Ark. Code Ann. § 23-86-102 — AR Code / Title 23 / Chapter 86 / Subchapter 1 / Section 23-86-102
Blanket accident and health insurance - Required provisions
Status: in_force

(a) Any insurer authorized to write accident and health insurance in this state shall have the power to issue blanket accident and health insurance. (b) No blanket policy may be issued or delivered in this state unless a copy of the form shall have been filed in accordance with § 23-79-109 . (c) Every blanket policy shall contain provisions that in the opinion of the Insurance Commissioner are at least as favorable to the policyholder and the individual insured as the following: (1) A provision that the policy and the application shall constitute the entire contract between the parties and that all statements made by the policyholder, in the absence of fraud, shall be deemed representations and not warranties, and that no such statements shall be used in defense to a claim under the policy, unless it is contained in a written application; (2) (A) A provision that written notice of sickness or of injury must be given to the insurer within twenty (20) days after the date when such sickness or injury occurred. (B) Failure to give notice within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to give such notice and that notice was given as soon as was reasonably possible; (3) (A) A provision that the insurer will furnish to the policyholder such forms as are usually furnished by it for filing proof of loss. (B) If the forms are not furnished before the expiration of fifteen (15) days after the giving of the notice, the claimant shall be deemed to have complied with the requirements of the policy as to proof of loss upon submitting, within the time fixed in the policy for filing proof of loss, written proof covering the occurrence, character, and extent of the loss for which claim is made; (4) (A) A provision that in the case of claim for loss of time for disability, written proof of the loss must be furnished to the insurer within thirty (30) days after the commencement of the period for which the insurer is liable, and the subsequent written proofs of the continuance of the disability must be furnished to the insurer at such intervals as the insurer may reasonably require, and that in the case of claim for any other loss, written proof of the loss must be furnished to the insurer within ninety (90) days after the date of loss. (B) Failure to furnish proof within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to furnish the proof and that the proof was furnished as soon as was reasonably possible; (5) A provision that all benefits payable under the policy other than benefits for loss of time will be payable immediately upon receipt of due written proof of the loss, and that, subject to due proof of loss, all accrued benefits payable under the policy for loss of time will be paid not later than at the expiration of each period of thirty (30) days during the continuance of the period for which the insurer is liable, and that any balance remaining unpaid at the termination of the period will be paid immediately upon receipt of the proof; (6) A provision that the insurer, at its own expense, shall have the right and opportunity to examine the person of the insured when and so often as it may reasonably require during the pendency of claim under the policy and also the right and opportunity to make an autopsy in case of death where it is not prohibited by law; (7) A provision that no action at law or in equity shall be brought to recover under the policy prior to the expiration of sixty (60) days after written proof of loss has been furnished in accordance with the requirements of the policy and that no such action shall be brought after the expiration of three (3) years after the time written proof of loss is required to be furnished; and (8) (A) In any contract that contains a provision whereby coverage of a dependent in a family group terminates at a specified age, there shall also be a provision that coverage of an unmarried dependent who is incapable of sustaining employment by reason of intellectual and developmental disability or physical disability, who became so incapacitated prior to the attainment of nineteen (19) years of age, and who is chiefly dependent upon the employee for support and maintenance shall not terminate, but coverage shall continue so long as the contract remains in force and so long as the dependent remains in such condition. (B) At the request and expense of the insurer, proof of the incapacity or dependency must be furnished to the insurer by the policyholder. In no event shall this requirement preclude eligible dependents under Acts 1975, No. 649, § 5, as amended, regardless of age. (C) If the incapacity or dependency is thereafter removed or terminated, the policyholder shall so notify the insurer. Amended by Act 2019, No. 1035,§ 52, eff. 7/24/2019. Acts 1959, No. 148, § 423; 1967, No. 418, § 4; 1969, No. 263, § 4; 1975, No. 404, § 3; 1975, No. 649, §§ 3, 8; 1983, No. 522, §§ 33, 48; A.S.A. 1947, § 66-3705; Acts 1997, No. 208, § 27; 2001, No. 1063, § 3.

(a) Any insurer authorized to write accident and health insurance in this state shall have the power to issue blanket accident and health insurance.

(b) No blanket policy may be issued or delivered in this state unless a copy of the form shall have been filed in accordance with § 23-79-109 .

(c) Every blanket policy shall contain provisions that in the opinion of the Insurance Commissioner are at least as favorable to the policyholder and the individual insured as the following: (1) A provision that the policy and the application shall constitute the entire contract between the parties and that all statements made by the policyholder, in the absence of fraud, shall be deemed representations and not warranties, and that no such statements shall be used in defense to a claim under the policy, unless it is contained in a written application; (2) (A) A provision that written notice of sickness or of injury must be given to the insurer within twenty (20) days after the date when such sickness or injury occurred. (B) Failure to give notice within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to give such notice and that notice was given as soon as was reasonably possible; (3) (A) A provision that the insurer will furnish to the policyholder such forms as are usually furnished by it for filing proof of loss. (B) If the forms are not furnished before the expiration of fifteen (15) days after the giving of the notice, the claimant shall be deemed to have complied with the requirements of the policy as to proof of loss upon submitting, within the time fixed in the policy for filing proof of loss, written proof covering the occurrence, character, and extent of the loss for which claim is made; (4) (A) A provision that in the case of claim for loss of time for disability, written proof of the loss must be furnished to the insurer within thirty (30) days after the commencement of the period for which the insurer is liable, and the subsequent written proofs of the continuance of the disability must be furnished to the insurer at such intervals as the insurer may reasonably require, and that in the case of claim for any other loss, written proof of the loss must be furnished to the insurer within ninety (90) days after the date of loss. (B) Failure to furnish proof within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to furnish the proof and that the proof was furnished as soon as was reasonably possible; (5) A provision that all benefits payable under the policy other than benefits for loss of time will be payable immediately upon receipt of due written proof of the loss, and that, subject to due proof of loss, all accrued benefits payable under the policy for loss of time will be paid not later than at the expiration of each period of thirty (30) days during the continuance of the period for which the insurer is liable, and that any balance remaining unpaid at the termination of the period will be paid immediately upon receipt of the proof; (6) A provision that the insurer, at its own expense, shall have the right and opportunity to examine the person of the insured when and so often as it may reasonably require during the pendency of claim under the policy and also the right and opportunity to make an autopsy in case of death where it is not prohibited by law; (7) A provision that no action at law or in equity shall be brought to recover under the policy prior to the expiration of sixty (60) days after written proof of loss has been furnished in accordance with the requirements of the policy and that no such action shall be brought after the expiration of three (3) years after the time written proof of loss is required to be furnished; and (8) (A) In any contract that contains a provision whereby coverage of a dependent in a family group terminates at a specified age, there shall also be a provision that coverage of an unmarried dependent who is incapable of sustaining employment by reason of intellectual and developmental disability or physical disability, who became so incapacitated prior to the attainment of nineteen (19) years of age, and who is chiefly dependent upon the employee for support and maintenance shall not terminate, but coverage shall continue so long as the contract remains in force and so long as the dependent remains in such condition. (B) At the request and expense of the insurer, proof of the incapacity or dependency must be furnished to the insurer by the policyholder. In no event shall this requirement preclude eligible dependents under Acts 1975, No. 649, § 5, as amended, regardless of age. (C) If the incapacity or dependency is thereafter removed or terminated, the policyholder shall so notify the insurer.

(1) A provision that the policy and the application shall constitute the entire contract between the parties and that all statements made by the policyholder, in the absence of fraud, shall be deemed representations and not warranties, and that no such statements shall be used in defense to a claim under the policy, unless it is contained in a written application;

(2) (A) A provision that written notice of sickness or of injury must be given to the insurer within twenty (20) days after the date when such sickness or injury occurred. (B) Failure to give notice within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to give such notice and that notice was given as soon as was reasonably possible;

(A) A provision that written notice of sickness or of injury must be given to the insurer within twenty (20) days after the date when such sickness or injury occurred.

(B) Failure to give notice within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to give such notice and that notice was given as soon as was reasonably possible;

(3) (A) A provision that the insurer will furnish to the policyholder such forms as are usually furnished by it for filing proof of loss. (B) If the forms are not furnished before the expiration of fifteen (15) days after the giving of the notice, the claimant shall be deemed to have complied with the requirements of the policy as to proof of loss upon submitting, within the time fixed in the policy for filing proof of loss, written proof covering the occurrence, character, and extent of the loss for which claim is made;

(A) A provision that the insurer will furnish to the policyholder such forms as are usually furnished by it for filing proof of loss.

(B) If the forms are not furnished before the expiration of fifteen (15) days after the giving of the notice, the claimant shall be deemed to have complied with the requirements of the policy as to proof of loss upon submitting, within the time fixed in the policy for filing proof of loss, written proof covering the occurrence, character, and extent of the loss for which claim is made;

(4) (A) A provision that in the case of claim for loss of time for disability, written proof of the loss must be furnished to the insurer within thirty (30) days after the commencement of the period for which the insurer is liable, and the subsequent written proofs of the continuance of the disability must be furnished to the insurer at such intervals as the insurer may reasonably require, and that in the case of claim for any other loss, written proof of the loss must be furnished to the insurer within ninety (90) days after the date of loss. (B) Failure to furnish proof within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to furnish the proof and that the proof was furnished as soon as was reasonably possible;

(A) A provision that in the case of claim for loss of time for disability, written proof of the loss must be furnished to the insurer within thirty (30) days after the commencement of the period for which the insurer is liable, and the subsequent written proofs of the continuance of the disability must be furnished to the insurer at such intervals as the insurer may reasonably require, and that in the case of claim for any other loss, written proof of the loss must be furnished to the insurer within ninety (90) days after the date of loss.

(B) Failure to furnish proof within the time shall not invalidate or reduce any claim, if it shall be shown not to have been reasonably possible to furnish the proof and that the proof was furnished as soon as was reasonably possible;

(5) A provision that all benefits payable under the policy other than benefits for loss of time will be payable immediately upon receipt of due written proof of the loss, and that, subject to due proof of loss, all accrued benefits payable under the policy for loss of time will be paid not later than at the expiration of each period of thirty (30) days during the continuance of the period for which the insurer is liable, and that any balance remaining unpaid at the termination of the period will be paid immediately upon receipt of the proof;

(6) A provision that the insurer, at its own expense, shall have the right and opportunity to examine the person of the insured when and so often as it may reasonably require during the pendency of claim under the policy and also the right and opportunity to make an autopsy in case of death where it is not prohibited by law;

(7) A provision that no action at law or in equity shall be brought to recover under the policy prior to the expiration of sixty (60) days after written proof of loss has been furnished in accordance with the requirements of the policy and that no such action shall be brought after the expiration of three (3) years after the time written proof of loss is required to be furnished; and

(8) (A) In any contract that contains a provision whereby coverage of a dependent in a family group terminates at a specified age, there shall also be a provision that coverage of an unmarried dependent who is incapable of sustaining employment by reason of intellectual and developmental disability or physical disability, who became so incapacitated prior to the attainment of nineteen (19) years of age, and who is chiefly dependent upon the employee for support and maintenance shall not terminate, but coverage shall continue so long as the contract remains in force and so long as the dependent remains in such condition. (B) At the request and expense of the insurer, proof of the incapacity or dependency must be furnished to the insurer by the policyholder. In no event shall this requirement preclude eligible dependents under Acts 1975, No. 649, § 5, as amended, regardless of age. (C) If the incapacity or dependency is thereafter removed or terminated, the policyholder shall so notify the insurer.

(A) In any contract that contains a provision whereby coverage of a dependent in a family group terminates at a specified age, there shall also be a provision that coverage of an unmarried dependent who is incapable of sustaining employment by reason of intellectual and developmental disability or physical disability, who became so incapacitated prior to the attainment of nineteen (19) years of age, and who is chiefly dependent upon the employee for support and maintenance shall not terminate, but coverage shall continue so long as the contract remains in force and so long as the dependent remains in such condition.

(B) At the request and expense of the insurer, proof of the incapacity or dependency must be furnished to the insurer by the policyholder. In no event shall this requirement preclude eligible dependents under Acts 1975, No. 649, § 5, as amended, regardless of age.

(C) If the incapacity or dependency is thereafter removed or terminated, the policyholder shall so notify the insurer.

Amended by Act 2019, No. 1035,§ 52, eff. 7/24/2019.

Acts 1959, No. 148, § 423; 1967, No. 418, § 4; 1969, No. 263, § 4; 1975, No. 404, § 3; 1975, No. 649, §§ 3, 8; 1983, No. 522, §§ 33, 48; A.S.A. 1947, § 66-3705; Acts 1997, No. 208, § 27; 2001, No. 1063, § 3.
Ark. Code Ann. § 23-81-206 — AR Code / Title 23 / Chapter 81 / Subchapter 2 / Section 23-81-206
Calculation of adjusted premiums and present values issued before operative date of section 23-81-213 (d)
Status: in_force

(a) (1) This section shall not apply to policies issued on or after the operative date of § 23-81-213(d) as defined therein. Except as provided in subsection (c) of this section, the adjusted premiums for any policy shall be calculated on an annual basis and shall be the uniform percentage of the respective premiums specified in the policy for each policy year, excluding amounts stated in the policy as extra premiums to cover impairments or special hazards, that the present value, at the date of issue of the policy of all adjusted premiums shall be equal to the sum of: (A) The then-present value of the future guaranteed benefits provided for by the policy; (B) Two percent (2%) of the amount of insurance, if the insurance is uniform in amount, or of the equivalent uniform amount, as hereinafter defined, if the amount of insurance varies with duration of the policy; (C) Forty percent (40%) of the adjusted premium for the first policy year; and (D) Twenty-five percent (25%) of either the adjusted premium for the first policy year or the adjusted premium for a whole life policy of the same uniform or equivalent uniform amount with uniform premiums for the whole of life issued at the same age for the same amount of insurance, whichever is less. (2) However, in applying the percentages specified in subdivisions (a)(1)(C) and (D) of this section, no adjusted premium shall be deemed to exceed four percent (4%) of the amount of insurance or level amount equivalent thereto. (3) The date of issue of a policy for the purpose of this subchapter shall be the date as of which the rated age of the insured is determined. (b) (1) In the case of a policy providing an amount of insurance varying with duration of the policy, the equivalent level amount thereof for the purpose of this subchapter shall be deemed to be the level amount of insurance provided by an otherwise similar policy, containing the same endowment benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the inception of the insurance as the benefits under the policy. (2) However, in the case of a policy providing an amount of insurance varying with the duration of the policy, the equivalent uniform amount thereof for the purpose of subsection (a) of this section shall be deemed to be the uniform amount of insurance provided by an otherwise similar policy, containing the same endowment benefit or benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the date of issue as the benefits under the policy. (3) However, in the case of a policy for a varying amount of insurance issued on the life of a child under ten (10) years of age, the equivalent uniform amount may be computed as though the amount of insurance provided by the policy prior to the attainment of ten (10) years of age was the amount provided by the policy at ten (10) years of age. (c) (1) The adjusted premiums for any policy providing term insurance benefits by rider or supplemental policy provision shall be equal to: (A) The adjusted premiums for an otherwise similar policy issued at the same age without the term insurance benefits, increased, during the period for which premiums for the term insurance benefits, are payable; by (B) The adjusted premiums for the term insurance. (2) Subdivisions (c)(1)(A) and (B) of this section shall be calculated separately and as specified in subsections (a) and (b) of this section except that, for the purposes of subdivisions (a)(1)(B)-(D) of this section, the amount of insurance or equivalent uniform amount of insurance used in the calculation of the adjusted premiums referred to in subdivision (c)(1)(B) of this section shall be equal to the excess of the corresponding amount determined for the entire policy over the amount used in the calculation of the adjusted premiums in subdivision (c)(1)(A) of this section. (d) (1) Except as otherwise provided in §§ 23-81-207 and 23-81-208 , all adjusted premiums and present values referred to in this subchapter shall for all policies of ordinary insurance be calculated on the basis of the Insurance Commissioner's 1941 Standard Ordinary Mortality Table, provided that for any category of ordinary insurance issued on female risks, adjusted premiums and present values may be calculated according to an age not more than three (3) years younger than the actual age of the insured, and the calculations for all policies of industrial insurance shall be made on the basis of the 1941 Standard Industrial Mortality Table. All calculations shall be made on the basis of the rate of interest, not exceeding three and one-half percent (3.5%) per annum, specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits. (2) However, in calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than one hundred thirty percent (130%) of the rates of mortality according to the applicable table. (3) Further, for insurance issued on a substandard basis, the calculation of any adjusted premiums and present values may be based on another table of mortality as may be specified by the insurer and approved by the commissioner. Acts 1959, No. 148, § 336; 1961, No. 466, §§ 3-5; 1965, No. 439, § 2; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.

(a) (1) This section shall not apply to policies issued on or after the operative date of § 23-81-213(d) as defined therein. Except as provided in subsection (c) of this section, the adjusted premiums for any policy shall be calculated on an annual basis and shall be the uniform percentage of the respective premiums specified in the policy for each policy year, excluding amounts stated in the policy as extra premiums to cover impairments or special hazards, that the present value, at the date of issue of the policy of all adjusted premiums shall be equal to the sum of: (A) The then-present value of the future guaranteed benefits provided for by the policy; (B) Two percent (2%) of the amount of insurance, if the insurance is uniform in amount, or of the equivalent uniform amount, as hereinafter defined, if the amount of insurance varies with duration of the policy; (C) Forty percent (40%) of the adjusted premium for the first policy year; and (D) Twenty-five percent (25%) of either the adjusted premium for the first policy year or the adjusted premium for a whole life policy of the same uniform or equivalent uniform amount with uniform premiums for the whole of life issued at the same age for the same amount of insurance, whichever is less. (2) However, in applying the percentages specified in subdivisions (a)(1)(C) and (D) of this section, no adjusted premium shall be deemed to exceed four percent (4%) of the amount of insurance or level amount equivalent thereto. (3) The date of issue of a policy for the purpose of this subchapter shall be the date as of which the rated age of the insured is determined.

(1) This section shall not apply to policies issued on or after the operative date of § 23-81-213(d) as defined therein. Except as provided in subsection (c) of this section, the adjusted premiums for any policy shall be calculated on an annual basis and shall be the uniform percentage of the respective premiums specified in the policy for each policy year, excluding amounts stated in the policy as extra premiums to cover impairments or special hazards, that the present value, at the date of issue of the policy of all adjusted premiums shall be equal to the sum of: (A) The then-present value of the future guaranteed benefits provided for by the policy; (B) Two percent (2%) of the amount of insurance, if the insurance is uniform in amount, or of the equivalent uniform amount, as hereinafter defined, if the amount of insurance varies with duration of the policy; (C) Forty percent (40%) of the adjusted premium for the first policy year; and (D) Twenty-five percent (25%) of either the adjusted premium for the first policy year or the adjusted premium for a whole life policy of the same uniform or equivalent uniform amount with uniform premiums for the whole of life issued at the same age for the same amount of insurance, whichever is less.

(A) The then-present value of the future guaranteed benefits provided for by the policy;

(B) Two percent (2%) of the amount of insurance, if the insurance is uniform in amount, or of the equivalent uniform amount, as hereinafter defined, if the amount of insurance varies with duration of the policy;

(C) Forty percent (40%) of the adjusted premium for the first policy year; and

(D) Twenty-five percent (25%) of either the adjusted premium for the first policy year or the adjusted premium for a whole life policy of the same uniform or equivalent uniform amount with uniform premiums for the whole of life issued at the same age for the same amount of insurance, whichever is less.

(2) However, in applying the percentages specified in subdivisions (a)(1)(C) and (D) of this section, no adjusted premium shall be deemed to exceed four percent (4%) of the amount of insurance or level amount equivalent thereto.

(3) The date of issue of a policy for the purpose of this subchapter shall be the date as of which the rated age of the insured is determined.

(b) (1) In the case of a policy providing an amount of insurance varying with duration of the policy, the equivalent level amount thereof for the purpose of this subchapter shall be deemed to be the level amount of insurance provided by an otherwise similar policy, containing the same endowment benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the inception of the insurance as the benefits under the policy. (2) However, in the case of a policy providing an amount of insurance varying with the duration of the policy, the equivalent uniform amount thereof for the purpose of subsection (a) of this section shall be deemed to be the uniform amount of insurance provided by an otherwise similar policy, containing the same endowment benefit or benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the date of issue as the benefits under the policy. (3) However, in the case of a policy for a varying amount of insurance issued on the life of a child under ten (10) years of age, the equivalent uniform amount may be computed as though the amount of insurance provided by the policy prior to the attainment of ten (10) years of age was the amount provided by the policy at ten (10) years of age.

(1) In the case of a policy providing an amount of insurance varying with duration of the policy, the equivalent level amount thereof for the purpose of this subchapter shall be deemed to be the level amount of insurance provided by an otherwise similar policy, containing the same endowment benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the inception of the insurance as the benefits under the policy.

(2) However, in the case of a policy providing an amount of insurance varying with the duration of the policy, the equivalent uniform amount thereof for the purpose of subsection (a) of this section shall be deemed to be the uniform amount of insurance provided by an otherwise similar policy, containing the same endowment benefit or benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the date of issue as the benefits under the policy.

(3) However, in the case of a policy for a varying amount of insurance issued on the life of a child under ten (10) years of age, the equivalent uniform amount may be computed as though the amount of insurance provided by the policy prior to the attainment of ten (10) years of age was the amount provided by the policy at ten (10) years of age.

(c) (1) The adjusted premiums for any policy providing term insurance benefits by rider or supplemental policy provision shall be equal to: (A) The adjusted premiums for an otherwise similar policy issued at the same age without the term insurance benefits, increased, during the period for which premiums for the term insurance benefits, are payable; by (B) The adjusted premiums for the term insurance. (2) Subdivisions (c)(1)(A) and (B) of this section shall be calculated separately and as specified in subsections (a) and (b) of this section except that, for the purposes of subdivisions (a)(1)(B)-(D) of this section, the amount of insurance or equivalent uniform amount of insurance used in the calculation of the adjusted premiums referred to in subdivision (c)(1)(B) of this section shall be equal to the excess of the corresponding amount determined for the entire policy over the amount used in the calculation of the adjusted premiums in subdivision (c)(1)(A) of this section.

(1) The adjusted premiums for any policy providing term insurance benefits by rider or supplemental policy provision shall be equal to: (A) The adjusted premiums for an otherwise similar policy issued at the same age without the term insurance benefits, increased, during the period for which premiums for the term insurance benefits, are payable; by (B) The adjusted premiums for the term insurance.

(A) The adjusted premiums for an otherwise similar policy issued at the same age without the term insurance benefits, increased, during the period for which premiums for the term insurance benefits, are payable; by

(B) The adjusted premiums for the term insurance.

(2) Subdivisions (c)(1)(A) and (B) of this section shall be calculated separately and as specified in subsections (a) and (b) of this section except that, for the purposes of subdivisions (a)(1)(B)-(D) of this section, the amount of insurance or equivalent uniform amount of insurance used in the calculation of the adjusted premiums referred to in subdivision (c)(1)(B) of this section shall be equal to the excess of the corresponding amount determined for the entire policy over the amount used in the calculation of the adjusted premiums in subdivision (c)(1)(A) of this section.

(d) (1) Except as otherwise provided in §§ 23-81-207 and 23-81-208 , all adjusted premiums and present values referred to in this subchapter shall for all policies of ordinary insurance be calculated on the basis of the Insurance Commissioner's 1941 Standard Ordinary Mortality Table, provided that for any category of ordinary insurance issued on female risks, adjusted premiums and present values may be calculated according to an age not more than three (3) years younger than the actual age of the insured, and the calculations for all policies of industrial insurance shall be made on the basis of the 1941 Standard Industrial Mortality Table. All calculations shall be made on the basis of the rate of interest, not exceeding three and one-half percent (3.5%) per annum, specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits. (2) However, in calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than one hundred thirty percent (130%) of the rates of mortality according to the applicable table. (3) Further, for insurance issued on a substandard basis, the calculation of any adjusted premiums and present values may be based on another table of mortality as may be specified by the insurer and approved by the commissioner.

(1) Except as otherwise provided in §§ 23-81-207 and 23-81-208 , all adjusted premiums and present values referred to in this subchapter shall for all policies of ordinary insurance be calculated on the basis of the Insurance Commissioner's 1941 Standard Ordinary Mortality Table, provided that for any category of ordinary insurance issued on female risks, adjusted premiums and present values may be calculated according to an age not more than three (3) years younger than the actual age of the insured, and the calculations for all policies of industrial insurance shall be made on the basis of the 1941 Standard Industrial Mortality Table. All calculations shall be made on the basis of the rate of interest, not exceeding three and one-half percent (3.5%) per annum, specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits.

(2) However, in calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than one hundred thirty percent (130%) of the rates of mortality according to the applicable table.

(3) Further, for insurance issued on a substandard basis, the calculation of any adjusted premiums and present values may be based on another table of mortality as may be specified by the insurer and approved by the commissioner.

Acts 1959, No. 148, § 336; 1961, No. 466, §§ 3-5; 1965, No. 439, § 2; 1981, No. 535, § 2; A.S.A. 1947, § 66-3327.
Ark. Code Ann. § 23-67-201 — AR Code / Title 23 / Chapter 67 / Subchapter 2 / Section 23-67-201
Purpose
Status: in_force

(a) This chapter shall be liberally construed to achieve the purposes stated in subsection (b) of this section, which shall constitute an aid and guide to interpretation but not an independent source of power. (b) The purposes of this chapter are to: (1) Promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory; (2) Prohibit price-fixing agreements and other anticompetitive behavior by insurers; (3) Promote price competition among insurers so as to provide rates that are responsive to competitive market conditions; (4) Provide regulatory controls in the absence of competition; (5) Improve availability, fairness, and reliability of insurance; (6) Authorize essential cooperative action among insurers in the ratemaking process and to regulate that activity to prevent practices that tend to lessen substantially competition or to create a monopoly; (7) Encourage the most efficient and economic marketing practices; and (8) Require the providing of price and other information to enable consumers to purchase insurance suitable for their needs and to foster competitive insurance markets. Acts 1987, No. 959, § 2.

(a) This chapter shall be liberally construed to achieve the purposes stated in subsection (b) of this section, which shall constitute an aid and guide to interpretation but not an independent source of power.

(b) The purposes of this chapter are to: (1) Promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory; (2) Prohibit price-fixing agreements and other anticompetitive behavior by insurers; (3) Promote price competition among insurers so as to provide rates that are responsive to competitive market conditions; (4) Provide regulatory controls in the absence of competition; (5) Improve availability, fairness, and reliability of insurance; (6) Authorize essential cooperative action among insurers in the ratemaking process and to regulate that activity to prevent practices that tend to lessen substantially competition or to create a monopoly; (7) Encourage the most efficient and economic marketing practices; and (8) Require the providing of price and other information to enable consumers to purchase insurance suitable for their needs and to foster competitive insurance markets.

(1) Promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory;

(2) Prohibit price-fixing agreements and other anticompetitive behavior by insurers;

(3) Promote price competition among insurers so as to provide rates that are responsive to competitive market conditions;

(4) Provide regulatory controls in the absence of competition;

(5) Improve availability, fairness, and reliability of insurance;

(6) Authorize essential cooperative action among insurers in the ratemaking process and to regulate that activity to prevent practices that tend to lessen substantially competition or to create a monopoly;

(7) Encourage the most efficient and economic marketing practices; and

(8) Require the providing of price and other information to enable consumers to purchase insurance suitable for their needs and to foster competitive insurance markets.

Acts 1987, No. 959, § 2.
Ark. Code Ann. § 23-17-411 — AR Code / Title 23 / Chapter 17 / Subchapter 4 / Section 23-17-411
Regulatory reform
Status: in_force

(a) Regarding the earnings, rates of return, or rate-base calculation of any electing company, any incumbent local exchange carrier that has filed notice in accordance with § 23-17-412 , or any competing local exchange carrier, and provided that all such companies and carriers otherwise comply with the applicable ratemaking provisions of this subchapter, the Arkansas Public Service Commission shall not: (1) Require the filing of any financial report, statement, or other document for the purpose of reviewing, monitoring, or regulating rate base, earnings, or rates of return; or (2) Conduct any investigation of rate base, earnings, or rates of return. (b) Notwithstanding the provisions of this subchapter, a rate group reclassification of an exchange from one (1) rate group to another occurring as a result of access line growth or loss of exchange access arrangements shall be allowed by the commission on request of a local exchange carrier. (c) Consistent with the policy of telecommunications competition that is implemented with this subchapter, other than the commission's promulgation of rules required by this subchapter, the commission shall promulgate no new rule that increases regulatory burdens on telecommunications service providers, except upon a showing that the benefits of such rule are clear and demonstrable and substantially exceed the cost of compliance by the affected telecommunications service providers. (d) Not later than one hundred eighty (180) days after February 4, 1997, the commission shall conduct a rulemaking proceeding to identify and repeal all rules relating to the provision of telecommunications service which are inconsistent with, have been rendered unnecessary by, or have been superseded by either this subchapter or the federal act. (e) Not later than one hundred eighty (180) days after February 4, 1997, the commission shall revise its rules so that they apply, except as expressly provided in this subchapter, equally to all providers of basic local exchange service. All future rule changes promulgated by the commission shall apply equally to all providers of basic local exchange service. (f) (1) In order to eliminate outdated, unnecessary, and burdensome laws and rules, electing companies, incumbent local exchange carriers filing notice under § 23-17-412 , and competing local exchange carriers shall not be subject to the requirements of §§ 23-2-304(a)(1), (7), and (8) , 23-2-306 , 23-2-307 , 23-3-101 - 23-3-107 , 23-3-112 , 23-3-114 , 23-3-118 , 23-3-119(a)(2) , 23-3-201 , 23-3-206 , 23-3-301 - 23-3-316 , 23-4-101 - 23-4-104 , 23-4-107 , 23-4-109 , 23-4-110 , 23-4-201(d) , 23-4-401 - 23-4-405 , 23-4-407 - 23-4-419 , and 23-17-113 , or the commission's rules implementing the statutes. (2) Notwithstanding any other provisions of law, the commission shall have no jurisdiction to impose any quality of service rules and standards or reporting, including without limitation the commission's telecommunications providers rules, on any telecommunications provider in any exchange in which an electing company is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) . (3) If an electing company that is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) , a competing local exchange carrier, or an interexchange carrier posts on a publicly accessible website its generally available prices and terms of service for telecommunications services, the electing company, competing local exchange carrier, or interexchange carrier is not required to file or maintain with the commission any tariff or price list setting forth the rates, rentals, charges, privileges, facilities, rules, regulations, or forms of contract for telecommunications services. (4) An electing company that is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) may elect to be exempt from any requirement to offer a calling plan under § 23-17-120 . (g) (1) Except as provided in this subchapter with respect to universal services, the commission does not have jurisdiction to regulate: (A) Commercial mobile services or commercial mobile service providers; (B) Voice over Internet Protocol services; or (C) Voice over Internet Protocol providers. (2) This subsection does not apply to: (A) The provisions of this subchapter concerning universal services; (B) An entity's obligations under sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq.; or (C) A right granted to an entity by sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq. (h) The commission shall establish reasonable cost proxies, which rural telephone companies, excluding tier one companies, may use without producing company-specific cost studies, when cost studies would otherwise be required. Use of these proxies or the adoption of approved rates of non-rural telephone companies by rural telephone companies, excluding tier one companies, shall be deemed adequate proof of such rural telephone company costs. (i) The commission may reclassify an incumbent local exchange carrier as a tier one company or a non-tier-one company only upon petition by the incumbent local exchange carrier in connection with an increase or decrease in the number of the carrier's access lines in the state. (j) (1) The unauthorized change of a customer's service to another telecommunications service provider is prohibited. (2) To protect customers from any unauthorized changes in their choice of telecommunications service providers, no local exchange carrier shall honor a request by any person other than the customer to change the provider of intrastate long distance or local exchange service to the customer in the state, except: (A) Where the request is placed by a local or long distance company that has provided to the local exchange carrier a letter of agency containing clear and conspicuous disclosure of the change signed by the customer authorizing the change; (B) Where the customer affected by the change calls a toll-free number established by the company requesting the change to confirm the request for the change made in response to a contact initiated by the local exchange or long distance company requesting the change; or (C) Where the commission otherwise expressly authorizes. (3) Any telecommunications carrier that violates the verification procedures described in this subsection and collects charges for telecommunications services from the customer shall be liable to the carrier previously selected by the customer in an amount equal to all charges paid by the subscriber after the violation in accordance with the procedures that the commission may prescribe. (4) The commission is also authorized to impose civil penalties, not to exceed five thousand dollars ($5,000) for any such violation. Amended by Act 2019, No. 315,§ 2469, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2468, eff. 7/24/2019. Amended by Act 2013, No. 1098,§ 2, eff. 8/16/2013. Amended by Act 2013, No. 1098,§ 1, eff. 8/16/2013. Amended by Act 2013, No. 442,§ 22, eff. 3/19/2013. Amended by Act 2013, No. 442,§ 21, eff. 3/19/2013. Amended by Act 2013, No. 442,§ 20, eff. 3/19/2013. Acts 1997, No. 77, § 11; 2011, No. 594, § 3.

(a) Regarding the earnings, rates of return, or rate-base calculation of any electing company, any incumbent local exchange carrier that has filed notice in accordance with § 23-17-412 , or any competing local exchange carrier, and provided that all such companies and carriers otherwise comply with the applicable ratemaking provisions of this subchapter, the Arkansas Public Service Commission shall not: (1) Require the filing of any financial report, statement, or other document for the purpose of reviewing, monitoring, or regulating rate base, earnings, or rates of return; or (2) Conduct any investigation of rate base, earnings, or rates of return.

(1) Require the filing of any financial report, statement, or other document for the purpose of reviewing, monitoring, or regulating rate base, earnings, or rates of return; or

(2) Conduct any investigation of rate base, earnings, or rates of return.

(b) Notwithstanding the provisions of this subchapter, a rate group reclassification of an exchange from one (1) rate group to another occurring as a result of access line growth or loss of exchange access arrangements shall be allowed by the commission on request of a local exchange carrier.

(c) Consistent with the policy of telecommunications competition that is implemented with this subchapter, other than the commission's promulgation of rules required by this subchapter, the commission shall promulgate no new rule that increases regulatory burdens on telecommunications service providers, except upon a showing that the benefits of such rule are clear and demonstrable and substantially exceed the cost of compliance by the affected telecommunications service providers.

(d) Not later than one hundred eighty (180) days after February 4, 1997, the commission shall conduct a rulemaking proceeding to identify and repeal all rules relating to the provision of telecommunications service which are inconsistent with, have been rendered unnecessary by, or have been superseded by either this subchapter or the federal act.

(e) Not later than one hundred eighty (180) days after February 4, 1997, the commission shall revise its rules so that they apply, except as expressly provided in this subchapter, equally to all providers of basic local exchange service. All future rule changes promulgated by the commission shall apply equally to all providers of basic local exchange service.

(f) (1) In order to eliminate outdated, unnecessary, and burdensome laws and rules, electing companies, incumbent local exchange carriers filing notice under § 23-17-412 , and competing local exchange carriers shall not be subject to the requirements of §§ 23-2-304(a)(1), (7), and (8) , 23-2-306 , 23-2-307 , 23-3-101 - 23-3-107 , 23-3-112 , 23-3-114 , 23-3-118 , 23-3-119(a)(2) , 23-3-201 , 23-3-206 , 23-3-301 - 23-3-316 , 23-4-101 - 23-4-104 , 23-4-107 , 23-4-109 , 23-4-110 , 23-4-201(d) , 23-4-401 - 23-4-405 , 23-4-407 - 23-4-419 , and 23-17-113 , or the commission's rules implementing the statutes. (2) Notwithstanding any other provisions of law, the commission shall have no jurisdiction to impose any quality of service rules and standards or reporting, including without limitation the commission's telecommunications providers rules, on any telecommunications provider in any exchange in which an electing company is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) . (3) If an electing company that is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) , a competing local exchange carrier, or an interexchange carrier posts on a publicly accessible website its generally available prices and terms of service for telecommunications services, the electing company, competing local exchange carrier, or interexchange carrier is not required to file or maintain with the commission any tariff or price list setting forth the rates, rentals, charges, privileges, facilities, rules, regulations, or forms of contract for telecommunications services. (4) An electing company that is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) may elect to be exempt from any requirement to offer a calling plan under § 23-17-120 .

(1) In order to eliminate outdated, unnecessary, and burdensome laws and rules, electing companies, incumbent local exchange carriers filing notice under § 23-17-412 , and competing local exchange carriers shall not be subject to the requirements of §§ 23-2-304(a)(1), (7), and (8) , 23-2-306 , 23-2-307 , 23-3-101 - 23-3-107 , 23-3-112 , 23-3-114 , 23-3-118 , 23-3-119(a)(2) , 23-3-201 , 23-3-206 , 23-3-301 - 23-3-316 , 23-4-101 - 23-4-104 , 23-4-107 , 23-4-109 , 23-4-110 , 23-4-201(d) , 23-4-401 - 23-4-405 , 23-4-407 - 23-4-419 , and 23-17-113 , or the commission's rules implementing the statutes.

(2) Notwithstanding any other provisions of law, the commission shall have no jurisdiction to impose any quality of service rules and standards or reporting, including without limitation the commission's telecommunications providers rules, on any telecommunications provider in any exchange in which an electing company is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) .

(3) If an electing company that is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) , a competing local exchange carrier, or an interexchange carrier posts on a publicly accessible website its generally available prices and terms of service for telecommunications services, the electing company, competing local exchange carrier, or interexchange carrier is not required to file or maintain with the commission any tariff or price list setting forth the rates, rentals, charges, privileges, facilities, rules, regulations, or forms of contract for telecommunications services.

(4) An electing company that is authorized under § 23-17-407(d) to determine the rates for basic local exchange service and switched-access services under § 23-17-408(c) may elect to be exempt from any requirement to offer a calling plan under § 23-17-120 .

(g) (1) Except as provided in this subchapter with respect to universal services, the commission does not have jurisdiction to regulate: (A) Commercial mobile services or commercial mobile service providers; (B) Voice over Internet Protocol services; or (C) Voice over Internet Protocol providers. (2) This subsection does not apply to: (A) The provisions of this subchapter concerning universal services; (B) An entity's obligations under sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq.; or (C) A right granted to an entity by sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq.

(1) Except as provided in this subchapter with respect to universal services, the commission does not have jurisdiction to regulate: (A) Commercial mobile services or commercial mobile service providers; (B) Voice over Internet Protocol services; or (C) Voice over Internet Protocol providers.

(A) Commercial mobile services or commercial mobile service providers;

(B) Voice over Internet Protocol services; or

(C) Voice over Internet Protocol providers.

(2) This subsection does not apply to: (A) The provisions of this subchapter concerning universal services; (B) An entity's obligations under sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq.; or (C) A right granted to an entity by sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq.

(A) The provisions of this subchapter concerning universal services;

(B) An entity's obligations under sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq.; or

(C) A right granted to an entity by sections 251 and 252 of the Communications Act of 1934, 47 U.S.C. § 151 et seq.

(h) The commission shall establish reasonable cost proxies, which rural telephone companies, excluding tier one companies, may use without producing company-specific cost studies, when cost studies would otherwise be required. Use of these proxies or the adoption of approved rates of non-rural telephone companies by rural telephone companies, excluding tier one companies, shall be deemed adequate proof of such rural telephone company costs.

(i) The commission may reclassify an incumbent local exchange carrier as a tier one company or a non-tier-one company only upon petition by the incumbent local exchange carrier in connection with an increase or decrease in the number of the carrier's access lines in the state.

(j) (1) The unauthorized change of a customer's service to another telecommunications service provider is prohibited. (2) To protect customers from any unauthorized changes in their choice of telecommunications service providers, no local exchange carrier shall honor a request by any person other than the customer to change the provider of intrastate long distance or local exchange service to the customer in the state, except: (A) Where the request is placed by a local or long distance company that has provided to the local exchange carrier a letter of agency containing clear and conspicuous disclosure of the change signed by the customer authorizing the change; (B) Where the customer affected by the change calls a toll-free number established by the company requesting the change to confirm the request for the change made in response to a contact initiated by the local exchange or long distance company requesting the change; or (C) Where the commission otherwise expressly authorizes. (3) Any telecommunications carrier that violates the verification procedures described in this subsection and collects charges for telecommunications services from the customer shall be liable to the carrier previously selected by the customer in an amount equal to all charges paid by the subscriber after the violation in accordance with the procedures that the commission may prescribe. (4) The commission is also authorized to impose civil penalties, not to exceed five thousand dollars ($5,000) for any such violation.

(1) The unauthorized change of a customer's service to another telecommunications service provider is prohibited.

(2) To protect customers from any unauthorized changes in their choice of telecommunications service providers, no local exchange carrier shall honor a request by any person other than the customer to change the provider of intrastate long distance or local exchange service to the customer in the state, except: (A) Where the request is placed by a local or long distance company that has provided to the local exchange carrier a letter of agency containing clear and conspicuous disclosure of the change signed by the customer authorizing the change; (B) Where the customer affected by the change calls a toll-free number established by the company requesting the change to confirm the request for the change made in response to a contact initiated by the local exchange or long distance company requesting the change; or (C) Where the commission otherwise expressly authorizes.

(A) Where the request is placed by a local or long distance company that has provided to the local exchange carrier a letter of agency containing clear and conspicuous disclosure of the change signed by the customer authorizing the change;

(B) Where the customer affected by the change calls a toll-free number established by the company requesting the change to confirm the request for the change made in response to a contact initiated by the local exchange or long distance company requesting the change; or

(C) Where the commission otherwise expressly authorizes.

(3) Any telecommunications carrier that violates the verification procedures described in this subsection and collects charges for telecommunications services from the customer shall be liable to the carrier previously selected by the customer in an amount equal to all charges paid by the subscriber after the violation in accordance with the procedures that the commission may prescribe.

(4) The commission is also authorized to impose civil penalties, not to exceed five thousand dollars ($5,000) for any such violation.

Amended by Act 2019, No. 315,§ 2469, eff. 7/24/2019.

Amended by Act 2019, No. 315,§ 2468, eff. 7/24/2019.

Amended by Act 2013, No. 1098,§ 2, eff. 8/16/2013.

Amended by Act 2013, No. 1098,§ 1, eff. 8/16/2013.

Amended by Act 2013, No. 442,§ 22, eff. 3/19/2013.

Amended by Act 2013, No. 442,§ 21, eff. 3/19/2013.

Amended by Act 2013, No. 442,§ 20, eff. 3/19/2013.

Acts 1997, No. 77, § 11; 2011, No. 594, § 3.
Ark. Code Ann. § 23-42-403 — AR Code / Title 23 / Chapter 42 / Subchapter 4 / Section 23-42-403
Registration by qualification
Status: in_force

(a) Any security may be registered by qualification. (b) A registration statement under this section shall contain the following information and be accompanied by the following documents in addition to the information specified in § 23-42-404(c) , and the consent to service of process required by § 23-42-107 : (1) With respect to the issuer and any significant subsidiary: (A) Its name, address, and form of organization; (B) The state or foreign jurisdiction and date of its organization; (C) The general character and location of its business; (D) A description of its physical properties and equipment; and (E) A statement of the general competitive conditions in the industry or business in which it is or will be engaged; (2) With respect to every director and officer of the issuer, or person occupying a similar status or performing similar functions: (A) His or her name, address, and principal occupation for the past five (5) years; (B) The amount of securities of the issuer held by him or her as of a specified date within thirty (30) days of the filing of the registration statement; (C) The amount of the securities covered by the registration statement to which he or she has indicated his or her intention to subscribe; and (D) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected; (3) With respect to persons covered by subdivision (b)(2) of this section, the remuneration paid during the past twelve (12) months and estimated to be paid during the next twelve (12) months, directly or indirectly, by the issuer, together with all predecessors, parents, subsidiaries, and affiliates, to all those persons in the aggregate; (4) With respect to any person owning of record, or beneficially, if known, ten percent (10%) or more of the outstanding shares of any class of equity security of the issuer, the information specified in subdivision (b)(2) of this section, other than his or her occupation; (5) With respect to every promoter if the issuer was organized within the past three (3) years: (A) The information specified in subdivision (b)(2) of this section; (B) Any amount paid to him or her within that period or intended to be paid to him or her; and (C) The consideration for the payment; (6) With respect to any person on whose behalf any part of the offering is to be made in a nonissuer distribution: (A) His or her name and address; (B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement; (C) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected; (7) The capitalization and long-term debt, on both a current and a pro forma basis, of the issuer and any significant subsidiary, including a description of each security outstanding or being registered or otherwise offered, and a statement of the amount and kind of consideration, whether in the form of cash, physical assets, services, patents, goodwill, or anything else, for which the issuer or any subsidiary has issued any of its securities within the past two (2) years or is obligated to issue any of its securities; (8) (A) The kind and amount of securities to be offered; (B) The proposed offering price or the method by which it is to be computed; (C) Any variation therefrom at which any portion of the offering is to be made to any person or class of persons other than the underwriters, with a specification of the person or class; (D) The basis upon which the offering is to be made if otherwise than for cash; (E) The estimated aggregate underwriting and selling discounts or commissions and finders' fees, including, separately, cash, securities, contracts, or anything else of value to accrue to the underwriters or finders in connection with the offering, or, if the selling discounts or commissions are variable, the basis of determining them and their maximum and minimum amounts; (F) The estimated amounts of other selling expenses, including legal, engineering, and accounting charges; (G) The name and address of every underwriter and every recipient of a finder's fee; (H) A copy of any underwriting or selling-group agreement pursuant to which the distribution is to be made, or the proposed form of any such agreement whose terms have not yet been determined; and (I) A description of the plan of distribution of any securities which are to be offered otherwise than through an underwriter; (9) (A) The estimated cash proceeds to be received by the issuer from the offering; (B) The purposes for which the proceeds are to be used by the issuer; (C) The amount to be used for each purpose; (D) The order or priority in which the proceeds will be used for the purposes stated; (E) The amounts of any funds to be raised from other sources to achieve the purposes stated; (F) The sources of any such funds; and (G) If any part of the proceeds is to be used to acquire any property, including goodwill, otherwise than in the ordinary course of business, the names and addresses of the vendors, the purchase price, the names of any persons who have received commissions in connection with the acquisition, the amounts of those commissions, and any other expense in connection with the acquisition, including the cost of borrowing money to finance the acquisition; (10) A description of any stock options or other security options outstanding or to be created in connection with the offering, together with the amount of those options held or to be held by every person required to be named in subdivision (b)(2), subdivision (b)(4), subdivision (b)(5), subdivision (b)(6), or subdivision (b)(8) of this section and by any person who holds or will hold ten percent (10%) or more in the aggregate of those options; (11) The dates of, parties to, and general effect, concisely stated, of every management or other material contract made or to be made otherwise than in the ordinary course of business, if it is to be performed in whole or in part at or after the filing of the registration statement or was made within the past two (2) years, together with a copy of every such contract and with a description of any pending litigation or proceeding to which the issuer is a party and which materially affects its business or assets, including any such litigation or proceeding known to be contemplated by governmental authorities; (12) A copy of any prospectus, pamphlet, circular, form letter, advertisement, television, radio, or other sales literature intended as of the effective date to be used in connection with the offering; (13) (A) A specimen or copy of the security being registered; (B) A copy of the issuer's articles of incorporation and bylaws, or their substantial equivalents, as currently in effect; and (C) A copy of any indenture or other instrument covering the security to be registered; (14) A signed or conformed copy of an opinion of counsel as to the legality of the security being registered, with an English translation if it is in a foreign language, which shall state whether the security, when sold, will be legally issued, fully paid, and nonassessable, and, if a debt security, a binding obligation of the issuer; (15) The written consent of any accountant, engineer, appraiser, or other person whose profession gives authority to a statement made by him or her, if any such person is named as having prepared or certified a report or valuation, other than a public and official document or statement, which is used in connection with the registration statement; (16) (A) A balance sheet of the issuer as of a date within four (4) months prior to the filing of the registration statement; (B) A profit and loss statement and analysis of surplus for each of the three (3) fiscal years preceding the date of the balance sheet and for any period between the close of the last fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessors' existence if less than three (3) years; and (C) If any part of the proceeds of the offering is to be applied to the purchase of any business, the same financial statements which would be required if that business were the registrant; and (17) Such additional information as the Securities Commissioner requires by rule or order. (c) A registration statement under this section becomes effective when the commissioner so orders. (d) The commissioner may by rule or order require, as a condition of registration under this section, that a prospectus containing any designated part of the information specified in subsection (b) of this section be sent or given to each person to whom an offer is made concurrently with: (1) The first written offer made to him or her, otherwise than by means of a public advertisement, by or for the account of the issuer or any other person on whose behalf the offering is being made, or by any underwriter or broker-dealer who is offering part of an unsold allotment or subscription taken by him or her as a participant in the distribution; (2) The confirmation of any sale made by or for the account of any such person; (3) Payment pursuant to any such sale; or (4) Delivery of the security pursuant to any such sale, whichever first occurs. Acts 1959, No. 254, § 10; A.S.A. 1947, § 67-1244; Acts 1995, No. 845, § 22; 2011, No. 339, § 10.

(a) Any security may be registered by qualification.

(b) A registration statement under this section shall contain the following information and be accompanied by the following documents in addition to the information specified in § 23-42-404(c) , and the consent to service of process required by § 23-42-107 : (1) With respect to the issuer and any significant subsidiary: (A) Its name, address, and form of organization; (B) The state or foreign jurisdiction and date of its organization; (C) The general character and location of its business; (D) A description of its physical properties and equipment; and (E) A statement of the general competitive conditions in the industry or business in which it is or will be engaged; (2) With respect to every director and officer of the issuer, or person occupying a similar status or performing similar functions: (A) His or her name, address, and principal occupation for the past five (5) years; (B) The amount of securities of the issuer held by him or her as of a specified date within thirty (30) days of the filing of the registration statement; (C) The amount of the securities covered by the registration statement to which he or she has indicated his or her intention to subscribe; and (D) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected; (3) With respect to persons covered by subdivision (b)(2) of this section, the remuneration paid during the past twelve (12) months and estimated to be paid during the next twelve (12) months, directly or indirectly, by the issuer, together with all predecessors, parents, subsidiaries, and affiliates, to all those persons in the aggregate; (4) With respect to any person owning of record, or beneficially, if known, ten percent (10%) or more of the outstanding shares of any class of equity security of the issuer, the information specified in subdivision (b)(2) of this section, other than his or her occupation; (5) With respect to every promoter if the issuer was organized within the past three (3) years: (A) The information specified in subdivision (b)(2) of this section; (B) Any amount paid to him or her within that period or intended to be paid to him or her; and (C) The consideration for the payment; (6) With respect to any person on whose behalf any part of the offering is to be made in a nonissuer distribution: (A) His or her name and address; (B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement; (C) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected; (7) The capitalization and long-term debt, on both a current and a pro forma basis, of the issuer and any significant subsidiary, including a description of each security outstanding or being registered or otherwise offered, and a statement of the amount and kind of consideration, whether in the form of cash, physical assets, services, patents, goodwill, or anything else, for which the issuer or any subsidiary has issued any of its securities within the past two (2) years or is obligated to issue any of its securities; (8) (A) The kind and amount of securities to be offered; (B) The proposed offering price or the method by which it is to be computed; (C) Any variation therefrom at which any portion of the offering is to be made to any person or class of persons other than the underwriters, with a specification of the person or class; (D) The basis upon which the offering is to be made if otherwise than for cash; (E) The estimated aggregate underwriting and selling discounts or commissions and finders' fees, including, separately, cash, securities, contracts, or anything else of value to accrue to the underwriters or finders in connection with the offering, or, if the selling discounts or commissions are variable, the basis of determining them and their maximum and minimum amounts; (F) The estimated amounts of other selling expenses, including legal, engineering, and accounting charges; (G) The name and address of every underwriter and every recipient of a finder's fee; (H) A copy of any underwriting or selling-group agreement pursuant to which the distribution is to be made, or the proposed form of any such agreement whose terms have not yet been determined; and (I) A description of the plan of distribution of any securities which are to be offered otherwise than through an underwriter; (9) (A) The estimated cash proceeds to be received by the issuer from the offering; (B) The purposes for which the proceeds are to be used by the issuer; (C) The amount to be used for each purpose; (D) The order or priority in which the proceeds will be used for the purposes stated; (E) The amounts of any funds to be raised from other sources to achieve the purposes stated; (F) The sources of any such funds; and (G) If any part of the proceeds is to be used to acquire any property, including goodwill, otherwise than in the ordinary course of business, the names and addresses of the vendors, the purchase price, the names of any persons who have received commissions in connection with the acquisition, the amounts of those commissions, and any other expense in connection with the acquisition, including the cost of borrowing money to finance the acquisition; (10) A description of any stock options or other security options outstanding or to be created in connection with the offering, together with the amount of those options held or to be held by every person required to be named in subdivision (b)(2), subdivision (b)(4), subdivision (b)(5), subdivision (b)(6), or subdivision (b)(8) of this section and by any person who holds or will hold ten percent (10%) or more in the aggregate of those options; (11) The dates of, parties to, and general effect, concisely stated, of every management or other material contract made or to be made otherwise than in the ordinary course of business, if it is to be performed in whole or in part at or after the filing of the registration statement or was made within the past two (2) years, together with a copy of every such contract and with a description of any pending litigation or proceeding to which the issuer is a party and which materially affects its business or assets, including any such litigation or proceeding known to be contemplated by governmental authorities; (12) A copy of any prospectus, pamphlet, circular, form letter, advertisement, television, radio, or other sales literature intended as of the effective date to be used in connection with the offering; (13) (A) A specimen or copy of the security being registered; (B) A copy of the issuer's articles of incorporation and bylaws, or their substantial equivalents, as currently in effect; and (C) A copy of any indenture or other instrument covering the security to be registered; (14) A signed or conformed copy of an opinion of counsel as to the legality of the security being registered, with an English translation if it is in a foreign language, which shall state whether the security, when sold, will be legally issued, fully paid, and nonassessable, and, if a debt security, a binding obligation of the issuer; (15) The written consent of any accountant, engineer, appraiser, or other person whose profession gives authority to a statement made by him or her, if any such person is named as having prepared or certified a report or valuation, other than a public and official document or statement, which is used in connection with the registration statement; (16) (A) A balance sheet of the issuer as of a date within four (4) months prior to the filing of the registration statement; (B) A profit and loss statement and analysis of surplus for each of the three (3) fiscal years preceding the date of the balance sheet and for any period between the close of the last fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessors' existence if less than three (3) years; and (C) If any part of the proceeds of the offering is to be applied to the purchase of any business, the same financial statements which would be required if that business were the registrant; and (17) Such additional information as the Securities Commissioner requires by rule or order.

(1) With respect to the issuer and any significant subsidiary: (A) Its name, address, and form of organization; (B) The state or foreign jurisdiction and date of its organization; (C) The general character and location of its business; (D) A description of its physical properties and equipment; and (E) A statement of the general competitive conditions in the industry or business in which it is or will be engaged;

(A) Its name, address, and form of organization;

(B) The state or foreign jurisdiction and date of its organization;

(C) The general character and location of its business;

(D) A description of its physical properties and equipment; and

(E) A statement of the general competitive conditions in the industry or business in which it is or will be engaged;

(2) With respect to every director and officer of the issuer, or person occupying a similar status or performing similar functions: (A) His or her name, address, and principal occupation for the past five (5) years; (B) The amount of securities of the issuer held by him or her as of a specified date within thirty (30) days of the filing of the registration statement; (C) The amount of the securities covered by the registration statement to which he or she has indicated his or her intention to subscribe; and (D) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected;

(A) His or her name, address, and principal occupation for the past five (5) years;

(B) The amount of securities of the issuer held by him or her as of a specified date within thirty (30) days of the filing of the registration statement;

(C) The amount of the securities covered by the registration statement to which he or she has indicated his or her intention to subscribe; and

(D) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected;

(3) With respect to persons covered by subdivision (b)(2) of this section, the remuneration paid during the past twelve (12) months and estimated to be paid during the next twelve (12) months, directly or indirectly, by the issuer, together with all predecessors, parents, subsidiaries, and affiliates, to all those persons in the aggregate;

(4) With respect to any person owning of record, or beneficially, if known, ten percent (10%) or more of the outstanding shares of any class of equity security of the issuer, the information specified in subdivision (b)(2) of this section, other than his or her occupation;

(5) With respect to every promoter if the issuer was organized within the past three (3) years: (A) The information specified in subdivision (b)(2) of this section; (B) Any amount paid to him or her within that period or intended to be paid to him or her; and (C) The consideration for the payment;

(A) The information specified in subdivision (b)(2) of this section;

(B) Any amount paid to him or her within that period or intended to be paid to him or her; and

(C) The consideration for the payment;

(6) With respect to any person on whose behalf any part of the offering is to be made in a nonissuer distribution: (A) His or her name and address; (B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement; (C) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected;

(A) His or her name and address;

(B) The amount of securities of the issuer held by him or her as of the date of the filing of the registration statement;

(C) A description of any material interest in any material transaction with the issuer or any significant subsidiary effected within the past three (3) years or proposed to be effected;

(7) The capitalization and long-term debt, on both a current and a pro forma basis, of the issuer and any significant subsidiary, including a description of each security outstanding or being registered or otherwise offered, and a statement of the amount and kind of consideration, whether in the form of cash, physical assets, services, patents, goodwill, or anything else, for which the issuer or any subsidiary has issued any of its securities within the past two (2) years or is obligated to issue any of its securities;

(8) (A) The kind and amount of securities to be offered; (B) The proposed offering price or the method by which it is to be computed; (C) Any variation therefrom at which any portion of the offering is to be made to any person or class of persons other than the underwriters, with a specification of the person or class; (D) The basis upon which the offering is to be made if otherwise than for cash; (E) The estimated aggregate underwriting and selling discounts or commissions and finders' fees, including, separately, cash, securities, contracts, or anything else of value to accrue to the underwriters or finders in connection with the offering, or, if the selling discounts or commissions are variable, the basis of determining them and their maximum and minimum amounts; (F) The estimated amounts of other selling expenses, including legal, engineering, and accounting charges; (G) The name and address of every underwriter and every recipient of a finder's fee; (H) A copy of any underwriting or selling-group agreement pursuant to which the distribution is to be made, or the proposed form of any such agreement whose terms have not yet been determined; and (I) A description of the plan of distribution of any securities which are to be offered otherwise than through an underwriter;

(A) The kind and amount of securities to be offered;

(B) The proposed offering price or the method by which it is to be computed;

(C) Any variation therefrom at which any portion of the offering is to be made to any person or class of persons other than the underwriters, with a specification of the person or class;

(D) The basis upon which the offering is to be made if otherwise than for cash;

(E) The estimated aggregate underwriting and selling discounts or commissions and finders' fees, including, separately, cash, securities, contracts, or anything else of value to accrue to the underwriters or finders in connection with the offering, or, if the selling discounts or commissions are variable, the basis of determining them and their maximum and minimum amounts;

(F) The estimated amounts of other selling expenses, including legal, engineering, and accounting charges;

(G) The name and address of every underwriter and every recipient of a finder's fee;

(H) A copy of any underwriting or selling-group agreement pursuant to which the distribution is to be made, or the proposed form of any such agreement whose terms have not yet been determined; and

(I) A description of the plan of distribution of any securities which are to be offered otherwise than through an underwriter;

(9) (A) The estimated cash proceeds to be received by the issuer from the offering; (B) The purposes for which the proceeds are to be used by the issuer; (C) The amount to be used for each purpose; (D) The order or priority in which the proceeds will be used for the purposes stated; (E) The amounts of any funds to be raised from other sources to achieve the purposes stated; (F) The sources of any such funds; and (G) If any part of the proceeds is to be used to acquire any property, including goodwill, otherwise than in the ordinary course of business, the names and addresses of the vendors, the purchase price, the names of any persons who have received commissions in connection with the acquisition, the amounts of those commissions, and any other expense in connection with the acquisition, including the cost of borrowing money to finance the acquisition;

(A) The estimated cash proceeds to be received by the issuer from the offering;

(B) The purposes for which the proceeds are to be used by the issuer;

(C) The amount to be used for each purpose;

(D) The order or priority in which the proceeds will be used for the purposes stated;

(E) The amounts of any funds to be raised from other sources to achieve the purposes stated;

(F) The sources of any such funds; and

(G) If any part of the proceeds is to be used to acquire any property, including goodwill, otherwise than in the ordinary course of business, the names and addresses of the vendors, the purchase price, the names of any persons who have received commissions in connection with the acquisition, the amounts of those commissions, and any other expense in connection with the acquisition, including the cost of borrowing money to finance the acquisition;

(10) A description of any stock options or other security options outstanding or to be created in connection with the offering, together with the amount of those options held or to be held by every person required to be named in subdivision (b)(2), subdivision (b)(4), subdivision (b)(5), subdivision (b)(6), or subdivision (b)(8) of this section and by any person who holds or will hold ten percent (10%) or more in the aggregate of those options;

(11) The dates of, parties to, and general effect, concisely stated, of every management or other material contract made or to be made otherwise than in the ordinary course of business, if it is to be performed in whole or in part at or after the filing of the registration statement or was made within the past two (2) years, together with a copy of every such contract and with a description of any pending litigation or proceeding to which the issuer is a party and which materially affects its business or assets, including any such litigation or proceeding known to be contemplated by governmental authorities;

(12) A copy of any prospectus, pamphlet, circular, form letter, advertisement, television, radio, or other sales literature intended as of the effective date to be used in connection with the offering;

(13) (A) A specimen or copy of the security being registered; (B) A copy of the issuer's articles of incorporation and bylaws, or their substantial equivalents, as currently in effect; and (C) A copy of any indenture or other instrument covering the security to be registered;

(A) A specimen or copy of the security being registered;

(B) A copy of the issuer's articles of incorporation and bylaws, or their substantial equivalents, as currently in effect; and

(C) A copy of any indenture or other instrument covering the security to be registered;

(14) A signed or conformed copy of an opinion of counsel as to the legality of the security being registered, with an English translation if it is in a foreign language, which shall state whether the security, when sold, will be legally issued, fully paid, and nonassessable, and, if a debt security, a binding obligation of the issuer;

(15) The written consent of any accountant, engineer, appraiser, or other person whose profession gives authority to a statement made by him or her, if any such person is named as having prepared or certified a report or valuation, other than a public and official document or statement, which is used in connection with the registration statement;

(16) (A) A balance sheet of the issuer as of a date within four (4) months prior to the filing of the registration statement; (B) A profit and loss statement and analysis of surplus for each of the three (3) fiscal years preceding the date of the balance sheet and for any period between the close of the last fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessors' existence if less than three (3) years; and (C) If any part of the proceeds of the offering is to be applied to the purchase of any business, the same financial statements which would be required if that business were the registrant; and

(A) A balance sheet of the issuer as of a date within four (4) months prior to the filing of the registration statement;

(B) A profit and loss statement and analysis of surplus for each of the three (3) fiscal years preceding the date of the balance sheet and for any period between the close of the last fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessors' existence if less than three (3) years; and

(C) If any part of the proceeds of the offering is to be applied to the purchase of any business, the same financial statements which would be required if that business were the registrant; and

(17) Such additional information as the Securities Commissioner requires by rule or order.

(c) A registration statement under this section becomes effective when the commissioner so orders.

(d) The commissioner may by rule or order require, as a condition of registration under this section, that a prospectus containing any designated part of the information specified in subsection (b) of this section be sent or given to each person to whom an offer is made concurrently with: (1) The first written offer made to him or her, otherwise than by means of a public advertisement, by or for the account of the issuer or any other person on whose behalf the offering is being made, or by any underwriter or broker-dealer who is offering part of an unsold allotment or subscription taken by him or her as a participant in the distribution; (2) The confirmation of any sale made by or for the account of any such person; (3) Payment pursuant to any such sale; or (4) Delivery of the security pursuant to any such sale, whichever first occurs.

(1) The first written offer made to him or her, otherwise than by means of a public advertisement, by or for the account of the issuer or any other person on whose behalf the offering is being made, or by any underwriter or broker-dealer who is offering part of an unsold allotment or subscription taken by him or her as a participant in the distribution;

(2) The confirmation of any sale made by or for the account of any such person;

(3) Payment pursuant to any such sale; or

(4) Delivery of the security pursuant to any such sale, whichever first occurs.

Acts 1959, No. 254, § 10; A.S.A. 1947, § 67-1244; Acts 1995, No. 845, § 22; 2011, No. 339, § 10.
Ark. Code Ann. § 23-97-314 — AR Code / Title 23 / Chapter 97 / Subchapter 3 / Section 23-97-314
Delivery of policy and summary - Disclosures
Status: in_force

(a) If an application for a long-term care insurance contract or certificate is approved, the issuer shall deliver the contract or certificate of insurance to the applicant no later than thirty (30) days after the date of approval. (b) (1) At the time of the delivery of the policy, a policy summary shall be delivered for an individual life insurance policy that provides long-term care benefits within the policy or by rider. (2) In the case of direct response solicitations, the insurer shall deliver the policy summary upon the applicant's request or at the time of policy delivery, whichever first occurs. (3) The summary shall comply with all applicable requirements and include: (A) An explanation of how the long-term care benefit interacts with other components of the policy, including deductions from death benefits; (B) An illustration of the amount of benefits, the length of benefit, and the guaranteed lifetime benefits, if any, for each covered person; (C) Any exclusions, reductions, and limitations on long-term care benefits; and (D) A statement that any long-term care inflation protection option, if required by rules of the Insurance Commissioner, is not available under the policy. (4) If applicable to the policy type, the summary shall also include: (A) A disclosure of the effects of exercising other rights under the policy; (B) A disclosure of guarantees related to long-term care costs of insurance charges; and (C) Current and projected maximum lifetime benefits. Amended by Act 2019, No. 315,§ 2791, eff. 7/24/2019. Acts 2005, No. 1697, § 31.

(a) If an application for a long-term care insurance contract or certificate is approved, the issuer shall deliver the contract or certificate of insurance to the applicant no later than thirty (30) days after the date of approval.

(b) (1) At the time of the delivery of the policy, a policy summary shall be delivered for an individual life insurance policy that provides long-term care benefits within the policy or by rider. (2) In the case of direct response solicitations, the insurer shall deliver the policy summary upon the applicant's request or at the time of policy delivery, whichever first occurs. (3) The summary shall comply with all applicable requirements and include: (A) An explanation of how the long-term care benefit interacts with other components of the policy, including deductions from death benefits; (B) An illustration of the amount of benefits, the length of benefit, and the guaranteed lifetime benefits, if any, for each covered person; (C) Any exclusions, reductions, and limitations on long-term care benefits; and (D) A statement that any long-term care inflation protection option, if required by rules of the Insurance Commissioner, is not available under the policy. (4) If applicable to the policy type, the summary shall also include: (A) A disclosure of the effects of exercising other rights under the policy; (B) A disclosure of guarantees related to long-term care costs of insurance charges; and (C) Current and projected maximum lifetime benefits.

(1) At the time of the delivery of the policy, a policy summary shall be delivered for an individual life insurance policy that provides long-term care benefits within the policy or by rider.

(2) In the case of direct response solicitations, the insurer shall deliver the policy summary upon the applicant's request or at the time of policy delivery, whichever first occurs.

(3) The summary shall comply with all applicable requirements and include: (A) An explanation of how the long-term care benefit interacts with other components of the policy, including deductions from death benefits; (B) An illustration of the amount of benefits, the length of benefit, and the guaranteed lifetime benefits, if any, for each covered person; (C) Any exclusions, reductions, and limitations on long-term care benefits; and (D) A statement that any long-term care inflation protection option, if required by rules of the Insurance Commissioner, is not available under the policy.

(A) An explanation of how the long-term care benefit interacts with other components of the policy, including deductions from death benefits;

(B) An illustration of the amount of benefits, the length of benefit, and the guaranteed lifetime benefits, if any, for each covered person;

(C) Any exclusions, reductions, and limitations on long-term care benefits; and

(D) A statement that any long-term care inflation protection option, if required by rules of the Insurance Commissioner, is not available under the policy.

(4) If applicable to the policy type, the summary shall also include: (A) A disclosure of the effects of exercising other rights under the policy; (B) A disclosure of guarantees related to long-term care costs of insurance charges; and (C) Current and projected maximum lifetime benefits.

(A) A disclosure of the effects of exercising other rights under the policy;

(B) A disclosure of guarantees related to long-term care costs of insurance charges; and

(C) Current and projected maximum lifetime benefits.

Amended by Act 2019, No. 315,§ 2791, eff. 7/24/2019.

Acts 2005, No. 1697, § 31.
Ark. Code Ann. § 23-110-306 — AR Code / Title 23 / Chapter 110 / Subchapter 3 / Section 23-110-306
Subsequent referendum elections
Status: in_force

(a) After the elapse of not less than two (2) years next following the date of any election conducted pursuant to § 23-110-304 , upon petitions filed with it containing the signatures of qualified electors of the county of not less than fifteen percent (15%) of the total number voting in the election for county clerk of the county at the next preceding general election, together with a sum of money estimated by the county board of election commissioners as sufficient to pay all expenses of the election, the board shall call a special election in accordance with § 7-11-201 et seq. on the proposition of continuing horse racing in the county. (b) (1) The proposition printed on the ballot shall be "FOR Horse Racing" and "AGAINST Horse Racing". (2) By published notice, the board shall proclaim the results of the election and shall also certify the results to the commission. (3) All contests in relation to the results of the election shall be commenced within twenty (20) days next following the date of publication of notice as given pursuant to this subsection. (c) If a majority of the qualified electors of the county voting on the question shall disapprove the continuance of horse racing, the franchise held by the corporation shall, ipso facto, be null and void as of the final date on which a contest of the results of the election may be commenced or, in the event of contest, upon the date of final determination of the issue. Acts 1957, No. 46, § 14; A.S.A. 1947, § 84-2740; Acts 2005, No. 2145, § 60; 2007, No. 1049, § 82; 2009, No. 1480, § 100.

(a) After the elapse of not less than two (2) years next following the date of any election conducted pursuant to § 23-110-304 , upon petitions filed with it containing the signatures of qualified electors of the county of not less than fifteen percent (15%) of the total number voting in the election for county clerk of the county at the next preceding general election, together with a sum of money estimated by the county board of election commissioners as sufficient to pay all expenses of the election, the board shall call a special election in accordance with § 7-11-201 et seq. on the proposition of continuing horse racing in the county.

(b) (1) The proposition printed on the ballot shall be "FOR Horse Racing" and "AGAINST Horse Racing". (2) By published notice, the board shall proclaim the results of the election and shall also certify the results to the commission. (3) All contests in relation to the results of the election shall be commenced within twenty (20) days next following the date of publication of notice as given pursuant to this subsection.

(1) The proposition printed on the ballot shall be "FOR Horse Racing" and "AGAINST Horse Racing".

(2) By published notice, the board shall proclaim the results of the election and shall also certify the results to the commission.

(3) All contests in relation to the results of the election shall be commenced within twenty (20) days next following the date of publication of notice as given pursuant to this subsection.

(c) If a majority of the qualified electors of the county voting on the question shall disapprove the continuance of horse racing, the franchise held by the corporation shall, ipso facto, be null and void as of the final date on which a contest of the results of the election may be commenced or, in the event of contest, upon the date of final determination of the issue.

Acts 1957, No. 46, § 14; A.S.A. 1947, § 84-2740; Acts 2005, No. 2145, § 60; 2007, No. 1049, § 82; 2009, No. 1480, § 100.
Ark. Code Ann. § 23-110-204 — AR Code / Title 23 / Chapter 110 / Subchapter 2 / Section 23-110-204
Powers and duties
Status: in_force

(a) Subject to the limitations and conditions as provided in this chapter or other applicable law, the Arkansas Racing Commission shall have sole jurisdiction over the business and the sport of horse racing in this state where the racing is permitted for any stake, purse, or reward, and, in exercising its jurisdiction, but without necessarily being limited to the following enumeration, it shall be the function, power, and duty of the commission to: (1) Grant franchises to conduct horse races; (2) Approve dates for each racing meet and issue permits therefor; (3) Issue licenses to: (A) An apprentice jockey; (B) An assistant trainer; (C) An attendant; (D) A franchise holder's employee; (E) A horse owner; (F) A horse trainer; (G) A horseshoer; (H) A jockey agent; (I) A person riding horses on the grounds of the licensed racetrack, including an exercise rider, a jockey, and an outrider; (J) A stable employee or contractor, including a groom and a hotwalker; (K) A valet; (L) A veterinarian; (M) A veterinarian assistant; and (N) An authorized agent, a vendor, contractor, or other person employed or involved with the care of horses or the business of horse racing on the grounds of the licensed racetrack; (4) Establish by rule the license fees, not to exceed one hundred fifty dollars ($150) per applicant, for a license under subdivision (a)(3) of this section; (5) Collect and deposit into the State Treasury all fees for franchises and licenses for all taxes, other imposts, and all other moneys due the State of Arkansas in relation to horse racing; (6) Hear and determine all matters properly coming before the commission and grant rehearings thereon; and (7) Take such other action, not inconsistent with law, as it may deem necessary or desirable to supervise and regulate, and to effectively control in the public interest, horse racing in the State of Arkansas. (b) (1) The commission shall have full, complete, and sole power and authority to: (A) Impose fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission; (B) Issue orders; (C) Order the forfeiture of purse money won by a disqualified horse; (D) Prescribe conditions under which horse racing shall be conducted by a franchise holder; (E) Promulgate rules; (F) Redistribute forfeited purse money; and (G) Suspend or revoke licenses. (2) The authority granted to the commission under this subsection shall be exercised in a reasonable manner. (3) The holder of a franchise or a taxpayer may appeal an action of the commission to the Pulaski County Circuit Court. (c) (1) The commission shall have no right or power to determine who shall be officers or employees of any franchise holder. (2) (A) However, the commission may by rule require that all officers, employees, or agents of the franchise holder who are in charge of, or whose duties relate directly to, the running of races and the handling of any funds which may be wagered on any race are to be approved by the commission. (B) The commission may compel the discharge of any official, employee, or agent of the franchise holder who fails or refuses to comply with the rules or orders of the commission, or who, in the opinion of the commission, is guilty of fraud or dishonesty. (d) For the purpose of regulating its own procedure and carrying out its functions, powers, and duties, the commission shall have the authority from time to time to make, amend, and enforce all necessary or desirable rules not inconsistent with law. (e) (1) (A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a horse owner, horse trainer, jockey, or jockey agent. (B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks. (C) After completion of the statewide criminal and noncriminal background check, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check. (2) The applicant shall sign a release that authorizes the: (A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and (B) Release of the results of the statewide criminal and noncriminal background check and the national criminal history record check to the commission. (3) (A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check of the applicant shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission. (B) The commission may disclose any information under subdivision (e)(3)(A) of this section to the applicant or the applicant's duly authorized representative. (4) No statewide criminal and noncriminal background check or national criminal history record check shall be required of an applicant for certain classes of licenses that have been exempted from investigation by rules promulgated by the commission. (5) The commission shall promulgate rules to implement this subsection. Amended by Act 2017, No. 425,§ 2, eff. 8/1/2017. Amended by Act 2013, No. 350,§ 2, eff. 3/14/2013. Amended by Act 2013, No. 350,§ 1, eff. 3/14/2013. Acts 1957, No. 46, §§ 5, 8, 16; A.S.A. 1947, §§ 84-2731, 84-2734, 84-2742; Acts 1987, No. 440, § 1; 2007, No. 856, § 1.

(a) Subject to the limitations and conditions as provided in this chapter or other applicable law, the Arkansas Racing Commission shall have sole jurisdiction over the business and the sport of horse racing in this state where the racing is permitted for any stake, purse, or reward, and, in exercising its jurisdiction, but without necessarily being limited to the following enumeration, it shall be the function, power, and duty of the commission to: (1) Grant franchises to conduct horse races; (2) Approve dates for each racing meet and issue permits therefor; (3) Issue licenses to: (A) An apprentice jockey; (B) An assistant trainer; (C) An attendant; (D) A franchise holder's employee; (E) A horse owner; (F) A horse trainer; (G) A horseshoer; (H) A jockey agent; (I) A person riding horses on the grounds of the licensed racetrack, including an exercise rider, a jockey, and an outrider; (J) A stable employee or contractor, including a groom and a hotwalker; (K) A valet; (L) A veterinarian; (M) A veterinarian assistant; and (N) An authorized agent, a vendor, contractor, or other person employed or involved with the care of horses or the business of horse racing on the grounds of the licensed racetrack; (4) Establish by rule the license fees, not to exceed one hundred fifty dollars ($150) per applicant, for a license under subdivision (a)(3) of this section; (5) Collect and deposit into the State Treasury all fees for franchises and licenses for all taxes, other imposts, and all other moneys due the State of Arkansas in relation to horse racing; (6) Hear and determine all matters properly coming before the commission and grant rehearings thereon; and (7) Take such other action, not inconsistent with law, as it may deem necessary or desirable to supervise and regulate, and to effectively control in the public interest, horse racing in the State of Arkansas.

(1) Grant franchises to conduct horse races;

(2) Approve dates for each racing meet and issue permits therefor;

(3) Issue licenses to: (A) An apprentice jockey; (B) An assistant trainer; (C) An attendant; (D) A franchise holder's employee; (E) A horse owner; (F) A horse trainer; (G) A horseshoer; (H) A jockey agent; (I) A person riding horses on the grounds of the licensed racetrack, including an exercise rider, a jockey, and an outrider; (J) A stable employee or contractor, including a groom and a hotwalker; (K) A valet; (L) A veterinarian; (M) A veterinarian assistant; and (N) An authorized agent, a vendor, contractor, or other person employed or involved with the care of horses or the business of horse racing on the grounds of the licensed racetrack;

(A) An apprentice jockey;

(B) An assistant trainer;

(C) An attendant;

(D) A franchise holder's employee;

(E) A horse owner;

(F) A horse trainer;

(G) A horseshoer;

(H) A jockey agent;

(I) A person riding horses on the grounds of the licensed racetrack, including an exercise rider, a jockey, and an outrider;

(J) A stable employee or contractor, including a groom and a hotwalker;

(K) A valet;

(L) A veterinarian;

(M) A veterinarian assistant; and

(N) An authorized agent, a vendor, contractor, or other person employed or involved with the care of horses or the business of horse racing on the grounds of the licensed racetrack;

(4) Establish by rule the license fees, not to exceed one hundred fifty dollars ($150) per applicant, for a license under subdivision (a)(3) of this section;

(5) Collect and deposit into the State Treasury all fees for franchises and licenses for all taxes, other imposts, and all other moneys due the State of Arkansas in relation to horse racing;

(6) Hear and determine all matters properly coming before the commission and grant rehearings thereon; and

(7) Take such other action, not inconsistent with law, as it may deem necessary or desirable to supervise and regulate, and to effectively control in the public interest, horse racing in the State of Arkansas.

(b) (1) The commission shall have full, complete, and sole power and authority to: (A) Impose fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission; (B) Issue orders; (C) Order the forfeiture of purse money won by a disqualified horse; (D) Prescribe conditions under which horse racing shall be conducted by a franchise holder; (E) Promulgate rules; (F) Redistribute forfeited purse money; and (G) Suspend or revoke licenses. (2) The authority granted to the commission under this subsection shall be exercised in a reasonable manner. (3) The holder of a franchise or a taxpayer may appeal an action of the commission to the Pulaski County Circuit Court.

(1) The commission shall have full, complete, and sole power and authority to: (A) Impose fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission; (B) Issue orders; (C) Order the forfeiture of purse money won by a disqualified horse; (D) Prescribe conditions under which horse racing shall be conducted by a franchise holder; (E) Promulgate rules; (F) Redistribute forfeited purse money; and (G) Suspend or revoke licenses.

(A) Impose fines in an amount not to exceed one hundred thousand dollars ($100,000) per violation of a rule of the commission;

(B) Issue orders;

(C) Order the forfeiture of purse money won by a disqualified horse;

(D) Prescribe conditions under which horse racing shall be conducted by a franchise holder;

(E) Promulgate rules;

(F) Redistribute forfeited purse money; and

(G) Suspend or revoke licenses.

(2) The authority granted to the commission under this subsection shall be exercised in a reasonable manner.

(3) The holder of a franchise or a taxpayer may appeal an action of the commission to the Pulaski County Circuit Court.

(c) (1) The commission shall have no right or power to determine who shall be officers or employees of any franchise holder. (2) (A) However, the commission may by rule require that all officers, employees, or agents of the franchise holder who are in charge of, or whose duties relate directly to, the running of races and the handling of any funds which may be wagered on any race are to be approved by the commission. (B) The commission may compel the discharge of any official, employee, or agent of the franchise holder who fails or refuses to comply with the rules or orders of the commission, or who, in the opinion of the commission, is guilty of fraud or dishonesty.

(1) The commission shall have no right or power to determine who shall be officers or employees of any franchise holder.

(2) (A) However, the commission may by rule require that all officers, employees, or agents of the franchise holder who are in charge of, or whose duties relate directly to, the running of races and the handling of any funds which may be wagered on any race are to be approved by the commission. (B) The commission may compel the discharge of any official, employee, or agent of the franchise holder who fails or refuses to comply with the rules or orders of the commission, or who, in the opinion of the commission, is guilty of fraud or dishonesty.

(A) However, the commission may by rule require that all officers, employees, or agents of the franchise holder who are in charge of, or whose duties relate directly to, the running of races and the handling of any funds which may be wagered on any race are to be approved by the commission.

(B) The commission may compel the discharge of any official, employee, or agent of the franchise holder who fails or refuses to comply with the rules or orders of the commission, or who, in the opinion of the commission, is guilty of fraud or dishonesty.

(d) For the purpose of regulating its own procedure and carrying out its functions, powers, and duties, the commission shall have the authority from time to time to make, amend, and enforce all necessary or desirable rules not inconsistent with law.

(e) (1) (A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a horse owner, horse trainer, jockey, or jockey agent. (B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks. (C) After completion of the statewide criminal and noncriminal background check, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check. (2) The applicant shall sign a release that authorizes the: (A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and (B) Release of the results of the statewide criminal and noncriminal background check and the national criminal history record check to the commission. (3) (A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check of the applicant shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission. (B) The commission may disclose any information under subdivision (e)(3)(A) of this section to the applicant or the applicant's duly authorized representative. (4) No statewide criminal and noncriminal background check or national criminal history record check shall be required of an applicant for certain classes of licenses that have been exempted from investigation by rules promulgated by the commission. (5) The commission shall promulgate rules to implement this subsection.

(1) (A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a horse owner, horse trainer, jockey, or jockey agent. (B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks. (C) After completion of the statewide criminal and noncriminal background check, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check.

(A) The commission may require an applicant to be fingerprinted to determine the applicant's suitability to be issued a license as a horse owner, horse trainer, jockey, or jockey agent.

(B) If required by the commission, the fingerprints shall be forwarded by the commission to the Division of Arkansas State Police for statewide criminal and noncriminal background checks.

(C) After completion of the statewide criminal and noncriminal background check, the fingerprints shall be forwarded by the division to the Federal Bureau of Investigation for a national criminal history record check.

(2) The applicant shall sign a release that authorizes the: (A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and (B) Release of the results of the statewide criminal and noncriminal background check and the national criminal history record check to the commission.

(A) Division to forward the applicant's fingerprint card to the Federal Bureau of Investigation for a national criminal history record check; and

(B) Release of the results of the statewide criminal and noncriminal background check and the national criminal history record check to the commission.

(3) (A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check of the applicant shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission. (B) The commission may disclose any information under subdivision (e)(3)(A) of this section to the applicant or the applicant's duly authorized representative.

(A) Any information received by the commission from the statewide criminal and noncriminal background check and the national criminal history record check of the applicant shall be kept confidential and may be used by the commission only for the purpose of determining the applicant's suitability to be licensed by the commission.

(B) The commission may disclose any information under subdivision (e)(3)(A) of this section to the applicant or the applicant's duly authorized representative.

(4) No statewide criminal and noncriminal background check or national criminal history record check shall be required of an applicant for certain classes of licenses that have been exempted from investigation by rules promulgated by the commission.

(5) The commission shall promulgate rules to implement this subsection.

Amended by Act 2017, No. 425,§ 2, eff. 8/1/2017.

Amended by Act 2013, No. 350,§ 2, eff. 3/14/2013.

Amended by Act 2013, No. 350,§ 1, eff. 3/14/2013.

Acts 1957, No. 46, §§ 5, 8, 16; A.S.A. 1947, §§ 84-2731, 84-2734, 84-2742; Acts 1987, No. 440, § 1; 2007, No. 856, § 1.
Ark. Code Ann. § 23-74-101 — AR Code / Title 23 / Chapter 74 / Subchapter 1 / Section 23-74-101
Fraternal benefit society defined
Status: in_force

Any incorporated society, order, or supreme lodge, without capital stock, including one exempted under § 23-74-704(a)(2) , whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and which provides benefits in accordance with this chapter, is hereby declared to be a fraternal benefit society. Acts 1989, No. 881, § 1.

Any incorporated society, order, or supreme lodge, without capital stock, including one exempted under § 23-74-704(a)(2) , whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and which provides benefits in accordance with this chapter, is hereby declared to be a fraternal benefit society.

Acts 1989, No. 881, § 1.
Ark. Code Ann. § 23-79-156 — AR Code / Title 23 / Chapter 79 / Subchapter 1 / Section 23-79-156
Health insurance exchange - Coverage of abortions prohibited - Definitions - Findings
Status: in_force

(a) As used in this section: (1) "Abortion" means the use or prescription of any instrument, medicine, drug, or any other substance or device intentionally to terminate the pregnancy of a woman known to be pregnant with an intention other than to increase the probability of a live birth, to preserve the life or health of the child after live birth, or to remove a dead unborn child who died as the result of natural causes, accidental trauma, or a criminal assault on the pregnant woman or her unborn child; (2) "Elective abortion" means an abortion for any reason other than: (A) (i) To prevent the death of the mother upon whom the abortion is performed. (ii) However, an abortion shall not be deemed an elective abortion to prevent the death of the mother based on a claim or diagnosis that without the abortion the mother will engage in conduct that will result in her death; or (B) In a pregnancy resulting from rape or incest; and (3) "Qualified health plan" means a health plan that meets the requirements under 42 U.S.C. § 18021 , as it existed on January 1, 2013. (b) The General Assembly finds that: (1) Congress enacted and the President signed into law the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148; and (2) In the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148, states are explicitly permitted to pass laws prohibiting qualified health plans offered through a health insurance exchange in their state from offering abortion coverage. (c) (1) In accordance with the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148, a qualified health plan offered through a health insurance exchange established in this state shall not include elective abortion coverage. (2) This section does not prevent an individual from purchasing optional supplemental coverage for elective abortions for which a separate premium shall be paid in the health insurance market outside of the state health insurance exchange as provided in subsection (d) of this section. (d) An issuer of a health plan that offers optional supplemental abortion coverage offered in the health insurance market outside of the state health insurance exchange shall: (1) (A) Calculate the premium for optional supplemental abortion coverage so that the premium fully covers the estimated cost of an elective abortion for an individual who enrolls for elective abortion coverage. (B) (i) The insurer shall determine the premium required under subdivision (d)(1)(A) of this section on an average actuarial basis. (ii) (a) In making the calculation required under subdivision (d)(1)(B)(i) of this section, the issuer shall not take into account a cost reduction in a qualified health plan offered through a health insurance exchange established in this state estimated to result from the provision of abortion coverage that the insurer offers and that covers the individual who enrolls for elective abortion coverage. (b) As used in subdivision (d)(1)(B)(ii) (a) of this section, cost reduction estimated to result from provision of abortion coverage includes estimated cost reduction in prenatal care, delivery, and postnatal care; (2) Require that if an enrollee is enrolling in a health insurance plan that provides coverage other than optional supplemental abortion coverage, at the same time as the enrollee is enrolling, the enrollee shall sign at the same time three (3) separate signatures: (A) A signature for coverage for optional supplemental abortion coverage; (B) A signature for coverage other than for optional supplemental abortion coverage; and (C) A signature acknowledging that the enrollee has received the cost of the separate premium; and (3) (A) Provide at the time of enrollment a notice to enrollees that specifically states the cost of the separate premium for coverage of elective abortions. (B) The notice required under subdivision (d)(3)(A) of this section shall be distinct and apart from the notice of the cost of the premium for the portion of the health plan that provides coverage other than optional supplemental abortion coverage. (e) An issuer of a health plan providing coverage offered through a health insurance exchange established in this state that provides coverage other than elective abortion coverage shall not discount or reduce the premium for the coverage on the basis that an enrollee has elective abortion coverage. (f) This section does not apply in circumstances in which federal law preempts state health insurance regulation. Added by Act 2013, No. 72,§ 1, eff. 8/16/2013.

(a) As used in this section: (1) "Abortion" means the use or prescription of any instrument, medicine, drug, or any other substance or device intentionally to terminate the pregnancy of a woman known to be pregnant with an intention other than to increase the probability of a live birth, to preserve the life or health of the child after live birth, or to remove a dead unborn child who died as the result of natural causes, accidental trauma, or a criminal assault on the pregnant woman or her unborn child; (2) "Elective abortion" means an abortion for any reason other than: (A) (i) To prevent the death of the mother upon whom the abortion is performed. (ii) However, an abortion shall not be deemed an elective abortion to prevent the death of the mother based on a claim or diagnosis that without the abortion the mother will engage in conduct that will result in her death; or (B) In a pregnancy resulting from rape or incest; and (3) "Qualified health plan" means a health plan that meets the requirements under 42 U.S.C. § 18021 , as it existed on January 1, 2013.

(1) "Abortion" means the use or prescription of any instrument, medicine, drug, or any other substance or device intentionally to terminate the pregnancy of a woman known to be pregnant with an intention other than to increase the probability of a live birth, to preserve the life or health of the child after live birth, or to remove a dead unborn child who died as the result of natural causes, accidental trauma, or a criminal assault on the pregnant woman or her unborn child;

(2) "Elective abortion" means an abortion for any reason other than: (A) (i) To prevent the death of the mother upon whom the abortion is performed. (ii) However, an abortion shall not be deemed an elective abortion to prevent the death of the mother based on a claim or diagnosis that without the abortion the mother will engage in conduct that will result in her death; or (B) In a pregnancy resulting from rape or incest; and

(A) (i) To prevent the death of the mother upon whom the abortion is performed. (ii) However, an abortion shall not be deemed an elective abortion to prevent the death of the mother based on a claim or diagnosis that without the abortion the mother will engage in conduct that will result in her death; or

(i) To prevent the death of the mother upon whom the abortion is performed.

(ii) However, an abortion shall not be deemed an elective abortion to prevent the death of the mother based on a claim or diagnosis that without the abortion the mother will engage in conduct that will result in her death; or

(B) In a pregnancy resulting from rape or incest; and

(3) "Qualified health plan" means a health plan that meets the requirements under 42 U.S.C. § 18021 , as it existed on January 1, 2013.

(b) The General Assembly finds that: (1) Congress enacted and the President signed into law the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148; and (2) In the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148, states are explicitly permitted to pass laws prohibiting qualified health plans offered through a health insurance exchange in their state from offering abortion coverage.

(1) Congress enacted and the President signed into law the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148; and

(2) In the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148, states are explicitly permitted to pass laws prohibiting qualified health plans offered through a health insurance exchange in their state from offering abortion coverage.

(c) (1) In accordance with the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148, a qualified health plan offered through a health insurance exchange established in this state shall not include elective abortion coverage. (2) This section does not prevent an individual from purchasing optional supplemental coverage for elective abortions for which a separate premium shall be paid in the health insurance market outside of the state health insurance exchange as provided in subsection (d) of this section.

(1) In accordance with the Patient Protection and Affordable Care Act of 2010, Pub. L. No. 111-148, a qualified health plan offered through a health insurance exchange established in this state shall not include elective abortion coverage.

(2) This section does not prevent an individual from purchasing optional supplemental coverage for elective abortions for which a separate premium shall be paid in the health insurance market outside of the state health insurance exchange as provided in subsection (d) of this section.

(d) An issuer of a health plan that offers optional supplemental abortion coverage offered in the health insurance market outside of the state health insurance exchange shall: (1) (A) Calculate the premium for optional supplemental abortion coverage so that the premium fully covers the estimated cost of an elective abortion for an individual who enrolls for elective abortion coverage. (B) (i) The insurer shall determine the premium required under subdivision (d)(1)(A) of this section on an average actuarial basis. (ii) (a) In making the calculation required under subdivision (d)(1)(B)(i) of this section, the issuer shall not take into account a cost reduction in a qualified health plan offered through a health insurance exchange established in this state estimated to result from the provision of abortion coverage that the insurer offers and that covers the individual who enrolls for elective abortion coverage. (b) As used in subdivision (d)(1)(B)(ii) (a) of this section, cost reduction estimated to result from provision of abortion coverage includes estimated cost reduction in prenatal care, delivery, and postnatal care; (2) Require that if an enrollee is enrolling in a health insurance plan that provides coverage other than optional supplemental abortion coverage, at the same time as the enrollee is enrolling, the enrollee shall sign at the same time three (3) separate signatures: (A) A signature for coverage for optional supplemental abortion coverage; (B) A signature for coverage other than for optional supplemental abortion coverage; and (C) A signature acknowledging that the enrollee has received the cost of the separate premium; and (3) (A) Provide at the time of enrollment a notice to enrollees that specifically states the cost of the separate premium for coverage of elective abortions. (B) The notice required under subdivision (d)(3)(A) of this section shall be distinct and apart from the notice of the cost of the premium for the portion of the health plan that provides coverage other than optional supplemental abortion coverage.

(1) (A) Calculate the premium for optional supplemental abortion coverage so that the premium fully covers the estimated cost of an elective abortion for an individual who enrolls for elective abortion coverage. (B) (i) The insurer shall determine the premium required under subdivision (d)(1)(A) of this section on an average actuarial basis. (ii) (a) In making the calculation required under subdivision (d)(1)(B)(i) of this section, the issuer shall not take into account a cost reduction in a qualified health plan offered through a health insurance exchange established in this state estimated to result from the provision of abortion coverage that the insurer offers and that covers the individual who enrolls for elective abortion coverage. (b) As used in subdivision (d)(1)(B)(ii) (a) of this section, cost reduction estimated to result from provision of abortion coverage includes estimated cost reduction in prenatal care, delivery, and postnatal care;

(A) Calculate the premium for optional supplemental abortion coverage so that the premium fully covers the estimated cost of an elective abortion for an individual who enrolls for elective abortion coverage.

(B) (i) The insurer shall determine the premium required under subdivision (d)(1)(A) of this section on an average actuarial basis. (ii) (a) In making the calculation required under subdivision (d)(1)(B)(i) of this section, the issuer shall not take into account a cost reduction in a qualified health plan offered through a health insurance exchange established in this state estimated to result from the provision of abortion coverage that the insurer offers and that covers the individual who enrolls for elective abortion coverage. (b) As used in subdivision (d)(1)(B)(ii) (a) of this section, cost reduction estimated to result from provision of abortion coverage includes estimated cost reduction in prenatal care, delivery, and postnatal care;

(i) The insurer shall determine the premium required under subdivision (d)(1)(A) of this section on an average actuarial basis.

(ii) (a) In making the calculation required under subdivision (d)(1)(B)(i) of this section, the issuer shall not take into account a cost reduction in a qualified health plan offered through a health insurance exchange established in this state estimated to result from the provision of abortion coverage that the insurer offers and that covers the individual who enrolls for elective abortion coverage. (b) As used in subdivision (d)(1)(B)(ii) (a) of this section, cost reduction estimated to result from provision of abortion coverage includes estimated cost reduction in prenatal care, delivery, and postnatal care;

(a) In making the calculation required under subdivision (d)(1)(B)(i) of this section, the issuer shall not take into account a cost reduction in a qualified health plan offered through a health insurance exchange established in this state estimated to result from the provision of abortion coverage that the insurer offers and that covers the individual who enrolls for elective abortion coverage.

(b) As used in subdivision (d)(1)(B)(ii) (a) of this section, cost reduction estimated to result from provision of abortion coverage includes estimated cost reduction in prenatal care, delivery, and postnatal care;

(2) Require that if an enrollee is enrolling in a health insurance plan that provides coverage other than optional supplemental abortion coverage, at the same time as the enrollee is enrolling, the enrollee shall sign at the same time three (3) separate signatures: (A) A signature for coverage for optional supplemental abortion coverage; (B) A signature for coverage other than for optional supplemental abortion coverage; and (C) A signature acknowledging that the enrollee has received the cost of the separate premium; and

(A) A signature for coverage for optional supplemental abortion coverage;

(B) A signature for coverage other than for optional supplemental abortion coverage; and

(C) A signature acknowledging that the enrollee has received the cost of the separate premium; and

(3) (A) Provide at the time of enrollment a notice to enrollees that specifically states the cost of the separate premium for coverage of elective abortions. (B) The notice required under subdivision (d)(3)(A) of this section shall be distinct and apart from the notice of the cost of the premium for the portion of the health plan that provides coverage other than optional supplemental abortion coverage.

(A) Provide at the time of enrollment a notice to enrollees that specifically states the cost of the separate premium for coverage of elective abortions.

(B) The notice required under subdivision (d)(3)(A) of this section shall be distinct and apart from the notice of the cost of the premium for the portion of the health plan that provides coverage other than optional supplemental abortion coverage.

(e) An issuer of a health plan providing coverage offered through a health insurance exchange established in this state that provides coverage other than elective abortion coverage shall not discount or reduce the premium for the coverage on the basis that an enrollee has elective abortion coverage.

(f) This section does not apply in circumstances in which federal law preempts state health insurance regulation.

Added by Act 2013, No. 72,§ 1, eff. 8/16/2013.
Ark. Code Ann. § 23-63-905 — AR Code / Title 23 / Chapter 63 / Subchapter 9 / Section 23-63-905
Record - Liability of commissioner and state
Status: in_force

(a) The Insurance Commissioner shall keep a record of the securities and assets comprising each deposit and of all his or her transactions relative thereto, showing by item the amount and market value. (b) The commissioner and the State of Arkansas shall have no liability as to the safekeeping of any deposit by the depositary or custodian. Acts 1959, No. 148, § 136; A.S.A. 1947, § 66-2705.

(a) The Insurance Commissioner shall keep a record of the securities and assets comprising each deposit and of all his or her transactions relative thereto, showing by item the amount and market value.

(b) The commissioner and the State of Arkansas shall have no liability as to the safekeeping of any deposit by the depositary or custodian.

Acts 1959, No. 148, § 136; A.S.A. 1947, § 66-2705.
Ark. Code Ann. § 23-39-514 — AR Code / Title 23 / Chapter 39 / Subchapter 5 / Section 23-39-514
Disciplinary authority
Status: in_force

(a) The Securities Commissioner by order may deny, suspend, revoke, or refuse to issue or renew a license of a licensee or applicant under this subchapter or may restrict or limit the activities relating to mortgage loans of any licensee or any person who owns an interest in or participates in the business of a licensee if the commissioner finds that: (1) The order is in the public interest; and (2) Any of the following circumstances apply to the applicant, licensee, or any partner, member, manager, officer, director, loan officer, transitional loan officer, managing principal, or any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the applicant or licensee. The person: (A) Has filed an application for a license that as of its effective date or as of any date after filing contained any omission or statement that in light of the circumstances under which it was made is false or misleading with respect to any material fact; (B) Has violated or failed to comply with any provision of this subchapter, any rule adopted by the commissioner, or any order of the commissioner issued under this subchapter or under Acts 1977, No. 806; (C) Has pleaded guilty or nolo contendere to or has been found guilty in a domestic, foreign, or military court of: (i) A felony; (ii) An offense involving breach of trust, moral turpitude, money laundering, or fraudulent or dishonest dealing within the past ten (10) years; or (iii) An offense involving mortgage lending, any aspect of the mortgage industry, or any aspect of the securities industry, the insurance industry, or any other activity pertaining to financial services; (D) Is permanently or temporarily enjoined by any court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the mortgage industry, the securities business, the insurance business, or any other activity pertaining to financial services; (E) Is the subject of an order of the commissioner: (i) Denying, suspending, revoking, restricting, or limiting that person's license as a mortgage broker, mortgage banker, mortgage servicer, loan officer, transitional loan officer, securities broker-dealer, securities agent, investment adviser, or investment adviser representative; or (ii) Directing that person to cease and desist from an activity regulated by the commissioner, including any order entered pursuant to Acts 1977, No. 806; (F) Is the subject of an order, including a denial, suspension, or revocation of authority to engage in a regulated activity by any other state or federal authority to which the person is, has been, or has sought to be subject, entered within the past five (5) years, including without limitation the mortgage industry; (G) Has been found by a court of competent jurisdiction to have charged or collected any fee or rate of interest or made or brokered any mortgage loan with terms or conditions or in a manner contrary to Arkansas Constitution, Amendment 60; (H) Does not meet the qualifications or the financial responsibility, character, or general fitness requirements under § 23-39-505 or any bond or net worth requirements under this subchapter; (I) Has been the executive officer or controlling shareholder or owned a controlling interest in any mortgage broker, mortgage banker, or mortgage servicer that has been subject to an order or injunction described in subdivisions (a)(2)(D)-(G) of this section; or (J) (i) Has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter. (ii) The commissioner may enter a denial order against a person under this subsection when the person has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter, but the commissioner shall vacate the order when all fees have been paid. (b) (1) The commissioner by order may impose a civil penalty upon a licensee or any partner, officer, director, member, manager, or other person occupying a similar status or performing a similar function on behalf of a licensee for any violation of this subchapter, a rule under this subchapter, or an order of the commissioner. (2) The civil penalty shall not exceed ten thousand dollars ($10,000) for each violation under subdivision (b)(1) of this section by a mortgage broker, mortgage banker, mortgage servicer, loan officer, or transitional loan officer. (c) (1) The commissioner by order may summarily postpone or suspend the license of a licensee pending final determination of any proceeding under this section. (2) Upon entering the order, the commissioner shall promptly notify the applicant or licensee that the order has been entered and the reasons for issuing the order. (3) The applicant or licensee may contest the order by delivering a written request for a hearing to the commissioner within thirty (30) days from the date on which notice of the order is sent by the commissioner to the address of the licensee on file with the commissioner by first class mail, postage prepaid. (4) The commissioner shall schedule a hearing to be held within thirty (30) days after the commissioner receives a timely written request for a hearing, unless the hearing is postponed for a reasonable amount of time at the request of the licensee. (5) If a licensee does not request a hearing and the commissioner does not order a hearing, the order will remain in effect until it is modified or vacated by the commissioner. (6) If a hearing is requested or ordered by the commissioner, after notice of and opportunity for hearing, the commissioner may modify or vacate the order or extend it until final determination. (d) The commissioner by summary order may cancel a license or application if the commissioner finds that a licensee or applicant for a license: (1) Is no longer in existence; (2) Has ceased to do business as a loan officer, transitional loan officer, mortgage broker, mortgage banker, or mortgage servicer; (3) Is subject to an adjudication of mental incompetence or to the control of a committee, conservator, or guardian; or (4) Cannot be located after a reasonable search. (e) (1) In addition to other powers under this subchapter, upon finding that any action of a person is in violation of this subchapter, the commissioner may summarily order the person to cease and desist from the prohibited action. (2) (A) Upon entering the order under subdivision (e)(1) of this section, the commissioner shall promptly notify the person that the order has been entered and state the reasons for the order. (B) The person may contest the cease and desist order by delivering a written request for a hearing to the commissioner within thirty (30) days from the date on which notice of the order is sent by the commissioner to the last known address of the person by first class mail, postage prepaid. (C) The commissioner shall schedule a hearing to be held within a reasonable amount of time after the commissioner receives a timely written request for a hearing. (D) If the person does not request a hearing and the commissioner does not order a hearing, the order will remain in effect until it is modified or vacated by the commissioner. (E) If a hearing is requested or ordered, after notice of and opportunity for hearing, the commissioner may modify or vacate the order or make it permanent. (3) (A) A person shall be subject to a civil penalty of up to twenty-five thousand dollars ($25,000) for each violation of the commissioner's cease and desist order committed after entry of the order if: (i) The person subject to the cease and desist order fails to appeal the order in accordance with § 23-39-515 or if the person appeals and the appeal is denied or dismissed; and (ii) The person continues to engage in the prohibited action in violation of the commissioner's order. (B) The commissioner may file an action requesting the civil penalty under subdivision (e)(3)(A) of this section with the Pulaski County Circuit Court or any other court of competent jurisdiction. (C) The penalties of this section apply in addition to, but not in lieu of, any other provision of law applicable to a person for the person's failure to comply with an order of the commissioner. (f) Unless otherwise provided, any action, hearing, or other proceeding under this subchapter shall be governed by the Arkansas Administrative Procedure Act, § 25-15-201 et seq. (g) If the commissioner has grounds to believe that any person has violated the provisions of this subchapter or that facts exist that would be the basis for an order against a licensee or other person, the commissioner or the commissioner's designee, at any time, may investigate or examine the loans and business of the licensee and examine the books, accounts, records, and files of any licensee or other person relating to the complaint or matter under investigation. (h) (1) The commissioner or the commissioner's designee may: (A) Administer oaths and affirmations; (B) Issue subpoenas to require the attendance of and to examine under oath all persons whose testimony the commissioner deems relevant to the person's business; and (C) Issue subpoenas to require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records that the commissioner considers relevant or material to the inquiry. (2) (A) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may issue an order requiring the person to appear before the commissioner or the officer designated by the commissioner, to produce documentary evidence if so ordered, or to give evidence touching the matter under investigation or in question. (B) Failure to obey the order of the court may be punished by the court as a contempt of court. (3) (A) The assertion that the testimony or evidence before the commissioner may tend to incriminate or subject a person to a penalty or forfeiture shall not excuse the person from: (i) Attending and testifying; (ii) Producing any document or record; or (iii) Obeying the subpoena of the commissioner or any officer designated by the commissioner. (B) However, no person may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which the person is compelled, after claiming a privilege against self-incrimination, to testify or produce evidence, except that the person testifying is not exempt from prosecution and punishment for perjury or contempt committed while testifying. (i) (1) From time to time and with or without cause, the commissioner may conduct examinations of the books and records of any applicant or licensee in order to determine the compliance with this subchapter and any rules adopted under this subchapter. (2) The applicant or licensee shall pay a fee for each examination under subdivision (i)(1) of this section, not to exceed one hundred fifty dollars ($150) per examiner for each day or part of a day during which an examination is conducted. (3) In addition, the applicant or licensee may be required to pay the actual hotel and traveling expenses of the examiner traveling to and from the office of the commissioner while the examiner is conducting an examination under subdivision (i)(1) of this section. (j) If the commissioner finds that the managing principal, branch manager, loan officer, or transitional loan officer of a licensee had knowledge of, or reasonably should have had knowledge of, or participated in any activity that results in the entry of an order under this section suspending or withdrawing the license of a licensee, the commissioner may prohibit the managing principal, branch manager, loan officer, or transitional loan officer from serving as a managing principal, branch manager, loan officer, or transitional loan officer for any period of time the commissioner deems appropriate. (k) All orders shall contain written findings of fact and conclusions of law. Except for orders entered under subdivisions (c)(1) and (e)(1) of this section, before entering an order under this section, the commissioner shall provide: (1) Prior notice to the licensee or person who is the subject of the order; and (2) An opportunity for hearing. (l) This section does not prohibit or restrict the informal disposition of a proceeding or allegations that might give rise to a proceeding by stipulation, settlement, consent, or default in lieu of a formal or informal hearing on the allegations or in lieu of the sanctions authorized by this section. (m) (1) If it appears upon sufficient grounds or evidence satisfactory to the commissioner that any person or licensee has engaged in or is about to engage in any act or practice that violates this subchapter or any rule adopted or order issued under this subchapter or that the assets or capital of any licensee are impaired or the licensee's affairs are in an unsafe condition, the commissioner may: (A) Refer the evidence which is available concerning violations of this subchapter or any rule or order issued under this subchapter to the appropriate prosecuting attorney or regulatory agency, that with or without the reference may institute the appropriate criminal or regulatory proceedings under this subchapter; and (B) (i) Summarily order the licensee or person to cease and desist from the act or practice under subdivisions (c)(1) and (e)(1) of this section and apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this subchapter or any rule or order issued under this subchapter, or both. (ii) However, without issuing a cease and desist order, the commissioner may apply directly to the Pulaski County Circuit Court for injunctive or other relief. (2) Upon proper showing, the court shall grant a permanent or temporary injunction, restraining order, or writ of mandamus. (3) The commissioner may also seek and upon proper showing the appropriate court shall grant any other ancillary relief that may be in the public interest, including: (A) The appointment of a receiver, temporary receiver, or conservator; (B) A declaratory judgment; (C) An accounting; (D) Disgorgement; (E) Assessment of a fine in an amount of not more than ten thousand dollars ($10,000) for each violation; and (F) Any other relief as may be appropriate in the public interest. (4) The court may not require the commissioner to post a bond. Amended by Act 2021, No. 531,§ 12, eff. 7/28/2021. Amended by Act 2019, No. 315,§ 2501, eff. 7/24/2019. Amended by Act 2019, No. 200,§ 27, eff. 7/24/2019. Amended by Act 2019, No. 200,§ 26, eff. 7/24/2019. Amended by Act 2019, No. 200,§ 25, eff. 7/24/2019. Amended by Act 2019, No. 200,§ 24, eff. 7/24/2019. Amended by Act 2013, No. 1167,§ 6, eff. 8/16/2013. Acts 2003, No. 554, § 1; 2005, No. 1679, § 4; 2007, No. 748, §§ 9, 10; 2009, No. 731, §§ 26, 27; 2011, No. 894, § 16.

(a) The Securities Commissioner by order may deny, suspend, revoke, or refuse to issue or renew a license of a licensee or applicant under this subchapter or may restrict or limit the activities relating to mortgage loans of any licensee or any person who owns an interest in or participates in the business of a licensee if the commissioner finds that: (1) The order is in the public interest; and (2) Any of the following circumstances apply to the applicant, licensee, or any partner, member, manager, officer, director, loan officer, transitional loan officer, managing principal, or any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the applicant or licensee. The person: (A) Has filed an application for a license that as of its effective date or as of any date after filing contained any omission or statement that in light of the circumstances under which it was made is false or misleading with respect to any material fact; (B) Has violated or failed to comply with any provision of this subchapter, any rule adopted by the commissioner, or any order of the commissioner issued under this subchapter or under Acts 1977, No. 806; (C) Has pleaded guilty or nolo contendere to or has been found guilty in a domestic, foreign, or military court of: (i) A felony; (ii) An offense involving breach of trust, moral turpitude, money laundering, or fraudulent or dishonest dealing within the past ten (10) years; or (iii) An offense involving mortgage lending, any aspect of the mortgage industry, or any aspect of the securities industry, the insurance industry, or any other activity pertaining to financial services; (D) Is permanently or temporarily enjoined by any court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the mortgage industry, the securities business, the insurance business, or any other activity pertaining to financial services; (E) Is the subject of an order of the commissioner: (i) Denying, suspending, revoking, restricting, or limiting that person's license as a mortgage broker, mortgage banker, mortgage servicer, loan officer, transitional loan officer, securities broker-dealer, securities agent, investment adviser, or investment adviser representative; or (ii) Directing that person to cease and desist from an activity regulated by the commissioner, including any order entered pursuant to Acts 1977, No. 806; (F) Is the subject of an order, including a denial, suspension, or revocation of authority to engage in a regulated activity by any other state or federal authority to which the person is, has been, or has sought to be subject, entered within the past five (5) years, including without limitation the mortgage industry; (G) Has been found by a court of competent jurisdiction to have charged or collected any fee or rate of interest or made or brokered any mortgage loan with terms or conditions or in a manner contrary to Arkansas Constitution, Amendment 60; (H) Does not meet the qualifications or the financial responsibility, character, or general fitness requirements under § 23-39-505 or any bond or net worth requirements under this subchapter; (I) Has been the executive officer or controlling shareholder or owned a controlling interest in any mortgage broker, mortgage banker, or mortgage servicer that has been subject to an order or injunction described in subdivisions (a)(2)(D)-(G) of this section; or (J) (i) Has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter. (ii) The commissioner may enter a denial order against a person under this subsection when the person has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter, but the commissioner shall vacate the order when all fees have been paid.

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

(2) Any of the following circumstances apply to the applicant, licensee, or any partner, member, manager, officer, director, loan officer, transitional loan officer, managing principal, or any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the applicant or licensee. The person: (A) Has filed an application for a license that as of its effective date or as of any date after filing contained any omission or statement that in light of the circumstances under which it was made is false or misleading with respect to any material fact; (B) Has violated or failed to comply with any provision of this subchapter, any rule adopted by the commissioner, or any order of the commissioner issued under this subchapter or under Acts 1977, No. 806; (C) Has pleaded guilty or nolo contendere to or has been found guilty in a domestic, foreign, or military court of: (i) A felony; (ii) An offense involving breach of trust, moral turpitude, money laundering, or fraudulent or dishonest dealing within the past ten (10) years; or (iii) An offense involving mortgage lending, any aspect of the mortgage industry, or any aspect of the securities industry, the insurance industry, or any other activity pertaining to financial services; (D) Is permanently or temporarily enjoined by any court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the mortgage industry, the securities business, the insurance business, or any other activity pertaining to financial services; (E) Is the subject of an order of the commissioner: (i) Denying, suspending, revoking, restricting, or limiting that person's license as a mortgage broker, mortgage banker, mortgage servicer, loan officer, transitional loan officer, securities broker-dealer, securities agent, investment adviser, or investment adviser representative; or (ii) Directing that person to cease and desist from an activity regulated by the commissioner, including any order entered pursuant to Acts 1977, No. 806; (F) Is the subject of an order, including a denial, suspension, or revocation of authority to engage in a regulated activity by any other state or federal authority to which the person is, has been, or has sought to be subject, entered within the past five (5) years, including without limitation the mortgage industry; (G) Has been found by a court of competent jurisdiction to have charged or collected any fee or rate of interest or made or brokered any mortgage loan with terms or conditions or in a manner contrary to Arkansas Constitution, Amendment 60; (H) Does not meet the qualifications or the financial responsibility, character, or general fitness requirements under § 23-39-505 or any bond or net worth requirements under this subchapter; (I) Has been the executive officer or controlling shareholder or owned a controlling interest in any mortgage broker, mortgage banker, or mortgage servicer that has been subject to an order or injunction described in subdivisions (a)(2)(D)-(G) of this section; or (J) (i) Has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter. (ii) The commissioner may enter a denial order against a person under this subsection when the person has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter, but the commissioner shall vacate the order when all fees have been paid.

(A) Has filed an application for a license that as of its effective date or as of any date after filing contained any omission or statement that in light of the circumstances under which it was made is false or misleading with respect to any material fact;

(B) Has violated or failed to comply with any provision of this subchapter, any rule adopted by the commissioner, or any order of the commissioner issued under this subchapter or under Acts 1977, No. 806;

(C) Has pleaded guilty or nolo contendere to or has been found guilty in a domestic, foreign, or military court of: (i) A felony; (ii) An offense involving breach of trust, moral turpitude, money laundering, or fraudulent or dishonest dealing within the past ten (10) years; or (iii) An offense involving mortgage lending, any aspect of the mortgage industry, or any aspect of the securities industry, the insurance industry, or any other activity pertaining to financial services;

(i) A felony;

(ii) An offense involving breach of trust, moral turpitude, money laundering, or fraudulent or dishonest dealing within the past ten (10) years; or

(iii) An offense involving mortgage lending, any aspect of the mortgage industry, or any aspect of the securities industry, the insurance industry, or any other activity pertaining to financial services;

(D) Is permanently or temporarily enjoined by any court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the mortgage industry, the securities business, the insurance business, or any other activity pertaining to financial services;

(E) Is the subject of an order of the commissioner: (i) Denying, suspending, revoking, restricting, or limiting that person's license as a mortgage broker, mortgage banker, mortgage servicer, loan officer, transitional loan officer, securities broker-dealer, securities agent, investment adviser, or investment adviser representative; or (ii) Directing that person to cease and desist from an activity regulated by the commissioner, including any order entered pursuant to Acts 1977, No. 806;

(i) Denying, suspending, revoking, restricting, or limiting that person's license as a mortgage broker, mortgage banker, mortgage servicer, loan officer, transitional loan officer, securities broker-dealer, securities agent, investment adviser, or investment adviser representative; or

(ii) Directing that person to cease and desist from an activity regulated by the commissioner, including any order entered pursuant to Acts 1977, No. 806;

(F) Is the subject of an order, including a denial, suspension, or revocation of authority to engage in a regulated activity by any other state or federal authority to which the person is, has been, or has sought to be subject, entered within the past five (5) years, including without limitation the mortgage industry;

(G) Has been found by a court of competent jurisdiction to have charged or collected any fee or rate of interest or made or brokered any mortgage loan with terms or conditions or in a manner contrary to Arkansas Constitution, Amendment 60;

(H) Does not meet the qualifications or the financial responsibility, character, or general fitness requirements under § 23-39-505 or any bond or net worth requirements under this subchapter;

(I) Has been the executive officer or controlling shareholder or owned a controlling interest in any mortgage broker, mortgage banker, or mortgage servicer that has been subject to an order or injunction described in subdivisions (a)(2)(D)-(G) of this section; or

(J) (i) Has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter. (ii) The commissioner may enter a denial order against a person under this subsection when the person has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter, but the commissioner shall vacate the order when all fees have been paid.

(i) Has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter.

(ii) The commissioner may enter a denial order against a person under this subsection when the person has failed to pay the proper filing fee, renewal fee, or any late fee under this subchapter, but the commissioner shall vacate the order when all fees have been paid.

(b) (1) The commissioner by order may impose a civil penalty upon a licensee or any partner, officer, director, member, manager, or other person occupying a similar status or performing a similar function on behalf of a licensee for any violation of this subchapter, a rule under this subchapter, or an order of the commissioner. (2) The civil penalty shall not exceed ten thousand dollars ($10,000) for each violation under subdivision (b)(1) of this section by a mortgage broker, mortgage banker, mortgage servicer, loan officer, or transitional loan officer.

(1) The commissioner by order may impose a civil penalty upon a licensee or any partner, officer, director, member, manager, or other person occupying a similar status or performing a similar function on behalf of a licensee for any violation of this subchapter, a rule under this subchapter, or an order of the commissioner.

(2) The civil penalty shall not exceed ten thousand dollars ($10,000) for each violation under subdivision (b)(1) of this section by a mortgage broker, mortgage banker, mortgage servicer, loan officer, or transitional loan officer.

(c) (1) The commissioner by order may summarily postpone or suspend the license of a licensee pending final determination of any proceeding under this section. (2) Upon entering the order, the commissioner shall promptly notify the applicant or licensee that the order has been entered and the reasons for issuing the order. (3) The applicant or licensee may contest the order by delivering a written request for a hearing to the commissioner within thirty (30) days from the date on which notice of the order is sent by the commissioner to the address of the licensee on file with the commissioner by first class mail, postage prepaid. (4) The commissioner shall schedule a hearing to be held within thirty (30) days after the commissioner receives a timely written request for a hearing, unless the hearing is postponed for a reasonable amount of time at the request of the licensee. (5) If a licensee does not request a hearing and the commissioner does not order a hearing, the order will remain in effect until it is modified or vacated by the commissioner. (6) If a hearing is requested or ordered by the commissioner, after notice of and opportunity for hearing, the commissioner may modify or vacate the order or extend it until final determination.

(1) The commissioner by order may summarily postpone or suspend the license of a licensee pending final determination of any proceeding under this section.

(2) Upon entering the order, the commissioner shall promptly notify the applicant or licensee that the order has been entered and the reasons for issuing the order.

(3) The applicant or licensee may contest the order by delivering a written request for a hearing to the commissioner within thirty (30) days from the date on which notice of the order is sent by the commissioner to the address of the licensee on file with the commissioner by first class mail, postage prepaid.

(4) The commissioner shall schedule a hearing to be held within thirty (30) days after the commissioner receives a timely written request for a hearing, unless the hearing is postponed for a reasonable amount of time at the request of the licensee.

(5) If a licensee does not request a hearing and the commissioner does not order a hearing, the order will remain in effect until it is modified or vacated by the commissioner.

(6) If a hearing is requested or ordered by the commissioner, after notice of and opportunity for hearing, the commissioner may modify or vacate the order or extend it until final determination.

(d) The commissioner by summary order may cancel a license or application if the commissioner finds that a licensee or applicant for a license: (1) Is no longer in existence; (2) Has ceased to do business as a loan officer, transitional loan officer, mortgage broker, mortgage banker, or mortgage servicer; (3) Is subject to an adjudication of mental incompetence or to the control of a committee, conservator, or guardian; or (4) Cannot be located after a reasonable search.

(1) Is no longer in existence;

(2) Has ceased to do business as a loan officer, transitional loan officer, mortgage broker, mortgage banker, or mortgage servicer;

(3) Is subject to an adjudication of mental incompetence or to the control of a committee, conservator, or guardian; or

(4) Cannot be located after a reasonable search.

(e) (1) In addition to other powers under this subchapter, upon finding that any action of a person is in violation of this subchapter, the commissioner may summarily order the person to cease and desist from the prohibited action. (2) (A) Upon entering the order under subdivision (e)(1) of this section, the commissioner shall promptly notify the person that the order has been entered and state the reasons for the order. (B) The person may contest the cease and desist order by delivering a written request for a hearing to the commissioner within thirty (30) days from the date on which notice of the order is sent by the commissioner to the last known address of the person by first class mail, postage prepaid. (C) The commissioner shall schedule a hearing to be held within a reasonable amount of time after the commissioner receives a timely written request for a hearing. (D) If the person does not request a hearing and the commissioner does not order a hearing, the order will remain in effect until it is modified or vacated by the commissioner. (E) If a hearing is requested or ordered, after notice of and opportunity for hearing, the commissioner may modify or vacate the order or make it permanent. (3) (A) A person shall be subject to a civil penalty of up to twenty-five thousand dollars ($25,000) for each violation of the commissioner's cease and desist order committed after entry of the order if: (i) The person subject to the cease and desist order fails to appeal the order in accordance with § 23-39-515 or if the person appeals and the appeal is denied or dismissed; and (ii) The person continues to engage in the prohibited action in violation of the commissioner's order. (B) The commissioner may file an action requesting the civil penalty under subdivision (e)(3)(A) of this section with the Pulaski County Circuit Court or any other court of competent jurisdiction. (C) The penalties of this section apply in addition to, but not in lieu of, any other provision of law applicable to a person for the person's failure to comply with an order of the commissioner.

(1) In addition to other powers under this subchapter, upon finding that any action of a person is in violation of this subchapter, the commissioner may summarily order the person to cease and desist from the prohibited action.

(2) (A) Upon entering the order under subdivision (e)(1) of this section, the commissioner shall promptly notify the person that the order has been entered and state the reasons for the order. (B) The person may contest the cease and desist order by delivering a written request for a hearing to the commissioner within thirty (30) days from the date on which notice of the order is sent by the commissioner to the last known address of the person by first class mail, postage prepaid. (C) The commissioner shall schedule a hearing to be held within a reasonable amount of time after the commissioner receives a timely written request for a hearing. (D) If the person does not request a hearing and the commissioner does not order a hearing, the order will remain in effect until it is modified or vacated by the commissioner. (E) If a hearing is requested or ordered, after notice of and opportunity for hearing, the commissioner may modify or vacate the order or make it permanent.

(A) Upon entering the order under subdivision (e)(1) of this section, the commissioner shall promptly notify the person that the order has been entered and state the reasons for the order.

(B) The person may contest the cease and desist order by delivering a written request for a hearing to the commissioner within thirty (30) days from the date on which notice of the order is sent by the commissioner to the last known address of the person by first class mail, postage prepaid.

(C) The commissioner shall schedule a hearing to be held within a reasonable amount of time after the commissioner receives a timely written request for a hearing.

(D) If the person does not request a hearing and the commissioner does not order a hearing, the order will remain in effect until it is modified or vacated by the commissioner.

(E) If a hearing is requested or ordered, after notice of and opportunity for hearing, the commissioner may modify or vacate the order or make it permanent.

(3) (A) A person shall be subject to a civil penalty of up to twenty-five thousand dollars ($25,000) for each violation of the commissioner's cease and desist order committed after entry of the order if: (i) The person subject to the cease and desist order fails to appeal the order in accordance with § 23-39-515 or if the person appeals and the appeal is denied or dismissed; and (ii) The person continues to engage in the prohibited action in violation of the commissioner's order. (B) The commissioner may file an action requesting the civil penalty under subdivision (e)(3)(A) of this section with the Pulaski County Circuit Court or any other court of competent jurisdiction. (C) The penalties of this section apply in addition to, but not in lieu of, any other provision of law applicable to a person for the person's failure to comply with an order of the commissioner.

(A) A person shall be subject to a civil penalty of up to twenty-five thousand dollars ($25,000) for each violation of the commissioner's cease and desist order committed after entry of the order if: (i) The person subject to the cease and desist order fails to appeal the order in accordance with § 23-39-515 or if the person appeals and the appeal is denied or dismissed; and (ii) The person continues to engage in the prohibited action in violation of the commissioner's order.

(i) The person subject to the cease and desist order fails to appeal the order in accordance with § 23-39-515 or if the person appeals and the appeal is denied or dismissed; and

(ii) The person continues to engage in the prohibited action in violation of the commissioner's order.

(B) The commissioner may file an action requesting the civil penalty under subdivision (e)(3)(A) of this section with the Pulaski County Circuit Court or any other court of competent jurisdiction.

(C) The penalties of this section apply in addition to, but not in lieu of, any other provision of law applicable to a person for the person's failure to comply with an order of the commissioner.

(f) Unless otherwise provided, any action, hearing, or other proceeding under this subchapter shall be governed by the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

(g) If the commissioner has grounds to believe that any person has violated the provisions of this subchapter or that facts exist that would be the basis for an order against a licensee or other person, the commissioner or the commissioner's designee, at any time, may investigate or examine the loans and business of the licensee and examine the books, accounts, records, and files of any licensee or other person relating to the complaint or matter under investigation.

(h) (1) The commissioner or the commissioner's designee may: (A) Administer oaths and affirmations; (B) Issue subpoenas to require the attendance of and to examine under oath all persons whose testimony the commissioner deems relevant to the person's business; and (C) Issue subpoenas to require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records that the commissioner considers relevant or material to the inquiry. (2) (A) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may issue an order requiring the person to appear before the commissioner or the officer designated by the commissioner, to produce documentary evidence if so ordered, or to give evidence touching the matter under investigation or in question. (B) Failure to obey the order of the court may be punished by the court as a contempt of court. (3) (A) The assertion that the testimony or evidence before the commissioner may tend to incriminate or subject a person to a penalty or forfeiture shall not excuse the person from: (i) Attending and testifying; (ii) Producing any document or record; or (iii) Obeying the subpoena of the commissioner or any officer designated by the commissioner. (B) However, no person may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which the person is compelled, after claiming a privilege against self-incrimination, to testify or produce evidence, except that the person testifying is not exempt from prosecution and punishment for perjury or contempt committed while testifying.

(1) The commissioner or the commissioner's designee may: (A) Administer oaths and affirmations; (B) Issue subpoenas to require the attendance of and to examine under oath all persons whose testimony the commissioner deems relevant to the person's business; and (C) Issue subpoenas to require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records that the commissioner considers relevant or material to the inquiry.

(A) Administer oaths and affirmations;

(B) Issue subpoenas to require the attendance of and to examine under oath all persons whose testimony the commissioner deems relevant to the person's business; and

(C) Issue subpoenas to require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records that the commissioner considers relevant or material to the inquiry.

(2) (A) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may issue an order requiring the person to appear before the commissioner or the officer designated by the commissioner, to produce documentary evidence if so ordered, or to give evidence touching the matter under investigation or in question. (B) Failure to obey the order of the court may be punished by the court as a contempt of court.

(A) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may issue an order requiring the person to appear before the commissioner or the officer designated by the commissioner, to produce documentary evidence if so ordered, or to give evidence touching the matter under investigation or in question.

(B) Failure to obey the order of the court may be punished by the court as a contempt of court.

(3) (A) The assertion that the testimony or evidence before the commissioner may tend to incriminate or subject a person to a penalty or forfeiture shall not excuse the person from: (i) Attending and testifying; (ii) Producing any document or record; or (iii) Obeying the subpoena of the commissioner or any officer designated by the commissioner. (B) However, no person may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which the person is compelled, after claiming a privilege against self-incrimination, to testify or produce evidence, except that the person testifying is not exempt from prosecution and punishment for perjury or contempt committed while testifying.

(A) The assertion that the testimony or evidence before the commissioner may tend to incriminate or subject a person to a penalty or forfeiture shall not excuse the person from: (i) Attending and testifying; (ii) Producing any document or record; or (iii) Obeying the subpoena of the commissioner or any officer designated by the commissioner.

(i) Attending and testifying;

(ii) Producing any document or record; or

(iii) Obeying the subpoena of the commissioner or any officer designated by the commissioner.

(B) However, no person may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which the person is compelled, after claiming a privilege against self-incrimination, to testify or produce evidence, except that the person testifying is not exempt from prosecution and punishment for perjury or contempt committed while testifying.

(i) (1) From time to time and with or without cause, the commissioner may conduct examinations of the books and records of any applicant or licensee in order to determine the compliance with this subchapter and any rules adopted under this subchapter. (2) The applicant or licensee shall pay a fee for each examination under subdivision (i)(1) of this section, not to exceed one hundred fifty dollars ($150) per examiner for each day or part of a day during which an examination is conducted. (3) In addition, the applicant or licensee may be required to pay the actual hotel and traveling expenses of the examiner traveling to and from the office of the commissioner while the examiner is conducting an examination under subdivision (i)(1) of this section.

(1) From time to time and with or without cause, the commissioner may conduct examinations of the books and records of any applicant or licensee in order to determine the compliance with this subchapter and any rules adopted under this subchapter.

(2) The applicant or licensee shall pay a fee for each examination under subdivision (i)(1) of this section, not to exceed one hundred fifty dollars ($150) per examiner for each day or part of a day during which an examination is conducted.

(3) In addition, the applicant or licensee may be required to pay the actual hotel and traveling expenses of the examiner traveling to and from the office of the commissioner while the examiner is conducting an examination under subdivision (i)(1) of this section.

(j) If the commissioner finds that the managing principal, branch manager, loan officer, or transitional loan officer of a licensee had knowledge of, or reasonably should have had knowledge of, or participated in any activity that results in the entry of an order under this section suspending or withdrawing the license of a licensee, the commissioner may prohibit the managing principal, branch manager, loan officer, or transitional loan officer from serving as a managing principal, branch manager, loan officer, or transitional loan officer for any period of time the commissioner deems appropriate.

(k) All orders shall contain written findings of fact and conclusions of law. Except for orders entered under subdivisions (c)(1) and (e)(1) of this section, before entering an order under this section, the commissioner shall provide: (1) Prior notice to the licensee or person who is the subject of the order; and (2) An opportunity for hearing.

(1) Prior notice to the licensee or person who is the subject of the order; and

(2) An opportunity for hearing.

(l) This section does not prohibit or restrict the informal disposition of a proceeding or allegations that might give rise to a proceeding by stipulation, settlement, consent, or default in lieu of a formal or informal hearing on the allegations or in lieu of the sanctions authorized by this section.

(m) (1) If it appears upon sufficient grounds or evidence satisfactory to the commissioner that any person or licensee has engaged in or is about to engage in any act or practice that violates this subchapter or any rule adopted or order issued under this subchapter or that the assets or capital of any licensee are impaired or the licensee's affairs are in an unsafe condition, the commissioner may: (A) Refer the evidence which is available concerning violations of this subchapter or any rule or order issued under this subchapter to the appropriate prosecuting attorney or regulatory agency, that with or without the reference may institute the appropriate criminal or regulatory proceedings under this subchapter; and (B) (i) Summarily order the licensee or person to cease and desist from the act or practice under subdivisions (c)(1) and (e)(1) of this section and apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this subchapter or any rule or order issued under this subchapter, or both. (ii) However, without issuing a cease and desist order, the commissioner may apply directly to the Pulaski County Circuit Court for injunctive or other relief. (2) Upon proper showing, the court shall grant a permanent or temporary injunction, restraining order, or writ of mandamus. (3) The commissioner may also seek and upon proper showing the appropriate court shall grant any other ancillary relief that may be in the public interest, including: (A) The appointment of a receiver, temporary receiver, or conservator; (B) A declaratory judgment; (C) An accounting; (D) Disgorgement; (E) Assessment of a fine in an amount of not more than ten thousand dollars ($10,000) for each violation; and (F) Any other relief as may be appropriate in the public interest. (4) The court may not require the commissioner to post a bond.

(1) If it appears upon sufficient grounds or evidence satisfactory to the commissioner that any person or licensee has engaged in or is about to engage in any act or practice that violates this subchapter or any rule adopted or order issued under this subchapter or that the assets or capital of any licensee are impaired or the licensee's affairs are in an unsafe condition, the commissioner may: (A) Refer the evidence which is available concerning violations of this subchapter or any rule or order issued under this subchapter to the appropriate prosecuting attorney or regulatory agency, that with or without the reference may institute the appropriate criminal or regulatory proceedings under this subchapter; and (B) (i) Summarily order the licensee or person to cease and desist from the act or practice under subdivisions (c)(1) and (e)(1) of this section and apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this subchapter or any rule or order issued under this subchapter, or both. (ii) However, without issuing a cease and desist order, the commissioner may apply directly to the Pulaski County Circuit Court for injunctive or other relief.

(A) Refer the evidence which is available concerning violations of this subchapter or any rule or order issued under this subchapter to the appropriate prosecuting attorney or regulatory agency, that with or without the reference may institute the appropriate criminal or regulatory proceedings under this subchapter; and

(B) (i) Summarily order the licensee or person to cease and desist from the act or practice under subdivisions (c)(1) and (e)(1) of this section and apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this subchapter or any rule or order issued under this subchapter, or both. (ii) However, without issuing a cease and desist order, the commissioner may apply directly to the Pulaski County Circuit Court for injunctive or other relief.

(i) Summarily order the licensee or person to cease and desist from the act or practice under subdivisions (c)(1) and (e)(1) of this section and apply to the Pulaski County Circuit Court to enjoin the act or practice and to enforce compliance with this subchapter or any rule or order issued under this subchapter, or both.

(ii) However, without issuing a cease and desist order, the commissioner may apply directly to the Pulaski County Circuit Court for injunctive or other relief.

(2) Upon proper showing, the court shall grant a permanent or temporary injunction, restraining order, or writ of mandamus.

(3) The commissioner may also seek and upon proper showing the appropriate court shall grant any other ancillary relief that may be in the public interest, including: (A) The appointment of a receiver, temporary receiver, or conservator; (B) A declaratory judgment; (C) An accounting; (D) Disgorgement; (E) Assessment of a fine in an amount of not more than ten thousand dollars ($10,000) for each violation; and (F) Any other relief as may be appropriate in the public interest.

(A) The appointment of a receiver, temporary receiver, or conservator;

(B) A declaratory judgment;

(C) An accounting;

(D) Disgorgement;

(E) Assessment of a fine in an amount of not more than ten thousand dollars ($10,000) for each violation; and

(F) Any other relief as may be appropriate in the public interest.

(4) The court may not require the commissioner to post a bond.

Amended by Act 2021, No. 531,§ 12, eff. 7/28/2021.

Amended by Act 2019, No. 315,§ 2501, eff. 7/24/2019.

Amended by Act 2019, No. 200,§ 27, eff. 7/24/2019.

Amended by Act 2019, No. 200,§ 26, eff. 7/24/2019.

Amended by Act 2019, No. 200,§ 25, eff. 7/24/2019.

Amended by Act 2019, No. 200,§ 24, eff. 7/24/2019.

Amended by Act 2013, No. 1167,§ 6, eff. 8/16/2013.

Acts 2003, No. 554, § 1; 2005, No. 1679, § 4; 2007, No. 748, §§ 9, 10; 2009, No. 731, §§ 26, 27; 2011, No. 894, § 16.
Ark. Code Ann. § 23-17-417 — AR Code / Title 23 / Chapter 17 / Subchapter 4 / Section 23-17-417
Arkansas Intrastate Carrier Common Line Pool Advisory Procedural Board
Status: in_force

(a) The Arkansas Intrastate Carrier Common Line Pool Advisory Procedural Board is not a government entity under Arkansas law and shall not be considered a government entity for any purpose. (b) The Arkansas Public Service Commission shall adopt all rules relating to the operation of the board that are reasonably necessary to implement this section. (c) The board shall serve in an advisory capacity and may: (1) Propose tariffs and rules to the commission; (2) Propose amendments to its procedures for the operation, administration, and audit of the AICCLP; (3) Advise the commission on other matters reasonably related to the operation of the AICCLP and the board; (4) Meet by teleconference or by other technological means; and (5) Provide recommendations and reports to the commission. (d) The board shall be composed of two (2) representatives of underlying carriers and five (5) representatives of ILECs who are members of the AICCLP as follows: (1) The two (2) underlying carriers' representatives shall be the first two (2) willing representatives of the largest underlying carriers, as determined by the AICCLP administrator, based upon the carriers' portion of the Arkansas intrastate telecommunications service revenues and special intrastate ILEC revenues; (2) (A) The commission shall determine the appropriate underlying carrier and ILEC member representatives on or before June 1 of each year. (B) The commission shall approve any ILEC representative if the proposed representative's name is submitted by a two-thirds (2/3) majority of all ILEC members of the AICCLP for any open ILEC position on the board; and (3) (A) The five (5) ILEC representatives of AICCLP members shall be willing representatives of ILECs who are members of the AICCLP. (B) (i) The five (5) ILEC representatives will serve staggered five-year terms with the terms to be determined by lot at the first meeting of the board. (ii) A representative may serve unlimited terms. (C) No ILEC or underlying carrier may be represented by more than one (1) board member. (e) The board shall begin operations as of the date the commission appoints the first administrator. Acts 2003, No. 1788, § 9.

(a) The Arkansas Intrastate Carrier Common Line Pool Advisory Procedural Board is not a government entity under Arkansas law and shall not be considered a government entity for any purpose.

(b) The Arkansas Public Service Commission shall adopt all rules relating to the operation of the board that are reasonably necessary to implement this section.

(c) The board shall serve in an advisory capacity and may: (1) Propose tariffs and rules to the commission; (2) Propose amendments to its procedures for the operation, administration, and audit of the AICCLP; (3) Advise the commission on other matters reasonably related to the operation of the AICCLP and the board; (4) Meet by teleconference or by other technological means; and (5) Provide recommendations and reports to the commission.

(1) Propose tariffs and rules to the commission;

(2) Propose amendments to its procedures for the operation, administration, and audit of the AICCLP;

(3) Advise the commission on other matters reasonably related to the operation of the AICCLP and the board;

(4) Meet by teleconference or by other technological means; and

(5) Provide recommendations and reports to the commission.

(d) The board shall be composed of two (2) representatives of underlying carriers and five (5) representatives of ILECs who are members of the AICCLP as follows: (1) The two (2) underlying carriers' representatives shall be the first two (2) willing representatives of the largest underlying carriers, as determined by the AICCLP administrator, based upon the carriers' portion of the Arkansas intrastate telecommunications service revenues and special intrastate ILEC revenues; (2) (A) The commission shall determine the appropriate underlying carrier and ILEC member representatives on or before June 1 of each year. (B) The commission shall approve any ILEC representative if the proposed representative's name is submitted by a two-thirds (2/3) majority of all ILEC members of the AICCLP for any open ILEC position on the board; and (3) (A) The five (5) ILEC representatives of AICCLP members shall be willing representatives of ILECs who are members of the AICCLP. (B) (i) The five (5) ILEC representatives will serve staggered five-year terms with the terms to be determined by lot at the first meeting of the board. (ii) A representative may serve unlimited terms. (C) No ILEC or underlying carrier may be represented by more than one (1) board member.

(1) The two (2) underlying carriers' representatives shall be the first two (2) willing representatives of the largest underlying carriers, as determined by the AICCLP administrator, based upon the carriers' portion of the Arkansas intrastate telecommunications service revenues and special intrastate ILEC revenues;

(2) (A) The commission shall determine the appropriate underlying carrier and ILEC member representatives on or before June 1 of each year. (B) The commission shall approve any ILEC representative if the proposed representative's name is submitted by a two-thirds (2/3) majority of all ILEC members of the AICCLP for any open ILEC position on the board; and

(A) The commission shall determine the appropriate underlying carrier and ILEC member representatives on or before June 1 of each year.

(B) The commission shall approve any ILEC representative if the proposed representative's name is submitted by a two-thirds (2/3) majority of all ILEC members of the AICCLP for any open ILEC position on the board; and

(3) (A) The five (5) ILEC representatives of AICCLP members shall be willing representatives of ILECs who are members of the AICCLP. (B) (i) The five (5) ILEC representatives will serve staggered five-year terms with the terms to be determined by lot at the first meeting of the board. (ii) A representative may serve unlimited terms. (C) No ILEC or underlying carrier may be represented by more than one (1) board member.

(A) The five (5) ILEC representatives of AICCLP members shall be willing representatives of ILECs who are members of the AICCLP.

(B) (i) The five (5) ILEC representatives will serve staggered five-year terms with the terms to be determined by lot at the first meeting of the board. (ii) A representative may serve unlimited terms.

(i) The five (5) ILEC representatives will serve staggered five-year terms with the terms to be determined by lot at the first meeting of the board.

(ii) A representative may serve unlimited terms.

(C) No ILEC or underlying carrier may be represented by more than one (1) board member.

(e) The board shall begin operations as of the date the commission appoints the first administrator.

Acts 2003, No. 1788, § 9.
Ark. Code Ann. § 23-112-1011 — AR Code / Title 23 / Chapter 112 / Subchapter 10 / Section 23-112-1011
Renewal of dealer agreement
Status: in_force

In a renewal of a dealer agreement, the manufacturer shall not impose on the dealer stocking requirements or retail sales targets that are inconsistent with market growth or contraction in the area of sales responsibility of the dealer. Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.

In a renewal of a dealer agreement, the manufacturer shall not impose on the dealer stocking requirements or retail sales targets that are inconsistent with market growth or contraction in the area of sales responsibility of the dealer.

Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.