reglab/housing_qa huggingface dataset:
AR Code § 23-63-1507 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 15 - Risk-Based Capital Requirements for Health Maintenance Organizations|§ 23-63-1507. Hearings

 On the occurrence of the following events the health organization shall have the right to a confidential departmental hearing, on a record, at which the health organization may challenge a determination or action by the Insurance Commissioner. The health organization shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subdivisions (1)-(4) of this section. On receipt of the health organization's request for a hearing, the commissioner shall set a date for the hearing which shall be no less than ten (10) nor more than thirty (30) days after the date of the health organization's request. The events include:   (1) The notification to a health organization by the commissioner of an adjusted RBC report;  (2) The notification to a health organization by the commissioner that:  (A) The health organization's RBC plan or revised RBC plan is unsatisfactory; and  (B) The notification constitutes a regulatory action level event with respect to the health organization;    (3) The notification to a health organization by the commissioner that the health organization has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event with respect to the health organization according to its RBC plan or revised RBC plan; or  (4) The notification to a health organization by the commissioner of a corrective order with respect to the health organization.
AR Code § 23-63-1509 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 15 - Risk-Based Capital Requirements for Health Maintenance Organizations|§ 23-63-1509. Supplemental provisions — Rules — Exemption

 (a) The provisions of this subchapter are supplemental to the other provisions of the laws of this state and shall not preclude or limit any other powers or duties of the Insurance Commissioner under those laws.  (b) The commissioner may adopt reasonable rules necessary for the implementation of this subchapter.  (c) The commissioner may exempt from the application of this subchapter:  (1) A domestic health organization that:  (A) Writes direct business only in this state;  (B) Assumes no reinsurance in excess of five percent (5%) of direct premium written; and  (C) Writes direct annual premiums for comprehensive medical business of two million dollars ($2,000,000) or less; or    (2) A domestic health organization that is a limited benefit health maintenance organization.
AR Code § 23-63-1510 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 15 - Risk-Based Capital Requirements for Health Maintenance Organizations|§ 23-63-1510. Foreign health organizations

 (a)  (1) On the written request of the Insurance Commissioner, a foreign health organization shall submit to the commissioner an RBC report as of the end of the calendar year just ended that is the later of:  (A) The date an RBC report would be required to be filed by a domestic health organization under this subchapter; or  (B) Fifteen (15) days after the request is received by the foreign health organization.    (2) At the written request of the commissioner, a foreign health organization shall promptly submit to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state.    (b) In the event of a company action level event, regulatory action level event, or authorized control level event with respect to a foreign health organization as determined under the RBC statute applicable in the state of domicile of the health organization or, if no RBC statute is in force in that state, under this subchapter, if the insurance commissioner of the state of domicile of the foreign health organization fails to require the foreign health organization to file an RBC plan in the way specified under that state's RBC statute or, if no RBC statute is in force in that state, under § 23-63-1503 the commissioner may require the foreign health organization to file an RBC plan with the commissioner. In this event, the failure of the foreign health organization to file an RBC plan with the commissioner shall be grounds to order the health organization to cease and desist from writing new insurance business in this state.  (c) In the event of a mandatory control level event with respect to a foreign health organization, if no domiciliary receiver has been appointed with respect to the foreign health organization under the rehabilitation and liquidation statutes applicable in the state of domicile of the foreign health organization, the commissioner may make application under the Uniform Insurers Liquidation Act, §§ 23-68-101, 23-68-102(2)-(13), 23-68-104, 23-68-105, 23-68-113, and 23-68-115 — 23-68-120, with respect to the liquidation of property of foreign health organizations found in this state, and the occurrence of the mandatory control level event is considered adequate grounds for the application.
AR Code § 23-63-1511 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 15 - Risk-Based Capital Requirements for Health Maintenance Organizations|§ 23-63-1511. Immunity

 There shall be no liability by and no cause of action shall arise against the Insurance Commissioner or the State Insurance Department or its employees or agents for any action taken by them in the performance of their powers and duties under this subchapter.
AR Code § 23-63-1512 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 15 - Risk-Based Capital Requirements for Health Maintenance Organizations|§ 23-63-1512. Notices

 A notice by the Insurance Commissioner to a health organization that may result in regulatory action under this subchapter is effective upon:   (1) Dispatch if transmitted by certified mail; or  (2) The health organization's receipt of notice in the case of any other transmission.
AR Code § 23-63-1513 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 15 - Risk-Based Capital Requirements for Health Maintenance Organizations|§ 23-63-1513. Penalties and liabilities

 (a) If the Insurance Commissioner finds after a hearing conducted in accordance with § 23-61-301 et seq. that a health organization has violated this subchapter, the commissioner may order:  (1) For each separate violation, a penalty of one thousand dollars ($1000) or, if the commissioner has found willful misconduct or willful violation, five thousand dollars ($5,000); and  (2) Revocation or suspension of the health organization's license.    (b) The decision, determination, or order of the commissioner under subsection (a) of this section shall be subject to judicial review pursuant to § 23-61-307.  (c) This section does not affect the right of the commissioner to impose any other penalties provided for in the insurance laws of this state.
AR Code § 23-63-1603 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1603. Similar names

 A captive insurance company may not adopt a name that is the same as, deceptively similar to, or likely to be confused with or mistaken for, any other existing business name registered in this state.
AR Code § 23-63-1607 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1607. Reporting

 (a) A captive insurance company shall not be required to make an annual report, except as provided under this subchapter.  (b)  (1) Before March 1 of each year, or within an extension of time that, upon good cause shown, has been granted by the Insurance Commissioner, a captive insurance company shall submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers.  (2)  (A) Except as provided in §§ 23-63-1604 and 23-63-1605, a captive insurance company shall report using generally accepted accounting principles unless the commissioner approves the use of statutory accounting principles.  (B) The commissioner may require, approve, or accept appropriate modifications or adaptations for the type of insurance and kinds of insurers to be reported upon, supplemented by additional information.    (3)  (A) Unless provided otherwise, an association captive insurance company and an industrial insured group shall file their reports in the form required by § 23-63-216(a).  (B) The commissioner shall prescribe by rule the forms in which producer reinsurance captive insurance companies, pure captive insurance companies, and industrial insured captive insurance companies shall report.      (c) A producer reinsurance captive insurance company or a pure captive insurance company may apply to file the required report on a fiscal year-end that is consistent with the parent company's fiscal year. If an alternative reporting date is granted:  (1) The annual report is due no later than sixty (60) days after the fiscal year-end; and  (2) In order to provide sufficient detail to support the premium tax return, the pure captive insurance company shall file before March 1 of each year for each calendar year-end pages one (1), two (2), three (3), and five (5) of the “Captive Annual Statement: Pure or Industrial Insured”, verified by oath of two (2) of its executive officers.    (d)  (1) Sixty (60) days after the fiscal year-end, a branch captive insurance company shall file with the commissioner a copy of all reports and statements required to be filed under the laws of the jurisdiction in which the alien captive insurance company is formed, verified by oath by two (2) of its executive officers.  (2)  (A) If the commissioner is satisfied that the annual report filed by the alien captive insurance company in its domiciliary jurisdiction provides adequate information concerning the financial condition of the alien captive insurance company, the commissioner may waive the requirement for completion of the captive annual statement for business written in the alien jurisdiction.  (B) The waiver must be in writing and subject to public inspection.
AR Code § 23-63-1609 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1609. Suspension and revocation

 (a) The license of a captive insurance company to conduct an insurance business in this state may be penalized, suspended, or revoked by the Insurance Commissioner for:  (1) Insolvency or impairment of capital or surplus;  (2) Failure to meet the requirements of §§ 23-63-1604 and 23-63-1605;  (3) Refusal or failure to submit an annual report, as required by § 23-63-1607, or any other report or statement required by law or by lawful order of the commissioner;  (4) Failure to comply with its own charter, bylaws, or other organizational document;  (5) Failure to submit to examination or any legal obligation relative to an examination, as required by § 23-63-1608;  (6) Refusal or failure to pay the cost of examination as required by § 23-63-1608;  (7) Use of methods that, although not specifically prohibited by law, render its operation detrimental or its condition unsound with respect to the public or to its policyholders; or  (8) Failure to comply with the laws of this state.    (b) If upon examination, hearing, or other evidence the commissioner finds that a captive insurance company has committed any of the acts specified in subsection (a) of this section, the commissioner may penalize, suspend, or revoke the license if the commissioner considers it in the best interest of the public and the policyholders of the captive insurance company.
AR Code § 23-63-1610 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1610. Investments

 (a)  (1) Except as provided in § 23-63-1614, an association captive insurance company, a producer reinsurance captive insurance company, a sponsored captive insurance company, and an industrial insured group shall comply with the investment requirements contained in the Arkansas Insurance Code.  (2) The Insurance Commissioner may approve the use of alternative reliable methods of valuation and rating.    (b)  (1) A pure captive insurance company or industrial insured captive insurance company is not subject to any restrictions on allowable investments contained in the Arkansas Insurance Code.  (2) The commissioner may prohibit or limit an investment that threatens the solvency or liquidity of the company.    (c)  (1) Only a pure captive insurance company may make loans to its parent company or affiliates, with the prior written approval of the commissioner and evidenced by a note in a form approved by the commissioner.  (2) Loans of minimum capital and surplus funds required by §§ 23-63-1604(a) and 23-63-1605(a) are prohibited.    (d) Notwithstanding the provisions of § 23-63-1620, the assets of two (2) or more protected cells may be combined for purposes of investment, and the combination does not defeat the segregation of such assets for accounting or other purposes.  (e)  (1) Sponsored captive insurance companies shall comply with the investment requirements contained in § 23-63-801 et seq., as applicable.  (2) However, compliance with the investment requirements shall be waived for sponsored captive insurance companies to the extent that credit for reinsurance ceded to reinsurers is allowed under § 23-63-1611 or to the extent otherwise deemed reasonable and appropriate by the commissioner.    (f) Unless the commissioner requires or finds another method of valuation that is not inconsistent with the valuation method promulgated by the National Association of Insurance Commissioners and is reasonable under the circumstances, the valuation procedures established by the National Association of Insurance Commissioners shall apply to sponsored captive insurance companies except to the extent the valuation procedures are inconsistent with approved accounting standards in use by the company.  (g) Notwithstanding any other provision of this subchapter, the commissioner may approve the use of alternative reliable methods of valuation and rating.
AR Code § 23-63-1611 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1611. Reinsurance

 (a) A captive insurance company may provide reinsurance under the Arkansas Insurance Code, on risks ceded by any other insurer.  (b) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers that are:  (1) Complying with § 23-62-305(a)-(f); or  (2) Not complying with § 23-62-305(a)-(f) upon approval of the captive insurance company's business plan by the Insurance Commissioner.
AR Code § 23-63-1612 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1612. Rating organizations

 A captive insurance company may not be required to join a rating organization.
AR Code § 23-63-1613 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1613. Pools, plans, associations, and guaranty or insolvency funds

 (a) A captive insurance company, including a captive insurance company organized as a reciprocal insurer under this subchapter, shall not join or contribute financially to a plan, pool, association, or guaranty or insolvency fund in this state.  (b) A captive insurance company, its insured, its parent, any affiliated company, any member organization of its association or, in the case of a captive insurance company organized as a reciprocal insurer, a subscriber of the company shall not receive a benefit from a plan, pool, association, or guaranty or insolvency fund for claims arising out of the operations of the captive insurance company.
AR Code § 23-63-1615 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1615. Rules

 (a) The Insurance Commissioner may promulgate rules relating to captive insurance companies as are necessary to carry out this subchapter.  (b)  (1) The commissioner may promulgate rules establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the pure captive insurance company or participant in a sponsored captive insurance company.  (2) Prior to these rules' being promulgated, the commissioner may grant, by temporary order, authority to a pure captive insurance company to insure risks.
AR Code § 23-63-1617 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1617. Reorganizations, receiverships, and injunctions

 Except as provided in this subchapter, the terms and conditions in the Arkansas Insurance Code pertaining to insurance reorganizations, receiverships, and injunctions apply to captive insurance companies formed or licensed under this subchapter.
AR Code § 23-63-1618 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1618. Availability of funds

 In the case of a producer reinsurance captive insurance company or a sponsored captive insurance company:   (1) The assets of the protected cell may not be used to pay any expenses or claims other than those attributable to the protected cell; and  (2) Its capital and surplus must be available to pay any expenses of or claims against the captive insurance company at all times.
AR Code § 23-63-1621 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1621. Participants

 (a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a sponsored captive insurance company formed or licensed under this subchapter.  (b) A sponsor may be a participant in a sponsored captive insurance company.  (c) A participant need not be a shareholder of the sponsored captive insurance company or an affiliate of the company.  (d) A participant shall not insure any risks other than its own, its affiliated entities, or of controlled unaffiliated entities.
AR Code § 23-63-1622 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1622. Producer reinsurance protected cell requirements

 A producer reinsurance captive insurance company formed or licensed under this subchapter may establish and maintain one (1) or more protected cells to insure risks, subject to the following conditions:   (1) Each protected cell must be accounted for separately on the books and records of the producer reinsurance captive insurance company to reflect the financial condition, results of operations of the protected cell, net income or loss, dividends or other distributions, and other factors as may be required by the commissioner;  (2) The assets of a protected cell must not be chargeable with liabilities arising out of any other insurance business the producer reinsurance captive insurance company may conduct;  (3) No sale, exchange, or other transfer of assets may be made by the producer reinsurance captive insurance company between or among any of its protected cells without the consent of the protected cells;  (4) A producer reinsurance captive insurance company shall file annually the financial reports the Insurance Commissioner requires, which shall include, but are not limited to, accounting statements detailing the financial experience of each protected cell; and  (5) A producer reinsurance captive insurance company shall notify the commissioner in writing within ten (10) business days of a protected cell that is insolvent or unable to meet its claim or expense obligations.
AR Code § 23-63-1623 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 63 - Insurance Companies Generally|Subchapter 16 - Licensing and Regulation of Captive Insurers|§ 23-63-1623. Certificate of authority

 A licensed captive insurance company that meets the necessary requirements of the Arkansas Insurance Code, imposed upon an insurer may be considered for issuance of a certificate of authority to act as an insurer in this state.