reglab/housing_qa huggingface dataset:
AR Code § 23-65-303 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-303. Insurer not admitted

 (a) The permission granted in this law to place any insurance in a nonadmitted insurer shall not be deemed or construed to authorize that insurer to otherwise transact an insurance business in this state. Further, this limited permission shall not be deemed or construed so as to exempt nonadmitted insurers from the principles of the common law of insurance or from the same statutory and common law penalties that may attach in favor of insureds in the event of disputes or litigation between insureds and admitted insurers.  (b) A contract of insurance carried out by an unauthorized insurer in violation of this subchapter is voidable at the instance of the insured.
AR Code § 23-65-306 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-306. Brokers' reports

 (a) At the time of the procuring of surplus lines insurance in this state, when this state is considered the home state of the insured, the surplus lines broker shall file a report with the Insurance Commissioner within sixty (60) days following the end of the calendar quarter stating the facts referenced in §§ 23-65-313 and 23-65-314 and any additional information the commissioner shall require.  (b) Reports filed under this section are not subject to public inspection unless the commissioner determines that the public interest or the welfare of the filing broker requires otherwise.
AR Code § 23-65-307 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-307. Endorsement of contract

 An insurance contract procured on behalf of an insured whose home state is this state and delivered as surplus lines coverage under this subchapter shall be initiated by or bear the name of the surplus lines broker who procured it and shall contain a conspicuous statement substantially similar to the following:   “This contract is registered and delivered as a surplus line coverage under the Surplus Lines Insurance Law, and it may in some respects be different from contracts issued by insurers in the admitted markets, and, accordingly, it may, depending upon the circumstances, be more or less favorable to an insured than a contract from an admitted carrier might be. The protection of the Arkansas Property and Casualty Guaranty Act does not apply to this contract. A tax of four percent (4%) is required to be collected from the insured on all surplus lines premiums.”
AR Code § 23-65-309 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-309. Acceptance of business from agents by surplus lines brokers

 A licensed surplus lines broker may accept and place surplus lines business for an insurance agent or broker licensed in this state for the kind and class of insurance involved and may compensate the agent or broker therefor.
AR Code § 23-65-310 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-310. Surplus lines in solvent insurers

 (a) A surplus lines broker shall place surplus lines insurance only with insurers that have been approved by the Insurance Commissioner.  (b)  (1) The commissioner may maintain a list of approved foreign and alien surplus lines insurers in addition to those alien insurers maintaining status on the current National Association of Insurance Commissioners' nonadmitted insurers' quarterly listing.  (2) The approved list shall not contain:  (A) An insurer that is not licensed in at least one (1) state of the United States for the kind of insurance involved;  (B) A stock insurer having capital and surplus amounting to less than three million dollars ($3,000,000);  (C) A type of insurer, other than stock insurers, having surplus of less than three million dollars ($3,000,000);  (D)  (i) An alien insurer, unless:  (a) The insurer has an established and effective trust fund within the United States administered by a recognized financial institution and held for the benefit of its policyholders; and  (b) The trust fund is in the amount of not less than one million dollars ($1,000,000).    (ii)  (a) The broker may place casualty insurance with an alien insurer or a pool of alien insurers having combined capital and surplus of five million dollars ($5,000,000) or more, so long as the insured signs an affidavit accepting the insurance.  (b) The affidavit shall include a statement that the insurance is not available to him or her elsewhere.    (iii) The alien insurer shall:  (a) Annually report the location and balance of the trust fund to the commissioner as the commissioner prescribes; and  (b) Report to the commissioner any change in the location of the trust fund;      (E) An insurer owned or controlled by a political sovereign or an agency of a political sovereign; or  (F)  (i) An insurer that does not maintain on deposit under § 23-63-901 et seq. eligible securities having a market value at all times of at least one hundred thousand dollars ($100,000) conditioned on the payment of creditors or obligees of the insurer in this state and the prompt payment of all claims arising and accruing to any persons during the term of the securities under a policy issued by the insurer.  (ii) This subdivision (b)(2)(F) does not apply to foreign and alien surplus lines insurers as of July 21, 2011, if the requirements of the Nonadmitted and Reinsurance Reform Act of 2010, Pub. L. No. 111-203, as it existed on January 1, 2013, are met.        (c) Upon receipt of a written request from the commissioner, an insurer shall promptly furnish to the commissioner information concerning its transactions or affairs.
AR Code § 23-65-312 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-312. Liability of insurer as to losses and unearned premiums

 (a)  (1) If a surplus lines risk has been assumed by an unauthorized insurer under this subchapter and the premium has been received by the surplus lines broker who placed the insurance, the insurer shall be deemed to have received the premium due to it for the coverage.  (2) The insurer shall be liable to the insured for:  (A) Losses covered by the insurance; and  (B) Unearned premiums that may become payable to the insured upon cancellation of the insurance.      (b) Each unauthorized insurer assuming a surplus lines direct risk under the insurance laws of this state shall be deemed to have subjected itself to the terms of this section.  (c) This section shall not deprive the surplus lines insurer of any right of action against the surplus lines broker.
AR Code § 23-65-313 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-313. Records of brokers

 (a) Each surplus lines broker shall keep in his or her office a full and true record of each of his or her surplus lines contracts procured within this state where this state is the home state of the insured, including a copy of the daily report, if any, and showing the following items as applicable:  (1) Amount of the insurance;  (2) Gross premium charged;  (3) Return premium paid, if any;  (4) Rate of premium charged upon the several items of property;  (5) Effective date of the contract and the contract terms;  (6) Name and address of the insurer;  (7) Name and address of the insured;  (8) Brief general description of property insured and where located; and  (9) Other information as required by the Insurance Commissioner.    (b) The records shall be open to examination by the commissioner and shall be kept available and open to inspection by the commissioner for the next five (5) years following the termination of the contracts.
AR Code § 23-65-314 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-314. Quarterly statement

 (a) On or before March 1, June 1, September 1, and December 1 of each year, a surplus lines broker shall file with the Insurance Commissioner a statement for the preceding period of the surplus lines insurance transactions of an insured whose home state is the State of Arkansas.  (b) The statement shall be on forms as prescribed and furnished by the commissioner and shall show:  (1) The gross amount of each kind of insurance transacted;  (2) The aggregate gross premiums charged, exclusive of sums collected to cover state or federal taxes;  (3) The aggregate of returned premiums and taxes paid to insureds;  (4) The aggregate of net premiums; and  (5) Additional information as required by the commissioner.
AR Code § 23-65-315 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-315. Tax on brokers

 (a) No later than sixty (60) days following the end of the calendar quarter in which surplus lines insurance was procured, the surplus lines broker shall remit to the Treasurer of State through the Insurance Commissioner a tax of four percent (4%) on the direct premiums written, less return premiums and exclusive of sums collected to cover state or federal taxes, on surplus lines insurance subject to tax transacted by the surplus lines broker during the preceding calendar quarter for the privilege of transacting business as a surplus lines broker in this state.  (b) The commissioner may participate in a multistate agreement or enter into a compact for the purpose of reporting, collecting, and apportioning surplus lines insurance premium taxes.  (c) If a surplus lines insurance policy covers risks or exposures only partially in this state and the commissioner has entered into an agreement with other states for the apportionment of premium taxes for multistate risks, the tax payable by the surplus lines broker shall be computed and paid on the proportion of the premium that is properly allocable to the risks or exposures located in this state according to the terms of the agreement.
AR Code § 23-65-316 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-316. Penalty for failure to file quarterly statement or remit tax

 (a)  (1) If a surplus lines broker fails to file his or her quarterly statement by the due dates in § 23-65-314, he or she shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the due date.  (2) The Insurance Commissioner may grant a reasonable extension of time within which the statement may be filed for good cause shown and after a written request.  (3) The fine may be recovered by an action instituted by the commissioner in any court of competent jurisdiction.  (4) The commissioner shall pay to the Treasurer of State any fine so collected.    (b)  (1) If a surplus lines broker fails to remit the tax as provided by law by the due date, the surplus lines broker shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the sixty-first day after the end of the month in which surplus lines insurance was procured.  (2) The commissioner shall pay to the Treasurer of State any fine so collected.
AR Code § 23-65-317 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-317. Revocation of broker's license

 (a) The Insurance Commissioner shall revoke a surplus lines broker's license:  (1) If the broker fails to file his or her quarterly statement or fails to remit the tax as required by law;  (2) If the broker fails to maintain an office, keep records, or allow the commissioner to examine his or her records as required by law; or  (3) For any cause for which an agent's license may be revoked.    (b) The commissioner may suspend or revoke a license whenever he or she deems the suspension or revocation to be for the best interest of the people of this state.  (c) The procedures provided by § 23-64-218 for the suspension or revocation of an agent's license shall be applicable to suspension or revocation of a surplus lines broker's license.  (d) A broker whose license has been revoked shall not be licensed within one (1) year thereafter or until payment of fines or delinquent taxes.
AR Code § 23-65-318 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-318. Action against insurer — Service of process

 (a) When this state is the home state of the insured, an unauthorized insurer may be sued upon any cause of action arising in this state under any contract issued by it as a surplus lines contract, or certificate thereof issued by the surplus lines broker, under the procedure provided in § 23-65-203.  (b)  (1) If this state is the home state of the insured, an unauthorized insurer issuing the policy or accepting the risk shall be deemed to have authorized service of process against it as provided in this section and to have appointed the Insurance Commissioner as its agent for service of process issuing upon any cause of action arising in this state under any policy.  (2) The policy shall contain a provision stating the substance of this section and designating the person to whom the commissioner shall mail process.
AR Code § 23-65-319 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-319. Withdrawal of approval

 (a) The Insurance Commissioner may remove an approved surplus lines insurer if the commissioner has reason to believe that the insurer:  (1) Is in unsound financial condition;  (2) Is no longer eligible under § 23-65-310;  (3) Has willfully violated the laws of this state;  (4) Does not make reasonably prompt payment of just losses and claims in this state or elsewhere; or  (5) Has failed to file its annual statement when due.    (b) The commissioner shall promptly mail notice of removals to each surplus lines broker that is currently licensed.
AR Code § 23-65-320 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 3 - Surplus Lines Insurance Law|§ 23-65-320. Domestic surplus lines insurers

 (a) A domestic insurer possessing policyholder surplus of at least twenty million dollars ($20,000,000) may be:  (1) Designated as a domestic surplus lines insurer with the written approval of the Insurance Commissioner; and  (2) Allowed to write surplus lines insurance in any jurisdiction in which it is eligible.    (b) A domestic surplus lines insurer is:  (1) Deemed a nonadmitted surplus lines insurer in the State of Arkansas; and  (2) Deemed a nonadmitted surplus lines insurer under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203.    (c) A domestic surplus lines insurer is not subject to:  (1) The Arkansas Property and Casualty Insurance Guaranty Act, § 23-90-101 et seq.; or  (2) The Arkansas Life and Health Insurance Guaranty Association Act, § 23-96-101 et seq.    (d) A surplus lines broker that obtains surplus lines insurance from a domestic surplus lines insurer shall comply with § 23-65-315.  (e) Unless specifically exempt, the insurance laws of this state regarding financial and solvency requirements apply to a domestic surplus lines insurer.
AR Code § 23-65-401 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 4 - Multistate Agreements or Compacts|§ 23-65-401. Agreement authorized — Requirements

 (a) The Insurance Commissioner may enter into written multistate agreements or compacts with other state jurisdictions on behalf of the State of Arkansas to provide for cooperation and assistance among member jurisdictions in the administration and collection of taxes imposed on multistate surplus lines insurance.  (b) A multistate agreement or compact authorized by this subchapter may provide for:  (1) Determining the home state for surplus lines insurers and surplus lines brokers;  (2) Establishing the record requirements for surplus lines brokers;  (3) Audit procedures;  (4) The exchange of information;  (5) Uniform criteria for eligibility of insurers and eligibility for licensing of surplus lines brokers;  (6) Reporting requirements and reporting periods;  (7) Methods for collecting and forwarding surplus lines taxes;  (8) Penalties to another jurisdiction; and  (9) Rules to facilitate the administration of the multistate agreement or compact.    (c) A multistate agreement or compact authorized by this subchapter:  (1) Shall not preclude the commissioner from auditing the records of a person subject to this subchapter;  (2) Is not effective until filed with the commissioner; and  (3) Shall have the same effect as enacted legislation.
AR Code § 23-65-402 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 4 - Multistate Agreements or Compacts|§ 23-65-402. Applicability of multistate agreement or compact

 On and after July 21, 2011, the effective date of the Nonadmitted and Reinsurance Reform Act of 2010, Pub. L. No. 111-203, in the event of a conflict, the terms of a multistate agreement or compact shall prevail over conflicting state law.
AR Code § 23-65-403 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 65 - Unauthorized Insurers and Surplus Lines|Subchapter 4 - Multistate Agreements or Compacts|§ 23-65-403. Committees' approval of agreements or compacts required

 A multistate agreement or compact entered into by the Insurance Commissioner shall be:   (1) Considered by the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce; and  (2) Reviewed and approved by the Legislative Council.
AR Code § 23-66-201 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 66 - Trade Practices|Subchapter 2 - Trade Practices Act|§ 23-66-201. Title

 This subchapter may be referred to as the “Trade Practices Act”.
AR Code § 23-66-202 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 66 - Trade Practices|Subchapter 2 - Trade Practices Act|§ 23-66-202. Purpose

 (a) The purpose of this subchapter is to regulate trade practices in the business of insurance in accordance with the intent of the United States Congress as expressed in Pub. L. No. 79-15 by defining, or providing for the determination of, all practices in this state which constitute unfair methods of competition or unfair or deceptive acts or practices and by prohibiting the trade practices so defined or determined.  (b) However, no provisions of this subchapter are intended to establish or extinguish a private right of action for a violation of any provision of this subchapter.
AR Code § 23-66-203 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 66 - Trade Practices|Subchapter 2 - Trade Practices Act|§ 23-66-203. Definitions

 As used in this subchapter:   (1) “Commissioner” means the Insurance Commissioner of this state;  (2)  (A) “Depository institution” means a bank or savings association.  (B) The terms “depository institution” or “depository corporation” do not include an insurance company;    (3) “Insurance policy” or “insurance contract” means any contract of insurance, indemnity, medical or hospital service, suretyship, or annuity which is issued, proposed for issuance, or intended for issuance by any person; and  (4)  (A) “Person” means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including agents, brokers, and adjusters.  (B)  (i) “Person” also means medical service plans and hospital service plans as defined in § 23-75-101.  (ii) For purposes of this subchapter, medical and hospital service plans shall be deemed to be engaged in the business of insurance.
AR Code § 23-66-204 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 66 - Trade Practices|Subchapter 2 - Trade Practices Act|§ 23-66-204. Provisions of subchapter additional to existing law

 The powers vested in the Insurance Commissioner by this subchapter shall be additional to any other powers to order restitution or enforce any penalties, fines, or forfeitures authorized by law with respect to the methods, acts, and practices declared to be unfair or deceptive.
AR Code § 23-66-205 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 66 - Trade Practices|Subchapter 2 - Trade Practices Act|§ 23-66-205. Unfair competition or unfair or deceptive acts or practices prohibited

 No person shall engage in this state in any trade practice which is defined in this subchapter as being, or determined pursuant to this subchapter to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance. This subchapter shall apply to policies and contracts of surplus line insurers, as appropriate and unless the context requires otherwise.
AR Code § 23-66-207 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 66 - Trade Practices|Subchapter 2 - Trade Practices Act|§ 23-66-207. Rules to identify prohibited methods of competition, acts, or practices

 (a) The Insurance Commissioner may, after notice and hearing, promulgate reasonable rules, as are necessary or proper to identify specific methods of competition or acts or practices which are prohibited by § 23-66-206 or § 23-66-312, but the rules shall not enlarge upon or extend the provisions of those sections.  (b) The rules shall be subject to review in accordance with § 23-61-307.