reglab/housing_qa huggingface dataset:
AR Code § 23-69-404 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 69 - Domestic Stock and Mutual Insurers|Subchapter 4 - Risk Management and Own Risk Assessment Act|§ 23-69-404. Risk management framework

 (a) An insurer shall establish and maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on the insurer's material and relevant risks.  (b) An insurer may satisfy subsection (a) of this section if the insurance group that the insurer is a member of maintains a risk management framework that is applicable to the operations of the insurer.
AR Code § 23-69-405 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 69 - Domestic Stock and Mutual Insurers|Subchapter 4 - Risk Management and Own Risk Assessment Act|§ 23-69-405. Own risk and solvency assessment — Requirements

 Except as provided in § 23-69-407, an insurer or the insurance group that the insurer is a member of shall perform an own risk and solvency assessment:   (1) According to the Own Risk and Solvency Assessment Guidance Manual or a comparable process; and  (2) Annually, or at any time a significant change to the risk profile of the insurer or the insurance group of which the insurer is a member occurs.
AR Code § 23-69-406 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 69 - Domestic Stock and Mutual Insurers|Subchapter 4 - Risk Management and Own Risk Assessment Act|§ 23-69-406. Own risk and solvency assessment summary

 (a)  (1)  (A) Upon request, an insurer shall submit to the Insurance Commissioner no more than one (1) time a year beginning January 1, 2017, an own risk and solvency assessment summary report, or any combination of filings applicable to the insurer or the insurance group of which the insurer is a member, that together contain the information described in the Own Risk and Solvency Assessment Guidance Manual.  (B) An insurer may submit a comparable report that provides the most recent and substantially similar information under subdivision (a)(1)(A) of this section to a commissioner in another state or to the supervisor or regulator of a foreign jurisdiction provided by the insurer or another member of an insurance group of which the insurer is a member.    (2) Notwithstanding a request from the Insurance Commissioner, an insurer that is a member of an insurance group shall submit the reports required under subdivision (a)(1) of this section if the Insurance Commissioner is the lead state commissioner of the insurance group as determined by the procedures within the “Financial Analysis Handbook” adopted by the National Association of Insurance Commissioners.    (b) A report described in subdivision (a)(1)(A) of this section shall include an attestation of the chief risk officer or other executive of the insurer or insurance group that is responsible for the oversight of the insurer's enterprise risk management process that to the best of his or her belief and knowledge:  (1) The insurer applies the enterprise risk management process described in the insurer's own risk and solvency assessment summary report; and  (2) A copy of the report has been provided to the insurer's board of directors or other governing body of the insurer.    (c) A report under subdivision (a)(1) of this section shall be in English or translated to English before filing with the Insurance Commissioner.
AR Code § 23-69-408 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 69 - Domestic Stock and Mutual Insurers|Subchapter 4 - Risk Management and Own Risk Assessment Act|§ 23-69-408. Own risk and solvency assessment summary report — Content

 (a)  (1) An own risk and solvency assessment summary report shall be prepared pursuant to the Own Risk and Solvency Assessment Guidance Manual, subject to the requirements of subsection (b) of this section.  (2) An insurer shall maintain any documentation and supporting information used to prepare an own risk and solvency assessment summary report and make the documents and information available upon request of the Insurance Commissioner or during an examination.    (b) An own risk and solvency assessment summary report and any additional requests for information shall be reviewed under similar procedures currently in use during an analysis and examination of multistate or global insurers and insurance groups.
AR Code § 23-69-410 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 69 - Domestic Stock and Mutual Insurers|Subchapter 4 - Risk Management and Own Risk Assessment Act|§ 23-69-410. Sanctions

 (a) An insurer failing without just cause to timely file the own risk and solvency assessment summary report under this subchapter shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay, to be recovered by the Insurance Commissioner, and the penalty so recovered shall be paid into the General Revenue Fund Account of the State Apportionment Fund.  (b) The maximum penalty under this section is ten thousand dollars ($10,000).  (c) The commissioner may reduce the penalty under this section if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
AR Code § 23-74-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 1 - Structure and Purpose|§ 23-74-101. Fraternal benefit society defined

 Any incorporated society, order, or supreme lodge, without capital stock, including one exempted under § 23-74-704(a)(2), whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and which provides benefits in accordance with this chapter, is hereby declared to be a fraternal benefit society.
AR Code § 23-74-102 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 1 - Structure and Purpose|§ 23-74-102. Lodge system

 (a) A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated, or admitted in accordance with its laws, rules, and rituals. Subordinate lodges shall be required by the laws of the society to hold regular meetings at least one (1) time in each month in furtherance of the purposes of the society.  (b) At its option, a society may organize and operate lodges for children under the minimum age for adult membership. Membership and initiation in local lodges shall not be required of such children, nor shall they have a voice or vote in the management of the society.
AR Code § 23-74-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 1 - Structure and Purpose|§ 23-74-103. Representative form of government

 A society has a representative form of government when:   (1) It has a supreme governing body constituted in one (1) of the following ways:  (A) Assembly.  (i)  (a) The supreme governing body is an assembly composed of delegates elected directly by the members or at intermediate assemblies or conventions of members or their representatives, together with other delegates as may be prescribed in the society's laws.  (b) A society may provide for election of delegates by mail.  (c) The elected delegates shall constitute a majority in number and shall not have fewer than two-thirds (2/3) of the votes and not fewer than the number of votes required to amend the society's laws.    (ii)  (a) The assembly shall be elected and shall meet at least one (1) time every four (4) years and shall elect a board of directors to conduct the business of the society between meetings of the assembly.  (b) Vacancies on the board of directors between elections may be filled in the manner prescribed by the society's laws; or      (B) Direct Election.  (i) The supreme governing body is a board composed of persons elected by the members, either directly or by their representatives in intermediate assemblies, and any other persons prescribed in the society's laws.  (ii) A society may provide for election of the board by mail.  (iii) Each term of a board member may not exceed four (4) years.  (iv) Vacancies on the board between elections may be filled in the manner prescribed by the society's laws.  (v) A person filling the unexpired term of an elected board member shall be considered to be an elected member.  (vi) The board shall meet at least quarterly to conduct the business of the society;      (2) The officers of the society are elected either by the supreme governing body or by the board of directors;  (3) Only benefit members are eligible for election to the supreme governing body, the board of directors, or any intermediate assembly; and  (4) Each voting member shall have one (1) vote. No vote may be cast by proxy.
AR Code § 23-74-104 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 1 - Structure and Purpose|§ 23-74-104. Definitions

 As used in this chapter:   (1) “Benefit contract” means the agreement for provision of benefits authorized by § 23-74-401, as that agreement is described in § 23-74-404(a);  (2) “Benefit member” means an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract;  (3) “Certificate” means the document issued as written evidence of the benefit contract;  (4) “Laws” means the society's articles of incorporation, constitution, and bylaws, however designated;  (5) “Lodge” means subordinate member units of the society, known as camps, courts, councils, branches, or by any other designations;  (6) “Premiums” means premiums, rates, dues, or other required contributions by whatever name known, which are payable under the certificate;  (7) “Rules” means all rules, regulations, or resolutions:  (A) Adopted by the supreme governing body or board of directors; and  (B) Which are intended to have general application to members of the society; and    (8) “Society” means fraternal benefit society, unless otherwise indicated.
AR Code § 23-74-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 1 - Structure and Purpose|§ 23-74-105. Purposes and powers

 (a) A fraternal benefit society shall operate for the benefit of members and their beneficiaries by:  (1) Providing benefits as specified in § 23-74-401; and  (2) Operating for one (1) or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purposes for the benefit of its members, which may also be extended to others. These purposes may be carried out directly by the society or indirectly through subsidiary corporations or affiliated organizations.    (b) Every society shall have the power to adopt laws and rules for the government of the society, the admission of its members, and the management of its affairs. It shall have the power to change, alter, add to, or amend such laws and rules and shall have such other powers as are necessary and incidental to carrying into effect the objects and purposes of the society.
AR Code § 23-74-201 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 2 - Membership|§ 23-74-201. Qualifications for membership

 (a) A fraternal benefit society shall specify in its laws or rules:  (1) Eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than fifteen (15) years of age and not greater than twenty-one (21) years of age;  (2) The process for admission to membership for each membership class; and  (3) The rights and privileges of each membership class, provided that only benefit members shall have the right to vote on the management of the insurance affairs of the society.    (b) A society may also admit social members who shall have no voice or vote in the management of the insurance affairs of the society.  (c) Membership rights in the society are personal to the member and are not assignable.
AR Code § 23-74-202 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 2 - Membership|§ 23-74-202. Location of office, meetings, communications to members, grievance procedures

 (a)  (1) The principal office of any domestic society shall be located in this state.  (2)  (A) The meetings of its supreme governing body may be held in any state, district, province, or territory wherein the society has at least five (5) subordinate lodges.  (B) All business transacted at the meetings shall be as valid in all respects as if the meetings were held in this state.  (C) The minutes of the proceedings of the supreme governing body and of the board of directors shall be in the English language.      (b)  (1)  (A) A society may provide in its laws for an official publication in which any notice, report, or statement required by law to be given to members, including notice of election, may be published. The required reports, notices, and statements shall be printed conspicuously in the publication.  (B) If the records of a society show that two (2) or more members have the same mailing address, an official publication mailed to one (1) member is deemed to be mailed to all members at the address unless a member requests a separate copy.    (2) Not later than June 1 of each year, a synopsis of the society's annual statement providing an explanation of the facts concerning the condition of the society thereby disclosed shall be printed and mailed to each benefit member of the society or, in lieu thereof, the synopsis may be published in the society's official publication.    (c) A society may provide in its laws or rules for grievance or complaint procedures for members.
AR Code § 23-74-204 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 2 - Membership|§ 23-74-204. Waiver

 The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members, shall have the power or authority to waive any of the provisions of the laws of the society. Such a provision shall be binding on the society and every member and beneficiary of a member.
AR Code § 23-74-302 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 3 - Governance|§ 23-74-302. Amendments to laws

 (a)  (1) A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body at any regular or special meeting thereof, or, if its laws so provide, by referendum.  (2) The referendum may be held in accordance with the provisions of its laws and by the vote of delegates or representatives of voting members or by the vote of local lodges.  (3) A society may provide for voting by mail.  (4) No amendment submitted for adoption by referendum shall be adopted unless, within six (6) months from the date of the submission thereof, a majority of the members voting shall have signified their consent to the amendment by one (1) of the methods specified in this section.    (b)  (1) No amendment to the laws of any domestic society shall take effect unless approved by the Insurance Commissioner who shall approve the amendment if the commissioner finds that it has been duly adopted and is not inconsistent with any requirement of the laws of this state or with the character, objects, and purposes of the society.  (2) Unless the commissioner disapproves any such amendment within sixty (60) days after the filing of the amendment, the amendment shall be considered approved.  (3)  (A) The approval or disapproval of the commissioner shall be in writing and mailed to the secretary or corresponding officer of the society at its principal office.  (B) In case the commissioner disapproves the amendment, the reasons therefor shall be stated in the written notice.      (c)  (1) Within ninety (90) days from the approval thereof by the commissioner, all such amendments, or a synopsis thereof, shall be furnished to all members of the society either by mail or by publication in full in the official publication of the society.  (2) The affidavit of any officer of the society or of anyone authorized by it to mail any amendments or synopsis thereof, stating facts which show that any amendments or synopsis thereof have been duly addressed and mailed, shall be prima facie evidence that the amendments or synopsis thereof have been furnished the addressee.    (d) Every foreign or alien society authorized to do business in this state shall file with the commissioner a duly certified copy of all amendments of, or additions to, its laws within ninety (90) days after the enactment of the amendments of, or additions to, its laws.  (e) Printed copies of the laws as amended, certified by the secretary or corresponding officer of the society, shall be prima facie evidence of the legal adoption thereof.
AR Code § 23-74-303 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 3 - Governance|§ 23-74-303. Institutions

 A society may create, maintain, and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by § 23-74-105(a)(2). Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held, or leased by the society for this purpose shall be reported in every annual statement, but shall not be allowed as an admitted society asset. No society shall own or operate funeral homes or undertaking establishments.
AR Code § 23-74-304 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 3 - Governance|§ 23-74-304. Reinsurance

 (a) By a reinsurance agreement, a domestic society may cede any individual risk or risks in whole or in part to an insurer, other than another fraternal benefit society, having the power to make the reinsurance and authorized to do business in this state, or if not so authorized, one which is approved by the Insurance Commissioner, but no such society may reinsure substantially all of its insurance in force without the written permission of the commissioner. It may take credit for the reserves on the ceded risks to the extent reinsured, but no credit shall be allowed as an admitted asset or as a deduction from liability to a ceding society for reinsurance made, ceded, renewed, or otherwise becoming effective after January 1, 1990, unless the reinsurance is payable by the assuming insurer on the basis of the liability of the ceding society under the contract or contracts reinsured without diminution because of the insolvency of the ceding society.  (b) Notwithstanding the limitation in subsection (a) of this section, a society may reinsure the risks of another society in a consolidation or merger approved by the commissioner under § 23-74-305.
AR Code § 23-74-306 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 3 - Governance|§ 23-74-306. Conversion of fraternal benefit society into mutual life insurance company

 Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the requirements of §§ 23-63-205 and 23-63-207 and other provisions of this code applicable to domestic mutual life legal reserve insurers. A plan of conversion shall be prepared in writing by the board of directors setting forth in full the terms and conditions of conversion. The affirmative vote of two-thirds (2/3) of all members of the supreme governing body at a regular or special meeting shall be necessary for the approval of such a plan. No such conversion shall take effect unless and until approved by the Insurance Commissioner, who may give such approval if the commissioner finds that the proposed change is in conformity with the requirements of law and not prejudicial to the certificate holders of the society.
AR Code § 23-74-401 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 4 - Contractual Benefits|§ 23-74-401. Benefits

 (a) A society may provide the following contractual benefits in any form:  (1) Death benefits;  (2) Endowment benefits;  (3) Annuity benefits;  (4) Temporary or permanent disability benefits;  (5) Hospital, medical, or nursing benefits;  (6) Monument or tombstone benefits to the memory of deceased members; and  (7) Such other benefits as authorized for life insurers and which are not inconsistent with this chapter.    (b) A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (a) of this section, consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.
AR Code § 23-74-402 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 4 - Contractual Benefits|§ 23-74-402. Beneficiaries

 (a)  (1) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or rules of the society unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevocable.  (2) Through its laws or rules, a society may limit the scope of beneficiary designations and shall provide that no revocable beneficiary shall have or obtain any vested interest in the proceeds of any certificate until the certificate has become due and payable in conformity with the provisions of the benefit contract.    (b) A society may make provision for the payment of funeral benefits to the extent of such portion of any payment under a certificate as might reasonably appear to be due to any person equitably entitled thereto by reason of having incurred expense occasioned by the burial of the member.  (c) If, at the death of any member, there is no lawful beneficiary to whom the insurance benefits are payable, the amount of such benefits, except to the extent that funeral benefits may be paid as provided in subsection (b) of this section, shall be payable to the personal representative of the deceased insured. However, if the owner of the certificate is other than the insured, the proceeds shall be payable to such an owner.
AR Code § 23-74-403 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 74 - Fraternal Benefit Societies|Subchapter 4 - Contractual Benefits|§ 23-74-403. Benefits not attachable

 No money or other benefit, charity, relief, or aid to be paid, provided, or rendered by any society shall be liable to attachment, garnishment, or other process, or to be seized, taken, appropriated, or applied by any legal or equitable process or operation of law to pay any debt or liability of a member or beneficiary, or any other person who may have a right thereunder, either before or after payment by the society.