Ark. Code Ann. § 23-69-156 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-156
Nonactive corporate charter - Nullification
Status: in_force

(a) As used in this section, a corporation shall be deemed to have engaged in the business of insurance as a domestic insurer if any of its officers, directors, agents, or employees has engaged in: (1) The writing of insurance; (2) The reinsurance of risks; (3) The handling of claims; or (4) Any acts necessary or incidental to writing insurance, reinsuring risks, or handling claims. (b) The corporate charter of any corporation formed under the laws of this state more than three (3) years prior to January 1, 1960, for the purpose of becoming an insurer and which corporation within the three-year period has not at any time actively engaged in business as a domestic insurer under a certificate of authority issued to it by the Insurance Commissioner under laws then in force, is extinguished and nullified. (c) The corporate charter of any other corporation formed under the laws of this state for the purpose of becoming an insurer, and which corporation during any period of thirty-six (36) consecutive months after January 1, 1960, is not actively engaged in business as a domestic insurer under a certificate of authority issued to it by the commissioner under laws currently in force, is not automatically extinguished and nullified at the expiration of the thirty-six-month period. (d) The period during which a corporation referred to in subsection (c) of this section is the subject of delinquency proceedings under §§ 23-68-101 - 23-68-113 and 23-68-115 - 23-68-132 shall not be counted as part of any such thirty-six-month period. (e) Upon merger or consolidation of a domestic insurer with another insurer under this chapter, the corporate charter of the merged or consolidated domestic insurer shall automatically be extinguished and nullified. (f) (1) In the event a domestic insurer assumption reinsures all of the ceding domestic insurer's business in force or all except a token amount of the ceding domestic insurer's business, the commissioner, after notice and a hearing, shall make a determination and order that the ceding domestic insurer's corporate charter is extinguished or is continued in full force and effect. (2) In making such a determination and order, the commissioner shall fully consider the equities to the stockholders, or members if the ceding domestic insurer is a mutual, and the policyholders of the ceding domestic insurer. (3) With regard to proposed transactions of a domestic insurer which is a subsidiary or affiliate of a depository institution, the hearing shall be concluded and the order issued within the period required by federal law, and the order shall be final upon entry. Acts 1959, No. 148, § 509; A.S.A. 1947, § 66-4257; Acts 1989, No. 772, §§ 13, 14; 2001, No. 1604, § 68; 2005, No. 506, § 36.

(a) As used in this section, a corporation shall be deemed to have engaged in the business of insurance as a domestic insurer if any of its officers, directors, agents, or employees has engaged in: (1) The writing of insurance; (2) The reinsurance of risks; (3) The handling of claims; or (4) Any acts necessary or incidental to writing insurance, reinsuring risks, or handling claims.

(1) The writing of insurance;

(2) The reinsurance of risks;

(3) The handling of claims; or

(4) Any acts necessary or incidental to writing insurance, reinsuring risks, or handling claims.

(b) The corporate charter of any corporation formed under the laws of this state more than three (3) years prior to January 1, 1960, for the purpose of becoming an insurer and which corporation within the three-year period has not at any time actively engaged in business as a domestic insurer under a certificate of authority issued to it by the Insurance Commissioner under laws then in force, is extinguished and nullified.

(c) The corporate charter of any other corporation formed under the laws of this state for the purpose of becoming an insurer, and which corporation during any period of thirty-six (36) consecutive months after January 1, 1960, is not actively engaged in business as a domestic insurer under a certificate of authority issued to it by the commissioner under laws currently in force, is not automatically extinguished and nullified at the expiration of the thirty-six-month period.

(d) The period during which a corporation referred to in subsection (c) of this section is the subject of delinquency proceedings under §§ 23-68-101 - 23-68-113 and 23-68-115 - 23-68-132 shall not be counted as part of any such thirty-six-month period.

(e) Upon merger or consolidation of a domestic insurer with another insurer under this chapter, the corporate charter of the merged or consolidated domestic insurer shall automatically be extinguished and nullified.

(f) (1) In the event a domestic insurer assumption reinsures all of the ceding domestic insurer's business in force or all except a token amount of the ceding domestic insurer's business, the commissioner, after notice and a hearing, shall make a determination and order that the ceding domestic insurer's corporate charter is extinguished or is continued in full force and effect. (2) In making such a determination and order, the commissioner shall fully consider the equities to the stockholders, or members if the ceding domestic insurer is a mutual, and the policyholders of the ceding domestic insurer. (3) With regard to proposed transactions of a domestic insurer which is a subsidiary or affiliate of a depository institution, the hearing shall be concluded and the order issued within the period required by federal law, and the order shall be final upon entry.

(1) In the event a domestic insurer assumption reinsures all of the ceding domestic insurer's business in force or all except a token amount of the ceding domestic insurer's business, the commissioner, after notice and a hearing, shall make a determination and order that the ceding domestic insurer's corporate charter is extinguished or is continued in full force and effect.

(2) In making such a determination and order, the commissioner shall fully consider the equities to the stockholders, or members if the ceding domestic insurer is a mutual, and the policyholders of the ceding domestic insurer.

(3) With regard to proposed transactions of a domestic insurer which is a subsidiary or affiliate of a depository institution, the hearing shall be concluded and the order issued within the period required by federal law, and the order shall be final upon entry.

Acts 1959, No. 148, § 509; A.S.A. 1947, § 66-4257; Acts 1989, No. 772, §§ 13, 14; 2001, No. 1604, § 68; 2005, No. 506, § 36.
Ark. Code Ann. § 23-76-132 — AR Code / Title 23 / Chapter 76 / Section 23-76-132
College students
Status: in_force

If a health maintenance organization requires the selection or assignment of a primary care physician, the health maintenance organization shall provide an enrollee who is a student enrolled at a postsecondary institution one (1) of the following options: (1) To select two (2) primary care physicians, one (1) located near the enrollee's domicile and one (1) located near the postsecondary institution, provided both primary care physicians have provider contracts with the health maintenance organization; or (2) To select a primary care physician when the enrollee resides near the enrollee's domicile and then change primary care physicians when the enrollee attends the postsecondary institution, the effective date of the change to be the first of the month following notification, provided both primary care physicians have provider contracts with the health maintenance organization. Acts 2001, No. 1289, § 1.

If a health maintenance organization requires the selection or assignment of a primary care physician, the health maintenance organization shall provide an enrollee who is a student enrolled at a postsecondary institution one (1) of the following options:

(1) To select two (2) primary care physicians, one (1) located near the enrollee's domicile and one (1) located near the postsecondary institution, provided both primary care physicians have provider contracts with the health maintenance organization; or

(2) To select a primary care physician when the enrollee resides near the enrollee's domicile and then change primary care physicians when the enrollee attends the postsecondary institution, the effective date of the change to be the first of the month following notification, provided both primary care physicians have provider contracts with the health maintenance organization.

Acts 2001, No. 1289, § 1.
Ark. Code Ann. § 23-63-531 — AR Code / Title 23 / Chapter 63 / Subchapter 5 / Section 23-63-531
Supervisory colleges
Status: in_force

(a) (1) The Insurance Commissioner may participate in a supervisory college for a domestic insurer registered under § 23-63-514 that is part of an insurance holding company system with international operations to determine compliance by the insurer with this section. (2) The commissioner may participate in a supervisory college for a domestic insurer that includes without limitation: (A) Initiating the establishment of a supervisory college; (B) Clarifying the membership and participation of other supervisors in the supervisory college; (C) Clarifying the functions of the supervisory college, the role of other regulators, and establishing a group-wide supervisor; (D) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and procedures to share information; and (E) Establishing a crisis management plan. (b) (1) (A) A domestic insurer subject to this section is liable for and shall pay any reasonable expenses, including reasonable travel expenses, of the commissioner's participation in a supervisory college under subsection (c) of this section. (B) The commissioner may establish a regular assessment to the domestic insurer for the expenses described in subdivision (b)(1)(A) of this section. (2) For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the domestic insurer or its affiliates. (c) (1) In order to assess the business strategy, financial, legal, and regulatory position, risk exposure, risk management, and governance processes, and as part of the examination of individual insurers according to § 23-63-516 , the commissioner may participate in a supervisory college with other regulators that are charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. (2) The commissioner may enter into agreements according to § 23-63-517(c) providing the basis for cooperation among the commissioner, the other regulatory agencies, and the activities of the supervisory college. (3) This section does not delegate to the supervisory college any authority of the commissioner to regulate or supervise the domestic insurer or its affiliates within the commissioner's jurisdiction. Added by Act 2015, No. 1223,§ 14, eff. 7/22/2015.

(a) (1) The Insurance Commissioner may participate in a supervisory college for a domestic insurer registered under § 23-63-514 that is part of an insurance holding company system with international operations to determine compliance by the insurer with this section. (2) The commissioner may participate in a supervisory college for a domestic insurer that includes without limitation: (A) Initiating the establishment of a supervisory college; (B) Clarifying the membership and participation of other supervisors in the supervisory college; (C) Clarifying the functions of the supervisory college, the role of other regulators, and establishing a group-wide supervisor; (D) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and procedures to share information; and (E) Establishing a crisis management plan.

(1) The Insurance Commissioner may participate in a supervisory college for a domestic insurer registered under § 23-63-514 that is part of an insurance holding company system with international operations to determine compliance by the insurer with this section.

(2) The commissioner may participate in a supervisory college for a domestic insurer that includes without limitation: (A) Initiating the establishment of a supervisory college; (B) Clarifying the membership and participation of other supervisors in the supervisory college; (C) Clarifying the functions of the supervisory college, the role of other regulators, and establishing a group-wide supervisor; (D) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and procedures to share information; and (E) Establishing a crisis management plan.

(A) Initiating the establishment of a supervisory college;

(B) Clarifying the membership and participation of other supervisors in the supervisory college;

(C) Clarifying the functions of the supervisory college, the role of other regulators, and establishing a group-wide supervisor;

(D) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and procedures to share information; and

(E) Establishing a crisis management plan.

(b) (1) (A) A domestic insurer subject to this section is liable for and shall pay any reasonable expenses, including reasonable travel expenses, of the commissioner's participation in a supervisory college under subsection (c) of this section. (B) The commissioner may establish a regular assessment to the domestic insurer for the expenses described in subdivision (b)(1)(A) of this section. (2) For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the domestic insurer or its affiliates.

(1) (A) A domestic insurer subject to this section is liable for and shall pay any reasonable expenses, including reasonable travel expenses, of the commissioner's participation in a supervisory college under subsection (c) of this section. (B) The commissioner may establish a regular assessment to the domestic insurer for the expenses described in subdivision (b)(1)(A) of this section.

(A) A domestic insurer subject to this section is liable for and shall pay any reasonable expenses, including reasonable travel expenses, of the commissioner's participation in a supervisory college under subsection (c) of this section.

(B) The commissioner may establish a regular assessment to the domestic insurer for the expenses described in subdivision (b)(1)(A) of this section.

(2) For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the domestic insurer or its affiliates.

(c) (1) In order to assess the business strategy, financial, legal, and regulatory position, risk exposure, risk management, and governance processes, and as part of the examination of individual insurers according to § 23-63-516 , the commissioner may participate in a supervisory college with other regulators that are charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. (2) The commissioner may enter into agreements according to § 23-63-517(c) providing the basis for cooperation among the commissioner, the other regulatory agencies, and the activities of the supervisory college. (3) This section does not delegate to the supervisory college any authority of the commissioner to regulate or supervise the domestic insurer or its affiliates within the commissioner's jurisdiction.

(1) In order to assess the business strategy, financial, legal, and regulatory position, risk exposure, risk management, and governance processes, and as part of the examination of individual insurers according to § 23-63-516 , the commissioner may participate in a supervisory college with other regulators that are charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies.

(2) The commissioner may enter into agreements according to § 23-63-517(c) providing the basis for cooperation among the commissioner, the other regulatory agencies, and the activities of the supervisory college.

(3) This section does not delegate to the supervisory college any authority of the commissioner to regulate or supervise the domestic insurer or its affiliates within the commissioner's jurisdiction.

Added by Act 2015, No. 1223,§ 14, eff. 7/22/2015.
Ark. Code Ann. § 23-69-137 — AR Code / Title 23 / Chapter 69 / Subchapter 1 / Section 23-69-137
Management and exclusive agency contracts
Status: in_force

(a) (1) No domestic insurer shall make any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors or to have the controlling or preemptive right to produce substantially all insurance business for the insurer unless the contract is filed with and approved by the Insurance Commissioner. (2) The contract shall be deemed approved unless disapproved by the commissioner within twenty (20) days after the date of filing, subject to such reasonable extension of time as the commissioner may require by notice given within the twenty (20) days. (3) Any disapproval shall be delivered to the insurer in writing, stating the grounds therefor. (b) The commissioner shall disapprove any contract if he or she finds that it: (1) Subjects the insurer to excessive charges; (2) Is to extend for an unreasonable length of time; (3) Does not contain fair and adequate standards of performance; or (4) Contains other inequitable provisions which impair the proper interests of stockholders or members of the insurer. (c) The provisions of this section shall not apply to contracts of domestic licensees governed by the provisions of: (1) Sections 23-63-514 and 23-63-515 of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq.; (2) The Managing General Agents Act, § 23-64-401 et seq.; and (3) Section 23-63-105 concerning service contracts to perform administrative functions. Acts 1959, No. 148, § 492; A.S.A. 1947, § 66-4240; Acts 1999, No. 327, § 2.

(a) (1) No domestic insurer shall make any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors or to have the controlling or preemptive right to produce substantially all insurance business for the insurer unless the contract is filed with and approved by the Insurance Commissioner. (2) The contract shall be deemed approved unless disapproved by the commissioner within twenty (20) days after the date of filing, subject to such reasonable extension of time as the commissioner may require by notice given within the twenty (20) days. (3) Any disapproval shall be delivered to the insurer in writing, stating the grounds therefor.

(1) No domestic insurer shall make any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors or to have the controlling or preemptive right to produce substantially all insurance business for the insurer unless the contract is filed with and approved by the Insurance Commissioner.

(2) The contract shall be deemed approved unless disapproved by the commissioner within twenty (20) days after the date of filing, subject to such reasonable extension of time as the commissioner may require by notice given within the twenty (20) days.

(3) Any disapproval shall be delivered to the insurer in writing, stating the grounds therefor.

(b) The commissioner shall disapprove any contract if he or she finds that it: (1) Subjects the insurer to excessive charges; (2) Is to extend for an unreasonable length of time; (3) Does not contain fair and adequate standards of performance; or (4) Contains other inequitable provisions which impair the proper interests of stockholders or members of the insurer.

(1) Subjects the insurer to excessive charges;

(2) Is to extend for an unreasonable length of time;

(3) Does not contain fair and adequate standards of performance; or

(4) Contains other inequitable provisions which impair the proper interests of stockholders or members of the insurer.

(c) The provisions of this section shall not apply to contracts of domestic licensees governed by the provisions of: (1) Sections 23-63-514 and 23-63-515 of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq.; (2) The Managing General Agents Act, § 23-64-401 et seq.; and (3) Section 23-63-105 concerning service contracts to perform administrative functions.

(1) Sections 23-63-514 and 23-63-515 of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq.;

(2) The Managing General Agents Act, § 23-64-401 et seq.; and

(3) Section 23-63-105 concerning service contracts to perform administrative functions.

Acts 1959, No. 148, § 492; A.S.A. 1947, § 66-4240; Acts 1999, No. 327, § 2.
Ark. Code Ann. § 23-97-302 — AR Code / Title 23 / Chapter 97 / Subchapter 3 / Section 23-97-302
Purpose
Status: in_force

The purpose of this subchapter is to: (1) Promote the public interest; (2) Promote the availability of long-term care insurance policies; (3) Protect applicants for long-term care insurance from unfair or deceptive sales or enrollment practices; (4) Establish standards for long-term care insurance; (5) Facilitate public understanding and comparison of long-term care insurance policies; and (6) Facilitate flexibility and innovation in the development of long-term care insurance coverage. Acts 2005, No. 1697, § 31.

The purpose of this subchapter is to:

(1) Promote the public interest;

(2) Promote the availability of long-term care insurance policies;

(3) Protect applicants for long-term care insurance from unfair or deceptive sales or enrollment practices;

(4) Establish standards for long-term care insurance;

(5) Facilitate public understanding and comparison of long-term care insurance policies; and

(6) Facilitate flexibility and innovation in the development of long-term care insurance coverage.

Acts 2005, No. 1697, § 31.
Ark. Code Ann. § 23-55-603 — AR Code / Title 23 / Chapter 55 / Section 23-55-603
Reports
Status: in_force

(a) A licensee shall file with the commissioner within 15 business days any material changes in information provided in a licensee's application as prescribed by the commissioner. (b) A licensee shall file with the commissioner within 45 days after the end of each calendar quarter a current list of all authorized delegates, and locations in this State where the licensee or an authorized delegate of the licensee provides money services, including limited stations and mobile locations. The licensee shall state the name and street address of each location and authorized delegate. (c) A money transmission licensee shall file with the commissioner within 90 days after the end of the money transmission licensee's fiscal year a copy of the money transmission licensee's audited financial statement from the most recently completed fiscal year or, if the money transmission licensee is a wholly owned subsidiary of another corporation, the consolidated audited financial statement of the parent corporation from the most recently completed fiscal year or the money transmission licensee's consolidated audited annual financial statement from the most recently completed fiscal year. (d) A licensee shall file a report with the commissioner within 3 business days after the licensee has reason to know of the occurrence of the following events: (1) the filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. §§ 101-110 (1994 & Supp. V 1999), for bankruptcy or reorganization; (2) the filing of a petition by or against the licensee for receivership, the commencement of judicial or administrative proceedings for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; (3) the commencement of a proceeding to revoke or suspend its license in a state or country that the licensee engages in business or is licensed; (4) the cancellation or impairment of the licensee's bond or other security; (5) a charge or conviction of the licensee or of an executive officer, manager, director, or person in control of the licensee, for a felony; or (6) a charge or conviction of an authorized delegate for a felony. (e) A licensee shall file with the commissioner within 45 days after the end of each calendar quarter, in a form acceptable to the commissioner, a report of the number and monetary amount of payment instruments, stored-value, prepaid access, and virtual currency sold by the licensee in this State for that quarter, and the monetary amount of payment instruments, stored-value, prepaid access, and virtual currency currently outstanding. (f) The commissioner may for good cause grant an extension of the reporting date. Amended by Act 2021, No. 532,§ 17, eff. 7/28/2021. Amended by Act 2017, No. 620,§ 4, eff. 8/1/2017. Amended by Act 2017, No. 620,§ 3, eff. 8/1/2017. Acts 2007, No. 1595, § 1; 2011, No. 733, §§ 11, 12.

(a) A licensee shall file with the commissioner within 15 business days any material changes in information provided in a licensee's application as prescribed by the commissioner.

(b) A licensee shall file with the commissioner within 45 days after the end of each calendar quarter a current list of all authorized delegates, and locations in this State where the licensee or an authorized delegate of the licensee provides money services, including limited stations and mobile locations. The licensee shall state the name and street address of each location and authorized delegate.

(c) A money transmission licensee shall file with the commissioner within 90 days after the end of the money transmission licensee's fiscal year a copy of the money transmission licensee's audited financial statement from the most recently completed fiscal year or, if the money transmission licensee is a wholly owned subsidiary of another corporation, the consolidated audited financial statement of the parent corporation from the most recently completed fiscal year or the money transmission licensee's consolidated audited annual financial statement from the most recently completed fiscal year.

(d) A licensee shall file a report with the commissioner within 3 business days after the licensee has reason to know of the occurrence of the following events: (1) the filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. §§ 101-110 (1994 & Supp. V 1999), for bankruptcy or reorganization; (2) the filing of a petition by or against the licensee for receivership, the commencement of judicial or administrative proceedings for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; (3) the commencement of a proceeding to revoke or suspend its license in a state or country that the licensee engages in business or is licensed; (4) the cancellation or impairment of the licensee's bond or other security; (5) a charge or conviction of the licensee or of an executive officer, manager, director, or person in control of the licensee, for a felony; or (6) a charge or conviction of an authorized delegate for a felony.

(1) the filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. §§ 101-110 (1994 & Supp. V 1999), for bankruptcy or reorganization;

(2) the filing of a petition by or against the licensee for receivership, the commencement of judicial or administrative proceedings for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;

(3) the commencement of a proceeding to revoke or suspend its license in a state or country that the licensee engages in business or is licensed;

(4) the cancellation or impairment of the licensee's bond or other security;

(5) a charge or conviction of the licensee or of an executive officer, manager, director, or person in control of the licensee, for a felony; or

(6) a charge or conviction of an authorized delegate for a felony.

(e) A licensee shall file with the commissioner within 45 days after the end of each calendar quarter, in a form acceptable to the commissioner, a report of the number and monetary amount of payment instruments, stored-value, prepaid access, and virtual currency sold by the licensee in this State for that quarter, and the monetary amount of payment instruments, stored-value, prepaid access, and virtual currency currently outstanding.

(f) The commissioner may for good cause grant an extension of the reporting date.

Amended by Act 2021, No. 532,§ 17, eff. 7/28/2021.

Amended by Act 2017, No. 620,§ 4, eff. 8/1/2017.

Amended by Act 2017, No. 620,§ 3, eff. 8/1/2017.

Acts 2007, No. 1595, § 1; 2011, No. 733, §§ 11, 12.
Ark. Code Ann. § 23-39-404 — AR Code / Title 23 / Chapter 39 / Subchapter 4 / Section 23-39-404
Prohibited acts
Status: in_force

It shall be unlawful for a loan broker to: (1) Assess or collect an advance fee from a borrower to provide services as a loan broker; or (2) Make or use unfair, false, misleading, or deceptive representations or to omit any material fact in the offer or sale of the services of a loan broker, or to engage, directly or indirectly, in any act that operates or would operate as an unfair, false, misleading, or deceptive representation in his or her business dealings. Acts 1993, No. 140, § 2.

It shall be unlawful for a loan broker to:

(1) Assess or collect an advance fee from a borrower to provide services as a loan broker; or

(2) Make or use unfair, false, misleading, or deceptive representations or to omit any material fact in the offer or sale of the services of a loan broker, or to engage, directly or indirectly, in any act that operates or would operate as an unfair, false, misleading, or deceptive representation in his or her business dealings.

Acts 1993, No. 140, § 2.
Ark. Code Ann. § 23-39-401 — AR Code / Title 23 / Chapter 39 / Subchapter 4 / Section 23-39-401
Definitions
Status: in_force

For purposes of this subchapter, unless the context otherwise requires: (1) "Advance fee" means any consideration which is assessed or collected prior to the closing of a loan by a loan broker; (2) "Affiliate" means any person who, directly or indirectly, through one (1) or more intermediaries, controls, is controlled by, or is under common control with another person; (3) "Borrower" means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit; (4) "Closing of a loan" means completion of the final steps of the transaction, except for the payment of consideration for loan services provided, whereby the borrower has full access to and use of the benefits of the loan of money, a credit card, or a line of credit; (5) (A) "Loan broker" means any person not exempt under subdivision (5)(B) of this section who: (i) For or in expectation of consideration arranges, attempts to arrange, or offers to fund a loan of money, a credit card, or a line of credit; (ii) For or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature; (iii) Acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or (iv) Holds himself or herself out as a loan broker. (B) The following persons or entities shall not be considered loan brokers under subdivision (5)(A) of this section: (i) If licensed by and subject to regulation or supervision of any agency, commission, or department of the United States or of the State of Arkansas, and if engaged in the permitted activity granted pursuant to their license, permit, or registration or with express written authority for the activity from the regulatory or supervising agency: (a) Bank; (b) Savings and loan association; (c) Trust company; (d) Credit union; (e) Investment company; (f) Industrial loan company; (g) Securities broker-dealer, agent, or investment adviser; (h) Real estate broker or sales associate; (i) Attorney; (j) Federal Housing Administration or Department of Veterans Affairs approved lender; (k) Credit card company; (l) Mortgage loan company; (m) Mortgage loan broker; (n) Public utility; (o) Insurance company or agent; or (p) Motor vehicle manufacturer or dealer; (ii) Subsidiaries of licensed or chartered consumer loan companies, banks, or savings and loan associations are not loan brokers; (iii) A person extending or arranging credit, or offering to extend or arrange credit, to a partnership or corporation exclusively for commercial or business purposes; (iv) A depository financial institution chartered or licensed by an agency, commission, or department of another state, if the funds on deposit with the institution are insured by the Federal Deposit Insurance Corporation; (v) An affiliate of a person listed in subdivision (5)(B)(iii) of this section; or (vi) A bona fide seller or lessor of goods, services, or interests in real estate in a transaction in which the seller or lessor extends, arranges, or offers to extend or arrange credit that is to be used exclusively for financing the purchase or lease or for services performed by an independent third party directly related to the purchase or lease. A transaction shall not be exempt under this subdivision (5)(B)(vi) if the purchaser or lessee receives, or is to receive, a cash advance or consolidation loan in addition to the financing; and (6) "Principal" means any officer, director, partner, joint venturer, branch manager, or other person with similar managerial or supervisory responsibilities for a loan broker. Acts 1993, No. 140, § 1; 1995, No. 598, § 1.

For purposes of this subchapter, unless the context otherwise requires:

(1) "Advance fee" means any consideration which is assessed or collected prior to the closing of a loan by a loan broker;

(2) "Affiliate" means any person who, directly or indirectly, through one (1) or more intermediaries, controls, is controlled by, or is under common control with another person;

(3) "Borrower" means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit;

(4) "Closing of a loan" means completion of the final steps of the transaction, except for the payment of consideration for loan services provided, whereby the borrower has full access to and use of the benefits of the loan of money, a credit card, or a line of credit;

(5) (A) "Loan broker" means any person not exempt under subdivision (5)(B) of this section who: (i) For or in expectation of consideration arranges, attempts to arrange, or offers to fund a loan of money, a credit card, or a line of credit; (ii) For or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature; (iii) Acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or (iv) Holds himself or herself out as a loan broker. (B) The following persons or entities shall not be considered loan brokers under subdivision (5)(A) of this section: (i) If licensed by and subject to regulation or supervision of any agency, commission, or department of the United States or of the State of Arkansas, and if engaged in the permitted activity granted pursuant to their license, permit, or registration or with express written authority for the activity from the regulatory or supervising agency: (a) Bank; (b) Savings and loan association; (c) Trust company; (d) Credit union; (e) Investment company; (f) Industrial loan company; (g) Securities broker-dealer, agent, or investment adviser; (h) Real estate broker or sales associate; (i) Attorney; (j) Federal Housing Administration or Department of Veterans Affairs approved lender; (k) Credit card company; (l) Mortgage loan company; (m) Mortgage loan broker; (n) Public utility; (o) Insurance company or agent; or (p) Motor vehicle manufacturer or dealer; (ii) Subsidiaries of licensed or chartered consumer loan companies, banks, or savings and loan associations are not loan brokers; (iii) A person extending or arranging credit, or offering to extend or arrange credit, to a partnership or corporation exclusively for commercial or business purposes; (iv) A depository financial institution chartered or licensed by an agency, commission, or department of another state, if the funds on deposit with the institution are insured by the Federal Deposit Insurance Corporation; (v) An affiliate of a person listed in subdivision (5)(B)(iii) of this section; or (vi) A bona fide seller or lessor of goods, services, or interests in real estate in a transaction in which the seller or lessor extends, arranges, or offers to extend or arrange credit that is to be used exclusively for financing the purchase or lease or for services performed by an independent third party directly related to the purchase or lease. A transaction shall not be exempt under this subdivision (5)(B)(vi) if the purchaser or lessee receives, or is to receive, a cash advance or consolidation loan in addition to the financing; and

(A) "Loan broker" means any person not exempt under subdivision (5)(B) of this section who: (i) For or in expectation of consideration arranges, attempts to arrange, or offers to fund a loan of money, a credit card, or a line of credit; (ii) For or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature; (iii) Acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or (iv) Holds himself or herself out as a loan broker.

(i) For or in expectation of consideration arranges, attempts to arrange, or offers to fund a loan of money, a credit card, or a line of credit;

(ii) For or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature;

(iii) Acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or

(iv) Holds himself or herself out as a loan broker.

(B) The following persons or entities shall not be considered loan brokers under subdivision (5)(A) of this section: (i) If licensed by and subject to regulation or supervision of any agency, commission, or department of the United States or of the State of Arkansas, and if engaged in the permitted activity granted pursuant to their license, permit, or registration or with express written authority for the activity from the regulatory or supervising agency: (a) Bank; (b) Savings and loan association; (c) Trust company; (d) Credit union; (e) Investment company; (f) Industrial loan company; (g) Securities broker-dealer, agent, or investment adviser; (h) Real estate broker or sales associate; (i) Attorney; (j) Federal Housing Administration or Department of Veterans Affairs approved lender; (k) Credit card company; (l) Mortgage loan company; (m) Mortgage loan broker; (n) Public utility; (o) Insurance company or agent; or (p) Motor vehicle manufacturer or dealer; (ii) Subsidiaries of licensed or chartered consumer loan companies, banks, or savings and loan associations are not loan brokers; (iii) A person extending or arranging credit, or offering to extend or arrange credit, to a partnership or corporation exclusively for commercial or business purposes; (iv) A depository financial institution chartered or licensed by an agency, commission, or department of another state, if the funds on deposit with the institution are insured by the Federal Deposit Insurance Corporation; (v) An affiliate of a person listed in subdivision (5)(B)(iii) of this section; or (vi) A bona fide seller or lessor of goods, services, or interests in real estate in a transaction in which the seller or lessor extends, arranges, or offers to extend or arrange credit that is to be used exclusively for financing the purchase or lease or for services performed by an independent third party directly related to the purchase or lease. A transaction shall not be exempt under this subdivision (5)(B)(vi) if the purchaser or lessee receives, or is to receive, a cash advance or consolidation loan in addition to the financing; and

(i) If licensed by and subject to regulation or supervision of any agency, commission, or department of the United States or of the State of Arkansas, and if engaged in the permitted activity granted pursuant to their license, permit, or registration or with express written authority for the activity from the regulatory or supervising agency: (a) Bank; (b) Savings and loan association; (c) Trust company; (d) Credit union; (e) Investment company; (f) Industrial loan company; (g) Securities broker-dealer, agent, or investment adviser; (h) Real estate broker or sales associate; (i) Attorney; (j) Federal Housing Administration or Department of Veterans Affairs approved lender; (k) Credit card company; (l) Mortgage loan company; (m) Mortgage loan broker; (n) Public utility; (o) Insurance company or agent; or (p) Motor vehicle manufacturer or dealer;

(a) Bank;

(b) Savings and loan association;

(c) Trust company;

(d) Credit union;

(e) Investment company;

(f) Industrial loan company;

(g) Securities broker-dealer, agent, or investment adviser;

(h) Real estate broker or sales associate;

(i) Attorney;

(j) Federal Housing Administration or Department of Veterans Affairs approved lender;

(k) Credit card company;

(l) Mortgage loan company;

(m) Mortgage loan broker;

(n) Public utility;

(o) Insurance company or agent; or

(p) Motor vehicle manufacturer or dealer;

(ii) Subsidiaries of licensed or chartered consumer loan companies, banks, or savings and loan associations are not loan brokers;

(iii) A person extending or arranging credit, or offering to extend or arrange credit, to a partnership or corporation exclusively for commercial or business purposes;

(iv) A depository financial institution chartered or licensed by an agency, commission, or department of another state, if the funds on deposit with the institution are insured by the Federal Deposit Insurance Corporation;

(v) An affiliate of a person listed in subdivision (5)(B)(iii) of this section; or

(vi) A bona fide seller or lessor of goods, services, or interests in real estate in a transaction in which the seller or lessor extends, arranges, or offers to extend or arrange credit that is to be used exclusively for financing the purchase or lease or for services performed by an independent third party directly related to the purchase or lease. A transaction shall not be exempt under this subdivision (5)(B)(vi) if the purchaser or lessee receives, or is to receive, a cash advance or consolidation loan in addition to the financing; and

(6) "Principal" means any officer, director, partner, joint venturer, branch manager, or other person with similar managerial or supervisory responsibilities for a loan broker.

Acts 1993, No. 140, § 1; 1995, No. 598, § 1.
Ark. Code Ann. § 23-18-1101 — AR Code / Title 23 / Chapter 18 / Subchapter 11 / Section 23-18-1101
Title
Status: in_force

This subchapter shall be known and may be cited as the "Arkansas Affordable Energy Act". Added by Act 2021, No. 694,§ 1, eff. 7/28/2021.

This subchapter shall be known and may be cited as the "Arkansas Affordable Energy Act".

Added by Act 2021, No. 694,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 23-37-507 — AR Code / Title 23 / Chapter 37 / Subchapter 5 / Section 23-37-507
Damages for refusal to pay withdrawal request
Status: in_force

In the event an association wrongfully and without legal right refuses to pay a withdrawal request for a savings account, the owner of the savings account shall be entitled to recover damages from the association equal to interest at the legal rate prescribed by the laws of this state from the date the withdrawal request was refused. The owner shall not be entitled to recover from the association any special damages of whatever kind or nature. Acts 1963, No. 227, § 46; A.S.A. 1947, § 67-1846.

In the event an association wrongfully and without legal right refuses to pay a withdrawal request for a savings account, the owner of the savings account shall be entitled to recover damages from the association equal to interest at the legal rate prescribed by the laws of this state from the date the withdrawal request was refused. The owner shall not be entitled to recover from the association any special damages of whatever kind or nature.

Acts 1963, No. 227, § 46; A.S.A. 1947, § 67-1846.
Ark. Code Ann. § 23-13-227 — AR Code / Title 23 / Chapter 13 / Subchapter 2 / Section 23-13-227
Certificates and permits - Security for the protection of the public
Status: in_force

(a) No certificate or permit shall be issued to a motor carrier or remain in force unless the carrier complies with such reasonable rules as the Arkansas Department of Transportation shall prescribe governing the filing and approval of surety bonds, policies of insurance, qualification as a self-insurer or other securities or agreements in such reasonable amount as the department may require, conditioned to pay, within the amount of the surety bonds, policies of insurance, qualifications as a self-insurer or other securities or agreements, any final judgment recovered against the motor carrier for bodily injuries to or the death of any person resulting from the negligent operation, maintenance, or use of motor vehicles under the certificate or permit or for loss or damage to the property of others. (b) (1) In its discretion and under such rules as it shall prescribe the department may require any such common carrier to file a surety bond, policies of insurance, qualifications as a self-insurer, or other securities or agreements, in a sum to be determined by the department, to be conditioned upon the carrier making compensation to shippers or consignees for all property belonging to shippers or consignees and coming into the possession of such carriers in connection with its transportation service. (2) Any carrier which may be required by law to compensate a shipper or consignee for any loss, damage, or default for which a connecting motor common carrier is legally responsible shall be subrogated to the rights of the shipper or consignee under any such bond, policies, or insurance or other securities or agreements, to the extent of the sum so paid, plus any court costs and reasonable attorney's fees paid by the carrier in defending any action brought thereon by the shipper or consignee. (c) The reasonable rules of the department authorized by this section shall conform as nearly as may be consistent with the public interest to those rules made by the United States Surface Transportation Board from time to time with respect to surety for the protection of the public by motor carriers engaged in interstate or foreign commerce. (d) Any motor carrier who has qualified as a self-insurer in accordance with the rules of the United States Surface Transportation Board governing motor carriers engaged in interstate or foreign commerce shall be prima facie deemed qualified as a self-insurer in the State of Arkansas. (e) In any action against any motor carrier operating under the provisions of this subchapter, whether in law or equity, the insurer, insurance company, or obligor in any policy of insurance or bond given by the carrier in compliance with this section shall not be joined as a party to the suit and shall not be a proper party thereto. (f) Upon any motor carrier's failure to pay any final judgment rendered against it, the judgment creditor may maintain an action in any court of competent jurisdiction against the insurer, insurance company, or obligor in any policy of insurance, or bond, or obligation, filed under this section, to compel payment of the judgment. Amended by Act 2019, No. 315,§ 2427, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 202, eff. 8/1/2017. Acts 1955, No. 397, § 15; A.S.A. 1947, § 73-1768.

(a) No certificate or permit shall be issued to a motor carrier or remain in force unless the carrier complies with such reasonable rules as the Arkansas Department of Transportation shall prescribe governing the filing and approval of surety bonds, policies of insurance, qualification as a self-insurer or other securities or agreements in such reasonable amount as the department may require, conditioned to pay, within the amount of the surety bonds, policies of insurance, qualifications as a self-insurer or other securities or agreements, any final judgment recovered against the motor carrier for bodily injuries to or the death of any person resulting from the negligent operation, maintenance, or use of motor vehicles under the certificate or permit or for loss or damage to the property of others.

(b) (1) In its discretion and under such rules as it shall prescribe the department may require any such common carrier to file a surety bond, policies of insurance, qualifications as a self-insurer, or other securities or agreements, in a sum to be determined by the department, to be conditioned upon the carrier making compensation to shippers or consignees for all property belonging to shippers or consignees and coming into the possession of such carriers in connection with its transportation service. (2) Any carrier which may be required by law to compensate a shipper or consignee for any loss, damage, or default for which a connecting motor common carrier is legally responsible shall be subrogated to the rights of the shipper or consignee under any such bond, policies, or insurance or other securities or agreements, to the extent of the sum so paid, plus any court costs and reasonable attorney's fees paid by the carrier in defending any action brought thereon by the shipper or consignee.

(1) In its discretion and under such rules as it shall prescribe the department may require any such common carrier to file a surety bond, policies of insurance, qualifications as a self-insurer, or other securities or agreements, in a sum to be determined by the department, to be conditioned upon the carrier making compensation to shippers or consignees for all property belonging to shippers or consignees and coming into the possession of such carriers in connection with its transportation service.

(2) Any carrier which may be required by law to compensate a shipper or consignee for any loss, damage, or default for which a connecting motor common carrier is legally responsible shall be subrogated to the rights of the shipper or consignee under any such bond, policies, or insurance or other securities or agreements, to the extent of the sum so paid, plus any court costs and reasonable attorney's fees paid by the carrier in defending any action brought thereon by the shipper or consignee.

(c) The reasonable rules of the department authorized by this section shall conform as nearly as may be consistent with the public interest to those rules made by the United States Surface Transportation Board from time to time with respect to surety for the protection of the public by motor carriers engaged in interstate or foreign commerce.

(d) Any motor carrier who has qualified as a self-insurer in accordance with the rules of the United States Surface Transportation Board governing motor carriers engaged in interstate or foreign commerce shall be prima facie deemed qualified as a self-insurer in the State of Arkansas.

(e) In any action against any motor carrier operating under the provisions of this subchapter, whether in law or equity, the insurer, insurance company, or obligor in any policy of insurance or bond given by the carrier in compliance with this section shall not be joined as a party to the suit and shall not be a proper party thereto.

(f) Upon any motor carrier's failure to pay any final judgment rendered against it, the judgment creditor may maintain an action in any court of competent jurisdiction against the insurer, insurance company, or obligor in any policy of insurance, or bond, or obligation, filed under this section, to compel payment of the judgment.

Amended by Act 2019, No. 315,§ 2427, eff. 7/24/2019.

Amended by Act 2017, No. 707,§ 202, eff. 8/1/2017.

Acts 1955, No. 397, § 15; A.S.A. 1947, § 73-1768.
Ark. Code Ann. § 23-51-139 — AR Code / Title 23 / Chapter 51 / Section 23-51-139
Civil enforcement - Criminal penalties
Status: in_force

(a) The Bank Commissioner may bring any appropriate civil action against any person who the commissioner believes has committed or is about to commit a violation of this chapter or a rule or order of the commissioner pertaining to this chapter. (b) A person who knowingly fails or refuses to file the application required by § 23-51-135 commits an offense. An offense under this subsection is a Class A misdemeanor. Amended by Act 2019, No. 315,§ 2592, eff. 7/24/2019. Acts 1997, No. 940, § 39.

(a) The Bank Commissioner may bring any appropriate civil action against any person who the commissioner believes has committed or is about to commit a violation of this chapter or a rule or order of the commissioner pertaining to this chapter.

(b) A person who knowingly fails or refuses to file the application required by § 23-51-135 commits an offense. An offense under this subsection is a Class A misdemeanor.

Amended by Act 2019, No. 315,§ 2592, eff. 7/24/2019.

Acts 1997, No. 940, § 39.
Ark. Code Ann. § 23-64-215 — AR Code / Title 23 / Chapter 64 / Subchapter 2 / Section 23-64-215
Continuance of license
Status: in_force

(a) Unless the license of an insurance adjuster or an insurance consultant is not renewed, expires, is suspended, is revoked, or is terminated, the licensee may continue the license by: (1) Paying annually or biennially the continuation of license fee prescribed by rule of the Insurance Commissioner; and (2) Complying with all other rules of the commissioner for continuing the license. (b) (1) A licensee who allows his or her license to lapse may reinstate the license within twelve (12) months after the due date of the continuation of license fee without the necessity of passing a written examination. (2) However, a penalty in the amount of double the unpaid continuation of license fee shall be required for any continuation of license fee received after the due date. Acts 1959, No. 148, § 177; 1973, No. 66, § 5; A.S.A. 1947, § 66-2834; Acts 1987, No. 622, § 18; 1993, No. 901, §§ 24, 25; 1997, No. 1004, § 1; 1999, No. 657, § 7; 2001, No. 580, § 18; 2009, No. 726, § 28.

(a) Unless the license of an insurance adjuster or an insurance consultant is not renewed, expires, is suspended, is revoked, or is terminated, the licensee may continue the license by: (1) Paying annually or biennially the continuation of license fee prescribed by rule of the Insurance Commissioner; and (2) Complying with all other rules of the commissioner for continuing the license.

(1) Paying annually or biennially the continuation of license fee prescribed by rule of the Insurance Commissioner; and

(2) Complying with all other rules of the commissioner for continuing the license.

(b) (1) A licensee who allows his or her license to lapse may reinstate the license within twelve (12) months after the due date of the continuation of license fee without the necessity of passing a written examination. (2) However, a penalty in the amount of double the unpaid continuation of license fee shall be required for any continuation of license fee received after the due date.

(1) A licensee who allows his or her license to lapse may reinstate the license within twelve (12) months after the due date of the continuation of license fee without the necessity of passing a written examination.

(2) However, a penalty in the amount of double the unpaid continuation of license fee shall be required for any continuation of license fee received after the due date.

Acts 1959, No. 148, § 177; 1973, No. 66, § 5; A.S.A. 1947, § 66-2834; Acts 1987, No. 622, § 18; 1993, No. 901, §§ 24, 25; 1997, No. 1004, § 1; 1999, No. 657, § 7; 2001, No. 580, § 18; 2009, No. 726, § 28.
Ark. Code Ann. § 23-115-1101 — AR Code / Title 23 / Chapter 115 / Subchapter 11 / Section 23-115-1101
Duties of Legislative Council
Status: in_force

(a) The Legislative Council shall: (1) Review whether expenditures of lottery proceeds have been in accordance with this chapter; (2) Review and approve proposed rules of the Office of the Arkansas Lottery under § 10-3-309 ; (3) (A) Review proposed contracts of twenty-five thousand dollars ($25,000) or more before the execution of the contracts. (B) The office shall provide a list of all contracts less than twenty-five thousand dollars ($25,000) to the Legislative Council on a monthly basis; (4) Review reports filed with the Legislative Council by the Division of Higher Education, including without limitation reports filed under §§ 6-85-205 and 6-85-220 ; (5) Perform its duties under § 6-85-220 ; and (6) Study other lottery matters as the Legislative Council considers necessary to fulfill its mandate. (b) (1) Annually by December 15, the Legislative Council shall provide to the General Assembly: (A) Any analysis or findings resulting from its activities under this section that the Legislative Council deems relevant; and (B) Its recommendations for any changes to the: (i) Scholarship award amounts; (ii) Number or type of scholarships; and (iii) Scholarship eligibility requirements. (2) The Legislative Council may make interim reports to the General Assembly regarding the expenditure of net lottery revenues. (c) (1) During a regular, fiscal, or extraordinary session of the General Assembly, the Joint Budget Committee shall perform the functions assigned to the Legislative Council under: (A) This chapter; (B) Section 6-60-902 ; (C) Section 6-60-903 ; (D) Section 6-85-205 ; (E) Section 6-85-212 ; (F) Section 6-85-216 ; (G) Section 6-85-219 ; (H) Section 6-85-220 ; and (I) Section 19-10-212 . (2) This subsection does not limit the authority of the Legislative Council to meet during a recess as authorized by § 10-2-223 or § 10-3-211 . (d) The Legislative Council and the Joint Budget Committee may: (1) Establish or utilize one (1) or more subcommittees to assist in their duties under this chapter; (2) Assign information filed with the Legislative Council under this subchapter to one (1) or more subcommittees of the Legislative Council, including without limitation a subcommittee created under subdivision (d)(1) of this section; and (3) Delegate their duties under this chapter to one (1) or more subcommittees of the Legislative Council, subject to the final approval of the Legislative Council or the Joint Budget Committee. Amended by Act 2019, No. 910,§ 2357, eff. 7/1/2019. Amended by Act 2015, No. 1258,§ 37, eff. 7/22/2015. Amended by Act 2015, No. 218,§ 25, eff. 2/26/2015. Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, §§ 47, 48; 2010, No. 265, § 35; 2010, No. 294, § 35; 2011, No. 207, § 30.

(a) The Legislative Council shall: (1) Review whether expenditures of lottery proceeds have been in accordance with this chapter; (2) Review and approve proposed rules of the Office of the Arkansas Lottery under § 10-3-309 ; (3) (A) Review proposed contracts of twenty-five thousand dollars ($25,000) or more before the execution of the contracts. (B) The office shall provide a list of all contracts less than twenty-five thousand dollars ($25,000) to the Legislative Council on a monthly basis; (4) Review reports filed with the Legislative Council by the Division of Higher Education, including without limitation reports filed under §§ 6-85-205 and 6-85-220 ; (5) Perform its duties under § 6-85-220 ; and (6) Study other lottery matters as the Legislative Council considers necessary to fulfill its mandate.

(1) Review whether expenditures of lottery proceeds have been in accordance with this chapter;

(2) Review and approve proposed rules of the Office of the Arkansas Lottery under § 10-3-309 ;

(3) (A) Review proposed contracts of twenty-five thousand dollars ($25,000) or more before the execution of the contracts. (B) The office shall provide a list of all contracts less than twenty-five thousand dollars ($25,000) to the Legislative Council on a monthly basis;

(A) Review proposed contracts of twenty-five thousand dollars ($25,000) or more before the execution of the contracts.

(B) The office shall provide a list of all contracts less than twenty-five thousand dollars ($25,000) to the Legislative Council on a monthly basis;

(4) Review reports filed with the Legislative Council by the Division of Higher Education, including without limitation reports filed under §§ 6-85-205 and 6-85-220 ;

(5) Perform its duties under § 6-85-220 ; and

(6) Study other lottery matters as the Legislative Council considers necessary to fulfill its mandate.

(b) (1) Annually by December 15, the Legislative Council shall provide to the General Assembly: (A) Any analysis or findings resulting from its activities under this section that the Legislative Council deems relevant; and (B) Its recommendations for any changes to the: (i) Scholarship award amounts; (ii) Number or type of scholarships; and (iii) Scholarship eligibility requirements. (2) The Legislative Council may make interim reports to the General Assembly regarding the expenditure of net lottery revenues.

(1) Annually by December 15, the Legislative Council shall provide to the General Assembly: (A) Any analysis or findings resulting from its activities under this section that the Legislative Council deems relevant; and (B) Its recommendations for any changes to the: (i) Scholarship award amounts; (ii) Number or type of scholarships; and (iii) Scholarship eligibility requirements.

(A) Any analysis or findings resulting from its activities under this section that the Legislative Council deems relevant; and

(B) Its recommendations for any changes to the: (i) Scholarship award amounts; (ii) Number or type of scholarships; and (iii) Scholarship eligibility requirements.

(i) Scholarship award amounts;

(ii) Number or type of scholarships; and

(iii) Scholarship eligibility requirements.

(2) The Legislative Council may make interim reports to the General Assembly regarding the expenditure of net lottery revenues.

(c) (1) During a regular, fiscal, or extraordinary session of the General Assembly, the Joint Budget Committee shall perform the functions assigned to the Legislative Council under: (A) This chapter; (B) Section 6-60-902 ; (C) Section 6-60-903 ; (D) Section 6-85-205 ; (E) Section 6-85-212 ; (F) Section 6-85-216 ; (G) Section 6-85-219 ; (H) Section 6-85-220 ; and (I) Section 19-10-212 . (2) This subsection does not limit the authority of the Legislative Council to meet during a recess as authorized by § 10-2-223 or § 10-3-211 .

(1) During a regular, fiscal, or extraordinary session of the General Assembly, the Joint Budget Committee shall perform the functions assigned to the Legislative Council under: (A) This chapter; (B) Section 6-60-902 ; (C) Section 6-60-903 ; (D) Section 6-85-205 ; (E) Section 6-85-212 ; (F) Section 6-85-216 ; (G) Section 6-85-219 ; (H) Section 6-85-220 ; and (I) Section 19-10-212 .

(A) This chapter;

(B) Section 6-60-902 ;

(C) Section 6-60-903 ;

(D) Section 6-85-205 ;

(E) Section 6-85-212 ;

(F) Section 6-85-216 ;

(G) Section 6-85-219 ;

(H) Section 6-85-220 ; and

(I) Section 19-10-212 .

(2) This subsection does not limit the authority of the Legislative Council to meet during a recess as authorized by § 10-2-223 or § 10-3-211 .

(d) The Legislative Council and the Joint Budget Committee may: (1) Establish or utilize one (1) or more subcommittees to assist in their duties under this chapter; (2) Assign information filed with the Legislative Council under this subchapter to one (1) or more subcommittees of the Legislative Council, including without limitation a subcommittee created under subdivision (d)(1) of this section; and (3) Delegate their duties under this chapter to one (1) or more subcommittees of the Legislative Council, subject to the final approval of the Legislative Council or the Joint Budget Committee.

(1) Establish or utilize one (1) or more subcommittees to assist in their duties under this chapter;

(2) Assign information filed with the Legislative Council under this subchapter to one (1) or more subcommittees of the Legislative Council, including without limitation a subcommittee created under subdivision (d)(1) of this section; and

(3) Delegate their duties under this chapter to one (1) or more subcommittees of the Legislative Council, subject to the final approval of the Legislative Council or the Joint Budget Committee.

Amended by Act 2019, No. 910,§ 2357, eff. 7/1/2019.

Amended by Act 2015, No. 1258,§ 37, eff. 7/22/2015.

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

Acts 2009, No. 605, § 1; 2009, No. 606, § 1; 2009, No. 1405, §§ 47, 48; 2010, No. 265, § 35; 2010, No. 294, § 35; 2011, No. 207, § 30.
Ark. Code Ann. § 23-39-513 — AR Code / Title 23 / Chapter 39 / Subchapter 5 / Section 23-39-513
Prohibited activities
Status: in_force

In addition to the other activities that are prohibited under this subchapter, it is unlawful for any person other than a person described in § 23-39-502(9)(B)(vi) in the course of any mortgage loan transaction or activity: (1) To misrepresent or conceal any material fact or make any false promise likely to influence, persuade, or induce an applicant for a mortgage loan or a borrower to take a mortgage loan or to pursue a course of misrepresentation through agents or otherwise; (2) To improperly refuse to issue a satisfaction or release of a mortgage; (3) To fail to account for or to deliver to any person any funds, documents, or other thing of value obtained in connection with a mortgage loan, including money provided by a borrower for a real estate appraisal or a credit report, that the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer is not entitled to retain; (4) To pay, receive, or collect, in whole or in part, any commission, fee, or other compensation for brokering a mortgage loan in violation of this subchapter, including a mortgage loan brokered or solicited by any unlicensed person other than an exempt person; (5) To advertise mortgage loans, including rates, margins, discounts, points, fees, commissions, or other material information without disclosing the lengths of the loans, whether the interest rates are fixed or adjustable, and any other material limitations on the loans; (6) To fail to disburse funds in accordance with a written commitment or agreement to make or service a mortgage loan; (7) In connection with the advertisement, solicitation, brokering, making, servicing, purchase, or sale of any mortgage loan, to engage in any transaction, practice, or course of business that: (A) Is not in good faith or fair dealing; (B) Is misleading or deceptive; or (C) Constitutes a fraud upon any person; (8) (A) To broker or make a residential mortgage loan that contains a penalty for prepayment if the prepayment is made after the expiration of the thirty-six-month period immediately following the date on which the loan was made. (B) A penalty for prepayment under subdivision (8)(A) of this section made within the thirty-six-month period shall not exceed any of the following amounts: (i) Three percent (3%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made; (ii) Two percent (2%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or (iii) One percent (1%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the third twelve-month period immediately following the date the loan was made; (9) (A) To influence or attempt to influence through coercion, extortion, or bribery the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan. (B) This subdivision (9) does not prohibit a mortgage broker or mortgage banker from asking the appraiser to do one (1) or more of the following: (i) Consider additional appropriate property information; (ii) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or (iii) Correct errors in the appraisal report; (10) To broker or make a refinancing of a residential mortgage loan when the refinancing charges additional points and fees, within a twelve-month period after the original loan agreement was signed, unless the refinancing results in a reasonable, tangible net benefit to the borrower, considering all of the circumstances surrounding the refinancing; (11) To broker, make, or service a mortgage loan in violation of any federal law or any law of this state; (12) To engage in practices that are dishonest or unethical in the mortgage industry; (13) To unreasonably fail to deliver or provide information or documents promptly to the commissioner upon written request or to knowingly withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other information; (14) To unreasonably fail to supervise the branches, loan officers, transitional loan officers, and employees of the mortgage broker, mortgage banker, or mortgage servicer; (15) To fail to make payments in a timely manner from an escrow account held for the borrower to pay insurance, taxes, and other charges concerning the mortgage property without good cause, and the failure to pay results in late penalties or other negative activity; (16) To place hazard, homeowners, or flood insurance on a mortgaged property: (A) Without providing prior written notice to the borrower; (B) If the mortgage servicer knows or has reason to know that adequate insurance coverage already exists; or (C) In an amount that unreasonably exceeds the value of the insurable improvements or the last-known coverage amount or policy limits of insurance; or (17) (A) To fail to refund to the borrower unearned premiums paid by or charged to a borrower for hazard, homeowners, or flood insurance placed by a mortgage banker or mortgage servicer if reasonable proof is available or provided that the borrower had or obtained coverage in effect resulting in the unnecessary placement of forced insurance. (B) The borrower shall receive a refund of excess premium funds taken from the borrower when reasonable proof is provided within twelve (12) months of the forced placement. Amended by Act 2019, No. 200,§ 23, eff. 7/24/2019. Amended by Act 2019, No. 200,§ 22, eff. 7/24/2019. Amended by Act 2013, No. 1167,§ 5, eff. 8/16/2013. Acts 2003, No. 554, § 1; 2003 (2nd Ex. Sess.), No. 26, § 2; 2005, No. 1679, § 3; 2007, No. 748, § 8; 2009, No. 164, § 11; 2009, No. 731, § 25; 2011, No. 720, § 1; 2011, No. 894, §§ 13 - 15.

In addition to the other activities that are prohibited under this subchapter, it is unlawful for any person other than a person described in § 23-39-502(9)(B)(vi) in the course of any mortgage loan transaction or activity:

(1) To misrepresent or conceal any material fact or make any false promise likely to influence, persuade, or induce an applicant for a mortgage loan or a borrower to take a mortgage loan or to pursue a course of misrepresentation through agents or otherwise;

(2) To improperly refuse to issue a satisfaction or release of a mortgage;

(3) To fail to account for or to deliver to any person any funds, documents, or other thing of value obtained in connection with a mortgage loan, including money provided by a borrower for a real estate appraisal or a credit report, that the mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer is not entitled to retain;

(4) To pay, receive, or collect, in whole or in part, any commission, fee, or other compensation for brokering a mortgage loan in violation of this subchapter, including a mortgage loan brokered or solicited by any unlicensed person other than an exempt person;

(5) To advertise mortgage loans, including rates, margins, discounts, points, fees, commissions, or other material information without disclosing the lengths of the loans, whether the interest rates are fixed or adjustable, and any other material limitations on the loans;

(6) To fail to disburse funds in accordance with a written commitment or agreement to make or service a mortgage loan;

(7) In connection with the advertisement, solicitation, brokering, making, servicing, purchase, or sale of any mortgage loan, to engage in any transaction, practice, or course of business that: (A) Is not in good faith or fair dealing; (B) Is misleading or deceptive; or (C) Constitutes a fraud upon any person;

(A) Is not in good faith or fair dealing;

(B) Is misleading or deceptive; or

(C) Constitutes a fraud upon any person;

(8) (A) To broker or make a residential mortgage loan that contains a penalty for prepayment if the prepayment is made after the expiration of the thirty-six-month period immediately following the date on which the loan was made. (B) A penalty for prepayment under subdivision (8)(A) of this section made within the thirty-six-month period shall not exceed any of the following amounts: (i) Three percent (3%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made; (ii) Two percent (2%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or (iii) One percent (1%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the third twelve-month period immediately following the date the loan was made;

(A) To broker or make a residential mortgage loan that contains a penalty for prepayment if the prepayment is made after the expiration of the thirty-six-month period immediately following the date on which the loan was made.

(B) A penalty for prepayment under subdivision (8)(A) of this section made within the thirty-six-month period shall not exceed any of the following amounts: (i) Three percent (3%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made; (ii) Two percent (2%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or (iii) One percent (1%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the third twelve-month period immediately following the date the loan was made;

(i) Three percent (3%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the first twelve-month period immediately following the date the loan was made;

(ii) Two percent (2%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the second twelve-month period immediately following the date the loan was made; or

(iii) One percent (1%) of the principal loan amount remaining on the date of prepayment if the prepayment is made within the third twelve-month period immediately following the date the loan was made;

(9) (A) To influence or attempt to influence through coercion, extortion, or bribery the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan. (B) This subdivision (9) does not prohibit a mortgage broker or mortgage banker from asking the appraiser to do one (1) or more of the following: (i) Consider additional appropriate property information; (ii) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or (iii) Correct errors in the appraisal report;

(A) To influence or attempt to influence through coercion, extortion, or bribery the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan.

(B) This subdivision (9) does not prohibit a mortgage broker or mortgage banker from asking the appraiser to do one (1) or more of the following: (i) Consider additional appropriate property information; (ii) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or (iii) Correct errors in the appraisal report;

(i) Consider additional appropriate property information;

(ii) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or

(iii) Correct errors in the appraisal report;

(10) To broker or make a refinancing of a residential mortgage loan when the refinancing charges additional points and fees, within a twelve-month period after the original loan agreement was signed, unless the refinancing results in a reasonable, tangible net benefit to the borrower, considering all of the circumstances surrounding the refinancing;

(11) To broker, make, or service a mortgage loan in violation of any federal law or any law of this state;

(12) To engage in practices that are dishonest or unethical in the mortgage industry;

(13) To unreasonably fail to deliver or provide information or documents promptly to the commissioner upon written request or to knowingly withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other information;

(14) To unreasonably fail to supervise the branches, loan officers, transitional loan officers, and employees of the mortgage broker, mortgage banker, or mortgage servicer;

(15) To fail to make payments in a timely manner from an escrow account held for the borrower to pay insurance, taxes, and other charges concerning the mortgage property without good cause, and the failure to pay results in late penalties or other negative activity;

(16) To place hazard, homeowners, or flood insurance on a mortgaged property: (A) Without providing prior written notice to the borrower; (B) If the mortgage servicer knows or has reason to know that adequate insurance coverage already exists; or (C) In an amount that unreasonably exceeds the value of the insurable improvements or the last-known coverage amount or policy limits of insurance; or

(A) Without providing prior written notice to the borrower;

(B) If the mortgage servicer knows or has reason to know that adequate insurance coverage already exists; or

(C) In an amount that unreasonably exceeds the value of the insurable improvements or the last-known coverage amount or policy limits of insurance; or

(17) (A) To fail to refund to the borrower unearned premiums paid by or charged to a borrower for hazard, homeowners, or flood insurance placed by a mortgage banker or mortgage servicer if reasonable proof is available or provided that the borrower had or obtained coverage in effect resulting in the unnecessary placement of forced insurance. (B) The borrower shall receive a refund of excess premium funds taken from the borrower when reasonable proof is provided within twelve (12) months of the forced placement.

(A) To fail to refund to the borrower unearned premiums paid by or charged to a borrower for hazard, homeowners, or flood insurance placed by a mortgage banker or mortgage servicer if reasonable proof is available or provided that the borrower had or obtained coverage in effect resulting in the unnecessary placement of forced insurance.

(B) The borrower shall receive a refund of excess premium funds taken from the borrower when reasonable proof is provided within twelve (12) months of the forced placement.

Amended by Act 2019, No. 200,§ 23, eff. 7/24/2019.

Amended by Act 2019, No. 200,§ 22, eff. 7/24/2019.

Amended by Act 2013, No. 1167,§ 5, eff. 8/16/2013.

Acts 2003, No. 554, § 1; 2003 (2nd Ex. Sess.), No. 26, § 2; 2005, No. 1679, § 3; 2007, No. 748, § 8; 2009, No. 164, § 11; 2009, No. 731, § 25; 2011, No. 720, § 1; 2011, No. 894, §§ 13 - 15.
Ark. Code Ann. § 23-64-405 — AR Code / Title 23 / Chapter 64 / Subchapter 4 / Section 23-64-405
Reporting requirements
Status: in_force

(a) The insurer shall have on file an independent financial examination, in a form acceptable to the Insurance Commissioner, of each managing general agent with which it has done business. (b) If a managing general agent establishes loss reserves, the insurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the managing general agent. This is in addition to any other required loss reserve certification. (c) The insurer shall periodically, and not less often than semiannually, conduct an on-site review of the underwriting and claims processing operations of the managing general agent. (d) Binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer, who shall not be affiliated with the managing general agent. (e) (1) Within thirty (30) days of entering into or termination of a contract with a managing general agent, the insurer shall provide written notification of such appointment or termination to the commissioner. (2) Notices of appointment of a managing general agent shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act, and any other information the commissioner may request. (f) (1) An insurer shall review its books and records each quarter to determine if any agent has become, by operation of § 23-64-402(c) , a managing general agent as defined in § 23-64-402(c) . (2) If the insurer determines that an agent has become a managing general agent pursuant to § 23-64-402(c) , the insurer shall promptly notify the agent and the commissioner of such a determination, and the insurer and agent must fully comply with the provisions of this subchapter within thirty (30) days. (g) (1) An insurer shall not appoint to its board of directors an officer, director, employee, subagent, or controlling shareholder of its managing general agents. (2) This subsection does not apply to relationships governed by the Insurance Holding Company Regulatory Act, § 23-63-501 et seq. Acts 1993, No. 1094, § 1; 1997, No. 1004, § 1; 2001, No. 1566, § 12; 2009, No. 726, § 32.

(a) The insurer shall have on file an independent financial examination, in a form acceptable to the Insurance Commissioner, of each managing general agent with which it has done business.

(b) If a managing general agent establishes loss reserves, the insurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the managing general agent. This is in addition to any other required loss reserve certification.

(c) The insurer shall periodically, and not less often than semiannually, conduct an on-site review of the underwriting and claims processing operations of the managing general agent.

(d) Binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer, who shall not be affiliated with the managing general agent.

(e) (1) Within thirty (30) days of entering into or termination of a contract with a managing general agent, the insurer shall provide written notification of such appointment or termination to the commissioner. (2) Notices of appointment of a managing general agent shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act, and any other information the commissioner may request.

(1) Within thirty (30) days of entering into or termination of a contract with a managing general agent, the insurer shall provide written notification of such appointment or termination to the commissioner.

(2) Notices of appointment of a managing general agent shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act, and any other information the commissioner may request.

(f) (1) An insurer shall review its books and records each quarter to determine if any agent has become, by operation of § 23-64-402(c) , a managing general agent as defined in § 23-64-402(c) . (2) If the insurer determines that an agent has become a managing general agent pursuant to § 23-64-402(c) , the insurer shall promptly notify the agent and the commissioner of such a determination, and the insurer and agent must fully comply with the provisions of this subchapter within thirty (30) days.

(1) An insurer shall review its books and records each quarter to determine if any agent has become, by operation of § 23-64-402(c) , a managing general agent as defined in § 23-64-402(c) .

(2) If the insurer determines that an agent has become a managing general agent pursuant to § 23-64-402(c) , the insurer shall promptly notify the agent and the commissioner of such a determination, and the insurer and agent must fully comply with the provisions of this subchapter within thirty (30) days.

(g) (1) An insurer shall not appoint to its board of directors an officer, director, employee, subagent, or controlling shareholder of its managing general agents. (2) This subsection does not apply to relationships governed by the Insurance Holding Company Regulatory Act, § 23-63-501 et seq.

(1) An insurer shall not appoint to its board of directors an officer, director, employee, subagent, or controlling shareholder of its managing general agents.

(2) This subsection does not apply to relationships governed by the Insurance Holding Company Regulatory Act, § 23-63-501 et seq.

Acts 1993, No. 1094, § 1; 1997, No. 1004, § 1; 2001, No. 1566, § 12; 2009, No. 726, § 32.
Ark. Code Ann. § 23-99-1302 — AR Code / Title 23 / Chapter 99 / Subchapter 13 / Section 23-99-1302
Assignment of benefits - Consent and notice required
Status: in_force

(a) An enrollee, through an assignment of benefits, may assign to a healthcare provider the enrollee's right to receive reimbursement for any healthcare service rendered by a healthcare provider regardless of whether the healthcare provider is a participating provider or an out-of-network provider. (b) (1) A healthcare provider that is provided an assignment of benefits by an enrollee under this section shall provide notice to the payor of the assignment of benefits with a claim for payment for healthcare services provided to an enrollee. (2) If the healthcare provider providing notice to the payor is an out-of-network provider, the notice shall be accompanied by a complete copy of the assignment of benefits bearing the enrollee's signature and the date the assignment was executed. (c) (1) A payor, upon receipt of the claim and notice of the assignment of benefits submitted by the healthcare provider, shall promptly remit payment of the claim directly to the healthcare provider. (2) When payment is made directly to the healthcare provider, the payor shall give written notice of the payment to an enrollee. (3) A violation of this subsection is: (A) An unfair trade practice under § 23-66-206 ; and (B) Subject to the Trade Practices Act, § 23-66-201 et seq. (d) (1) (A) If an enrollee executes an assignment of benefits and the healthcare provider submits notice of that assignment of benefits with the healthcare provider's claim for payment under this section, the claim is not paid if the payor remits payment of the claim to the enrollee rather than to the healthcare provider. (B) Notwithstanding the incorrect payment of a claim to an enrollee, a payor shall remain liable for remitting payment of the claim to the healthcare provider under the assignment of benefits. (2) If an assignment of benefits has been executed but the payor remits payment of the claim to the enrollee, then the payor shall remit payment of the claim to the healthcare provider under the assignment of benefits within ten (10) days of receiving notice of the incorrect payment from the healthcare provider. (e) For dental-only plans, an enrollee shall provide annual consent of an assignment of benefits to the healthcare provider and the healthcare insurer or payor. (f) For dental-only plans, before providing healthcare services to an enrollee, a healthcare provider shall provide a notice or statement to the enrollee informing the enrollee: (1) The healthcare provider is not a participating provider; (2) The healthcare provider may charge the enrollee for noncovered healthcare services; (3) The healthcare provider may charge the enrollee the balance bill for covered healthcare services; (4) An estimate of the cost of healthcare services that the healthcare provider will provide the enrollee; and (5) Any terms of payment that apply, including without limitation interest that the healthcare provider charges. Amended by Act 2023, No. 831,§ 2, eff. 1/1/2024. Added by Act 2019, No. 736,§ 1, eff. 7/24/2019.

(a) An enrollee, through an assignment of benefits, may assign to a healthcare provider the enrollee's right to receive reimbursement for any healthcare service rendered by a healthcare provider regardless of whether the healthcare provider is a participating provider or an out-of-network provider.

(b) (1) A healthcare provider that is provided an assignment of benefits by an enrollee under this section shall provide notice to the payor of the assignment of benefits with a claim for payment for healthcare services provided to an enrollee. (2) If the healthcare provider providing notice to the payor is an out-of-network provider, the notice shall be accompanied by a complete copy of the assignment of benefits bearing the enrollee's signature and the date the assignment was executed.

(1) A healthcare provider that is provided an assignment of benefits by an enrollee under this section shall provide notice to the payor of the assignment of benefits with a claim for payment for healthcare services provided to an enrollee.

(2) If the healthcare provider providing notice to the payor is an out-of-network provider, the notice shall be accompanied by a complete copy of the assignment of benefits bearing the enrollee's signature and the date the assignment was executed.

(c) (1) A payor, upon receipt of the claim and notice of the assignment of benefits submitted by the healthcare provider, shall promptly remit payment of the claim directly to the healthcare provider. (2) When payment is made directly to the healthcare provider, the payor shall give written notice of the payment to an enrollee. (3) A violation of this subsection is: (A) An unfair trade practice under § 23-66-206 ; and (B) Subject to the Trade Practices Act, § 23-66-201 et seq.

(1) A payor, upon receipt of the claim and notice of the assignment of benefits submitted by the healthcare provider, shall promptly remit payment of the claim directly to the healthcare provider.

(2) When payment is made directly to the healthcare provider, the payor shall give written notice of the payment to an enrollee.

(3) A violation of this subsection is: (A) An unfair trade practice under § 23-66-206 ; and (B) Subject to the Trade Practices Act, § 23-66-201 et seq.

(A) An unfair trade practice under § 23-66-206 ; and

(B) Subject to the Trade Practices Act, § 23-66-201 et seq.

(d) (1) (A) If an enrollee executes an assignment of benefits and the healthcare provider submits notice of that assignment of benefits with the healthcare provider's claim for payment under this section, the claim is not paid if the payor remits payment of the claim to the enrollee rather than to the healthcare provider. (B) Notwithstanding the incorrect payment of a claim to an enrollee, a payor shall remain liable for remitting payment of the claim to the healthcare provider under the assignment of benefits. (2) If an assignment of benefits has been executed but the payor remits payment of the claim to the enrollee, then the payor shall remit payment of the claim to the healthcare provider under the assignment of benefits within ten (10) days of receiving notice of the incorrect payment from the healthcare provider.

(1) (A) If an enrollee executes an assignment of benefits and the healthcare provider submits notice of that assignment of benefits with the healthcare provider's claim for payment under this section, the claim is not paid if the payor remits payment of the claim to the enrollee rather than to the healthcare provider. (B) Notwithstanding the incorrect payment of a claim to an enrollee, a payor shall remain liable for remitting payment of the claim to the healthcare provider under the assignment of benefits.

(A) If an enrollee executes an assignment of benefits and the healthcare provider submits notice of that assignment of benefits with the healthcare provider's claim for payment under this section, the claim is not paid if the payor remits payment of the claim to the enrollee rather than to the healthcare provider.

(B) Notwithstanding the incorrect payment of a claim to an enrollee, a payor shall remain liable for remitting payment of the claim to the healthcare provider under the assignment of benefits.

(2) If an assignment of benefits has been executed but the payor remits payment of the claim to the enrollee, then the payor shall remit payment of the claim to the healthcare provider under the assignment of benefits within ten (10) days of receiving notice of the incorrect payment from the healthcare provider.

(e) For dental-only plans, an enrollee shall provide annual consent of an assignment of benefits to the healthcare provider and the healthcare insurer or payor.

(f) For dental-only plans, before providing healthcare services to an enrollee, a healthcare provider shall provide a notice or statement to the enrollee informing the enrollee: (1) The healthcare provider is not a participating provider; (2) The healthcare provider may charge the enrollee for noncovered healthcare services; (3) The healthcare provider may charge the enrollee the balance bill for covered healthcare services; (4) An estimate of the cost of healthcare services that the healthcare provider will provide the enrollee; and (5) Any terms of payment that apply, including without limitation interest that the healthcare provider charges.

(1) The healthcare provider is not a participating provider;

(2) The healthcare provider may charge the enrollee for noncovered healthcare services;

(3) The healthcare provider may charge the enrollee the balance bill for covered healthcare services;

(4) An estimate of the cost of healthcare services that the healthcare provider will provide the enrollee; and

(5) Any terms of payment that apply, including without limitation interest that the healthcare provider charges.

Amended by Act 2023, No. 831,§ 2, eff. 1/1/2024.

Added by Act 2019, No. 736,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 23-17-517 — AR Code / Title 23 / Chapter 17 / Subchapter 5 / Section 23-17-517
Overlapping jurisdiction of management of right-of-way
Status: in_force

(a) In an area where more than one (1) authority may assert jurisdiction over a right-of-way, only the authority controlling the smallest geographic territory shall be authorized to adopt standards under § 23-17-508 , issue permits under § 23-17-510 , or require the payment of fees under § 23-17-511 . (b) This section does not restrict the authority of the Arkansas Department of Transportation over the location of a facility in a right-of-way controlled by the department. Added by Act 2019, No. 999,§ 1, eff. 9/1/2019. Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.

(a) In an area where more than one (1) authority may assert jurisdiction over a right-of-way, only the authority controlling the smallest geographic territory shall be authorized to adopt standards under § 23-17-508 , issue permits under § 23-17-510 , or require the payment of fees under § 23-17-511 .

(b) This section does not restrict the authority of the Arkansas Department of Transportation over the location of a facility in a right-of-way controlled by the department.

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

Added by Act 2019, No. 797,§ 1, eff. 9/1/2019.
Ark. Code Ann. § 23-102-109 — AR Code / Title 23 / Chapter 102 / Section 23-102-109
Market Assistance Program
Status: in_force

(a) The Board of the Arkansas Earthquake Authority shall develop and implement a Market Assistance Program to assist insureds in procuring residential earthquake coverage in the voluntary market. This shall be accomplished by providing those seeking residential earthquake coverage with a list of insurers participating in the program. (b) Insurers may participate in the program only after approval by the board. The board shall establish criteria which must be met by each program applicant for approval, including, but not limited to, the following minimum requirements: (1) All applicants for earthquake coverage which have underlying homeowner, farmowner, or dwelling fire insurance coverage, or meet other criteria as determined by the board and approved by the Insurance Commissioner, shall be accepted; (2) Residential earthquake coverage must be offered as monoline coverage; (3) The insurer-applicant is in sound financial condition; and (4) The insurer-applicant has retained or contracted with appropriate skilled personnel to service insureds. (c) By rule, the commissioner may restructure the program criteria set forth in subsection (b) of this section or any other component of the program if the commissioner finds that the program is not substantially accomplishing its objective of assisting residential insureds in procuring earthquake coverage in the voluntary market and that the restructuring will be in the best interests of Arkansas citizens. (d) Program insurers shall give ninety (90) days' notice in writing to the board and the commissioner of their withdrawal from the program. (e) Notwithstanding any provision in § 23-64-514 regarding agent appointments, all licensed property and casualty agents shall be authorized to access and place coverage through a program insurer. Amended by Act 2019, No. 315,§ 2812, eff. 7/24/2019. Acts 1999, No. 1343, § 9; 2001, No. 580, § 28.

(a) The Board of the Arkansas Earthquake Authority shall develop and implement a Market Assistance Program to assist insureds in procuring residential earthquake coverage in the voluntary market. This shall be accomplished by providing those seeking residential earthquake coverage with a list of insurers participating in the program.

(b) Insurers may participate in the program only after approval by the board. The board shall establish criteria which must be met by each program applicant for approval, including, but not limited to, the following minimum requirements: (1) All applicants for earthquake coverage which have underlying homeowner, farmowner, or dwelling fire insurance coverage, or meet other criteria as determined by the board and approved by the Insurance Commissioner, shall be accepted; (2) Residential earthquake coverage must be offered as monoline coverage; (3) The insurer-applicant is in sound financial condition; and (4) The insurer-applicant has retained or contracted with appropriate skilled personnel to service insureds.

(1) All applicants for earthquake coverage which have underlying homeowner, farmowner, or dwelling fire insurance coverage, or meet other criteria as determined by the board and approved by the Insurance Commissioner, shall be accepted;

(2) Residential earthquake coverage must be offered as monoline coverage;

(3) The insurer-applicant is in sound financial condition; and

(4) The insurer-applicant has retained or contracted with appropriate skilled personnel to service insureds.

(c) By rule, the commissioner may restructure the program criteria set forth in subsection (b) of this section or any other component of the program if the commissioner finds that the program is not substantially accomplishing its objective of assisting residential insureds in procuring earthquake coverage in the voluntary market and that the restructuring will be in the best interests of Arkansas citizens.

(d) Program insurers shall give ninety (90) days' notice in writing to the board and the commissioner of their withdrawal from the program.

(e) Notwithstanding any provision in § 23-64-514 regarding agent appointments, all licensed property and casualty agents shall be authorized to access and place coverage through a program insurer.

Amended by Act 2019, No. 315,§ 2812, eff. 7/24/2019.

Acts 1999, No. 1343, § 9; 2001, No. 580, § 28.
Ark. Code Ann. § 23-17-418 — AR Code / Title 23 / Chapter 17 / Subchapter 4 / Section 23-17-418
Arkansas High Cost Fund - Programs - Assessments - Funding
Status: in_force

(a) The Arkansas High Cost Fund administrator shall: (1) On March 19, 2013, begin making assessments to ensure proper funding to program participants; and (2) Ninety (90) days after March 19, 2013, begin making distributions to eligible participants. (b) (1) On the first day of the calendar quarter after March 19, 2013, the administrator shall use previous calculations of the annual determination and recalculate the support for all participants in the fund based on the revised cap. (2) The difference between the recalculation and the current administrator's determination shall be known as the "transitional funding cap". (3) The transitional funding cap shall be transitioned from being unfunded to funded. (4) If the effective date of payment of any part of the transitional funding cap occurs on a date that is not the beginning of a calendar year, the partial calendar year shall be prorated for the purpose of payment of the transitional funding cap for the remainder of the calendar year. (c) Annually beginning January 1, 2014, the administrator shall determine the fund support during the annual determination process as described in § 23-17-404(e)(4)(C)(ii) (a) and pay the fund's eligible telecommunications carrier participants. Added by Act 2013, No. 442,§ 28, eff. 3/19/2013.

(a) The Arkansas High Cost Fund administrator shall: (1) On March 19, 2013, begin making assessments to ensure proper funding to program participants; and (2) Ninety (90) days after March 19, 2013, begin making distributions to eligible participants.

(1) On March 19, 2013, begin making assessments to ensure proper funding to program participants; and

(2) Ninety (90) days after March 19, 2013, begin making distributions to eligible participants.

(b) (1) On the first day of the calendar quarter after March 19, 2013, the administrator shall use previous calculations of the annual determination and recalculate the support for all participants in the fund based on the revised cap. (2) The difference between the recalculation and the current administrator's determination shall be known as the "transitional funding cap". (3) The transitional funding cap shall be transitioned from being unfunded to funded. (4) If the effective date of payment of any part of the transitional funding cap occurs on a date that is not the beginning of a calendar year, the partial calendar year shall be prorated for the purpose of payment of the transitional funding cap for the remainder of the calendar year.

(1) On the first day of the calendar quarter after March 19, 2013, the administrator shall use previous calculations of the annual determination and recalculate the support for all participants in the fund based on the revised cap.

(2) The difference between the recalculation and the current administrator's determination shall be known as the "transitional funding cap".

(3) The transitional funding cap shall be transitioned from being unfunded to funded.

(4) If the effective date of payment of any part of the transitional funding cap occurs on a date that is not the beginning of a calendar year, the partial calendar year shall be prorated for the purpose of payment of the transitional funding cap for the remainder of the calendar year.

(c) Annually beginning January 1, 2014, the administrator shall determine the fund support during the annual determination process as described in § 23-17-404(e)(4)(C)(ii) (a) and pay the fund's eligible telecommunications carrier participants.

Added by Act 2013, No. 442,§ 28, eff. 3/19/2013.
Ark. Code Ann. § 23-61-610 — AR Code / Title 23 / Chapter 61 / Subchapter 6 / Section 23-61-610
Annual report
Status: in_force

The Administrator of the Risk Management Division shall report annually to the Governor and the Legislative Council on his or her findings and recommendations. Acts 1981, No. 272, § 6; A.S.A. 1947, § 66-5706.

The Administrator of the Risk Management Division shall report annually to the Governor and the Legislative Council on his or her findings and recommendations.

Acts 1981, No. 272, § 6; A.S.A. 1947, § 66-5706.
Ark. Code Ann. § 23-93-201 — AR Code / Title 23 / Chapter 93 / Subchapter 2 / Section 23-93-201
Definitions
Status: in_force

As used in this subchapter: (1) "Commissioner" means the Insurance Commissioner; (2) "Department" means the State Insurance Department; (3) "Entrance fee" means a payment that assures a resident a place in a facility for a term of years or for life; (4) "Facility" means a place which provides life care; (5) "Hazardous financial condition" means a provider is insolvent or in imminent danger of becoming insolvent; (6) "Life care" means continuing care as defined in § 23-93-103(2) , except that no additional charges are made for nursing care or personal care services beyond those charged all residents of the facility who are not receiving nursing care or personal care services; (7) "Living unit" means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one (1) or more identified individuals; (8) (A) "Nursing care" means those services pertaining to the curative, restorative, and preventive aspects of nursing services that are performed by or under the supervision of a registered or licensed nurse. (B) "Nursing care" does not include general health service such as nutritional counseling, exercise programs, or other preventive medicine techniques; (9) (A) "Personal care services" means assistance with meals, dressing, movement, bathing, or other personal needs of maintenance or other direct supervision and oversight of the physical and mental well-being of a person. (B) "Personal care services" does not include general health services such as nutritional counseling, exercise programs, or other preventive medicine techniques; (10) "Provider" means the owner or operator, whether a natural person, partnership, or other incorporated association, trust, or corporation whose owner or operator undertakes to provide life care for a fee, whether fixed or variable, for the period of care. The fee may be payable in lump sum, or lump sum and monthly maintenance charges, or in installments; (11) "Refund reserve" means the actuarially determined annual refund amount required to be maintained by a life care provider for service of its refund amounts during the next fiscal year of the facility; (12) "Resident" means an individual entitled to receive life care in a facility; and (13) "Solicit" means all actions of a provider in seeking to have individuals residing in this state pay an application fee and enter into a life care agreement by any means, such as, but not limited to, personal, telephone, or mail communication, or any other communication directed to and received by any individual in this state, and any advertisements in any media distributed or communicated by any means to individuals in this state. Acts 1993, No. 787, § 1.

As used in this subchapter:

(1) "Commissioner" means the Insurance Commissioner;

(2) "Department" means the State Insurance Department;

(3) "Entrance fee" means a payment that assures a resident a place in a facility for a term of years or for life;

(4) "Facility" means a place which provides life care;

(5) "Hazardous financial condition" means a provider is insolvent or in imminent danger of becoming insolvent;

(6) "Life care" means continuing care as defined in § 23-93-103(2) , except that no additional charges are made for nursing care or personal care services beyond those charged all residents of the facility who are not receiving nursing care or personal care services;

(7) "Living unit" means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one (1) or more identified individuals;

(8) (A) "Nursing care" means those services pertaining to the curative, restorative, and preventive aspects of nursing services that are performed by or under the supervision of a registered or licensed nurse. (B) "Nursing care" does not include general health service such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(A) "Nursing care" means those services pertaining to the curative, restorative, and preventive aspects of nursing services that are performed by or under the supervision of a registered or licensed nurse.

(B) "Nursing care" does not include general health service such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(9) (A) "Personal care services" means assistance with meals, dressing, movement, bathing, or other personal needs of maintenance or other direct supervision and oversight of the physical and mental well-being of a person. (B) "Personal care services" does not include general health services such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(A) "Personal care services" means assistance with meals, dressing, movement, bathing, or other personal needs of maintenance or other direct supervision and oversight of the physical and mental well-being of a person.

(B) "Personal care services" does not include general health services such as nutritional counseling, exercise programs, or other preventive medicine techniques;

(10) "Provider" means the owner or operator, whether a natural person, partnership, or other incorporated association, trust, or corporation whose owner or operator undertakes to provide life care for a fee, whether fixed or variable, for the period of care. The fee may be payable in lump sum, or lump sum and monthly maintenance charges, or in installments;

(11) "Refund reserve" means the actuarially determined annual refund amount required to be maintained by a life care provider for service of its refund amounts during the next fiscal year of the facility;

(12) "Resident" means an individual entitled to receive life care in a facility; and

(13) "Solicit" means all actions of a provider in seeking to have individuals residing in this state pay an application fee and enter into a life care agreement by any means, such as, but not limited to, personal, telephone, or mail communication, or any other communication directed to and received by any individual in this state, and any advertisements in any media distributed or communicated by any means to individuals in this state.

Acts 1993, No. 787, § 1.
Ark. Code Ann. § 23-99-404 — AR Code / Title 23 / Chapter 99 / Subchapter 4 / Section 23-99-404
Benefits for mothers and newborns
Status: in_force

(a) (1) Except as provided in subsection (b) of this section, a healthcare insurer may not restrict benefits for any hospital stay in connection with childbirth for the mother or newborn child to less than forty-eight (48) hours following a normal vaginal delivery or to less than ninety-six (96) hours following cesarean section. (2) A healthcare insurer may not require that a provider obtain authorization for prescribing any length of stay required under subdivision (a)(1) of this section. (b) Subdivision (a)(1) of this section shall not apply if the decision to discharge the mother or her newborn child prior to the expiration of the minimum stay is made by the attending physician in consultation with the mother. Acts 1997, No. 1196, § 4.

(a) (1) Except as provided in subsection (b) of this section, a healthcare insurer may not restrict benefits for any hospital stay in connection with childbirth for the mother or newborn child to less than forty-eight (48) hours following a normal vaginal delivery or to less than ninety-six (96) hours following cesarean section. (2) A healthcare insurer may not require that a provider obtain authorization for prescribing any length of stay required under subdivision (a)(1) of this section.

(1) Except as provided in subsection (b) of this section, a healthcare insurer may not restrict benefits for any hospital stay in connection with childbirth for the mother or newborn child to less than forty-eight (48) hours following a normal vaginal delivery or to less than ninety-six (96) hours following cesarean section.

(2) A healthcare insurer may not require that a provider obtain authorization for prescribing any length of stay required under subdivision (a)(1) of this section.

(b) Subdivision (a)(1) of this section shall not apply if the decision to discharge the mother or her newborn child prior to the expiration of the minimum stay is made by the attending physician in consultation with the mother.

Acts 1997, No. 1196, § 4.
Ark. Code Ann. § 23-68-106 — AR Code / Title 23 / Chapter 68 / Section 23-68-106
Grounds for rehabilitation - Domestic insurers
Status: in_force

The Insurance Commissioner may apply to the court for an order appointing him or her in his or her official capacity and his or her successors in office as receiver of and directing him or her to rehabilitate a domestic insurer upon one (1) or more of the following grounds: (1) The insurer is impaired or insolvent; (2) The insurer has refused to submit any of its books, records, accounts, or affairs to reasonable examination by the commissioner; (3) The insurer has concealed or removed records or assets or otherwise violated § 23-69-134 ; (4) The insurer has failed to comply with an order of the commissioner to make good an impairment of capital or surplus or both; (5) The insurer has transferred or attempted to transfer substantially its entire property or business, or has entered into any transaction the effect of which is to merge substantially its entire property or business into that of any other insurer without having first obtained the written approval of the commissioner; (6) The insurer has willfully violated its charter or articles of incorporation or any law of this state; (7) The insurer has an officer, director, or manager who has refused to be examined under oath concerning its affairs; (8) The insurer has been or is the subject of an application for the appointment of a receiver, trustee, custodian, or sequestrator of the insurer or its property otherwise than pursuant to the provisions of the Arkansas Insurance Code, but only if the appointment has been made or is imminent and its effect is or would be to oust the courts of this state of jurisdiction hereunder; (9) The insurer has consented to an order through a majority of its directors, stockholders, members, or subscribers; (10) The insurer has failed to pay a final judgment rendered against it in this state upon any insurance contract issued or assumed by it, within thirty (30) days after the judgment became final, or within thirty (30) days after the time for taking an appeal has expired, or within thirty (30) days after dismissal of an appeal before final termination, whichever date is the later; (11) The insurer is in such condition that the further transaction of business would be hazardous financially to its policyholders, creditors, or the public; (12) There is a reasonable cause to believe that there has been embezzlement from the insurer, wrongful sequestration or diversion of the insurer's assets, forgery or fraud affecting the insurer, or other illegal conduct in, by, or with respect to, the insurer that if established would endanger assets in an amount threatening the solvency of the insurer; (13) The insurer has failed to remove any person who in fact has executive authority in the insurer, whether an officer, manager, general agent, employee, or other person if the person has been found after notice and hearing by the commissioner to be dishonest or untrustworthy in a way affecting the insurer's business; (14) Control of the insurer, whether by stock ownership or otherwise, and whether direct or indirect, is in a person or persons found after notice and hearing to be untrustworthy; or (15) The insurer has failed to file its annual statement or other financial report required by law within the time allowed by law and, after written demand by the commissioner, has failed to give an adequate explanation immediately. Acts 1959, No. 148, § 642; A.S.A. 1947, § 66-4805; Acts 1993, No. 901, § 34.

The Insurance Commissioner may apply to the court for an order appointing him or her in his or her official capacity and his or her successors in office as receiver of and directing him or her to rehabilitate a domestic insurer upon one (1) or more of the following grounds:

(1) The insurer is impaired or insolvent;

(2) The insurer has refused to submit any of its books, records, accounts, or affairs to reasonable examination by the commissioner;

(3) The insurer has concealed or removed records or assets or otherwise violated § 23-69-134 ;

(4) The insurer has failed to comply with an order of the commissioner to make good an impairment of capital or surplus or both;

(5) The insurer has transferred or attempted to transfer substantially its entire property or business, or has entered into any transaction the effect of which is to merge substantially its entire property or business into that of any other insurer without having first obtained the written approval of the commissioner;

(6) The insurer has willfully violated its charter or articles of incorporation or any law of this state;

(7) The insurer has an officer, director, or manager who has refused to be examined under oath concerning its affairs;

(8) The insurer has been or is the subject of an application for the appointment of a receiver, trustee, custodian, or sequestrator of the insurer or its property otherwise than pursuant to the provisions of the Arkansas Insurance Code, but only if the appointment has been made or is imminent and its effect is or would be to oust the courts of this state of jurisdiction hereunder;

(9) The insurer has consented to an order through a majority of its directors, stockholders, members, or subscribers;

(10) The insurer has failed to pay a final judgment rendered against it in this state upon any insurance contract issued or assumed by it, within thirty (30) days after the judgment became final, or within thirty (30) days after the time for taking an appeal has expired, or within thirty (30) days after dismissal of an appeal before final termination, whichever date is the later;

(11) The insurer is in such condition that the further transaction of business would be hazardous financially to its policyholders, creditors, or the public;

(12) There is a reasonable cause to believe that there has been embezzlement from the insurer, wrongful sequestration or diversion of the insurer's assets, forgery or fraud affecting the insurer, or other illegal conduct in, by, or with respect to, the insurer that if established would endanger assets in an amount threatening the solvency of the insurer;

(13) The insurer has failed to remove any person who in fact has executive authority in the insurer, whether an officer, manager, general agent, employee, or other person if the person has been found after notice and hearing by the commissioner to be dishonest or untrustworthy in a way affecting the insurer's business;

(14) Control of the insurer, whether by stock ownership or otherwise, and whether direct or indirect, is in a person or persons found after notice and hearing to be untrustworthy; or

(15) The insurer has failed to file its annual statement or other financial report required by law within the time allowed by law and, after written demand by the commissioner, has failed to give an adequate explanation immediately.

Acts 1959, No. 148, § 642; A.S.A. 1947, § 66-4805; Acts 1993, No. 901, § 34.
Ark. Code Ann. § 23-4-604 — AR Code / Title 23 / Chapter 4 / Subchapter 6 / Section 23-4-604
Railroads and express companies - Schedule of rates
Status: in_force

(a) In order to ascertain what the regular charge of those companies are, all railroad and express companies doing business in this state are required to keep in all their offices in this state a schedule of the regular rates charged by them, which shall be open to the inspection of any person interested therein. (b) Any agent of any railroad or express company who fails or refuses to show the schedule of rates of the company to any person interested therein and allow him or her to examine the schedule of rates as provided in subsection (a) of this section is guilty of a violation and upon conviction shall be fined in any sum not less than one hundred dollars ($100) nor more than five hundred dollars ($500). Amended by Act 2023, No. 180,§ 2, eff. 8/1/2023. Acts 1897, No. 53, §§ 3, 5, p. 72; C. & M. Dig., §§ 873, 875, 10250a; Pope's Dig., §§ 1077, 1079, 14260; A.S.A. 1947, §§ 73-1404, 73-1406.

(a) In order to ascertain what the regular charge of those companies are, all railroad and express companies doing business in this state are required to keep in all their offices in this state a schedule of the regular rates charged by them, which shall be open to the inspection of any person interested therein.

(b) Any agent of any railroad or express company who fails or refuses to show the schedule of rates of the company to any person interested therein and allow him or her to examine the schedule of rates as provided in subsection (a) of this section is guilty of a violation and upon conviction shall be fined in any sum not less than one hundred dollars ($100) nor more than five hundred dollars ($500).

Amended by Act 2023, No. 180,§ 2, eff. 8/1/2023.

Acts 1897, No. 53, §§ 3, 5, p. 72; C. & M. Dig., §§ 873, 875, 10250a; Pope's Dig., §§ 1077, 1079, 14260; A.S.A. 1947, §§ 73-1404, 73-1406.
Ark. Code Ann. § 23-80-305 — AR Code / Title 23 / Chapter 80 / Subchapter 3 / Section 23-80-305
Powers of commissioner
Status: in_force

(a) After notice and hearing, the Insurance Commissioner may issue reasonable rules implementing §§ 23-80-306 and 23-80-308 . (b) At the commissioner's sole discretion, he or she may extend any dates under this subchapter. (c) The commissioner shall have sole authority to enforce the provisions of this subchapter or seek remedies for its violation. Amended by Act 2019, No. 315,§ 2724, eff. 7/24/2019. Acts 1981, No. 517, § 8; A.S.A. 1947, § 66-5808.

(a) After notice and hearing, the Insurance Commissioner may issue reasonable rules implementing §§ 23-80-306 and 23-80-308 .

(b) At the commissioner's sole discretion, he or she may extend any dates under this subchapter.

(c) The commissioner shall have sole authority to enforce the provisions of this subchapter or seek remedies for its violation.

Amended by Act 2019, No. 315,§ 2724, eff. 7/24/2019.

Acts 1981, No. 517, § 8; A.S.A. 1947, § 66-5808.
Ark. Code Ann. § 23-10-110 — AR Code / Title 23 / Chapter 10 / Subchapter 1 / Section 23-10-110
Railroads - Actions under Acts 1887, No. 81 - Attendance and testimony of officers, agents, etc
Status: in_force

(a) In any action brought under this act, the court before which the action is pending may compel any president, director, officer, receiver, trustee, or agent of the railroad defendant in the action to attend and testify in the case. The court may compel the production of the books and papers of the railroad corporation party to the action or suit. (b) The claim that any such testimony or evidence may tend to incriminate the person giving the evidence shall not excuse the witness from testifying, but the evidence or testimony shall not be used against the person on the trial of any criminal proceedings. Acts 1887, No. 81, § 8, p. 113; C. & M. Dig., § 1005; Pope's Dig., § 1214; A.S.A. 1947, § 73-1510.

(a) In any action brought under this act, the court before which the action is pending may compel any president, director, officer, receiver, trustee, or agent of the railroad defendant in the action to attend and testify in the case. The court may compel the production of the books and papers of the railroad corporation party to the action or suit.

(b) The claim that any such testimony or evidence may tend to incriminate the person giving the evidence shall not excuse the witness from testifying, but the evidence or testimony shall not be used against the person on the trial of any criminal proceedings.

Acts 1887, No. 81, § 8, p. 113; C. & M. Dig., § 1005; Pope's Dig., § 1214; A.S.A. 1947, § 73-1510.
Ark. Code Ann. § 23-63-1616 — AR Code / Title 23 / Chapter 63 / Subchapter 16 / Section 23-63-1616
Limitations
Status: in_force

(a) The Arkansas Insurance Code does not apply to captive insurance companies except for those provisions contained in or specifically referenced in this subchapter that are to be incorporated into the Arkansas Insurance Code. (b) The Insurance Commissioner may exempt by rule or other order special purpose captive insurance companies on a case-by-case basis from the provisions of this chapter that he or she determines to be inappropriate, given the nature of the risks to be insured. (c) In addition to this subchapter, the following provisions of the Arkansas Insurance Code and applicable rules apply to a risk retention group formed under the Risk Retention and Purchasing Groups Act, § 23-94-201 et seq., and subject to this subchapter: (1) Section 23-61-201 et seq., and the Arkansas Credit for Reinsurance Law, § 23-62-301 et seq., referring to the commissioner; (2) The Reinsurance Intermediary Act, § 23-62-401 et seq.; (3) Sections 23-63-212 and 23-63-213 , referring to certificates of authority; (4) Section 23-63-216(e) and the Property and Casualty Actuarial Opinion Law, § 23-63-1901 et seq., referring to actuarial opinions; (5) The Insurance Holding Company Regulatory Act, § 23-63-501 et seq., and § 23-69-129 , referring to dividends to stockholders; (6) Section 23-63-601 et seq., referring to financial reporting standards; (7) Section 23-63-701 , referring to limits of risk; (8) Section 23-63-801 et seq., referring to investments; (9) The Business Transacted with Producer Controlled Property and Casualty Insurer Act, § 23-63-1101 et seq., referring to producer controlled business; (10) With the exception of § 23-63-1304(f) and § 23-63-1311 , the Risk-Based Capital Act, § 23-63-1301 et seq., referring to risk-based capital; (11) Section § 23-64-201 et seq., and the Producer Licensing Model Act, § 23-64-501 et seq., referring to licensure; (12) The Managing General Agents Act, § 23-64-401 et seq., referring to managing general agents; and (13) Section 23-68-101 et seq., and § 23-69-138 , referring to impairment of capital or assets. (d) If subsection (c) of this section is in conflict with this subchapter, subsection (c) of this section controls. (e) Except as provided in this subchapter, the Risk Retention and Purchasing Groups Act, § 23-94-201 et seq., applies to a risk retention group formed as a captive insurer. (f) In determining whether to take regulatory action under §§ 23-63-1304 - 23-63-1307 , the commissioner may consider the adequacy of documentation evidencing the sound financial condition of the risk retention group's members or sponsoring organizations and intent to financially support the risk retention group, including: (1) (A) A minimum of three (3) years of audited financial statements of the member or sponsor and one (1) year of projected financial information. (B) The projected financial information required in subdivision (f)(1)(A) of this section shall include: (i) An investment grade rating from a nationally recognized statistical rating organization or A.M. Best rating of A- or better; (ii) Equity equal to or greater than one hundred million dollars ($100,000,000); and (iii) Equity equal to or greater than ten (10) times the risk retention group's largest net retained per occurrence limit; and (2) (A) Policyholder qualification as an industrial insured in this state or the policyholder's home state, depending upon which state has the more stringent requirements. (B) If the home state of the policyholder does not have an industrial insured exemption or its equivalent, the policyholder shall qualify under the industrial requirement of this state. Amended by Act 2019, No. 315,§ 2643, eff. 7/24/2019. Amended by Act 2019, No. 521,§ 12, eff. 7/24/2019. Acts 2001, No. 1391, § 16; 2003, No. 466, § 8.

(a) The Arkansas Insurance Code does not apply to captive insurance companies except for those provisions contained in or specifically referenced in this subchapter that are to be incorporated into the Arkansas Insurance Code.

(b) The Insurance Commissioner may exempt by rule or other order special purpose captive insurance companies on a case-by-case basis from the provisions of this chapter that he or she determines to be inappropriate, given the nature of the risks to be insured.

(c) In addition to this subchapter, the following provisions of the Arkansas Insurance Code and applicable rules apply to a risk retention group formed under the Risk Retention and Purchasing Groups Act, § 23-94-201 et seq., and subject to this subchapter: (1) Section 23-61-201 et seq., and the Arkansas Credit for Reinsurance Law, § 23-62-301 et seq., referring to the commissioner; (2) The Reinsurance Intermediary Act, § 23-62-401 et seq.; (3) Sections 23-63-212 and 23-63-213 , referring to certificates of authority; (4) Section 23-63-216(e) and the Property and Casualty Actuarial Opinion Law, § 23-63-1901 et seq., referring to actuarial opinions; (5) The Insurance Holding Company Regulatory Act, § 23-63-501 et seq., and § 23-69-129 , referring to dividends to stockholders; (6) Section 23-63-601 et seq., referring to financial reporting standards; (7) Section 23-63-701 , referring to limits of risk; (8) Section 23-63-801 et seq., referring to investments; (9) The Business Transacted with Producer Controlled Property and Casualty Insurer Act, § 23-63-1101 et seq., referring to producer controlled business; (10) With the exception of § 23-63-1304(f) and § 23-63-1311 , the Risk-Based Capital Act, § 23-63-1301 et seq., referring to risk-based capital; (11) Section § 23-64-201 et seq., and the Producer Licensing Model Act, § 23-64-501 et seq., referring to licensure; (12) The Managing General Agents Act, § 23-64-401 et seq., referring to managing general agents; and (13) Section 23-68-101 et seq., and § 23-69-138 , referring to impairment of capital or assets.

(1) Section 23-61-201 et seq., and the Arkansas Credit for Reinsurance Law, § 23-62-301 et seq., referring to the commissioner;

(2) The Reinsurance Intermediary Act, § 23-62-401 et seq.;

(3) Sections 23-63-212 and 23-63-213 , referring to certificates of authority;

(4) Section 23-63-216(e) and the Property and Casualty Actuarial Opinion Law, § 23-63-1901 et seq., referring to actuarial opinions;

(5) The Insurance Holding Company Regulatory Act, § 23-63-501 et seq., and § 23-69-129 , referring to dividends to stockholders;

(6) Section 23-63-601 et seq., referring to financial reporting standards;

(7) Section 23-63-701 , referring to limits of risk;

(8) Section 23-63-801 et seq., referring to investments;

(9) The Business Transacted with Producer Controlled Property and Casualty Insurer Act, § 23-63-1101 et seq., referring to producer controlled business;

(10) With the exception of § 23-63-1304(f) and § 23-63-1311 , the Risk-Based Capital Act, § 23-63-1301 et seq., referring to risk-based capital;

(11) Section § 23-64-201 et seq., and the Producer Licensing Model Act, § 23-64-501 et seq., referring to licensure;

(12) The Managing General Agents Act, § 23-64-401 et seq., referring to managing general agents; and

(13) Section 23-68-101 et seq., and § 23-69-138 , referring to impairment of capital or assets.

(d) If subsection (c) of this section is in conflict with this subchapter, subsection (c) of this section controls.

(e) Except as provided in this subchapter, the Risk Retention and Purchasing Groups Act, § 23-94-201 et seq., applies to a risk retention group formed as a captive insurer.

(f) In determining whether to take regulatory action under §§ 23-63-1304 - 23-63-1307 , the commissioner may consider the adequacy of documentation evidencing the sound financial condition of the risk retention group's members or sponsoring organizations and intent to financially support the risk retention group, including: (1) (A) A minimum of three (3) years of audited financial statements of the member or sponsor and one (1) year of projected financial information. (B) The projected financial information required in subdivision (f)(1)(A) of this section shall include: (i) An investment grade rating from a nationally recognized statistical rating organization or A.M. Best rating of A- or better; (ii) Equity equal to or greater than one hundred million dollars ($100,000,000); and (iii) Equity equal to or greater than ten (10) times the risk retention group's largest net retained per occurrence limit; and (2) (A) Policyholder qualification as an industrial insured in this state or the policyholder's home state, depending upon which state has the more stringent requirements. (B) If the home state of the policyholder does not have an industrial insured exemption or its equivalent, the policyholder shall qualify under the industrial requirement of this state.

(1) (A) A minimum of three (3) years of audited financial statements of the member or sponsor and one (1) year of projected financial information. (B) The projected financial information required in subdivision (f)(1)(A) of this section shall include: (i) An investment grade rating from a nationally recognized statistical rating organization or A.M. Best rating of A- or better; (ii) Equity equal to or greater than one hundred million dollars ($100,000,000); and (iii) Equity equal to or greater than ten (10) times the risk retention group's largest net retained per occurrence limit; and

(A) A minimum of three (3) years of audited financial statements of the member or sponsor and one (1) year of projected financial information.

(B) The projected financial information required in subdivision (f)(1)(A) of this section shall include: (i) An investment grade rating from a nationally recognized statistical rating organization or A.M. Best rating of A- or better; (ii) Equity equal to or greater than one hundred million dollars ($100,000,000); and (iii) Equity equal to or greater than ten (10) times the risk retention group's largest net retained per occurrence limit; and

(i) An investment grade rating from a nationally recognized statistical rating organization or A.M. Best rating of A- or better;

(ii) Equity equal to or greater than one hundred million dollars ($100,000,000); and

(iii) Equity equal to or greater than ten (10) times the risk retention group's largest net retained per occurrence limit; and

(2) (A) Policyholder qualification as an industrial insured in this state or the policyholder's home state, depending upon which state has the more stringent requirements. (B) If the home state of the policyholder does not have an industrial insured exemption or its equivalent, the policyholder shall qualify under the industrial requirement of this state.

(A) Policyholder qualification as an industrial insured in this state or the policyholder's home state, depending upon which state has the more stringent requirements.

(B) If the home state of the policyholder does not have an industrial insured exemption or its equivalent, the policyholder shall qualify under the industrial requirement of this state.

Amended by Act 2019, No. 315,§ 2643, eff. 7/24/2019.

Amended by Act 2019, No. 521,§ 12, eff. 7/24/2019.

Acts 2001, No. 1391, § 16; 2003, No. 466, § 8.
Ark. Code Ann. § 23-79-1704 — AR Code / Title 23 / Chapter 79 / Subchapter 17 / Section 23-79-1704
Legislative findings
Status: in_force

The General Assembly finds that: (1) The State Board of Finance has a fiduciary obligation to explore cost-effective treatments for its members; (2) There are emerging technologies that could serve as cost-effective alternatives to surgical procedures; and (3) Clinical organizations are increasingly providing public guidance on quality treatment practices. Amended by Act 2021, No. 1004,§ 25, eff. 4/28/2021. Added by Act 2019, No. 391,§ 10, eff. 7/24/2019.

The General Assembly finds that:

(1) The State Board of Finance has a fiduciary obligation to explore cost-effective treatments for its members;

(2) There are emerging technologies that could serve as cost-effective alternatives to surgical procedures; and

(3) Clinical organizations are increasingly providing public guidance on quality treatment practices.

Amended by Act 2021, No. 1004,§ 25, eff. 4/28/2021.

Added by Act 2019, No. 391,§ 10, eff. 7/24/2019.
Ark. Code Ann. § 23-13-601 — AR Code / Title 23 / Chapter 13 / Subchapter 6 / Section 23-13-601
Definitions
Status: in_force

As used in this subchapter: (1) "Broker" means a person other than a motor carrier or an employee or agent of a motor carrier that as a principal or an agent sells, offers for sale, negotiates for, or holds itself out by solicitation, advertisement, or otherwise as selling, providing, or arranging for transportation by motor carrier for compensation; (2) "Commercial motor vehicle" means a self-propelled or towed vehicle used on the highways in commerce principally to transport passengers or cargo if the vehicle: (A) Has a gross vehicle weight rating or gross vehicle weight of at least ten thousand one pounds (10,001 lbs.), whichever is greater; (B) Is designed to transport more than ten (10) passengers including the driver; or (C) Is used in transporting material found by the United States Secretary of Transportation to be hazardous under 49 U.S.C. § 5103 , as it existed on January 1, 2007, and transported in a quantity requiring placarding under regulations prescribed by the secretary under 49 U.S.C. § 5103 , as it existed on January 1, 2007; (3) "Freight forwarder" means a person holding itself out to the general public other than as a pipeline, rail, motor, or water carrier to provide transportation of property for compensation and in the ordinary course of its business: (A) Assembles and consolidates, or provides for assembling and consolidating, shipments and performs or provides for break-bulk and distribution operations of the shipments; (B) Assumes responsibility for the transportation from the place of receipt to the place of destination; and (C) (i) Uses for any part of the transportation a carrier subject to jurisdiction under 49 U.S.C. § 10101 et seq., as it existed on January 1, 2007. (ii) "Freight forwarder" does not include a person using transportation of an air carrier subject to 49 U.S.C. § 40101 et seq., as it existed on January 1, 2007; (4) "Leasing company" means a lessor that is engaged in the business of leasing or renting for compensation motor vehicles without drivers to a motor carrier, motor private carrier, or freight forwarder; (5) "Motor carrier" means a person providing commercial motor vehicle transportation for compensation; and (6) "Motor private carrier" means a person other than a motor carrier transporting property by commercial motor vehicle when: (A) The transportation is interstate commerce as provided in 49 U.S.C. § 13501 , as it existed on January 1, 2007; (B) The person is the owner, lessee, or bailee of the property being transported; and (C) The property is being transported for sale, lease, rent, or bailment or to further a commercial enterprise. Acts 2007, No. 232, § 2.

As used in this subchapter:

(1) "Broker" means a person other than a motor carrier or an employee or agent of a motor carrier that as a principal or an agent sells, offers for sale, negotiates for, or holds itself out by solicitation, advertisement, or otherwise as selling, providing, or arranging for transportation by motor carrier for compensation;

(2) "Commercial motor vehicle" means a self-propelled or towed vehicle used on the highways in commerce principally to transport passengers or cargo if the vehicle: (A) Has a gross vehicle weight rating or gross vehicle weight of at least ten thousand one pounds (10,001 lbs.), whichever is greater; (B) Is designed to transport more than ten (10) passengers including the driver; or (C) Is used in transporting material found by the United States Secretary of Transportation to be hazardous under 49 U.S.C. § 5103 , as it existed on January 1, 2007, and transported in a quantity requiring placarding under regulations prescribed by the secretary under 49 U.S.C. § 5103 , as it existed on January 1, 2007;

(A) Has a gross vehicle weight rating or gross vehicle weight of at least ten thousand one pounds (10,001 lbs.), whichever is greater;

(B) Is designed to transport more than ten (10) passengers including the driver; or

(C) Is used in transporting material found by the United States Secretary of Transportation to be hazardous under 49 U.S.C. § 5103 , as it existed on January 1, 2007, and transported in a quantity requiring placarding under regulations prescribed by the secretary under 49 U.S.C. § 5103 , as it existed on January 1, 2007;

(3) "Freight forwarder" means a person holding itself out to the general public other than as a pipeline, rail, motor, or water carrier to provide transportation of property for compensation and in the ordinary course of its business: (A) Assembles and consolidates, or provides for assembling and consolidating, shipments and performs or provides for break-bulk and distribution operations of the shipments; (B) Assumes responsibility for the transportation from the place of receipt to the place of destination; and (C) (i) Uses for any part of the transportation a carrier subject to jurisdiction under 49 U.S.C. § 10101 et seq., as it existed on January 1, 2007. (ii) "Freight forwarder" does not include a person using transportation of an air carrier subject to 49 U.S.C. § 40101 et seq., as it existed on January 1, 2007;

(A) Assembles and consolidates, or provides for assembling and consolidating, shipments and performs or provides for break-bulk and distribution operations of the shipments;

(B) Assumes responsibility for the transportation from the place of receipt to the place of destination; and

(C) (i) Uses for any part of the transportation a carrier subject to jurisdiction under 49 U.S.C. § 10101 et seq., as it existed on January 1, 2007. (ii) "Freight forwarder" does not include a person using transportation of an air carrier subject to 49 U.S.C. § 40101 et seq., as it existed on January 1, 2007;

(i) Uses for any part of the transportation a carrier subject to jurisdiction under 49 U.S.C. § 10101 et seq., as it existed on January 1, 2007.

(ii) "Freight forwarder" does not include a person using transportation of an air carrier subject to 49 U.S.C. § 40101 et seq., as it existed on January 1, 2007;

(4) "Leasing company" means a lessor that is engaged in the business of leasing or renting for compensation motor vehicles without drivers to a motor carrier, motor private carrier, or freight forwarder;

(5) "Motor carrier" means a person providing commercial motor vehicle transportation for compensation; and

(6) "Motor private carrier" means a person other than a motor carrier transporting property by commercial motor vehicle when: (A) The transportation is interstate commerce as provided in 49 U.S.C. § 13501 , as it existed on January 1, 2007; (B) The person is the owner, lessee, or bailee of the property being transported; and (C) The property is being transported for sale, lease, rent, or bailment or to further a commercial enterprise.

(A) The transportation is interstate commerce as provided in 49 U.S.C. § 13501 , as it existed on January 1, 2007;

(B) The person is the owner, lessee, or bailee of the property being transported; and

(C) The property is being transported for sale, lease, rent, or bailment or to further a commercial enterprise.

Acts 2007, No. 232, § 2.
Ark. Code Ann. § 23-81-121 — AR Code / Title 23 / Chapter 81 / Subchapter 1 / Section 23-81-121
Annuity and pure endowment contracts - Standard provisions required
Status: in_force

(a) No annuity or pure endowment contract, other than reversionary annuities, survivorship annuities, or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in §§ 23-81-122 - 23-81-127 . Any of the provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein. (b) This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies. Acts 1959, No. 148, § 324; A.S.A. 1947, § 66-3315.

(a) No annuity or pure endowment contract, other than reversionary annuities, survivorship annuities, or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in §§ 23-81-122 - 23-81-127 . Any of the provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein.

(b) This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.

Acts 1959, No. 148, § 324; A.S.A. 1947, § 66-3315.
Ark. Code Ann. § 23-80-203 — AR Code / Title 23 / Chapter 80 / Subchapter 2 / Section 23-80-203
Definitions
Status: in_force

As used in this subchapter: (1) "Commissioner" means the Insurance Commissioner; (2) "Company" or "insurer" means any life or accident and health insurance company, fraternal benefit society, nonprofit health service corporation, nonprofit hospital service corporation, nonprofit medical service corporation, prepaid health plan, dental care plan, vision care plan, pharmaceutical plan, health maintenance organization, and all similar type organizations; and (3) "Policy" or "policy form" means any: (A) Policy, contract, plan, or agreement of life insurance and annuities or accident and health insurance, including credit life insurance and credit disability insurance, delivered or issued for delivery in this state by any company subject to this subchapter; (B) Certificate, contract, or policy issued by a fraternal benefit society; (C) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and (D) Evidence of coverage issued by a health maintenance organization. Acts 1979, No. 258, § 3; A.S.A. 1947, § 66-3253; Acts 2001, No. 1603, § 41.

As used in this subchapter:

(1) "Commissioner" means the Insurance Commissioner;

(2) "Company" or "insurer" means any life or accident and health insurance company, fraternal benefit society, nonprofit health service corporation, nonprofit hospital service corporation, nonprofit medical service corporation, prepaid health plan, dental care plan, vision care plan, pharmaceutical plan, health maintenance organization, and all similar type organizations; and

(3) "Policy" or "policy form" means any: (A) Policy, contract, plan, or agreement of life insurance and annuities or accident and health insurance, including credit life insurance and credit disability insurance, delivered or issued for delivery in this state by any company subject to this subchapter; (B) Certificate, contract, or policy issued by a fraternal benefit society; (C) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and (D) Evidence of coverage issued by a health maintenance organization.

(A) Policy, contract, plan, or agreement of life insurance and annuities or accident and health insurance, including credit life insurance and credit disability insurance, delivered or issued for delivery in this state by any company subject to this subchapter;

(B) Certificate, contract, or policy issued by a fraternal benefit society;

(C) Certificate issued pursuant to a group insurance policy delivered or issued for delivery in this state; and

(D) Evidence of coverage issued by a health maintenance organization.

Acts 1979, No. 258, § 3; A.S.A. 1947, § 66-3253; Acts 2001, No. 1603, § 41.
Ark. Code Ann. § 23-18-906 — AR Code / Title 23 / Chapter 18 / Subchapter 9 / Section 23-18-906
Sale
Status: in_force

(a) The sale, assignment, or transfer of storm recovery property is governed by this section. (b) All of the following apply to a sale, assignment, or transfer under this section: (1) (A) The sale, conveyance, assignment, or other transfer of storm recovery property by a utility to an assignee that the parties have in the governing documentation expressly stated to be a sale or other absolute transfer is an absolute transfer and true sale of, and not a pledge of or security interest in, the transferor's right, title, and interest in, to, and under the storm recovery property, other than for federal and state income tax purposes. (B) For all purposes other than federal and state income tax purposes, the parties' characterization of a transaction as a sale of an interest in storm recovery property shall be conclusive that the transaction is a true sale and that ownership has passed to the party characterized as the purchaser, regardless of whether the purchaser has possession of any documents evidencing or pertaining to the interest. (C) After a transaction, the storm recovery property is not subject to any claims of the transferor or the transferor's creditors, other than creditors holding a prior security interest in the storm recovery property perfected under subdivision (b)(4) of this section; (2) The characterization of the sale, conveyance, assignment, or other transfer as a true sale or other absolute transfer under subdivision (b)(1) of this section and the corresponding characterization of the assignee's property interest is not affected by: (A) Commingling of amounts arising with respect to the storm recovery property with other amounts; (B) The retention by the transferor of a partial or residual interest, including an equity interest or entitlement to any surplus, in the storm recovery property, whether direct or indirect, or whether subordinate or otherwise; (C) Any recourse that the assignee may have against the transferor, except that any recourse shall not be created, contingent upon, or otherwise occurring or resulting from the inability or failure of one (1) or more of the transferor's customers to timely pay all or a portion of the storm recovery charge; (D) Any indemnifications, obligations, or repurchase rights made or provided by the transferor, except that the indemnity or repurchase rights shall not be based solely upon the inability or failure of a transferor's customers to timely pay all or a portion of the storm recovery charge; (E) The transferor acting as the collector of the storm recovery charges or the existence of any contract that authorizes or requires the utility, to the extent that any interest in storm recovery property is sold or assigned, to contract with the assignee or any financing party that it will continue to operate its system to provide service to its customers, will collect amounts in respect of the storm recovery charges for the benefit and account of the assignee or financing party, and will account for and remit the amounts to or for the account of the assignee or financing party, including pursuant to a sequestration order authorized by this subchapter; (F) The contrary or other treatment of the sale, conveyance, assignment, or other transfer for tax, financial reporting, or other purposes; (G) The granting or providing to holders of the storm recovery bonds of a preferred right to the storm recovery property or credit enhancement by the utility or its affiliates with respect to the storm recovery bonds; or (H) (i) The status of the assignee as a direct or indirect wholly owned subsidiary or other affiliate of the utility. (ii) The separate identity of any assignee of storm recovery property which is a subsidiary or affiliate of the utility shall not be disregarded due to the fact that the assignee and the utility share any one (1) or more incidents of control, including common managers, officers, directors, members, accounting or administrative systems, consolidated tax returns, or office space, that the assignee may be a disregarded entity for tax purposes, that the utility caused the formation of the assignee, that a contract by the utility and the assignee described in subdivision (b)(2)(E) of this section exists, that the assignee has no other business other than pertaining to the storm recovery property, that the capitalization of the assignee is limited to amounts required for compliance with certain applicable federal income tax laws and revenue procedures, or that other factors used in applying a single business enterprise test to juridical persons are present; (3) (A) Any right that a utility has in the storm recovery property prior to its pledge, sale, or transfer or any other right of a utility created under this subchapter or created in the financing order and assignable under this section or assignable pursuant to a financing order shall be property in the form of a contract right. (B) Transfer of an interest in storm recovery property to an assignee is enforceable only upon the later of the issuance of a financing order, the execution and delivery of transfer documents to the assignee in connection with the issuance of storm recovery bonds, and the receipt of value. (C) An enforceable transfer of an interest in storm recovery property to an assignee other than a security interest shall be perfected against all third parties, including subsequent judicial or other lien creditors, when a notice of that transfer has been given by the filing of a financing statement according to subdivision (b)(4) of this section. (D) The transfer shall be perfected against third parties as of the date of filing; (4) (A) Except as otherwise provided in this subchapter, financing statements required to be filed under this section shall be filed, indexed, and maintained in the same manner and in the same system of records maintained for the filing of financing statements under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (B) The filing of a financing statement with the Secretary of State shall be the only method of perfecting a sale, assignment, or transfer of storm recovery property. (C) The sale, assignment, or transfer of an interest in storm recovery property perfected by filing a financing statement is effective against the customers owing payment of the storm recovery charges, creditors of the transferor, subsequent transferees, and all other third persons notwithstanding the absence of actual knowledge of or notice to the customers of the sale, assignment, or transfer. (D) A continuation statement need not be filed to maintain the perfection; (5) The priority of the conflicting ownership interests of assignees in the same interest or rights in any storm recovery property is determined as follows: (A) Conflicting perfected interests or rights of assignees rank according to priority in time of perfection; (B) A perfected interest or right of an assignee has priority over a conflicting unperfected interest or right of an assignee; and (C) A perfected interest or right of an assignee has priority over a person who becomes a lien creditor after the perfection of the assignee's interest or right; and (6) (A) The priority of a sale, assignment, or transfer perfected under this section is not impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds. (B) Any other security interest that may apply to those funds, other than a security interest perfected under § 23-18-907 shall be terminated when those funds are transferred to a segregated account for the assignee or a financing party. (C) If storm recovery property has been transferred to an assignee or financing party, any proceeds of that property shall be held for and delivered to the assignee or financing party by any collector as a fiduciary. Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021. Acts 2009, No. 729, § 1.

(a) The sale, assignment, or transfer of storm recovery property is governed by this section.

(b) All of the following apply to a sale, assignment, or transfer under this section: (1) (A) The sale, conveyance, assignment, or other transfer of storm recovery property by a utility to an assignee that the parties have in the governing documentation expressly stated to be a sale or other absolute transfer is an absolute transfer and true sale of, and not a pledge of or security interest in, the transferor's right, title, and interest in, to, and under the storm recovery property, other than for federal and state income tax purposes. (B) For all purposes other than federal and state income tax purposes, the parties' characterization of a transaction as a sale of an interest in storm recovery property shall be conclusive that the transaction is a true sale and that ownership has passed to the party characterized as the purchaser, regardless of whether the purchaser has possession of any documents evidencing or pertaining to the interest. (C) After a transaction, the storm recovery property is not subject to any claims of the transferor or the transferor's creditors, other than creditors holding a prior security interest in the storm recovery property perfected under subdivision (b)(4) of this section; (2) The characterization of the sale, conveyance, assignment, or other transfer as a true sale or other absolute transfer under subdivision (b)(1) of this section and the corresponding characterization of the assignee's property interest is not affected by: (A) Commingling of amounts arising with respect to the storm recovery property with other amounts; (B) The retention by the transferor of a partial or residual interest, including an equity interest or entitlement to any surplus, in the storm recovery property, whether direct or indirect, or whether subordinate or otherwise; (C) Any recourse that the assignee may have against the transferor, except that any recourse shall not be created, contingent upon, or otherwise occurring or resulting from the inability or failure of one (1) or more of the transferor's customers to timely pay all or a portion of the storm recovery charge; (D) Any indemnifications, obligations, or repurchase rights made or provided by the transferor, except that the indemnity or repurchase rights shall not be based solely upon the inability or failure of a transferor's customers to timely pay all or a portion of the storm recovery charge; (E) The transferor acting as the collector of the storm recovery charges or the existence of any contract that authorizes or requires the utility, to the extent that any interest in storm recovery property is sold or assigned, to contract with the assignee or any financing party that it will continue to operate its system to provide service to its customers, will collect amounts in respect of the storm recovery charges for the benefit and account of the assignee or financing party, and will account for and remit the amounts to or for the account of the assignee or financing party, including pursuant to a sequestration order authorized by this subchapter; (F) The contrary or other treatment of the sale, conveyance, assignment, or other transfer for tax, financial reporting, or other purposes; (G) The granting or providing to holders of the storm recovery bonds of a preferred right to the storm recovery property or credit enhancement by the utility or its affiliates with respect to the storm recovery bonds; or (H) (i) The status of the assignee as a direct or indirect wholly owned subsidiary or other affiliate of the utility. (ii) The separate identity of any assignee of storm recovery property which is a subsidiary or affiliate of the utility shall not be disregarded due to the fact that the assignee and the utility share any one (1) or more incidents of control, including common managers, officers, directors, members, accounting or administrative systems, consolidated tax returns, or office space, that the assignee may be a disregarded entity for tax purposes, that the utility caused the formation of the assignee, that a contract by the utility and the assignee described in subdivision (b)(2)(E) of this section exists, that the assignee has no other business other than pertaining to the storm recovery property, that the capitalization of the assignee is limited to amounts required for compliance with certain applicable federal income tax laws and revenue procedures, or that other factors used in applying a single business enterprise test to juridical persons are present; (3) (A) Any right that a utility has in the storm recovery property prior to its pledge, sale, or transfer or any other right of a utility created under this subchapter or created in the financing order and assignable under this section or assignable pursuant to a financing order shall be property in the form of a contract right. (B) Transfer of an interest in storm recovery property to an assignee is enforceable only upon the later of the issuance of a financing order, the execution and delivery of transfer documents to the assignee in connection with the issuance of storm recovery bonds, and the receipt of value. (C) An enforceable transfer of an interest in storm recovery property to an assignee other than a security interest shall be perfected against all third parties, including subsequent judicial or other lien creditors, when a notice of that transfer has been given by the filing of a financing statement according to subdivision (b)(4) of this section. (D) The transfer shall be perfected against third parties as of the date of filing; (4) (A) Except as otherwise provided in this subchapter, financing statements required to be filed under this section shall be filed, indexed, and maintained in the same manner and in the same system of records maintained for the filing of financing statements under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (B) The filing of a financing statement with the Secretary of State shall be the only method of perfecting a sale, assignment, or transfer of storm recovery property. (C) The sale, assignment, or transfer of an interest in storm recovery property perfected by filing a financing statement is effective against the customers owing payment of the storm recovery charges, creditors of the transferor, subsequent transferees, and all other third persons notwithstanding the absence of actual knowledge of or notice to the customers of the sale, assignment, or transfer. (D) A continuation statement need not be filed to maintain the perfection; (5) The priority of the conflicting ownership interests of assignees in the same interest or rights in any storm recovery property is determined as follows: (A) Conflicting perfected interests or rights of assignees rank according to priority in time of perfection; (B) A perfected interest or right of an assignee has priority over a conflicting unperfected interest or right of an assignee; and (C) A perfected interest or right of an assignee has priority over a person who becomes a lien creditor after the perfection of the assignee's interest or right; and (6) (A) The priority of a sale, assignment, or transfer perfected under this section is not impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds. (B) Any other security interest that may apply to those funds, other than a security interest perfected under § 23-18-907 shall be terminated when those funds are transferred to a segregated account for the assignee or a financing party. (C) If storm recovery property has been transferred to an assignee or financing party, any proceeds of that property shall be held for and delivered to the assignee or financing party by any collector as a fiduciary.

(1) (A) The sale, conveyance, assignment, or other transfer of storm recovery property by a utility to an assignee that the parties have in the governing documentation expressly stated to be a sale or other absolute transfer is an absolute transfer and true sale of, and not a pledge of or security interest in, the transferor's right, title, and interest in, to, and under the storm recovery property, other than for federal and state income tax purposes. (B) For all purposes other than federal and state income tax purposes, the parties' characterization of a transaction as a sale of an interest in storm recovery property shall be conclusive that the transaction is a true sale and that ownership has passed to the party characterized as the purchaser, regardless of whether the purchaser has possession of any documents evidencing or pertaining to the interest. (C) After a transaction, the storm recovery property is not subject to any claims of the transferor or the transferor's creditors, other than creditors holding a prior security interest in the storm recovery property perfected under subdivision (b)(4) of this section;

(A) The sale, conveyance, assignment, or other transfer of storm recovery property by a utility to an assignee that the parties have in the governing documentation expressly stated to be a sale or other absolute transfer is an absolute transfer and true sale of, and not a pledge of or security interest in, the transferor's right, title, and interest in, to, and under the storm recovery property, other than for federal and state income tax purposes.

(B) For all purposes other than federal and state income tax purposes, the parties' characterization of a transaction as a sale of an interest in storm recovery property shall be conclusive that the transaction is a true sale and that ownership has passed to the party characterized as the purchaser, regardless of whether the purchaser has possession of any documents evidencing or pertaining to the interest.

(C) After a transaction, the storm recovery property is not subject to any claims of the transferor or the transferor's creditors, other than creditors holding a prior security interest in the storm recovery property perfected under subdivision (b)(4) of this section;

(2) The characterization of the sale, conveyance, assignment, or other transfer as a true sale or other absolute transfer under subdivision (b)(1) of this section and the corresponding characterization of the assignee's property interest is not affected by: (A) Commingling of amounts arising with respect to the storm recovery property with other amounts; (B) The retention by the transferor of a partial or residual interest, including an equity interest or entitlement to any surplus, in the storm recovery property, whether direct or indirect, or whether subordinate or otherwise; (C) Any recourse that the assignee may have against the transferor, except that any recourse shall not be created, contingent upon, or otherwise occurring or resulting from the inability or failure of one (1) or more of the transferor's customers to timely pay all or a portion of the storm recovery charge; (D) Any indemnifications, obligations, or repurchase rights made or provided by the transferor, except that the indemnity or repurchase rights shall not be based solely upon the inability or failure of a transferor's customers to timely pay all or a portion of the storm recovery charge; (E) The transferor acting as the collector of the storm recovery charges or the existence of any contract that authorizes or requires the utility, to the extent that any interest in storm recovery property is sold or assigned, to contract with the assignee or any financing party that it will continue to operate its system to provide service to its customers, will collect amounts in respect of the storm recovery charges for the benefit and account of the assignee or financing party, and will account for and remit the amounts to or for the account of the assignee or financing party, including pursuant to a sequestration order authorized by this subchapter; (F) The contrary or other treatment of the sale, conveyance, assignment, or other transfer for tax, financial reporting, or other purposes; (G) The granting or providing to holders of the storm recovery bonds of a preferred right to the storm recovery property or credit enhancement by the utility or its affiliates with respect to the storm recovery bonds; or (H) (i) The status of the assignee as a direct or indirect wholly owned subsidiary or other affiliate of the utility. (ii) The separate identity of any assignee of storm recovery property which is a subsidiary or affiliate of the utility shall not be disregarded due to the fact that the assignee and the utility share any one (1) or more incidents of control, including common managers, officers, directors, members, accounting or administrative systems, consolidated tax returns, or office space, that the assignee may be a disregarded entity for tax purposes, that the utility caused the formation of the assignee, that a contract by the utility and the assignee described in subdivision (b)(2)(E) of this section exists, that the assignee has no other business other than pertaining to the storm recovery property, that the capitalization of the assignee is limited to amounts required for compliance with certain applicable federal income tax laws and revenue procedures, or that other factors used in applying a single business enterprise test to juridical persons are present;

(A) Commingling of amounts arising with respect to the storm recovery property with other amounts;

(B) The retention by the transferor of a partial or residual interest, including an equity interest or entitlement to any surplus, in the storm recovery property, whether direct or indirect, or whether subordinate or otherwise;

(C) Any recourse that the assignee may have against the transferor, except that any recourse shall not be created, contingent upon, or otherwise occurring or resulting from the inability or failure of one (1) or more of the transferor's customers to timely pay all or a portion of the storm recovery charge;

(D) Any indemnifications, obligations, or repurchase rights made or provided by the transferor, except that the indemnity or repurchase rights shall not be based solely upon the inability or failure of a transferor's customers to timely pay all or a portion of the storm recovery charge;

(E) The transferor acting as the collector of the storm recovery charges or the existence of any contract that authorizes or requires the utility, to the extent that any interest in storm recovery property is sold or assigned, to contract with the assignee or any financing party that it will continue to operate its system to provide service to its customers, will collect amounts in respect of the storm recovery charges for the benefit and account of the assignee or financing party, and will account for and remit the amounts to or for the account of the assignee or financing party, including pursuant to a sequestration order authorized by this subchapter;

(F) The contrary or other treatment of the sale, conveyance, assignment, or other transfer for tax, financial reporting, or other purposes;

(G) The granting or providing to holders of the storm recovery bonds of a preferred right to the storm recovery property or credit enhancement by the utility or its affiliates with respect to the storm recovery bonds; or

(H) (i) The status of the assignee as a direct or indirect wholly owned subsidiary or other affiliate of the utility. (ii) The separate identity of any assignee of storm recovery property which is a subsidiary or affiliate of the utility shall not be disregarded due to the fact that the assignee and the utility share any one (1) or more incidents of control, including common managers, officers, directors, members, accounting or administrative systems, consolidated tax returns, or office space, that the assignee may be a disregarded entity for tax purposes, that the utility caused the formation of the assignee, that a contract by the utility and the assignee described in subdivision (b)(2)(E) of this section exists, that the assignee has no other business other than pertaining to the storm recovery property, that the capitalization of the assignee is limited to amounts required for compliance with certain applicable federal income tax laws and revenue procedures, or that other factors used in applying a single business enterprise test to juridical persons are present;

(i) The status of the assignee as a direct or indirect wholly owned subsidiary or other affiliate of the utility.

(ii) The separate identity of any assignee of storm recovery property which is a subsidiary or affiliate of the utility shall not be disregarded due to the fact that the assignee and the utility share any one (1) or more incidents of control, including common managers, officers, directors, members, accounting or administrative systems, consolidated tax returns, or office space, that the assignee may be a disregarded entity for tax purposes, that the utility caused the formation of the assignee, that a contract by the utility and the assignee described in subdivision (b)(2)(E) of this section exists, that the assignee has no other business other than pertaining to the storm recovery property, that the capitalization of the assignee is limited to amounts required for compliance with certain applicable federal income tax laws and revenue procedures, or that other factors used in applying a single business enterprise test to juridical persons are present;

(3) (A) Any right that a utility has in the storm recovery property prior to its pledge, sale, or transfer or any other right of a utility created under this subchapter or created in the financing order and assignable under this section or assignable pursuant to a financing order shall be property in the form of a contract right. (B) Transfer of an interest in storm recovery property to an assignee is enforceable only upon the later of the issuance of a financing order, the execution and delivery of transfer documents to the assignee in connection with the issuance of storm recovery bonds, and the receipt of value. (C) An enforceable transfer of an interest in storm recovery property to an assignee other than a security interest shall be perfected against all third parties, including subsequent judicial or other lien creditors, when a notice of that transfer has been given by the filing of a financing statement according to subdivision (b)(4) of this section. (D) The transfer shall be perfected against third parties as of the date of filing;

(A) Any right that a utility has in the storm recovery property prior to its pledge, sale, or transfer or any other right of a utility created under this subchapter or created in the financing order and assignable under this section or assignable pursuant to a financing order shall be property in the form of a contract right.

(B) Transfer of an interest in storm recovery property to an assignee is enforceable only upon the later of the issuance of a financing order, the execution and delivery of transfer documents to the assignee in connection with the issuance of storm recovery bonds, and the receipt of value.

(C) An enforceable transfer of an interest in storm recovery property to an assignee other than a security interest shall be perfected against all third parties, including subsequent judicial or other lien creditors, when a notice of that transfer has been given by the filing of a financing statement according to subdivision (b)(4) of this section.

(D) The transfer shall be perfected against third parties as of the date of filing;

(4) (A) Except as otherwise provided in this subchapter, financing statements required to be filed under this section shall be filed, indexed, and maintained in the same manner and in the same system of records maintained for the filing of financing statements under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq. (B) The filing of a financing statement with the Secretary of State shall be the only method of perfecting a sale, assignment, or transfer of storm recovery property. (C) The sale, assignment, or transfer of an interest in storm recovery property perfected by filing a financing statement is effective against the customers owing payment of the storm recovery charges, creditors of the transferor, subsequent transferees, and all other third persons notwithstanding the absence of actual knowledge of or notice to the customers of the sale, assignment, or transfer. (D) A continuation statement need not be filed to maintain the perfection;

(A) Except as otherwise provided in this subchapter, financing statements required to be filed under this section shall be filed, indexed, and maintained in the same manner and in the same system of records maintained for the filing of financing statements under the Uniform Commercial Code - Secured Transactions, § 4-9-101 et seq.

(B) The filing of a financing statement with the Secretary of State shall be the only method of perfecting a sale, assignment, or transfer of storm recovery property.

(C) The sale, assignment, or transfer of an interest in storm recovery property perfected by filing a financing statement is effective against the customers owing payment of the storm recovery charges, creditors of the transferor, subsequent transferees, and all other third persons notwithstanding the absence of actual knowledge of or notice to the customers of the sale, assignment, or transfer.

(D) A continuation statement need not be filed to maintain the perfection;

(5) The priority of the conflicting ownership interests of assignees in the same interest or rights in any storm recovery property is determined as follows: (A) Conflicting perfected interests or rights of assignees rank according to priority in time of perfection; (B) A perfected interest or right of an assignee has priority over a conflicting unperfected interest or right of an assignee; and (C) A perfected interest or right of an assignee has priority over a person who becomes a lien creditor after the perfection of the assignee's interest or right; and

(A) Conflicting perfected interests or rights of assignees rank according to priority in time of perfection;

(B) A perfected interest or right of an assignee has priority over a conflicting unperfected interest or right of an assignee; and

(C) A perfected interest or right of an assignee has priority over a person who becomes a lien creditor after the perfection of the assignee's interest or right; and

(6) (A) The priority of a sale, assignment, or transfer perfected under this section is not impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds. (B) Any other security interest that may apply to those funds, other than a security interest perfected under § 23-18-907 shall be terminated when those funds are transferred to a segregated account for the assignee or a financing party. (C) If storm recovery property has been transferred to an assignee or financing party, any proceeds of that property shall be held for and delivered to the assignee or financing party by any collector as a fiduciary.

(A) The priority of a sale, assignment, or transfer perfected under this section is not impaired by any later modification of the financing order or storm recovery property or by the commingling of funds arising from storm recovery property with other funds.

(B) Any other security interest that may apply to those funds, other than a security interest perfected under § 23-18-907 shall be terminated when those funds are transferred to a segregated account for the assignee or a financing party.

(C) If storm recovery property has been transferred to an assignee or financing party, any proceeds of that property shall be held for and delivered to the assignee or financing party by any collector as a fiduciary.

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

Acts 2009, No. 729, § 1.
Ark. Code Ann. § 23-112-1004 — AR Code / Title 23 / Chapter 112 / Subchapter 10 / Section 23-112-1004
License requirements and application fees - Definition
Status: in_force

(a) The following acts are unlawful: (1) The violation of any of the provisions of this subchapter; (2) Engaging in business as, serving in the capacity of, or acting as a new recreational vehicle dealer, recreational vehicle manufacturer, recreational vehicle distributor, recreational vehicle factory representative, or recreational vehicle manufacturer representative in this state without first obtaining a license as provided in this subchapter; or (3) Offering to sell or selling a recreational vehicle to a consumer except through a licensed new recreational vehicle dealer holding a dealer agreement for the line-make covering the new recreational vehicle or as may otherwise be provided in § 23-112-403(a)(3) . (b) A person, firm, association, corporation, or trust engaging, acting, or serving in more than one (1) of the capacities under subdivision (a)(2) of this section or having more than one (1) place where one (1) or more of the actions under subdivision (a)(2) of this section is carried on or conducted shall obtain and hold a separate and current license for each capacity and place of business. (c) (1) A person shall not engage in the business of buying, selling, or exchanging new recreational vehicles unless the person: (A) Holds a valid dealer license issued by the Arkansas Motor Vehicle Commission for the make of recreational vehicles being bought, sold, or exchanged; or (B) Is a bona fide employee or agent of the licensee. (2) As used in this subsection, "engage in the business of buying, selling, or exchanging recreational vehicles" means: (A) Displaying for sale new recreational vehicles on a lot or in a showroom; (B) Advertising for sale new recreational vehicles regardless of the medium used; or (C) Regularly or actively soliciting buyers for new recreational vehicles. (d) (1) An application for a license shall be accompanied by the appropriate fees in accordance with the schedule under this subchapter. (2) If an application is denied and the license applied for is not issued, the entire license fee shall be returned to the applicant. (3) The license fees to be charged and received by the commission for the licenses issued under this subchapter shall be as follows: (A) For each manufacturer, distributor, factory branch and division, or distributor branch and division, nine hundred dollars ($900); (B) For each manufacturer, distributor, or factory representative, four hundred dollars ($400); (C) For each recreational vehicle dealer, one hundred dollars ($100); (D) For each branch location, twenty-five dollars ($25.00); and (E) For each replacement certificate of license, ten dollars ($10.00). (4) (A) A person, firm, or corporation required to be licensed under this subchapter that fails to make application for the license at the time required shall pay a penalty of fifty percent (50%) of the amount of the license fee for each thirty (30) days of default, in addition to the fees required to be paid under this subsection. (B) The penalty under subdivision (d)(4)(A) of this section may be waived, in whole or in part, within the discretion of the commission. Amended by Act 2023, No. 180,§ 10, eff. 8/1/2023. Amended by Act 2021, No. 504,§ 16, eff. 7/28/2021. Amended by Act 2021, No. 504,§ 15, eff. 7/28/2021. Amended by Act 2021, No. 504,§ 14, eff. 7/28/2021. Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.

(a) The following acts are unlawful: (1) The violation of any of the provisions of this subchapter; (2) Engaging in business as, serving in the capacity of, or acting as a new recreational vehicle dealer, recreational vehicle manufacturer, recreational vehicle distributor, recreational vehicle factory representative, or recreational vehicle manufacturer representative in this state without first obtaining a license as provided in this subchapter; or (3) Offering to sell or selling a recreational vehicle to a consumer except through a licensed new recreational vehicle dealer holding a dealer agreement for the line-make covering the new recreational vehicle or as may otherwise be provided in § 23-112-403(a)(3) .

(1) The violation of any of the provisions of this subchapter;

(2) Engaging in business as, serving in the capacity of, or acting as a new recreational vehicle dealer, recreational vehicle manufacturer, recreational vehicle distributor, recreational vehicle factory representative, or recreational vehicle manufacturer representative in this state without first obtaining a license as provided in this subchapter; or

(3) Offering to sell or selling a recreational vehicle to a consumer except through a licensed new recreational vehicle dealer holding a dealer agreement for the line-make covering the new recreational vehicle or as may otherwise be provided in § 23-112-403(a)(3) .

(b) A person, firm, association, corporation, or trust engaging, acting, or serving in more than one (1) of the capacities under subdivision (a)(2) of this section or having more than one (1) place where one (1) or more of the actions under subdivision (a)(2) of this section is carried on or conducted shall obtain and hold a separate and current license for each capacity and place of business.

(c) (1) A person shall not engage in the business of buying, selling, or exchanging new recreational vehicles unless the person: (A) Holds a valid dealer license issued by the Arkansas Motor Vehicle Commission for the make of recreational vehicles being bought, sold, or exchanged; or (B) Is a bona fide employee or agent of the licensee. (2) As used in this subsection, "engage in the business of buying, selling, or exchanging recreational vehicles" means: (A) Displaying for sale new recreational vehicles on a lot or in a showroom; (B) Advertising for sale new recreational vehicles regardless of the medium used; or (C) Regularly or actively soliciting buyers for new recreational vehicles.

(1) A person shall not engage in the business of buying, selling, or exchanging new recreational vehicles unless the person: (A) Holds a valid dealer license issued by the Arkansas Motor Vehicle Commission for the make of recreational vehicles being bought, sold, or exchanged; or (B) Is a bona fide employee or agent of the licensee.

(A) Holds a valid dealer license issued by the Arkansas Motor Vehicle Commission for the make of recreational vehicles being bought, sold, or exchanged; or

(B) Is a bona fide employee or agent of the licensee.

(2) As used in this subsection, "engage in the business of buying, selling, or exchanging recreational vehicles" means: (A) Displaying for sale new recreational vehicles on a lot or in a showroom; (B) Advertising for sale new recreational vehicles regardless of the medium used; or (C) Regularly or actively soliciting buyers for new recreational vehicles.

(A) Displaying for sale new recreational vehicles on a lot or in a showroom;

(B) Advertising for sale new recreational vehicles regardless of the medium used; or

(C) Regularly or actively soliciting buyers for new recreational vehicles.

(d) (1) An application for a license shall be accompanied by the appropriate fees in accordance with the schedule under this subchapter. (2) If an application is denied and the license applied for is not issued, the entire license fee shall be returned to the applicant. (3) The license fees to be charged and received by the commission for the licenses issued under this subchapter shall be as follows: (A) For each manufacturer, distributor, factory branch and division, or distributor branch and division, nine hundred dollars ($900); (B) For each manufacturer, distributor, or factory representative, four hundred dollars ($400); (C) For each recreational vehicle dealer, one hundred dollars ($100); (D) For each branch location, twenty-five dollars ($25.00); and (E) For each replacement certificate of license, ten dollars ($10.00). (4) (A) A person, firm, or corporation required to be licensed under this subchapter that fails to make application for the license at the time required shall pay a penalty of fifty percent (50%) of the amount of the license fee for each thirty (30) days of default, in addition to the fees required to be paid under this subsection. (B) The penalty under subdivision (d)(4)(A) of this section may be waived, in whole or in part, within the discretion of the commission.

(1) An application for a license shall be accompanied by the appropriate fees in accordance with the schedule under this subchapter.

(2) If an application is denied and the license applied for is not issued, the entire license fee shall be returned to the applicant.

(3) The license fees to be charged and received by the commission for the licenses issued under this subchapter shall be as follows: (A) For each manufacturer, distributor, factory branch and division, or distributor branch and division, nine hundred dollars ($900); (B) For each manufacturer, distributor, or factory representative, four hundred dollars ($400); (C) For each recreational vehicle dealer, one hundred dollars ($100); (D) For each branch location, twenty-five dollars ($25.00); and (E) For each replacement certificate of license, ten dollars ($10.00).

(A) For each manufacturer, distributor, factory branch and division, or distributor branch and division, nine hundred dollars ($900);

(B) For each manufacturer, distributor, or factory representative, four hundred dollars ($400);

(C) For each recreational vehicle dealer, one hundred dollars ($100);

(D) For each branch location, twenty-five dollars ($25.00); and

(E) For each replacement certificate of license, ten dollars ($10.00).

(4) (A) A person, firm, or corporation required to be licensed under this subchapter that fails to make application for the license at the time required shall pay a penalty of fifty percent (50%) of the amount of the license fee for each thirty (30) days of default, in addition to the fees required to be paid under this subsection. (B) The penalty under subdivision (d)(4)(A) of this section may be waived, in whole or in part, within the discretion of the commission.

(A) A person, firm, or corporation required to be licensed under this subchapter that fails to make application for the license at the time required shall pay a penalty of fifty percent (50%) of the amount of the license fee for each thirty (30) days of default, in addition to the fees required to be paid under this subsection.

(B) The penalty under subdivision (d)(4)(A) of this section may be waived, in whole or in part, within the discretion of the commission.

Amended by Act 2023, No. 180,§ 10, eff. 8/1/2023.

Amended by Act 2021, No. 504,§ 16, eff. 7/28/2021.

Amended by Act 2021, No. 504,§ 15, eff. 7/28/2021.

Amended by Act 2021, No. 504,§ 14, eff. 7/28/2021.

Added by Act 2013, No. 1043,§ 10, eff. 1/1/2014.
Ark. Code Ann. § 23-10-411 — AR Code / Title 23 / Chapter 10 / Subchapter 4 / Section 23-10-411
Forwarding freight over connecting lines - Preferences prohibited - Exceptions
Status: in_force

(a) Every person, company, or corporation operating any railroad in this state which connects with any other railroad in this state and which forms a part of a continuous-line railway communication to any point within the state shall afford all due and reasonable facilities for receiving and forwarding by one (1) of the railroads all the traffic arising by the other and shall promptly forward this traffic at through rates without giving any undue preference or advantage to or in favor of any particular person or company or any particular description of traffic in any respect whatsoever. However, preference shall be given to livestock and perishable freight. (b) The connecting lines shall comply as fully with the provisions of this section and §§ 23-10-402 , 23-10-403 , 23-10-405 , 23-10-406 , 23-10-409 , 23-10-410 , and 23-10-412 - 23-10-431 as if they were the original receivers of the freight or traffic to be shipped or transported over their own lines. (c) The connecting railroads that receive cars from a connecting railroad in this state for transportation wholly in this state shall return the cars, or cars of like character, on demand, in a reasonable time after the cars are delivered to the consignee. Acts 1907, No. 193, § 17, p. 453; C. & M. Dig., § 925; Pope's Dig., § 1129; A.S.A. 1947, § 73-1507.

(a) Every person, company, or corporation operating any railroad in this state which connects with any other railroad in this state and which forms a part of a continuous-line railway communication to any point within the state shall afford all due and reasonable facilities for receiving and forwarding by one (1) of the railroads all the traffic arising by the other and shall promptly forward this traffic at through rates without giving any undue preference or advantage to or in favor of any particular person or company or any particular description of traffic in any respect whatsoever. However, preference shall be given to livestock and perishable freight.

(b) The connecting lines shall comply as fully with the provisions of this section and §§ 23-10-402 , 23-10-403 , 23-10-405 , 23-10-406 , 23-10-409 , 23-10-410 , and 23-10-412 - 23-10-431 as if they were the original receivers of the freight or traffic to be shipped or transported over their own lines.

(c) The connecting railroads that receive cars from a connecting railroad in this state for transportation wholly in this state shall return the cars, or cars of like character, on demand, in a reasonable time after the cars are delivered to the consignee.

Acts 1907, No. 193, § 17, p. 453; C. & M. Dig., § 925; Pope's Dig., § 1129; A.S.A. 1947, § 73-1507.