reglab/housing_qa huggingface dataset:
AR Code § 23-63-834 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 8 - Investments|§ 23-63-834. Cancellation of treasury stock

 (a) By resolution of its board of directors, any legal reserve life insurance company may cancel at any time all or any part of its treasury shares.  (b)  (1) In such an event, a statement of cancellation shall be filed as provided in this section.  (2) Any statement of cancellation shall be executed and filed in accordance with the provisions of § 23-69-107(c), shall be verified by one (1) of the officers signing the statement, and shall set forth:  (A) The name of the insurance company;  (B) The number of treasury shares cancelled by resolution duly adopted by the board of directors, itemized by classes and series, and the date of its adoption;  (C) The aggregate number of issued shares, itemized by classes and series, after giving effect to the cancellation;  (D) The amount, expressed in dollars, of the paid-up capital of the insurance company, after giving effect to the cancellation; and  (E) A copy of the resolution effecting the cancellation.    (3) When a statement of cancellation is filed in accordance with § 23-69-107(c), the paid-up capital of the insurance company shall be deemed to be reduced by that part of the paid-up capital which was, at the time of the cancellation, represented by the shares so cancelled, and the shares so cancelled shall be restored to the status of authorized but unissued shares.    (c) Nothing contained in this section shall be construed to forbid a cancellation of shares or a reduction of stated capital in any other manner permitted by § 23-69-107.
AR Code § 23-63-835 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 8 - Investments|§ 23-63-835. Investments of foreign insurers

 (a) The investments of a foreign or alien insurer shall be as permitted by the laws of its domicile but shall be of a quality substantially as high as those required under this subchapter for similar funds of like domestic insurers.  (b) For the purposes of this section, the domicile of an alien insurer shall be as provided in § 23-63-104.
AR Code § 23-63-836 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 8 - Investments|§ 23-63-836. Certificates of deposit

 An insurer may invest in certificates of deposit or similar depository instruments issued by any bank, bank and trust company, savings bank, national bank association, savings and loan association incorporated under the laws of a state, or federal savings and loan association incorporated under the laws of the United States.
AR Code § 23-63-837 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 8 - Investments|§ 23-63-837. Property and facilities for fossil or synthetic fuel production

 (a) An insurer may invest in property and facilities, and any interests and rights in properties and facilities, for the development and production of fossil or synthetic fuel or other minerals, including, but not limited to, investments relating to:  (1) The exploration for and development and production of those fuels and minerals; and  (2) Ownership and control of the property, facilities, interests, and rights.    (b) Investment in property and facilities, and any interests and rights in the properties and facilities for the development and production of fossil or synthetic fuel or other minerals under this section shall not exceed two percent (2%) of the insurer's assets.
AR Code § 23-63-839 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 8 - Investments|§ 23-63-839. Negotiable bills of exchange or time drafts

 An insurer may invest in negotiable bills of exchange or time drafts issued and unconditionally guaranteed by any bank, bank and trust company, national bank association, or domestic branch or agency of a foreign bank subject to reserve requirements under section 7 of the International Banking Act of 1978, as amended, provided that:   (1) The underlying transaction involves a trade financing and has a maturity no longer than six (6) months sight to run exclusive of days of grace;  (2) The insurer invests not more than twenty-five percent (25%) of its assets in bankers acceptances; and  (3) The insurer invests not more than ten percent (10%) of its assets in any one (1) bankers acceptance in any one (1) financial institution.
AR Code § 23-63-840 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 8 - Investments|§ 23-63-840. Mortgage-backed securities

 (a) An insurer may invest in mortgage-backed securities, including without limitation collateralized mortgage obligations and other obligations for the payment of money secured by participation certificates or loans secured, directly or indirectly, by real estate mortgages or deeds of trust if, at the time the investment is made:  (1) The entity issuing the obligation is not in default in the payment of interest on the obligation;  (2) The specific investment within that collateralized mortgage obligation is not a zero coupon class, residual interest, or a class designated as principal or interest only;  (3)  (A) The obligation, participation certificate, or loan is fully guaranteed or insured, as to principal and interest, by the United States, an agency or instrumentality of the United States, or any state or territory of the United States or any agency thereof.  (B) The aggregate value of any one (1) issue of an obligation under subdivision (a)(3)(A) of this section shall not exceed five percent (5%) of the insurer's admitted assets; or    (4)  (A) The obligation, participation certificate, or loan is held by the issuer directly or through a trustee for the benefit of the obligee.  (B) The aggregate value of any one (1) issue of an obligation under subdivision (a)(4)(A) of this section shall not exceed three percent (3%) of the insurer's admitted assets.      (b)  (1) The aggregate value of an insurer's investments under subdivision (a)(3)(A) of this section shall not exceed fifty percent (50%) of the insurer's admitted assets.  (2) The aggregate value of an insurer's investments under subdivision (a)(4)(A) of this section shall not exceed fifteen percent (15%) of the insurer's admitted assets unless the insurer received prior approval from the Insurance Commissioner for a specified amount not to exceed thirty percent (30%) of the insurer's admitted assets.    (c) An insurer may invest up to ten percent (10%) of its assets in zero coupon, residual interest, or principal-and-interest-only classes of mortgage-backed securities if the underlying mortgages pledged to the repayment of principal and interest of the mortgage-backed securities are unconditionally guaranteed as to timely repayment of principal and interest by the United States or any agency or instrumentality of the United States.  (d) For purposes of the “one person” diversification restriction under § 23-63-805(1), mortgage-backed securities issued by the United States or any agency or instrumentality of the United States shall not be considered investments in or loans upon the security of the obligations, property, or securities of the United States or any agency or instrumentality of the United States.
AR Code § 23-63-842 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 8 - Investments|§ 23-63-842. Asset-backed securities — Definitions

 (a) As used in this section:  (1)  (A) “Asset-backed security” means any security or other instrument representing or evidencing an interest in, a loan to, a participation in a loan to, or any other right to receive payments from a borrower included in a pool of obligations held by an issuer that has a primary business activity of the acquisition and holding of financial assets, directly or through a trustee, for the benefit of the issuer.  (B) “Asset-backed security” does not include an investment authorized by any other provision of this subchapter; and    (2) “Financial asset” means a single asset or a pool of assets consisting of interest-bearing obligations or other contractual obligations representing or constituting the right to receive payment from the asset or pool of assets.    (b)  (1) An insurer may invest in asset-backed securities if the investment in any one (1) issue of asset-backed securities does not exceed two percent (2%) of the admitted assets of the investing insurance company as shown by the insurer's last annual statement or a recent quarterly financial statement filed with the Insurance Commissioner.  (2) Each issue secured by a unique pool of assets shall constitute a single issue regardless of any other obligations or securities issued by the same or any affiliated issuer.    (c) Investments in asset-backed securities under subsection (b) of this section shall not exceed twenty percent (20%) of the insurer's admitted assets.
AR Code § 23-63-901 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-901. Authorized deposits of insurers

 The following deposits of insurers when made through the Insurance Commissioner shall be accepted and held, and shall be subject to the provisions of this subchapter:   (1) Deposits required under the Arkansas Insurance Code for authority to transact insurance in this state;  (2) Deposits of domestic insurers when made pursuant to the laws of other states, provinces, and countries as requirement for authority to transact insurance in that state, province, or country;  (3) Deposits of reserves made by domestic life insurers under § 23-81-130;  (4) Deposits in such additional amounts as are permitted to be made under § 23-63-908.
AR Code § 23-63-902 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-902. Purpose

 Deposits shall be held for purposes as follows:   (1) Deposits made in this state under § 23-63-206 shall be held for the purposes stated in that section;  (2) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country and as required by the laws of that state, province, or country shall be held for the protection of the insurer's policyholders, or policyholders and creditors;  (3) Deposits of reserves made by domestic life insurers under § 23-81-130 shall be held for the common benefit of all the holders of its life insurance policies and annuity contracts; and  (4) Deposits required pursuant to the retaliatory provisions, §§ 23-63-102 — 23-63-104, shall be held for such purposes as required by such laws and as specified in the Insurance Commissioner's order requiring the deposit.
AR Code § 23-63-903 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-903. Eligible securities

 (a) All deposits required under § 23-63-206 for authority to transact insurance in this state shall consist of certified checks or certificates of deposit, or any combination of securities, the market value of which is readily ascertainable and, if negotiable by delivery or assignment, of the kinds described in the following sections of the Arkansas Insurance Code:  (1) Section 23-63-806, United States Government obligations;  (2) Section 23-63-808, state, county, municipal, and school obligations;  (3) Section 23-63-809, municipal or county utilities;  (4) Section 23-63-811, local industrial development bonds;  (5) Section 23-63-813, international banks; and  (6) Section 23-63-814, corporate bonds and debentures.    (b) All deposits required of a domestic insurer pursuant to the laws of another state, province, or country shall be composed of securities, if negotiable by delivery or assignment, of the kinds required or permitted by the laws of the state, province, or country, except common stocks, mortgages of any kind, and real estate.  (c) Deposits of the reserves of a domestic life insurer under § 23-81-130 shall consist of securities, if negotiable by delivery or assignment, and assets eligible for investment of the insurer's reserves under § 23-63-805(3).  (d) Deposits of foreign insurers made in this state under the retaliatory provision, §§ 23-63-102 — 23-63-104, shall consist of such assets as are required by the Insurance Commissioner pursuant to the provision.
AR Code § 23-63-904 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-904. Depositary or custodian

 (a) Deposits made under the Arkansas Insurance Code shall be made through the office of the Insurance Commissioner in safe deposit or under custodial arrangements as required or approved by the commissioner consistent with the purposes of the deposit with an established safe deposit institution, bank, or trust company, or under other safekeeping arrangements, located in this state, and selected by the insurer with the commissioner's approval.  (b) Except in the presence of the commissioner or his or her authorized representative, the insurer shall not have access to any securities or assets representing its deposits so held in safe deposit.  (c) The form and terms of all depositary or custodial agreements shall be as prescribed or approved by the commissioner consistent with the applicable provisions of the Arkansas Insurance Code.  (d) The compensation and expenses of the depositary or custodian shall be borne by the insurer.
AR Code § 23-63-905 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-905. Record — Liability of commissioner and state

 (a) The Insurance Commissioner shall keep a record of the securities and assets comprising each deposit and of all his or her transactions relative thereto, showing by item the amount and market value.  (b) The commissioner and the State of Arkansas shall have no liability as to the safekeeping of any deposit by the depositary or custodian.
AR Code § 23-63-906 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-906. Assignment or conveyance of securities or assets — Appraisal

 (a)  (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130, shall be assigned to the Insurance Commissioner and his or her successors in office.  (2) All other assets so deposited shall be transferred or conveyed to the commissioner.  (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer.    (b) The commissioner may, in his or her discretion, prior to acceptance for deposit of any security or asset, or at any time thereafter while so deposited, have the security or asset appraised or valued by competent appraisers. The reasonable costs of the appraisal or valuation shall be borne by the insurer.
AR Code § 23-63-907 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-907. Rights of insurer during solvency

 So long as the insurer remains solvent and is in compliance with the Arkansas Insurance Code, it may:   (1) Demand, receive, sue for, and recover the income from the securities or assets deposited;  (2) Exchange and substitute for the deposited securities or assets, or any part thereof, other eligible securities and assets of equivalent or greater value; and  (3) At any reasonable time inspect the deposit.
AR Code § 23-63-908 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-908. Excess deposits

 (a) An insurer may so deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under the Arkansas Insurance Code by not more than twenty percent (20%) of the required or permitted deposit or one hundred thousand dollars ($100,000), whichever is the larger amount, for the purpose of absorbing fluctuations in the value of securities and assets deposited and to facilitate the exchange and substitution of such securities and assets.  (b)  (1) During the solvency of the insurer, any excess shall be released to the insurer upon its request.  (2) During the insolvency of the insurer, the excess deposit shall be released only as provided in § 23-63-911(b)(3).
AR Code § 23-63-909 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-909. Payment of claims

 (a)  (1)  (A) If any insurer which has made the deposit in this state pursuant to § 23-63-206 fails to pay promptly any final judgment entered against it in favor of a citizen of this state, the Insurance Commissioner is authorized to sell at public or private sale, after forty-five (45) days' notice to the insurer by certified mail, a sufficient amount of securities to pay the claim.  (B) As used in this section, “final judgment” means any judgment issued by a court of record and the enforcement or execution of which has not been stayed by a court of competent jurisdiction.    (2) Except as provided in this section and as otherwise provided in the Arkansas Insurance Code, no deposit made in this state pursuant to § 23-63-206 by any insurer shall be subject to garnishment, levy, or execution.    (b)  (1) The commissioner, under procedures he or she shall prescribe, may release to the insurer any part of the special additional four percent (4%) accident and health deposit formerly required under § 23-63-206.  (2) For good cause, the commissioner may in writing exempt insurers from filing replacement deposits for any line of insurance, including, but not limited to, statutory deposits for discontinued lines of insurance.
AR Code § 23-63-910 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-910. Deficiency

 (a)  (1) If for any reason the market value of assets and securities of an insurer held on deposit in this state under § 23-63-206 or under the retaliatory provision, §§ 23-63-102 — 23-63-104, falls below the amount so required, then the insurer shall promptly deposit other or additional assets or securities eligible for deposit sufficient to cure the deficiency.  (2) If the insurer has failed to cure the deficiency within thirty (30) days after receipt of notice of deficiency by registered mail from the Insurance Commissioner, the commissioner shall revoke the insurer's certificate of authority.    (b)  (1) If for any reason the market value of assets and securities of a domestic life insurer, representing deposit of the reserves of certain of its outstanding policies and annuity contracts under § 23-81-130, falls below the amount so required and as determined from the insurer's most recent annual statement or most recent examination of the insurer by the commissioner, then the insurer shall promptly deposit other or additional assets or securities eligible for deposit sufficient to cure the deficiency.  (2) If the insurer has failed to cure the deficiency, after the commissioner has given the insurer notice of deficiency by registered mail, within such reasonable time, not exceeding ninety (90) days, as may be allowed by the commissioner and so specified in his or her notice, the insurer shall be deemed to be insolvent. The commissioner shall then revoke its certificate of authority and institute delinquency proceedings against the insurer under §§ 23-68-101 — 23-68-113 and 23-68-115 — 23-68-132.
AR Code § 23-63-911 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 9 - Deposits|§ 23-63-911. Duration and release of deposit generally

 (a) Subject to the right of the insurer to substitute securities as provided in § 23-63-907, all deposits in this state under § 23-63-206 shall be left on deposit as long as there is outstanding any liability of the insurer with respect to which the deposit was made.  (b) Any deposit referred to in subsection (a) of this section, or any deposit made under the retaliatory provision, §§ 23-63-102 — 23-63-104, or under any other provision of the Arkansas Insurance Code other than § 23-81-130, shall be released and returned:  (1) To the insurer upon the extinguishment by reinsurance, or otherwise, of all liability of the insurer for the security of which the deposit is held;  (2) To the insurer, during solvency, to the extent the deposit is in excess of the amount required; or  (3) Upon proper order of a court of competent jurisdiction in this state, to the ancillary receiver of the insurer in this state or to the domiciliary receiver, conservator, rehabilitator, liquidator of the insurer, or to any other properly designated official who succeeds to the management and control of the insurer's assets.