Ark. Code Ann. § 23-13-234 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-234
Operation without certificate or permit prohibited - Violation of terms, conditions, etc., of certificate, permit, or license prohibited
Status: in_force

(a) (1) Any motor carrier using the highways of this state without first having obtained a permit or certificate from the Arkansas Department of Transportation, as provided by this subchapter, or who, being a holder thereof, violates any term, condition, or provision thereof shall be subject to a civil penalty to be collected by the department, after notice and hearing, in an amount not less than one hundred dollars ($100) nor more than five hundred dollars ($500). (2) If the penalty is not paid within ten (10) days from the date of the order of the department assessing the penalty, twenty-five percent (25%) thereof shall be added to the penalty. (3) Any amounts collected from the penalties provided for under this subsection shall be deposited by the department into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund. (b) (1) Any person required by this subchapter to obtain a certificate of convenience and necessity as a common carrier or a permit as a contract carrier and operates as such a carrier without doing so shall be guilty of a violation. Upon conviction, he or she shall be fined not less than one hundred dollars ($100) nor more than five hundred dollars ($500) for the first such offense and not less than one hundred dollars ($100) nor more than one thousand dollars ($1,000) for each subsequent offense. (2) Each day of the violation shall be a separate offense. (c) (1) Any person violating any other provision or any term or condition of any certificate, permit, or license, except as otherwise provided in § 23-13-258 , shall be guilty of a violation and upon conviction shall be fined not more than one hundred dollars ($100) for the first offense and not more than five hundred dollars ($500) for any subsequent offense. (2) Each day of the violation shall constitute a separate offense. (3) In addition thereto, the person shall be subject to the civil penalties provided in subsection (a) of this section. Amended by Act 2017, No. 707,§ 207, eff. 8/1/2017. Acts 1955, No. 397, § 22; 1971, No. 532, § 1; 1983, No. 565, § 5; A.S.A. 1947, § 73-1775; Acts 2005, No. 1994, § 148.

(a) (1) Any motor carrier using the highways of this state without first having obtained a permit or certificate from the Arkansas Department of Transportation, as provided by this subchapter, or who, being a holder thereof, violates any term, condition, or provision thereof shall be subject to a civil penalty to be collected by the department, after notice and hearing, in an amount not less than one hundred dollars ($100) nor more than five hundred dollars ($500). (2) If the penalty is not paid within ten (10) days from the date of the order of the department assessing the penalty, twenty-five percent (25%) thereof shall be added to the penalty. (3) Any amounts collected from the penalties provided for under this subsection shall be deposited by the department into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund.

(1) Any motor carrier using the highways of this state without first having obtained a permit or certificate from the Arkansas Department of Transportation, as provided by this subchapter, or who, being a holder thereof, violates any term, condition, or provision thereof shall be subject to a civil penalty to be collected by the department, after notice and hearing, in an amount not less than one hundred dollars ($100) nor more than five hundred dollars ($500).

(2) If the penalty is not paid within ten (10) days from the date of the order of the department assessing the penalty, twenty-five percent (25%) thereof shall be added to the penalty.

(3) Any amounts collected from the penalties provided for under this subsection shall be deposited by the department into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund.

(b) (1) Any person required by this subchapter to obtain a certificate of convenience and necessity as a common carrier or a permit as a contract carrier and operates as such a carrier without doing so shall be guilty of a violation. Upon conviction, he or she shall be fined not less than one hundred dollars ($100) nor more than five hundred dollars ($500) for the first such offense and not less than one hundred dollars ($100) nor more than one thousand dollars ($1,000) for each subsequent offense. (2) Each day of the violation shall be a separate offense.

(1) Any person required by this subchapter to obtain a certificate of convenience and necessity as a common carrier or a permit as a contract carrier and operates as such a carrier without doing so shall be guilty of a violation. Upon conviction, he or she shall be fined not less than one hundred dollars ($100) nor more than five hundred dollars ($500) for the first such offense and not less than one hundred dollars ($100) nor more than one thousand dollars ($1,000) for each subsequent offense.

(2) Each day of the violation shall be a separate offense.

(c) (1) Any person violating any other provision or any term or condition of any certificate, permit, or license, except as otherwise provided in § 23-13-258 , shall be guilty of a violation and upon conviction shall be fined not more than one hundred dollars ($100) for the first offense and not more than five hundred dollars ($500) for any subsequent offense. (2) Each day of the violation shall constitute a separate offense. (3) In addition thereto, the person shall be subject to the civil penalties provided in subsection (a) of this section.

(1) Any person violating any other provision or any term or condition of any certificate, permit, or license, except as otherwise provided in § 23-13-258 , shall be guilty of a violation and upon conviction shall be fined not more than one hundred dollars ($100) for the first offense and not more than five hundred dollars ($500) for any subsequent offense.

(2) Each day of the violation shall constitute a separate offense.

(3) In addition thereto, the person shall be subject to the civil penalties provided in subsection (a) of this section.

Amended by Act 2017, No. 707,§ 207, eff. 8/1/2017.

Acts 1955, No. 397, § 22; 1971, No. 532, § 1; 1983, No. 565, § 5; A.S.A. 1947, § 73-1775; Acts 2005, No. 1994, § 148.
Ark. Code Ann. § 23-98-107 — AR Code / Title 23 / Chapter 98 / Section 23-98-107
Disclosure requirements for minimum basic benefit policies
Status: in_force

(a) Before any insurer issues a minimum basic benefit policy, it shall obtain from the prospective insured a signed, written statement in a form approved by the Insurance Commissioner in which the prospective insured: (1) Certifies as to eligibility for coverage under the minimum basic benefit policy; (2) Acknowledges the limited nature of the coverage provided and an understanding of the managed care and cost control features of the minimum basic benefit policy; (3) Acknowledges that if misrepresentations are made regarding the insured's eligibility for coverage under a minimum basic benefit policy, then the person making the misrepresentations shall forfeit coverage provided by the minimum basic benefit policy; and (4) Acknowledges that the prospective insured, at the time of application for the minimum basic benefit policy, was offered the opportunity to purchase health insurance coverage which would have included all mandated or mandated optional benefits required by Arkansas law and that the prospective insured rejected such coverage. (b) A copy of the written statement shall be provided to the prospective insured no later than at the time of minimum basic benefit policy delivery, and the original of the written statement shall be retained by the insurer for the longer of either the period of time in which the minimum basic benefit policy remains in effect or five (5) years. (c) At the time coverage under a minimum basic benefit policy shall take effect for an insured, the insurer shall provide the insured with a written disclosure statement containing such information as the commissioner shall require and in a form approved by the commissioner. The disclosure statement shall be separate from the insurance policy or evidence of coverage provided to the insured. The disclosure statement shall contain at least the following information: (1) An explanation of those mandated or mandated optional benefits not covered by the minimum basic benefit policy but which would otherwise be required to be provided under Arkansas law; (2) An explanation of the managed care and cost control features of the minimum basic benefit policy, along with all appropriate mailing addresses and telephone numbers to be utilized by the insured in seeking information or authorization, as well as a list of any preferred providers then contracting with the insurer, and an explanation of the obligations of the providers and the insured with regard to services determined not to be medically necessary; and (3) An explanation of the primary and preventive care features of the minimum basic benefit policy. (d) Any material statement made by an applicant for coverage under a minimum basic benefit policy which falsely certifies as to the applicant's eligibility for coverage under a minimum basic benefit policy shall serve as the basis for termination of coverage under any minimum basic benefit policy issued to the applicant. Acts 1991, No. 238, § 8.

(a) Before any insurer issues a minimum basic benefit policy, it shall obtain from the prospective insured a signed, written statement in a form approved by the Insurance Commissioner in which the prospective insured: (1) Certifies as to eligibility for coverage under the minimum basic benefit policy; (2) Acknowledges the limited nature of the coverage provided and an understanding of the managed care and cost control features of the minimum basic benefit policy; (3) Acknowledges that if misrepresentations are made regarding the insured's eligibility for coverage under a minimum basic benefit policy, then the person making the misrepresentations shall forfeit coverage provided by the minimum basic benefit policy; and (4) Acknowledges that the prospective insured, at the time of application for the minimum basic benefit policy, was offered the opportunity to purchase health insurance coverage which would have included all mandated or mandated optional benefits required by Arkansas law and that the prospective insured rejected such coverage.

(1) Certifies as to eligibility for coverage under the minimum basic benefit policy;

(2) Acknowledges the limited nature of the coverage provided and an understanding of the managed care and cost control features of the minimum basic benefit policy;

(3) Acknowledges that if misrepresentations are made regarding the insured's eligibility for coverage under a minimum basic benefit policy, then the person making the misrepresentations shall forfeit coverage provided by the minimum basic benefit policy; and

(4) Acknowledges that the prospective insured, at the time of application for the minimum basic benefit policy, was offered the opportunity to purchase health insurance coverage which would have included all mandated or mandated optional benefits required by Arkansas law and that the prospective insured rejected such coverage.

(b) A copy of the written statement shall be provided to the prospective insured no later than at the time of minimum basic benefit policy delivery, and the original of the written statement shall be retained by the insurer for the longer of either the period of time in which the minimum basic benefit policy remains in effect or five (5) years.

(c) At the time coverage under a minimum basic benefit policy shall take effect for an insured, the insurer shall provide the insured with a written disclosure statement containing such information as the commissioner shall require and in a form approved by the commissioner. The disclosure statement shall be separate from the insurance policy or evidence of coverage provided to the insured. The disclosure statement shall contain at least the following information: (1) An explanation of those mandated or mandated optional benefits not covered by the minimum basic benefit policy but which would otherwise be required to be provided under Arkansas law; (2) An explanation of the managed care and cost control features of the minimum basic benefit policy, along with all appropriate mailing addresses and telephone numbers to be utilized by the insured in seeking information or authorization, as well as a list of any preferred providers then contracting with the insurer, and an explanation of the obligations of the providers and the insured with regard to services determined not to be medically necessary; and (3) An explanation of the primary and preventive care features of the minimum basic benefit policy.

(1) An explanation of those mandated or mandated optional benefits not covered by the minimum basic benefit policy but which would otherwise be required to be provided under Arkansas law;

(2) An explanation of the managed care and cost control features of the minimum basic benefit policy, along with all appropriate mailing addresses and telephone numbers to be utilized by the insured in seeking information or authorization, as well as a list of any preferred providers then contracting with the insurer, and an explanation of the obligations of the providers and the insured with regard to services determined not to be medically necessary; and

(3) An explanation of the primary and preventive care features of the minimum basic benefit policy.

(d) Any material statement made by an applicant for coverage under a minimum basic benefit policy which falsely certifies as to the applicant's eligibility for coverage under a minimum basic benefit policy shall serve as the basis for termination of coverage under any minimum basic benefit policy issued to the applicant.

Acts 1991, No. 238, § 8.
Ark. Code Ann. § 23-17-217 — AR Code / Title 23 / Chapter 17 / Subchapter 2 / Section 23-17-217
Meetings of members
Status: in_force

(a) Meetings of members may be held at such place as may be designated by the board. In the absence of any such provision, all meetings shall be held in the principal office of the cooperative in this state. (b) Annual meetings of the members shall be held at such time as may be designated by the board. Failure to hold the annual meeting at the designated time shall not work forfeiture or dissolution of the cooperative. (c) Special meetings of the members may be called by the president, or by the board of directors, and shall be called by the president upon petition signed by not less than ten percent (10%) of all the members. (d) Written or printed notice, containing the place, day, and hour of the meeting of members and, in case of special meeting, the purpose for which the meeting is called, shall be delivered not fewer than five (5) days nor more than sixty (60) days before the date of the meeting, either personally or by mail, to each member of record entitled to vote as a member at the meeting. If mailed, the notice shall be deemed to be delivered when deposited in the United States mails, with postage prepaid, in a sealed envelope addressed to the member at his or her address as it appears on the records of the cooperative. (e) Each member present in person at any meeting shall be entitled to one (1), and only one (1), vote on each matter submitted to a vote at a meeting of the members, but voting by mail or proxy may be provided for in the bylaws. Notwithstanding, the bylaws may require each member to vote in person on certain matters. (f) (1) Unless the bylaws prescribe the presence of a greater percentage of the number of members for a quorum, a quorum for the transaction of business at all meetings of the members of the cooperative shall be ten percent (10%) of all members, and, of a cooperative having more than five hundred (500) members, a quorum shall be not fewer than fifty (50) members. However, in the event a cooperative is unable to attain a quorum at its annual meeting, the board of directors in the next annual meeting or in a notice of special meeting may declare that the number of members present at the meeting shall constitute a quorum for the purpose of conducting business. (2) If less than a quorum is present at any meeting, a majority of those present in person or by proxy may adjourn the meeting from time to time without further notice. Acts 1951, No. 51, §§ 14-17; A.S.A. 1947, §§ 77-1614 -- 77-1617; Acts 1989, No. 437, § 11; 1997, No. 316, § 7; 1999, No. 946, §§ 5, 6.

(a) Meetings of members may be held at such place as may be designated by the board. In the absence of any such provision, all meetings shall be held in the principal office of the cooperative in this state.

(b) Annual meetings of the members shall be held at such time as may be designated by the board. Failure to hold the annual meeting at the designated time shall not work forfeiture or dissolution of the cooperative.

(c) Special meetings of the members may be called by the president, or by the board of directors, and shall be called by the president upon petition signed by not less than ten percent (10%) of all the members.

(d) Written or printed notice, containing the place, day, and hour of the meeting of members and, in case of special meeting, the purpose for which the meeting is called, shall be delivered not fewer than five (5) days nor more than sixty (60) days before the date of the meeting, either personally or by mail, to each member of record entitled to vote as a member at the meeting. If mailed, the notice shall be deemed to be delivered when deposited in the United States mails, with postage prepaid, in a sealed envelope addressed to the member at his or her address as it appears on the records of the cooperative.

(e) Each member present in person at any meeting shall be entitled to one (1), and only one (1), vote on each matter submitted to a vote at a meeting of the members, but voting by mail or proxy may be provided for in the bylaws. Notwithstanding, the bylaws may require each member to vote in person on certain matters.

(f) (1) Unless the bylaws prescribe the presence of a greater percentage of the number of members for a quorum, a quorum for the transaction of business at all meetings of the members of the cooperative shall be ten percent (10%) of all members, and, of a cooperative having more than five hundred (500) members, a quorum shall be not fewer than fifty (50) members. However, in the event a cooperative is unable to attain a quorum at its annual meeting, the board of directors in the next annual meeting or in a notice of special meeting may declare that the number of members present at the meeting shall constitute a quorum for the purpose of conducting business. (2) If less than a quorum is present at any meeting, a majority of those present in person or by proxy may adjourn the meeting from time to time without further notice.

(1) Unless the bylaws prescribe the presence of a greater percentage of the number of members for a quorum, a quorum for the transaction of business at all meetings of the members of the cooperative shall be ten percent (10%) of all members, and, of a cooperative having more than five hundred (500) members, a quorum shall be not fewer than fifty (50) members. However, in the event a cooperative is unable to attain a quorum at its annual meeting, the board of directors in the next annual meeting or in a notice of special meeting may declare that the number of members present at the meeting shall constitute a quorum for the purpose of conducting business.

(2) If less than a quorum is present at any meeting, a majority of those present in person or by proxy may adjourn the meeting from time to time without further notice.

Acts 1951, No. 51, §§ 14-17; A.S.A. 1947, §§ 77-1614 -- 77-1617; Acts 1989, No. 437, § 11; 1997, No. 316, § 7; 1999, No. 946, §§ 5, 6.
Ark. Code Ann. § 23-90-107 — AR Code / Title 23 / Chapter 90 / Section 23-90-107
Arkansas Property and Casualty Advisory Association - Procedures
Status: in_force

(a) The State Insurance Department shall promulgate reasonable organizational rules for the Arkansas Property and Casualty Advisory Association which shall set forth, among other things, quorum and attendance requirements for meetings, procedural rules to be followed at advisory association meetings, and rules concerning the replacement of members. (b) (1) The advisory association shall conduct its meetings in Little Rock, Arkansas, in the office of the Insurance Commissioner. (2) Meetings shall be held upon call by the commissioner or upon written request of a majority of the members. (3) Meetings shall not be open to the public. Only members of the advisory association, the commissioner, and persons authorized by the commissioner shall attend the meetings. Acts 1977, No. 871, § 14; 1983, No. 522, § 39; A.S.A. 1947, § 66-5514.

(a) The State Insurance Department shall promulgate reasonable organizational rules for the Arkansas Property and Casualty Advisory Association which shall set forth, among other things, quorum and attendance requirements for meetings, procedural rules to be followed at advisory association meetings, and rules concerning the replacement of members.

(b) (1) The advisory association shall conduct its meetings in Little Rock, Arkansas, in the office of the Insurance Commissioner. (2) Meetings shall be held upon call by the commissioner or upon written request of a majority of the members. (3) Meetings shall not be open to the public. Only members of the advisory association, the commissioner, and persons authorized by the commissioner shall attend the meetings.

(1) The advisory association shall conduct its meetings in Little Rock, Arkansas, in the office of the Insurance Commissioner.

(2) Meetings shall be held upon call by the commissioner or upon written request of a majority of the members.

(3) Meetings shall not be open to the public. Only members of the advisory association, the commissioner, and persons authorized by the commissioner shall attend the meetings.

Acts 1977, No. 871, § 14; 1983, No. 522, § 39; A.S.A. 1947, § 66-5514.
Ark. Code Ann. § 23-4-110 — AR Code / Title 23 / Chapter 4 / Subchapter 1 / Section 23-4-110
Changes in rates under Acts 1919, No. 571, and Acts 1921, No. 124
Status: in_force

(a) (1) No person, firm, or corporation subject to the provisions of this act shall modify, change, cancel, or annul any rate, joint rates, fares, classifications, charges, or rentals except after thirty (30) days' notice to the public and to the municipal council or city commission, as the case may be, depending on the utility affected and the action proposed. (2) The notice shall plainly state the changes proposed to be made in the schedule then in force and the time when the changed rates, fares, or charges shall go into effect. (b) The particular regulatory body having jurisdiction of the matter under this act may enter an order prohibiting such a person, firm, or corporation from putting the proposed new rates into effect pending hearing and final decision of the matter by the regulatory body. (c) (1) Whenever there is filed with the regulatory body any schedule proposing a change in any rates, charges, or rules, the regulatory body shall have authority, either upon complaint or upon its own initiative, and upon reasonable notice, to enter upon a hearing concerning the propriety of the rate, charge, or rule. (2) Pending the hearing and the decision thereon, the regulatory body, upon filing of the schedule or after the schedule should be filed, and upon delivering to the carriers or public service corporations affected thereby a statement in writing of its reasons for such a suspension, may suspend the operation of the schedule and defer the use of the rate or charge. (3) After a full hearing, whether completed before or after the rate, charge, or rule goes into effect, the regulatory body may make such orders in reference to the rate, fare, charge, or rule as shall be deemed proper and just. Amended by Act 2019, No. 315,§ 2391, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2390, eff. 7/24/2019. Acts 1919, No. 571, § 7; C. & M. Dig., § 1612; Acts 1921, No. 10, § 1; 1921, No. 124, § 5; Pope's Dig., §§ 1937, 2004; A.S.A. 1947, § 73-117.

(a) (1) No person, firm, or corporation subject to the provisions of this act shall modify, change, cancel, or annul any rate, joint rates, fares, classifications, charges, or rentals except after thirty (30) days' notice to the public and to the municipal council or city commission, as the case may be, depending on the utility affected and the action proposed. (2) The notice shall plainly state the changes proposed to be made in the schedule then in force and the time when the changed rates, fares, or charges shall go into effect.

(1) No person, firm, or corporation subject to the provisions of this act shall modify, change, cancel, or annul any rate, joint rates, fares, classifications, charges, or rentals except after thirty (30) days' notice to the public and to the municipal council or city commission, as the case may be, depending on the utility affected and the action proposed.

(2) The notice shall plainly state the changes proposed to be made in the schedule then in force and the time when the changed rates, fares, or charges shall go into effect.

(b) The particular regulatory body having jurisdiction of the matter under this act may enter an order prohibiting such a person, firm, or corporation from putting the proposed new rates into effect pending hearing and final decision of the matter by the regulatory body.

(c) (1) Whenever there is filed with the regulatory body any schedule proposing a change in any rates, charges, or rules, the regulatory body shall have authority, either upon complaint or upon its own initiative, and upon reasonable notice, to enter upon a hearing concerning the propriety of the rate, charge, or rule. (2) Pending the hearing and the decision thereon, the regulatory body, upon filing of the schedule or after the schedule should be filed, and upon delivering to the carriers or public service corporations affected thereby a statement in writing of its reasons for such a suspension, may suspend the operation of the schedule and defer the use of the rate or charge. (3) After a full hearing, whether completed before or after the rate, charge, or rule goes into effect, the regulatory body may make such orders in reference to the rate, fare, charge, or rule as shall be deemed proper and just.

(1) Whenever there is filed with the regulatory body any schedule proposing a change in any rates, charges, or rules, the regulatory body shall have authority, either upon complaint or upon its own initiative, and upon reasonable notice, to enter upon a hearing concerning the propriety of the rate, charge, or rule.

(2) Pending the hearing and the decision thereon, the regulatory body, upon filing of the schedule or after the schedule should be filed, and upon delivering to the carriers or public service corporations affected thereby a statement in writing of its reasons for such a suspension, may suspend the operation of the schedule and defer the use of the rate or charge.

(3) After a full hearing, whether completed before or after the rate, charge, or rule goes into effect, the regulatory body may make such orders in reference to the rate, fare, charge, or rule as shall be deemed proper and just.

Amended by Act 2019, No. 315,§ 2391, eff. 7/24/2019.

Amended by Act 2019, No. 315,§ 2390, eff. 7/24/2019.

Acts 1919, No. 571, § 7; C. & M. Dig., § 1612; Acts 1921, No. 10, § 1; 1921, No. 124, § 5; Pope's Dig., §§ 1937, 2004; A.S.A. 1947, § 73-117.
Ark. Code Ann. § 23-4-635 — AR Code / Title 23 / Chapter 4 / Subchapter 6 / Section 23-4-635
Changes in rates by common carriers
Status: in_force

(a) No change shall be made in the rates, fares, and charges or joint rates, fares, and charges that have been filed with the Arkansas Department of Transportation and published by any common carrier in compliance with the requirements of § 23-4-110 except after thirty (30) days' notice to the department and to the public. (b) The notice shall plainly state the changes proposed to be made in the schedule then in force and the time when the changed rates, fares, or charges will go into effect. (c) The proposed changes shall be shown by printing a new schedule or shall be plainly indicated upon the schedules in force at the time and kept open to public inspection. (d) The department, in its discretion and for good cause shown, may allow changes upon less notice than specified in this section or modify the requirements of this section in respect to publishing, posting, and filing of tariffs, either in particular instances or by general order applicable to special or peculiar circumstances or conditions. (e) The department is authorized to make suitable rules and regulations for the simplification of schedules of rates, fares, charges, and classifications and to permit, in the rules and regulations, the filing of an amendment of or change in any rate, fare, charge, or classification without filing a complete schedule covering rates, fares, charges, or classifications not changed, if, in its judgment, it is not inconsistent with the public interest. Amended by Act 2017, No. 707,§ 132, eff. 8/1/2017. Acts 1937, No. 133, § 1; Pope's Dig., § 2128; A.S.A. 1947, § 73-118.

(a) No change shall be made in the rates, fares, and charges or joint rates, fares, and charges that have been filed with the Arkansas Department of Transportation and published by any common carrier in compliance with the requirements of § 23-4-110 except after thirty (30) days' notice to the department and to the public.

(b) The notice shall plainly state the changes proposed to be made in the schedule then in force and the time when the changed rates, fares, or charges will go into effect.

(c) The proposed changes shall be shown by printing a new schedule or shall be plainly indicated upon the schedules in force at the time and kept open to public inspection.

(d) The department, in its discretion and for good cause shown, may allow changes upon less notice than specified in this section or modify the requirements of this section in respect to publishing, posting, and filing of tariffs, either in particular instances or by general order applicable to special or peculiar circumstances or conditions.

(e) The department is authorized to make suitable rules and regulations for the simplification of schedules of rates, fares, charges, and classifications and to permit, in the rules and regulations, the filing of an amendment of or change in any rate, fare, charge, or classification without filing a complete schedule covering rates, fares, charges, or classifications not changed, if, in its judgment, it is not inconsistent with the public interest.

Amended by Act 2017, No. 707,§ 132, eff. 8/1/2017.

Acts 1937, No. 133, § 1; Pope's Dig., § 2128; A.S.A. 1947, § 73-118.
Ark. Code Ann. § 23-110-409 — AR Code / Title 23 / Chapter 110 / Subchapter 4 / Section 23-110-409
Disposition of wagering money - Arkansas Racing Commission Purse and Awards Fund
Status: in_force

(a) The Arkansas Racing Commission Purse and Awards Fund shall be deposited by the Arkansas Racing Commission in such banks as the commission shall determine. (b) (1) In order to promote and encourage the development of thoroughbred horse breeding in Arkansas with its attendant economic benefits to the state and its citizens, moneys in the fund are classified as special revenues and shall be disbursed by the commission for purse supplements and breeders' awards in accordance with a written program prepared and presented to it by the Arkansas Thoroughbred Breeders' and Horsemen's Association. (2) Breeders' awards may include awards to owners of registered Arkansas-bred thoroughbred horses, owners of registered Arkansas thoroughbred broodmares, and owners of registered Arkansas thoroughbred stallions. (3) Registered Arkansas-bred thoroughbred horses, registered Arkansas thoroughbred broodmare, registered Arkansas thoroughbred stallion, foal registration, broodmare registration and stallion registration, eligibility to participate in the fund, and eligibility to participate in races that are restricted to registered Arkansas-bred thoroughbred horses shall be determined and made in accordance with registration rules, including reasonable time deadlines and fee schedules, adopted by the Arkansas Thoroughbred Breeders' and Horsemen's Association and approved by the commission. (c) The franchise holder shall be solely responsible for writing the various races for each racing meet. Amended by Act 2019, No. 315,§ 2817, eff. 7/24/2019. Acts 1957, No. 46, § 23; 1967, No. 130, § 3; 1983, No. 251, §§ 2, 3; A.S.A. 1947, § 84-2749; Acts 1988 (3rd Ex. Sess.), No. 14, § 1; 1989, No. 12, § 4.

(a) The Arkansas Racing Commission Purse and Awards Fund shall be deposited by the Arkansas Racing Commission in such banks as the commission shall determine.

(b) (1) In order to promote and encourage the development of thoroughbred horse breeding in Arkansas with its attendant economic benefits to the state and its citizens, moneys in the fund are classified as special revenues and shall be disbursed by the commission for purse supplements and breeders' awards in accordance with a written program prepared and presented to it by the Arkansas Thoroughbred Breeders' and Horsemen's Association. (2) Breeders' awards may include awards to owners of registered Arkansas-bred thoroughbred horses, owners of registered Arkansas thoroughbred broodmares, and owners of registered Arkansas thoroughbred stallions. (3) Registered Arkansas-bred thoroughbred horses, registered Arkansas thoroughbred broodmare, registered Arkansas thoroughbred stallion, foal registration, broodmare registration and stallion registration, eligibility to participate in the fund, and eligibility to participate in races that are restricted to registered Arkansas-bred thoroughbred horses shall be determined and made in accordance with registration rules, including reasonable time deadlines and fee schedules, adopted by the Arkansas Thoroughbred Breeders' and Horsemen's Association and approved by the commission.

(1) In order to promote and encourage the development of thoroughbred horse breeding in Arkansas with its attendant economic benefits to the state and its citizens, moneys in the fund are classified as special revenues and shall be disbursed by the commission for purse supplements and breeders' awards in accordance with a written program prepared and presented to it by the Arkansas Thoroughbred Breeders' and Horsemen's Association.

(2) Breeders' awards may include awards to owners of registered Arkansas-bred thoroughbred horses, owners of registered Arkansas thoroughbred broodmares, and owners of registered Arkansas thoroughbred stallions.

(3) Registered Arkansas-bred thoroughbred horses, registered Arkansas thoroughbred broodmare, registered Arkansas thoroughbred stallion, foal registration, broodmare registration and stallion registration, eligibility to participate in the fund, and eligibility to participate in races that are restricted to registered Arkansas-bred thoroughbred horses shall be determined and made in accordance with registration rules, including reasonable time deadlines and fee schedules, adopted by the Arkansas Thoroughbred Breeders' and Horsemen's Association and approved by the commission.

(c) The franchise holder shall be solely responsible for writing the various races for each racing meet.

Amended by Act 2019, No. 315,§ 2817, eff. 7/24/2019.

Acts 1957, No. 46, § 23; 1967, No. 130, § 3; 1983, No. 251, §§ 2, 3; A.S.A. 1947, § 84-2749; Acts 1988 (3rd Ex. Sess.), No. 14, § 1; 1989, No. 12, § 4.
Ark. Code Ann. § 23-48-909 — AR Code / Title 23 / Chapter 48 / Subchapter 9 / Section 23-48-909
Rules
Status: in_force

The Bank Commissioner, with the approval of the State Banking Board, may promulgate rules that he or she determines to be necessary or appropriate in order to implement the provisions of this subchapter. Amended by Act 2019, No. 315,§ 2554, eff. 7/24/2019. Acts 1997, No. 408, § 20.

The Bank Commissioner, with the approval of the State Banking Board, may promulgate rules that he or she determines to be necessary or appropriate in order to implement the provisions of this subchapter.

Amended by Act 2019, No. 315,§ 2554, eff. 7/24/2019.

Acts 1997, No. 408, § 20.
Ark. Code Ann. § 23-70-109 — AR Code / Title 23 / Chapter 70 / Section 23-70-109
Modifications
Status: in_force

(a) Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. (b) No modification shall be effective retroactively, nor as to any insurance contract issued prior thereto. Acts 1959, No. 148, § 520; A.S.A. 1947, § 66-4311.

(a) Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee.

(b) No modification shall be effective retroactively, nor as to any insurance contract issued prior thereto.

Acts 1959, No. 148, § 520; A.S.A. 1947, § 66-4311.
Ark. Code Ann. § 23-119-104 — AR Code / Title 23 / Chapter 119 / Section 23-119-104
Rules
Status: in_force

The Oil and Gas Commission shall promulgate rules to implement this chapter, including without limitation rules establishing requirements for: (1) Permitting; (2) Application for a permit; (3) Renewal of a permit; (4) The requirements and terms for a permit; and (5) The establishment and operation of a digital asset mining business. Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.

The Oil and Gas Commission shall promulgate rules to implement this chapter, including without limitation rules establishing requirements for:

(1) Permitting;

(2) Application for a permit;

(3) Renewal of a permit;

(4) The requirements and terms for a permit; and

(5) The establishment and operation of a digital asset mining business.

Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Ark. Code Ann. § 23-115-901 — AR Code / Title 23 / Chapter 115 / Subchapter 9 / Section 23-115-901
Sale of ticket or share to person under 18 years of age prohibited - Penalty
Status: in_force

(a) A retailer who knowingly sells a ticket or share to a person under eighteen (18) years of age or permits a person under eighteen (18) years of age to play a lottery is guilty of a violation and subject to the following penalties: (1) A fine not to exceed two hundred fifty dollars ($250) for a first violation; (2) For a second violation within a forty-eight-month period: (A) A fine not to exceed five hundred dollars ($500); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed two (2) days; (3) For a third violation within a forty-eight-month period: (A) A fine not to exceed one thousand dollars ($1,000); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed seven (7) days; (4) For a fourth or subsequent violation within a forty-eight-month period: (A) A fine not to exceed two thousand dollars ($2,000); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed fourteen (14) days; and (5) For a fifth or subsequent violation within a forty-eight-month period, the retailer license issued under § 23-115-601 et seq. may be revoked. (b) An employee of a retailer who violates this section is subject to a fine not to exceed one hundred dollars ($100) per violation. (c) It is an affirmative defense to a prosecution under this section that the retailer reasonably and in good faith relied upon representation of proof of age in making the sale. (d) A person convicted of violating any provision of this section whose retailer license is suspended or revoked upon conviction shall surrender to the court his or her retailer license, and the court shall transmit the retailer license to the Office of the Arkansas Lottery and instruct the office: (1) To suspend or revoke the person's retailer license or to not renew the license; and (2) Not to issue any new retailer license to that person for the period of time determined by the court in accordance with this section. Amended by Act 2017, No. 334,§ 11, eff. 8/1/2017. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) A retailer who knowingly sells a ticket or share to a person under eighteen (18) years of age or permits a person under eighteen (18) years of age to play a lottery is guilty of a violation and subject to the following penalties: (1) A fine not to exceed two hundred fifty dollars ($250) for a first violation; (2) For a second violation within a forty-eight-month period: (A) A fine not to exceed five hundred dollars ($500); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed two (2) days; (3) For a third violation within a forty-eight-month period: (A) A fine not to exceed one thousand dollars ($1,000); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed seven (7) days; (4) For a fourth or subsequent violation within a forty-eight-month period: (A) A fine not to exceed two thousand dollars ($2,000); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed fourteen (14) days; and (5) For a fifth or subsequent violation within a forty-eight-month period, the retailer license issued under § 23-115-601 et seq. may be revoked.

(1) A fine not to exceed two hundred fifty dollars ($250) for a first violation;

(2) For a second violation within a forty-eight-month period: (A) A fine not to exceed five hundred dollars ($500); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed two (2) days;

(A) A fine not to exceed five hundred dollars ($500); and

(B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed two (2) days;

(3) For a third violation within a forty-eight-month period: (A) A fine not to exceed one thousand dollars ($1,000); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed seven (7) days;

(A) A fine not to exceed one thousand dollars ($1,000); and

(B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed seven (7) days;

(4) For a fourth or subsequent violation within a forty-eight-month period: (A) A fine not to exceed two thousand dollars ($2,000); and (B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed fourteen (14) days; and

(A) A fine not to exceed two thousand dollars ($2,000); and

(B) Suspension of the retailer license issued under § 23-115-601 et seq. for a period not to exceed fourteen (14) days; and

(5) For a fifth or subsequent violation within a forty-eight-month period, the retailer license issued under § 23-115-601 et seq. may be revoked.

(b) An employee of a retailer who violates this section is subject to a fine not to exceed one hundred dollars ($100) per violation.

(c) It is an affirmative defense to a prosecution under this section that the retailer reasonably and in good faith relied upon representation of proof of age in making the sale.

(d) A person convicted of violating any provision of this section whose retailer license is suspended or revoked upon conviction shall surrender to the court his or her retailer license, and the court shall transmit the retailer license to the Office of the Arkansas Lottery and instruct the office: (1) To suspend or revoke the person's retailer license or to not renew the license; and (2) Not to issue any new retailer license to that person for the period of time determined by the court in accordance with this section.

(1) To suspend or revoke the person's retailer license or to not renew the license; and

(2) Not to issue any new retailer license to that person for the period of time determined by the court in accordance with this section.

Amended by Act 2017, No. 334,§ 11, eff. 8/1/2017.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-42-405 — AR Code / Title 23 / Chapter 42 / Subchapter 4 / Section 23-42-405
Stop order denying, suspending, or revoking registration statement
Status: in_force

(a) The Securities Commissioner may issue a stop order denying effectiveness to, or suspending or revoking the effectiveness of, any registration statement if he or she finds that: (1) The order is in the public interest; and (2) (A) The registration statement is incomplete in any material respect or contains any statement that was, in the light of the circumstances under which it was made, false or misleading with respect to any material fact as of the effective date of: (i) The registration statement or an earlier date from an order denying the effective date of the registration statement; (ii) An amendment under § 23-42-404(n) ; or (iii) A report under § 23-42-404(m) ; (B) Any provision of this chapter or any rule, order, or condition lawfully imposed under this chapter has been willfully violated, in connection with the offering, by: (i) The person filing the registration statement; (ii) The issuer, any partner, officer, or director of the issuer, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling or controlled by the issuer, but only if the person filing the registration statement is directly or indirectly controlled by or acting for the issuer; or (iii) Any underwriter; (C) The security registered or sought to be registered is the subject of an administrative stop order or similar order or a permanent or temporary injunction of a court of competent jurisdiction entered under any other federal or state act applicable to the offering, but: (i) The commissioner shall not institute a proceeding against an effective registration statement under this subdivision (a)(2)(C) more than one (1) year from the date of the order or injunction relied on; and (ii) The commissioner shall not enter an order under this subdivision (a)(2)(C) on the basis of an order or injunction entered under another state act unless that order or injunction was based on facts that would currently constitute grounds for a stop order under this section; (D) The issuer's enterprise or method of business includes or would include activities which are illegal where performed; (E) The offering has worked or tended to work a fraud upon purchasers or would so operate, or any aspect of the offering is substantially unfair, unjust, inequitable, or oppressive; (F) The offering has been or would be made with unreasonable amounts of underwriters' and sellers' discounts, commissions, or other compensation, unreasonable amounts of promoters' profits or participation, or unreasonable amounts or kinds of options; (G) When a security is sought to be registered by notification, it is not eligible for such a registration; (H) When a security is sought to be registered by coordination, there has been a failure to comply with the undertaking required by § 23-42-402(b)(4) ; or (I) The applicant or registrant has failed to pay the proper filing fee. The commissioner may enter only a denial order under this subdivision (a)(2)(I), and he or she shall vacate any such order when the deficiency has been corrected. (b) The commissioner may not institute a stop order proceeding against an effective registration statement on the basis of a fact or transaction known to him or her when the registration statement became effective unless the proceeding is instituted within the next thirty (30) days. (c) (1) The commissioner may, by order, summarily postpone or suspend the effectiveness of the registration statement pending final determination of any proceeding under this section. (2) Upon the entry of the order, the commissioner shall promptly notify each person specified in subsection (d) of this section that it has been entered and the reasons therefor and that within fifteen (15) days after the receipt of a written request the matter will be set down for hearing. (3) If no hearing is requested and none is ordered by the commissioner, the order will remain in effect until it is modified or vacated by the commissioner. If a hearing is requested or ordered, the commissioner, after notice of an opportunity for hearing to each person specified in subsection (d) of this section, may modify or vacate the order or extend it until final determination. (4) In the case of a registration by coordination pursuant to § 23-42-402 , the commissioner may accept a waiver of concurrent effectiveness submitted by the issuer, without the necessity of the entry of an order to summarily postpone effectiveness. (d) No stop order may be entered under any part of this section except subdivision (c)(1) of this section without: (1) Appropriate prior notice to the applicant or registrant, the issuer, and the person on whose behalf the securities are to be or have been offered; (2) Opportunity for hearing; and (3) Written findings of fact and conclusions of law. (e) The commissioner may vacate or modify a stop order if he or she finds that the conditions which prompted its entry have changed or that it is otherwise in the public interest to do so. Acts 1959, No. 254, § 12; 1971, No. 131, §§ 2, 3; 1985, No. 939, § 4; A.S.A. 1947, § 67-1246; Acts 1995, No. 845, § 24; 2011, No. 339, §§ 12, 13.

(a) The Securities Commissioner may issue a stop order denying effectiveness to, or suspending or revoking the effectiveness of, any registration statement if he or she finds that: (1) The order is in the public interest; and (2) (A) The registration statement is incomplete in any material respect or contains any statement that was, in the light of the circumstances under which it was made, false or misleading with respect to any material fact as of the effective date of: (i) The registration statement or an earlier date from an order denying the effective date of the registration statement; (ii) An amendment under § 23-42-404(n) ; or (iii) A report under § 23-42-404(m) ; (B) Any provision of this chapter or any rule, order, or condition lawfully imposed under this chapter has been willfully violated, in connection with the offering, by: (i) The person filing the registration statement; (ii) The issuer, any partner, officer, or director of the issuer, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling or controlled by the issuer, but only if the person filing the registration statement is directly or indirectly controlled by or acting for the issuer; or (iii) Any underwriter; (C) The security registered or sought to be registered is the subject of an administrative stop order or similar order or a permanent or temporary injunction of a court of competent jurisdiction entered under any other federal or state act applicable to the offering, but: (i) The commissioner shall not institute a proceeding against an effective registration statement under this subdivision (a)(2)(C) more than one (1) year from the date of the order or injunction relied on; and (ii) The commissioner shall not enter an order under this subdivision (a)(2)(C) on the basis of an order or injunction entered under another state act unless that order or injunction was based on facts that would currently constitute grounds for a stop order under this section; (D) The issuer's enterprise or method of business includes or would include activities which are illegal where performed; (E) The offering has worked or tended to work a fraud upon purchasers or would so operate, or any aspect of the offering is substantially unfair, unjust, inequitable, or oppressive; (F) The offering has been or would be made with unreasonable amounts of underwriters' and sellers' discounts, commissions, or other compensation, unreasonable amounts of promoters' profits or participation, or unreasonable amounts or kinds of options; (G) When a security is sought to be registered by notification, it is not eligible for such a registration; (H) When a security is sought to be registered by coordination, there has been a failure to comply with the undertaking required by § 23-42-402(b)(4) ; or (I) The applicant or registrant has failed to pay the proper filing fee. The commissioner may enter only a denial order under this subdivision (a)(2)(I), and he or she shall vacate any such order when the deficiency has been corrected.

(1) The order is in the public interest; and

(2) (A) The registration statement is incomplete in any material respect or contains any statement that was, in the light of the circumstances under which it was made, false or misleading with respect to any material fact as of the effective date of: (i) The registration statement or an earlier date from an order denying the effective date of the registration statement; (ii) An amendment under § 23-42-404(n) ; or (iii) A report under § 23-42-404(m) ; (B) Any provision of this chapter or any rule, order, or condition lawfully imposed under this chapter has been willfully violated, in connection with the offering, by: (i) The person filing the registration statement; (ii) The issuer, any partner, officer, or director of the issuer, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling or controlled by the issuer, but only if the person filing the registration statement is directly or indirectly controlled by or acting for the issuer; or (iii) Any underwriter; (C) The security registered or sought to be registered is the subject of an administrative stop order or similar order or a permanent or temporary injunction of a court of competent jurisdiction entered under any other federal or state act applicable to the offering, but: (i) The commissioner shall not institute a proceeding against an effective registration statement under this subdivision (a)(2)(C) more than one (1) year from the date of the order or injunction relied on; and (ii) The commissioner shall not enter an order under this subdivision (a)(2)(C) on the basis of an order or injunction entered under another state act unless that order or injunction was based on facts that would currently constitute grounds for a stop order under this section; (D) The issuer's enterprise or method of business includes or would include activities which are illegal where performed; (E) The offering has worked or tended to work a fraud upon purchasers or would so operate, or any aspect of the offering is substantially unfair, unjust, inequitable, or oppressive; (F) The offering has been or would be made with unreasonable amounts of underwriters' and sellers' discounts, commissions, or other compensation, unreasonable amounts of promoters' profits or participation, or unreasonable amounts or kinds of options; (G) When a security is sought to be registered by notification, it is not eligible for such a registration; (H) When a security is sought to be registered by coordination, there has been a failure to comply with the undertaking required by § 23-42-402(b)(4) ; or (I) The applicant or registrant has failed to pay the proper filing fee. The commissioner may enter only a denial order under this subdivision (a)(2)(I), and he or she shall vacate any such order when the deficiency has been corrected.

(A) The registration statement is incomplete in any material respect or contains any statement that was, in the light of the circumstances under which it was made, false or misleading with respect to any material fact as of the effective date of: (i) The registration statement or an earlier date from an order denying the effective date of the registration statement; (ii) An amendment under § 23-42-404(n) ; or (iii) A report under § 23-42-404(m) ;

(i) The registration statement or an earlier date from an order denying the effective date of the registration statement;

(ii) An amendment under § 23-42-404(n) ; or

(iii) A report under § 23-42-404(m) ;

(B) Any provision of this chapter or any rule, order, or condition lawfully imposed under this chapter has been willfully violated, in connection with the offering, by: (i) The person filing the registration statement; (ii) The issuer, any partner, officer, or director of the issuer, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling or controlled by the issuer, but only if the person filing the registration statement is directly or indirectly controlled by or acting for the issuer; or (iii) Any underwriter;

(i) The person filing the registration statement;

(ii) The issuer, any partner, officer, or director of the issuer, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling or controlled by the issuer, but only if the person filing the registration statement is directly or indirectly controlled by or acting for the issuer; or

(iii) Any underwriter;

(C) The security registered or sought to be registered is the subject of an administrative stop order or similar order or a permanent or temporary injunction of a court of competent jurisdiction entered under any other federal or state act applicable to the offering, but: (i) The commissioner shall not institute a proceeding against an effective registration statement under this subdivision (a)(2)(C) more than one (1) year from the date of the order or injunction relied on; and (ii) The commissioner shall not enter an order under this subdivision (a)(2)(C) on the basis of an order or injunction entered under another state act unless that order or injunction was based on facts that would currently constitute grounds for a stop order under this section;

(i) The commissioner shall not institute a proceeding against an effective registration statement under this subdivision (a)(2)(C) more than one (1) year from the date of the order or injunction relied on; and

(ii) The commissioner shall not enter an order under this subdivision (a)(2)(C) on the basis of an order or injunction entered under another state act unless that order or injunction was based on facts that would currently constitute grounds for a stop order under this section;

(D) The issuer's enterprise or method of business includes or would include activities which are illegal where performed;

(E) The offering has worked or tended to work a fraud upon purchasers or would so operate, or any aspect of the offering is substantially unfair, unjust, inequitable, or oppressive;

(F) The offering has been or would be made with unreasonable amounts of underwriters' and sellers' discounts, commissions, or other compensation, unreasonable amounts of promoters' profits or participation, or unreasonable amounts or kinds of options;

(G) When a security is sought to be registered by notification, it is not eligible for such a registration;

(H) When a security is sought to be registered by coordination, there has been a failure to comply with the undertaking required by § 23-42-402(b)(4) ; or

(I) The applicant or registrant has failed to pay the proper filing fee. The commissioner may enter only a denial order under this subdivision (a)(2)(I), and he or she shall vacate any such order when the deficiency has been corrected.

(b) The commissioner may not institute a stop order proceeding against an effective registration statement on the basis of a fact or transaction known to him or her when the registration statement became effective unless the proceeding is instituted within the next thirty (30) days.

(c) (1) The commissioner may, by order, summarily postpone or suspend the effectiveness of the registration statement pending final determination of any proceeding under this section. (2) Upon the entry of the order, the commissioner shall promptly notify each person specified in subsection (d) of this section that it has been entered and the reasons therefor and that within fifteen (15) days after the receipt of a written request the matter will be set down for hearing. (3) If no hearing is requested and none is ordered by the commissioner, the order will remain in effect until it is modified or vacated by the commissioner. If a hearing is requested or ordered, the commissioner, after notice of an opportunity for hearing to each person specified in subsection (d) of this section, may modify or vacate the order or extend it until final determination. (4) In the case of a registration by coordination pursuant to § 23-42-402 , the commissioner may accept a waiver of concurrent effectiveness submitted by the issuer, without the necessity of the entry of an order to summarily postpone effectiveness.

(1) The commissioner may, by order, summarily postpone or suspend the effectiveness of the registration statement pending final determination of any proceeding under this section.

(2) Upon the entry of the order, the commissioner shall promptly notify each person specified in subsection (d) of this section that it has been entered and the reasons therefor and that within fifteen (15) days after the receipt of a written request the matter will be set down for hearing.

(3) If no hearing is requested and none is ordered by the commissioner, the order will remain in effect until it is modified or vacated by the commissioner. If a hearing is requested or ordered, the commissioner, after notice of an opportunity for hearing to each person specified in subsection (d) of this section, may modify or vacate the order or extend it until final determination.

(4) In the case of a registration by coordination pursuant to § 23-42-402 , the commissioner may accept a waiver of concurrent effectiveness submitted by the issuer, without the necessity of the entry of an order to summarily postpone effectiveness.

(d) No stop order may be entered under any part of this section except subdivision (c)(1) of this section without: (1) Appropriate prior notice to the applicant or registrant, the issuer, and the person on whose behalf the securities are to be or have been offered; (2) Opportunity for hearing; and (3) Written findings of fact and conclusions of law.

(1) Appropriate prior notice to the applicant or registrant, the issuer, and the person on whose behalf the securities are to be or have been offered;

(2) Opportunity for hearing; and

(3) Written findings of fact and conclusions of law.

(e) The commissioner may vacate or modify a stop order if he or she finds that the conditions which prompted its entry have changed or that it is otherwise in the public interest to do so.

Acts 1959, No. 254, § 12; 1971, No. 131, §§ 2, 3; 1985, No. 939, § 4; A.S.A. 1947, § 67-1246; Acts 1995, No. 845, § 24; 2011, No. 339, §§ 12, 13.
Ark. Code Ann. § 23-40-126 — AR Code / Title 23 / Chapter 40 / Section 23-40-126
Unfair competition or unfair or deceptive acts or practices prohibited - Penalties
Status: in_force

An unfair method of competition or an unfair or deceptive act or practice under §§ 23-66-206(1) -(4), 23-66-206(6) -(8), and 23-66-207 - 23-66-213 in the sale of a prepaid funeral benefits contract is a violation of this chapter and may be punished under this chapter or the Trade Practices Act, § 23-66-201 et seq. Acts 2009, No. 538, § 1.

An unfair method of competition or an unfair or deceptive act or practice under §§ 23-66-206(1) -(4), 23-66-206(6) -(8), and 23-66-207 - 23-66-213 in the sale of a prepaid funeral benefits contract is a violation of this chapter and may be punished under this chapter or the Trade Practices Act, § 23-66-201 et seq.

Acts 2009, No. 538, § 1.
Ark. Code Ann. § 23-85-103 — AR Code / Title 23 / Chapter 85 / Section 23-85-103
Third party ownership
Status: in_force

The word "insured" as used in this section and §§ 23-85-101 , 23-85-102 , and 23-85-104 - 23-85-131 shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits, and rights provided therein. Acts 1959, No. 148, § 414; A.S.A. 1947, § 66-3629.

The word "insured" as used in this section and §§ 23-85-101 , 23-85-102 , and 23-85-104 - 23-85-131 shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits, and rights provided therein.

Acts 1959, No. 148, § 414; A.S.A. 1947, § 66-3629.
Ark. Code Ann. § 23-93-102 — AR Code / Title 23 / Chapter 93 / Subchapter 1 / Section 23-93-102
Legislative intent - Applicability
Status: in_force

(a) The General Assembly recognizes that continuing care communities have become an important and necessary alternative for the long-term residential, social, and health maintenance needs for many of the state's elderly citizens. (b) The General Assembly recognizes the need for full disclosure of important facts to an appropriate regulatory agency of the state. Accordingly, the General Assembly has determined that continuing care facilities should be regulated in accordance with the provisions of this subchapter. (c) (1) The provisions of this subchapter apply equally to for-profit and not-for-profit provider organizations. (2) The provisions of this subchapter shall be the minimum requirements to be imposed upon any person, association, or organization offering or providing continuing care as set forth in this subchapter. (3) This subchapter shall not apply to facilities duly authorized and licensed by the State of Arkansas as long-term care facilities providing nursing care. Acts 1987, No. 329, § 2.

(a) The General Assembly recognizes that continuing care communities have become an important and necessary alternative for the long-term residential, social, and health maintenance needs for many of the state's elderly citizens.

(b) The General Assembly recognizes the need for full disclosure of important facts to an appropriate regulatory agency of the state. Accordingly, the General Assembly has determined that continuing care facilities should be regulated in accordance with the provisions of this subchapter.

(c) (1) The provisions of this subchapter apply equally to for-profit and not-for-profit provider organizations. (2) The provisions of this subchapter shall be the minimum requirements to be imposed upon any person, association, or organization offering or providing continuing care as set forth in this subchapter. (3) This subchapter shall not apply to facilities duly authorized and licensed by the State of Arkansas as long-term care facilities providing nursing care.

(1) The provisions of this subchapter apply equally to for-profit and not-for-profit provider organizations.

(2) The provisions of this subchapter shall be the minimum requirements to be imposed upon any person, association, or organization offering or providing continuing care as set forth in this subchapter.

(3) This subchapter shall not apply to facilities duly authorized and licensed by the State of Arkansas as long-term care facilities providing nursing care.

Acts 1987, No. 329, § 2.
Ark. Code Ann. § 23-55-605 — AR Code / Title 23 / Chapter 55 / Section 23-55-605
Records
Status: in_force

(a) A licensee shall maintain the following records for determining its compliance with this chapter for at least five years: (1) a record of each payment instrument, stored-value, virtual currency, or prepaid access obligation sold; (2) a general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts; (3) bank statements and bank reconciliation records; (4) records of outstanding payment instruments and stored-value and prepaid access obligations; (5) records of each payment instrument, stored-value, virtual currency, and prepaid access obligation paid within the five-year period; (6) a list of the last known names and addresses of all of the licensee's authorized delegates; and (7) any other records the commissioner reasonably requires by rule. (b) The items specified in subsection (a) may be maintained photographically, electronically, or in any other form of record allowed by the commissioner. (c) Records may be maintained outside this State if they are made accessible and available to the commissioner on seven business-days' notice that is sent in a record. (d) All records maintained by the licensee as required in subsections (a) through (c) are open to inspection by the commissioner pursuant to § 23-55-601 . Amended by Act 2023, No. 442,§ 8, eff. 8/1/2023. Amended by Act 2021, No. 532,§ 19, eff. 7/28/2021. Amended by Act 2013, No. 531,§ 7, eff. 8/16/2013. Acts 2007, No. 1595, § 1; 2009, No. 486, § 15.

(a) A licensee shall maintain the following records for determining its compliance with this chapter for at least five years: (1) a record of each payment instrument, stored-value, virtual currency, or prepaid access obligation sold; (2) a general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts; (3) bank statements and bank reconciliation records; (4) records of outstanding payment instruments and stored-value and prepaid access obligations; (5) records of each payment instrument, stored-value, virtual currency, and prepaid access obligation paid within the five-year period; (6) a list of the last known names and addresses of all of the licensee's authorized delegates; and (7) any other records the commissioner reasonably requires by rule.

(1) a record of each payment instrument, stored-value, virtual currency, or prepaid access obligation sold;

(2) a general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;

(3) bank statements and bank reconciliation records;

(4) records of outstanding payment instruments and stored-value and prepaid access obligations;

(5) records of each payment instrument, stored-value, virtual currency, and prepaid access obligation paid within the five-year period;

(6) a list of the last known names and addresses of all of the licensee's authorized delegates; and

(7) any other records the commissioner reasonably requires by rule.

(b) The items specified in subsection (a) may be maintained photographically, electronically, or in any other form of record allowed by the commissioner.

(c) Records may be maintained outside this State if they are made accessible and available to the commissioner on seven business-days' notice that is sent in a record.

(d) All records maintained by the licensee as required in subsections (a) through (c) are open to inspection by the commissioner pursuant to § 23-55-601 .

Amended by Act 2023, No. 442,§ 8, eff. 8/1/2023.

Amended by Act 2021, No. 532,§ 19, eff. 7/28/2021.

Amended by Act 2013, No. 531,§ 7, eff. 8/16/2013.

Acts 2007, No. 1595, § 1; 2009, No. 486, § 15.
Ark. Code Ann. § 23-110-406 — AR Code / Title 23 / Chapter 110 / Subchapter 4 / Section 23-110-406
Disposition of wagering money - Payment to winning bettors required - Exceptions
Status: in_force

(a) Excepting only the moneys retained for the use and benefit of the franchise holder, the amounts paid to the Arkansas Racing Commission for the use and benefit of the State of Arkansas, the amount paid to the commission for deposit into the Arkansas Racing Commission Purse and Awards Fund, and the amount paid to a city, town, or county as provided in this subchapter, all moneys received by the franchise holder from wagers pursuant to this subchapter shall be paid over to bettors holding winning pari-mutuel tickets in accordance with the provisions and at the times specified in the various race programs written by the franchise holder for the racing meet, as their respective interests may appear, upon presentation of those tickets. (b) However, all winning pari-mutuel tickets not presented to the franchise holder for redemption on or before the one hundred eightieth day next following the last racing day of each racing meet hereafter held shall be void. Of the moneys represented by void pari-mutuel tickets, the franchise holder shall forthwith distribute the proceeds as follows: (1) One-third (1/3) of the amount thereof shall be retained by the franchise holder for its own use and benefit; (2) One-third (1/3) of the amount thereof shall be paid to the commission for deposit in the State Treasury as general revenues; and (3) One-third (1/3) of the amount thereof shall be paid to the treasurer of the county in which the racing track is located for credit to the general fund of the county. Acts 1957, No. 46, § 23; 1965, No. 142, § 1; 1967, No. 130, § 3; 1973, No. 780, § 1; 1983, No. 251, §§ 2, 3; 1985 (1st Ex. Sess.), No. 27, §§ 2, 3; 1985 (1st Ex. Sess.), No. 36, § 2; A.S.A. 1947, § 84-2749.

(a) Excepting only the moneys retained for the use and benefit of the franchise holder, the amounts paid to the Arkansas Racing Commission for the use and benefit of the State of Arkansas, the amount paid to the commission for deposit into the Arkansas Racing Commission Purse and Awards Fund, and the amount paid to a city, town, or county as provided in this subchapter, all moneys received by the franchise holder from wagers pursuant to this subchapter shall be paid over to bettors holding winning pari-mutuel tickets in accordance with the provisions and at the times specified in the various race programs written by the franchise holder for the racing meet, as their respective interests may appear, upon presentation of those tickets.

(b) However, all winning pari-mutuel tickets not presented to the franchise holder for redemption on or before the one hundred eightieth day next following the last racing day of each racing meet hereafter held shall be void. Of the moneys represented by void pari-mutuel tickets, the franchise holder shall forthwith distribute the proceeds as follows: (1) One-third (1/3) of the amount thereof shall be retained by the franchise holder for its own use and benefit; (2) One-third (1/3) of the amount thereof shall be paid to the commission for deposit in the State Treasury as general revenues; and (3) One-third (1/3) of the amount thereof shall be paid to the treasurer of the county in which the racing track is located for credit to the general fund of the county.

(1) One-third (1/3) of the amount thereof shall be retained by the franchise holder for its own use and benefit;

(2) One-third (1/3) of the amount thereof shall be paid to the commission for deposit in the State Treasury as general revenues; and

(3) One-third (1/3) of the amount thereof shall be paid to the treasurer of the county in which the racing track is located for credit to the general fund of the county.

Acts 1957, No. 46, § 23; 1965, No. 142, § 1; 1967, No. 130, § 3; 1973, No. 780, § 1; 1983, No. 251, §§ 2, 3; 1985 (1st Ex. Sess.), No. 27, §§ 2, 3; 1985 (1st Ex. Sess.), No. 36, § 2; A.S.A. 1947, § 84-2749.
Ark. Code Ann. § 23-13-240 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-240
Common carriers - Rates, charges, rules, etc. - Establishment and division of joint rates, charges, etc
Status: in_force

(a) (1) Common carriers of property by motor vehicle may establish reasonable through routes and joint rates, charges, and classifications with other such carriers or with common carriers by railroad or express or water. (2) Common carriers of passengers by motor vehicle may establish reasonable through routes and joint rates, fares, or charges with common carriers by railroad or water. (b) In case of joint rates, fares, or charges, it shall be the duty of the carriers parties thereto to establish just and reasonable rules and practices in connection therewith and to establish just, reasonable, and equitable divisions thereof as between the carriers participating therein which shall not unduly prefer or prejudice any participating carriers. (c) (1) Whenever, after hearing, upon complaint or upon its own initiative the Arkansas Department of Transportation is of the opinion that the divisions of joint rates, fares, or charges, applicable to the transportation of passengers or property by common carriers by motor vehicle, or by such carriers in conjunction with common carriers by railroad, express, or water, are or will be unjust, unreasonable, inequitable, or unduly preferential or prejudicial as between the carriers parties thereto, whether agreed upon by such carriers, or any of them, or otherwise established, the department shall by order prescribe the just, reasonable, and equitable divisions thereof to be received by the several carriers. (2) In cases where the joint rate, fare, or charge was established pursuant to a finding or order of the department, the department may also by order determine what would have been the just, reasonable, and equitable divisions thereof to be received by the several carriers and require adjustment to be made in accordance therewith. (3) The order of the department may require the adjustment of divisions between the carriers, in accordance with the order, from the date of filing the complaint or entry of order of investigation or such other date subsequent as the department finds justified. In the case of joint rates described by the department, the order as to divisions may be made effective as a part of the original order. Amended by Act 2019, No. 315,§ 2437, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 211, eff. 8/1/2017. Acts 1955, No. 397, § 16; A.S.A. 1947, § 73-1769.

(a) (1) Common carriers of property by motor vehicle may establish reasonable through routes and joint rates, charges, and classifications with other such carriers or with common carriers by railroad or express or water. (2) Common carriers of passengers by motor vehicle may establish reasonable through routes and joint rates, fares, or charges with common carriers by railroad or water.

(1) Common carriers of property by motor vehicle may establish reasonable through routes and joint rates, charges, and classifications with other such carriers or with common carriers by railroad or express or water.

(2) Common carriers of passengers by motor vehicle may establish reasonable through routes and joint rates, fares, or charges with common carriers by railroad or water.

(b) In case of joint rates, fares, or charges, it shall be the duty of the carriers parties thereto to establish just and reasonable rules and practices in connection therewith and to establish just, reasonable, and equitable divisions thereof as between the carriers participating therein which shall not unduly prefer or prejudice any participating carriers.

(c) (1) Whenever, after hearing, upon complaint or upon its own initiative the Arkansas Department of Transportation is of the opinion that the divisions of joint rates, fares, or charges, applicable to the transportation of passengers or property by common carriers by motor vehicle, or by such carriers in conjunction with common carriers by railroad, express, or water, are or will be unjust, unreasonable, inequitable, or unduly preferential or prejudicial as between the carriers parties thereto, whether agreed upon by such carriers, or any of them, or otherwise established, the department shall by order prescribe the just, reasonable, and equitable divisions thereof to be received by the several carriers. (2) In cases where the joint rate, fare, or charge was established pursuant to a finding or order of the department, the department may also by order determine what would have been the just, reasonable, and equitable divisions thereof to be received by the several carriers and require adjustment to be made in accordance therewith. (3) The order of the department may require the adjustment of divisions between the carriers, in accordance with the order, from the date of filing the complaint or entry of order of investigation or such other date subsequent as the department finds justified. In the case of joint rates described by the department, the order as to divisions may be made effective as a part of the original order.

(1) Whenever, after hearing, upon complaint or upon its own initiative the Arkansas Department of Transportation is of the opinion that the divisions of joint rates, fares, or charges, applicable to the transportation of passengers or property by common carriers by motor vehicle, or by such carriers in conjunction with common carriers by railroad, express, or water, are or will be unjust, unreasonable, inequitable, or unduly preferential or prejudicial as between the carriers parties thereto, whether agreed upon by such carriers, or any of them, or otherwise established, the department shall by order prescribe the just, reasonable, and equitable divisions thereof to be received by the several carriers.

(2) In cases where the joint rate, fare, or charge was established pursuant to a finding or order of the department, the department may also by order determine what would have been the just, reasonable, and equitable divisions thereof to be received by the several carriers and require adjustment to be made in accordance therewith.

(3) The order of the department may require the adjustment of divisions between the carriers, in accordance with the order, from the date of filing the complaint or entry of order of investigation or such other date subsequent as the department finds justified. In the case of joint rates described by the department, the order as to divisions may be made effective as a part of the original order.

Amended by Act 2019, No. 315,§ 2437, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 211, eff. 8/1/2017.

Acts 1955, No. 397, § 16; A.S.A. 1947, § 73-1769.
Ark. Code Ann. § 23-63-902 — AR Code / Title 23 / Chapter 63 / Subchapter 9 / Section 23-63-902
Purpose
Status: in_force

Deposits shall be held for purposes as follows: (1) Deposits made in this state under § 23-63-206 shall be held for the purposes stated in that section; (2) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country and as required by the laws of that state, province, or country shall be held for the protection of the insurer's policyholders, or policyholders and creditors; (3) Deposits of reserves made by domestic life insurers under § 23-81-130 shall be held for the common benefit of all the holders of its life insurance policies and annuity contracts; and (4) Deposits required pursuant to the retaliatory provisions, §§ 23-63-102 - 23-63-104 , shall be held for such purposes as required by such laws and as specified in the Insurance Commissioner's order requiring the deposit. Acts 1959, No. 148, § 133; A.S.A. 1947, § 66-2702.

Deposits shall be held for purposes as follows:

(1) Deposits made in this state under § 23-63-206 shall be held for the purposes stated in that section;

(2) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country and as required by the laws of that state, province, or country shall be held for the protection of the insurer's policyholders, or policyholders and creditors;

(3) Deposits of reserves made by domestic life insurers under § 23-81-130 shall be held for the common benefit of all the holders of its life insurance policies and annuity contracts; and

(4) Deposits required pursuant to the retaliatory provisions, §§ 23-63-102 - 23-63-104 , shall be held for such purposes as required by such laws and as specified in the Insurance Commissioner's order requiring the deposit.

Acts 1959, No. 148, § 133; A.S.A. 1947, § 66-2702.
Ark. Code Ann. § 23-66-316 — AR Code / Title 23 / Chapter 66 / Subchapter 3 / Section 23-66-316
Advertising by health and accident insurers and prepaid health plans
Status: in_force

(a) It shall be unlawful for any insurance company or association transacting any health and accident or hospital or surgical insurance or prepaid hospital and surgical or healthcare plan in this state, in violation of a prior order or rule of the Insurance Commissioner directed to the company or association, to make, issue, circulate, or place before the public or to cause the making, issuing, circulation, or placing before the public in a newspaper, magazine, or other publication or in the form of a notice, brochure, circular, pamphlet, letter, or poster or by way of any radio or television station or in any other way or manner any advertisement, announcement, or statement with respect to the terms, benefits, premiums, or advantages of the policy or plan unless and until the advertisement, announcement, or statement has been filed with and approved by the commissioner, pursuant to the prior order or rule, as not being untrue, deceptive, or misleading in any respect. (b) (1) Any company or association violating the provisions of this section shall be guilty of a violation and upon a first conviction shall be fined not less than one hundred dollars ($100) nor more than five hundred dollars ($500) and for a second or subsequent conviction shall be fined not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000). (2) Each violation shall constitute a separate offense. Amended by Act 2019, No. 315,§ 2665, eff. 7/24/2019. Acts 1965, No. 155, §§ 1, 2; A.S.A. 1947, §§ 66-3027, 66-3028; Acts 2005, No. 1994, § 153.

(a) It shall be unlawful for any insurance company or association transacting any health and accident or hospital or surgical insurance or prepaid hospital and surgical or healthcare plan in this state, in violation of a prior order or rule of the Insurance Commissioner directed to the company or association, to make, issue, circulate, or place before the public or to cause the making, issuing, circulation, or placing before the public in a newspaper, magazine, or other publication or in the form of a notice, brochure, circular, pamphlet, letter, or poster or by way of any radio or television station or in any other way or manner any advertisement, announcement, or statement with respect to the terms, benefits, premiums, or advantages of the policy or plan unless and until the advertisement, announcement, or statement has been filed with and approved by the commissioner, pursuant to the prior order or rule, as not being untrue, deceptive, or misleading in any respect.

(b) (1) Any company or association violating the provisions of this section shall be guilty of a violation and upon a first conviction shall be fined not less than one hundred dollars ($100) nor more than five hundred dollars ($500) and for a second or subsequent conviction shall be fined not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000). (2) Each violation shall constitute a separate offense.

(1) Any company or association violating the provisions of this section shall be guilty of a violation and upon a first conviction shall be fined not less than one hundred dollars ($100) nor more than five hundred dollars ($500) and for a second or subsequent conviction shall be fined not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000).

(2) Each violation shall constitute a separate offense.

Amended by Act 2019, No. 315,§ 2665, eff. 7/24/2019.

Acts 1965, No. 155, §§ 1, 2; A.S.A. 1947, §§ 66-3027, 66-3028; Acts 2005, No. 1994, § 153.
Ark. Code Ann. § 23-69-205 — AR Code / Title 23 / Chapter 69 / Subchapter 2 / Section 23-69-205
Prevention of unfair use of information by owners, directors, or officers
Status: in_force

(a) For the purpose of preventing the unfair use of information which may have been obtained by a beneficial owner of more than ten percent (10%) of any class of any equity security, director, or officer by reason of his or her relationship to the company, any profit realized by him or her from any purchase and sale, or any sale and purchase, of any equity security of the company within any period of less than six (6) months, unless the security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the company, irrespective of any intention on the part of the beneficial owner, director, or officer in entering into the transaction of holding the security purchased or of not repurchasing the security sold for a period exceeding six (6) months. (b) Suit to receive the profit may be instituted in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring the suit within sixty (60) days after request or shall fail to prosecute diligently the suit thereafter. However, no suit shall be brought more than two (2) years after the date the profit was realized. (c) This section shall not be construed to cover any transaction where the beneficial owner was not such both at the time of the purchase and sale, or the sale and purchase, of the security involved, or any transaction or transactions which the Insurance Commissioner by rules may exempt as not comprehended within the purpose of this section. Amended by Act 2019, No. 315,§ 2688, eff. 7/24/2019. Acts 1965, No. 107, § 2; A.S.A. 1947, § 66-4259.

(a) For the purpose of preventing the unfair use of information which may have been obtained by a beneficial owner of more than ten percent (10%) of any class of any equity security, director, or officer by reason of his or her relationship to the company, any profit realized by him or her from any purchase and sale, or any sale and purchase, of any equity security of the company within any period of less than six (6) months, unless the security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the company, irrespective of any intention on the part of the beneficial owner, director, or officer in entering into the transaction of holding the security purchased or of not repurchasing the security sold for a period exceeding six (6) months.

(b) Suit to receive the profit may be instituted in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring the suit within sixty (60) days after request or shall fail to prosecute diligently the suit thereafter. However, no suit shall be brought more than two (2) years after the date the profit was realized.

(c) This section shall not be construed to cover any transaction where the beneficial owner was not such both at the time of the purchase and sale, or the sale and purchase, of the security involved, or any transaction or transactions which the Insurance Commissioner by rules may exempt as not comprehended within the purpose of this section.

Amended by Act 2019, No. 315,§ 2688, eff. 7/24/2019.

Acts 1965, No. 107, § 2; A.S.A. 1947, § 66-4259.
Ark. Code Ann. § 23-112-802 — AR Code / Title 23 / Chapter 112 / Subchapter 8 / Section 23-112-802
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 pursuant to 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, 2023; (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 Division of Arkansas State Police; (3) "Significant positive economic impact" means an economic benefit of at least three million dollars ($3,000,000) to the state or a region of the state; (4) "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 special event vehicle owners' organization; (B) Occurs not more than one (1) time each year for no more than seven (7) consecutive days; and (C) Includes any of the following that are invited to attend: (i) New motor vehicle dealers to display and sell special event vehicles; or (ii) New motor vehicle manufacturers or distributors to display special event vehicles; (5) "Special event vehicle" means: (A) A motorcycle; (B) An all-terrain vehicle; (C) A utility task vehicle; (D) A scooter; (E) A go-kart; and (F) A low-speed vehicle; and (6) "Special event 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. Amended by Act 2023, No. 696,§ 1, eff. 8/1/2023. Acts 2007, No. 235, § 1.

As used in this subchapter:

(1) "Nonprofit entity" means an entity that has received tax-exempt status from the Internal Revenue Service pursuant to 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, 2023;

(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 Division 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 Division of Arkansas State Police;

(3) "Significant positive economic impact" means an economic benefit of at least three million dollars ($3,000,000) to the state or a region of the state;

(4) "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 special event vehicle owners' organization; (B) Occurs not more than one (1) time each year for no more than seven (7) consecutive days; and (C) Includes any of the following that are invited to attend: (i) New motor vehicle dealers to display and sell special event vehicles; or (ii) New motor vehicle manufacturers or distributors to display special event vehicles;

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

(B) Occurs not more than one (1) time each year for no more than seven (7) consecutive days; and

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

(i) New motor vehicle dealers to display and sell special event vehicles; or

(ii) New motor vehicle manufacturers or distributors to display special event vehicles;

(5) "Special event vehicle" means: (A) A motorcycle; (B) An all-terrain vehicle; (C) A utility task vehicle; (D) A scooter; (E) A go-kart; and (F) A low-speed vehicle; and

(A) A motorcycle;

(B) An all-terrain vehicle;

(C) A utility task vehicle;

(D) A scooter;

(E) A go-kart; and

(F) A low-speed vehicle; and

(6) "Special event 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.

Amended by Act 2023, No. 696,§ 1, eff. 8/1/2023.

Acts 2007, No. 235, § 1.
Ark. Code Ann. § 23-65-306 — AR Code / Title 23 / Chapter 65 / Subchapter 3 / Section 23-65-306
Surplus lines brokers' reports
Status: in_force

(a) At the time of the procuring of surplus lines insurance in this state, when this state is considered the home state of the insured, the surplus lines broker shall file a report with the Insurance Commissioner within sixty (60) days following the end of the calendar quarter stating the facts referenced in §§ 23-65-313 and 23-65-314 and any additional information the commissioner shall require. (b) Reports filed under this section are not subject to public inspection unless the commissioner determines that the public interest or the welfare of the filing broker requires otherwise. Amended by Act 2019, No. 521,§ 18, eff. 7/24/2019. Acts 1959, No. 148, § 191; 1979, No. 731, § 2; 1985, No. 804, § 9; A.S.A. 1947, § 66-2911; Acts 2001, No. 1555, § 4; 2011, No. 1055, § 2.

(a) At the time of the procuring of surplus lines insurance in this state, when this state is considered the home state of the insured, the surplus lines broker shall file a report with the Insurance Commissioner within sixty (60) days following the end of the calendar quarter stating the facts referenced in §§ 23-65-313 and 23-65-314 and any additional information the commissioner shall require.

(b) Reports filed under this section are not subject to public inspection unless the commissioner determines that the public interest or the welfare of the filing broker requires otherwise.

Amended by Act 2019, No. 521,§ 18, eff. 7/24/2019.

Acts 1959, No. 148, § 191; 1979, No. 731, § 2; 1985, No. 804, § 9; A.S.A. 1947, § 66-2911; Acts 2001, No. 1555, § 4; 2011, No. 1055, § 2.
Ark. Code Ann. § 23-81-707 — AR Code / Title 23 / Chapter 81 / Subchapter 7 / Section 23-81-707
General provisions - Construction
Status: in_force

(a) The provisions of this subchapter may not be waived by any payee. (b) (1) Any transfer agreement entered into on or after August 12, 2005, by a payee who resides in this state shall provide that disputes under the transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of the State of Arkansas. (2) No transfer agreement shall authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee. (c) No transfer of structured settlement payment rights shall extend to any payments that are life-contingent unless prior to the date on which the payee signs the transfer agreement, the transferee has established and has agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for: (1) Periodically confirming the payee's survival; and (2) Giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee's death. (d) No payee who proposes to make a transfer of structured settlement payment rights shall incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on any failure of the transfer to satisfy the conditions of this subchapter. (e) Nothing contained in this subchapter shall be construed to authorize any transfer of structured settlement payment rights in contravention of any law or to imply that any transfer under a transfer agreement entered into prior to August 12, 2005, is valid or invalid. (f) Compliance with the requirements set forth in § 23-81-703 and fulfillment of the conditions set forth in § 23-81-704 shall be solely the responsibility of the transferee in any transfer of structured settlement payment rights, and neither the structured settlement obligor nor the annuity issuer shall bear any responsibility for or any liability arising from noncompliance with the requirements or failure to fulfill the conditions. Acts 2005, No. 2215, § 1.

(a) The provisions of this subchapter may not be waived by any payee.

(b) (1) Any transfer agreement entered into on or after August 12, 2005, by a payee who resides in this state shall provide that disputes under the transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of the State of Arkansas. (2) No transfer agreement shall authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee.

(1) Any transfer agreement entered into on or after August 12, 2005, by a payee who resides in this state shall provide that disputes under the transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of the State of Arkansas.

(2) No transfer agreement shall authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee.

(c) No transfer of structured settlement payment rights shall extend to any payments that are life-contingent unless prior to the date on which the payee signs the transfer agreement, the transferee has established and has agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for: (1) Periodically confirming the payee's survival; and (2) Giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee's death.

(1) Periodically confirming the payee's survival; and

(2) Giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee's death.

(d) No payee who proposes to make a transfer of structured settlement payment rights shall incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on any failure of the transfer to satisfy the conditions of this subchapter.

(e) Nothing contained in this subchapter shall be construed to authorize any transfer of structured settlement payment rights in contravention of any law or to imply that any transfer under a transfer agreement entered into prior to August 12, 2005, is valid or invalid.

(f) Compliance with the requirements set forth in § 23-81-703 and fulfillment of the conditions set forth in § 23-81-704 shall be solely the responsibility of the transferee in any transfer of structured settlement payment rights, and neither the structured settlement obligor nor the annuity issuer shall bear any responsibility for or any liability arising from noncompliance with the requirements or failure to fulfill the conditions.

Acts 2005, No. 2215, § 1.
Ark. Code Ann. § 23-77-109 — AR Code / Title 23 / Chapter 77 / Section 23-77-109
Annual reports and other information
Status: in_force

(a) (1) Each licensed automobile club or association shall annually on or before June 1, or within any extension of time the Insurance Commissioner for good cause may have granted, file with the commissioner a full and true statement of its financial condition, transactions, and affairs as of the December 31 preceding. (2) The statement required in subdivision (a)(1) of this section shall be in a general form and context as required or not disapproved by the commissioner. (b) It shall be the duty of each licensed automobile club or association to provide any other information which the commissioner may request from time to time. Amended by Act 2023, No. 469,§ 12, eff. 8/1/2023. Acts 1955, No. 377, § 5; 1985, No. 804, § 28; A.S.A. 1947, § 75-1605; Acts 1993, No. 901, § 38.

(a) (1) Each licensed automobile club or association shall annually on or before June 1, or within any extension of time the Insurance Commissioner for good cause may have granted, file with the commissioner a full and true statement of its financial condition, transactions, and affairs as of the December 31 preceding. (2) The statement required in subdivision (a)(1) of this section shall be in a general form and context as required or not disapproved by the commissioner.

(1) Each licensed automobile club or association shall annually on or before June 1, or within any extension of time the Insurance Commissioner for good cause may have granted, file with the commissioner a full and true statement of its financial condition, transactions, and affairs as of the December 31 preceding.

(2) The statement required in subdivision (a)(1) of this section shall be in a general form and context as required or not disapproved by the commissioner.

(b) It shall be the duty of each licensed automobile club or association to provide any other information which the commissioner may request from time to time.

Amended by Act 2023, No. 469,§ 12, eff. 8/1/2023.

Acts 1955, No. 377, § 5; 1985, No. 804, § 28; A.S.A. 1947, § 75-1605; Acts 1993, No. 901, § 38.
Ark. Code Ann. § 23-36-105 — AR Code / Title 23 / Chapter 36 / Section 23-36-105
Supervision by Bank Commissioner
Status: in_force

(a) Every institution transacting the business of an industrial loan institution as defined by this chapter, whether as a separate business or in connection with any other business, under the laws of and within this state, shall be subject to the provisions of this chapter and shall be under the supervision of the Bank Commissioner. (b) The commissioner may make, at any time and from time to time, any examinations of the affairs of securities affiliates or other affiliates of industrial loan institutions which are necessary to disclose fully the relations between the industrial loan institutions and their affiliates and the effect of the rules promulgated by the commissioner on the affairs of the industrial loan institutions. (c) The commissioner shall exercise control of and supervision over industrial loan institutions doing business under this chapter. It shall be his or her duty to execute and enforce, through the state bank examiners and any other agents appointed for that purpose, all laws relating to industrial loan institutions as defined by this chapter. (d) For the more complete and thorough enforcement of the provisions of this chapter, the commissioner is empowered to promulgate any rules and instructions, not inconsistent with this chapter, which may, in his or her opinion, be necessary to carry out the provisions of the laws relating to industrial loan institutions as defined in § 23-36-101 and which may be further necessary to ensure safe and conservative management of industrial loan institutions under his or her supervision to provide adequate protection for the interest of creditors, depositors, and stockholders in their relations with the institutions. (e) All industrial loan institutions doing business under the provisions of this chapter shall conduct their business in a manner consistent with all laws relating to industrial loan institutions and all rules and instructions that may be promulgated or issued by the commissioner. Amended by Act 2019, No. 315,§ 2492, eff. 7/24/2019. Acts 1941, No. 111, § 8; A.S.A. 1947, § 67-1008.

(a) Every institution transacting the business of an industrial loan institution as defined by this chapter, whether as a separate business or in connection with any other business, under the laws of and within this state, shall be subject to the provisions of this chapter and shall be under the supervision of the Bank Commissioner.

(b) The commissioner may make, at any time and from time to time, any examinations of the affairs of securities affiliates or other affiliates of industrial loan institutions which are necessary to disclose fully the relations between the industrial loan institutions and their affiliates and the effect of the rules promulgated by the commissioner on the affairs of the industrial loan institutions.

(c) The commissioner shall exercise control of and supervision over industrial loan institutions doing business under this chapter. It shall be his or her duty to execute and enforce, through the state bank examiners and any other agents appointed for that purpose, all laws relating to industrial loan institutions as defined by this chapter.

(d) For the more complete and thorough enforcement of the provisions of this chapter, the commissioner is empowered to promulgate any rules and instructions, not inconsistent with this chapter, which may, in his or her opinion, be necessary to carry out the provisions of the laws relating to industrial loan institutions as defined in § 23-36-101 and which may be further necessary to ensure safe and conservative management of industrial loan institutions under his or her supervision to provide adequate protection for the interest of creditors, depositors, and stockholders in their relations with the institutions.

(e) All industrial loan institutions doing business under the provisions of this chapter shall conduct their business in a manner consistent with all laws relating to industrial loan institutions and all rules and instructions that may be promulgated or issued by the commissioner.

Amended by Act 2019, No. 315,§ 2492, eff. 7/24/2019.

Acts 1941, No. 111, § 8; A.S.A. 1947, § 67-1008.
Ark. Code Ann. § 23-12-608 — AR Code / Title 23 / Chapter 12 / Subchapter 6 / Section 23-12-608
Establishment, discontinuance, modification, etc., of service generally - Investigation of objects sought to be accomplished - Findings
Status: in_force

(a) Within thirty (30) days after the filing of a petition, the Arkansas Department of Transportation shall proceed to make a personal inspection of the conditions complained of and investigate the objects sought to be accomplished by the petitioners. The department shall have the right and power to summon and swear witnesses. The summons shall be served by any sheriff, constable, or deputy having legal jurisdiction. (b) The department shall determine the amount, degree, and character of construction, equipment, changes, and enlargements of stations and depots which should be supplied by the railroad, railroad company, its lessee, or operator. The department shall have the power and authority to require a reasonable train service for each and every such railroad station and depot within the State of Arkansas, and its finding shall be binding upon all such railroads within the State of Arkansas. (c) The department shall file a copy of its findings and decrees with the Secretary of State, the Attorney General, and the circuit clerk of the county wherein the decree is granted. (d) The department shall serve notice upon the defendant railroad company by delivering a copy of its findings and decrees to the nearest local station agent and by sending by registered mail a copy to the superintendent, general manager, lessee, or operator of the railroad or railroad company. Amended by Act 2017, No. 707,§ 178, eff. 8/1/2017. Acts 1907, No. 149, §§ 2, 3, p. 356; 1907, No. 338, §§ 2, 3, p. 821; C. & M. Dig., §§ 1639, 1640; Pope's Dig., §§ 1960, 1961; A.S.A. 1947, §§ 73-810, 73-811.

(a) Within thirty (30) days after the filing of a petition, the Arkansas Department of Transportation shall proceed to make a personal inspection of the conditions complained of and investigate the objects sought to be accomplished by the petitioners. The department shall have the right and power to summon and swear witnesses. The summons shall be served by any sheriff, constable, or deputy having legal jurisdiction.

(b) The department shall determine the amount, degree, and character of construction, equipment, changes, and enlargements of stations and depots which should be supplied by the railroad, railroad company, its lessee, or operator. The department shall have the power and authority to require a reasonable train service for each and every such railroad station and depot within the State of Arkansas, and its finding shall be binding upon all such railroads within the State of Arkansas.

(c) The department shall file a copy of its findings and decrees with the Secretary of State, the Attorney General, and the circuit clerk of the county wherein the decree is granted.

(d) The department shall serve notice upon the defendant railroad company by delivering a copy of its findings and decrees to the nearest local station agent and by sending by registered mail a copy to the superintendent, general manager, lessee, or operator of the railroad or railroad company.

Amended by Act 2017, No. 707,§ 178, eff. 8/1/2017.

Acts 1907, No. 149, §§ 2, 3, p. 356; 1907, No. 338, §§ 2, 3, p. 821; C. & M. Dig., §§ 1639, 1640; Pope's Dig., §§ 1960, 1961; A.S.A. 1947, §§ 73-810, 73-811.
Ark. Code Ann. § 23-67-410 — AR Code / Title 23 / Chapter 67 / Subchapter 4 / Section 23-67-410
Indemnification
Status: in_force

(a) An insurer shall indemnify, defend, and hold agents harmless from and against all liability, fees, and costs arising out of or relating to the actions, errors, or omissions of a producer who obtains or uses credit information or credit scores, or both, for an insurer, provided the producer follows the instructions of or procedures established by the insurer and complies with any applicable law or rule. (b) Nothing in this section shall be construed to provide a consumer or other insured with a cause of action that does not exist in the absence of this section. Amended by Act 2019, No. 315,§ 2680, eff. 7/24/2019. Acts 2003, No. 1452, § 2.

(a) An insurer shall indemnify, defend, and hold agents harmless from and against all liability, fees, and costs arising out of or relating to the actions, errors, or omissions of a producer who obtains or uses credit information or credit scores, or both, for an insurer, provided the producer follows the instructions of or procedures established by the insurer and complies with any applicable law or rule.

(b) Nothing in this section shall be construed to provide a consumer or other insured with a cause of action that does not exist in the absence of this section.

Amended by Act 2019, No. 315,§ 2680, eff. 7/24/2019.

Acts 2003, No. 1452, § 2.
Ark. Code Ann. § 23-51-142 — AR Code / Title 23 / Chapter 51 / Section 23-51-142
Board of directors
Status: in_force

(a) The board of a state trust company shall be governed by the provisions of the Arkansas Business Corporation Act, § 4-27-101 et seq., provided that the board must consist of not fewer than three directors, the majority of whom must be residents of this state. (b) Unless the Bank Commissioner consents otherwise in writing, a person may not serve as director of a state trust company if: (1) The state trust company incurs an unreimbursed loss attributable to a charged-off obligation of or holds a judgment against the person or an entity that was controlled by the person at the time of funding and at the time of default on the loan that gave rise to the judgment or charged-off obligation; (2) The person has been convicted of a felony; or (3) The person has violated a provision of this chapter, relating to loan of trust funds and purchase or sale of trust property by the trustee, and the violation has not been corrected. (c) If a state trust company does not elect directors prior to sixty (60) days after the date of its regular annual meeting, the commissioner may commence a proceeding to appoint a receiver pursuant to § 23-51-164 to operate the state trust company and elect directors or managers, as appropriate. If the conservator is unable to locate or elect persons willing and able to serve as directors, the commissioner may close the state trust company for liquidation. (d) A vacancy on the board that reduces the number of directors to fewer than three must be filed not later than ninety (90) days after the date the vacancy occurs. If the vacancy has not been filled upon the expiration of ninety (90) days following the date the vacancy occurs, the commissioner may commence a proceeding to appoint a receiver pursuant to § 23-51-164 to operate the state trust company and elect a board of not fewer than three persons to resolve the vacancy. If the conservator is unable to locate or elect three persons willing and able to serve as directors, the commissioner may close the state trust company for liquidation. (e) Before each term to which a person is elected to serve as a director of a state trust company, the person shall submit an affidavit for filing in the minutes of the state trust company stating that the person, to the extent applicable: (1) Accepts the position and is not disqualified from serving in the position; (2) Will not violate or knowingly permit an officer, director, or employee of the state trust company to violate any law applicable to the conduct of business of the state trust company; and (3) Will diligently perform the duties of the position. (f) An advisory director is not considered a director if the advisory director: (1) Is not elected by the shareholders of the state trust company; (2) Does not vote on matters before the board or a committee of the board and is not counted for purposes of determining a quorum of the board or committee; and (3) Provides solely general policy advice to the board. Acts 1997, No. 940, § 42.

(a) The board of a state trust company shall be governed by the provisions of the Arkansas Business Corporation Act, § 4-27-101 et seq., provided that the board must consist of not fewer than three directors, the majority of whom must be residents of this state.

(b) Unless the Bank Commissioner consents otherwise in writing, a person may not serve as director of a state trust company if: (1) The state trust company incurs an unreimbursed loss attributable to a charged-off obligation of or holds a judgment against the person or an entity that was controlled by the person at the time of funding and at the time of default on the loan that gave rise to the judgment or charged-off obligation; (2) The person has been convicted of a felony; or (3) The person has violated a provision of this chapter, relating to loan of trust funds and purchase or sale of trust property by the trustee, and the violation has not been corrected.

(1) The state trust company incurs an unreimbursed loss attributable to a charged-off obligation of or holds a judgment against the person or an entity that was controlled by the person at the time of funding and at the time of default on the loan that gave rise to the judgment or charged-off obligation;

(2) The person has been convicted of a felony; or

(3) The person has violated a provision of this chapter, relating to loan of trust funds and purchase or sale of trust property by the trustee, and the violation has not been corrected.

(c) If a state trust company does not elect directors prior to sixty (60) days after the date of its regular annual meeting, the commissioner may commence a proceeding to appoint a receiver pursuant to § 23-51-164 to operate the state trust company and elect directors or managers, as appropriate. If the conservator is unable to locate or elect persons willing and able to serve as directors, the commissioner may close the state trust company for liquidation.

(d) A vacancy on the board that reduces the number of directors to fewer than three must be filed not later than ninety (90) days after the date the vacancy occurs. If the vacancy has not been filled upon the expiration of ninety (90) days following the date the vacancy occurs, the commissioner may commence a proceeding to appoint a receiver pursuant to § 23-51-164 to operate the state trust company and elect a board of not fewer than three persons to resolve the vacancy. If the conservator is unable to locate or elect three persons willing and able to serve as directors, the commissioner may close the state trust company for liquidation.

(e) Before each term to which a person is elected to serve as a director of a state trust company, the person shall submit an affidavit for filing in the minutes of the state trust company stating that the person, to the extent applicable: (1) Accepts the position and is not disqualified from serving in the position; (2) Will not violate or knowingly permit an officer, director, or employee of the state trust company to violate any law applicable to the conduct of business of the state trust company; and (3) Will diligently perform the duties of the position.

(1) Accepts the position and is not disqualified from serving in the position;

(2) Will not violate or knowingly permit an officer, director, or employee of the state trust company to violate any law applicable to the conduct of business of the state trust company; and

(3) Will diligently perform the duties of the position.

(f) An advisory director is not considered a director if the advisory director: (1) Is not elected by the shareholders of the state trust company; (2) Does not vote on matters before the board or a committee of the board and is not counted for purposes of determining a quorum of the board or committee; and (3) Provides solely general policy advice to the board.

(1) Is not elected by the shareholders of the state trust company;

(2) Does not vote on matters before the board or a committee of the board and is not counted for purposes of determining a quorum of the board or committee; and

(3) Provides solely general policy advice to the board.

Acts 1997, No. 940, § 42.
Ark. Code Ann. § 23-35-608 — AR Code / Title 23 / Chapter 35 / Subchapter 6 / Section 23-35-608
Reduction of assets
Status: in_force

When the losses of a credit union resulting from a depreciation in value of its loans or investments, or otherwise, exceed its undivided earnings and reserve fund so that the estimated value of its assets is less than the total amount due the shareholders, the credit union may by a majority vote of the entire membership order a reduction in the shares of each of its shareholders to divide the loss proportionately among the members. If thereafter the credit union shall realize from its assets a greater amount than was fixed by the order of reduction, the excess shall be divided among the shareholders whose assets were reduced, but only to the extent of the reduction. Acts 1971, No. 132, § 28; A.S.A. 1947, § 67-928.

When the losses of a credit union resulting from a depreciation in value of its loans or investments, or otherwise, exceed its undivided earnings and reserve fund so that the estimated value of its assets is less than the total amount due the shareholders, the credit union may by a majority vote of the entire membership order a reduction in the shares of each of its shareholders to divide the loss proportionately among the members. If thereafter the credit union shall realize from its assets a greater amount than was fixed by the order of reduction, the excess shall be divided among the shareholders whose assets were reduced, but only to the extent of the reduction.

Acts 1971, No. 132, § 28; A.S.A. 1947, § 67-928.
Ark. Code Ann. § 23-114-303 — AR Code / Title 23 / Chapter 114 / Subchapter 3 / Section 23-114-303
License application - Authorized organizations
Status: in_force

(a) An applicant for an authorized organization license shall file a written verified application with the Department of Finance and Administration on a form prescribed by the department. (b) The license application shall include: (1) The name and address of the applicant; (2) A designation and address of the premises intended to be used for a raffle or bingo session; (3) The name and address of the person or persons within the authorized organization who will be responsible for organizing, conducting, and otherwise administering the raffle or bingo sessions; (4) If the premises upon which a raffle or bingo session will be conducted has been leased by the authorized organization, a copy of the lease agreement; and (5) A statement that the applicant complies with the conditions for eligibility for the license. (c) The responsible person within an authorized organization shall meet the following requirements: (1) The responsible person shall not have been found guilty of or pleaded guilty or no contest to: (A) Any felony by any court in the State of Arkansas; or (B) Any similar offense by a court in another state or of any similar offense by a military or federal court; (2) (A) In order to determine a responsible person's suitability to organize, conduct, and administer raffles and bingo sessions, the Secretary of the Department of Finance and Administration may require that the responsible person be fingerprinted and the fingerprints forwarded for a criminal background check through the Division of Arkansas State Police. (B) After the completion of the criminal background check through the division, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check; and (3) The responsible person shall sign a release that allows the division to release: (A) An Arkansas noncriminal justice background check to the department; and (B) A fingerprint card of the applicant to the Federal Bureau of Investigation to allow a federal fingerprint-based background check to be performed. (d) (1) Before the renewal of an annual license, the licensed authorized organization shall report the following information: (A) The amount of the total gross receipts derived from games of bingo and raffles; (B) The net proceeds derived from games of bingo and raffles; (C) The use to which the proceeds have been or are to be applied; and (D) If requested by the secretary, a list of expenses paid or incurred. (2) A licensed authorized organization shall maintain records to substantiate the contents of the report required by this subsection. Amended by Act 2019, No. 910,§ 3525, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 3524, eff. 7/1/2019. Acts 2007, No. 388, § 1; 2009, No. 164, §§ 17, 18.

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

(b) The license application shall include: (1) The name and address of the applicant; (2) A designation and address of the premises intended to be used for a raffle or bingo session; (3) The name and address of the person or persons within the authorized organization who will be responsible for organizing, conducting, and otherwise administering the raffle or bingo sessions; (4) If the premises upon which a raffle or bingo session will be conducted has been leased by the authorized organization, a copy of the lease agreement; and (5) A statement that the applicant complies with the conditions for eligibility for the license.

(1) The name and address of the applicant;

(2) A designation and address of the premises intended to be used for a raffle or bingo session;

(3) The name and address of the person or persons within the authorized organization who will be responsible for organizing, conducting, and otherwise administering the raffle or bingo sessions;

(4) If the premises upon which a raffle or bingo session will be conducted has been leased by the authorized organization, a copy of the lease agreement; and

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

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

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

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

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

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

(A) In order to determine a responsible person's suitability to organize, conduct, and administer raffles and bingo sessions, the Secretary of the Department of Finance and Administration may require that the responsible person be fingerprinted and the fingerprints forwarded for a criminal background check through the Division of Arkansas State Police.

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

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

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

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

(d) (1) Before the renewal of an annual license, the licensed authorized organization shall report the following information: (A) The amount of the total gross receipts derived from games of bingo and raffles; (B) The net proceeds derived from games of bingo and raffles; (C) The use to which the proceeds have been or are to be applied; and (D) If requested by the secretary, a list of expenses paid or incurred. (2) A licensed authorized organization shall maintain records to substantiate the contents of the report required by this subsection.

(1) Before the renewal of an annual license, the licensed authorized organization shall report the following information: (A) The amount of the total gross receipts derived from games of bingo and raffles; (B) The net proceeds derived from games of bingo and raffles; (C) The use to which the proceeds have been or are to be applied; and (D) If requested by the secretary, a list of expenses paid or incurred.

(A) The amount of the total gross receipts derived from games of bingo and raffles;

(B) The net proceeds derived from games of bingo and raffles;

(C) The use to which the proceeds have been or are to be applied; and

(D) If requested by the secretary, a list of expenses paid or incurred.

(2) A licensed authorized organization shall maintain records to substantiate the contents of the report required by this subsection.

Amended by Act 2019, No. 910,§ 3525, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 3524, eff. 7/1/2019.

Acts 2007, No. 388, § 1; 2009, No. 164, §§ 17, 18.
Ark. Code Ann. § 23-69-150 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-150
Assumption reinsurance - Mutual insurers
Status: in_force

(a) A domestic mutual insurer may reinsure all or substantially all of its insurance in force, or a major class thereof, with another insurer, stock or mutual, by an agreement of assumption reinsurance after compliance with this section. The agreement shall not become effective unless filed with the Insurance Commissioner and approved by him or her in writing after a hearing thereon. With regard to proposed transactions between a domestic mutual insurer which is a subsidiary or affiliate of a depository institution, and another insurer, the hearing shall be concluded and the order issued within the period required by federal law, and the order shall be final upon entry. (b) The commissioner shall approve the agreement within a reasonable time after filing if he or she finds it to be fair and equitable to each domestic insurer involved and that the reinsurance if effectuated would not substantially reduce the protection or service to its policyholders. If the commissioner does not so approve, he or she shall so notify each insurer involved in writing specifying his or her reasons therefor. (c) The plan and agreement for the reinsurance must be approved by vote not less than two-thirds (2/3) of each domestic mutual insurer's members voting thereon at meetings of members called for the purpose, pursuant to such reasonable notice and procedure as the commissioner may approve. If a life insurer, the right to vote may be limited to members whose policies are other than term or group policies and have been in effect for more than one (1) year. (d) If for reinsurance of a mutual insurer in a stock insurer, the agreement must provide for payment in cash to each member of the insurer entitled thereto as upon conversion of the insurer pursuant to § 23-69-141 , of his or her equity in the business reinsured as determined under a fair formula approved by the commissioner, which equity shall be based upon the member's equity in the reserves, assets whether or not they are admitted assets, and surplus, if any, of the mutual insurer to be taken over by the stock insurer. Acts 1959, No. 148, § 503; A.S.A. 1947, § 66-4251; Acts 2001, No. 1604, § 67.

(a) A domestic mutual insurer may reinsure all or substantially all of its insurance in force, or a major class thereof, with another insurer, stock or mutual, by an agreement of assumption reinsurance after compliance with this section. The agreement shall not become effective unless filed with the Insurance Commissioner and approved by him or her in writing after a hearing thereon. With regard to proposed transactions between a domestic mutual insurer which is a subsidiary or affiliate of a depository institution, and another insurer, the hearing shall be concluded and the order issued within the period required by federal law, and the order shall be final upon entry.

(b) The commissioner shall approve the agreement within a reasonable time after filing if he or she finds it to be fair and equitable to each domestic insurer involved and that the reinsurance if effectuated would not substantially reduce the protection or service to its policyholders. If the commissioner does not so approve, he or she shall so notify each insurer involved in writing specifying his or her reasons therefor.

(c) The plan and agreement for the reinsurance must be approved by vote not less than two-thirds (2/3) of each domestic mutual insurer's members voting thereon at meetings of members called for the purpose, pursuant to such reasonable notice and procedure as the commissioner may approve. If a life insurer, the right to vote may be limited to members whose policies are other than term or group policies and have been in effect for more than one (1) year.

(d) If for reinsurance of a mutual insurer in a stock insurer, the agreement must provide for payment in cash to each member of the insurer entitled thereto as upon conversion of the insurer pursuant to § 23-69-141 , of his or her equity in the business reinsured as determined under a fair formula approved by the commissioner, which equity shall be based upon the member's equity in the reserves, assets whether or not they are admitted assets, and surplus, if any, of the mutual insurer to be taken over by the stock insurer.

Acts 1959, No. 148, § 503; A.S.A. 1947, § 66-4251; Acts 2001, No. 1604, § 67.
Ark. Code Ann. § 23-35-803 — AR Code / Title 23 / Chapter 35 / Subchapter 8 / Section 23-35-803
Prohibited actions by officers, directors, agents, etc
Status: in_force

(a) (1) It is unlawful for any officer, director, committee member, agent, employee, or loan officer of a credit union to permit a loan to be made to a nonmember or to participate in a loan to a nonmember. (2) It is unlawful for any corporation, officer, director, member, committee member, agent, employee, or loan officer of a credit union to receive either directly or indirectly the proceeds of a credit union loan made in the name of another person, corporation, or credit union with the purpose to avoid compliance with this chapter. (3) Any person who willfully violates this subsection shall be guilty of a Class A misdemeanor and shall be primarily liable to the credit union for the amount thus illegally loaned. (4) The illegality of such a loan shall be no defense in any action of the credit union to recover on the loan. (b) (1) It is unlawful for any officer, director, committee member, agent, or employee of a credit union to make or subscribe to false entries or exhibit a false or fictitious paper, instrument, or security to a person authorized to examine the credit union books and records. (2) Any person who willfully violates this subsection shall be guilty of a Class D felony. (c) (1) It is unlawful for any officer, director, committee member, agent, or employee of a credit union to receive payments on shares knowing the credit union is insolvent. (2) Any person who willfully violates this subsection shall be guilty of a Class C felony. Acts 1971, No. 132, § 14; 1975, No. 530, § 11; A.S.A. 1947, § 67-914; Acts 2005, No. 1994, § 444.

(a) (1) It is unlawful for any officer, director, committee member, agent, employee, or loan officer of a credit union to permit a loan to be made to a nonmember or to participate in a loan to a nonmember. (2) It is unlawful for any corporation, officer, director, member, committee member, agent, employee, or loan officer of a credit union to receive either directly or indirectly the proceeds of a credit union loan made in the name of another person, corporation, or credit union with the purpose to avoid compliance with this chapter. (3) Any person who willfully violates this subsection shall be guilty of a Class A misdemeanor and shall be primarily liable to the credit union for the amount thus illegally loaned. (4) The illegality of such a loan shall be no defense in any action of the credit union to recover on the loan.

(1) It is unlawful for any officer, director, committee member, agent, employee, or loan officer of a credit union to permit a loan to be made to a nonmember or to participate in a loan to a nonmember.

(2) It is unlawful for any corporation, officer, director, member, committee member, agent, employee, or loan officer of a credit union to receive either directly or indirectly the proceeds of a credit union loan made in the name of another person, corporation, or credit union with the purpose to avoid compliance with this chapter.

(3) Any person who willfully violates this subsection shall be guilty of a Class A misdemeanor and shall be primarily liable to the credit union for the amount thus illegally loaned.

(4) The illegality of such a loan shall be no defense in any action of the credit union to recover on the loan.

(b) (1) It is unlawful for any officer, director, committee member, agent, or employee of a credit union to make or subscribe to false entries or exhibit a false or fictitious paper, instrument, or security to a person authorized to examine the credit union books and records. (2) Any person who willfully violates this subsection shall be guilty of a Class D felony.

(1) It is unlawful for any officer, director, committee member, agent, or employee of a credit union to make or subscribe to false entries or exhibit a false or fictitious paper, instrument, or security to a person authorized to examine the credit union books and records.

(2) Any person who willfully violates this subsection shall be guilty of a Class D felony.

(c) (1) It is unlawful for any officer, director, committee member, agent, or employee of a credit union to receive payments on shares knowing the credit union is insolvent. (2) Any person who willfully violates this subsection shall be guilty of a Class C felony.

(1) It is unlawful for any officer, director, committee member, agent, or employee of a credit union to receive payments on shares knowing the credit union is insolvent.

(2) Any person who willfully violates this subsection shall be guilty of a Class C felony.

Acts 1971, No. 132, § 14; 1975, No. 530, § 11; A.S.A. 1947, § 67-914; Acts 2005, No. 1994, § 444.
Ark. Code Ann. § 23-88-308 — AR Code / Title 23 / Chapter 88 / Subchapter 3 / Section 23-88-308
Commissioner's powers and duties
Status: in_force

(a) In addition to approving the plan of operation, the Insurance Commissioner shall have the authority to promulgate rules necessary to effect the purpose of this subchapter. (b) Further, after review of annual statements, other reports, and any other statistics which the commissioner deems necessary, the commissioner shall certify to the plan the aggregate net direct property insurance premiums written on property in this state by all members. This information will be used to determine a member's participation. Amended by Act 2019, No. 315,§ 2760, eff. 7/24/2019. Acts 1985 (1st Ex. Sess.), No. 25, § 8; A.S.A. 1947, § 66-6108.

(a) In addition to approving the plan of operation, the Insurance Commissioner shall have the authority to promulgate rules necessary to effect the purpose of this subchapter.

(b) Further, after review of annual statements, other reports, and any other statistics which the commissioner deems necessary, the commissioner shall certify to the plan the aggregate net direct property insurance premiums written on property in this state by all members. This information will be used to determine a member's participation.

Amended by Act 2019, No. 315,§ 2760, eff. 7/24/2019.

Acts 1985 (1st Ex. Sess.), No. 25, § 8; A.S.A. 1947, § 66-6108.
Ark. Code Ann. § 23-18-109 — AR Code / Title 23 / Chapter 18 / Subchapter 1 / Section 23-18-109
Power purchase agreement - Definitions
Status: in_force

(a) As used in this section: (1) "Power purchase agreement" means an agreement between a generator of electricity and a utility for the sale of electricity, generation capacity, or ancillary products to the utility; and (2) "Utility" means an electric utility subject to the jurisdiction of the Arkansas Public Service Commission. (b) A utility may enter into a power purchase agreement. (c) A utility shall not enter into a power purchase agreement for a term of more than five (5) years or recover the cost of the power purchase agreement in rates unless the commission finds that: (1) The cost of the power purchase agreement is reasonable and prudent; (2) The power purchase agreement will provide savings for retail customers as compared to other generation and power supply options over the term of the power purchase agreement; (3) The power purchase agreement is required by public convenience and necessity; (4) The power purchase agreement is necessary to supplement or replace the utility's existing generation sources; and (5) Approval of the power purchase agreement is in the public interest. (d) After making the findings required under subsection (c) of this section, the commission may enter an order approving the power purchase agreement and providing for the utility to recover the costs of the power purchase agreement over the term of the power purchase agreement. (e) (1) (A) If the commission approves a power purchase agreement under this section, the commission may authorize the utility to recover an additional sum as determined by the commission in recognition of the unique characteristics of the power purchase agreement if the commission finds that including the additional sum is in the public interest. (B) However, an additional sum is not appropriate if the generator party to the power purchase agreement is an affiliate of the utility. (2) In determining the additional sum allowed under subdivision (e)(1) of this section, the commission may consider: (A) The risks of the power purchase agreement; (B) A commensurate return on the power purchase agreement as would be allowed for an equivalent investment in a power plant; (C) (i) An equitable sharing of any savings between the utility and the retail customers of the utility. (ii) However, the retail customers' share shall not be less than seventy-five percent (75%); and (D) Any other reasonable mechanisms for determining the additional sum that: (i) Are in the public interest; (ii) Equitably balance the interests of the utility and the retail customers of the utility; and (iii) Provide results that are comparable to the criteria described in subdivision (e)(2)(B) or subdivision (e)(2)(C) of this section. (3) If the commission authorizes an additional sum under this subsection, the utility shall recover the additional sum over the entire term of the power purchase agreement in the same manner as it recovers the cost of the power purchase agreement as long as electricity, generation capacity, or ancillary products are being delivered in accordance with the terms of the power purchase agreement. (f) This section does not apply to an electric cooperative corporation established under the Electric Cooperative Corporation Act, § 23-18-301 et seq. Added by Act 2015, No. 1088,§ 1, eff. 7/22/2015.

(a) As used in this section: (1) "Power purchase agreement" means an agreement between a generator of electricity and a utility for the sale of electricity, generation capacity, or ancillary products to the utility; and (2) "Utility" means an electric utility subject to the jurisdiction of the Arkansas Public Service Commission.

(1) "Power purchase agreement" means an agreement between a generator of electricity and a utility for the sale of electricity, generation capacity, or ancillary products to the utility; and

(2) "Utility" means an electric utility subject to the jurisdiction of the Arkansas Public Service Commission.

(b) A utility may enter into a power purchase agreement.

(c) A utility shall not enter into a power purchase agreement for a term of more than five (5) years or recover the cost of the power purchase agreement in rates unless the commission finds that: (1) The cost of the power purchase agreement is reasonable and prudent; (2) The power purchase agreement will provide savings for retail customers as compared to other generation and power supply options over the term of the power purchase agreement; (3) The power purchase agreement is required by public convenience and necessity; (4) The power purchase agreement is necessary to supplement or replace the utility's existing generation sources; and (5) Approval of the power purchase agreement is in the public interest.

(1) The cost of the power purchase agreement is reasonable and prudent;

(2) The power purchase agreement will provide savings for retail customers as compared to other generation and power supply options over the term of the power purchase agreement;

(3) The power purchase agreement is required by public convenience and necessity;

(4) The power purchase agreement is necessary to supplement or replace the utility's existing generation sources; and

(5) Approval of the power purchase agreement is in the public interest.

(d) After making the findings required under subsection (c) of this section, the commission may enter an order approving the power purchase agreement and providing for the utility to recover the costs of the power purchase agreement over the term of the power purchase agreement.

(e) (1) (A) If the commission approves a power purchase agreement under this section, the commission may authorize the utility to recover an additional sum as determined by the commission in recognition of the unique characteristics of the power purchase agreement if the commission finds that including the additional sum is in the public interest. (B) However, an additional sum is not appropriate if the generator party to the power purchase agreement is an affiliate of the utility. (2) In determining the additional sum allowed under subdivision (e)(1) of this section, the commission may consider: (A) The risks of the power purchase agreement; (B) A commensurate return on the power purchase agreement as would be allowed for an equivalent investment in a power plant; (C) (i) An equitable sharing of any savings between the utility and the retail customers of the utility. (ii) However, the retail customers' share shall not be less than seventy-five percent (75%); and (D) Any other reasonable mechanisms for determining the additional sum that: (i) Are in the public interest; (ii) Equitably balance the interests of the utility and the retail customers of the utility; and (iii) Provide results that are comparable to the criteria described in subdivision (e)(2)(B) or subdivision (e)(2)(C) of this section. (3) If the commission authorizes an additional sum under this subsection, the utility shall recover the additional sum over the entire term of the power purchase agreement in the same manner as it recovers the cost of the power purchase agreement as long as electricity, generation capacity, or ancillary products are being delivered in accordance with the terms of the power purchase agreement.

(1) (A) If the commission approves a power purchase agreement under this section, the commission may authorize the utility to recover an additional sum as determined by the commission in recognition of the unique characteristics of the power purchase agreement if the commission finds that including the additional sum is in the public interest. (B) However, an additional sum is not appropriate if the generator party to the power purchase agreement is an affiliate of the utility.

(A) If the commission approves a power purchase agreement under this section, the commission may authorize the utility to recover an additional sum as determined by the commission in recognition of the unique characteristics of the power purchase agreement if the commission finds that including the additional sum is in the public interest.

(B) However, an additional sum is not appropriate if the generator party to the power purchase agreement is an affiliate of the utility.

(2) In determining the additional sum allowed under subdivision (e)(1) of this section, the commission may consider: (A) The risks of the power purchase agreement; (B) A commensurate return on the power purchase agreement as would be allowed for an equivalent investment in a power plant; (C) (i) An equitable sharing of any savings between the utility and the retail customers of the utility. (ii) However, the retail customers' share shall not be less than seventy-five percent (75%); and (D) Any other reasonable mechanisms for determining the additional sum that: (i) Are in the public interest; (ii) Equitably balance the interests of the utility and the retail customers of the utility; and (iii) Provide results that are comparable to the criteria described in subdivision (e)(2)(B) or subdivision (e)(2)(C) of this section.

(A) The risks of the power purchase agreement;

(B) A commensurate return on the power purchase agreement as would be allowed for an equivalent investment in a power plant;

(C) (i) An equitable sharing of any savings between the utility and the retail customers of the utility. (ii) However, the retail customers' share shall not be less than seventy-five percent (75%); and

(i) An equitable sharing of any savings between the utility and the retail customers of the utility.

(ii) However, the retail customers' share shall not be less than seventy-five percent (75%); and

(D) Any other reasonable mechanisms for determining the additional sum that: (i) Are in the public interest; (ii) Equitably balance the interests of the utility and the retail customers of the utility; and (iii) Provide results that are comparable to the criteria described in subdivision (e)(2)(B) or subdivision (e)(2)(C) of this section.

(i) Are in the public interest;

(ii) Equitably balance the interests of the utility and the retail customers of the utility; and

(iii) Provide results that are comparable to the criteria described in subdivision (e)(2)(B) or subdivision (e)(2)(C) of this section.

(3) If the commission authorizes an additional sum under this subsection, the utility shall recover the additional sum over the entire term of the power purchase agreement in the same manner as it recovers the cost of the power purchase agreement as long as electricity, generation capacity, or ancillary products are being delivered in accordance with the terms of the power purchase agreement.

(f) This section does not apply to an electric cooperative corporation established under the Electric Cooperative Corporation Act, § 23-18-301 et seq.

Added by Act 2015, No. 1088,§ 1, eff. 7/22/2015.
Ark. Code Ann. § 23-111-505 — AR Code / Title 23 / Chapter 111 / Subchapter 5 / Section 23-111-505
Additional racing days for benefit of indigent patients, etc
Status: in_force

(a) The Arkansas Racing Commission is authorized to allow each dog racing franchise holder to conduct fifteen (15) additional days of racing during each twelve-month period. The additional days of racing may be divided between each of the two (2) racing meets allowed by § 23-111-502 , or all the additional days of racing may be added to a single racing meet as determined by the commission. In the event the additional days allowed by the commission fall upon a Saturday or Saturdays, then the franchise holder, at its option, may conduct daylight racing as authorized for a regular racing meet. (b) (1) All revenue derived from the pari-mutuel tax at the fifteen (15) additional days of racing authorized by subsection (a) of this section after moneys have been remitted by the franchise holder to Arkansas State University Mid-South as provided by § 23-111-517 shall be deposited with the Treasurer of State as special revenue for credit to the Indigent Patient's Fund, to be used by Mississippi County, Poinsett County, Cross County, St. Francis County, and Lee County to defray the cost of hospitalization and other medical services of indigent Arkansas patients in healthcare facilities for which the county has not received total reimbursement. (2) Each county shall certify to the Chief Fiscal Officer of the State the amount of the unreimbursed medical expenses under such procedures and such detail as required by the Department of Finance and Administration. (3) The amount available to each county shall be no more than one-fifth (1/5) of the total funds available or the amount certified of unreimbursed medical expenses, whichever is less. (c) The commission is authorized to allow each dog racing franchise holder to conduct two (2) additional days of racing at any dog racing meet. The net proceeds derived from these additional days shall be deposited with the city treasurer or collector of the city in which the dog racing track is located for credit to the city general fund to be used for providing assistance and relief to disaster victims, indigent persons, organizations which assist such persons, and for education purposes. Amended by Act 2016F, No. 140,§ 13, eff. 7/1/2016. Acts 1985, No. 924, § 4; A.S.A. 1947, § 84-2851; Acts 1987, No. 383, § 3; 1989, No. 238, § 2; 2001, No. 1666, § 22.

(a) The Arkansas Racing Commission is authorized to allow each dog racing franchise holder to conduct fifteen (15) additional days of racing during each twelve-month period. The additional days of racing may be divided between each of the two (2) racing meets allowed by § 23-111-502 , or all the additional days of racing may be added to a single racing meet as determined by the commission. In the event the additional days allowed by the commission fall upon a Saturday or Saturdays, then the franchise holder, at its option, may conduct daylight racing as authorized for a regular racing meet.

(b) (1) All revenue derived from the pari-mutuel tax at the fifteen (15) additional days of racing authorized by subsection (a) of this section after moneys have been remitted by the franchise holder to Arkansas State University Mid-South as provided by § 23-111-517 shall be deposited with the Treasurer of State as special revenue for credit to the Indigent Patient's Fund, to be used by Mississippi County, Poinsett County, Cross County, St. Francis County, and Lee County to defray the cost of hospitalization and other medical services of indigent Arkansas patients in healthcare facilities for which the county has not received total reimbursement. (2) Each county shall certify to the Chief Fiscal Officer of the State the amount of the unreimbursed medical expenses under such procedures and such detail as required by the Department of Finance and Administration. (3) The amount available to each county shall be no more than one-fifth (1/5) of the total funds available or the amount certified of unreimbursed medical expenses, whichever is less.

(1) All revenue derived from the pari-mutuel tax at the fifteen (15) additional days of racing authorized by subsection (a) of this section after moneys have been remitted by the franchise holder to Arkansas State University Mid-South as provided by § 23-111-517 shall be deposited with the Treasurer of State as special revenue for credit to the Indigent Patient's Fund, to be used by Mississippi County, Poinsett County, Cross County, St. Francis County, and Lee County to defray the cost of hospitalization and other medical services of indigent Arkansas patients in healthcare facilities for which the county has not received total reimbursement.

(2) Each county shall certify to the Chief Fiscal Officer of the State the amount of the unreimbursed medical expenses under such procedures and such detail as required by the Department of Finance and Administration.

(3) The amount available to each county shall be no more than one-fifth (1/5) of the total funds available or the amount certified of unreimbursed medical expenses, whichever is less.

(c) The commission is authorized to allow each dog racing franchise holder to conduct two (2) additional days of racing at any dog racing meet. The net proceeds derived from these additional days shall be deposited with the city treasurer or collector of the city in which the dog racing track is located for credit to the city general fund to be used for providing assistance and relief to disaster victims, indigent persons, organizations which assist such persons, and for education purposes.

Amended by Act 2016F, No. 140,§ 13, eff. 7/1/2016.

Acts 1985, No. 924, § 4; A.S.A. 1947, § 84-2851; Acts 1987, No. 383, § 3; 1989, No. 238, § 2; 2001, No. 1666, § 22.
Ark. Code Ann. § 23-119-102 — AR Code / Title 23 / Chapter 119 / Section 23-119-102
Definitions
Status: in_force

As used in this chapter: (1) "Blockchain network" means a group of computers operating and processing together to execute a consensus mechanism to agree upon and verify data in a digital record for the purpose of generating digital assets; (2) "Digital assets" means cryptocurrency, virtual currency, and natively electronic assets, including without limitation stable coins, nonfungible tokens, and other digital-only assets, that confer economic rights or powers; (3) "Digital asset mining business" means a group of computers working at a single site that consumes more than one megawatt (1 MW) of electrical energy on an average annual basis for the purpose of generating digital assets by securing a blockchain network; and (4) "Local government" means a county, a city of the first class, a city of the second class, or an incorporated town. Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.

As used in this chapter:

(1) "Blockchain network" means a group of computers operating and processing together to execute a consensus mechanism to agree upon and verify data in a digital record for the purpose of generating digital assets;

(2) "Digital assets" means cryptocurrency, virtual currency, and natively electronic assets, including without limitation stable coins, nonfungible tokens, and other digital-only assets, that confer economic rights or powers;

(3) "Digital asset mining business" means a group of computers working at a single site that consumes more than one megawatt (1 MW) of electrical energy on an average annual basis for the purpose of generating digital assets by securing a blockchain network; and

(4) "Local government" means a county, a city of the first class, a city of the second class, or an incorporated town.

Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Ark. Code Ann. § 23-99-1202 — AR Code / Title 23 / Chapter 99 / Subchapter 12 / Section 23-99-1202
Definitions
Status: in_force

As used in this subchapter: (1) "Affiliate" means an entity that controls, is controlled by, or is under common control with a healthcare insurer; (2) "All-products clause" means a provision in a healthcare contract that requires a healthcare provider, as a condition of participation or continuation in a provider network or a health benefit plan, to: (A) Serve in another provider network utilized by the contracting entity or a healthcare insurer affiliated with the contracting entity; or (B) Provide healthcare services under another health benefit plan or product offered by a contracting entity or a healthcare insurer affiliated with the contracting entity; (3) "Contracting entity" means a healthcare insurer or a subcontractor, affiliate, or other entity that contracts directly or indirectly with a healthcare provider for the delivery of healthcare services to enrollees; (4) "Enrollee" means an individual who is entitled to receive healthcare services under the terms of a health benefit plan; (5) (A) "Health benefit plan" means a plan, policy, contract, certificate, agreement, or other evidence of coverage for healthcare services offered or issued by a healthcare insurer in this state. (B) "Health benefit plan" includes: (i) A nonfederal governmental plan as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2023; and (ii) A contract for providing benefits for dental care pursuant to: (a) A healthcare insurance policy or certificate; (b) A dental-only plan; (c) A health maintenance organization provider contract; or (d) A managed healthcare plan. (C) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) A medical payment under automobile or homeowners insurance plans; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A long-term care only plan; or (x) A vision-only plan; (6) "Healthcare contract" means a contract entered into, materially amended, or renewed between a contracting entity and a healthcare provider for the delivery of healthcare services to enrollees; (7) (A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state. (B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; (v) A sponsor of a nonfederal self-funded governmental plan; and (vi) A dental-only plan; (8) "Healthcare provider" means a person or entity that is licensed, certified, or otherwise authorized by the laws of this state to provide healthcare services; (9) (A) "Healthcare services" means services or goods provided for the purpose of or incidental to the purpose of preventing, diagnosing, treating, alleviating, relieving, curing, or healing human illness, disease, condition, disability, or injury. (B) "Healthcare services" includes services for the diagnosis, prevention, treatment, or cure of a dental condition, illness, injury, or disease; (10) "Material amendment" means a change in a healthcare contract that results in: (A) A decrease in fees, payments, or reimbursement to a participating healthcare provider; (B) A change in the payment methodology for determining fees, payments, or reimbursement to a participating healthcare provider; (C) A new or revised coding guideline; (D) A new or revised payment rule; or (E) A change of procedures that may reasonably be expected to significantly increase a healthcare provider's administrative expenses; (11) "Most favored nation clause" means a provision in a healthcare contract that: (A) Prohibits or grants a contracting entity an option to prohibit a participating healthcare provider from contracting with another contracting entity to provide healthcare services at a lower price than the payment specified in the healthcare contract; (B) Requires or grants a contracting entity an option to require a participating healthcare provider to accept a lower payment in the event the participating healthcare provider agrees to provide healthcare services to another contracting entity at a lower price; (C) Requires or grants a contracting entity an option to require termination or renegotiation of an existing healthcare contract if a participating healthcare provider agrees to provide healthcare services to another contracting entity at a lower price; or (D) Requires a participating healthcare provider to disclose the participating healthcare provider's contractual reimbursement rates with other contracting entities; (12) "Participating healthcare provider" means a healthcare provider that has a healthcare contract with a contracting entity to provide healthcare services to enrollees with the expectation of receiving payment from the contracting entity or a healthcare insurer affiliated with the contracting entity; and (13) "Provider network" means a group of healthcare providers that are contracted to provide healthcare services to enrollees at contracted rates. Amended by Act 2023, No. 576,§ 4, eff. 8/1/2023. Amended by Act 2023, No. 576,§ 3, eff. 8/1/2023. Amended by Act 2023, No. 576,§ 2, eff. 8/1/2023. Amended by Act 2023, No. 576,§ 1, eff. 8/1/2023. Added by Act 2019, No. 734,§ 1, eff. 7/24/2019.

As used in this subchapter:

(1) "Affiliate" means an entity that controls, is controlled by, or is under common control with a healthcare insurer;

(2) "All-products clause" means a provision in a healthcare contract that requires a healthcare provider, as a condition of participation or continuation in a provider network or a health benefit plan, to: (A) Serve in another provider network utilized by the contracting entity or a healthcare insurer affiliated with the contracting entity; or (B) Provide healthcare services under another health benefit plan or product offered by a contracting entity or a healthcare insurer affiliated with the contracting entity;

(A) Serve in another provider network utilized by the contracting entity or a healthcare insurer affiliated with the contracting entity; or

(B) Provide healthcare services under another health benefit plan or product offered by a contracting entity or a healthcare insurer affiliated with the contracting entity;

(3) "Contracting entity" means a healthcare insurer or a subcontractor, affiliate, or other entity that contracts directly or indirectly with a healthcare provider for the delivery of healthcare services to enrollees;

(4) "Enrollee" means an individual who is entitled to receive healthcare services under the terms of a health benefit plan;

(5) (A) "Health benefit plan" means a plan, policy, contract, certificate, agreement, or other evidence of coverage for healthcare services offered or issued by a healthcare insurer in this state. (B) "Health benefit plan" includes: (i) A nonfederal governmental plan as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2023; and (ii) A contract for providing benefits for dental care pursuant to: (a) A healthcare insurance policy or certificate; (b) A dental-only plan; (c) A health maintenance organization provider contract; or (d) A managed healthcare plan. (C) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) A medical payment under automobile or homeowners insurance plans; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A long-term care only plan; or (x) A vision-only plan;

(A) "Health benefit plan" means a plan, policy, contract, certificate, agreement, or other evidence of coverage for healthcare services offered or issued by a healthcare insurer in this state.

(B) "Health benefit plan" includes: (i) A nonfederal governmental plan as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2023; and (ii) A contract for providing benefits for dental care pursuant to: (a) A healthcare insurance policy or certificate; (b) A dental-only plan; (c) A health maintenance organization provider contract; or (d) A managed healthcare plan.

(i) A nonfederal governmental plan as defined in 29 U.S.C. § 1002(32) , as it existed on January 1, 2023; and

(ii) A contract for providing benefits for dental care pursuant to: (a) A healthcare insurance policy or certificate; (b) A dental-only plan; (c) A health maintenance organization provider contract; or (d) A managed healthcare plan.

(a) A healthcare insurance policy or certificate;

(b) A dental-only plan;

(c) A health maintenance organization provider contract; or

(d) A managed healthcare plan.

(C) "Health benefit plan" does not include: (i) A disability income plan; (ii) A credit insurance plan; (iii) Insurance coverage issued as a supplement to liability insurance; (iv) A medical payment under automobile or homeowners insurance plans; (v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.; (vi) A plan that provides only indemnity for hospital confinement; (vii) An accident-only plan; (viii) A specified disease plan; (ix) A long-term care only plan; or (x) A vision-only plan;

(i) A disability income plan;

(ii) A credit insurance plan;

(iii) Insurance coverage issued as a supplement to liability insurance;

(iv) A medical payment under automobile or homeowners insurance plans;

(v) A health benefit plan provided under Arkansas Constitution, Article 5, § 32, the Workers' Compensation Law, § 11-9-101 et seq., or the Public Employee Workers' Compensation Act, § 21-5-601 et seq.;

(vi) A plan that provides only indemnity for hospital confinement;

(vii) An accident-only plan;

(viii) A specified disease plan;

(ix) A long-term care only plan; or

(x) A vision-only plan;

(6) "Healthcare contract" means a contract entered into, materially amended, or renewed between a contracting entity and a healthcare provider for the delivery of healthcare services to enrollees;

(7) (A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state. (B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; (v) A sponsor of a nonfederal self-funded governmental plan; and (vi) A dental-only plan;

(A) "Healthcare insurer" means an entity that is subject to state insurance regulation and provides health insurance in this state.

(B) "Healthcare insurer" includes: (i) An insurance company; (ii) A health maintenance organization; (iii) A hospital and medical service corporation; (iv) A risk-based provider organization; (v) A sponsor of a nonfederal self-funded governmental plan; and (vi) A dental-only plan;

(i) An insurance company;

(ii) A health maintenance organization;

(iii) A hospital and medical service corporation;

(iv) A risk-based provider organization;

(v) A sponsor of a nonfederal self-funded governmental plan; and

(vi) A dental-only plan;

(8) "Healthcare provider" means a person or entity that is licensed, certified, or otherwise authorized by the laws of this state to provide healthcare services;

(9) (A) "Healthcare services" means services or goods provided for the purpose of or incidental to the purpose of preventing, diagnosing, treating, alleviating, relieving, curing, or healing human illness, disease, condition, disability, or injury. (B) "Healthcare services" includes services for the diagnosis, prevention, treatment, or cure of a dental condition, illness, injury, or disease;

(A) "Healthcare services" means services or goods provided for the purpose of or incidental to the purpose of preventing, diagnosing, treating, alleviating, relieving, curing, or healing human illness, disease, condition, disability, or injury.

(B) "Healthcare services" includes services for the diagnosis, prevention, treatment, or cure of a dental condition, illness, injury, or disease;

(10) "Material amendment" means a change in a healthcare contract that results in: (A) A decrease in fees, payments, or reimbursement to a participating healthcare provider; (B) A change in the payment methodology for determining fees, payments, or reimbursement to a participating healthcare provider; (C) A new or revised coding guideline; (D) A new or revised payment rule; or (E) A change of procedures that may reasonably be expected to significantly increase a healthcare provider's administrative expenses;

(A) A decrease in fees, payments, or reimbursement to a participating healthcare provider;

(B) A change in the payment methodology for determining fees, payments, or reimbursement to a participating healthcare provider;

(C) A new or revised coding guideline;

(D) A new or revised payment rule; or

(E) A change of procedures that may reasonably be expected to significantly increase a healthcare provider's administrative expenses;

(11) "Most favored nation clause" means a provision in a healthcare contract that: (A) Prohibits or grants a contracting entity an option to prohibit a participating healthcare provider from contracting with another contracting entity to provide healthcare services at a lower price than the payment specified in the healthcare contract; (B) Requires or grants a contracting entity an option to require a participating healthcare provider to accept a lower payment in the event the participating healthcare provider agrees to provide healthcare services to another contracting entity at a lower price; (C) Requires or grants a contracting entity an option to require termination or renegotiation of an existing healthcare contract if a participating healthcare provider agrees to provide healthcare services to another contracting entity at a lower price; or (D) Requires a participating healthcare provider to disclose the participating healthcare provider's contractual reimbursement rates with other contracting entities;

(A) Prohibits or grants a contracting entity an option to prohibit a participating healthcare provider from contracting with another contracting entity to provide healthcare services at a lower price than the payment specified in the healthcare contract;

(B) Requires or grants a contracting entity an option to require a participating healthcare provider to accept a lower payment in the event the participating healthcare provider agrees to provide healthcare services to another contracting entity at a lower price;

(C) Requires or grants a contracting entity an option to require termination or renegotiation of an existing healthcare contract if a participating healthcare provider agrees to provide healthcare services to another contracting entity at a lower price; or

(D) Requires a participating healthcare provider to disclose the participating healthcare provider's contractual reimbursement rates with other contracting entities;

(12) "Participating healthcare provider" means a healthcare provider that has a healthcare contract with a contracting entity to provide healthcare services to enrollees with the expectation of receiving payment from the contracting entity or a healthcare insurer affiliated with the contracting entity; and

(13) "Provider network" means a group of healthcare providers that are contracted to provide healthcare services to enrollees at contracted rates.

Amended by Act 2023, No. 576,§ 4, eff. 8/1/2023.

Amended by Act 2023, No. 576,§ 3, eff. 8/1/2023.

Amended by Act 2023, No. 576,§ 2, eff. 8/1/2023.

Amended by Act 2023, No. 576,§ 1, eff. 8/1/2023.

Added by Act 2019, No. 734,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 23-63-1405 — AR Code / Title 23 / Chapter 63 / Subchapter 14 / Section 23-63-1405
Rules
Status: in_force

The Insurance Commissioner may adopt reasonable rules for the implementation and administration of the provisions of this subchapter. Amended by Act 2019, No. 315,§ 2639, eff. 7/24/2019. Acts 1995, No. 625, § 1.

The Insurance Commissioner may adopt reasonable rules for the implementation and administration of the provisions of this subchapter.

Amended by Act 2019, No. 315,§ 2639, eff. 7/24/2019.

Acts 1995, No. 625, § 1.
Ark. Code Ann. § 23-64-302 — AR Code / Title 23 / Chapter 64 / Subchapter 3 / Section 23-64-302
Requirements for licensees - Exceptions
Status: in_force

The provisions of this subchapter shall not apply to: (1) Those natural persons holding licenses for any kind or kinds of insurance for which an examination is not required by the laws of this state; (2) Any limited or restricted license the Insurance Commissioner may exempt; (3) Any natural person who is at least sixty (60) years of age; (4) Any natural person who has held an active license as an agent, solicitor, consultant, or broker for a period of at least fifteen (15) consecutive years; (5) The licensee as a firm, limited liability company, or corporation, but this exception does not apply to any individual or natural person unless already exempted; (6) Nonresident producers; (7) Licensed insurance consultants for life, accident and health, property, or casualty insurance or for other lines of insurance; (8) Nonresident agents and brokers in the first full year of resident licensing following the year after a change in the state of domicile or residency to the State of Arkansas, but thereafter annually or otherwise in accordance with insurance continuing education laws and rules of the commissioner; and (9) A member of the Arkansas National Guard on state active duty or a member of the United States Armed Forces on active duty, including without limitation an active duty member of the: (A) United States Coast Guard; or (B) Reserve components of the United States Armed Forces. Amended by Act 2019, No. 315,§ 2651, eff. 7/24/2019. Amended by Act 2019, No. 462,§ 18, eff. 7/24/2019. Acts 1989, No. 445, § 1; 1993, No. 901, § 30; 1997, No. 1004, § 1; 1999, No. 657, § 8; 2001, No. 1603, § 21; 2003, No. 1784, § 2; 2005, No. 1697, § 5.

The provisions of this subchapter shall not apply to:

(1) Those natural persons holding licenses for any kind or kinds of insurance for which an examination is not required by the laws of this state;

(2) Any limited or restricted license the Insurance Commissioner may exempt;

(3) Any natural person who is at least sixty (60) years of age;

(4) Any natural person who has held an active license as an agent, solicitor, consultant, or broker for a period of at least fifteen (15) consecutive years;

(5) The licensee as a firm, limited liability company, or corporation, but this exception does not apply to any individual or natural person unless already exempted;

(6) Nonresident producers;

(7) Licensed insurance consultants for life, accident and health, property, or casualty insurance or for other lines of insurance;

(8) Nonresident agents and brokers in the first full year of resident licensing following the year after a change in the state of domicile or residency to the State of Arkansas, but thereafter annually or otherwise in accordance with insurance continuing education laws and rules of the commissioner; and

(9) A member of the Arkansas National Guard on state active duty or a member of the United States Armed Forces on active duty, including without limitation an active duty member of the: (A) United States Coast Guard; or (B) Reserve components of the United States Armed Forces.

(A) United States Coast Guard; or

(B) Reserve components of the United States Armed Forces.

Amended by Act 2019, No. 315,§ 2651, eff. 7/24/2019.

Amended by Act 2019, No. 462,§ 18, eff. 7/24/2019.

Acts 1989, No. 445, § 1; 1993, No. 901, § 30; 1997, No. 1004, § 1; 1999, No. 657, § 8; 2001, No. 1603, § 21; 2003, No. 1784, § 2; 2005, No. 1697, § 5.
Ark. Code Ann. § 23-18-326 — AR Code / Title 23 / Chapter 18 / Subchapter 3 / Section 23-18-326
Filing fees
Status: in_force

The Secretary of State shall charge and collect for: (1) Filing articles of incorporation and issuing a certificate of incorporation - ten dollars ($10.00); (2) Filing of articles of amendment and issuing a certificate of amendment - ten dollars ($10.00); (3) Filing articles of consolidation and issuing a certificate with respect to consolidation - ten dollars ($10.00); and (4) Filing articles of dissolution - one dollar ($1.00). Acts 1937, No. 342, § 29; Pope's Dig., § 2343; A.S.A. 1947, § 77-1129.

The Secretary of State shall charge and collect for:

(1) Filing articles of incorporation and issuing a certificate of incorporation - ten dollars ($10.00);

(2) Filing of articles of amendment and issuing a certificate of amendment - ten dollars ($10.00);

(3) Filing articles of consolidation and issuing a certificate with respect to consolidation - ten dollars ($10.00); and

(4) Filing articles of dissolution - one dollar ($1.00).

Acts 1937, No. 342, § 29; Pope's Dig., § 2343; A.S.A. 1947, § 77-1129.
Ark. Code Ann. § 23-79-144 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-144
Minor children - Certain provisions denying or restricting coverage void
Status: in_force

(a) (1) No contract of individual or group healthcare coverage sold, delivered, issued for delivery, renewed, or offered for sale in this state by any insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall, directly or indirectly, restrict or deny healthcare coverage due to the fact that the minor child does not reside with the noncustodial parent or that the parent-child relationship was established through a paternity action or that the minor child is covered through the state-administered Medicaid program or that the minor child is not claimed as a dependent on the noncustodial parent's federal or state income tax return. (2) (A) Furthermore, no insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall, directly or indirectly, restrict or deny benefits to a minor child because the child lives outside of its service area. (B) Benefits provided outside the service area shall be in accordance with the terms and conditions of the healthcare plan. (C) All contracts of individual or group healthcare coverage sold, delivered, issued for delivery, renewed, or offered for sale in this state by any insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall provide for the immediate enrollment of the minor child or children. (b) Any insurance policy provision which would deny or restrict coverage to a minor child under such circumstances shall be void as against public policy. Acts 1991, No. 368, § 3; 1995, No. 1179, § 2.

(a) (1) No contract of individual or group healthcare coverage sold, delivered, issued for delivery, renewed, or offered for sale in this state by any insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall, directly or indirectly, restrict or deny healthcare coverage due to the fact that the minor child does not reside with the noncustodial parent or that the parent-child relationship was established through a paternity action or that the minor child is covered through the state-administered Medicaid program or that the minor child is not claimed as a dependent on the noncustodial parent's federal or state income tax return. (2) (A) Furthermore, no insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall, directly or indirectly, restrict or deny benefits to a minor child because the child lives outside of its service area. (B) Benefits provided outside the service area shall be in accordance with the terms and conditions of the healthcare plan. (C) All contracts of individual or group healthcare coverage sold, delivered, issued for delivery, renewed, or offered for sale in this state by any insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall provide for the immediate enrollment of the minor child or children.

(1) No contract of individual or group healthcare coverage sold, delivered, issued for delivery, renewed, or offered for sale in this state by any insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall, directly or indirectly, restrict or deny healthcare coverage due to the fact that the minor child does not reside with the noncustodial parent or that the parent-child relationship was established through a paternity action or that the minor child is covered through the state-administered Medicaid program or that the minor child is not claimed as a dependent on the noncustodial parent's federal or state income tax return.

(2) (A) Furthermore, no insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall, directly or indirectly, restrict or deny benefits to a minor child because the child lives outside of its service area. (B) Benefits provided outside the service area shall be in accordance with the terms and conditions of the healthcare plan. (C) All contracts of individual or group healthcare coverage sold, delivered, issued for delivery, renewed, or offered for sale in this state by any insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall provide for the immediate enrollment of the minor child or children.

(A) Furthermore, no insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall, directly or indirectly, restrict or deny benefits to a minor child because the child lives outside of its service area.

(B) Benefits provided outside the service area shall be in accordance with the terms and conditions of the healthcare plan.

(C) All contracts of individual or group healthcare coverage sold, delivered, issued for delivery, renewed, or offered for sale in this state by any insurer, health maintenance organization, self-funded group, multiple-employer welfare arrangement, or hospital or medical services corporation shall provide for the immediate enrollment of the minor child or children.

(b) Any insurance policy provision which would deny or restrict coverage to a minor child under such circumstances shall be void as against public policy.

Acts 1991, No. 368, § 3; 1995, No. 1179, § 2.
Ark. Code Ann. § 23-55-206 — AR Code / Title 23 / Chapter 55 / Section 23-55-206
Renewal of license
Status: in_force

(a) A licensee under this article shall pay an annual renewal fee of $750 no later than December 31 in order to be licensed for the next calendar year. (b) A licensee under this article shall submit a renewal report with the renewal fee, in a form prescribed by the commissioner. The renewal report must state or contain: (1) a list of the licensee's permissible investments and a certification that the licensee continues to maintain permissible investments according to the requirements set forth in §§ 23-55-701 and 23-55-702 ; and (2) proof that the licensee continues to maintain an adequate surety bond as required by § 23-55-204 . (c) A licensee shall comply with subsections (a) and (b) within thirty (30) days of the renewal date. (d) The commissioner for good cause may grant an extension of the renewal date. Amended by Act 2021, No. 532,§ 12, eff. 7/28/2021. Amended by Act 2021, No. 532,§ 11, eff. 7/28/2021. Amended by Act 2019, No. 111,§ 3, eff. 7/24/2019. Amended by Act 2017, No. 620,§ 2, eff. 8/1/2017. Amended by Act 2013, No. 531,§ 6, eff. 8/16/2013. Acts 2007, No. 1595, § 1; 2011, No. 733, § 6.

(a) A licensee under this article shall pay an annual renewal fee of $750 no later than December 31 in order to be licensed for the next calendar year.

(b) A licensee under this article shall submit a renewal report with the renewal fee, in a form prescribed by the commissioner. The renewal report must state or contain: (1) a list of the licensee's permissible investments and a certification that the licensee continues to maintain permissible investments according to the requirements set forth in §§ 23-55-701 and 23-55-702 ; and (2) proof that the licensee continues to maintain an adequate surety bond as required by § 23-55-204 .

(1) a list of the licensee's permissible investments and a certification that the licensee continues to maintain permissible investments according to the requirements set forth in §§ 23-55-701 and 23-55-702 ; and

(2) proof that the licensee continues to maintain an adequate surety bond as required by § 23-55-204 .

(c) A licensee shall comply with subsections (a) and (b) within thirty (30) days of the renewal date.

(d) The commissioner for good cause may grant an extension of the renewal date.

Amended by Act 2021, No. 532,§ 12, eff. 7/28/2021.

Amended by Act 2021, No. 532,§ 11, eff. 7/28/2021.

Amended by Act 2019, No. 111,§ 3, eff. 7/24/2019.

Amended by Act 2017, No. 620,§ 2, eff. 8/1/2017.

Amended by Act 2013, No. 531,§ 6, eff. 8/16/2013.

Acts 2007, No. 1595, § 1; 2011, No. 733, § 6.
Ark. Code Ann. § 23-79-1205 — AR Code / Title 23 / Chapter 79 / Subchapter 12 / Section 23-79-1205
Coverage by participating providers - Selection criteria and utilization protocols - Maximum benefits - Exclusions
Status: in_force

(a) (1) This subchapter does not require and shall not be construed to require the coverage of services by providers who are not designated as covered providers or that are not selected as a participating provider by a group health benefit plan or insurer having a participating network of service providers. (2) This subchapter does not expand the list or designation of participating providers as specified in any health benefit plan. (b) Insurers or other issuers of any health benefit plan covered by this subchapter may continue to establish and apply selection criteria and utilization protocols for healthcare providers including: (1) The designation of types of providers for which coverage is provided; and (2) Credentialing criteria used in the selection of providers. (c) A healthcare policy that provides coverage for the services offered under this subchapter may contain provisions for maximum benefits and coinsurance limitations, deductibles, exclusions, and utilization review protocols to the extent that the provisions are not inconsistent with the requirements of this subchapter. Acts 2005, No. 2236, § 2.

(a) (1) This subchapter does not require and shall not be construed to require the coverage of services by providers who are not designated as covered providers or that are not selected as a participating provider by a group health benefit plan or insurer having a participating network of service providers. (2) This subchapter does not expand the list or designation of participating providers as specified in any health benefit plan.

(1) This subchapter does not require and shall not be construed to require the coverage of services by providers who are not designated as covered providers or that are not selected as a participating provider by a group health benefit plan or insurer having a participating network of service providers.

(2) This subchapter does not expand the list or designation of participating providers as specified in any health benefit plan.

(b) Insurers or other issuers of any health benefit plan covered by this subchapter may continue to establish and apply selection criteria and utilization protocols for healthcare providers including: (1) The designation of types of providers for which coverage is provided; and (2) Credentialing criteria used in the selection of providers.

(1) The designation of types of providers for which coverage is provided; and

(2) Credentialing criteria used in the selection of providers.

(c) A healthcare policy that provides coverage for the services offered under this subchapter may contain provisions for maximum benefits and coinsurance limitations, deductibles, exclusions, and utilization review protocols to the extent that the provisions are not inconsistent with the requirements of this subchapter.

Acts 2005, No. 2236, § 2.