Ark. Code Ann. § 23-42-204 — AR Code / Title 23 / Chapter 42 / Subchapter 2 / Section 23-42-204
Rules, forms, and orders of Securities Commissioner
Status: in_force

(a) The Securities Commissioner, from time to time, may make, amend, and rescind any rules, forms, and orders which are necessary to carry out the provisions of this chapter. This includes rules and forms governing registration statements, applications, notice filings, and reports and defining any terms, whether or not used in this chapter, insofar as the definitions are not inconsistent with the provisions of this chapter. For the purpose of rules and forms, the commissioner may classify securities, persons, and matters within his or her jurisdiction and prescribe different requirements for different classes. (b) No rule, form, or order may be made, amended, or rescinded unless the commissioner finds that the action is necessary or appropriate in the public interest, or for the protection of investors, and consistent with the purposes fairly intended by the policy and provisions of this chapter. (c) (1) In prescribing rules and forms, the commissioner may cooperate with the securities administrators of the other states, individually and as a group represented by the North American Securities Administrators Association, with the Securities and Exchange Commission, and with self-regulatory organizations with a view to effectuating the policy of this chapter to achieve maximum uniformity in the form and content of registration statements, applications, rules, and reports wherever practicable. (2) When the commissioner incorporates by reference in the rules and forms of the commissioner a form, rule, or portion thereof in accordance with this subsection, any change in that form, rule, or portion thereof shall become part of the rules and forms of the commissioner, unless the commissioner shall by order decline to accept the change within thirty (30) days of its adoption or promulgation. (d) (1) The commissioner may by rule or order prescribe: (A) The form and content of financial statements required under this chapter; (B) The circumstances under which consolidated financial statements shall be filed; and (C) Whether any required financial statements shall be certified by independent or certified public accountants. (2) All financial statements shall be prepared in accordance with generally accepted accounting practices. (e) All rules and forms of the commissioner shall be published. (f) No provision of this chapter imposing any liability applies to any act done or omitted in good faith in conformity with any rule, form, or order of the commissioner, notwithstanding that the rule, form, or order may later be amended or rescinded or be determined by judicial or other authority to be invalid for any reason. (g) (1) The commissioner may by order require an issuer, broker-dealer, or agent to obtain from the purchaser, in any initial sale of a security effected by means of a prospectus, a written statement signed by the purchaser that he or she had received a copy of the prospectus prior to his or her purchase of the security. (2) The order may require the issuer, broker-dealer, or agent to keep a copy of the written statement at the principal office of the issuer, broker-dealer, or agent, subject to inspection by the commissioner or his or her agent for a period not to exceed two (2) years. (3) This subsection shall not be applicable to the subsequent sale of the same securities to the same purchaser. Acts 1959, No. 254, § 24; 1963, No. 479, § 4; A.S.A. 1947, § 67-1258; Acts 1995, No. 845, § 5; 1997, No. 173, § 6.

(a) The Securities Commissioner, from time to time, may make, amend, and rescind any rules, forms, and orders which are necessary to carry out the provisions of this chapter. This includes rules and forms governing registration statements, applications, notice filings, and reports and defining any terms, whether or not used in this chapter, insofar as the definitions are not inconsistent with the provisions of this chapter. For the purpose of rules and forms, the commissioner may classify securities, persons, and matters within his or her jurisdiction and prescribe different requirements for different classes.

(b) No rule, form, or order may be made, amended, or rescinded unless the commissioner finds that the action is necessary or appropriate in the public interest, or for the protection of investors, and consistent with the purposes fairly intended by the policy and provisions of this chapter.

(c) (1) In prescribing rules and forms, the commissioner may cooperate with the securities administrators of the other states, individually and as a group represented by the North American Securities Administrators Association, with the Securities and Exchange Commission, and with self-regulatory organizations with a view to effectuating the policy of this chapter to achieve maximum uniformity in the form and content of registration statements, applications, rules, and reports wherever practicable. (2) When the commissioner incorporates by reference in the rules and forms of the commissioner a form, rule, or portion thereof in accordance with this subsection, any change in that form, rule, or portion thereof shall become part of the rules and forms of the commissioner, unless the commissioner shall by order decline to accept the change within thirty (30) days of its adoption or promulgation.

(1) In prescribing rules and forms, the commissioner may cooperate with the securities administrators of the other states, individually and as a group represented by the North American Securities Administrators Association, with the Securities and Exchange Commission, and with self-regulatory organizations with a view to effectuating the policy of this chapter to achieve maximum uniformity in the form and content of registration statements, applications, rules, and reports wherever practicable.

(2) When the commissioner incorporates by reference in the rules and forms of the commissioner a form, rule, or portion thereof in accordance with this subsection, any change in that form, rule, or portion thereof shall become part of the rules and forms of the commissioner, unless the commissioner shall by order decline to accept the change within thirty (30) days of its adoption or promulgation.

(d) (1) The commissioner may by rule or order prescribe: (A) The form and content of financial statements required under this chapter; (B) The circumstances under which consolidated financial statements shall be filed; and (C) Whether any required financial statements shall be certified by independent or certified public accountants. (2) All financial statements shall be prepared in accordance with generally accepted accounting practices.

(1) The commissioner may by rule or order prescribe: (A) The form and content of financial statements required under this chapter; (B) The circumstances under which consolidated financial statements shall be filed; and (C) Whether any required financial statements shall be certified by independent or certified public accountants.

(A) The form and content of financial statements required under this chapter;

(B) The circumstances under which consolidated financial statements shall be filed; and

(C) Whether any required financial statements shall be certified by independent or certified public accountants.

(2) All financial statements shall be prepared in accordance with generally accepted accounting practices.

(e) All rules and forms of the commissioner shall be published.

(f) No provision of this chapter imposing any liability applies to any act done or omitted in good faith in conformity with any rule, form, or order of the commissioner, notwithstanding that the rule, form, or order may later be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.

(g) (1) The commissioner may by order require an issuer, broker-dealer, or agent to obtain from the purchaser, in any initial sale of a security effected by means of a prospectus, a written statement signed by the purchaser that he or she had received a copy of the prospectus prior to his or her purchase of the security. (2) The order may require the issuer, broker-dealer, or agent to keep a copy of the written statement at the principal office of the issuer, broker-dealer, or agent, subject to inspection by the commissioner or his or her agent for a period not to exceed two (2) years. (3) This subsection shall not be applicable to the subsequent sale of the same securities to the same purchaser.

(1) The commissioner may by order require an issuer, broker-dealer, or agent to obtain from the purchaser, in any initial sale of a security effected by means of a prospectus, a written statement signed by the purchaser that he or she had received a copy of the prospectus prior to his or her purchase of the security.

(2) The order may require the issuer, broker-dealer, or agent to keep a copy of the written statement at the principal office of the issuer, broker-dealer, or agent, subject to inspection by the commissioner or his or her agent for a period not to exceed two (2) years.

(3) This subsection shall not be applicable to the subsequent sale of the same securities to the same purchaser.

Acts 1959, No. 254, § 24; 1963, No. 479, § 4; A.S.A. 1947, § 67-1258; Acts 1995, No. 845, § 5; 1997, No. 173, § 6.
Ark. Code Ann. § 23-18-530 — AR Code / Title 23 / Chapter 18 / Subchapter 5 / Section 23-18-530
Treatment of major utility facility generating plant
Status: in_force

Except as provided under § 23-18-504(a) , electric utility systems or facilities owned by a municipal electric consolidated authority created under the Arkansas Municipal Electric Utility Interlocal Cooperation Act of 2003, § 25-20-401 et seq., shall be subject to this subchapter. Acts 2003, No. 366, § 7; 2007, No. 475, § 1.

Except as provided under § 23-18-504(a) , electric utility systems or facilities owned by a municipal electric consolidated authority created under the Arkansas Municipal Electric Utility Interlocal Cooperation Act of 2003, § 25-20-401 et seq., shall be subject to this subchapter.

Acts 2003, No. 366, § 7; 2007, No. 475, § 1.
Ark. Code Ann. § 23-63-1608 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1608
Examinations
Status: in_force

(a) (1) At least one (1) time every five (5) years, or whenever the Insurance Commissioner determines it to be prudent, the commissioner or a person appointed by the commissioner shall visit each captive insurance company and thoroughly inspect and examine its affairs to ascertain its financial condition, its ability to fulfill its obligations, and whether or not it has complied with this subchapter. (2) The expenses and charges of the examination shall be paid to the state by the company or companies examined, according to the Arkansas Insurance Code. (b) (1) All examination reports, preliminary examination reports or results, working papers, recorded information, and documents and copies of documents produced by, obtained by, or disclosed to the commissioner or any other person in the course of an examination made under this section, are confidential and are not subject to subpoena and may not be made public by the commissioner or an employee or agent of the commissioner without the written consent of the company, except to the extent provided in this subsection. (2) Nothing in this subsection prevents the commissioner from using this information in furtherance of the commissioner's regulatory authority under the Arkansas Insurance Code. (3) The commissioner may grant access to this information under § 23-61-107 or to public officers having jurisdiction over the regulation of insurance in any other state or country or to law enforcement officers of this state or any other state or agency of the United States Government at any time, so long as the officers receiving the information agree in writing to hold it in a manner consistent with this section. (c) (1) (A) This section applies to all business written by a captive insurance company. (B) The examination for a branch captive insurance company must be of branch business and branch operations only, as long as the branch captive insurance company: (i) Provides annually to the commissioner a certificate of compliance or its equivalent issued by or filed with the licensing authority of the jurisdiction in which the branch captive insurance company is formed; and (ii) Demonstrates to the commissioner's satisfaction that it is operating in sound financial condition in accordance with all applicable laws and regulations of that jurisdiction. (2) As a condition of licensure, the alien captive insurance company shall grant authority to the commissioner for examination of the affairs of the alien captive insurance company in the jurisdiction in which the alien captive insurance company is formed. (d) To the extent that § 23-61-201 et seq. does not contradict this section, § 23-61-201 et seq. applies to captive insurance companies licensed under this subchapter. Amended by Act 2023, No. 469,§ 5, eff. 8/1/2023. Acts 2001, No. 1391, § 8.

(a) (1) At least one (1) time every five (5) years, or whenever the Insurance Commissioner determines it to be prudent, the commissioner or a person appointed by the commissioner shall visit each captive insurance company and thoroughly inspect and examine its affairs to ascertain its financial condition, its ability to fulfill its obligations, and whether or not it has complied with this subchapter. (2) The expenses and charges of the examination shall be paid to the state by the company or companies examined, according to the Arkansas Insurance Code.

(1) At least one (1) time every five (5) years, or whenever the Insurance Commissioner determines it to be prudent, the commissioner or a person appointed by the commissioner shall visit each captive insurance company and thoroughly inspect and examine its affairs to ascertain its financial condition, its ability to fulfill its obligations, and whether or not it has complied with this subchapter.

(2) The expenses and charges of the examination shall be paid to the state by the company or companies examined, according to the Arkansas Insurance Code.

(b) (1) All examination reports, preliminary examination reports or results, working papers, recorded information, and documents and copies of documents produced by, obtained by, or disclosed to the commissioner or any other person in the course of an examination made under this section, are confidential and are not subject to subpoena and may not be made public by the commissioner or an employee or agent of the commissioner without the written consent of the company, except to the extent provided in this subsection. (2) Nothing in this subsection prevents the commissioner from using this information in furtherance of the commissioner's regulatory authority under the Arkansas Insurance Code. (3) The commissioner may grant access to this information under § 23-61-107 or to public officers having jurisdiction over the regulation of insurance in any other state or country or to law enforcement officers of this state or any other state or agency of the United States Government at any time, so long as the officers receiving the information agree in writing to hold it in a manner consistent with this section.

(1) All examination reports, preliminary examination reports or results, working papers, recorded information, and documents and copies of documents produced by, obtained by, or disclosed to the commissioner or any other person in the course of an examination made under this section, are confidential and are not subject to subpoena and may not be made public by the commissioner or an employee or agent of the commissioner without the written consent of the company, except to the extent provided in this subsection.

(2) Nothing in this subsection prevents the commissioner from using this information in furtherance of the commissioner's regulatory authority under the Arkansas Insurance Code.

(3) The commissioner may grant access to this information under § 23-61-107 or to public officers having jurisdiction over the regulation of insurance in any other state or country or to law enforcement officers of this state or any other state or agency of the United States Government at any time, so long as the officers receiving the information agree in writing to hold it in a manner consistent with this section.

(c) (1) (A) This section applies to all business written by a captive insurance company. (B) The examination for a branch captive insurance company must be of branch business and branch operations only, as long as the branch captive insurance company: (i) Provides annually to the commissioner a certificate of compliance or its equivalent issued by or filed with the licensing authority of the jurisdiction in which the branch captive insurance company is formed; and (ii) Demonstrates to the commissioner's satisfaction that it is operating in sound financial condition in accordance with all applicable laws and regulations of that jurisdiction. (2) As a condition of licensure, the alien captive insurance company shall grant authority to the commissioner for examination of the affairs of the alien captive insurance company in the jurisdiction in which the alien captive insurance company is formed.

(1) (A) This section applies to all business written by a captive insurance company. (B) The examination for a branch captive insurance company must be of branch business and branch operations only, as long as the branch captive insurance company: (i) Provides annually to the commissioner a certificate of compliance or its equivalent issued by or filed with the licensing authority of the jurisdiction in which the branch captive insurance company is formed; and (ii) Demonstrates to the commissioner's satisfaction that it is operating in sound financial condition in accordance with all applicable laws and regulations of that jurisdiction.

(A) This section applies to all business written by a captive insurance company.

(B) The examination for a branch captive insurance company must be of branch business and branch operations only, as long as the branch captive insurance company: (i) Provides annually to the commissioner a certificate of compliance or its equivalent issued by or filed with the licensing authority of the jurisdiction in which the branch captive insurance company is formed; and (ii) Demonstrates to the commissioner's satisfaction that it is operating in sound financial condition in accordance with all applicable laws and regulations of that jurisdiction.

(i) Provides annually to the commissioner a certificate of compliance or its equivalent issued by or filed with the licensing authority of the jurisdiction in which the branch captive insurance company is formed; and

(ii) Demonstrates to the commissioner's satisfaction that it is operating in sound financial condition in accordance with all applicable laws and regulations of that jurisdiction.

(2) As a condition of licensure, the alien captive insurance company shall grant authority to the commissioner for examination of the affairs of the alien captive insurance company in the jurisdiction in which the alien captive insurance company is formed.

(d) To the extent that § 23-61-201 et seq. does not contradict this section, § 23-61-201 et seq. applies to captive insurance companies licensed under this subchapter.

Amended by Act 2023, No. 469,§ 5, eff. 8/1/2023.

Acts 2001, No. 1391, § 8.
Ark. Code Ann. § 23-115-605 — AR Code / Title 23 / Chapter 115 / Subchapter 6 / Section 23-115-605
Retailers - Fiduciary duty - Protection against loss
Status: in_force

(a) (1) Proceeds from the sale of tickets or shares shall be held in trust until paid to the Office of the Arkansas Lottery either directly or through the office's authorized collection representative. (2) A retailer and officers of a retailer's business have a fiduciary duty to preserve and account for retail lottery proceeds, and retailers are personally liable for all lottery proceeds. (3) For the purpose of this section, lottery proceeds include without limitation: (A) Unsold instant tickets received by a retailer; (B) Cash proceeds of the sale of lottery products; (C) Net of allowable sales commissions; and (D) Credit for lottery prizes paid to winners by retailers. (4) Sales proceeds and unused instant tickets shall be delivered to the office or its authorized collection representative upon demand. (b) (1) The office shall require retailers to place all lottery proceeds due the office in accounts in institutions insured by the Federal Deposit Insurance Corporation not later than the close of the next banking day after the date of their collection by the retailer until the date they are paid to the office. (2) At the time of the deposit, lottery proceeds shall be deemed to be the property of the office. (3) The office may require a retailer to establish a single separate electronic funds transfer account when available for the purpose of: (A) Receiving moneys from ticket or share sales; (B) Making payments to the office; and (C) Receiving payments for the office. (4) Unless authorized in writing by the office, each retailer shall establish a separate bank account for lottery proceeds that shall be kept separate and apart from all other funds and assets and shall not be commingled with any other funds or assets. (c) When an individual who receives proceeds from the sale of tickets or shares in the capacity of a retailer becomes insolvent or dies insolvent, the proceeds due the office from the individual or his or her estate have preference over all debts or demands. (d) If the office determines that a retailer failed to comply with subsection (b) of this section three (3) times within any consecutive twenty-four-month period, the office may pursue business closure against the retailer under this subchapter. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 43.

(a) (1) Proceeds from the sale of tickets or shares shall be held in trust until paid to the Office of the Arkansas Lottery either directly or through the office's authorized collection representative. (2) A retailer and officers of a retailer's business have a fiduciary duty to preserve and account for retail lottery proceeds, and retailers are personally liable for all lottery proceeds. (3) For the purpose of this section, lottery proceeds include without limitation: (A) Unsold instant tickets received by a retailer; (B) Cash proceeds of the sale of lottery products; (C) Net of allowable sales commissions; and (D) Credit for lottery prizes paid to winners by retailers. (4) Sales proceeds and unused instant tickets shall be delivered to the office or its authorized collection representative upon demand.

(1) Proceeds from the sale of tickets or shares shall be held in trust until paid to the Office of the Arkansas Lottery either directly or through the office's authorized collection representative.

(2) A retailer and officers of a retailer's business have a fiduciary duty to preserve and account for retail lottery proceeds, and retailers are personally liable for all lottery proceeds.

(3) For the purpose of this section, lottery proceeds include without limitation: (A) Unsold instant tickets received by a retailer; (B) Cash proceeds of the sale of lottery products; (C) Net of allowable sales commissions; and (D) Credit for lottery prizes paid to winners by retailers.

(A) Unsold instant tickets received by a retailer;

(B) Cash proceeds of the sale of lottery products;

(C) Net of allowable sales commissions; and

(D) Credit for lottery prizes paid to winners by retailers.

(4) Sales proceeds and unused instant tickets shall be delivered to the office or its authorized collection representative upon demand.

(b) (1) The office shall require retailers to place all lottery proceeds due the office in accounts in institutions insured by the Federal Deposit Insurance Corporation not later than the close of the next banking day after the date of their collection by the retailer until the date they are paid to the office. (2) At the time of the deposit, lottery proceeds shall be deemed to be the property of the office. (3) The office may require a retailer to establish a single separate electronic funds transfer account when available for the purpose of: (A) Receiving moneys from ticket or share sales; (B) Making payments to the office; and (C) Receiving payments for the office. (4) Unless authorized in writing by the office, each retailer shall establish a separate bank account for lottery proceeds that shall be kept separate and apart from all other funds and assets and shall not be commingled with any other funds or assets.

(1) The office shall require retailers to place all lottery proceeds due the office in accounts in institutions insured by the Federal Deposit Insurance Corporation not later than the close of the next banking day after the date of their collection by the retailer until the date they are paid to the office.

(2) At the time of the deposit, lottery proceeds shall be deemed to be the property of the office.

(3) The office may require a retailer to establish a single separate electronic funds transfer account when available for the purpose of: (A) Receiving moneys from ticket or share sales; (B) Making payments to the office; and (C) Receiving payments for the office.

(A) Receiving moneys from ticket or share sales;

(B) Making payments to the office; and

(C) Receiving payments for the office.

(4) Unless authorized in writing by the office, each retailer shall establish a separate bank account for lottery proceeds that shall be kept separate and apart from all other funds and assets and shall not be commingled with any other funds or assets.

(c) When an individual who receives proceeds from the sale of tickets or shares in the capacity of a retailer becomes insolvent or dies insolvent, the proceeds due the office from the individual or his or her estate have preference over all debts or demands.

(d) If the office determines that a retailer failed to comply with subsection (b) of this section three (3) times within any consecutive twenty-four-month period, the office may pursue business closure against the retailer under this subchapter.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 43.
Ark. Code Ann. § 23-32-501 — AR Code / Title 23 / Chapter 32 / Subchapter 5 / Section 23-32-501
Definitions
Status: in_force

In this subchapter: (1) "Account" means a contract of deposit between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, and share account; (2) "Agent" means a person authorized to make account transactions for a party; (3) "Beneficiary" means a person named as one to whom sums on deposit in an account are payable on request after the death of all parties or for whom a party is named as trustee; (4) "Devisee" means any person designated in a will to receive a testamentary disposition of real or personal property; (5) "Financial institution" means an organization authorized to do business under state or federal laws relating to financial institutions, and includes a savings bank, building and loan association, savings and loan company or association, and credit union; (6) "Party" means a person who, by the terms of an account, has a present right, subject to request, to payment from the account other than as a beneficiary or agent; (7) "Payment" of sums on deposit includes withdrawal, payment to a party or third person pursuant to check or other request, and a pledge of sums on deposit by a party, or a setoff, reduction, or other disposition of all or part of an account pursuant to a pledge; (8) "Person" means an individual, a corporation, an organization, or other legal entity; and (9) "Personal representative" includes an executor, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status. Acts 1997, No. 85, § 1.

In this subchapter:

(1) "Account" means a contract of deposit between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, and share account;

(2) "Agent" means a person authorized to make account transactions for a party;

(3) "Beneficiary" means a person named as one to whom sums on deposit in an account are payable on request after the death of all parties or for whom a party is named as trustee;

(4) "Devisee" means any person designated in a will to receive a testamentary disposition of real or personal property;

(5) "Financial institution" means an organization authorized to do business under state or federal laws relating to financial institutions, and includes a savings bank, building and loan association, savings and loan company or association, and credit union;

(6) "Party" means a person who, by the terms of an account, has a present right, subject to request, to payment from the account other than as a beneficiary or agent;

(7) "Payment" of sums on deposit includes withdrawal, payment to a party or third person pursuant to check or other request, and a pledge of sums on deposit by a party, or a setoff, reduction, or other disposition of all or part of an account pursuant to a pledge;

(8) "Person" means an individual, a corporation, an organization, or other legal entity; and

(9) "Personal representative" includes an executor, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status.

Acts 1997, No. 85, § 1.
Ark. Code Ann. § 23-55-902 — AR Code / Title 23 / Chapter 55 / Section 23-55-902
Hearings
Status: in_force

(a) Except as otherwise provided in §§ 23-55-803 and 23-55-807 , the commissioner may not suspend or revoke a license, issue an order to cease and desist, suspend or revoke the designation of an authorized delegate, or assess a civil penalty without notice and an opportunity to be heard. (b) The commissioner shall also hold a hearing when requested to do so by an applicant whose application for a license is denied. Acts 2007, No. 1595, § 1; 2011, No. 733, § 14.

(a) Except as otherwise provided in §§ 23-55-803 and 23-55-807 , the commissioner may not suspend or revoke a license, issue an order to cease and desist, suspend or revoke the designation of an authorized delegate, or assess a civil penalty without notice and an opportunity to be heard.

(b) The commissioner shall also hold a hearing when requested to do so by an applicant whose application for a license is denied.

Acts 2007, No. 1595, § 1; 2011, No. 733, § 14.
Ark. Code Ann. § 23-99-303 — AR Code / Title 23 / Chapter 99 / Subchapter 3 / Section 23-99-303
Requirements for health benefit plans
Status: in_force

A health benefit plan that includes, or may include, eye and/or vision care benefits shall: (1) Include all primary eye care providers who are selected by covered persons of the health benefit plan for the provision of all eye and/or vision care benefits provided by the health benefit plan; (2) Permit any licensed optometrist or ophthalmologist who agrees to abide by the terms, conditions, reimbursement rates, and standards of quality of the health benefit plan to serve as a primary eye care provider to any person covered by that health benefit plan; (3) Guarantee that all covered persons who are eligible for eye and/or vision care benefits under a health benefit plan shall have direct access to the primary eye care provider of their choice independent of, and without referral from, any other provider or entity; (4) (A) Assure that those plans utilizing a gatekeeper system shall designate the primary eye care provider as the gatekeeper who shall provide basic patient care and coordinate diagnostic testing, indicated treatment, and specialty referral for those covered persons in the provision of eye and/or vision care benefits. (B) (i) Nothing in this subchapter shall prevent a covered person from having direct access to that person's primary care provider, or gatekeeper, for the treatment of eye disease or injury and being reimbursed in accordance with the terms and fee schedule of the health benefit plan. (ii) However, nothing contained in this subchapter shall require payment of the monthly patient management fee by the Arkansas Medicaid Program to a primary eye care provider gatekeeper; (5) Not discriminate between individual providers or classes of providers in the amount of reimbursement, copayment, or other financial compensation for the same or essentially similar services provided by the health benefit plan; (6) Not promote or recommend any individual provider or class of providers to a covered person by any method or means; (7) Assure that all primary eye care providers selected by persons covered by a health benefit plan are included on the list of participating providers of the health benefit plan; (8) Assure that an adequate number of primary eye care providers are included to guarantee reasonable accessibility, timeliness of care, convenience, and continuity of care to covered persons; and (9) Make available to covered persons a listing of all primary eye care providers, their practice locations, and telephone numbers on a regular, timely basis. Acts 1995, No. 515, § 3; 1995, No. 1092, § 3.

A health benefit plan that includes, or may include, eye and/or vision care benefits shall:

(1) Include all primary eye care providers who are selected by covered persons of the health benefit plan for the provision of all eye and/or vision care benefits provided by the health benefit plan;

(2) Permit any licensed optometrist or ophthalmologist who agrees to abide by the terms, conditions, reimbursement rates, and standards of quality of the health benefit plan to serve as a primary eye care provider to any person covered by that health benefit plan;

(3) Guarantee that all covered persons who are eligible for eye and/or vision care benefits under a health benefit plan shall have direct access to the primary eye care provider of their choice independent of, and without referral from, any other provider or entity;

(4) (A) Assure that those plans utilizing a gatekeeper system shall designate the primary eye care provider as the gatekeeper who shall provide basic patient care and coordinate diagnostic testing, indicated treatment, and specialty referral for those covered persons in the provision of eye and/or vision care benefits. (B) (i) Nothing in this subchapter shall prevent a covered person from having direct access to that person's primary care provider, or gatekeeper, for the treatment of eye disease or injury and being reimbursed in accordance with the terms and fee schedule of the health benefit plan. (ii) However, nothing contained in this subchapter shall require payment of the monthly patient management fee by the Arkansas Medicaid Program to a primary eye care provider gatekeeper;

(A) Assure that those plans utilizing a gatekeeper system shall designate the primary eye care provider as the gatekeeper who shall provide basic patient care and coordinate diagnostic testing, indicated treatment, and specialty referral for those covered persons in the provision of eye and/or vision care benefits.

(B) (i) Nothing in this subchapter shall prevent a covered person from having direct access to that person's primary care provider, or gatekeeper, for the treatment of eye disease or injury and being reimbursed in accordance with the terms and fee schedule of the health benefit plan. (ii) However, nothing contained in this subchapter shall require payment of the monthly patient management fee by the Arkansas Medicaid Program to a primary eye care provider gatekeeper;

(i) Nothing in this subchapter shall prevent a covered person from having direct access to that person's primary care provider, or gatekeeper, for the treatment of eye disease or injury and being reimbursed in accordance with the terms and fee schedule of the health benefit plan.

(ii) However, nothing contained in this subchapter shall require payment of the monthly patient management fee by the Arkansas Medicaid Program to a primary eye care provider gatekeeper;

(5) Not discriminate between individual providers or classes of providers in the amount of reimbursement, copayment, or other financial compensation for the same or essentially similar services provided by the health benefit plan;

(6) Not promote or recommend any individual provider or class of providers to a covered person by any method or means;

(7) Assure that all primary eye care providers selected by persons covered by a health benefit plan are included on the list of participating providers of the health benefit plan;

(8) Assure that an adequate number of primary eye care providers are included to guarantee reasonable accessibility, timeliness of care, convenience, and continuity of care to covered persons; and

(9) Make available to covered persons a listing of all primary eye care providers, their practice locations, and telephone numbers on a regular, timely basis.

Acts 1995, No. 515, § 3; 1995, No. 1092, § 3.
Ark. Code Ann. § 23-48-1001 — AR Code / Title 23 / Chapter 48 / Subchapter 10 / Section 23-48-1001
Application for certificate of authority
Status: in_force

(a) An out-of-state bank that desires to operate a branch location in the State of Arkansas, whether initial entry into the state is by an interstate merger transaction or establishment of a full-service branch, shall apply for a certificate of authority to transact banking business in this state. An applicant shall deliver an application to the Bank Commissioner for filing by the consummation of an interstate merger transaction or before establishment of a full-service branch. The application shall state: (1) The name of the bank; (2) The name of the state or country under whose law it is chartered; (3) Its date of formation and period of duration; (4) The street address of its principal office; (5) The address of its registered office in this state and the name of its registered agent at that office; and (6) The number and par value, if any, of shares of the bank's capital stock owned or to be owned by residents of this state. (b) The bank shall deliver with the completed application a certificate of existence, or a document of similar import, duly authenticated by the bank supervisory agency which chartered the bank or other official having custody of the corporate records of banking institutions in the state or country under whose law it is chartered. Acts 1997, No. 408, § 20; 2011, No. 796, § 5.

(a) An out-of-state bank that desires to operate a branch location in the State of Arkansas, whether initial entry into the state is by an interstate merger transaction or establishment of a full-service branch, shall apply for a certificate of authority to transact banking business in this state. An applicant shall deliver an application to the Bank Commissioner for filing by the consummation of an interstate merger transaction or before establishment of a full-service branch. The application shall state: (1) The name of the bank; (2) The name of the state or country under whose law it is chartered; (3) Its date of formation and period of duration; (4) The street address of its principal office; (5) The address of its registered office in this state and the name of its registered agent at that office; and (6) The number and par value, if any, of shares of the bank's capital stock owned or to be owned by residents of this state.

(1) The name of the bank;

(2) The name of the state or country under whose law it is chartered;

(3) Its date of formation and period of duration;

(4) The street address of its principal office;

(5) The address of its registered office in this state and the name of its registered agent at that office; and

(6) The number and par value, if any, of shares of the bank's capital stock owned or to be owned by residents of this state.

(b) The bank shall deliver with the completed application a certificate of existence, or a document of similar import, duly authenticated by the bank supervisory agency which chartered the bank or other official having custody of the corporate records of banking institutions in the state or country under whose law it is chartered.

Acts 1997, No. 408, § 20; 2011, No. 796, § 5.
Ark. Code Ann. § 23-63-1501 — AR Code / Title 23 / Chapter 63 / Subchapter 15 / Section 23-63-1501
Definitions
Status: in_force

As used in this subchapter: (1) "Adjusted RBC report" means an RBC report that has been adjusted by the Insurance Commissioner in accordance with § 23-63-1502(d) ; (2) "Corrective order" means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required; (3) "Domestic health organization" means: (A) A health maintenance organization domiciled in this state, as established under § 23-76-107 ; or (B) A hospital and medical service corporation as defined in § 23-75-101 ; (4) "Foreign health organization" means a health organization licensed to do business in this state but is not domiciled in this state; (5) (A) "Health organization" means a health maintenance organization, hospital and medical service corporation, limited health service organization, dental or vision plan, hospital, or a medical and dental indemnity or service corporation. (B) "Health organization" does not include: (i) An organization that is licensed as either a life and health insurer; or (ii) A property and casualty insurer that is subject to the life or property and casualty RBC requirements; (6) "NAIC" means the National Association of Insurance Commissioners; (7) "RBC instructions" means the RBC report, including risk-based capital instructions adopted by the NAIC, as these RBC instructions may be amended by the NAIC according to the procedures adopted by the NAIC; (8) "RBC level" means a health organization's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC when: (A) "Authorized control level RBC" means the number determined under the risk-based capital formula according to the RBC instructions; (B) "Company action level RBC" means, with respect to a health organization, the product of two (2) and its authorized control level RBC; (C) "Mandatory control level RBC" means the product of seven-tenths (0.7) and the authorized control level RBC; and (D) "Regulatory action level RBC" means the product of one and five-tenths (1.5) and its authorized control level RBC; (9) "RBC plan" means a comprehensive financial plan containing the elements specified in § 23-63-1503(b) . If the commissioner rejects the RBC plan and it is revised by the health organization with or without the commissioner's recommendation, the plan shall be called the "revised RBC plan"; (10) "RBC report" means the report required in § 23-63-1502 ; and (11) "Total adjusted capital" means the sum of: (A) A health organization's statutory capital and surplus, such as net worth, as determined according to the statutory accounting applicable to the annual financial statements required to be filed; and (B) Other items that the RBC instructions may provide. Acts 1999, No. 580, § 1; 2011, No. 760, § 5.

As used in this subchapter:

(1) "Adjusted RBC report" means an RBC report that has been adjusted by the Insurance Commissioner in accordance with § 23-63-1502(d) ;

(2) "Corrective order" means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required;

(3) "Domestic health organization" means: (A) A health maintenance organization domiciled in this state, as established under § 23-76-107 ; or (B) A hospital and medical service corporation as defined in § 23-75-101 ;

(A) A health maintenance organization domiciled in this state, as established under § 23-76-107 ; or

(B) A hospital and medical service corporation as defined in § 23-75-101 ;

(4) "Foreign health organization" means a health organization licensed to do business in this state but is not domiciled in this state;

(5) (A) "Health organization" means a health maintenance organization, hospital and medical service corporation, limited health service organization, dental or vision plan, hospital, or a medical and dental indemnity or service corporation. (B) "Health organization" does not include: (i) An organization that is licensed as either a life and health insurer; or (ii) A property and casualty insurer that is subject to the life or property and casualty RBC requirements;

(A) "Health organization" means a health maintenance organization, hospital and medical service corporation, limited health service organization, dental or vision plan, hospital, or a medical and dental indemnity or service corporation.

(B) "Health organization" does not include: (i) An organization that is licensed as either a life and health insurer; or (ii) A property and casualty insurer that is subject to the life or property and casualty RBC requirements;

(i) An organization that is licensed as either a life and health insurer; or

(ii) A property and casualty insurer that is subject to the life or property and casualty RBC requirements;

(6) "NAIC" means the National Association of Insurance Commissioners;

(7) "RBC instructions" means the RBC report, including risk-based capital instructions adopted by the NAIC, as these RBC instructions may be amended by the NAIC according to the procedures adopted by the NAIC;

(8) "RBC level" means a health organization's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC when: (A) "Authorized control level RBC" means the number determined under the risk-based capital formula according to the RBC instructions; (B) "Company action level RBC" means, with respect to a health organization, the product of two (2) and its authorized control level RBC; (C) "Mandatory control level RBC" means the product of seven-tenths (0.7) and the authorized control level RBC; and (D) "Regulatory action level RBC" means the product of one and five-tenths (1.5) and its authorized control level RBC;

(A) "Authorized control level RBC" means the number determined under the risk-based capital formula according to the RBC instructions;

(B) "Company action level RBC" means, with respect to a health organization, the product of two (2) and its authorized control level RBC;

(C) "Mandatory control level RBC" means the product of seven-tenths (0.7) and the authorized control level RBC; and

(D) "Regulatory action level RBC" means the product of one and five-tenths (1.5) and its authorized control level RBC;

(9) "RBC plan" means a comprehensive financial plan containing the elements specified in § 23-63-1503(b) . If the commissioner rejects the RBC plan and it is revised by the health organization with or without the commissioner's recommendation, the plan shall be called the "revised RBC plan";

(10) "RBC report" means the report required in § 23-63-1502 ; and

(11) "Total adjusted capital" means the sum of: (A) A health organization's statutory capital and surplus, such as net worth, as determined according to the statutory accounting applicable to the annual financial statements required to be filed; and (B) Other items that the RBC instructions may provide.

(A) A health organization's statutory capital and surplus, such as net worth, as determined according to the statutory accounting applicable to the annual financial statements required to be filed; and

(B) Other items that the RBC instructions may provide.

Acts 1999, No. 580, § 1; 2011, No. 760, § 5.
Ark. Code Ann. § 23-67-220 — AR Code / Title 23 / Chapter 67 / Subchapter 2 / Section 23-67-220
Examinations
Status: in_force

(a) The Insurance Commissioner may examine any insurer, pool, advisory organization, or residual market mechanism as he or she deems necessary to ascertain compliance with this chapter. (b) Every insurer, pool, advisory organization, and residual market mechanism shall maintain reasonable records of the type and kind reasonably adapted to its method of operation containing its experience or the experience of its members, including the data, statistics, or information collected or used in its activities. These records shall be available at all reasonable times to enable the commissioner to determine whether the activities of any advisory organization, insurer, or association comply with the provisions of this chapter. The records shall be maintained in an office within this state or shall be made available to the commissioner for examination or inspection at any time upon reasonable notice. (c) The reasonable cost of an examination made pursuant to this section shall be paid by the examined party upon presentation of a detailed account of the costs. (d) In lieu of any examination, the commissioner may accept the report of an examination made by the insurance supervisory official of another state pursuant to the laws of that state. Acts 1987, No. 959, § 16.

(a) The Insurance Commissioner may examine any insurer, pool, advisory organization, or residual market mechanism as he or she deems necessary to ascertain compliance with this chapter.

(b) Every insurer, pool, advisory organization, and residual market mechanism shall maintain reasonable records of the type and kind reasonably adapted to its method of operation containing its experience or the experience of its members, including the data, statistics, or information collected or used in its activities. These records shall be available at all reasonable times to enable the commissioner to determine whether the activities of any advisory organization, insurer, or association comply with the provisions of this chapter. The records shall be maintained in an office within this state or shall be made available to the commissioner for examination or inspection at any time upon reasonable notice.

(c) The reasonable cost of an examination made pursuant to this section shall be paid by the examined party upon presentation of a detailed account of the costs.

(d) In lieu of any examination, the commissioner may accept the report of an examination made by the insurance supervisory official of another state pursuant to the laws of that state.

Acts 1987, No. 959, § 16.
Ark. Code Ann. § 23-55-1001 — AR Code / Title 23 / Chapter 55 / Section 23-55-1001
Uniformity of application and construction
Status: in_force

In applying and construing this Uniform Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among States that enact it. Acts 2007, No. 1595, § 1.

In applying and construing this Uniform Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among States that enact it.

Acts 2007, No. 1595, § 1.
Ark. Code Ann. § 23-62-111 — AR Code / Title 23 / Chapter 62 / Subchapter 1 / Section 23-62-111
Employee benefit stop-loss insurance
Status: in_force

(a) As used in this subchapter, "employee benefit stop-loss insurance" means coverage that insures an employer or an employer-sponsored health plan against the risk that: (1) One (1) claim will exceed a specific dollar amount; or (2) The entire loss of a self-insurance plan will exceed a specific dollar amount. (b) An insurer authorized to transact accident and health insurance business in this state may issue employee benefit stop-loss insurance in this state. (c) An insurer shall not issue an employee benefit stop-loss insurance policy that: (1) Has an annual attachment point for claims incurred per individual that is less than twenty thousand dollars ($20,000); (2) Has an annual aggregate attachment point for groups of fifty (50) or less that is lower than one hundred twenty percent (120%) of expected claims; (3) Has an annual aggregate attachment point for groups of fifty-one (51) or more that is lower than one hundred ten percent (110%) of expected claims; or (4) Provides for direct coverage of healthcare expenses of an individual. (d) The Insurance Commissioner may adopt rules that carry out the requirements of this section, including without limitation rules that require: (1) Additional standards for employee benefit stop-loss insurance policies; and (2) Disclosures to policyholders by an insurance carrier providing employee benefit stop-loss insurance. Amended by Act 2021, No. 383,§ 1, eff. 7/28/2021. Acts 2007, No. 496, § 4; 2009, No. 726, § 10; 2011, No. 760, § 2.

(a) As used in this subchapter, "employee benefit stop-loss insurance" means coverage that insures an employer or an employer-sponsored health plan against the risk that: (1) One (1) claim will exceed a specific dollar amount; or (2) The entire loss of a self-insurance plan will exceed a specific dollar amount.

(1) One (1) claim will exceed a specific dollar amount; or

(2) The entire loss of a self-insurance plan will exceed a specific dollar amount.

(b) An insurer authorized to transact accident and health insurance business in this state may issue employee benefit stop-loss insurance in this state.

(c) An insurer shall not issue an employee benefit stop-loss insurance policy that: (1) Has an annual attachment point for claims incurred per individual that is less than twenty thousand dollars ($20,000); (2) Has an annual aggregate attachment point for groups of fifty (50) or less that is lower than one hundred twenty percent (120%) of expected claims; (3) Has an annual aggregate attachment point for groups of fifty-one (51) or more that is lower than one hundred ten percent (110%) of expected claims; or (4) Provides for direct coverage of healthcare expenses of an individual.

(1) Has an annual attachment point for claims incurred per individual that is less than twenty thousand dollars ($20,000);

(2) Has an annual aggregate attachment point for groups of fifty (50) or less that is lower than one hundred twenty percent (120%) of expected claims;

(3) Has an annual aggregate attachment point for groups of fifty-one (51) or more that is lower than one hundred ten percent (110%) of expected claims; or

(4) Provides for direct coverage of healthcare expenses of an individual.

(d) The Insurance Commissioner may adopt rules that carry out the requirements of this section, including without limitation rules that require: (1) Additional standards for employee benefit stop-loss insurance policies; and (2) Disclosures to policyholders by an insurance carrier providing employee benefit stop-loss insurance.

(1) Additional standards for employee benefit stop-loss insurance policies; and

(2) Disclosures to policyholders by an insurance carrier providing employee benefit stop-loss insurance.

Amended by Act 2021, No. 383,§ 1, eff. 7/28/2021.

Acts 2007, No. 496, § 4; 2009, No. 726, § 10; 2011, No. 760, § 2.
Ark. Code Ann. § 23-115-502 — AR Code / Title 23 / Chapter 115 / Subchapter 5 / Section 23-115-502
Vendor - Performance bond or letter of credit
Status: in_force

(a) (1) At the time of execution of a major procurement contract between the Office of the Arkansas Lottery and a vendor, the vendor shall post a performance bond or letter of credit from a bank or credit provider acceptable to the office in an amount deemed necessary by the office to assure the performance of the major procurement contract. (2) In lieu of the bond, the vendor may deposit and maintain with the office securities acceptable to the office that are: (A) Interest bearing or accruing; and (B) Rated in one (1) of the three (3) highest classifications by an established, nationally recognized investment rating service. (3) Securities eligible under this section are limited to: (A) Certificates of deposit in an amount fully insured by the Federal Deposit Insurance Corporation issued by solvent banks or savings associations, if the solvent banks or savings associations are: (i) Approved by the office; and (ii) Organized and existing under the laws of this state or under the laws of the United States; (B) United States Government bonds, notes, and bills for which the full faith and credit of the United States Government is pledged for the payment of principal and interest; (C) Federal agency securities by an agency or instrumentality of the United States Government; and (D) (i) Corporate bonds approved by the office. (ii) The entity that issued the bonds shall not be an affiliate or subsidiary of the depositor. (4) The securities shall be held in trust and shall at all times be in an amount as deemed necessary by the office for the major procurement contract. (b) (1) Each vendor shall be qualified to do business in this state and shall file appropriate tax returns as provided by the laws of this state. (2) A major procurement contract under this section shall be governed by the laws of this state except as provided in this chapter. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 40.

(a) (1) At the time of execution of a major procurement contract between the Office of the Arkansas Lottery and a vendor, the vendor shall post a performance bond or letter of credit from a bank or credit provider acceptable to the office in an amount deemed necessary by the office to assure the performance of the major procurement contract. (2) In lieu of the bond, the vendor may deposit and maintain with the office securities acceptable to the office that are: (A) Interest bearing or accruing; and (B) Rated in one (1) of the three (3) highest classifications by an established, nationally recognized investment rating service. (3) Securities eligible under this section are limited to: (A) Certificates of deposit in an amount fully insured by the Federal Deposit Insurance Corporation issued by solvent banks or savings associations, if the solvent banks or savings associations are: (i) Approved by the office; and (ii) Organized and existing under the laws of this state or under the laws of the United States; (B) United States Government bonds, notes, and bills for which the full faith and credit of the United States Government is pledged for the payment of principal and interest; (C) Federal agency securities by an agency or instrumentality of the United States Government; and (D) (i) Corporate bonds approved by the office. (ii) The entity that issued the bonds shall not be an affiliate or subsidiary of the depositor. (4) The securities shall be held in trust and shall at all times be in an amount as deemed necessary by the office for the major procurement contract.

(1) At the time of execution of a major procurement contract between the Office of the Arkansas Lottery and a vendor, the vendor shall post a performance bond or letter of credit from a bank or credit provider acceptable to the office in an amount deemed necessary by the office to assure the performance of the major procurement contract.

(2) In lieu of the bond, the vendor may deposit and maintain with the office securities acceptable to the office that are: (A) Interest bearing or accruing; and (B) Rated in one (1) of the three (3) highest classifications by an established, nationally recognized investment rating service.

(A) Interest bearing or accruing; and

(B) Rated in one (1) of the three (3) highest classifications by an established, nationally recognized investment rating service.

(3) Securities eligible under this section are limited to: (A) Certificates of deposit in an amount fully insured by the Federal Deposit Insurance Corporation issued by solvent banks or savings associations, if the solvent banks or savings associations are: (i) Approved by the office; and (ii) Organized and existing under the laws of this state or under the laws of the United States; (B) United States Government bonds, notes, and bills for which the full faith and credit of the United States Government is pledged for the payment of principal and interest; (C) Federal agency securities by an agency or instrumentality of the United States Government; and (D) (i) Corporate bonds approved by the office. (ii) The entity that issued the bonds shall not be an affiliate or subsidiary of the depositor.

(A) Certificates of deposit in an amount fully insured by the Federal Deposit Insurance Corporation issued by solvent banks or savings associations, if the solvent banks or savings associations are: (i) Approved by the office; and (ii) Organized and existing under the laws of this state or under the laws of the United States;

(i) Approved by the office; and

(ii) Organized and existing under the laws of this state or under the laws of the United States;

(B) United States Government bonds, notes, and bills for which the full faith and credit of the United States Government is pledged for the payment of principal and interest;

(C) Federal agency securities by an agency or instrumentality of the United States Government; and

(D) (i) Corporate bonds approved by the office. (ii) The entity that issued the bonds shall not be an affiliate or subsidiary of the depositor.

(i) Corporate bonds approved by the office.

(ii) The entity that issued the bonds shall not be an affiliate or subsidiary of the depositor.

(4) The securities shall be held in trust and shall at all times be in an amount as deemed necessary by the office for the major procurement contract.

(b) (1) Each vendor shall be qualified to do business in this state and shall file appropriate tax returns as provided by the laws of this state. (2) A major procurement contract under this section shall be governed by the laws of this state except as provided in this chapter.

(1) Each vendor shall be qualified to do business in this state and shall file appropriate tax returns as provided by the laws of this state.

(2) A major procurement contract under this section shall be governed by the laws of this state except as provided in this chapter.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, § 40.
Ark. Code Ann. § 23-37-506 — AR Code / Title 23 / Chapter 37 / Subchapter 5 / Section 23-37-506
Conflicting claims to accounts
Status: in_force

In the event an association is given notice that conflicting claims of whatever kind and nature exist to the ownership or right to withdraw a savings account, the association may, at its option, without liability, withhold paying any withdrawals from the account until it receives a written withdrawal request executed by all the claimants to the savings account. Acts 1963, No. 227, § 39; A.S.A. 1947, § 67-1839.

In the event an association is given notice that conflicting claims of whatever kind and nature exist to the ownership or right to withdraw a savings account, the association may, at its option, without liability, withhold paying any withdrawals from the account until it receives a written withdrawal request executed by all the claimants to the savings account.

Acts 1963, No. 227, § 39; A.S.A. 1947, § 67-1839.
Ark. Code Ann. § 23-99-210 — AR Code / Title 23 / Chapter 99 / Subchapter 2 / Section 23-99-210
Healthcare provider - Adverse professional review action
Status: in_force

A healthcare insurer shall not exclude a physician as a participating healthcare provider in a health benefit plan based solely on an adverse professional review action, including those described in the Arkansas Peer Review Fairness Act, § 20-9-1301 et seq., unless a hospital's physician peer review committee concludes that the conduct of the physician adversely affected or could have adversely affected a patient by violating the standard of care or posing a risk to the health or welfare of a patient. Added by Act 2019, No. 996,§ 1, eff. 4/15/2019.

A healthcare insurer shall not exclude a physician as a participating healthcare provider in a health benefit plan based solely on an adverse professional review action, including those described in the Arkansas Peer Review Fairness Act, § 20-9-1301 et seq., unless a hospital's physician peer review committee concludes that the conduct of the physician adversely affected or could have adversely affected a patient by violating the standard of care or posing a risk to the health or welfare of a patient.

Added by Act 2019, No. 996,§ 1, eff. 4/15/2019.
Ark. Code Ann. § 23-61-117 — AR Code / Title 23 / Chapter 61 / Subchapter 1 / Section 23-61-117
Risk-based provider organizations
Status: in_force

(a) The Insurance Commissioner shall regulate the licensing and financial solvency of risk-based provider organizations, as defined in § 20-77-2703 , participating in the Medicaid provider-led organized care system for enrollable Medicaid beneficiary populations as defined in § 20-77-2703 . (b) The commissioner may: (1) Issue rules to implement this section; (2) Impose and collect a reasonable fee from a risk-based provider organization for the regulation and licensing of the risk-based provider organization as established by rule of the State Insurance Department; and (3) (A) Administer collection of the quarterly tax imposed on risk-based provider organizations under § 26-57-603 pursuant to a rule issued by the department. (B) The commissioner shall prescribe the reporting, forms, and requirements related to the payment of the quarterly tax in a rule issued by the department. Added by Act 2017, No. 775,§ 3, eff. 3/31/2017.

(a) The Insurance Commissioner shall regulate the licensing and financial solvency of risk-based provider organizations, as defined in § 20-77-2703 , participating in the Medicaid provider-led organized care system for enrollable Medicaid beneficiary populations as defined in § 20-77-2703 .

(b) The commissioner may: (1) Issue rules to implement this section; (2) Impose and collect a reasonable fee from a risk-based provider organization for the regulation and licensing of the risk-based provider organization as established by rule of the State Insurance Department; and (3) (A) Administer collection of the quarterly tax imposed on risk-based provider organizations under § 26-57-603 pursuant to a rule issued by the department. (B) The commissioner shall prescribe the reporting, forms, and requirements related to the payment of the quarterly tax in a rule issued by the department.

(1) Issue rules to implement this section;

(2) Impose and collect a reasonable fee from a risk-based provider organization for the regulation and licensing of the risk-based provider organization as established by rule of the State Insurance Department; and

(3) (A) Administer collection of the quarterly tax imposed on risk-based provider organizations under § 26-57-603 pursuant to a rule issued by the department. (B) The commissioner shall prescribe the reporting, forms, and requirements related to the payment of the quarterly tax in a rule issued by the department.

(A) Administer collection of the quarterly tax imposed on risk-based provider organizations under § 26-57-603 pursuant to a rule issued by the department.

(B) The commissioner shall prescribe the reporting, forms, and requirements related to the payment of the quarterly tax in a rule issued by the department.

Added by Act 2017, No. 775,§ 3, eff. 3/31/2017.
Ark. Code Ann. § 23-115-609 — AR Code / Title 23 / Chapter 115 / Subchapter 6 / Section 23-115-609
Judicial relief
Status: in_force

(a) (1) If the decision of the hearing officer under § 23-115-608 is to affirm the closure of the business, the decision shall be submitted in writing and delivered by the United States Postal Service or by hand to the retailer. (2) The retailer may seek judicial relief from the decision by filing suit within twenty (20) calendar days of the date of the decision. (b) (1) Jurisdiction for a suit under this section to contest a determination of the Director of the Office of the Arkansas Lottery shall be in Pulaski County Circuit Court, where the matter shall be tried de novo. (2) (A) If the circuit court finds that the business closure order was appropriately issued by the director, the circuit court shall issue an injunction against the retailer prohibiting the further operation of the business. (B) If a business subject to an injunction issued by the circuit court as provided in this subchapter continues in operation, upon conviction, any person responsible for the decision to operate the business after the issuance of the injunction shall be guilty of a Class A misdemeanor. (3) An appeal may be made from the circuit court to the appropriate appellate court, as provided by law. (c) The procedures established by § 23-115-608 and this section are the sole methods for seeking relief from a written decision to close the business of a retailer for failure to comply with § 23-115-605(b) . (d) The decision to close the business of a retailer shall be final: (1) If the retailer fails to: (A) Request an administrative hearing under § 23-115-608 ; or (B) Seek judicial relief under this section; or (2) Upon the final decision of the circuit court or an appellate court. (e) (1) It is unlawful for a business to continue in operation after a business closure order is issued that is: (A) Upheld on appeal under this subchapter; or (B) Not appealed by the retailer under this subchapter. (2) Upon conviction, any person responsible for the decision to operate the business in violation of this subchapter shall be guilty of a Class A misdemeanor. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 1405, § 44.

(a) (1) If the decision of the hearing officer under § 23-115-608 is to affirm the closure of the business, the decision shall be submitted in writing and delivered by the United States Postal Service or by hand to the retailer. (2) The retailer may seek judicial relief from the decision by filing suit within twenty (20) calendar days of the date of the decision.

(1) If the decision of the hearing officer under § 23-115-608 is to affirm the closure of the business, the decision shall be submitted in writing and delivered by the United States Postal Service or by hand to the retailer.

(2) The retailer may seek judicial relief from the decision by filing suit within twenty (20) calendar days of the date of the decision.

(b) (1) Jurisdiction for a suit under this section to contest a determination of the Director of the Office of the Arkansas Lottery shall be in Pulaski County Circuit Court, where the matter shall be tried de novo. (2) (A) If the circuit court finds that the business closure order was appropriately issued by the director, the circuit court shall issue an injunction against the retailer prohibiting the further operation of the business. (B) If a business subject to an injunction issued by the circuit court as provided in this subchapter continues in operation, upon conviction, any person responsible for the decision to operate the business after the issuance of the injunction shall be guilty of a Class A misdemeanor. (3) An appeal may be made from the circuit court to the appropriate appellate court, as provided by law.

(1) Jurisdiction for a suit under this section to contest a determination of the Director of the Office of the Arkansas Lottery shall be in Pulaski County Circuit Court, where the matter shall be tried de novo.

(2) (A) If the circuit court finds that the business closure order was appropriately issued by the director, the circuit court shall issue an injunction against the retailer prohibiting the further operation of the business. (B) If a business subject to an injunction issued by the circuit court as provided in this subchapter continues in operation, upon conviction, any person responsible for the decision to operate the business after the issuance of the injunction shall be guilty of a Class A misdemeanor.

(A) If the circuit court finds that the business closure order was appropriately issued by the director, the circuit court shall issue an injunction against the retailer prohibiting the further operation of the business.

(B) If a business subject to an injunction issued by the circuit court as provided in this subchapter continues in operation, upon conviction, any person responsible for the decision to operate the business after the issuance of the injunction shall be guilty of a Class A misdemeanor.

(3) An appeal may be made from the circuit court to the appropriate appellate court, as provided by law.

(c) The procedures established by § 23-115-608 and this section are the sole methods for seeking relief from a written decision to close the business of a retailer for failure to comply with § 23-115-605(b) .

(d) The decision to close the business of a retailer shall be final: (1) If the retailer fails to: (A) Request an administrative hearing under § 23-115-608 ; or (B) Seek judicial relief under this section; or (2) Upon the final decision of the circuit court or an appellate court.

(1) If the retailer fails to: (A) Request an administrative hearing under § 23-115-608 ; or (B) Seek judicial relief under this section; or

(A) Request an administrative hearing under § 23-115-608 ; or

(B) Seek judicial relief under this section; or

(2) Upon the final decision of the circuit court or an appellate court.

(e) (1) It is unlawful for a business to continue in operation after a business closure order is issued that is: (A) Upheld on appeal under this subchapter; or (B) Not appealed by the retailer under this subchapter. (2) Upon conviction, any person responsible for the decision to operate the business in violation of this subchapter shall be guilty of a Class A misdemeanor.

(1) It is unlawful for a business to continue in operation after a business closure order is issued that is: (A) Upheld on appeal under this subchapter; or (B) Not appealed by the retailer under this subchapter.

(A) Upheld on appeal under this subchapter; or

(B) Not appealed by the retailer under this subchapter.

(2) Upon conviction, any person responsible for the decision to operate the business in violation of this subchapter shall be guilty of a Class A misdemeanor.

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

Acts 2009, No. 1405, § 44.
Ark. Code Ann. § 23-32-204 — AR Code / Title 23 / Chapter 32 / Subchapter 2 / Section 23-32-204
Sale of certain mortgage loans
Status: in_force

Notwithstanding any other provision of law, any savings and loan association or insurance company organized under the laws of this state which has as one (1) of its principal purposes the making or purchasing of loans secured by real estate mortgages is authorized to: (1) Sell such mortgage loans to the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, or any other corporation chartered by an act of Congress for such purposes, or any successor thereof; (2) In connection therewith, make payments of any capital contributions required pursuant to law in the nature of subscriptions for stock of the entities described in subdivision (1) of this section; (3) Receive stock evidencing such capital contributions; and (4) Hold or dispose of such stock. Acts 1997, No. 80, § 1.

Notwithstanding any other provision of law, any savings and loan association or insurance company organized under the laws of this state which has as one (1) of its principal purposes the making or purchasing of loans secured by real estate mortgages is authorized to:

(1) Sell such mortgage loans to the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, or any other corporation chartered by an act of Congress for such purposes, or any successor thereof;

(2) In connection therewith, make payments of any capital contributions required pursuant to law in the nature of subscriptions for stock of the entities described in subdivision (1) of this section;

(3) Receive stock evidencing such capital contributions; and

(4) Hold or dispose of such stock.

Acts 1997, No. 80, § 1.
Ark. Code Ann. § 23-118-103 — AR Code / Title 23 / Chapter 118 / Section 23-118-103
Paid esports tournaments authorized
Status: in_force

(a) An esports tournament organizer is authorized to conduct a paid esports tournament through one (1) or more websites, local area networks, video gaming platforms, or other similar gaming platforms maintained and operated by the esports tournament organizer under this chapter. (b) Wagering on the outcome of an esports tournament is not authorized under this chapter. Added by Act 2023, No. 439,§ 1, eff. 8/1/2023.

(a) An esports tournament organizer is authorized to conduct a paid esports tournament through one (1) or more websites, local area networks, video gaming platforms, or other similar gaming platforms maintained and operated by the esports tournament organizer under this chapter.

(b) Wagering on the outcome of an esports tournament is not authorized under this chapter.

Added by Act 2023, No. 439,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 23-79-513 — AR Code / Title 23 / Chapter 79 / Subchapter 5 / Section 23-79-513
Unfair referral to plan - Prohibited practices by employers
Status: in_force

(a) It shall constitute an unfair trade practice under the Trade Practices Act, § 23-66-201 et seq., for an insurer, agent, broker, or third-party administrator to refer an individual to the Arkansas Comprehensive Health Insurance Pool or arrange for an individual to apply to the pool for the purpose of: (1) Separating the individual from group health insurance coverage provided by a group health plan; or (2) Facilitating enrollment in the pool by any of the following individuals associated with an employer, with the knowledge that the employer intends to pay or is paying all or part of the premium payments owed by the individual for pool coverage: (A) An employee of the employer; (B) A retired employee of the employer; or (C) A dependent of an employee or retired employee of the employer. (b) Because pool coverage is not intended to cover participants who are eligible for a group health plan, an individual described in subdivision (a)(2) of this section is not eligible: (1) For pool coverage if the employer associated with the applicant intends to pay for all or part of the pool premium payments for the individual; or (2) To continue pool coverage if the employer associated with the individual directly or indirectly pays all or part of the pool premium payments for the individual. Acts 1997, No. 292, § 13; 1997, No. 1000, § 25; 2009, No. 1452, § 3.

(a) It shall constitute an unfair trade practice under the Trade Practices Act, § 23-66-201 et seq., for an insurer, agent, broker, or third-party administrator to refer an individual to the Arkansas Comprehensive Health Insurance Pool or arrange for an individual to apply to the pool for the purpose of: (1) Separating the individual from group health insurance coverage provided by a group health plan; or (2) Facilitating enrollment in the pool by any of the following individuals associated with an employer, with the knowledge that the employer intends to pay or is paying all or part of the premium payments owed by the individual for pool coverage: (A) An employee of the employer; (B) A retired employee of the employer; or (C) A dependent of an employee or retired employee of the employer.

(1) Separating the individual from group health insurance coverage provided by a group health plan; or

(2) Facilitating enrollment in the pool by any of the following individuals associated with an employer, with the knowledge that the employer intends to pay or is paying all or part of the premium payments owed by the individual for pool coverage: (A) An employee of the employer; (B) A retired employee of the employer; or (C) A dependent of an employee or retired employee of the employer.

(A) An employee of the employer;

(B) A retired employee of the employer; or

(C) A dependent of an employee or retired employee of the employer.

(b) Because pool coverage is not intended to cover participants who are eligible for a group health plan, an individual described in subdivision (a)(2) of this section is not eligible: (1) For pool coverage if the employer associated with the applicant intends to pay for all or part of the pool premium payments for the individual; or (2) To continue pool coverage if the employer associated with the individual directly or indirectly pays all or part of the pool premium payments for the individual.

(1) For pool coverage if the employer associated with the applicant intends to pay for all or part of the pool premium payments for the individual; or

(2) To continue pool coverage if the employer associated with the individual directly or indirectly pays all or part of the pool premium payments for the individual.

Acts 1997, No. 292, § 13; 1997, No. 1000, § 25; 2009, No. 1452, § 3.
Ark. Code Ann. § 23-69-115 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-115
Trust deposit of premiums - Issuance of policies - Mutual insurers
Status: in_force

(a) All sums collected by a domestic mutual corporation as premiums or fees on qualifying applications for insurance therein shall be deposited in trust into a bank or trust company in this state under a written trust agreement consistent with this section and with § 23-69-114(c)(3) . The corporation shall file an executed copy of the trust agreement with the Insurance Commissioner. (b) Upon issuance to the corporation of a certificate of authority as an insurer for the kind of insurance for which the applications were solicited, all funds so held in trust shall become the funds of the insurer, and the insurer shall in due course issue and deliver its policies for which premiums had been paid and accepted. The insurance provided by the policies shall be effective as of the date of the certificate of authority, or thereafter as provided by the policies. Acts 1959, No. 148, § 465; A.S.A. 1947, § 66-4213.

(a) All sums collected by a domestic mutual corporation as premiums or fees on qualifying applications for insurance therein shall be deposited in trust into a bank or trust company in this state under a written trust agreement consistent with this section and with § 23-69-114(c)(3) . The corporation shall file an executed copy of the trust agreement with the Insurance Commissioner.

(b) Upon issuance to the corporation of a certificate of authority as an insurer for the kind of insurance for which the applications were solicited, all funds so held in trust shall become the funds of the insurer, and the insurer shall in due course issue and deliver its policies for which premiums had been paid and accepted. The insurance provided by the policies shall be effective as of the date of the certificate of authority, or thereafter as provided by the policies.

Acts 1959, No. 148, § 465; A.S.A. 1947, § 66-4213.
Ark. Code Ann. § 23-63-903 — AR Code / Title 23 / Chapter 63 / Subchapter 9 / Section 23-63-903
Eligible securities
Status: in_force

(a) All deposits required under § 23-63-206 for authority to transact insurance in this state shall consist of certified checks or certificates of deposit, or any combination of securities, the market value of which is readily ascertainable and, if negotiable by delivery or assignment, of the kinds described in the following sections of the Arkansas Insurance Code: (1) Section 23-63-806 , United States Government obligations; (2) Section 23-63-808 , state, county, municipal, and school obligations; (3) Section 23-63-809 , municipal or county utilities; (4) Section 23-63-811 , local industrial development bonds; (5) Section 23-63-813 , international banks; and (6) Section 23-63-814 , corporate bonds and debentures. (b) All deposits required of a domestic insurer pursuant to the laws of another state, province, or country shall be composed of securities, if negotiable by delivery or assignment, of the kinds required or permitted by the laws of the state, province, or country, except common stocks, mortgages of any kind, and real estate. (c) Deposits of the reserves of a domestic life insurer under § 23-81-130 shall consist of securities, if negotiable by delivery or assignment, and assets eligible for investment of the insurer's reserves under § 23-63-805(3) . (d) Deposits of foreign insurers made in this state under the retaliatory provision, §§ 23-63-102 - 23-63-104 , shall consist of such assets as are required by the Insurance Commissioner pursuant to the provision. Acts 1959, No. 148, § 134; A.S.A. 1947, § 66-2703.

(a) All deposits required under § 23-63-206 for authority to transact insurance in this state shall consist of certified checks or certificates of deposit, or any combination of securities, the market value of which is readily ascertainable and, if negotiable by delivery or assignment, of the kinds described in the following sections of the Arkansas Insurance Code: (1) Section 23-63-806 , United States Government obligations; (2) Section 23-63-808 , state, county, municipal, and school obligations; (3) Section 23-63-809 , municipal or county utilities; (4) Section 23-63-811 , local industrial development bonds; (5) Section 23-63-813 , international banks; and (6) Section 23-63-814 , corporate bonds and debentures.

(1) Section 23-63-806 , United States Government obligations;

(2) Section 23-63-808 , state, county, municipal, and school obligations;

(3) Section 23-63-809 , municipal or county utilities;

(4) Section 23-63-811 , local industrial development bonds;

(5) Section 23-63-813 , international banks; and

(6) Section 23-63-814 , corporate bonds and debentures.

(b) All deposits required of a domestic insurer pursuant to the laws of another state, province, or country shall be composed of securities, if negotiable by delivery or assignment, of the kinds required or permitted by the laws of the state, province, or country, except common stocks, mortgages of any kind, and real estate.

(c) Deposits of the reserves of a domestic life insurer under § 23-81-130 shall consist of securities, if negotiable by delivery or assignment, and assets eligible for investment of the insurer's reserves under § 23-63-805(3) .

(d) Deposits of foreign insurers made in this state under the retaliatory provision, §§ 23-63-102 - 23-63-104 , shall consist of such assets as are required by the Insurance Commissioner pursuant to the provision.

Acts 1959, No. 148, § 134; A.S.A. 1947, § 66-2703.
Ark. Code Ann. § 23-112-1018 — AR Code / Title 23 / Chapter 112 / Subchapter 10 / Section 23-112-1018
Prohibited activity of manufacturer or distributor - Coercion
Status: in_force

(a) A manufacturer or distributor shall not coerce or attempt to coerce a dealer to: (1) Purchase a product that the dealer did not order; (2) Enter into an agreement with the manufacturer or distributor; or (3) Enter into an agreement that requires the dealer to submit its disputes to binding arbitration or otherwise waive rights or responsibilities provided under this subchapter. (b) As used in this subchapter, "coerce" includes without limitation: (1) Threatening to terminate, cancel, or not renew a dealer agreement without good cause; (2) Threatening to withhold product lines the dealer is entitled to purchase under the dealer agreement; or (3) Delaying delivery of recreational vehicles as an inducement to amend the dealer agreement. Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.

(a) A manufacturer or distributor shall not coerce or attempt to coerce a dealer to: (1) Purchase a product that the dealer did not order; (2) Enter into an agreement with the manufacturer or distributor; or (3) Enter into an agreement that requires the dealer to submit its disputes to binding arbitration or otherwise waive rights or responsibilities provided under this subchapter.

(1) Purchase a product that the dealer did not order;

(2) Enter into an agreement with the manufacturer or distributor; or

(3) Enter into an agreement that requires the dealer to submit its disputes to binding arbitration or otherwise waive rights or responsibilities provided under this subchapter.

(b) As used in this subchapter, "coerce" includes without limitation: (1) Threatening to terminate, cancel, or not renew a dealer agreement without good cause; (2) Threatening to withhold product lines the dealer is entitled to purchase under the dealer agreement; or (3) Delaying delivery of recreational vehicles as an inducement to amend the dealer agreement.

(1) Threatening to terminate, cancel, or not renew a dealer agreement without good cause;

(2) Threatening to withhold product lines the dealer is entitled to purchase under the dealer agreement; or

(3) Delaying delivery of recreational vehicles as an inducement to amend the dealer agreement.

Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.
Ark. Code Ann. § 23-72-111 — AR Code / Title 23 / Chapter 72 / Section 23-72-111
Special provisions of pro rata assessment plan
Status: in_force

In addition to the requirements under § 23-72-109 , the bylaws of a pro rata assessment plan insurer: (1) Shall clearly provide the plan of calling assessments. They may provide for assessment of each group or circle for payment of its own claims, for the assessing of groups or circles in rotation, or for assessing any group or circle, or the entire membership, for the payment of any matured claim; and (2) May provide for the collection of assessments in advance to be used for the payment of claims and expenses. Acts 1959, No. 148, § 566; A.S.A. 1947, § 66-4511.

In addition to the requirements under § 23-72-109 , the bylaws of a pro rata assessment plan insurer:

(1) Shall clearly provide the plan of calling assessments. They may provide for assessment of each group or circle for payment of its own claims, for the assessing of groups or circles in rotation, or for assessing any group or circle, or the entire membership, for the payment of any matured claim; and

(2) May provide for the collection of assessments in advance to be used for the payment of claims and expenses.

Acts 1959, No. 148, § 566; A.S.A. 1947, § 66-4511.
Ark. Code Ann. § 23-39-509 — AR Code / Title 23 / Chapter 39 / Subchapter 5 / Section 23-39-509
Offices - Address changes - Location of records
Status: in_force

(a) A mortgage broker, mortgage banker, and mortgage servicer shall maintain a principal place of business. (b) A mortgage broker, mortgage banker, and mortgage servicer shall identify the location in which the licensee's books, records, and files pertaining to mortgage loan transactions are maintained. (c) The Securities Commissioner by rule may impose terms and conditions under which the records and files shall be maintained, including if the records must be maintained in this state. (d) (1) A principal place of business or branch office from which a mortgage broker, mortgage banker, or mortgage servicer conducts mortgage loan activity or business shall be a physical address. (2) Mortgage loan activity or business includes without limitation the address appearing on business cards, stationery, promotional materials, or advertising. (3) The commissioner may by rule or order impose terms and conditions under which a loan officer may conduct mortgage loan activity or business from a location that is not licensed under this subchapter as a principal place of business or branch office. (e) (1) A mortgage banker, mortgage broker, or mortgage servicer shall not use any name or address to conduct mortgage loan activity or business other than the name and address specified on the license issued by the commissioner. (2) A mortgage broker, mortgage banker, or mortgage servicer may change the name of the licensee or address of the principal place of business or branch office specified on the most recent filing with the commissioner if: (A) (i) At least thirty (30) calendar days before the change, the licensee files a notice of the change with the commissioner. (ii) If necessary, the licensee shall provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the commissioner that reflects the new name or change of address of the licensee's principal place of business; and (B) The commissioner does not disapprove the name change or the change of address in writing or request additional information within the thirty-day time frame described in subdivision (e)(2)(A)(i) of this section. (f) A mortgage broker, mortgage banker, or mortgage servicer that ceases to do business in this state shall: (1) Notify the commissioner within thirty (30) days after the mortgage broker, mortgage banker, or mortgage servicer ceases to do business in this state that the mortgage broker, mortgage banker, or mortgage servicer has ceased to do business in this state; and (2) Provide the commissioner the address where all records pertaining to loans made or serviced in this state will be maintained for the period of time required by this subchapter or rule of the commissioner. Amended by Act 2021, No. 531,§ 10, eff. 7/28/2021. Amended by Act 2021, No. 531,§ 9, eff. 7/28/2021. Acts 2003, No. 554, § 1; 2005, No. 1679, § 1; 2007, No. 748, § 7; 2009, No. 731, § 20; 2011, No. 894, § 11.

(a) A mortgage broker, mortgage banker, and mortgage servicer shall maintain a principal place of business.

(b) A mortgage broker, mortgage banker, and mortgage servicer shall identify the location in which the licensee's books, records, and files pertaining to mortgage loan transactions are maintained.

(c) The Securities Commissioner by rule may impose terms and conditions under which the records and files shall be maintained, including if the records must be maintained in this state.

(d) (1) A principal place of business or branch office from which a mortgage broker, mortgage banker, or mortgage servicer conducts mortgage loan activity or business shall be a physical address. (2) Mortgage loan activity or business includes without limitation the address appearing on business cards, stationery, promotional materials, or advertising. (3) The commissioner may by rule or order impose terms and conditions under which a loan officer may conduct mortgage loan activity or business from a location that is not licensed under this subchapter as a principal place of business or branch office.

(1) A principal place of business or branch office from which a mortgage broker, mortgage banker, or mortgage servicer conducts mortgage loan activity or business shall be a physical address.

(2) Mortgage loan activity or business includes without limitation the address appearing on business cards, stationery, promotional materials, or advertising.

(3) The commissioner may by rule or order impose terms and conditions under which a loan officer may conduct mortgage loan activity or business from a location that is not licensed under this subchapter as a principal place of business or branch office.

(e) (1) A mortgage banker, mortgage broker, or mortgage servicer shall not use any name or address to conduct mortgage loan activity or business other than the name and address specified on the license issued by the commissioner. (2) A mortgage broker, mortgage banker, or mortgage servicer may change the name of the licensee or address of the principal place of business or branch office specified on the most recent filing with the commissioner if: (A) (i) At least thirty (30) calendar days before the change, the licensee files a notice of the change with the commissioner. (ii) If necessary, the licensee shall provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the commissioner that reflects the new name or change of address of the licensee's principal place of business; and (B) The commissioner does not disapprove the name change or the change of address in writing or request additional information within the thirty-day time frame described in subdivision (e)(2)(A)(i) of this section.

(1) A mortgage banker, mortgage broker, or mortgage servicer shall not use any name or address to conduct mortgage loan activity or business other than the name and address specified on the license issued by the commissioner.

(2) A mortgage broker, mortgage banker, or mortgage servicer may change the name of the licensee or address of the principal place of business or branch office specified on the most recent filing with the commissioner if: (A) (i) At least thirty (30) calendar days before the change, the licensee files a notice of the change with the commissioner. (ii) If necessary, the licensee shall provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the commissioner that reflects the new name or change of address of the licensee's principal place of business; and (B) The commissioner does not disapprove the name change or the change of address in writing or request additional information within the thirty-day time frame described in subdivision (e)(2)(A)(i) of this section.

(A) (i) At least thirty (30) calendar days before the change, the licensee files a notice of the change with the commissioner. (ii) If necessary, the licensee shall provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the commissioner that reflects the new name or change of address of the licensee's principal place of business; and

(i) At least thirty (30) calendar days before the change, the licensee files a notice of the change with the commissioner.

(ii) If necessary, the licensee shall provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the commissioner that reflects the new name or change of address of the licensee's principal place of business; and

(B) The commissioner does not disapprove the name change or the change of address in writing or request additional information within the thirty-day time frame described in subdivision (e)(2)(A)(i) of this section.

(f) A mortgage broker, mortgage banker, or mortgage servicer that ceases to do business in this state shall: (1) Notify the commissioner within thirty (30) days after the mortgage broker, mortgage banker, or mortgage servicer ceases to do business in this state that the mortgage broker, mortgage banker, or mortgage servicer has ceased to do business in this state; and (2) Provide the commissioner the address where all records pertaining to loans made or serviced in this state will be maintained for the period of time required by this subchapter or rule of the commissioner.

(1) Notify the commissioner within thirty (30) days after the mortgage broker, mortgage banker, or mortgage servicer ceases to do business in this state that the mortgage broker, mortgage banker, or mortgage servicer has ceased to do business in this state; and

(2) Provide the commissioner the address where all records pertaining to loans made or serviced in this state will be maintained for the period of time required by this subchapter or rule of the commissioner.

Amended by Act 2021, No. 531,§ 10, eff. 7/28/2021.

Amended by Act 2021, No. 531,§ 9, eff. 7/28/2021.

Acts 2003, No. 554, § 1; 2005, No. 1679, § 1; 2007, No. 748, § 7; 2009, No. 731, § 20; 2011, No. 894, § 11.
Ark. Code Ann. § 23-62-103 — AR Code / Title 23 / Chapter 62 / Subchapter 1 / Section 23-62-103
Accident and health insurance
Status: in_force

(a) As used in the Arkansas Insurance Code, unless the context otherwise requires, "accident and health insurance" is insurance of human beings against bodily injury, disablement, or death by accident or accidental means or the expense thereof or against loss of income due to disablement or expense resulting from sickness and every insurance appertaining thereto. (b) Transaction of accident and health insurance does not include workers' compensation, as defined in § 23-62-105(a)(3) . Acts 1959, No. 148, § 74; A.S.A. 1947, § 66-2403; Acts 2001, No. 1603, § 3; 2001, No. 1604, § 9.

(a) As used in the Arkansas Insurance Code, unless the context otherwise requires, "accident and health insurance" is insurance of human beings against bodily injury, disablement, or death by accident or accidental means or the expense thereof or against loss of income due to disablement or expense resulting from sickness and every insurance appertaining thereto.

(b) Transaction of accident and health insurance does not include workers' compensation, as defined in § 23-62-105(a)(3) .

Acts 1959, No. 148, § 74; A.S.A. 1947, § 66-2403; Acts 2001, No. 1603, § 3; 2001, No. 1604, § 9.
Ark. Code Ann. § 23-79-111 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-111
Standard provisions
Status: in_force

(a) Insurance contracts shall contain such standard or uniform provisions as are required by the applicable provisions of this code pertaining to contracts of particular kinds of insurance. The Insurance Commissioner may waive the required use of a particular provision in a particular insurance policy form if: (1) He or she finds the provision unnecessary for the protection of the insured and inconsistent with the purposes of the policy; and (2) The policy is otherwise approved by him or her. (b) No policy shall contain any provision inconsistent with or contradictory to any standard or uniform provision used or required to be used, but the commissioner may approve any substitute provision which, in his or her opinion, is not less favorable in any particular to the insured or beneficiary than the provisions otherwise required. (c) In lieu of the provisions required by this code for contracts for particular kinds of insurance, substantially similar provisions required by the law of the domicile of a foreign or alien insurer may be used when approved by the commissioner. (d) The provisions of this section shall not apply to policies issued for large commercial risks. Acts 1959, No. 148, § 278; A.S.A. 1947, § 66-3211; Acts 1999, No. 458, § 5.

(a) Insurance contracts shall contain such standard or uniform provisions as are required by the applicable provisions of this code pertaining to contracts of particular kinds of insurance. The Insurance Commissioner may waive the required use of a particular provision in a particular insurance policy form if: (1) He or she finds the provision unnecessary for the protection of the insured and inconsistent with the purposes of the policy; and (2) The policy is otherwise approved by him or her.

(1) He or she finds the provision unnecessary for the protection of the insured and inconsistent with the purposes of the policy; and

(2) The policy is otherwise approved by him or her.

(b) No policy shall contain any provision inconsistent with or contradictory to any standard or uniform provision used or required to be used, but the commissioner may approve any substitute provision which, in his or her opinion, is not less favorable in any particular to the insured or beneficiary than the provisions otherwise required.

(c) In lieu of the provisions required by this code for contracts for particular kinds of insurance, substantially similar provisions required by the law of the domicile of a foreign or alien insurer may be used when approved by the commissioner.

(d) The provisions of this section shall not apply to policies issued for large commercial risks.

Acts 1959, No. 148, § 278; A.S.A. 1947, § 66-3211; Acts 1999, No. 458, § 5.
Ark. Code Ann. § 23-2-209 — AR Code / Title 23 / Chapter 2 / Subchapter 2 / Section 23-2-209
Jurisdiction of commission
Status: in_force

(a) The jurisdiction of the State Highway Commission shall extend to and include all matters pertaining to the regulation, certification, and review of assessment for ad valorem taxation and operation of all carriers providing a transportation service for compensation. (b) Nothing in this subchapter shall vest the commission with jurisdiction as to any rate, charge, rule, regulation, order, hearing, investigation, or other matter pertaining to the operation within the limits of any municipality of any carrier operating wholly within a municipality. (c) [Repealed.] Amended by Act 2017, No. 707,§ 93, eff. 8/1/2017. Acts 1957, No. 132, § 9; A.S.A. 1947, § 73-160; Acts 1991, No. 802, § 1.

(a) The jurisdiction of the State Highway Commission shall extend to and include all matters pertaining to the regulation, certification, and review of assessment for ad valorem taxation and operation of all carriers providing a transportation service for compensation.

(b) Nothing in this subchapter shall vest the commission with jurisdiction as to any rate, charge, rule, regulation, order, hearing, investigation, or other matter pertaining to the operation within the limits of any municipality of any carrier operating wholly within a municipality.

(c) [Repealed.]

Amended by Act 2017, No. 707,§ 93, eff. 8/1/2017.

Acts 1957, No. 132, § 9; A.S.A. 1947, § 73-160; Acts 1991, No. 802, § 1.
Ark. Code Ann. § 23-37-508 — AR Code / Title 23 / Chapter 37 / Subchapter 5 / Section 23-37-508
Power of attorney
Status: in_force

An association or a federal association may recognize, or continue to recognize, the authority of an attorney in fact authorized in writing to manage or to make withdrawals, either in whole or in part, from a savings account until it receives written notice of the revocation of the authority of the attorney in fact or until it receives written notice of the death or adjudication of incompetency of the owner of the savings account. Acts 1963, No. 227, § 41; A.S.A. 1947, § 67-1841.

An association or a federal association may recognize, or continue to recognize, the authority of an attorney in fact authorized in writing to manage or to make withdrawals, either in whole or in part, from a savings account until it receives written notice of the revocation of the authority of the attorney in fact or until it receives written notice of the death or adjudication of incompetency of the owner of the savings account.

Acts 1963, No. 227, § 41; A.S.A. 1947, § 67-1841.
Ark. Code Ann. § 23-99-1706 — AR Code / Title 23 / Chapter 99 / Subchapter 17 / Section 23-99-1706
Enforcement - Rules
Status: in_force

(a) A contracting entity is subject to the Trade Practices Act, § 23-66-201 et seq. (b) The expenses of implementing this subchapter shall not be used as justification to increase premiums or decrease payments to any ambulance provider or medical facility. (c) The Insurance Commissioner may promulgate rules necessary to implement and enforce this subchapter. Added by Act 2023, No. 578,§ 1, eff. 8/1/2023.

(a) A contracting entity is subject to the Trade Practices Act, § 23-66-201 et seq.

(b) The expenses of implementing this subchapter shall not be used as justification to increase premiums or decrease payments to any ambulance provider or medical facility.

(c) The Insurance Commissioner may promulgate rules necessary to implement and enforce this subchapter.

Added by Act 2023, No. 578,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 23-4-1101 — AR Code / Title 23 / Chapter 4 / Subchapter 11 / Section 23-4-1101
Definitions
Status: in_force

As used in this subchapter: (1) "Board" means the board of directors of a generation and transmission cooperative; (2) "Generation and transmission cooperative" means a rural electric cooperative formed under the Electric Cooperative Corporation Act, § 23-18-301 et seq., that: (A) Does not have a certificated service territory; and (B) Exclusively sells electricity at wholesale; (3) "Member cooperative" means a rural electric cooperative that sells electricity at retail and is a member of a generation and transmission cooperative; and (4) "Retail cooperative member" means the individual member-owner of a member cooperative. Acts 2009, No. 676, § 1.

As used in this subchapter:

(1) "Board" means the board of directors of a generation and transmission cooperative;

(2) "Generation and transmission cooperative" means a rural electric cooperative formed under the Electric Cooperative Corporation Act, § 23-18-301 et seq., that: (A) Does not have a certificated service territory; and (B) Exclusively sells electricity at wholesale;

(A) Does not have a certificated service territory; and

(B) Exclusively sells electricity at wholesale;

(3) "Member cooperative" means a rural electric cooperative that sells electricity at retail and is a member of a generation and transmission cooperative; and

(4) "Retail cooperative member" means the individual member-owner of a member cooperative.

Acts 2009, No. 676, § 1.
Ark. Code Ann. § 23-99-1128 — AR Code / Title 23 / Chapter 99 / Subchapter 11 / Section 23-99-1128
Prescription drugs, medicines, biological products, pharmaceuticals, or pharmaceutical services
Status: in_force

(a) (1) Beginning on January 1, 2024, a healthcare insurer or pharmacy benefits manager shall submit a written request to the Arkansas State Board of Pharmacy for any prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service to be reviewed for a continuation of prior authorization by a specified health benefit plan whether or not a healthcare provider has met the criteria for an exemption from prior authorization under §§ 23-99-1120 - 23-99-1126 . (2) The request under subdivision (a)(1) of this section shall state the reason the request is being made for each prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service for the specified health benefit plan. (b) The Arkansas State Board of Pharmacy and the Arkansas State Medical Board, jointly, may establish criteria and procedures to review whether a request made under subdivision (a)(1) of this section should be granted for the requesting party and specified health benefit plan. (c) (1) The Arkansas State Board of Pharmacy and the Arkansas State Medical Board, jointly, may determine whether or not a prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service may be subject to prior authorization by a health benefit plan under the criteria and procedures under subsection (b) of this section. (2) The Arkansas State Board of Pharmacy shall promptly notify the entity that made the request of the joint decision made by the Arkansas State Board of Pharmacy and the Arkansas State Medical Board. (d) The Arkansas State Board of Pharmacy shall make available to any person who requests it, a list for any health benefit plan of prescription drugs, medicines, biological products, pharmaceuticals, or pharmaceutical services that require a prior authorization under this section. Added by Act 2023, No. 575,§ 5, eff. 8/1/2023.

(a) (1) Beginning on January 1, 2024, a healthcare insurer or pharmacy benefits manager shall submit a written request to the Arkansas State Board of Pharmacy for any prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service to be reviewed for a continuation of prior authorization by a specified health benefit plan whether or not a healthcare provider has met the criteria for an exemption from prior authorization under §§ 23-99-1120 - 23-99-1126 . (2) The request under subdivision (a)(1) of this section shall state the reason the request is being made for each prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service for the specified health benefit plan.

(1) Beginning on January 1, 2024, a healthcare insurer or pharmacy benefits manager shall submit a written request to the Arkansas State Board of Pharmacy for any prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service to be reviewed for a continuation of prior authorization by a specified health benefit plan whether or not a healthcare provider has met the criteria for an exemption from prior authorization under §§ 23-99-1120 - 23-99-1126 .

(2) The request under subdivision (a)(1) of this section shall state the reason the request is being made for each prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service for the specified health benefit plan.

(b) The Arkansas State Board of Pharmacy and the Arkansas State Medical Board, jointly, may establish criteria and procedures to review whether a request made under subdivision (a)(1) of this section should be granted for the requesting party and specified health benefit plan.

(c) (1) The Arkansas State Board of Pharmacy and the Arkansas State Medical Board, jointly, may determine whether or not a prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service may be subject to prior authorization by a health benefit plan under the criteria and procedures under subsection (b) of this section. (2) The Arkansas State Board of Pharmacy shall promptly notify the entity that made the request of the joint decision made by the Arkansas State Board of Pharmacy and the Arkansas State Medical Board.

(1) The Arkansas State Board of Pharmacy and the Arkansas State Medical Board, jointly, may determine whether or not a prescription drug, medicine, biological product, pharmaceutical, or pharmaceutical service may be subject to prior authorization by a health benefit plan under the criteria and procedures under subsection (b) of this section.

(2) The Arkansas State Board of Pharmacy shall promptly notify the entity that made the request of the joint decision made by the Arkansas State Board of Pharmacy and the Arkansas State Medical Board.

(d) The Arkansas State Board of Pharmacy shall make available to any person who requests it, a list for any health benefit plan of prescription drugs, medicines, biological products, pharmaceuticals, or pharmaceutical services that require a prior authorization under this section.

Added by Act 2023, No. 575,§ 5, eff. 8/1/2023.
Ark. Code Ann. § 23-18-506 — AR Code / Title 23 / Chapter 18 / Subchapter 5 / Section 23-18-506
Division of Environmental Quality's and Arkansas Pollution Control and Ecology Commission's jurisdiction unaffected by subchapter
Status: in_force

(a) This subchapter does not affect the: (1) Jurisdiction of the Division of Environmental Quality or the Arkansas Pollution Control and Ecology Commission with respect to water and air pollution control or other matters within the jurisdiction of the division or the Arkansas Pollution Control and Ecology Commission; and (2) Requirement that a person apply for and obtain a permit from the division as provided by the Arkansas Water and Air Pollution Control Act, § 8-4-101 et seq. (b) This subchapter does not confer upon the Arkansas Public Service Commission any authority or jurisdiction conferred by law upon the division or the Arkansas Pollution Control and Ecology Commission. (c) Notwithstanding the exemption provisions of § 23-18-504 , each major utility facility constructed in Arkansas is subject to the environmental rules and regulations of the state and federal regulatory bodies having jurisdiction over the air, water, and other environmental impacts associated with the major utility facility. Amended by Act 2019, No. 910,§ 3241, eff. 7/1/2019. Acts 1973, No. 164, § 19; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.18; Acts 1999, No. 1164, § 179; 2011, No. 910, § 4.

(a) This subchapter does not affect the: (1) Jurisdiction of the Division of Environmental Quality or the Arkansas Pollution Control and Ecology Commission with respect to water and air pollution control or other matters within the jurisdiction of the division or the Arkansas Pollution Control and Ecology Commission; and (2) Requirement that a person apply for and obtain a permit from the division as provided by the Arkansas Water and Air Pollution Control Act, § 8-4-101 et seq.

(1) Jurisdiction of the Division of Environmental Quality or the Arkansas Pollution Control and Ecology Commission with respect to water and air pollution control or other matters within the jurisdiction of the division or the Arkansas Pollution Control and Ecology Commission; and

(2) Requirement that a person apply for and obtain a permit from the division as provided by the Arkansas Water and Air Pollution Control Act, § 8-4-101 et seq.

(b) This subchapter does not confer upon the Arkansas Public Service Commission any authority or jurisdiction conferred by law upon the division or the Arkansas Pollution Control and Ecology Commission.

(c) Notwithstanding the exemption provisions of § 23-18-504 , each major utility facility constructed in Arkansas is subject to the environmental rules and regulations of the state and federal regulatory bodies having jurisdiction over the air, water, and other environmental impacts associated with the major utility facility.

Amended by Act 2019, No. 910,§ 3241, eff. 7/1/2019.

Acts 1973, No. 164, § 19; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.18; Acts 1999, No. 1164, § 179; 2011, No. 910, § 4.
Ark. Code Ann. § 23-51-170 — AR Code / Title 23 / Chapter 51 / Section 23-51-170
Trust business
Status: in_force

A state trust company or a state bank may: (1) Perform any act as a fiduciary; (2) Engage in any trust business; (3) Exercise any incidental power that is reasonably necessary to enable it to fully exercise, according to commonly accepted fiduciary customs and usages, a power conferred in this chapter; and (4) If a state trust company, exercise any other power authorized by § 23-51-104 . Acts 1997, No. 940, § 70.

A state trust company or a state bank may:

(1) Perform any act as a fiduciary;

(2) Engage in any trust business;

(3) Exercise any incidental power that is reasonably necessary to enable it to fully exercise, according to commonly accepted fiduciary customs and usages, a power conferred in this chapter; and

(4) If a state trust company, exercise any other power authorized by § 23-51-104 .

Acts 1997, No. 940, § 70.
Ark. Code Ann. § 23-112-1002 — AR Code / Title 23 / Chapter 112 / Subchapter 10 / Section 23-112-1002
Legislative findings
Status: in_force

The General Assembly finds that: (1) The distribution and sale of recreational vehicles vitally affects the general economy, the public interest, and the public welfare; and (2) It is necessary, in the exercise of the General Assembly's police power, to regulate and to license recreational vehicle manufacturers, factory branches and divisions, distributors, distributor branches and divisions, distributor representatives, and dealers doing business in Arkansas to: (A) Prevent fraud, unfair practices, discrimination, impositions, and other abuses upon the citizens of Arkansas; (B) Foster and keep alive vigorous and healthy competition; (C) Prevent the creation or perpetuation of monopolies; (D) Prevent the practice of requiring the buying of special features, accessories, special models, appliances, and equipment not desired by a recreational vehicle dealer or the ultimate purchaser; (E) Prevent false and misleading advertising; (F) Promote and keep alive a sound system of distribution of recreational vehicles to the public; and (G) Promote the public safety and welfare. Amended by Act 2021, No. 504,§ 12, eff. 7/28/2021. Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.

The General Assembly finds that:

(1) The distribution and sale of recreational vehicles vitally affects the general economy, the public interest, and the public welfare; and

(2) It is necessary, in the exercise of the General Assembly's police power, to regulate and to license recreational vehicle manufacturers, factory branches and divisions, distributors, distributor branches and divisions, distributor representatives, and dealers doing business in Arkansas to: (A) Prevent fraud, unfair practices, discrimination, impositions, and other abuses upon the citizens of Arkansas; (B) Foster and keep alive vigorous and healthy competition; (C) Prevent the creation or perpetuation of monopolies; (D) Prevent the practice of requiring the buying of special features, accessories, special models, appliances, and equipment not desired by a recreational vehicle dealer or the ultimate purchaser; (E) Prevent false and misleading advertising; (F) Promote and keep alive a sound system of distribution of recreational vehicles to the public; and (G) Promote the public safety and welfare.

(A) Prevent fraud, unfair practices, discrimination, impositions, and other abuses upon the citizens of Arkansas;

(B) Foster and keep alive vigorous and healthy competition;

(C) Prevent the creation or perpetuation of monopolies;

(D) Prevent the practice of requiring the buying of special features, accessories, special models, appliances, and equipment not desired by a recreational vehicle dealer or the ultimate purchaser;

(E) Prevent false and misleading advertising;

(F) Promote and keep alive a sound system of distribution of recreational vehicles to the public; and

(G) Promote the public safety and welfare.

Amended by Act 2021, No. 504,§ 12, eff. 7/28/2021.

Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.
Ark. Code Ann. § 23-37-102 — AR Code / Title 23 / Chapter 37 / Subchapter 1 / Section 23-37-102
Acts 1963, No. 227, controlling
Status: in_force

Insofar as the provisions of this act are inconsistent with the provisions of any other law affecting savings and loan associations or building and loan associations, the provisions of this act shall control. Acts 1963, No. 227, § 62; A.S.A. 1947, § 67-1862.

Insofar as the provisions of this act are inconsistent with the provisions of any other law affecting savings and loan associations or building and loan associations, the provisions of this act shall control.

Acts 1963, No. 227, § 62; A.S.A. 1947, § 67-1862.
Ark. Code Ann. § 23-60-108 — AR Code / Title 23 / Chapter 60 / Section 23-60-108
Penalty generally
Status: in_force

Unless a greater penalty is provided by another law of this state, a violation of a statute or rule enforceable by the Insurance Commissioner is punishable: (1) By the refusal, suspension, revocation, or nonrenewal of a license or certificate of authority; and (2) A fine no greater than one thousand dollars ($1,000) per violation, not to exceed fifty thousand dollars ($50,000) in any six-month period. Amended by Act 2019, No. 315,§ 2609, eff. 7/24/2019. Acts 1959, No. 148, § 15; A.S.A. 1947, § 66-2015; Acts 2009, No. 726, § 4.

Unless a greater penalty is provided by another law of this state, a violation of a statute or rule enforceable by the Insurance Commissioner is punishable:

(1) By the refusal, suspension, revocation, or nonrenewal of a license or certificate of authority; and

(2) A fine no greater than one thousand dollars ($1,000) per violation, not to exceed fifty thousand dollars ($50,000) in any six-month period.

Amended by Act 2019, No. 315,§ 2609, eff. 7/24/2019.

Acts 1959, No. 148, § 15; A.S.A. 1947, § 66-2015; Acts 2009, No. 726, § 4.
Ark. Code Ann. § 23-81-312 — AR Code / Title 23 / Chapter 81 / Subchapter 3 / Section 23-81-312
Operative date
Status: in_force

(a) After June 17, 1981, any insurer may file with the Insurance Commissioner a written notice of its election to comply with the provisions of this subchapter after a specified date before January 1, 1983. (b) After the filing of the notice, then upon the specified date, which shall be the operative date of this subchapter for the insurer, this subchapter shall become operative with respect to annuity contracts thereafter issued by the insurer. (c) If an insurer makes no election, the operative date of this subchapter for the insurer shall be January 1, 1983. Acts 1981, No. 492, § 1; A.S.A. 1947, § 66-3327.1.

(a) After June 17, 1981, any insurer may file with the Insurance Commissioner a written notice of its election to comply with the provisions of this subchapter after a specified date before January 1, 1983.

(b) After the filing of the notice, then upon the specified date, which shall be the operative date of this subchapter for the insurer, this subchapter shall become operative with respect to annuity contracts thereafter issued by the insurer.

(c) If an insurer makes no election, the operative date of this subchapter for the insurer shall be January 1, 1983.

Acts 1981, No. 492, § 1; A.S.A. 1947, § 66-3327.1.
Ark. Code Ann. § 23-13-305 — AR Code / Title 23 / Chapter 13 / Subchapter 3 / Section 23-13-305
Time and place of hearing
Status: in_force

Upon the filing of the answer provided for in § 23-13-303 , the Arkansas Department of Transportation shall set a time and place for the hearing. Notice of the time and place of the hearing shall be served not less than ten (10) days before the time set therefor unless the department finds that public necessity requires the hearing at an earlier date. Amended by Act 2017, No. 707,§ 224, eff. 8/1/2017. Acts 1939, No. 315, § 6; A.S.A. 1947, § 73-1735.

Upon the filing of the answer provided for in § 23-13-303 , the Arkansas Department of Transportation shall set a time and place for the hearing. Notice of the time and place of the hearing shall be served not less than ten (10) days before the time set therefor unless the department finds that public necessity requires the hearing at an earlier date.

Amended by Act 2017, No. 707,§ 224, eff. 8/1/2017.

Acts 1939, No. 315, § 6; A.S.A. 1947, § 73-1735.
Ark. Code Ann. § 23-63-1103 — AR Code / Title 23 / Chapter 63 / Subchapter 11 / Section 23-63-1103
Date of required compliance
Status: in_force

Compliance with this subchapter shall be required on and after January 1, 1994. Acts 1993, No. 526, § 2.

Compliance with this subchapter shall be required on and after January 1, 1994.

Acts 1993, No. 526, § 2.
Ark. Code Ann. § 23-63-612 — AR Code / Title 23 / Chapter 63 / Subchapter 6 / Section 23-63-612
Purpose - Compliance date
Status: in_force

(a) It is the intention of this act to allow the Insurance Commissioner to adopt rules to modernize and harmonize the financial accounting laws of this state governing assets and liabilities of domestic reporting entities as defined. This act requires domestic health maintenance organizations, domestic title insurers, and other types of domestic licensees to modernize financial accounting methods in order to comply with laws and rules of the state applicable to domestic insurance companies and reporting entities. The provisions of this act are designed to allow domestic licensees to compete in the financial and insurance markets with changing federal and state laws, particularly those dealing with the treatment of assets, liabilities, and financial accounting. (b) The provisions of this act are intended to and shall govern the financial reports for the year 2001 of domestic reporting entities and shall govern the annual report for the year 2001 of domestic reporting entities due at the State Insurance Department on and after March 1, 2002, and supported by quarterly reports of 2001 for the first three (3) quarters. The provisions of this act shall govern as to all quarterly and annual financial reports due in subsequent reporting periods. (c) This act shall govern: (1) Domestic stock and mutual insurers; (2) Domestic reciprocal and stipulated premium plan insurers; (3) Domestic mutual assessment life and disability insurers; (4) Domestic farmers' mutual aid associations or companies; (5) Domestic title insurers; (6) Domestic health maintenance organizations; (7) Domestic hospital or medical service organizations; (8) Domestic licensed casualty insurers transacting business as a risk retention group; or (9) Other domestic reporting entities as used in this act. (d) Provided, however, if the immediate application of this act would have the effect of reducing any domestic reporting entity's statutory surplus, whether due to the nonadmission or reduction in admissible value of any then-existing asset or an increase in its then-existing liabilities or other changes, the domestic reporting entity may continue to reflect such assets and liabilities on its statutory financial statements as they could have been reflected but for the enactment of this act until the annual statement filing for the year ending December 31, 2004. Acts 1959, No. 148, § 95; A.S.A. 1947, § 66-2514; Acts 1995, No. 1272, § 14; 2001, No. 1566, § 10.

(a) It is the intention of this act to allow the Insurance Commissioner to adopt rules to modernize and harmonize the financial accounting laws of this state governing assets and liabilities of domestic reporting entities as defined. This act requires domestic health maintenance organizations, domestic title insurers, and other types of domestic licensees to modernize financial accounting methods in order to comply with laws and rules of the state applicable to domestic insurance companies and reporting entities. The provisions of this act are designed to allow domestic licensees to compete in the financial and insurance markets with changing federal and state laws, particularly those dealing with the treatment of assets, liabilities, and financial accounting.

(b) The provisions of this act are intended to and shall govern the financial reports for the year 2001 of domestic reporting entities and shall govern the annual report for the year 2001 of domestic reporting entities due at the State Insurance Department on and after March 1, 2002, and supported by quarterly reports of 2001 for the first three (3) quarters. The provisions of this act shall govern as to all quarterly and annual financial reports due in subsequent reporting periods.

(c) This act shall govern: (1) Domestic stock and mutual insurers; (2) Domestic reciprocal and stipulated premium plan insurers; (3) Domestic mutual assessment life and disability insurers; (4) Domestic farmers' mutual aid associations or companies; (5) Domestic title insurers; (6) Domestic health maintenance organizations; (7) Domestic hospital or medical service organizations; (8) Domestic licensed casualty insurers transacting business as a risk retention group; or (9) Other domestic reporting entities as used in this act.

(1) Domestic stock and mutual insurers;

(2) Domestic reciprocal and stipulated premium plan insurers;

(3) Domestic mutual assessment life and disability insurers;

(4) Domestic farmers' mutual aid associations or companies;

(5) Domestic title insurers;

(6) Domestic health maintenance organizations;

(7) Domestic hospital or medical service organizations;

(8) Domestic licensed casualty insurers transacting business as a risk retention group; or

(9) Other domestic reporting entities as used in this act.

(d) Provided, however, if the immediate application of this act would have the effect of reducing any domestic reporting entity's statutory surplus, whether due to the nonadmission or reduction in admissible value of any then-existing asset or an increase in its then-existing liabilities or other changes, the domestic reporting entity may continue to reflect such assets and liabilities on its statutory financial statements as they could have been reflected but for the enactment of this act until the annual statement filing for the year ending December 31, 2004.

Acts 1959, No. 148, § 95; A.S.A. 1947, § 66-2514; Acts 1995, No. 1272, § 14; 2001, No. 1566, § 10.
Ark. Code Ann. § 23-47-803 — AR Code / Title 23 / Chapter 47 / Subchapter 8 / Section 23-47-803
Substitution of subsidiary trust company or national trust company for affiliated bank
Status: in_force

(a) A subsidiary trust company or national trust company and one (1) or more of its affiliated banks may enter into one (1) or more agreements under which the subsidiary trust company or national trust company is substituted as fiduciary for each affiliated bank in each fiduciary account listed in the agreement. The agreement shall be filed with the Bank Commissioner before the effective date of the substitution and must include: (1) A list of each fiduciary account for which substitution is requested; and (2) The effective date of the substitution, which may not be less than ninety (90) days after the date of the agreement. (b) Not later than ninety (90) days before the effective date of a substitution under this section, the parties to the substitution agreement shall send written notice of the substitution to the following: (1) Each person who is readily ascertainable as a beneficiary of the account because of the receipt of statements of account by the person, or in the case of a minor beneficiary, by a parent, conservator, or guardian of the minor beneficiary; (2) Each cofiduciary; (3) Each surviving settlor of a trust; (4) Each issuer of a security for which the affiliated bank administers a fiduciary account; (5) The plan sponsor of each employee benefit plan; (6) The principal of each agency account; and (7) The guardian of the person of each ward under guardianship. (c) (1) The notice must be sent by United States mail to the person's current address as shown on the fiduciary records. (2) If the fiduciary has no address for the person on its records, the fiduciary shall make a reasonable attempt to ascertain the person's current address. (3) The notice must disclose the person's rights with respect to objecting to the transfer of the fiduciary account and the liability of the existing fiduciary and the substitute fiduciary for their actions. (4) Intentional failure to send the required notice renders the substitution of fiduciary ineffective, but an unintentional failure to send the required notice does not impair the validity or effect of substitution. (5) If a substitution of a subsidiary trust company is ineffective because of a defect in the required notice, the actions taken by the subsidiary trust company before the determination of the invalidity of the substitution are valid if the actions would have been valid if performed by the affiliated bank. (d) (1) Except as provided by this subsection, the prospective designation in a will or other instrument of the affiliated bank as fiduciary is considered designation of the subsidiary trust company or national trust company, and any grant in the will or other instrument of any discretionary power is considered conferred on the subsidiary trust company or national trust company. (2) However, the affiliated bank and subsidiary trust company or national trust company may agree in writing to have the designation of the affiliated bank as fiduciary be binding, or the creator of the fiduciary account may, by appropriate language in the document creating the fiduciary account, provide that the fiduciary account is not eligible for substitution under this subchapter. (e) Substitution under this section is effective for all purposes on the effective date stated in the agreement between the subsidiary trust company or national trust company and the affiliated bank, unless, not later than fifteen (15) days before the effective date, a party entitled to notice of the substitution under subsection (b) of this section files a written petition in a court of competent jurisdiction seeking to have the substitution denied under § 23-47-804 and provides the affiliated bank with a copy of the filed petition. (f) If a petition is filed and notice is given under subsection (e) of this section, the substitution takes effect when the petition is withdrawn or dismissed or when the court enters a final order denying the relief sought. (g) (1) On the effective date, the subsidiary trust company or national trust company succeeds to all right, title, and interest in all property that the affiliated bank holds as fiduciary, except property held for accounts for which there has been no substitution under this subchapter, without the necessity of any instrument of transfer or conveyance, and the subsidiary trust company or national trust company shall, without the necessity of any judicial action or action by the creator of the fiduciary account, become fiduciary and perform all the duties and obligations and exercise all the powers and authority connected with or incidental to that fiduciary capacity in the same manner as if the subsidiary trust company or national trust company had been originally named or designated fiduciary. (2) However, the affiliated bank is responsible and liable for all actions taken by it while it acted as fiduciary. Acts 1997, No. 89, § 1.

(a) A subsidiary trust company or national trust company and one (1) or more of its affiliated banks may enter into one (1) or more agreements under which the subsidiary trust company or national trust company is substituted as fiduciary for each affiliated bank in each fiduciary account listed in the agreement. The agreement shall be filed with the Bank Commissioner before the effective date of the substitution and must include: (1) A list of each fiduciary account for which substitution is requested; and (2) The effective date of the substitution, which may not be less than ninety (90) days after the date of the agreement.

(1) A list of each fiduciary account for which substitution is requested; and

(2) The effective date of the substitution, which may not be less than ninety (90) days after the date of the agreement.

(b) Not later than ninety (90) days before the effective date of a substitution under this section, the parties to the substitution agreement shall send written notice of the substitution to the following: (1) Each person who is readily ascertainable as a beneficiary of the account because of the receipt of statements of account by the person, or in the case of a minor beneficiary, by a parent, conservator, or guardian of the minor beneficiary; (2) Each cofiduciary; (3) Each surviving settlor of a trust; (4) Each issuer of a security for which the affiliated bank administers a fiduciary account; (5) The plan sponsor of each employee benefit plan; (6) The principal of each agency account; and (7) The guardian of the person of each ward under guardianship.

(1) Each person who is readily ascertainable as a beneficiary of the account because of the receipt of statements of account by the person, or in the case of a minor beneficiary, by a parent, conservator, or guardian of the minor beneficiary;

(2) Each cofiduciary;

(3) Each surviving settlor of a trust;

(4) Each issuer of a security for which the affiliated bank administers a fiduciary account;

(5) The plan sponsor of each employee benefit plan;

(6) The principal of each agency account; and

(7) The guardian of the person of each ward under guardianship.

(c) (1) The notice must be sent by United States mail to the person's current address as shown on the fiduciary records. (2) If the fiduciary has no address for the person on its records, the fiduciary shall make a reasonable attempt to ascertain the person's current address. (3) The notice must disclose the person's rights with respect to objecting to the transfer of the fiduciary account and the liability of the existing fiduciary and the substitute fiduciary for their actions. (4) Intentional failure to send the required notice renders the substitution of fiduciary ineffective, but an unintentional failure to send the required notice does not impair the validity or effect of substitution. (5) If a substitution of a subsidiary trust company is ineffective because of a defect in the required notice, the actions taken by the subsidiary trust company before the determination of the invalidity of the substitution are valid if the actions would have been valid if performed by the affiliated bank.

(1) The notice must be sent by United States mail to the person's current address as shown on the fiduciary records.

(2) If the fiduciary has no address for the person on its records, the fiduciary shall make a reasonable attempt to ascertain the person's current address.

(3) The notice must disclose the person's rights with respect to objecting to the transfer of the fiduciary account and the liability of the existing fiduciary and the substitute fiduciary for their actions.

(4) Intentional failure to send the required notice renders the substitution of fiduciary ineffective, but an unintentional failure to send the required notice does not impair the validity or effect of substitution.

(5) If a substitution of a subsidiary trust company is ineffective because of a defect in the required notice, the actions taken by the subsidiary trust company before the determination of the invalidity of the substitution are valid if the actions would have been valid if performed by the affiliated bank.

(d) (1) Except as provided by this subsection, the prospective designation in a will or other instrument of the affiliated bank as fiduciary is considered designation of the subsidiary trust company or national trust company, and any grant in the will or other instrument of any discretionary power is considered conferred on the subsidiary trust company or national trust company. (2) However, the affiliated bank and subsidiary trust company or national trust company may agree in writing to have the designation of the affiliated bank as fiduciary be binding, or the creator of the fiduciary account may, by appropriate language in the document creating the fiduciary account, provide that the fiduciary account is not eligible for substitution under this subchapter.

(1) Except as provided by this subsection, the prospective designation in a will or other instrument of the affiliated bank as fiduciary is considered designation of the subsidiary trust company or national trust company, and any grant in the will or other instrument of any discretionary power is considered conferred on the subsidiary trust company or national trust company.

(2) However, the affiliated bank and subsidiary trust company or national trust company may agree in writing to have the designation of the affiliated bank as fiduciary be binding, or the creator of the fiduciary account may, by appropriate language in the document creating the fiduciary account, provide that the fiduciary account is not eligible for substitution under this subchapter.

(e) Substitution under this section is effective for all purposes on the effective date stated in the agreement between the subsidiary trust company or national trust company and the affiliated bank, unless, not later than fifteen (15) days before the effective date, a party entitled to notice of the substitution under subsection (b) of this section files a written petition in a court of competent jurisdiction seeking to have the substitution denied under § 23-47-804 and provides the affiliated bank with a copy of the filed petition.

(f) If a petition is filed and notice is given under subsection (e) of this section, the substitution takes effect when the petition is withdrawn or dismissed or when the court enters a final order denying the relief sought.

(g) (1) On the effective date, the subsidiary trust company or national trust company succeeds to all right, title, and interest in all property that the affiliated bank holds as fiduciary, except property held for accounts for which there has been no substitution under this subchapter, without the necessity of any instrument of transfer or conveyance, and the subsidiary trust company or national trust company shall, without the necessity of any judicial action or action by the creator of the fiduciary account, become fiduciary and perform all the duties and obligations and exercise all the powers and authority connected with or incidental to that fiduciary capacity in the same manner as if the subsidiary trust company or national trust company had been originally named or designated fiduciary. (2) However, the affiliated bank is responsible and liable for all actions taken by it while it acted as fiduciary.

(1) On the effective date, the subsidiary trust company or national trust company succeeds to all right, title, and interest in all property that the affiliated bank holds as fiduciary, except property held for accounts for which there has been no substitution under this subchapter, without the necessity of any instrument of transfer or conveyance, and the subsidiary trust company or national trust company shall, without the necessity of any judicial action or action by the creator of the fiduciary account, become fiduciary and perform all the duties and obligations and exercise all the powers and authority connected with or incidental to that fiduciary capacity in the same manner as if the subsidiary trust company or national trust company had been originally named or designated fiduciary.

(2) However, the affiliated bank is responsible and liable for all actions taken by it while it acted as fiduciary.

Acts 1997, No. 89, § 1.
Ark. Code Ann. § 23-81-124 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-124
Annuity and pure endowment contracts - Integrity of contract provision
Status: in_force

In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract shall constitute the entire contract between the parties or, if a copy of the application is endorsed upon or attached to the contract when issued, a provision that the contract and the application shall constitute the entire contract between the parties. Acts 1959, No. 148, § 327; A.S.A. 1947, § 66-3318.

In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract shall constitute the entire contract between the parties or, if a copy of the application is endorsed upon or attached to the contract when issued, a provision that the contract and the application shall constitute the entire contract between the parties.

Acts 1959, No. 148, § 327; A.S.A. 1947, § 66-3318.
Ark. Code Ann. § 23-12-104 — AR Code / Title 23 / Chapter 12 / Subchapter 1 / Section 23-12-104
Number and frequency of trains and streetcars
Status: in_force

(a) If in the judgment of the Arkansas Department of Transportation any railroad corporation or street railroad corporation does not run trains enough or cars enough or possess or operate motive power enough reasonably to accommodate the passenger and freight traffic transported by or offered for transportation to it, or does not run its trains or cars with sufficient frequency or at reasonable or proper time, having regard to safety, or does not run any train or car upon a reasonable time schedule for the run, then, after a hearing either on its own motion or after complaint, the department shall have power to make an order directing any such railroad corporation or street railroad corporation to increase the number of its trains or of its cars or its motive power, or to change the time for starting its trains or cars, or to change the time schedule for the run of any train or car, or make any other suitable order that the department may determine reasonably necessary to accommodate and transport the passenger or freight traffic transported or offered for transportation. (b) No railroad corporation, street railroad corporation, or common carrier shall abandon, take up, or cease to operate for the transportation of passengers or freight any line, or any portion of its line, which it may deem no longer necessary for the successful operation of its road and for the convenience of the public without first obtaining the permission and approval of the department. (c) Nothing in this section shall authorize the department to make any order with reference to the amount of cars or motive power or with reference to the schedule or with reference to the operation or nonoperation of that part of any street railroad within the limits of any municipality of this state. It is the intention of this act that the jurisdiction as to such matters shall be elsewhere under this act delegated to municipal councils and city commissions of this state. Amended by Act 2017, No. 707,§ 172, eff. 8/1/2017. Acts 1919, No. 571, § 10; C. & M. Dig., §§ 1632, 1651; Acts 1921, No. 124, § 7; Pope's Dig., §§ 1972, 2006; A.S.A. 1947, § 73-122.

(a) If in the judgment of the Arkansas Department of Transportation any railroad corporation or street railroad corporation does not run trains enough or cars enough or possess or operate motive power enough reasonably to accommodate the passenger and freight traffic transported by or offered for transportation to it, or does not run its trains or cars with sufficient frequency or at reasonable or proper time, having regard to safety, or does not run any train or car upon a reasonable time schedule for the run, then, after a hearing either on its own motion or after complaint, the department shall have power to make an order directing any such railroad corporation or street railroad corporation to increase the number of its trains or of its cars or its motive power, or to change the time for starting its trains or cars, or to change the time schedule for the run of any train or car, or make any other suitable order that the department may determine reasonably necessary to accommodate and transport the passenger or freight traffic transported or offered for transportation.

(b) No railroad corporation, street railroad corporation, or common carrier shall abandon, take up, or cease to operate for the transportation of passengers or freight any line, or any portion of its line, which it may deem no longer necessary for the successful operation of its road and for the convenience of the public without first obtaining the permission and approval of the department.

(c) Nothing in this section shall authorize the department to make any order with reference to the amount of cars or motive power or with reference to the schedule or with reference to the operation or nonoperation of that part of any street railroad within the limits of any municipality of this state. It is the intention of this act that the jurisdiction as to such matters shall be elsewhere under this act delegated to municipal councils and city commissions of this state.

Amended by Act 2017, No. 707,§ 172, eff. 8/1/2017.

Acts 1919, No. 571, § 10; C. & M. Dig., §§ 1632, 1651; Acts 1921, No. 124, § 7; Pope's Dig., §§ 1972, 2006; A.S.A. 1947, § 73-122.
Ark. Code Ann. § 23-51-184 — AR Code / Title 23 / Chapter 51 / Section 23-51-184
Commissioner shall supervise and examine authorized trust institutions
Status: in_force

Every authorized trust institution shall be under the supervision of the Bank Commissioner. The commissioner shall execute and enforce through the State Bank Department and such other agents as are now or may hereafter be created or appointed, all laws which are now or may hereafter be enacted relating to authorized trust institutions. For the more complete and thorough enforcement of the provisions of this chapter, the commissioner is hereby empowered to promulgate such rules not inconsistent with the provisions of this chapter, as may, in his or her opinion, be necessary to carry out the provisions of the laws relating to authorized trust institutions and as may be further necessary to insure safe and conservative management of an authorized trust institution under his or her supervision taking into consideration the appropriate interest of the creditors, stockholders, and the public in their relations with the authorized trust institutions. All authorized trust institutions doing business under the provisions of this chapter shall conduct their business in a manner consistent with all laws relating to authorized trust institutions and all rules and instructions that may be promulgated or issued by the commissioner. Amended by Act 2019, No. 315,§ 2602, eff. 7/24/2019. Acts 1997, No. 940, § 84.

Every authorized trust institution shall be under the supervision of the Bank Commissioner. The commissioner shall execute and enforce through the State Bank Department and such other agents as are now or may hereafter be created or appointed, all laws which are now or may hereafter be enacted relating to authorized trust institutions. For the more complete and thorough enforcement of the provisions of this chapter, the commissioner is hereby empowered to promulgate such rules not inconsistent with the provisions of this chapter, as may, in his or her opinion, be necessary to carry out the provisions of the laws relating to authorized trust institutions and as may be further necessary to insure safe and conservative management of an authorized trust institution under his or her supervision taking into consideration the appropriate interest of the creditors, stockholders, and the public in their relations with the authorized trust institutions. All authorized trust institutions doing business under the provisions of this chapter shall conduct their business in a manner consistent with all laws relating to authorized trust institutions and all rules and instructions that may be promulgated or issued by the commissioner.

Amended by Act 2019, No. 315,§ 2602, eff. 7/24/2019.

Acts 1997, No. 940, § 84.
Ark. Code Ann. § 23-13-230 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-230
Brokers - Licenses - Rules for protection of public
Status: in_force

(a) (1) A person shall not for compensation sell or offer for sale transportation subject to this subchapter; make any contract, agreement, or arrangement to provide, procure, furnish, or arrange for such transportation; or hold himself or herself or itself out by advertisements, solicitation, or otherwise as one who sells, provides, procures, contracts, or arranges for such transportation unless that person holds a broker's license issued by the Arkansas Department of Transportation to engage in such transactions. (2) In the execution of any contract, agreement, or arrangement to sell, provide, procure, furnish, or arrange for such transportation, it shall be unlawful for such a person to employ any carrier by motor vehicle who or which is not the lawful holder of an effective certificate or permit issued as provided in this subchapter. (3) The provisions of this subsection shall not apply to any carrier holding a certificate or a permit under the provisions of this subchapter or to any bona fide employee or agent of such a motor carrier, so far as concerns transportation to be furnished wholly by such a carrier or jointly with other motor carriers holding like certificates or permits or with a common carrier by railroad, express, or water. (b) A brokerage license shall be issued to any qualified applicant therefor, authorizing the whole or any part of the operations covered by the application, if it is found that the applicant is fit, willing, and able properly to perform the service proposed and to conform to the provisions of this subchapter and the requirements and rules of the department thereunder and that the proposed service, to the extent authorized by the license, will promote the public interest and policy declared in this subchapter; otherwise the application shall be denied. (c) The department shall prescribe reasonable rules for the protection of travelers or shippers by motor vehicle, to be observed by any person holding a brokerage license. No such license shall be issued or remain in force unless the person shall have furnished a bond or other security approved by the department, in such form and amount as will insure financial responsibility and the supplying of authorized transportation in accordance with contracts, agreements, or arrangements therefor. (d) The department and its agents shall have the same authority as to accounts, reports, and records, including inspection and preservation thereof, of any person holding a brokerage license issued under the provisions of this section, that they have under this subchapter with respect to motor carriers subject thereto. Amended by Act 2019, No. 315,§ 2428, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 204, eff. 8/1/2017. Acts 1955, No. 397, § 13; A.S.A. 1947, § 73-1766.

(a) (1) A person shall not for compensation sell or offer for sale transportation subject to this subchapter; make any contract, agreement, or arrangement to provide, procure, furnish, or arrange for such transportation; or hold himself or herself or itself out by advertisements, solicitation, or otherwise as one who sells, provides, procures, contracts, or arranges for such transportation unless that person holds a broker's license issued by the Arkansas Department of Transportation to engage in such transactions. (2) In the execution of any contract, agreement, or arrangement to sell, provide, procure, furnish, or arrange for such transportation, it shall be unlawful for such a person to employ any carrier by motor vehicle who or which is not the lawful holder of an effective certificate or permit issued as provided in this subchapter. (3) The provisions of this subsection shall not apply to any carrier holding a certificate or a permit under the provisions of this subchapter or to any bona fide employee or agent of such a motor carrier, so far as concerns transportation to be furnished wholly by such a carrier or jointly with other motor carriers holding like certificates or permits or with a common carrier by railroad, express, or water.

(1) A person shall not for compensation sell or offer for sale transportation subject to this subchapter; make any contract, agreement, or arrangement to provide, procure, furnish, or arrange for such transportation; or hold himself or herself or itself out by advertisements, solicitation, or otherwise as one who sells, provides, procures, contracts, or arranges for such transportation unless that person holds a broker's license issued by the Arkansas Department of Transportation to engage in such transactions.

(2) In the execution of any contract, agreement, or arrangement to sell, provide, procure, furnish, or arrange for such transportation, it shall be unlawful for such a person to employ any carrier by motor vehicle who or which is not the lawful holder of an effective certificate or permit issued as provided in this subchapter.

(3) The provisions of this subsection shall not apply to any carrier holding a certificate or a permit under the provisions of this subchapter or to any bona fide employee or agent of such a motor carrier, so far as concerns transportation to be furnished wholly by such a carrier or jointly with other motor carriers holding like certificates or permits or with a common carrier by railroad, express, or water.

(b) A brokerage license shall be issued to any qualified applicant therefor, authorizing the whole or any part of the operations covered by the application, if it is found that the applicant is fit, willing, and able properly to perform the service proposed and to conform to the provisions of this subchapter and the requirements and rules of the department thereunder and that the proposed service, to the extent authorized by the license, will promote the public interest and policy declared in this subchapter; otherwise the application shall be denied.

(c) The department shall prescribe reasonable rules for the protection of travelers or shippers by motor vehicle, to be observed by any person holding a brokerage license. No such license shall be issued or remain in force unless the person shall have furnished a bond or other security approved by the department, in such form and amount as will insure financial responsibility and the supplying of authorized transportation in accordance with contracts, agreements, or arrangements therefor.

(d) The department and its agents shall have the same authority as to accounts, reports, and records, including inspection and preservation thereof, of any person holding a brokerage license issued under the provisions of this section, that they have under this subchapter with respect to motor carriers subject thereto.

Amended by Act 2019, No. 315,§ 2428, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 204, eff. 8/1/2017.

Acts 1955, No. 397, § 13; A.S.A. 1947, § 73-1766.
Ark. Code Ann. § 23-115-1005 — AR Code / Title 23 / Chapter 115 / Subchapter 10 / Section 23-115-1005
Confidential information
Status: in_force

(a) (1) Notwithstanding any other confidentiality statute, the Office of the Arkansas Lottery may provide to a claimant agency all information necessary to accomplish and effectuate the intent of this subchapter. (2) Information shall be used by a claimant agency only in the pursuit of its debt collection duties and practices. (b) Confidential information obtained by a claimant agency from the office under this section shall retain its confidentiality. (c) An employee or prior employee of a claimant agency who unlawfully discloses any information for any other purpose, except as otherwise specifically authorized by law, is guilty of a Class A misdemeanor. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1.

(a) (1) Notwithstanding any other confidentiality statute, the Office of the Arkansas Lottery may provide to a claimant agency all information necessary to accomplish and effectuate the intent of this subchapter. (2) Information shall be used by a claimant agency only in the pursuit of its debt collection duties and practices.

(1) Notwithstanding any other confidentiality statute, the Office of the Arkansas Lottery may provide to a claimant agency all information necessary to accomplish and effectuate the intent of this subchapter.

(2) Information shall be used by a claimant agency only in the pursuit of its debt collection duties and practices.

(b) Confidential information obtained by a claimant agency from the office under this section shall retain its confidentiality.

(c) An employee or prior employee of a claimant agency who unlawfully discloses any information for any other purpose, except as otherwise specifically authorized by law, is guilty of a Class A misdemeanor.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1.
Ark. Code Ann. § 23-18-514 — AR Code / Title 23 / Chapter 18 / Subchapter 5 / Section 23-18-514
Application for certificate - Commentary by state agencies - Deficiency letters
Status: in_force

(a) (1) Promptly after the filing of an application for a certificate of environmental compatibility and public need, the staff of the Arkansas Public Service Commission shall invite comments from all state agencies entitled to service under § 23-18-513 as to the adequacy of applicant's statements. (2) The invitation to comment shall advise the state agencies that comments must be received within sixty (60) days of the date of mailing or delivery thereof, unless an agency requests for cause a longer period for consideration. (b) (1) Upon review of the comments, if any, if the staff shall determine that the applicant failed to include or adequately develop any relevant environmental or economic aspect of the facility, it shall issue a deficiency letter pointing out in detail all such specific deficiencies in the statements. (2) The deficiency letter shall be prepared and served upon the applicant as promptly as possible and in no event later than twenty (20) days before the date set for the public hearing. (3) The applicant shall promptly respond to any deficiency letter, and the public hearing shall be deferred unless the applicant has responded prior thereto to any deficiency letter. Acts 1973, No. 164, § 5; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.4.

(a) (1) Promptly after the filing of an application for a certificate of environmental compatibility and public need, the staff of the Arkansas Public Service Commission shall invite comments from all state agencies entitled to service under § 23-18-513 as to the adequacy of applicant's statements. (2) The invitation to comment shall advise the state agencies that comments must be received within sixty (60) days of the date of mailing or delivery thereof, unless an agency requests for cause a longer period for consideration.

(1) Promptly after the filing of an application for a certificate of environmental compatibility and public need, the staff of the Arkansas Public Service Commission shall invite comments from all state agencies entitled to service under § 23-18-513 as to the adequacy of applicant's statements.

(2) The invitation to comment shall advise the state agencies that comments must be received within sixty (60) days of the date of mailing or delivery thereof, unless an agency requests for cause a longer period for consideration.

(b) (1) Upon review of the comments, if any, if the staff shall determine that the applicant failed to include or adequately develop any relevant environmental or economic aspect of the facility, it shall issue a deficiency letter pointing out in detail all such specific deficiencies in the statements. (2) The deficiency letter shall be prepared and served upon the applicant as promptly as possible and in no event later than twenty (20) days before the date set for the public hearing. (3) The applicant shall promptly respond to any deficiency letter, and the public hearing shall be deferred unless the applicant has responded prior thereto to any deficiency letter.

(1) Upon review of the comments, if any, if the staff shall determine that the applicant failed to include or adequately develop any relevant environmental or economic aspect of the facility, it shall issue a deficiency letter pointing out in detail all such specific deficiencies in the statements.

(2) The deficiency letter shall be prepared and served upon the applicant as promptly as possible and in no event later than twenty (20) days before the date set for the public hearing.

(3) The applicant shall promptly respond to any deficiency letter, and the public hearing shall be deferred unless the applicant has responded prior thereto to any deficiency letter.

Acts 1973, No. 164, § 5; 1977, No. 866, § 1; A.S.A. 1947, § 73-276.4.
Ark. Code Ann. § 23-14-106 — AR Code / Title 23 / Chapter 14 / Section 23-14-106
Control, supervision, and regulation by department
Status: in_force

A person engaging in air commerce is declared to be subject to control, supervision, and regulation by the Arkansas Department of Transportation. Amended by Act 2017, No. 707,§ 236, eff. 8/1/2017. Acts 1945, No. 252, § 3; A.S.A. 1947, § 74-403.

A person engaging in air commerce is declared to be subject to control, supervision, and regulation by the Arkansas Department of Transportation.

Amended by Act 2017, No. 707,§ 236, eff. 8/1/2017.

Acts 1945, No. 252, § 3; A.S.A. 1947, § 74-403.
Ark. Code Ann. § 23-63-906 — AR Code / Title 23 / Chapter 63 / Subchapter 9 / Section 23-63-906
Assignment or conveyance of securities or assets - Appraisal
Status: in_force

(a) (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office. (2) All other assets so deposited shall be transferred or conveyed to the commissioner. (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer. (b) The commissioner may, in his or her discretion, prior to acceptance for deposit of any security or asset, or at any time thereafter while so deposited, have the security or asset appraised or valued by competent appraisers. The reasonable costs of the appraisal or valuation shall be borne by the insurer. Acts 1959, No. 148, § 137; A.S.A. 1947, § 66-2706.

(a) (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office. (2) All other assets so deposited shall be transferred or conveyed to the commissioner. (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer.

(1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office.

(2) All other assets so deposited shall be transferred or conveyed to the commissioner.

(3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer.

(b) The commissioner may, in his or her discretion, prior to acceptance for deposit of any security or asset, or at any time thereafter while so deposited, have the security or asset appraised or valued by competent appraisers. The reasonable costs of the appraisal or valuation shall be borne by the insurer.

Acts 1959, No. 148, § 137; A.S.A. 1947, § 66-2706.
Ark. Code Ann. § 23-112-502 — AR Code / Title 23 / Chapter 112 / Subchapter 5 / Section 23-112-502
Call for hearing
Status: in_force

(a) Any interested party may petition the Arkansas Motor Vehicle Commission to call a hearing for the purpose of taking action with respect to any matter within the commission's jurisdiction by filing with the commission a notarized complaint setting forth grounds upon which the complaint is based. Upon review of the complaint, the commission shall determine whether to call a hearing. (b) On its own motion, the commission may call a hearing for the purpose of taking action in respect to any matter within its jurisdiction. Acts 1975, No. 388, § 7; A.S.A. 1947, § 75-2307; Acts 1989, No. 65, § 7; 1999, No. 1042, § 11.

(a) Any interested party may petition the Arkansas Motor Vehicle Commission to call a hearing for the purpose of taking action with respect to any matter within the commission's jurisdiction by filing with the commission a notarized complaint setting forth grounds upon which the complaint is based. Upon review of the complaint, the commission shall determine whether to call a hearing.

(b) On its own motion, the commission may call a hearing for the purpose of taking action in respect to any matter within its jurisdiction.

Acts 1975, No. 388, § 7; A.S.A. 1947, § 75-2307; Acts 1989, No. 65, § 7; 1999, No. 1042, § 11.
Ark. Code Ann. § 23-110-305 — AR Code / Title 23 / Chapter 110 / Subchapter 3 / Section 23-110-305
Construction of racing plant - Issuance of permanent franchise
Status: in_force

(a) (1) (A) If a majority of the qualified electors of the state voting on the question vote for authorizing the Arkansas Racing Commission to grant a franchise to conduct horse racing in the county, the corporation holding a temporary franchise shall, within ninety (90) days following the date of receipt of notification thereof from the commission as provided in § 23-110-304(d) , acquire a site and commence the construction of buildings and facilities which it proposes to use in conducting horse racing meets. (B) Failure of the corporation to acquire a site and commence construction within the ninety-day period shall constitute a forfeit of the temporary franchise. (C) The commission shall cancel the temporary franchise of any holder of such a franchise, and the cancellation shall constitute a forfeit thereof by the corporation if the: (i) Holder of a temporary franchise acquires a site and commences construction within the ninety-day period but fails to complete construction and be open for business within one (1) year next following the end of the ninety-day period; (ii) Construction by the holder of a temporary franchise is not in substantial compliance with the plans and specifications theretofore filed with, and approved by, the commission; or (iii) Aggregate total of costs of acquisition of a site, construction of buildings and facilities, and purchase of equipment by the holder of a temporary franchise is less than three million dollars ($3,000,000). (2) However, nothing contained in this section shall be so construed as to prohibit mutual agreement on the part of the commission and the corporation to making such changes in the plans and specifications for construction as may be deemed necessary or desirable, but no changes may be agreed to which will have the effect of reducing the total aggregate cost of plant and equipment below three million dollars ($3,000,000). (b) (1) Upon completion of any plant, within the time, in the manner, and at the minimum cost as provided in subsection (a) of this section and upon the payment of a franchise fee in the amount of twenty-five thousand dollars ($25,000) to the commission by the holder of the temporary franchise, the commission shall issue its franchise in exchange for the temporary franchise held by the corporation. The corporation may then proceed to conduct horse racing meets in accordance with the provisions of this chapter or other applicable law. (2) The franchise shall thereafter be effective in the hands of the corporation unless and until terminated by operation of law, or sooner if terminated by the commission based upon the corporation's failure to comply with applicable horse racing laws or by the voluntary forfeiture of the franchise by the franchise holder. Acts 1957, No. 46, § 15; 1965 (2nd Ex. Sess.), No. 8, § 4; A.S.A. 1947, § 84-2741; Acts 2001, No. 1553, § 54.

(a) (1) (A) If a majority of the qualified electors of the state voting on the question vote for authorizing the Arkansas Racing Commission to grant a franchise to conduct horse racing in the county, the corporation holding a temporary franchise shall, within ninety (90) days following the date of receipt of notification thereof from the commission as provided in § 23-110-304(d) , acquire a site and commence the construction of buildings and facilities which it proposes to use in conducting horse racing meets. (B) Failure of the corporation to acquire a site and commence construction within the ninety-day period shall constitute a forfeit of the temporary franchise. (C) The commission shall cancel the temporary franchise of any holder of such a franchise, and the cancellation shall constitute a forfeit thereof by the corporation if the: (i) Holder of a temporary franchise acquires a site and commences construction within the ninety-day period but fails to complete construction and be open for business within one (1) year next following the end of the ninety-day period; (ii) Construction by the holder of a temporary franchise is not in substantial compliance with the plans and specifications theretofore filed with, and approved by, the commission; or (iii) Aggregate total of costs of acquisition of a site, construction of buildings and facilities, and purchase of equipment by the holder of a temporary franchise is less than three million dollars ($3,000,000). (2) However, nothing contained in this section shall be so construed as to prohibit mutual agreement on the part of the commission and the corporation to making such changes in the plans and specifications for construction as may be deemed necessary or desirable, but no changes may be agreed to which will have the effect of reducing the total aggregate cost of plant and equipment below three million dollars ($3,000,000).

(1) (A) If a majority of the qualified electors of the state voting on the question vote for authorizing the Arkansas Racing Commission to grant a franchise to conduct horse racing in the county, the corporation holding a temporary franchise shall, within ninety (90) days following the date of receipt of notification thereof from the commission as provided in § 23-110-304(d) , acquire a site and commence the construction of buildings and facilities which it proposes to use in conducting horse racing meets. (B) Failure of the corporation to acquire a site and commence construction within the ninety-day period shall constitute a forfeit of the temporary franchise. (C) The commission shall cancel the temporary franchise of any holder of such a franchise, and the cancellation shall constitute a forfeit thereof by the corporation if the: (i) Holder of a temporary franchise acquires a site and commences construction within the ninety-day period but fails to complete construction and be open for business within one (1) year next following the end of the ninety-day period; (ii) Construction by the holder of a temporary franchise is not in substantial compliance with the plans and specifications theretofore filed with, and approved by, the commission; or (iii) Aggregate total of costs of acquisition of a site, construction of buildings and facilities, and purchase of equipment by the holder of a temporary franchise is less than three million dollars ($3,000,000).

(A) If a majority of the qualified electors of the state voting on the question vote for authorizing the Arkansas Racing Commission to grant a franchise to conduct horse racing in the county, the corporation holding a temporary franchise shall, within ninety (90) days following the date of receipt of notification thereof from the commission as provided in § 23-110-304(d) , acquire a site and commence the construction of buildings and facilities which it proposes to use in conducting horse racing meets.

(B) Failure of the corporation to acquire a site and commence construction within the ninety-day period shall constitute a forfeit of the temporary franchise.

(C) The commission shall cancel the temporary franchise of any holder of such a franchise, and the cancellation shall constitute a forfeit thereof by the corporation if the: (i) Holder of a temporary franchise acquires a site and commences construction within the ninety-day period but fails to complete construction and be open for business within one (1) year next following the end of the ninety-day period; (ii) Construction by the holder of a temporary franchise is not in substantial compliance with the plans and specifications theretofore filed with, and approved by, the commission; or (iii) Aggregate total of costs of acquisition of a site, construction of buildings and facilities, and purchase of equipment by the holder of a temporary franchise is less than three million dollars ($3,000,000).

(i) Holder of a temporary franchise acquires a site and commences construction within the ninety-day period but fails to complete construction and be open for business within one (1) year next following the end of the ninety-day period;

(ii) Construction by the holder of a temporary franchise is not in substantial compliance with the plans and specifications theretofore filed with, and approved by, the commission; or

(iii) Aggregate total of costs of acquisition of a site, construction of buildings and facilities, and purchase of equipment by the holder of a temporary franchise is less than three million dollars ($3,000,000).

(2) However, nothing contained in this section shall be so construed as to prohibit mutual agreement on the part of the commission and the corporation to making such changes in the plans and specifications for construction as may be deemed necessary or desirable, but no changes may be agreed to which will have the effect of reducing the total aggregate cost of plant and equipment below three million dollars ($3,000,000).

(b) (1) Upon completion of any plant, within the time, in the manner, and at the minimum cost as provided in subsection (a) of this section and upon the payment of a franchise fee in the amount of twenty-five thousand dollars ($25,000) to the commission by the holder of the temporary franchise, the commission shall issue its franchise in exchange for the temporary franchise held by the corporation. The corporation may then proceed to conduct horse racing meets in accordance with the provisions of this chapter or other applicable law. (2) The franchise shall thereafter be effective in the hands of the corporation unless and until terminated by operation of law, or sooner if terminated by the commission based upon the corporation's failure to comply with applicable horse racing laws or by the voluntary forfeiture of the franchise by the franchise holder.

(1) Upon completion of any plant, within the time, in the manner, and at the minimum cost as provided in subsection (a) of this section and upon the payment of a franchise fee in the amount of twenty-five thousand dollars ($25,000) to the commission by the holder of the temporary franchise, the commission shall issue its franchise in exchange for the temporary franchise held by the corporation. The corporation may then proceed to conduct horse racing meets in accordance with the provisions of this chapter or other applicable law.

(2) The franchise shall thereafter be effective in the hands of the corporation unless and until terminated by operation of law, or sooner if terminated by the commission based upon the corporation's failure to comply with applicable horse racing laws or by the voluntary forfeiture of the franchise by the franchise holder.

Acts 1957, No. 46, § 15; 1965 (2nd Ex. Sess.), No. 8, § 4; A.S.A. 1947, § 84-2741; Acts 2001, No. 1553, § 54.
Ark. Code Ann. § 23-2-415 — AR Code / Title 23 / Chapter 2 / Subchapter 4 / Section 23-2-415
Hearings generally
Status: in_force

(a) In addition to the hearings specifically provided for by this act, the commission may conduct such other hearings as may be required or expedient in the administration of the powers and duties conferred upon it by this act. (b) The commission shall fix the time and place of all hearings and shall serve notice of the hearing not less than ten (10) days before the time set for the hearing, unless the commission finds that public necessity requires that the hearing be held at an earlier date. (c) At the time fixed for any hearing before the commission, a commissioner, or examiner, or the time to which any hearing may have been continued, the complainant and the person or corporation complained of shall be entitled in person or by attorney to be heard and to introduce evidence and to examine and cross-examine witnesses. Acts 1935, No. 324, § 29; Pope's Dig., § 2092; A.S.A. 1947, § 73-228.

(a) In addition to the hearings specifically provided for by this act, the commission may conduct such other hearings as may be required or expedient in the administration of the powers and duties conferred upon it by this act.

(b) The commission shall fix the time and place of all hearings and shall serve notice of the hearing not less than ten (10) days before the time set for the hearing, unless the commission finds that public necessity requires that the hearing be held at an earlier date.

(c) At the time fixed for any hearing before the commission, a commissioner, or examiner, or the time to which any hearing may have been continued, the complainant and the person or corporation complained of shall be entitled in person or by attorney to be heard and to introduce evidence and to examine and cross-examine witnesses.

Acts 1935, No. 324, § 29; Pope's Dig., § 2092; A.S.A. 1947, § 73-228.
Ark. Code Ann. § 23-103-407 — AR Code / Title 23 / Chapter 103 / Subchapter 4 / Section 23-103-407
Agency contracts
Status: in_force

(a) (1) A person acting in the capacity of a title insurance agency shall not place business with a title insurer, and a title insurer shall not accept business from a title insurance agency unless a written contract exists between the title insurer and title insurance agency. (2) The written contract shall establish the responsibilities of the title insurer and title insurance agency and specify the division of the responsibilities if both share responsibility for a particular function. (3) The written contract shall also contain: (A) The types of risks that may be undertaken; (B) The maximum authority or limits of liability; (C) The territorial limitations; (D) All terms of compensation for the title insurance agency; (E) Policies and funds remittance; (F) Termination provisions; (G) (i) The date by which all funds and policies due under the contract shall be accounted for to the title insurer. (ii) The date shall be no later than sixty (60) days after: (a) Issuance of the policy; (b) The satisfaction of all requirements and conditions of any report; or (c) The time specified in the contract if less than sixty (60) days; and (H) The time in which the title insurance agency has to report and forward to the title insurer all claims filed in writing with the title insurance agency by policyholders or other claimants. (b) The contract shall not be assigned in whole or in part by the title insurance agency unless as part of a sale of a title insurance agency or its assets and approved in writing by the title insurer. (c) (1) The title insurer may terminate the contract upon written notice to the title insurance agency under any of the following circumstances: (A) Fraud, insolvency, appointment of a receiver or conservator, bankruptcy, cancellation of the title insurance agency's license or permit to do business, or the commencement of legal proceedings by the state of the domicile of the title insurance agency, which if successful would lead to the cancellation of the title insurance agency's permit or license to do business; (B) Material breach of any provision of the contract between the title insurer and the title insurance agency; or (C) In accordance with any other termination provision of the contract. (2) Upon the effective date as set forth in the notice of termination from a title insurer unless otherwise agreed to in writing by the title insurer, the title insurance agency shall immediately discontinue all title insurance business on behalf of that title insurer. (3) This subsection does not relieve the title insurance agency or the title insurer of any other contractual obligation. Acts 2007, No. 684, § 6; 2009, No. 1190, § 5.

(a) (1) A person acting in the capacity of a title insurance agency shall not place business with a title insurer, and a title insurer shall not accept business from a title insurance agency unless a written contract exists between the title insurer and title insurance agency. (2) The written contract shall establish the responsibilities of the title insurer and title insurance agency and specify the division of the responsibilities if both share responsibility for a particular function. (3) The written contract shall also contain: (A) The types of risks that may be undertaken; (B) The maximum authority or limits of liability; (C) The territorial limitations; (D) All terms of compensation for the title insurance agency; (E) Policies and funds remittance; (F) Termination provisions; (G) (i) The date by which all funds and policies due under the contract shall be accounted for to the title insurer. (ii) The date shall be no later than sixty (60) days after: (a) Issuance of the policy; (b) The satisfaction of all requirements and conditions of any report; or (c) The time specified in the contract if less than sixty (60) days; and (H) The time in which the title insurance agency has to report and forward to the title insurer all claims filed in writing with the title insurance agency by policyholders or other claimants.

(1) A person acting in the capacity of a title insurance agency shall not place business with a title insurer, and a title insurer shall not accept business from a title insurance agency unless a written contract exists between the title insurer and title insurance agency.

(2) The written contract shall establish the responsibilities of the title insurer and title insurance agency and specify the division of the responsibilities if both share responsibility for a particular function.

(3) The written contract shall also contain: (A) The types of risks that may be undertaken; (B) The maximum authority or limits of liability; (C) The territorial limitations; (D) All terms of compensation for the title insurance agency; (E) Policies and funds remittance; (F) Termination provisions; (G) (i) The date by which all funds and policies due under the contract shall be accounted for to the title insurer. (ii) The date shall be no later than sixty (60) days after: (a) Issuance of the policy; (b) The satisfaction of all requirements and conditions of any report; or (c) The time specified in the contract if less than sixty (60) days; and (H) The time in which the title insurance agency has to report and forward to the title insurer all claims filed in writing with the title insurance agency by policyholders or other claimants.

(A) The types of risks that may be undertaken;

(B) The maximum authority or limits of liability;

(C) The territorial limitations;

(D) All terms of compensation for the title insurance agency;

(E) Policies and funds remittance;

(F) Termination provisions;

(G) (i) The date by which all funds and policies due under the contract shall be accounted for to the title insurer. (ii) The date shall be no later than sixty (60) days after: (a) Issuance of the policy; (b) The satisfaction of all requirements and conditions of any report; or (c) The time specified in the contract if less than sixty (60) days; and

(i) The date by which all funds and policies due under the contract shall be accounted for to the title insurer.

(ii) The date shall be no later than sixty (60) days after: (a) Issuance of the policy; (b) The satisfaction of all requirements and conditions of any report; or (c) The time specified in the contract if less than sixty (60) days; and

(a) Issuance of the policy;

(b) The satisfaction of all requirements and conditions of any report; or

(c) The time specified in the contract if less than sixty (60) days; and

(H) The time in which the title insurance agency has to report and forward to the title insurer all claims filed in writing with the title insurance agency by policyholders or other claimants.

(b) The contract shall not be assigned in whole or in part by the title insurance agency unless as part of a sale of a title insurance agency or its assets and approved in writing by the title insurer.

(c) (1) The title insurer may terminate the contract upon written notice to the title insurance agency under any of the following circumstances: (A) Fraud, insolvency, appointment of a receiver or conservator, bankruptcy, cancellation of the title insurance agency's license or permit to do business, or the commencement of legal proceedings by the state of the domicile of the title insurance agency, which if successful would lead to the cancellation of the title insurance agency's permit or license to do business; (B) Material breach of any provision of the contract between the title insurer and the title insurance agency; or (C) In accordance with any other termination provision of the contract. (2) Upon the effective date as set forth in the notice of termination from a title insurer unless otherwise agreed to in writing by the title insurer, the title insurance agency shall immediately discontinue all title insurance business on behalf of that title insurer. (3) This subsection does not relieve the title insurance agency or the title insurer of any other contractual obligation.

(1) The title insurer may terminate the contract upon written notice to the title insurance agency under any of the following circumstances: (A) Fraud, insolvency, appointment of a receiver or conservator, bankruptcy, cancellation of the title insurance agency's license or permit to do business, or the commencement of legal proceedings by the state of the domicile of the title insurance agency, which if successful would lead to the cancellation of the title insurance agency's permit or license to do business; (B) Material breach of any provision of the contract between the title insurer and the title insurance agency; or (C) In accordance with any other termination provision of the contract.

(A) Fraud, insolvency, appointment of a receiver or conservator, bankruptcy, cancellation of the title insurance agency's license or permit to do business, or the commencement of legal proceedings by the state of the domicile of the title insurance agency, which if successful would lead to the cancellation of the title insurance agency's permit or license to do business;

(B) Material breach of any provision of the contract between the title insurer and the title insurance agency; or

(C) In accordance with any other termination provision of the contract.

(2) Upon the effective date as set forth in the notice of termination from a title insurer unless otherwise agreed to in writing by the title insurer, the title insurance agency shall immediately discontinue all title insurance business on behalf of that title insurer.

(3) This subsection does not relieve the title insurance agency or the title insurer of any other contractual obligation.

Acts 2007, No. 684, § 6; 2009, No. 1190, § 5.
Ark. Code Ann. § 23-64-403 — AR Code / Title 23 / Chapter 64 / Subchapter 4 / Section 23-64-403
License - Surety requirements
Status: in_force

(a) No person, firm, association, limited liability company, or corporation shall act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless the person is a licensed managing general agent in this state. (b) No person, firm, association, limited liability company, or corporation shall act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless the person is licensed as a managing general agent in this state pursuant to the provisions of this subchapter. The license may be a nonresident license. (c) The Insurance Commissioner may require the managing general agent to post a bond in an amount acceptable to him or her for the protection of the insurer. (d) The commissioner may require the managing general agent to maintain an errors and omissions policy. (e) The commissioner shall not require a license under this subchapter for insurers acting in the capacity of a managing general agent or agency in this state for risks located in this state, nor for acting for a domestic insurer with respect to risks located outside this state, so long as those insurers hold a subsisting certificate of authority listing the same lines of insurance as it will transact as a managing general agent or agency in this state. Acts 1993, No. 1094, § 1; 1997, No. 1004, § 1; 2001, No. 1604, § 43.

(a) No person, firm, association, limited liability company, or corporation shall act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless the person is a licensed managing general agent in this state.

(b) No person, firm, association, limited liability company, or corporation shall act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless the person is licensed as a managing general agent in this state pursuant to the provisions of this subchapter. The license may be a nonresident license.

(c) The Insurance Commissioner may require the managing general agent to post a bond in an amount acceptable to him or her for the protection of the insurer.

(d) The commissioner may require the managing general agent to maintain an errors and omissions policy.

(e) The commissioner shall not require a license under this subchapter for insurers acting in the capacity of a managing general agent or agency in this state for risks located in this state, nor for acting for a domestic insurer with respect to risks located outside this state, so long as those insurers hold a subsisting certificate of authority listing the same lines of insurance as it will transact as a managing general agent or agency in this state.

Acts 1993, No. 1094, § 1; 1997, No. 1004, § 1; 2001, No. 1604, § 43.