan. (2) Noncoordinated, Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan in relation to its provision of excepted benefits described in § 23-86-310(c) if all of the following conditions are met: (A) The benefits are provided under a separate policy, certificate, or contract of insurance; (B) There is no coordination between the provision of such benefits and any exclusion of benefits under any group health plan maintained by the same plan sponsor; and (C) Such benefits are paid with respect to an event without regard to whether benefits are provided with respect to such an event under any group health plan maintained by the same plan sponsor. (3) Supplemental Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage in relation to its provision of excepted benefits described in § 23-86-310(d) if the benefits are provided under a separate policy, certificate, or contract of insurance.

(1) Limited, Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan in relation to its provision of excepted benefits described in § 23-86-310(b) if the benefits: (A) Are provided under a separate policy, certificate, or contract of insurance; or (B) Are otherwise not an integral part of the group health plan.

(A) Are provided under a separate policy, certificate, or contract of insurance; or

(B) Are otherwise not an integral part of the group health plan.

(2) Noncoordinated, Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage offered in connection with a group health plan in relation to its provision of excepted benefits described in § 23-86-310(c) if all of the following conditions are met: (A) The benefits are provided under a separate policy, certificate, or contract of insurance; (B) There is no coordination between the provision of such benefits and any exclusion of benefits under any group health plan maintained by the same plan sponsor; and (C) Such benefits are paid with respect to an event without regard to whether benefits are provided with respect to such an event under any group health plan maintained by the same plan sponsor.

(A) The benefits are provided under a separate policy, certificate, or contract of insurance;

(B) There is no coordination between the provision of such benefits and any exclusion of benefits under any group health plan maintained by the same plan sponsor; and

(C) Such benefits are paid with respect to an event without regard to whether benefits are provided with respect to such an event under any group health plan maintained by the same plan sponsor.

(3) Supplemental Excepted Benefits. The requirements of this subchapter shall not apply to any group health plan or group health insurance coverage in relation to its provision of excepted benefits described in § 23-86-310(d) if the benefits are provided under a separate policy, certificate, or contract of insurance.

(d) Treatment of Partnerships. (1) Treatment as a Group Health Plan. Any plan, fund, or program which would not be, but for this subsection, an employee welfare benefit plan and which is established or maintained by a partnership, to the extent that the plan, fund, or program provides medical care, including items and services paid for as medical care, to present or former partners in the partnership or to their dependents, as defined under the terms of the plan, fund, or program, directly or through insurance or reimbursement or otherwise, shall be treated, subject to subdivision (d)(2) of this section, as an employee welfare benefit plan which is a group health plan. (2) Employer. In the case of a group health plan, the term "employer" also includes the partnership in relation to any partner. (3) Participants of Group Health Plans. In the case of a group health plan, the term "participant" also includes: (A) In connection with a group health plan maintained by a partnership, an individual who is a partner in relation to the partnership; or (B) In connection with a group health plan maintained by a self-employed individual under which one (1) or more employees are participants, the self-employed individual, if the individual is, or may become, eligible to receive a benefit under the group health plan or the individual's beneficiaries may be eligible to receive any such benefit.

(1) Treatment as a Group Health Plan. Any plan, fund, or program which would not be, but for this subsection, an employee welfare benefit plan and which is established or maintained by a partnership, to the extent that the plan, fund, or program provides medical care, including items and services paid for as medical care, to present or former partners in the partnership or to their dependents, as defined under the terms of the plan, fund, or program, directly or through insurance or reimbursement or otherwise, shall be treated, subject to subdivision (d)(2) of this section, as an employee welfare benefit plan which is a group health plan.

(2) Employer. In the case of a group health plan, the term "employer" also includes the partnership in relation to any partner.

(3) Participants of Group Health Plans. In the case of a group health plan, the term "participant" also includes: (A) In connection with a group health plan maintained by a partnership, an individual who is a partner in relation to the partnership; or (B) In connection with a group health plan maintained by a self-employed individual under which one (1) or more employees are participants, the self-employed individual, if the individual is, or may become, eligible to receive a benefit under the group health plan or the individual's beneficiaries may be eligible to receive any such benefit.

(A) In connection with a group health plan maintained by a partnership, an individual who is a partner in relation to the partnership; or

(B) In connection with a group health plan maintained by a self-employed individual under which one (1) or more employees are participants, the self-employed individual, if the individual is, or may become, eligible to receive a benefit under the group health plan or the individual's beneficiaries may be eligible to receive any such benefit.

Acts 1997, No. 997, § 1.
Ark. Code Ann. § 23-66-214 — AR Code / Title 23 / Chapter 66 / Subchapter 2 / Section 23-66-214
[Repealed]
Status: repealed

Repealed by Act 2017, No. 283,§ 13, eff. 8/1/2017. Acts 1959, No. 148, § 221; A.S.A. 1947, § 66-3014.

Repealed by Act 2017, No. 283,§ 13, eff. 8/1/2017.

Acts 1959, No. 148, § 221; A.S.A. 1947, § 66-3014.
Ark. Code Ann. § 23-48-325 — AR Code / Title 23 / Chapter 48 / Subchapter 3 / Section 23-48-325
Banker's banks
Status: in_force

(a) Any state bank may purchase, for its own account, shares of a bank or bank holding company if: (1) The stock of the bank or bank holding company whose shares are being purchased is owned exclusively by financial institutions; and (2) The bank or bank holding company whose shares are being purchased and all subsidiaries thereof are engaged exclusively in providing services for financial institutions, their parent holding companies, subsidiaries thereof, and the officers, directors, and employees of each. (b) (1) In no event shall the total amount of stock held by a bank in any bank or bank holding company described in subsection (a) of this section exceed at any time ten percent (10%) of the holding bank's capital base. (2) In no event shall the purchase of that stock result in the purchasing bank's acquiring more than five percent (5%) of any class of voting securities of the bank or bank holding company whose shares are purchased. (c) The Bank Commissioner is authorized to receive applications, hold hearings on the applications, and, with the approval of the State Banking Board, issue charters for a banker's bank. (d) Any banker's bank chartered under this section must have its deposits insured by the Federal Deposit Insurance Corporation. Acts 1997, No. 89, § 1.

(a) Any state bank may purchase, for its own account, shares of a bank or bank holding company if: (1) The stock of the bank or bank holding company whose shares are being purchased is owned exclusively by financial institutions; and (2) The bank or bank holding company whose shares are being purchased and all subsidiaries thereof are engaged exclusively in providing services for financial institutions, their parent holding companies, subsidiaries thereof, and the officers, directors, and employees of each.

(1) The stock of the bank or bank holding company whose shares are being purchased is owned exclusively by financial institutions; and

(2) The bank or bank holding company whose shares are being purchased and all subsidiaries thereof are engaged exclusively in providing services for financial institutions, their parent holding companies, subsidiaries thereof, and the officers, directors, and employees of each.

(b) (1) In no event shall the total amount of stock held by a bank in any bank or bank holding company described in subsection (a) of this section exceed at any time ten percent (10%) of the holding bank's capital base. (2) In no event shall the purchase of that stock result in the purchasing bank's acquiring more than five percent (5%) of any class of voting securities of the bank or bank holding company whose shares are purchased.

(1) In no event shall the total amount of stock held by a bank in any bank or bank holding company described in subsection (a) of this section exceed at any time ten percent (10%) of the holding bank's capital base.

(2) In no event shall the purchase of that stock result in the purchasing bank's acquiring more than five percent (5%) of any class of voting securities of the bank or bank holding company whose shares are purchased.

(c) The Bank Commissioner is authorized to receive applications, hold hearings on the applications, and, with the approval of the State Banking Board, issue charters for a banker's bank.

(d) Any banker's bank chartered under this section must have its deposits insured by the Federal Deposit Insurance Corporation.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-81-118 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-118
Life insurance - Refund of certain premiums and payment of proceeds
Status: in_force

(a) Upon the death of an insured, the proceeds payable to the beneficiary under any policy of individual life insurance, delivered or issued for delivery in this state after July 20, 1979, that is in force on a premium-paying basis on the date of death shall include premiums paid for any period beyond the end of the policy month in which death occurred unless the refund of premiums is due some other person pursuant to contract provisions. (b) (1) When proceeds of any individual policy of life insurance, delivered or issued for delivery in this state, or refunds of premiums on any individual policy of life insurance delivered or issued for delivery in this state after July 20, 1979, are not paid within a reasonable period of time after proof of the death of the insured has been furnished to the insurer, the insurer shall pay interest upon the proceeds or refunds of premiums at the rate of eight percent (8%) per year. (2) For the purpose of this section, a reasonable period of time shall be that period of time sufficient to complete an investigation of the cause of death and to process the necessary claims. In no case shall this period exceed thirty (30) days from the date proof of death of the insured has been furnished to the insurer. (c) Unearned premiums shall be paid in a lump sum on a date no later than thirty (30) days after the proof of the insured's death has been furnished to the insurer. If not paid within thirty (30) days after proof of the insured's death has been furnished the insurer, interest upon any unpaid proceeds and any unearned premiums shall accrue interest from the date of the insured's death. (d) Nothing in this section shall be construed to require a refund of premiums on single premium policies. Acts 1979, No. 312, §§ 1-4; A.S.A. 1947, §§ 66-3312.1 -- 66-3312.4; Acts 2001, No. 1382, § 2.

(a) Upon the death of an insured, the proceeds payable to the beneficiary under any policy of individual life insurance, delivered or issued for delivery in this state after July 20, 1979, that is in force on a premium-paying basis on the date of death shall include premiums paid for any period beyond the end of the policy month in which death occurred unless the refund of premiums is due some other person pursuant to contract provisions.

(b) (1) When proceeds of any individual policy of life insurance, delivered or issued for delivery in this state, or refunds of premiums on any individual policy of life insurance delivered or issued for delivery in this state after July 20, 1979, are not paid within a reasonable period of time after proof of the death of the insured has been furnished to the insurer, the insurer shall pay interest upon the proceeds or refunds of premiums at the rate of eight percent (8%) per year. (2) For the purpose of this section, a reasonable period of time shall be that period of time sufficient to complete an investigation of the cause of death and to process the necessary claims. In no case shall this period exceed thirty (30) days from the date proof of death of the insured has been furnished to the insurer.

(1) When proceeds of any individual policy of life insurance, delivered or issued for delivery in this state, or refunds of premiums on any individual policy of life insurance delivered or issued for delivery in this state after July 20, 1979, are not paid within a reasonable period of time after proof of the death of the insured has been furnished to the insurer, the insurer shall pay interest upon the proceeds or refunds of premiums at the rate of eight percent (8%) per year.

(2) For the purpose of this section, a reasonable period of time shall be that period of time sufficient to complete an investigation of the cause of death and to process the necessary claims. In no case shall this period exceed thirty (30) days from the date proof of death of the insured has been furnished to the insurer.

(c) Unearned premiums shall be paid in a lump sum on a date no later than thirty (30) days after the proof of the insured's death has been furnished to the insurer. If not paid within thirty (30) days after proof of the insured's death has been furnished the insurer, interest upon any unpaid proceeds and any unearned premiums shall accrue interest from the date of the insured's death.

(d) Nothing in this section shall be construed to require a refund of premiums on single premium policies.

Acts 1979, No. 312, §§ 1-4; A.S.A. 1947, §§ 66-3312.1 -- 66-3312.4; Acts 2001, No. 1382, § 2.
Ark. Code Ann. § 23-72-116 — AR Code / Title 23 / Chapter 72 / Section 23-72-116
Pro rata plan insurer - Reclassification and rearrangement of members
Status: in_force

A pro rata assessment plan insurer has power at any time to reclassify, transfer, or rearrange its members, to merge or unite circles or groups; and to unite into one (1) group or circle two (2) or more groups or circles, the membership of which has decreased below the maximum. The insurer shall not start a new group or circle so long as any other group or circle is not up to maximum. All groups and circles shall be kept up to the maximum. Acts 1959, No. 148, § 571; A.S.A. 1947, § 66-4516.

A pro rata assessment plan insurer has power at any time to reclassify, transfer, or rearrange its members, to merge or unite circles or groups; and to unite into one (1) group or circle two (2) or more groups or circles, the membership of which has decreased below the maximum. The insurer shall not start a new group or circle so long as any other group or circle is not up to maximum. All groups and circles shall be kept up to the maximum.

Acts 1959, No. 148, § 571; A.S.A. 1947, § 66-4516.
Ark. Code Ann. § 23-71-113 — AR Code / Title 23 / Chapter 71 / Section 23-71-113
Insolvency
Status: in_force

(a) From and after January 1, 1968, the capital of a stipulated premium plan insurer shall be deemed to be impaired and the insurer shall be deemed to be insolvent when the insurer is not possessed of assets equal to all liabilities including the reserves set forth in § 23-71-105(a) together with its total issued and outstanding capital stock. (b) (1) If the Insurance Commissioner finds a stipulated premium plan insurer to be insolvent, the commissioner shall notify the insurer of the insolvency, stating the amount thereof and allowing the insurer a reasonable period of not less than sixty (60) days in which to cure the insolvency. (2) If the insurer fails to cure the insolvency within the period so allowed by the commissioner, then the commissioner shall immediately revoke its certificate of authority and institute proceedings for the liquidation of the insurer under §§ 23-68-101 - 23-68-113 and 23-68-115 - 23-68-132 . Acts 1959, No. 148, §§ 550, 551; 1967, No. 393, § 3; A.S.A. 1947, §§ 66-4411, 66-4412.

(a) From and after January 1, 1968, the capital of a stipulated premium plan insurer shall be deemed to be impaired and the insurer shall be deemed to be insolvent when the insurer is not possessed of assets equal to all liabilities including the reserves set forth in § 23-71-105(a) together with its total issued and outstanding capital stock.

(b) (1) If the Insurance Commissioner finds a stipulated premium plan insurer to be insolvent, the commissioner shall notify the insurer of the insolvency, stating the amount thereof and allowing the insurer a reasonable period of not less than sixty (60) days in which to cure the insolvency. (2) If the insurer fails to cure the insolvency within the period so allowed by the commissioner, then the commissioner shall immediately revoke its certificate of authority and institute proceedings for the liquidation of the insurer under §§ 23-68-101 - 23-68-113 and 23-68-115 - 23-68-132 .

(1) If the Insurance Commissioner finds a stipulated premium plan insurer to be insolvent, the commissioner shall notify the insurer of the insolvency, stating the amount thereof and allowing the insurer a reasonable period of not less than sixty (60) days in which to cure the insolvency.

(2) If the insurer fails to cure the insolvency within the period so allowed by the commissioner, then the commissioner shall immediately revoke its certificate of authority and institute proceedings for the liquidation of the insurer under §§ 23-68-101 - 23-68-113 and 23-68-115 - 23-68-132 .

Acts 1959, No. 148, §§ 550, 551; 1967, No. 393, § 3; A.S.A. 1947, §§ 66-4411, 66-4412.
Ark. Code Ann. § 23-79-1202 — AR Code / Title 23 / Chapter 79 / Subchapter 12 / Section 23-79-1202
Coverage - Applicability
Status: in_force

(a) A healthcare policy subject to this subchapter executed, delivered, issued for delivery, continued, or renewed in this state on or after August 1, 2005, shall include colorectal cancer examinations and laboratory tests within the healthcare policy's coverage. (b) The coverage shall include colorectal cancer examinations and laboratory tests for: (1) Covered persons who are forty-five (45) years of age or older; (2) Covered persons who are less than forty-five (45) years of age and at high risk for colorectal cancer according to colorectal cancer screening guidelines as they existed on January 1, 2021; and (3) Covered persons experiencing or meeting the following criteria or symptoms of colorectal cancer as determined by a physician licensed under the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq.: (A) Bleeding from the rectum or blood in the stool; (B) A change in bowel habits, such as diarrhea, constipation, or narrowing of the stool, that lasts more than five (5) days; or (C) The need for a follow-up colonoscopy. (c) After August 1, 2005, each employer that offers a healthcare policy to employees shall offer all eligible employees at the time of hiring or healthcare policy renewal a healthcare policy that includes colorectal cancer examinations and laboratory tests within the coverage of the employee's healthcare policy. (d) (1) The colorectal screening shall involve an examination of the entire colon, including: (A) All examinations, lab tests, or preventive screening tests assigned either a grade of "A" or a grade of "B" by the United States Preventive Services Task Force; and (B) Any additional medically recognized screening tests determined by the United States Preventive Services Task Force for colorectal cancer. (2) The covered person shall determine the choice of screening strategies in consultation with a healthcare provider. (3) Colorectal screening examinations shall be according to the choices and frequency provided by this subsection for all other covered persons. (e) (1) Screenings shall be limited to guidelines for the management or subsequent need for follow-up colonoscopy. (2) The guidelines described in subdivision (e)(1) of this section shall include a guideline stating that if a healthcare policy provides coverage to a resident of this state, then the healthcare policy shall not impose any cost-sharing requirements for: (A) A colonoscopy performed as a result of a positive result on a noncolonoscopy preventive screening test as described in subdivision (d)(1) of this section; or (B) Any additional noncolonoscopy preventive screening tests for colorectal cancer required by the Secretary of the Department of Health in consultation with the University of Arkansas for Medical Sciences and consistent with guidelines issued by the United States Preventive Services Task Force. Amended by Act 2021, No. 779,§ 3, eff. 1/1/2022. Amended by Act 2019, No. 910,§ 5108, eff. 7/1/2019. Acts 2005, No. 2236, § 2.

(a) A healthcare policy subject to this subchapter executed, delivered, issued for delivery, continued, or renewed in this state on or after August 1, 2005, shall include colorectal cancer examinations and laboratory tests within the healthcare policy's coverage.

(b) The coverage shall include colorectal cancer examinations and laboratory tests for: (1) Covered persons who are forty-five (45) years of age or older; (2) Covered persons who are less than forty-five (45) years of age and at high risk for colorectal cancer according to colorectal cancer screening guidelines as they existed on January 1, 2021; and (3) Covered persons experiencing or meeting the following criteria or symptoms of colorectal cancer as determined by a physician licensed under the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq.: (A) Bleeding from the rectum or blood in the stool; (B) A change in bowel habits, such as diarrhea, constipation, or narrowing of the stool, that lasts more than five (5) days; or (C) The need for a follow-up colonoscopy.

(1) Covered persons who are forty-five (45) years of age or older;

(2) Covered persons who are less than forty-five (45) years of age and at high risk for colorectal cancer according to colorectal cancer screening guidelines as they existed on January 1, 2021; and

(3) Covered persons experiencing or meeting the following criteria or symptoms of colorectal cancer as determined by a physician licensed under the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq.: (A) Bleeding from the rectum or blood in the stool; (B) A change in bowel habits, such as diarrhea, constipation, or narrowing of the stool, that lasts more than five (5) days; or (C) The need for a follow-up colonoscopy.

(A) Bleeding from the rectum or blood in the stool;

(B) A change in bowel habits, such as diarrhea, constipation, or narrowing of the stool, that lasts more than five (5) days; or

(C) The need for a follow-up colonoscopy.

(c) After August 1, 2005, each employer that offers a healthcare policy to employees shall offer all eligible employees at the time of hiring or healthcare policy renewal a healthcare policy that includes colorectal cancer examinations and laboratory tests within the coverage of the employee's healthcare policy.

(d) (1) The colorectal screening shall involve an examination of the entire colon, including: (A) All examinations, lab tests, or preventive screening tests assigned either a grade of "A" or a grade of "B" by the United States Preventive Services Task Force; and (B) Any additional medically recognized screening tests determined by the United States Preventive Services Task Force for colorectal cancer. (2) The covered person shall determine the choice of screening strategies in consultation with a healthcare provider. (3) Colorectal screening examinations shall be according to the choices and frequency provided by this subsection for all other covered persons.

(1) The colorectal screening shall involve an examination of the entire colon, including: (A) All examinations, lab tests, or preventive screening tests assigned either a grade of "A" or a grade of "B" by the United States Preventive Services Task Force; and (B) Any additional medically recognized screening tests determined by the United States Preventive Services Task Force for colorectal cancer.

(A) All examinations, lab tests, or preventive screening tests assigned either a grade of "A" or a grade of "B" by the United States Preventive Services Task Force; and

(B) Any additional medically recognized screening tests determined by the United States Preventive Services Task Force for colorectal cancer.

(2) The covered person shall determine the choice of screening strategies in consultation with a healthcare provider.

(3) Colorectal screening examinations shall be according to the choices and frequency provided by this subsection for all other covered persons.

(e) (1) Screenings shall be limited to guidelines for the management or subsequent need for follow-up colonoscopy. (2) The guidelines described in subdivision (e)(1) of this section shall include a guideline stating that if a healthcare policy provides coverage to a resident of this state, then the healthcare policy shall not impose any cost-sharing requirements for: (A) A colonoscopy performed as a result of a positive result on a noncolonoscopy preventive screening test as described in subdivision (d)(1) of this section; or (B) Any additional noncolonoscopy preventive screening tests for colorectal cancer required by the Secretary of the Department of Health in consultation with the University of Arkansas for Medical Sciences and consistent with guidelines issued by the United States Preventive Services Task Force.

(1) Screenings shall be limited to guidelines for the management or subsequent need for follow-up colonoscopy.

(2) The guidelines described in subdivision (e)(1) of this section shall include a guideline stating that if a healthcare policy provides coverage to a resident of this state, then the healthcare policy shall not impose any cost-sharing requirements for: (A) A colonoscopy performed as a result of a positive result on a noncolonoscopy preventive screening test as described in subdivision (d)(1) of this section; or (B) Any additional noncolonoscopy preventive screening tests for colorectal cancer required by the Secretary of the Department of Health in consultation with the University of Arkansas for Medical Sciences and consistent with guidelines issued by the United States Preventive Services Task Force.

(A) A colonoscopy performed as a result of a positive result on a noncolonoscopy preventive screening test as described in subdivision (d)(1) of this section; or

(B) Any additional noncolonoscopy preventive screening tests for colorectal cancer required by the Secretary of the Department of Health in consultation with the University of Arkansas for Medical Sciences and consistent with guidelines issued by the United States Preventive Services Task Force.

Amended by Act 2021, No. 779,§ 3, eff. 1/1/2022.

Amended by Act 2019, No. 910,§ 5108, eff. 7/1/2019.

Acts 2005, No. 2236, § 2.
Ark. Code Ann. § 23-74-704 — AR Code / Title 23 / Chapter 74 / Subchapter 7 / Section 23-74-704
Exemption of certain societies
Status: in_force

(a) Nothing contained in this chapter shall be so construed as to affect or apply to: (1) Grand or subordinate lodges of societies, orders, or associations now doing business in this state which provide benefits exclusively through local or subordinate lodges; (2) Orders, societies, or associations which admit to membership only persons engaged in one (1) or more crafts or hazardous occupations, in the same or similar lines of business, insuring only their own members and their families, and the ladies' societies or ladies' auxiliaries to such orders, societies, or associations; (3) Domestic societies which limit their memberships to employees of a particular city or town, designated firm, business house, or corporation which provide for a death benefit of not more than four hundred dollars ($400) or disability benefits of not more than three hundred fifty dollars ($350) to any person in any one (1) year, or both; or (4) Domestic societies or associations of a purely religious, charitable, or benevolent description, which provide for a death benefit of not more than four hundred dollars ($400) or for disability benefits of not more than three hundred fifty dollars ($350) to any person in any one (1) year, or both. (b) Any such society or association described in subdivision (a)(3) or subdivision (a)(4) of this section which provides for death or disability benefits for which benefit certificates are issued, and any such society or association included in subdivision (a)(4) of this section which has more than one thousand (1,000) members, shall not be exempted from the provisions of this chapter but shall comply with all requirements thereof. (c) No society which, by the provisions of this section, is exempt from the requirements of this chapter, except any society described in subdivision (a)(2) of this section, shall give or allow or promise to give or allow to any person any compensation for procuring new members. (d) Every society which provides for benefits in case of death or disability resulting solely from accident, and which does not obligate itself to pay natural death or sick benefits, shall have all of the privileges and be subject to all the applicable provisions and regulations of this chapter, except that the provisions thereof relating to medical examination, valuations of benefit certificates, and incontestability shall not apply to such a society. (e) The Insurance Commissioner may require from any society or association, by examination or otherwise, such information as will enable the commissioner to determine whether the society or association is exempt from the provisions of this chapter. (f) Societies exempted under the provisions of this section shall be exempt from all other provisions of the general insurance laws of this state. Acts 1989, No. 881, § 1.

(a) Nothing contained in this chapter shall be so construed as to affect or apply to: (1) Grand or subordinate lodges of societies, orders, or associations now doing business in this state which provide benefits exclusively through local or subordinate lodges; (2) Orders, societies, or associations which admit to membership only persons engaged in one (1) or more crafts or hazardous occupations, in the same or similar lines of business, insuring only their own members and their families, and the ladies' societies or ladies' auxiliaries to such orders, societies, or associations; (3) Domestic societies which limit their memberships to employees of a particular city or town, designated firm, business house, or corporation which provide for a death benefit of not more than four hundred dollars ($400) or disability benefits of not more than three hundred fifty dollars ($350) to any person in any one (1) year, or both; or (4) Domestic societies or associations of a purely religious, charitable, or benevolent description, which provide for a death benefit of not more than four hundred dollars ($400) or for disability benefits of not more than three hundred fifty dollars ($350) to any person in any one (1) year, or both.

(1) Grand or subordinate lodges of societies, orders, or associations now doing business in this state which provide benefits exclusively through local or subordinate lodges;

(2) Orders, societies, or associations which admit to membership only persons engaged in one (1) or more crafts or hazardous occupations, in the same or similar lines of business, insuring only their own members and their families, and the ladies' societies or ladies' auxiliaries to such orders, societies, or associations;

(3) Domestic societies which limit their memberships to employees of a particular city or town, designated firm, business house, or corporation which provide for a death benefit of not more than four hundred dollars ($400) or disability benefits of not more than three hundred fifty dollars ($350) to any person in any one (1) year, or both; or

(4) Domestic societies or associations of a purely religious, charitable, or benevolent description, which provide for a death benefit of not more than four hundred dollars ($400) or for disability benefits of not more than three hundred fifty dollars ($350) to any person in any one (1) year, or both.

(b) Any such society or association described in subdivision (a)(3) or subdivision (a)(4) of this section which provides for death or disability benefits for which benefit certificates are issued, and any such society or association included in subdivision (a)(4) of this section which has more than one thousand (1,000) members, shall not be exempted from the provisions of this chapter but shall comply with all requirements thereof.

(c) No society which, by the provisions of this section, is exempt from the requirements of this chapter, except any society described in subdivision (a)(2) of this section, shall give or allow or promise to give or allow to any person any compensation for procuring new members.

(d) Every society which provides for benefits in case of death or disability resulting solely from accident, and which does not obligate itself to pay natural death or sick benefits, shall have all of the privileges and be subject to all the applicable provisions and regulations of this chapter, except that the provisions thereof relating to medical examination, valuations of benefit certificates, and incontestability shall not apply to such a society.

(e) The Insurance Commissioner may require from any society or association, by examination or otherwise, such information as will enable the commissioner to determine whether the society or association is exempt from the provisions of this chapter.

(f) Societies exempted under the provisions of this section shall be exempt from all other provisions of the general insurance laws of this state.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-114-201 — AR Code / Title 23 / Chapter 114 / Subchapter 2 / Section 23-114-201
Control and supervision of games of bingo and raffles
Status: in_force

(a) The Secretary of the Department of Finance and Administration shall administer this chapter under the Arkansas Tax Procedure Act, § 26-18-101 et seq. (b) The secretary has authority over all games of bingo and raffles conducted in this state so that games of bingo and raffles are fairly conducted and the proceeds derived from games of bingo and raffles are used only for an authorized purpose. Amended by Act 2019, No. 910,§ 3521, eff. 7/1/2019. Acts 2007, No. 388, § 1; 2009, No. 499, § 2.

(a) The Secretary of the Department of Finance and Administration shall administer this chapter under the Arkansas Tax Procedure Act, § 26-18-101 et seq.

(b) The secretary has authority over all games of bingo and raffles conducted in this state so that games of bingo and raffles are fairly conducted and the proceeds derived from games of bingo and raffles are used only for an authorized purpose.

Amended by Act 2019, No. 910,§ 3521, eff. 7/1/2019.

Acts 2007, No. 388, § 1; 2009, No. 499, § 2.
Ark. Code Ann. § 23-101-104 — AR Code / Title 23 / Chapter 101 / Section 23-101-104
Prohibited coverages
Status: in_force

(a) Creditor-placed insurance coverage shall not include: (1) Coverage for the cost of repossession; (2) Skip, confiscation, and conversion coverage; (3) Coverage for payment of mechanics' or other liens that do not arise from a covered loss occurrence; (4) Coverage that requires a debtor's insurance deductible to be less than two hundred fifty dollars ($250); or (5) Coverage that is broader than the insurance coverages that meet the minimum insurance requirements of the credit agreement. (b) Nothing in this section shall be deemed to prohibit the issuance of a separate policy or endorsement providing the coverages listed in subsection (a) of this section. However, no charge shall be passed along to the debtor for the coverages. Acts 1997, No. 930, § 6.

(a) Creditor-placed insurance coverage shall not include: (1) Coverage for the cost of repossession; (2) Skip, confiscation, and conversion coverage; (3) Coverage for payment of mechanics' or other liens that do not arise from a covered loss occurrence; (4) Coverage that requires a debtor's insurance deductible to be less than two hundred fifty dollars ($250); or (5) Coverage that is broader than the insurance coverages that meet the minimum insurance requirements of the credit agreement.

(1) Coverage for the cost of repossession;

(2) Skip, confiscation, and conversion coverage;

(3) Coverage for payment of mechanics' or other liens that do not arise from a covered loss occurrence;

(4) Coverage that requires a debtor's insurance deductible to be less than two hundred fifty dollars ($250); or

(5) Coverage that is broader than the insurance coverages that meet the minimum insurance requirements of the credit agreement.

(b) Nothing in this section shall be deemed to prohibit the issuance of a separate policy or endorsement providing the coverages listed in subsection (a) of this section. However, no charge shall be passed along to the debtor for the coverages.

Acts 1997, No. 930, § 6.
Ark. Code Ann. § 23-13-602 — AR Code / Title 23 / Chapter 13 / Subchapter 6 / Section 23-13-602
Registration with a base state required
Status: in_force

Foreign and domestic motor carriers, motor private carriers, leasing companies, brokers, and freight forwarders shall not operate in interstate commerce in this state without: (1) Being registered with a base state; and (2) Paying all fees as required under the Unified Carrier Registration Act of 2005, Pub. L. No. 109-59, § 4301 et seq. Acts 2007, No. 232, § 2; 2009, No. 164, § 3.

Foreign and domestic motor carriers, motor private carriers, leasing companies, brokers, and freight forwarders shall not operate in interstate commerce in this state without:

(1) Being registered with a base state; and

(2) Paying all fees as required under the Unified Carrier Registration Act of 2005, Pub. L. No. 109-59, § 4301 et seq.

Acts 2007, No. 232, § 2; 2009, No. 164, § 3.
Ark. Code Ann. § 23-10-425 — AR Code / Title 23 / Chapter 10 / Subchapter 4 / Section 23-10-425
Loading or unloading - Additional free time when weather inclement
Status: in_force

Whenever the weather, during the period of free time, is so severe, inclement, or rainy that it is impossible or impracticable to secure means of loading or unloading freight, or when, from the nature of the goods, loading or unloading would cause injury or damage, then additional time shall be added to the free period, and no demurrage charges shall be allowed for the additional free time. This applies to the state of the weather during business hours. Acts 1907, No. 193, § 11, p. 453; C. & M. Dig., § 906; Pope's Dig., § 1110; A.S.A. 1947, § 73-1320.

Whenever the weather, during the period of free time, is so severe, inclement, or rainy that it is impossible or impracticable to secure means of loading or unloading freight, or when, from the nature of the goods, loading or unloading would cause injury or damage, then additional time shall be added to the free period, and no demurrage charges shall be allowed for the additional free time. This applies to the state of the weather during business hours.

Acts 1907, No. 193, § 11, p. 453; C. & M. Dig., § 906; Pope's Dig., § 1110; A.S.A. 1947, § 73-1320.
Ark. Code Ann. § 23-12-302 — AR Code / Title 23 / Chapter 12 / Subchapter 3 / Section 23-12-302
Railroad switch connections to be permitted
Status: in_force

Every railroad company shall permit switch connections for intrastate business to be made with its tracks at suitable and safe points by other carriers or shippers upon such terms and conditions as the Arkansas Department of Transportation may prescribe whenever, in the judgment of the department, it can be done with reasonable safety and whenever the business to be offered by the connecting company or shipper justifies it. Amended by Act 2017, No. 707,§ 174, eff. 8/1/2017. Acts 1919, No. 571, § 9; C. & M. Dig., § 1642; Pope's Dig., § 1963; A.S.A. 1947, § 73-120.

Every railroad company shall permit switch connections for intrastate business to be made with its tracks at suitable and safe points by other carriers or shippers upon such terms and conditions as the Arkansas Department of Transportation may prescribe whenever, in the judgment of the department, it can be done with reasonable safety and whenever the business to be offered by the connecting company or shipper justifies it.

Amended by Act 2017, No. 707,§ 174, eff. 8/1/2017.

Acts 1919, No. 571, § 9; C. & M. Dig., § 1642; Pope's Dig., § 1963; A.S.A. 1947, § 73-120.
Ark. Code Ann. § 23-16-410 — AR Code / Title 23 / Chapter 16 / Subchapter 4 / Section 23-16-410
[Repealed]
Status: repealed

Repealed by Act 2021, No. 805,§ 1, eff. 7/28/2021. Acts 2005, No. 2289, § 1.

Repealed by Act 2021, No. 805,§ 1, eff. 7/28/2021.

Acts 2005, No. 2289, § 1.
Ark. Code Ann. § 23-84-102 — AR Code / Title 23 / Chapter 84 / Section 23-84-102
Valuation of reserves by Insurance Commissioner
Status: in_force

(a) Except as provided in subdivision (a)(4) of this section, for a policy or contract issued before the operative date of the valuation manual: (1) (A) The Insurance Commissioner shall annually value, or cause to be valued, the reserves for all outstanding life insurance issued by a company on or after January 1, 1960, and before the operative date of the valuation manual. (B) In calculating the reserves, the commissioner may use group methods and approximate averages for fractions of a year or otherwise; (2) In lieu of the valuation of the reserves required by this section of any foreign or alien insurer, the commissioner may accept any valuation made, or caused to be made, by the insurance supervisory official of any state or other jurisdiction when that valuation complies with the minimum standard provided in this section; (3) (A) Sections 23-84-103 - 23-84-111 , 23-84-113 , and 23-84-114 apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual. (B) Sections 23-84-115 and 23-84-116 do not apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual; and (4) The minimum standard for the valuation of a policy or contract issued before January 1, 1960, is the minimum standard in effect immediately before January 1, 1960. (b) With regard to a policy or contract issued on or after the operative date of the valuation manual: (1) (A) The commissioner shall annually value or cause to be valued the reserves for all outstanding policies or contracts of a company issued on or after the operative date of the valuation manual. (B) In lieu of the valuation of the reserves required of a foreign or alien company, the commissioner may accept a valuation made or caused to be made by the public official or regulatory authority responsible for regulating insurance companies of another state or jurisdiction if the valuation complies with the minimum standard provided by this chapter; and (2) Sections 23-84-114 - 23-84-116 shall apply. Amended by Act 2015, No. 1223,§ 36, eff. 7/22/2015. Acts 1959, No. 148, § 92; 1977, No. 551, § 1; 1981, No. 535, § 1; A.S.A. 1947, § 66-2511. See Act 2015, No. 1223, § 26.

(a) Except as provided in subdivision (a)(4) of this section, for a policy or contract issued before the operative date of the valuation manual: (1) (A) The Insurance Commissioner shall annually value, or cause to be valued, the reserves for all outstanding life insurance issued by a company on or after January 1, 1960, and before the operative date of the valuation manual. (B) In calculating the reserves, the commissioner may use group methods and approximate averages for fractions of a year or otherwise; (2) In lieu of the valuation of the reserves required by this section of any foreign or alien insurer, the commissioner may accept any valuation made, or caused to be made, by the insurance supervisory official of any state or other jurisdiction when that valuation complies with the minimum standard provided in this section; (3) (A) Sections 23-84-103 - 23-84-111 , 23-84-113 , and 23-84-114 apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual. (B) Sections 23-84-115 and 23-84-116 do not apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual; and (4) The minimum standard for the valuation of a policy or contract issued before January 1, 1960, is the minimum standard in effect immediately before January 1, 1960.

(1) (A) The Insurance Commissioner shall annually value, or cause to be valued, the reserves for all outstanding life insurance issued by a company on or after January 1, 1960, and before the operative date of the valuation manual. (B) In calculating the reserves, the commissioner may use group methods and approximate averages for fractions of a year or otherwise;

(A) The Insurance Commissioner shall annually value, or cause to be valued, the reserves for all outstanding life insurance issued by a company on or after January 1, 1960, and before the operative date of the valuation manual.

(B) In calculating the reserves, the commissioner may use group methods and approximate averages for fractions of a year or otherwise;

(2) In lieu of the valuation of the reserves required by this section of any foreign or alien insurer, the commissioner may accept any valuation made, or caused to be made, by the insurance supervisory official of any state or other jurisdiction when that valuation complies with the minimum standard provided in this section;

(3) (A) Sections 23-84-103 - 23-84-111 , 23-84-113 , and 23-84-114 apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual. (B) Sections 23-84-115 and 23-84-116 do not apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual; and

(A) Sections 23-84-103 - 23-84-111 , 23-84-113 , and 23-84-114 apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual.

(B) Sections 23-84-115 and 23-84-116 do not apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual; and

(4) The minimum standard for the valuation of a policy or contract issued before January 1, 1960, is the minimum standard in effect immediately before January 1, 1960.

(b) With regard to a policy or contract issued on or after the operative date of the valuation manual: (1) (A) The commissioner shall annually value or cause to be valued the reserves for all outstanding policies or contracts of a company issued on or after the operative date of the valuation manual. (B) In lieu of the valuation of the reserves required of a foreign or alien company, the commissioner may accept a valuation made or caused to be made by the public official or regulatory authority responsible for regulating insurance companies of another state or jurisdiction if the valuation complies with the minimum standard provided by this chapter; and (2) Sections 23-84-114 - 23-84-116 shall apply.

(1) (A) The commissioner shall annually value or cause to be valued the reserves for all outstanding policies or contracts of a company issued on or after the operative date of the valuation manual. (B) In lieu of the valuation of the reserves required of a foreign or alien company, the commissioner may accept a valuation made or caused to be made by the public official or regulatory authority responsible for regulating insurance companies of another state or jurisdiction if the valuation complies with the minimum standard provided by this chapter; and

(A) The commissioner shall annually value or cause to be valued the reserves for all outstanding policies or contracts of a company issued on or after the operative date of the valuation manual.

(B) In lieu of the valuation of the reserves required of a foreign or alien company, the commissioner may accept a valuation made or caused to be made by the public official or regulatory authority responsible for regulating insurance companies of another state or jurisdiction if the valuation complies with the minimum standard provided by this chapter; and

(2) Sections 23-84-114 - 23-84-116 shall apply.

Amended by Act 2015, No. 1223,§ 36, eff. 7/22/2015.

Acts 1959, No. 148, § 92; 1977, No. 551, § 1; 1981, No. 535, § 1; A.S.A. 1947, § 66-2511.

See Act 2015, No. 1223, § 26.
Ark. Code Ann. § 23-64-101 — AR Code / Title 23 / Chapter 64 / Subchapter 1 / Section 23-64-101
Scope of provisions
Status: in_force

This chapter shall apply with respect to any insurer, as to all insurances other than wet marine and foreign trade insurance. Acts 1959, No. 148, § 144; A.S.A. 1947, § 66-2801; Acts 1997, No. 1004, § 1; 2007, No. 684, § 3.

This chapter shall apply with respect to any insurer, as to all insurances other than wet marine and foreign trade insurance.

Acts 1959, No. 148, § 144; A.S.A. 1947, § 66-2801; Acts 1997, No. 1004, § 1; 2007, No. 684, § 3.
Ark. Code Ann. § 23-11-220 — AR Code / Title 23 / Chapter 11 / Subchapter 2 / Section 23-11-220
Amendment of articles of incorporation
Status: in_force

(a) Amendments to the articles of incorporation of any railroad corporation incorporated under the law of this state shall be made only by the vote of a majority of the stockholders of the corporation. (b) (1) No amendment shall be voted upon unless and until notice of an intention to present the amendment to a meeting of the stockholders shall have first been served upon all stockholders of the corporation by mailing the notice through the United States mail directed to the stockholders at the address of record on the stock records of the corporation at least thirty (30) days prior to the date set for the meeting. (2) The notice shall contain full information as to the proposed amendment. (3) Waiver of notice of the meeting by all of the stockholders of the corporation and filed with the secretary of the corporation shall be deemed to be compliance with the requirements of this section for notice of the proposed amendment to the stockholders. (c) (1) No amendment of the articles of incorporation of a railroad corporation shall become effective unless and until the amendment has been first approved by the Arkansas Department of Transportation. (2) The department shall establish rules governing the procedure for conducting hearings and making such determinations as it shall deem advisable for the purpose of approving amendments to the articles of incorporation and charter of railroad corporations incorporated in this state. (d) A fee of five dollars ($5.00) shall be paid to the Secretary of State for filing each amendment. (e) After the adoption of the amendment and the approval of the amendment by the department as provided by subsection (c) of this section, copies of the amendment, together with a certified copy of the order of the department approving the amendment, shall be filed in the office of the Secretary of State and in the office of the county clerk in each county in which the original articles are required to be filed by other provisions of this subchapter. (f) It shall not be necessary to secure the approval of the department for a change of designation of resident agent of the corporation. Such a change may be made at any time by the board of directors by duly adopted resolution and the filing of copies of the change with the department, the Secretary of State, and the county clerk in each county in which the articles of incorporation are required to be filed by the provisions of this subchapter. Amended by Act 2019, No. 315,§ 2408, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 163, eff. 8/1/2017. Acts 1959, No. 30, §§ 7, 8; A.S.A. 1947, §§ 73-314.1, 73-314.2.

(a) Amendments to the articles of incorporation of any railroad corporation incorporated under the law of this state shall be made only by the vote of a majority of the stockholders of the corporation.

(b) (1) No amendment shall be voted upon unless and until notice of an intention to present the amendment to a meeting of the stockholders shall have first been served upon all stockholders of the corporation by mailing the notice through the United States mail directed to the stockholders at the address of record on the stock records of the corporation at least thirty (30) days prior to the date set for the meeting. (2) The notice shall contain full information as to the proposed amendment. (3) Waiver of notice of the meeting by all of the stockholders of the corporation and filed with the secretary of the corporation shall be deemed to be compliance with the requirements of this section for notice of the proposed amendment to the stockholders.

(1) No amendment shall be voted upon unless and until notice of an intention to present the amendment to a meeting of the stockholders shall have first been served upon all stockholders of the corporation by mailing the notice through the United States mail directed to the stockholders at the address of record on the stock records of the corporation at least thirty (30) days prior to the date set for the meeting.

(2) The notice shall contain full information as to the proposed amendment.

(3) Waiver of notice of the meeting by all of the stockholders of the corporation and filed with the secretary of the corporation shall be deemed to be compliance with the requirements of this section for notice of the proposed amendment to the stockholders.

(c) (1) No amendment of the articles of incorporation of a railroad corporation shall become effective unless and until the amendment has been first approved by the Arkansas Department of Transportation. (2) The department shall establish rules governing the procedure for conducting hearings and making such determinations as it shall deem advisable for the purpose of approving amendments to the articles of incorporation and charter of railroad corporations incorporated in this state.

(1) No amendment of the articles of incorporation of a railroad corporation shall become effective unless and until the amendment has been first approved by the Arkansas Department of Transportation.

(2) The department shall establish rules governing the procedure for conducting hearings and making such determinations as it shall deem advisable for the purpose of approving amendments to the articles of incorporation and charter of railroad corporations incorporated in this state.

(d) A fee of five dollars ($5.00) shall be paid to the Secretary of State for filing each amendment.

(e) After the adoption of the amendment and the approval of the amendment by the department as provided by subsection (c) of this section, copies of the amendment, together with a certified copy of the order of the department approving the amendment, shall be filed in the office of the Secretary of State and in the office of the county clerk in each county in which the original articles are required to be filed by other provisions of this subchapter.

(f) It shall not be necessary to secure the approval of the department for a change of designation of resident agent of the corporation. Such a change may be made at any time by the board of directors by duly adopted resolution and the filing of copies of the change with the department, the Secretary of State, and the county clerk in each county in which the articles of incorporation are required to be filed by the provisions of this subchapter.

Amended by Act 2019, No. 315,§ 2408, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 163, eff. 8/1/2017.

Acts 1959, No. 30, §§ 7, 8; A.S.A. 1947, §§ 73-314.1, 73-314.2.
Ark. Code Ann. § 23-92-602 — AR Code / Title 23 / Chapter 92 / Subchapter 6 / Section 23-92-602
Definitions
Status: in_force

As used in this subchapter: (1) "Patient" means an individual seeking medical diagnosis and treatment; (2) "Pharmacy" means the same as defined in § 17-92-101 ; (3) "Provider" means a licensed pharmacist as defined in § 17-92-101 ; (4) (A) "Third party" means: (i) A payor or the payor's intermediary; or (ii) A pharmacy benefits manager. (B) "Third party" does not include: (i) The Arkansas Medicaid Program; (ii) A risk-based provider organization as established under the Medicaid Provider-Led Organized Care Act, § 20-77-2701 et seq.; or (iii) A self-insured governmental plan or a pharmacy benefits manager for a self-insured governmental plan; and (5) "340B drug pricing" means the program established under section 602 of the Veterans Health Care Act of 1992, Pub. L. No. 102-585. Added by Act 2021, No. 1103,§ 1, eff. 7/28/2021.

As used in this subchapter:

(1) "Patient" means an individual seeking medical diagnosis and treatment;

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

(3) "Provider" means a licensed pharmacist as defined in § 17-92-101 ;

(4) (A) "Third party" means: (i) A payor or the payor's intermediary; or (ii) A pharmacy benefits manager. (B) "Third party" does not include: (i) The Arkansas Medicaid Program; (ii) A risk-based provider organization as established under the Medicaid Provider-Led Organized Care Act, § 20-77-2701 et seq.; or (iii) A self-insured governmental plan or a pharmacy benefits manager for a self-insured governmental plan; and

(A) "Third party" means: (i) A payor or the payor's intermediary; or (ii) A pharmacy benefits manager.

(i) A payor or the payor's intermediary; or

(ii) A pharmacy benefits manager.

(B) "Third party" does not include: (i) The Arkansas Medicaid Program; (ii) A risk-based provider organization as established under the Medicaid Provider-Led Organized Care Act, § 20-77-2701 et seq.; or (iii) A self-insured governmental plan or a pharmacy benefits manager for a self-insured governmental plan; and

(i) The Arkansas Medicaid Program;

(ii) A risk-based provider organization as established under the Medicaid Provider-Led Organized Care Act, § 20-77-2701 et seq.; or

(iii) A self-insured governmental plan or a pharmacy benefits manager for a self-insured governmental plan; and

(5) "340B drug pricing" means the program established under section 602 of the Veterans Health Care Act of 1992, Pub. L. No. 102-585.

Added by Act 2021, No. 1103,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 23-63-111 — AR Code / Title 23 / Chapter 63 / Subchapter 1 / Section 23-63-111
Policyholder's right to loss information - Definition
Status: in_force

(a) (1) (A) Upon written request, each licensed property and casualty insurer shall mail or deliver the policyholder's claim loss information to the policyholder or his or her authorized producer within thirty (30) days from the date of receipt of the request from the policyholder. (B) If the requested claim loss information is not provided directly to the policyholder, the authorized producer shall mail or deliver the requested claim loss information to the policyholder within seven (7) days from the date of receipt of the claim loss information from the licensed property and casualty insurer. (2) (A) "Claim loss information" as used in this section means the: (i) Date of loss; (ii) Property insured; and (iii) Amount paid. (B) "Claim loss information" does not include supporting claim file documentation, including, but not limited to, copies of claim files, investigation reports, evaluation statements, insured's statements, and documents protected by a common law or statutory privilege. (b) The insurer may charge a reasonable fee for providing the information. (c) The insurer shall not be required to maintain claim loss information for more than five (5) years following the termination of coverage. Acts 2005, No. 1697, § 33; 2009, No. 726, § 11.

(a) (1) (A) Upon written request, each licensed property and casualty insurer shall mail or deliver the policyholder's claim loss information to the policyholder or his or her authorized producer within thirty (30) days from the date of receipt of the request from the policyholder. (B) If the requested claim loss information is not provided directly to the policyholder, the authorized producer shall mail or deliver the requested claim loss information to the policyholder within seven (7) days from the date of receipt of the claim loss information from the licensed property and casualty insurer. (2) (A) "Claim loss information" as used in this section means the: (i) Date of loss; (ii) Property insured; and (iii) Amount paid. (B) "Claim loss information" does not include supporting claim file documentation, including, but not limited to, copies of claim files, investigation reports, evaluation statements, insured's statements, and documents protected by a common law or statutory privilege.

(1) (A) Upon written request, each licensed property and casualty insurer shall mail or deliver the policyholder's claim loss information to the policyholder or his or her authorized producer within thirty (30) days from the date of receipt of the request from the policyholder. (B) If the requested claim loss information is not provided directly to the policyholder, the authorized producer shall mail or deliver the requested claim loss information to the policyholder within seven (7) days from the date of receipt of the claim loss information from the licensed property and casualty insurer.

(A) Upon written request, each licensed property and casualty insurer shall mail or deliver the policyholder's claim loss information to the policyholder or his or her authorized producer within thirty (30) days from the date of receipt of the request from the policyholder.

(B) If the requested claim loss information is not provided directly to the policyholder, the authorized producer shall mail or deliver the requested claim loss information to the policyholder within seven (7) days from the date of receipt of the claim loss information from the licensed property and casualty insurer.

(2) (A) "Claim loss information" as used in this section means the: (i) Date of loss; (ii) Property insured; and (iii) Amount paid. (B) "Claim loss information" does not include supporting claim file documentation, including, but not limited to, copies of claim files, investigation reports, evaluation statements, insured's statements, and documents protected by a common law or statutory privilege.

(A) "Claim loss information" as used in this section means the: (i) Date of loss; (ii) Property insured; and (iii) Amount paid.

(i) Date of loss;

(ii) Property insured; and

(iii) Amount paid.

(B) "Claim loss information" does not include supporting claim file documentation, including, but not limited to, copies of claim files, investigation reports, evaluation statements, insured's statements, and documents protected by a common law or statutory privilege.

(b) The insurer may charge a reasonable fee for providing the information.

(c) The insurer shall not be required to maintain claim loss information for more than five (5) years following the termination of coverage.

Acts 2005, No. 1697, § 33; 2009, No. 726, § 11.
Ark. Code Ann. § 23-62-304 — AR Code / Title 23 / Chapter 62 / Subchapter 3 / Section 23-62-304
Agreement examination
Status: in_force

The Insurance Commissioner shall have the right to examine any of the reinsurance agreements or deposit arrangements of the ceding insurer at any time. Acts 1977, No. 790, § 4; A.S.A. 1947, § 66-2414; Acts 1991, No. 723, § 11.

The Insurance Commissioner shall have the right to examine any of the reinsurance agreements or deposit arrangements of the ceding insurer at any time.

Acts 1977, No. 790, § 4; A.S.A. 1947, § 66-2414; Acts 1991, No. 723, § 11.
Ark. Code Ann. § 23-69-307 — AR Code / Title 23 / Chapter 69 / Subchapter 3 / Section 23-69-307
Approval of proposed reorganization plan
Status: in_force

(a) The Insurance Commissioner shall issue an order approving or disapproving a proposed plan of reorganization within thirty (30) days after the close of the public hearing as required by § 23-69-306 . (b) The commissioner shall not approve a proposed plan of reorganization unless he or she finds that: (1) The plan of reorganization is fair and equitable to the policyholders; (2) The plan of reorganization does not deprive the policyholders of their property rights or due process of law; and (3) The reorganized stock insurer would meet the minimum requirements to be issued a certificate of authority by the commissioner to transact the business of insurance in this state, and the continued operations of the reorganized stock insurer would not be hazardous to future policyholders and the public. (c) If the commissioner approves a plan of reorganization, the commissioner shall also publish notification of the issuance of the order in a legal newspaper in Pulaski County and in the county of domicile of the mutual insurer if different from Pulaski County. (d) If the commissioner approves a plan of reorganization, the approval shall expire if the reorganization is not completed within one hundred eighty (180) days after the date of approval, unless extended by the commissioner for good cause, or within sixty (60) days if required by the Gramm-Leach-Bliley Act for depository corporation transactions. (e) If the commissioner disapproves a plan of reorganization, the commissioner shall issue an order setting forth specific findings for the disapproval. Acts 2001, No. 1726, § 1.

(a) The Insurance Commissioner shall issue an order approving or disapproving a proposed plan of reorganization within thirty (30) days after the close of the public hearing as required by § 23-69-306 .

(b) The commissioner shall not approve a proposed plan of reorganization unless he or she finds that: (1) The plan of reorganization is fair and equitable to the policyholders; (2) The plan of reorganization does not deprive the policyholders of their property rights or due process of law; and (3) The reorganized stock insurer would meet the minimum requirements to be issued a certificate of authority by the commissioner to transact the business of insurance in this state, and the continued operations of the reorganized stock insurer would not be hazardous to future policyholders and the public.

(1) The plan of reorganization is fair and equitable to the policyholders;

(2) The plan of reorganization does not deprive the policyholders of their property rights or due process of law; and

(3) The reorganized stock insurer would meet the minimum requirements to be issued a certificate of authority by the commissioner to transact the business of insurance in this state, and the continued operations of the reorganized stock insurer would not be hazardous to future policyholders and the public.

(c) If the commissioner approves a plan of reorganization, the commissioner shall also publish notification of the issuance of the order in a legal newspaper in Pulaski County and in the county of domicile of the mutual insurer if different from Pulaski County.

(d) If the commissioner approves a plan of reorganization, the approval shall expire if the reorganization is not completed within one hundred eighty (180) days after the date of approval, unless extended by the commissioner for good cause, or within sixty (60) days if required by the Gramm-Leach-Bliley Act for depository corporation transactions.

(e) If the commissioner disapproves a plan of reorganization, the commissioner shall issue an order setting forth specific findings for the disapproval.

Acts 2001, No. 1726, § 1.
Ark. Code Ann. § 23-79-505 — AR Code / Title 23 / Chapter 79 / Subchapter 5 / Section 23-79-505
Plan of operation
Status: in_force

(a) (1) The Board of Directors of the Arkansas Comprehensive Health Insurance Pool shall adopt a plan of operation pursuant to this subchapter and shall submit to the Insurance Commissioner for approval the plan of operation including the Arkansas Comprehensive Health Insurance Pool's articles, bylaws and operating rules, and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the pool. The plan of operation shall become effective upon approval in writing by the commissioner. (2) If the board fails to submit a suitable plan of operation within one hundred eighty (180) days after the appointment of the board of directors, or at any time thereafter fails to submit suitable amendments to the plan of operation, the commissioner shall adopt and promulgate such rules as are necessary or advisable to effectuate the provisions of this section. The rules shall continue in force until modified by the commissioner or superseded by a plan of operation submitted by the board and approved by the commissioner. (b) The plan of operation shall: (1) Establish procedures for operation of the pool; (2) Establish procedures for selecting a plan administrator in accordance with § 23-79-508 ; (3) Create a fund, under management of the board, to pay administrative claims and other expenses of the pool; (4) Establish procedures for the handling, accounting, and auditing of assets, moneys, and claims of the pool and the plan administrator; (5) Develop and implement a program to publicize the existence of the plan, the eligibility requirements, and the procedures for enrollment and to maintain public awareness of the plan; (6) (A) Establish procedures under which applicants and participants may have grievances reviewed by a grievance committee appointed by the board. The grievances shall be reported to the board after completion of the review. (B) The board shall retain all written complaints regarding the plan for at least three (3) years; and (7) Provide for other matters as may be necessary and proper for the execution of the board's powers, duties, and obligations under this subchapter. Acts 1997, No. 292, § 5.

(a) (1) The Board of Directors of the Arkansas Comprehensive Health Insurance Pool shall adopt a plan of operation pursuant to this subchapter and shall submit to the Insurance Commissioner for approval the plan of operation including the Arkansas Comprehensive Health Insurance Pool's articles, bylaws and operating rules, and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the pool. The plan of operation shall become effective upon approval in writing by the commissioner. (2) If the board fails to submit a suitable plan of operation within one hundred eighty (180) days after the appointment of the board of directors, or at any time thereafter fails to submit suitable amendments to the plan of operation, the commissioner shall adopt and promulgate such rules as are necessary or advisable to effectuate the provisions of this section. The rules shall continue in force until modified by the commissioner or superseded by a plan of operation submitted by the board and approved by the commissioner.

(1) The Board of Directors of the Arkansas Comprehensive Health Insurance Pool shall adopt a plan of operation pursuant to this subchapter and shall submit to the Insurance Commissioner for approval the plan of operation including the Arkansas Comprehensive Health Insurance Pool's articles, bylaws and operating rules, and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the pool. The plan of operation shall become effective upon approval in writing by the commissioner.

(2) If the board fails to submit a suitable plan of operation within one hundred eighty (180) days after the appointment of the board of directors, or at any time thereafter fails to submit suitable amendments to the plan of operation, the commissioner shall adopt and promulgate such rules as are necessary or advisable to effectuate the provisions of this section. The rules shall continue in force until modified by the commissioner or superseded by a plan of operation submitted by the board and approved by the commissioner.

(b) The plan of operation shall: (1) Establish procedures for operation of the pool; (2) Establish procedures for selecting a plan administrator in accordance with § 23-79-508 ; (3) Create a fund, under management of the board, to pay administrative claims and other expenses of the pool; (4) Establish procedures for the handling, accounting, and auditing of assets, moneys, and claims of the pool and the plan administrator; (5) Develop and implement a program to publicize the existence of the plan, the eligibility requirements, and the procedures for enrollment and to maintain public awareness of the plan; (6) (A) Establish procedures under which applicants and participants may have grievances reviewed by a grievance committee appointed by the board. The grievances shall be reported to the board after completion of the review. (B) The board shall retain all written complaints regarding the plan for at least three (3) years; and (7) Provide for other matters as may be necessary and proper for the execution of the board's powers, duties, and obligations under this subchapter.

(1) Establish procedures for operation of the pool;

(2) Establish procedures for selecting a plan administrator in accordance with § 23-79-508 ;

(3) Create a fund, under management of the board, to pay administrative claims and other expenses of the pool;

(4) Establish procedures for the handling, accounting, and auditing of assets, moneys, and claims of the pool and the plan administrator;

(5) Develop and implement a program to publicize the existence of the plan, the eligibility requirements, and the procedures for enrollment and to maintain public awareness of the plan;

(6) (A) Establish procedures under which applicants and participants may have grievances reviewed by a grievance committee appointed by the board. The grievances shall be reported to the board after completion of the review. (B) The board shall retain all written complaints regarding the plan for at least three (3) years; and

(A) Establish procedures under which applicants and participants may have grievances reviewed by a grievance committee appointed by the board. The grievances shall be reported to the board after completion of the review.

(B) The board shall retain all written complaints regarding the plan for at least three (3) years; and

(7) Provide for other matters as may be necessary and proper for the execution of the board's powers, duties, and obligations under this subchapter.

Acts 1997, No. 292, § 5.
Ark. Code Ann. § 23-70-124 — AR Code / Title 23 / Chapter 70 / Section 23-70-124
Impaired reciprocals
Status: in_force

(a) If the assets of a reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others, and to maintain the required surplus, its attorney shall immediately make up the deficiency or levy an assessment upon the subscribers for the amount needed to make up the deficiency, but subject to the limitation set forth in the power of attorney or policy. (b) If the attorney fails to make up the deficiency or to make the assessment within thirty (30) days after the Insurance Commissioner orders the attorney to do so or if the deficiency is not fully made up within sixty (60) days after the date the assessment was made, the insurer shall be deemed insolvent and shall be proceeded against as authorized by §§ 23-68-101 - 23-68-113 and 23-68-115 - 23-68-132 . (c) If liquidation of the insurer is ordered, an assessment shall be levied upon the subscribers for such an amount, subject to limits as provided by this chapter, as the commissioner determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons, but including the reasonable cost of the liquidation. Acts 1959, No. 148, § 539; A.S.A. 1947, § 66-4330.

(a) If the assets of a reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others, and to maintain the required surplus, its attorney shall immediately make up the deficiency or levy an assessment upon the subscribers for the amount needed to make up the deficiency, but subject to the limitation set forth in the power of attorney or policy.

(b) If the attorney fails to make up the deficiency or to make the assessment within thirty (30) days after the Insurance Commissioner orders the attorney to do so or if the deficiency is not fully made up within sixty (60) days after the date the assessment was made, the insurer shall be deemed insolvent and shall be proceeded against as authorized by §§ 23-68-101 - 23-68-113 and 23-68-115 - 23-68-132 .

(c) If liquidation of the insurer is ordered, an assessment shall be levied upon the subscribers for such an amount, subject to limits as provided by this chapter, as the commissioner determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons, but including the reasonable cost of the liquidation.

Acts 1959, No. 148, § 539; A.S.A. 1947, § 66-4330.
Ark. Code Ann. § 23-14-124 — AR Code / Title 23 / Chapter 14 / Section 23-14-124
Regulation of securities and liens - Liability of state
Status: in_force

(a) The Arkansas Department of Transportation is empowered to supervise, regulate, restrict, and control the issuance of stock, stock certificates, bonds, notes, and other evidences of indebtedness by common carriers by aircraft incorporated under the laws of Arkansas and the creation of liens on property in this state by carriers incorporated under the laws of other states. (b) All securities issued without approval of the department as provided for in this section shall be void. (c) This section shall not apply to the issuance of any securities payable at periods of not more than twelve (12) months from the date thereof. (d) No provision in this chapter and no deed or act done or performed under or pursuant to this chapter shall be construed to obligate the State of Arkansas to pay or guarantee, in any manner whatsoever, any securities issued under the provisions of this chapter. Amended by Act 2017, No. 707,§ 252, eff. 8/1/2017. Acts 1945, No. 252, § 17; A.S.A. 1947, § 74-418.

(a) The Arkansas Department of Transportation is empowered to supervise, regulate, restrict, and control the issuance of stock, stock certificates, bonds, notes, and other evidences of indebtedness by common carriers by aircraft incorporated under the laws of Arkansas and the creation of liens on property in this state by carriers incorporated under the laws of other states.

(b) All securities issued without approval of the department as provided for in this section shall be void.

(c) This section shall not apply to the issuance of any securities payable at periods of not more than twelve (12) months from the date thereof.

(d) No provision in this chapter and no deed or act done or performed under or pursuant to this chapter shall be construed to obligate the State of Arkansas to pay or guarantee, in any manner whatsoever, any securities issued under the provisions of this chapter.

Amended by Act 2017, No. 707,§ 252, eff. 8/1/2017.

Acts 1945, No. 252, § 17; A.S.A. 1947, § 74-418.
Ark. Code Ann. § 23-88-207 — AR Code / Title 23 / Chapter 88 / Subchapter 2 / Section 23-88-207
Requirement to enter into insurance contract
Status: in_force

(a) No insurer may enter into a contract to insure any building, except one (1) to four (4) family owner-occupied dwellings, against the peril of fire to be issued after July 4, 1983, unless the insurer first receives an antiarson application signed and affirmed by the insured, if required by the Insurance Commissioner in accordance with the provisions of this subchapter. (b) (1) Any antiarson application required by this subchapter shall be deemed a material part of the insurance policy to which the application pertains. (2) A material misrepresentation shall be deemed grounds to rescind the insurance policy. Acts 1983, No. 359, § 3; A.S.A. 1947, § 66-5608.

(a) No insurer may enter into a contract to insure any building, except one (1) to four (4) family owner-occupied dwellings, against the peril of fire to be issued after July 4, 1983, unless the insurer first receives an antiarson application signed and affirmed by the insured, if required by the Insurance Commissioner in accordance with the provisions of this subchapter.

(b) (1) Any antiarson application required by this subchapter shall be deemed a material part of the insurance policy to which the application pertains. (2) A material misrepresentation shall be deemed grounds to rescind the insurance policy.

(1) Any antiarson application required by this subchapter shall be deemed a material part of the insurance policy to which the application pertains.

(2) A material misrepresentation shall be deemed grounds to rescind the insurance policy.

Acts 1983, No. 359, § 3; A.S.A. 1947, § 66-5608.
Ark. Code Ann. § 23-112-608 — AR Code / Title 23 / Chapter 112 / Subchapter 6 / Section 23-112-608
License certificate fees
Status: in_force

(a) (1) The fee for a license certificate shall be two hundred fifty dollars ($250) per year for each used motor vehicle dealer licensed. (2) (A) The fee shall be for the licensing period beginning on January 1 of each year and ending on December 31 of each year and shall be renewable during the month of January following its expiration, unless the Department of Arkansas State Police provides by rule a staggered method of annual renewal. (B) (i) If a license certificate has been expired for at least thirty-one (31) days but less than six (6) months, then the used motor vehicle dealer shall remit a late fee of thirty-five dollars ($35.00) before the used motor vehicle dealer's application shall be accepted. (ii) (a) A license that is not renewed within six (6) months of its expiration date shall be deemed permanently expired. (b) If a used motor vehicle dealer's license has permanently expired, then the used motor vehicle dealer may reapply for licensure, provided that the used motor vehicle dealer completes an application for licensure and remits all fees pursuant to this section. (3) A dealer having more than one (1) location will receive an additional certificate for each second and subsequent location for one hundred twenty-five dollars ($125) each. (b) Only used motor vehicle dealers licensed under this section shall qualify for used motor vehicle dealer's license plates from the Department of Finance and Administration. (c) All fees for the issuance of a license certificate under the provisions of this section shall be remitted to the Department of Arkansas State Police and shall be deposited into the State Treasury as special revenues to the credit of the Department of Arkansas State Police Fund. Acts 1993, No. 490, § 5; 2005, No. 1416, § 5.

(a) (1) The fee for a license certificate shall be two hundred fifty dollars ($250) per year for each used motor vehicle dealer licensed. (2) (A) The fee shall be for the licensing period beginning on January 1 of each year and ending on December 31 of each year and shall be renewable during the month of January following its expiration, unless the Department of Arkansas State Police provides by rule a staggered method of annual renewal. (B) (i) If a license certificate has been expired for at least thirty-one (31) days but less than six (6) months, then the used motor vehicle dealer shall remit a late fee of thirty-five dollars ($35.00) before the used motor vehicle dealer's application shall be accepted. (ii) (a) A license that is not renewed within six (6) months of its expiration date shall be deemed permanently expired. (b) If a used motor vehicle dealer's license has permanently expired, then the used motor vehicle dealer may reapply for licensure, provided that the used motor vehicle dealer completes an application for licensure and remits all fees pursuant to this section. (3) A dealer having more than one (1) location will receive an additional certificate for each second and subsequent location for one hundred twenty-five dollars ($125) each.

(1) The fee for a license certificate shall be two hundred fifty dollars ($250) per year for each used motor vehicle dealer licensed.

(2) (A) The fee shall be for the licensing period beginning on January 1 of each year and ending on December 31 of each year and shall be renewable during the month of January following its expiration, unless the Department of Arkansas State Police provides by rule a staggered method of annual renewal. (B) (i) If a license certificate has been expired for at least thirty-one (31) days but less than six (6) months, then the used motor vehicle dealer shall remit a late fee of thirty-five dollars ($35.00) before the used motor vehicle dealer's application shall be accepted. (ii) (a) A license that is not renewed within six (6) months of its expiration date shall be deemed permanently expired. (b) If a used motor vehicle dealer's license has permanently expired, then the used motor vehicle dealer may reapply for licensure, provided that the used motor vehicle dealer completes an application for licensure and remits all fees pursuant to this section.

(A) The fee shall be for the licensing period beginning on January 1 of each year and ending on December 31 of each year and shall be renewable during the month of January following its expiration, unless the Department of Arkansas State Police provides by rule a staggered method of annual renewal.

(B) (i) If a license certificate has been expired for at least thirty-one (31) days but less than six (6) months, then the used motor vehicle dealer shall remit a late fee of thirty-five dollars ($35.00) before the used motor vehicle dealer's application shall be accepted. (ii) (a) A license that is not renewed within six (6) months of its expiration date shall be deemed permanently expired. (b) If a used motor vehicle dealer's license has permanently expired, then the used motor vehicle dealer may reapply for licensure, provided that the used motor vehicle dealer completes an application for licensure and remits all fees pursuant to this section.

(i) If a license certificate has been expired for at least thirty-one (31) days but less than six (6) months, then the used motor vehicle dealer shall remit a late fee of thirty-five dollars ($35.00) before the used motor vehicle dealer's application shall be accepted.

(ii) (a) A license that is not renewed within six (6) months of its expiration date shall be deemed permanently expired. (b) If a used motor vehicle dealer's license has permanently expired, then the used motor vehicle dealer may reapply for licensure, provided that the used motor vehicle dealer completes an application for licensure and remits all fees pursuant to this section.

(a) A license that is not renewed within six (6) months of its expiration date shall be deemed permanently expired.

(b) If a used motor vehicle dealer's license has permanently expired, then the used motor vehicle dealer may reapply for licensure, provided that the used motor vehicle dealer completes an application for licensure and remits all fees pursuant to this section.

(3) A dealer having more than one (1) location will receive an additional certificate for each second and subsequent location for one hundred twenty-five dollars ($125) each.

(b) Only used motor vehicle dealers licensed under this section shall qualify for used motor vehicle dealer's license plates from the Department of Finance and Administration.

(c) All fees for the issuance of a license certificate under the provisions of this section shall be remitted to the Department of Arkansas State Police and shall be deposited into the State Treasury as special revenues to the credit of the Department of Arkansas State Police Fund.

Acts 1993, No. 490, § 5; 2005, No. 1416, § 5.
Ark. Code Ann. § 23-85-126 — AR Code / Title 23 / Chapter 85 / Section 23-85-126
Optional intoxicants and controlled substances provision
Status: in_force

There may be a provision as follows: "Intoxicants and Controlled Substances: The insurer shall not be liable for any loss sustained or contracted in consequence of the insured's being intoxicated or under the influence of any controlled substance unless administered on the advice of a physician." Acts 1959, No. 148, § 411; 1985, No. 804, § 15; A.S.A. 1947, § 66-3626.

There may be a provision as follows:

"Intoxicants and Controlled Substances: The insurer shall not be liable for any loss sustained or contracted in consequence of the insured's being intoxicated or under the influence of any controlled substance unless administered on the advice of a physician."

Acts 1959, No. 148, § 411; 1985, No. 804, § 15; A.S.A. 1947, § 66-3626.
Ark. Code Ann. § 23-67-411 — AR Code / Title 23 / Chapter 67 / Subchapter 4 / Section 23-67-411
Sale of policy term information by consumer reporting agency
Status: in_force

(a) (1) No consumer reporting agency shall provide or sell data or lists that include any information that, in whole or in part, was submitted in conjunction with an insurance inquiry about a consumer's credit information or a request for a credit report or credit score. (2) The information includes, but is not limited to: (A) The expiration dates of an insurance policy or any other information that may identify time periods during which a consumer's insurance may expire; and (B) The terms and conditions of the consumer's insurance coverage. (b) The restrictions provided in subsection (a) of this section do not apply to data or lists the consumer reporting agency supplies to the insurance producer from whom information was received, the insurer on whose behalf the producer acted, or the insurer's affiliates or holding companies. (c) Nothing in this section shall be construed to restrict any insurer from being able to obtain a claims history report or a motor vehicle report. Acts 2003, No. 1452, § 2.

(a) (1) No consumer reporting agency shall provide or sell data or lists that include any information that, in whole or in part, was submitted in conjunction with an insurance inquiry about a consumer's credit information or a request for a credit report or credit score. (2) The information includes, but is not limited to: (A) The expiration dates of an insurance policy or any other information that may identify time periods during which a consumer's insurance may expire; and (B) The terms and conditions of the consumer's insurance coverage.

(1) No consumer reporting agency shall provide or sell data or lists that include any information that, in whole or in part, was submitted in conjunction with an insurance inquiry about a consumer's credit information or a request for a credit report or credit score.

(2) The information includes, but is not limited to: (A) The expiration dates of an insurance policy or any other information that may identify time periods during which a consumer's insurance may expire; and (B) The terms and conditions of the consumer's insurance coverage.

(A) The expiration dates of an insurance policy or any other information that may identify time periods during which a consumer's insurance may expire; and

(B) The terms and conditions of the consumer's insurance coverage.

(b) The restrictions provided in subsection (a) of this section do not apply to data or lists the consumer reporting agency supplies to the insurance producer from whom information was received, the insurer on whose behalf the producer acted, or the insurer's affiliates or holding companies.

(c) Nothing in this section shall be construed to restrict any insurer from being able to obtain a claims history report or a motor vehicle report.

Acts 2003, No. 1452, § 2.
Ark. Code Ann. § 23-2-106 — AR Code / Title 23 / Chapter 2 / Subchapter 1 / Section 23-2-106
Assistant general counsel
Status: in_force

There is established in the Arkansas Public Service Commission the positions of two (2) assistant general counsel who shall be well-trained attorneys. Acts 1957, No. 75, § 1; A.S.A. 1947, § 73-105.1.

There is established in the Arkansas Public Service Commission the positions of two (2) assistant general counsel who shall be well-trained attorneys.

Acts 1957, No. 75, § 1; A.S.A. 1947, § 73-105.1.
Ark. Code Ann. § 23-90-102 — AR Code / Title 23 / Chapter 90 / Section 23-90-102
Purpose
Status: in_force

This chapter is for the purpose of providing funds in addition to assets of insolvent insurers for the protection of the holders of covered claims as defined in § 23-90-103 through payment and through contracts of reinsurance or assumption of liabilities or of substitution or otherwise. Acts 1977, No. 871, § 2; A.S.A. 1947, § 66-5502.

This chapter is for the purpose of providing funds in addition to assets of insolvent insurers for the protection of the holders of covered claims as defined in § 23-90-103 through payment and through contracts of reinsurance or assumption of liabilities or of substitution or otherwise.

Acts 1977, No. 871, § 2; A.S.A. 1947, § 66-5502.
Ark. Code Ann. § 23-69-119 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-119
Bylaws - Mutual insurers
Status: in_force

(a) (1) A domestic mutual insurer shall have bylaws consistent with § 23-69-111(b)(7) . (2) The initial board of directors of a domestic mutual insurer shall adopt original bylaws, subject to the approval of the insurer's members at the next succeeding meeting. (3) The members may make, modify, and revoke bylaws. (b) The bylaws shall provide: (1) (A) That on each matter coming to a vote at meetings of members, each member is entitled to one (1) vote or to more votes according to a reasonable classification of members stated in the bylaws and based on the amount of the insurance in force, the number of policies held, the amount of the premiums paid by the member, or other reasonable factors. (B) (i) A member may vote in person or by his or her written proxy. (ii) A proxy shall not be made irrevocable or for longer than a reasonable period of time; (2) For election of directors by the members and the number, qualifications, terms of office, and powers of directors; (3) The time, notice, quorum, and conduct of annual and special meetings of members and voting. The bylaws may provide that the annual meeting shall be held at a place, date, and time to be stated in the policy without giving other notice of the meeting; (4) The number, designation, election, terms, powers, and duties of the respective corporate officers; (5) For deposit, custody, disbursement, and accounting for corporate funds; and (6) For the other reasonable provisions customary, necessary, or convenient for the management or regulation of its corporate affairs. (c) A provision in the bylaws for determining a quorum of members at a meeting that is less than a majority of the insurer's members shall not be effective unless approved by the Insurance Commissioner. This subsection does not affect other law requiring the vote of a larger percentage of members for a specified purpose. (d) (1) The insurer shall promptly file with the commissioner a copy, certified by the insurer's secretary, of its bylaws and of each modification or addition. (2) The commissioner shall disapprove a bylaw provision that the commissioner deems unlawful, unreasonable, inadequate, unfair, or detrimental to the proper interests or protection of the insurer's members or any other class. (3) After receiving written notice of the disapproval of the bylaw provision and during the bylaw provision's existence, the insurer shall not effectuate a bylaw provision so disapproved. (e) Each domestic stock insurer shall provide written notice to the commissioner within fourteen (14) days after a modification of its bylaws. Acts 1959, No. 148, § 469; A.S.A. 1947, § 66-4217; Acts 2011, No. 760, § 11.

(a) (1) A domestic mutual insurer shall have bylaws consistent with § 23-69-111(b)(7) . (2) The initial board of directors of a domestic mutual insurer shall adopt original bylaws, subject to the approval of the insurer's members at the next succeeding meeting. (3) The members may make, modify, and revoke bylaws.

(1) A domestic mutual insurer shall have bylaws consistent with § 23-69-111(b)(7) .

(2) The initial board of directors of a domestic mutual insurer shall adopt original bylaws, subject to the approval of the insurer's members at the next succeeding meeting.

(3) The members may make, modify, and revoke bylaws.

(b) The bylaws shall provide: (1) (A) That on each matter coming to a vote at meetings of members, each member is entitled to one (1) vote or to more votes according to a reasonable classification of members stated in the bylaws and based on the amount of the insurance in force, the number of policies held, the amount of the premiums paid by the member, or other reasonable factors. (B) (i) A member may vote in person or by his or her written proxy. (ii) A proxy shall not be made irrevocable or for longer than a reasonable period of time; (2) For election of directors by the members and the number, qualifications, terms of office, and powers of directors; (3) The time, notice, quorum, and conduct of annual and special meetings of members and voting. The bylaws may provide that the annual meeting shall be held at a place, date, and time to be stated in the policy without giving other notice of the meeting; (4) The number, designation, election, terms, powers, and duties of the respective corporate officers; (5) For deposit, custody, disbursement, and accounting for corporate funds; and (6) For the other reasonable provisions customary, necessary, or convenient for the management or regulation of its corporate affairs.

(1) (A) That on each matter coming to a vote at meetings of members, each member is entitled to one (1) vote or to more votes according to a reasonable classification of members stated in the bylaws and based on the amount of the insurance in force, the number of policies held, the amount of the premiums paid by the member, or other reasonable factors. (B) (i) A member may vote in person or by his or her written proxy. (ii) A proxy shall not be made irrevocable or for longer than a reasonable period of time;

(A) That on each matter coming to a vote at meetings of members, each member is entitled to one (1) vote or to more votes according to a reasonable classification of members stated in the bylaws and based on the amount of the insurance in force, the number of policies held, the amount of the premiums paid by the member, or other reasonable factors.

(B) (i) A member may vote in person or by his or her written proxy. (ii) A proxy shall not be made irrevocable or for longer than a reasonable period of time;

(i) A member may vote in person or by his or her written proxy.

(ii) A proxy shall not be made irrevocable or for longer than a reasonable period of time;

(2) For election of directors by the members and the number, qualifications, terms of office, and powers of directors;

(3) The time, notice, quorum, and conduct of annual and special meetings of members and voting. The bylaws may provide that the annual meeting shall be held at a place, date, and time to be stated in the policy without giving other notice of the meeting;

(4) The number, designation, election, terms, powers, and duties of the respective corporate officers;

(5) For deposit, custody, disbursement, and accounting for corporate funds; and

(6) For the other reasonable provisions customary, necessary, or convenient for the management or regulation of its corporate affairs.

(c) A provision in the bylaws for determining a quorum of members at a meeting that is less than a majority of the insurer's members shall not be effective unless approved by the Insurance Commissioner. This subsection does not affect other law requiring the vote of a larger percentage of members for a specified purpose.

(d) (1) The insurer shall promptly file with the commissioner a copy, certified by the insurer's secretary, of its bylaws and of each modification or addition. (2) The commissioner shall disapprove a bylaw provision that the commissioner deems unlawful, unreasonable, inadequate, unfair, or detrimental to the proper interests or protection of the insurer's members or any other class. (3) After receiving written notice of the disapproval of the bylaw provision and during the bylaw provision's existence, the insurer shall not effectuate a bylaw provision so disapproved.

(1) The insurer shall promptly file with the commissioner a copy, certified by the insurer's secretary, of its bylaws and of each modification or addition.

(2) The commissioner shall disapprove a bylaw provision that the commissioner deems unlawful, unreasonable, inadequate, unfair, or detrimental to the proper interests or protection of the insurer's members or any other class.

(3) After receiving written notice of the disapproval of the bylaw provision and during the bylaw provision's existence, the insurer shall not effectuate a bylaw provision so disapproved.

(e) Each domestic stock insurer shall provide written notice to the commissioner within fourteen (14) days after a modification of its bylaws.

Acts 1959, No. 148, § 469; A.S.A. 1947, § 66-4217; Acts 2011, No. 760, § 11.
Ark. Code Ann. § 23-2-207 — AR Code / Title 23 / Chapter 2 / Subchapter 2 / Section 23-2-207
[Repealed]
Status: repealed

Repealed by Act 2017, No. 707,§ 91, eff. 8/1/2017. Acts 1957, No. 132, § 6; A.S.A. 1947, § 73-157.

Repealed by Act 2017, No. 707,§ 91, eff. 8/1/2017.

Acts 1957, No. 132, § 6; A.S.A. 1947, § 73-157.
Ark. Code Ann. § 23-17-506 — AR Code / Title 23 / Chapter 17 / Subchapter 5 / Section 23-17-506
Requirements - Height limits - Standards
Status: in_force

(a) Each new or modified pole installed in the right-of-way for the purpose of the collocation of small wireless facilities shall not exceed the greater of: (1) Fifty feet (50') in height above ground level; or (2) Ten percent (10%) taller than the tallest existing pole in place in the same right-of-way as of September 1, 2019, within three hundred feet (300') of the new or modified pole. (b) A new small wireless facility in the right-of-way shall not extend more than ten percent (10%) above the existing structure on which it is located or fifty feet (50') above ground level, whichever is greater. (c) A wireless provider shall have the right to collocate a wireless facility and install, maintain, modify, and replace a pole that exceeds the height limits required under subsection (a) of this section along, across, upon, and under the right-of-way, subject to this section and any applicable zoning regulations. (d) A wireless provider shall not install a small wireless facility or pole in a historic district without complying with the requirements of general application for structures within the historic district. (e) A wireless provider may replace decorative poles when necessary to deploy a small wireless facility so long as the replacement reasonably conforms to the design of the original decorative pole. Added by Act 2019, No. 999,§ 1, eff. 9/1/2019. Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.

(a) Each new or modified pole installed in the right-of-way for the purpose of the collocation of small wireless facilities shall not exceed the greater of: (1) Fifty feet (50') in height above ground level; or (2) Ten percent (10%) taller than the tallest existing pole in place in the same right-of-way as of September 1, 2019, within three hundred feet (300') of the new or modified pole.

(1) Fifty feet (50') in height above ground level; or

(2) Ten percent (10%) taller than the tallest existing pole in place in the same right-of-way as of September 1, 2019, within three hundred feet (300') of the new or modified pole.

(b) A new small wireless facility in the right-of-way shall not extend more than ten percent (10%) above the existing structure on which it is located or fifty feet (50') above ground level, whichever is greater.

(c) A wireless provider shall have the right to collocate a wireless facility and install, maintain, modify, and replace a pole that exceeds the height limits required under subsection (a) of this section along, across, upon, and under the right-of-way, subject to this section and any applicable zoning regulations.

(d) A wireless provider shall not install a small wireless facility or pole in a historic district without complying with the requirements of general application for structures within the historic district.

(e) A wireless provider may replace decorative poles when necessary to deploy a small wireless facility so long as the replacement reasonably conforms to the design of the original decorative pole.

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. § 23-2-424 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-424
Commission orders - Rehearing or judicial review - Effect on order, stocks, etc
Status: in_force

(a) (1) The filing of an application for rehearing under § 23-2-422 shall not, unless specifically ordered by the Arkansas Public Service Commission, operate as a stay of the commission's order. (2) The commencement of proceedings under § 23-2-423 shall not, unless specifically ordered by the Court of Appeals, operate as a stay of the commission's order. (b) The Court of Appeals may enter an order suspending or staying the operation of an order of the commission pending review of the order, provided the other parties are adequately secured against loss due to the delay in the enforcement of the order, in case the order involved is affirmed. The security is to take such form as shall be directed by the court. (c) (1) Any provision of this section, § 23-2-401 , and §§ 23-2-421 - 23-2-423 notwithstanding, if the commission order involves rate changes which have already been made effective under bond pursuant to § 23-4-408 , then the order shall take effect not less than twenty (20) days following service. (2) If in this period an application for rehearing is filed, then the order shall be stayed until such time as the application is ruled on and any judicial appeals are concluded. (d) Stocks or stock certificates, bonds, notes, or other evidences of indebtedness issued pursuant to and in accordance with an order of the commission shall be valid and binding in accordance with their terms, notwithstanding that the order of the commission may be or is later abrogated, vacated, changed, modified, or otherwise held to be wholly or partially invalid, unless, prior to issuance, the operation or effectiveness of the order has been stayed or suspended by the commission or a reviewing court. Acts 1973, No. 231, § 3; 1985, No. 770, § 1; A.S.A. 1947, § 73-229.1; Acts 1987, No. 265, § 2.

(a) (1) The filing of an application for rehearing under § 23-2-422 shall not, unless specifically ordered by the Arkansas Public Service Commission, operate as a stay of the commission's order. (2) The commencement of proceedings under § 23-2-423 shall not, unless specifically ordered by the Court of Appeals, operate as a stay of the commission's order.

(1) The filing of an application for rehearing under § 23-2-422 shall not, unless specifically ordered by the Arkansas Public Service Commission, operate as a stay of the commission's order.

(2) The commencement of proceedings under § 23-2-423 shall not, unless specifically ordered by the Court of Appeals, operate as a stay of the commission's order.

(b) The Court of Appeals may enter an order suspending or staying the operation of an order of the commission pending review of the order, provided the other parties are adequately secured against loss due to the delay in the enforcement of the order, in case the order involved is affirmed. The security is to take such form as shall be directed by the court.

(c) (1) Any provision of this section, § 23-2-401 , and §§ 23-2-421 - 23-2-423 notwithstanding, if the commission order involves rate changes which have already been made effective under bond pursuant to § 23-4-408 , then the order shall take effect not less than twenty (20) days following service. (2) If in this period an application for rehearing is filed, then the order shall be stayed until such time as the application is ruled on and any judicial appeals are concluded.

(1) Any provision of this section, § 23-2-401 , and §§ 23-2-421 - 23-2-423 notwithstanding, if the commission order involves rate changes which have already been made effective under bond pursuant to § 23-4-408 , then the order shall take effect not less than twenty (20) days following service.

(2) If in this period an application for rehearing is filed, then the order shall be stayed until such time as the application is ruled on and any judicial appeals are concluded.

(d) Stocks or stock certificates, bonds, notes, or other evidences of indebtedness issued pursuant to and in accordance with an order of the commission shall be valid and binding in accordance with their terms, notwithstanding that the order of the commission may be or is later abrogated, vacated, changed, modified, or otherwise held to be wholly or partially invalid, unless, prior to issuance, the operation or effectiveness of the order has been stayed or suspended by the commission or a reviewing court.

Acts 1973, No. 231, § 3; 1985, No. 770, § 1; A.S.A. 1947, § 73-229.1; Acts 1987, No. 265, § 2.
Ark. Code Ann. § 23-98-101 — AR Code / Title 23 / Chapter 98 / Section 23-98-101
Legislative findings
Status: in_force

The General Assembly finds that the cost of health insurance coverage is not affordable for many small businesses, their employees, self-employed persons, and other individuals, and that as a result hundreds of thousands of Arkansas citizens do not have any health insurance coverage. It is the intent of the General Assembly to reduce the cost of health insurance for these citizens by: (1) Authorizing the development of new classes of hospital and medical insurance coverage for qualified groups, families, and individuals; and (2) Authorizing the Insurance Commissioner to develop means to assist in limiting the marketing and administrative costs of certain of such new classes of insurance coverage. Acts 1991, No. 238, § 1.

The General Assembly finds that the cost of health insurance coverage is not affordable for many small businesses, their employees, self-employed persons, and other individuals, and that as a result hundreds of thousands of Arkansas citizens do not have any health insurance coverage. It is the intent of the General Assembly to reduce the cost of health insurance for these citizens by:

(1) Authorizing the development of new classes of hospital and medical insurance coverage for qualified groups, families, and individuals; and

(2) Authorizing the Insurance Commissioner to develop means to assist in limiting the marketing and administrative costs of certain of such new classes of insurance coverage.

Acts 1991, No. 238, § 1.
Ark. Code Ann. § 23-61-601 — AR Code / Title 23 / Chapter 61 / Subchapter 6 / Section 23-61-601
Title
Status: in_force

This subchapter may be cited as the "Risk Management Act". Acts 1981, No. 272, § 3; A.S.A. 1947, § 66-5703.

This subchapter may be cited as the "Risk Management Act".

Acts 1981, No. 272, § 3; A.S.A. 1947, § 66-5703.
Ark. Code Ann. § 23-91-204 — AR Code / Title 23 / Chapter 91 / Subchapter 2 / Section 23-91-204
[Repealed]
Status: repealed

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023. Amended by Act 2019, No. 315,§ 2769, eff. 7/24/2019. Acts 1977, No. 368, §§ 22, 23; A.S.A. 1947, §§ 66-5422, 66-5423.

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

Amended by Act 2019, No. 315,§ 2769, eff. 7/24/2019.

Acts 1977, No. 368, §§ 22, 23; A.S.A. 1947, §§ 66-5422, 66-5423.
Ark. Code Ann. § 23-63-823 — AR Code / Title 23 / Chapter 63 / Subchapter 8 / Section 23-63-823
Savings and loan associations
Status: in_force

To the extent that an account does not exceed an amount equal to the sum of all reserve accounts, except specific or valuation reserves, undivided profits, surplus, and capital stock, but not including the proceeds of capital notes, debentures, or similar obligations, an insurer may invest in share or savings accounts of savings or building and loan associations. Acts 1959, No. 148, § 119; 1979, No. 367, § 1; A.S.A. 1947, § 66-2623.

To the extent that an account does not exceed an amount equal to the sum of all reserve accounts, except specific or valuation reserves, undivided profits, surplus, and capital stock, but not including the proceeds of capital notes, debentures, or similar obligations, an insurer may invest in share or savings accounts of savings or building and loan associations.

Acts 1959, No. 148, § 119; 1979, No. 367, § 1; A.S.A. 1947, § 66-2623.
Ark. Code Ann. § 23-112-902 — AR Code / Title 23 / Chapter 112 / Subchapter 9 / Section 23-112-902
Definitions
Status: in_force

As used in this subchapter: (1) "Nonprofit entity" means an entity that has received tax exempt status from the Internal Revenue Service under section 501(c)(3) or section (501)(c)(4) of the Internal Revenue Code of 1986, 26 U.S.C. § 501(c)(3) or 26 U.S.C. § 501(c)(4) , as they existed on January 1, 2011; (2) "Public venue" means a location that: (A) Is open to the general public; and (B) Is not the address designated as the primary business address of a new motor vehicle dealer licensed by the Arkansas Motor Vehicle Commission or a used motor vehicle dealer licensed by the Department of Arkansas State Police; (3) "Recreational vehicle owners' organization" means an entity that is organized as a nonprofit entity or for-profit entity and in good standing with the Secretary of State; (4) "Recreational vehicle special event" means an event held at a public venue with or without an admission fee that: (A) Is sponsored by a city, a county, a nonprofit entity, or a recreational vehicle owners' organization; (B) Occurs for no more than seven (7) consecutive days; and (C) Includes any of the following that are invited to attend: (i) New recreational vehicle dealers to display and sell recreational vehicles; or (ii) New recreational vehicle manufacturers or distributors to display recreational vehicles; and (5) "Significant positive economic impact" means an economic benefit of at least two million dollars ($2,000,000) to the state or a region of the state. Acts 2011, No. 263, § 1.

As used in this subchapter:

(1) "Nonprofit entity" means an entity that has received tax exempt status from the Internal Revenue Service under section 501(c)(3) or section (501)(c)(4) of the Internal Revenue Code of 1986, 26 U.S.C. § 501(c)(3) or 26 U.S.C. § 501(c)(4) , as they existed on January 1, 2011;

(2) "Public venue" means a location that: (A) Is open to the general public; and (B) Is not the address designated as the primary business address of a new motor vehicle dealer licensed by the Arkansas Motor Vehicle Commission or a used motor vehicle dealer licensed by the Department of Arkansas State Police;

(A) Is open to the general public; and

(B) Is not the address designated as the primary business address of a new motor vehicle dealer licensed by the Arkansas Motor Vehicle Commission or a used motor vehicle dealer licensed by the Department of Arkansas State Police;

(3) "Recreational vehicle owners' organization" means an entity that is organized as a nonprofit entity or for-profit entity and in good standing with the Secretary of State;

(4) "Recreational vehicle special event" means an event held at a public venue with or without an admission fee that: (A) Is sponsored by a city, a county, a nonprofit entity, or a recreational vehicle owners' organization; (B) Occurs for no more than seven (7) consecutive days; and (C) Includes any of the following that are invited to attend: (i) New recreational vehicle dealers to display and sell recreational vehicles; or (ii) New recreational vehicle manufacturers or distributors to display recreational vehicles; and

(A) Is sponsored by a city, a county, a nonprofit entity, or a recreational vehicle owners' organization;

(B) Occurs for no more than seven (7) consecutive days; and

(C) Includes any of the following that are invited to attend: (i) New recreational vehicle dealers to display and sell recreational vehicles; or (ii) New recreational vehicle manufacturers or distributors to display recreational vehicles; and

(i) New recreational vehicle dealers to display and sell recreational vehicles; or

(ii) New recreational vehicle manufacturers or distributors to display recreational vehicles; and

(5) "Significant positive economic impact" means an economic benefit of at least two million dollars ($2,000,000) to the state or a region of the state.

Acts 2011, No. 263, § 1.
Ark. Code Ann. § 23-48-507 — AR Code / Title 23 / Chapter 48 / Subchapter 5 / Section 23-48-507
Continuation of corporate entity - Use of old name
Status: in_force

(a) A resulting bank shall be the same business and corporate entity as each party to the merger or as the converting bank, with all the property, rights, powers, liabilities, and duties of each party to the merger or the converting bank, except as affected by the state law in the case of a resulting state bank or the federal law in the case of a resulting national bank and by the charter and bylaws of the resulting bank. (b) A resulting bank shall have the right to use the name of any party to the merger or of the converting bank whenever it can more conveniently do any act under that name. (c) Any reference to a party to the merger or converting bank in a contract, will, or document, whether executed or taking effect before or after the merger or conversion, shall be deemed to refer and apply to the resulting bank if not inconsistent with the other provisions of the writing. Acts 1997, No. 89, § 1.

(a) A resulting bank shall be the same business and corporate entity as each party to the merger or as the converting bank, with all the property, rights, powers, liabilities, and duties of each party to the merger or the converting bank, except as affected by the state law in the case of a resulting state bank or the federal law in the case of a resulting national bank and by the charter and bylaws of the resulting bank.

(b) A resulting bank shall have the right to use the name of any party to the merger or of the converting bank whenever it can more conveniently do any act under that name.

(c) Any reference to a party to the merger or converting bank in a contract, will, or document, whether executed or taking effect before or after the merger or conversion, shall be deemed to refer and apply to the resulting bank if not inconsistent with the other provisions of the writing.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-36-101 — AR Code / Title 23 / Chapter 36 / Section 23-36-101
Definition
Status: in_force

As used in this chapter, unless the context otherwise requires, "industrial loan institution" means any corporation organized under the general corporation laws of this state, which is engaged in lending money, to be paid in weekly, monthly, or other periodical installments or principal sums, as a business. However, this definition shall not be construed to include building and loan associations, commercial banks or savings banks, trust companies, credit unions, pawnbrokers, agricultural or livestock pools, rural credit unions, or farmers cooperative societies. Acts 1941, No. 111, § 1; A.S.A. 1947, § 67-1001.

As used in this chapter, unless the context otherwise requires, "industrial loan institution" means any corporation organized under the general corporation laws of this state, which is engaged in lending money, to be paid in weekly, monthly, or other periodical installments or principal sums, as a business. However, this definition shall not be construed to include building and loan associations, commercial banks or savings banks, trust companies, credit unions, pawnbrokers, agricultural or livestock pools, rural credit unions, or farmers cooperative societies.

Acts 1941, No. 111, § 1; A.S.A. 1947, § 67-1001.
Ark. Code Ann. § 23-11-301 — AR Code / Title 23 / Chapter 11 / Subchapter 3 / Section 23-11-301
Authority of railroad to sell or lease road or property
Status: in_force

Every railroad corporation incorporated under the laws of this state whose road is wholly or in part constructed and operating is authorized to sell, lease, or otherwise dispose of the whole, or any part, of its roadways, and rights-of-way, with the franchises thereto belonging, and its other property to any connecting railroad company or to any railroad corporation organized under the laws of this state, upon such terms and conditions as may be agreed upon by the board of directors of the corporation and ratified by a two-thirds (2/3) vote of the issued capital stock thereof, and is authorized to receive the bonds or stock of the purchasing corporation in whole or in part payment of the purchase. Acts 1881, No. 43, § 3, p. 79; C. & M. Dig., § 8526; Pope's Dig., § 11102; A.S.A. 1947, § 73-401.

Every railroad corporation incorporated under the laws of this state whose road is wholly or in part constructed and operating is authorized to sell, lease, or otherwise dispose of the whole, or any part, of its roadways, and rights-of-way, with the franchises thereto belonging, and its other property to any connecting railroad company or to any railroad corporation organized under the laws of this state, upon such terms and conditions as may be agreed upon by the board of directors of the corporation and ratified by a two-thirds (2/3) vote of the issued capital stock thereof, and is authorized to receive the bonds or stock of the purchasing corporation in whole or in part payment of the purchase.

Acts 1881, No. 43, § 3, p. 79; C. & M. Dig., § 8526; Pope's Dig., § 11102; A.S.A. 1947, § 73-401.
Ark. Code Ann. § 23-91-221 — AR Code / Title 23 / Chapter 91 / Subchapter 2 / Section 23-91-221
[Repealed]
Status: repealed

Repealed by Act 2023, No. 32,§ 1, eff. 8/1/2023. Acts 1977, No. 368, § 14; A.S.A. 1947, § 66-5414; Acts 2005, No. 1962, § 110.

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

Acts 1977, No. 368, § 14; A.S.A. 1947, § 66-5414; Acts 2005, No. 1962, § 110.