reglab/housing_qa huggingface dataset:
AR Code § 23-81-804 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-804. License suspension, revocation, or refusal to renew

 (a) The Insurance Commissioner may suspend, revoke, or refuse to renew the license of any licensee if the commissioner finds that:  (1) There was any material misrepresentation in the application for the license;  (2) The licensee or any officer, partner, member, or director has been guilty of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy or incompetent to act as a licensee;  (3) The provider demonstrates a pattern of unreasonably withholding payments to policy owners;  (4) The licensee no longer meets the requirements for initial licensure;  (5) The licensee or any officer, partner, member, or director has been convicted of a felony or of any misdemeanor of which criminal fraud is an element or the licensee has pleaded guilty or nolo contendere with respect to any felony or any misdemeanor of which criminal fraud or moral turpitude is an element, regardless of whether a judgment of conviction has been entered by the court;  (6) The provider has entered into any life settlement contract using a form that has not been approved pursuant to this subchapter;  (7) The provider has failed to honor contractual obligations set out in a life settlement contract;  (8) The provider has assigned, transferred, or pledged a settled policy to a person other than a provider licensed in this state, a purchaser, or an accredited investor or qualified institutional buyer as defined in, respectively, Regulation D, Rule 501, or Rule 144A of the Securities Act of 1933, as amended, a financing entity, a special purpose entity, or a related provider trust; or  (9) The licensee or any officer, partner, member, or key management personnel has violated provisions of this subchapter.    (b)  (1) The commissioner may deny a license application or suspend, revoke, or refuse to renew a license of a licensee for the licensee's failure to comply with this subchapter.  (2) A proceeding under this subsection is subject to the Arkansas Administrative Procedure Act, § 25-15-201 et seq.
AR Code § 23-81-805 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-805. Contract requirements

 (a) A person shall not use any form of life settlement contract in this state unless it has been filed with and approved, if required, by the Insurance Commissioner in a manner that conforms with the filing procedures and any time restrictions or deeming provisions, if any, for life insurance forms, policies, and contracts.  (b) An insurer shall not as a condition of responding to a request for verification of coverage or in connection with the transfer of a policy pursuant to a life settlement contract require that the owner, insured, provider, or broker sign any form, disclosure, consent, waiver, or acknowledgment that has not been expressly approved by the commissioner for use in connection with life settlement contracts in this state.  (c)  (1) A person shall not use a life settlement contract form or provide to an owner a disclosure statement form in this state unless first filed with and approved by the commissioner.  (2) The commissioner shall disapprove a life settlement contract form or disclosure statement form if, in the commissioner's opinion, the contract or provisions contained in the life settlement contract form or disclosure statement form fail to meet the requirements of §§ 23-81-808 — 23-81-811 and § 23-81-815(b) or are unreasonable, contrary to the interests of the public, or otherwise misleading or unfair to the owner.  (3) At the commissioner's discretion, the commissioner may require the submission of advertising material.
AR Code § 23-81-808 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-808. Advertising

 (a)  (1) A broker or provider licensed pursuant to this subchapter may conduct or participate in advertisements within this state.  (2) Advertisements shall comply with all advertising and marketing laws or rules promulgated by the Insurance Commissioner that are applicable to life insurers or to brokers and providers licensed pursuant to this subchapter.    (b) Advertisements shall be accurate, truthful, and not misleading in fact or by implication.  (c) A person or trust shall not:  (1) Directly or indirectly market, advertise, solicit, or otherwise promote the purchase of a policy for the sole purpose of or with an emphasis on settling the policy; or  (2) Use the words “free”, “no cost”, or words of similar import in the marketing, advertising, soliciting, or otherwise promoting of the purchase of a policy.
AR Code § 23-81-810 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-810. Disclosure to insurer

 (a) Without limiting the ability of an insurer from assessing the insurability of a policy applicant and determining whether or not to issue the policy and in addition to other questions an insurance carrier may lawfully pose to a life insurance applicant, insurance carriers may inquire in the application for insurance whether the proposed owner intends to pay premiums with the assistance of financing from a lender that will use the policy as collateral to support the financing.  (b) If as described in § 23-81-802(11) the loan provides funds that can be used for a purpose other than paying for the premiums, costs, and expenses associated with obtaining and maintaining the life insurance policy and loan, the application shall be rejected as a violation of the prohibited practices in § 23-81-813.  (c) If the financing does not violate § 23-81-813 in this manner, the insurance carrier:  (1) May make disclosures, including without limitation to the following, to the applicant and the insured on the application or an amendment to the application to be completed no later than the delivery of the policy:  (2) May require certifications, such as the following, from the applicant, the insured, or the applicant and the insured:  (A) “I have not entered into any agreement or arrangement providing for the future sale of this life insurance policy.”;  (B) “My loan arrangement for this policy provides funds sufficient to pay for some or all of the premiums, costs, and expenses associated with obtaining and maintaining my life insurance policy, but I have not entered into any agreement by which I am to receive consideration in exchange for procuring this policy.”; and  (C) “The borrower has an insurable interest in the insured.”.       A change of ownership could lead to a stranger owning an interest in the insured's life;   A change of ownership could in the future limit your ability to purchase future insurance on the insured's life because there is a limit to how much coverage insurers will issue on one life;   Should there be a change of ownership and you wish to obtain more insurance coverage on the insured's life in the future, the insured's higher issue age, a change in health status, and/or other factors may reduce the ability to obtain coverage and/or may result in significantly higher premiums;   You should consult a professional advisor, since a change in ownership in satisfaction of the loan may result in tax consequences to the owner, depending on the structure of the loan.”; and      “If you have entered into a loan arrangement in which the policy is used as collateral and the policy does change ownership at some point in the future in satisfaction of the loan, the following may be true:
AR Code § 23-81-812 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-812. Authority to promulgate rules — Conflict of laws

 (a) The Insurance Commissioner may promulgate rules implementing this subchapter regulating the activities and relationships of providers, brokers, insurers, and their agents, subject to statutory limitations on administrative rulemaking.  (b) Conflict of Laws.  (1)  (A) If there is more than one (1) owner on a single policy and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one (1) owner agreed upon in writing by all of the owners.  (B) The law of the state of the insured shall govern if equal owners fail to agree in writing upon a state of residence for jurisdictional purposes.    (2)  (A) A provider from this state who enters into a life settlement contract with an owner who is a resident of another state that has enacted statutes or adopted regulations governing life settlement contracts shall be governed in the effectuation of that life settlement contract by the statutes and regulations of the owner's state of residence.  (B) If the state in which the owner is a resident has not enacted statutes or regulations governing life settlement contracts, the provider shall give the owner notice that neither state regulates the transaction upon which he or she is entering.  (C) For transactions in those states, however, the provider shall maintain all records required if the transactions were executed in the state of residence. The forms used in those states need not be approved by the State Insurance Department.    (3) If there is a conflict in the laws that apply to an owner and a purchaser in any individual transaction, the laws of the state that apply to the owner shall take precedence, and the provider shall comply with those laws.
AR Code § 23-81-815 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-815. Injunctions — Civil remedies — Cease and desist

 (a) In addition to the penalties and other enforcement provisions of this subchapter, if any person violates this subchapter or any rule implementing this subchapter, the Insurance Commissioner may seek an injunction in a court of competent jurisdiction in the county where the person resides or has a principal place of business and may apply for temporary and permanent orders that the commissioner determines necessary to restrain the person from further committing the violation.  (b) Any person damaged by the acts of another person in violation of this subchapter or any rule implementing this subchapter may bring a civil action for damages in a court of competent jurisdiction against the person committing the violation.  (c) The commissioner may issue a cease and desist order upon a person who violates any provision of this section, any rule or order adopted by the commissioner, or any written agreement entered into with the commissioner, in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.  (d)  (1) When the commissioner finds that such an action presents an immediate danger to the public and requires an immediate final order, he or she may issue an emergency cease and desist order reciting with particularity the facts underlying such findings.  (2) The emergency cease and desist order is effective immediately upon service of a copy of the order on the respondent and remains effective for ninety (90) days. If the State Insurance Department begins nonemergency cease and desist proceedings under subsection (a) of this section, the emergency cease and desist order remains effective, absent an order by an appellate court of competent jurisdiction pursuant to the Arkansas Administrative Procedure Act, § 25-15-201 et seq.  (3) In the event of a willful violation of this subchapter, the trial court may award statutory damages in addition to actual damages in an additional amount up to three (3) times the actual damage award.  (4) The provisions of this subchapter shall not be waived by agreement.  (5) A choice of law provision shall not be utilized to prevent the application of this subchapter to any settlement in which a party to the settlement is a resident of this state.
AR Code § 23-81-816 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-816. Penalties

 (a) It is a violation of this subchapter for any person, provider, broker, or any other party related to the business of life settlements to commit a fraudulent life settlement act.  (b) For criminal liability purposes, a person that commits a fraudulent life settlement act is guilty of committing insurance fraud and shall be subject to the penalty provisions under § 23-66-512.
AR Code § 23-81-817 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-817. Unfair trade practices

 A violation of §§ 23-81-801 — 23-81-816 shall be considered an unfair trade practice pursuant to § 23-66-206 and shall be subject to the provisions related to hearings and penalties for violations of §§ 23-66-207 — 23-66-212 of the Trade Practices Act, § 23-66-201 et seq.
AR Code § 23-81-818 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 8 - Life Settlements Act|§ 23-81-818. Effective date

 (a)  (1) A provider lawfully transacting business in this state before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the Insurance Commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of providers.  (2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009.  (3) During the time that the application form and instructions are pending with the commissioner, the applicant may use any form of life settlement contract that has been filed with the commissioner pending approval of the application form and instructions, provided the form and instructions are otherwise in compliance with the provisions of this subchapter.  (4) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter.    (b)  (1) A person who has lawfully negotiated life settlement contracts between any owner residing in this state and one (1) or more providers for at least one (1) year immediately before July 31, 2009, may continue to do so pending approval or disapproval of that person's application for a license if the application is filed with the commissioner not later than thirty (30) days after publication by the commissioner of an application form and instructions for licensure of brokers.  (2) If the publication of the application form and instructions is before July 31, 2009, then the filing of the application shall not be later than thirty (30) days after July 31, 2009.  (3) Any person transacting business in this state under this subsection shall comply with all other requirements of this subchapter.
AR Code § 23-81-901 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 9 - Unclaimed Life Insurance Benefits Act|§ 23-81-901. Title

 This subchapter shall be known and may be cited as the “Unclaimed Life Insurance Benefits Act”.
AR Code § 23-81-902 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 9 - Unclaimed Life Insurance Benefits Act|§ 23-81-902. Legislative intent

 The General Assembly intends for this subchapter to:   (1) Recognize the escheat or unclaimed property statutes under the Unclaimed Property Act, § 18-28-201 et seq.; and  (2) Require the complete and proper disclosure, transparency, and accountability for any method of payment of death benefits under a life insurance policy that is subject to regulation by the State Insurance Department.
AR Code § 23-81-903 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 9 - Unclaimed Life Insurance Benefits Act|§ 23-81-903. Definitions

 As used in this subchapter:   (1)  (A) “Contract” means an annuity contract.  (B) “Contract” does not include:  (i) An annuity contract used to fund an employment-based retirement plan or program in which an insurer:  (a) Does not perform recordkeeping services; or  (b) Is not required to pay death benefits to the beneficiaries of a specific plan participant by terms of the annuity contract; or    (ii) An annuity used to fund a funeral or related expenses or a prepaid funeral benefits contract;      (2) “Death master file” means a comprehensive database or source of death information used to verify the death of an individual maintained by the Division of Vital Records, the Social Security Administration, or other database or service;  (3) “Death master file match” means locating a Social Security number or the name and date of birth of an insured, annuity owner, or retained asset account holder in a search of a death master file;  (4) “Knowledge of death” means:  (A) Receipt of an original or valid copy of a death certificate issued by the state or a political subdivision of the state; or  (B) A death master file match validated by an insurer under § 23-81-904(c)(1)(A);    (5)  (A) “Policy” means a policy or certificate of life insurance issued in this state that provides a death benefit.  (B) “Policy” does not include:  (i) A policy or certificate of life insurance that provides a death benefit under:  (a) A defined employee benefit pension plan, as defined in section 3(35) of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406; or  (b) Any federal employee benefit program;    (ii) A policy or certificate of life insurance that is used to fund a funeral or related expenses or a prepaid funeral benefits contract;  (iii) A policy or certificate of credit life or accidental death insurance; or  (iv) A policy issued to a group master policyholder for which the insurer does not provide recordkeeping services;      (6) “Recordkeeping services” means services under a group policy or contract between an insurer and a group policy or contract customer to obtain, maintain, and administer on behalf of the insured a list of the individuals who are insured under a group insurance contract or a line of coverage, including an individual's:  (A) Social Security number or name and date of birth;  (B) Beneficiary designation information;  (C) Coverage eligibility;  (D) Benefit amount; and  (E) Premium payment status; and    (7) “Retained asset account” means a mechanism to deposit the settlement of proceeds payable under a policy or contract into a deposit account where the proceeds are retained by the insurer or its agent under a supplementary contract that only involves death benefits.
AR Code § 23-81-905 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 81 - Life Insurance Policies And Annuities|Subchapter 9 - Unclaimed Life Insurance Benefits Act|§ 23-81-905. Unfair trade practices

 (a) If an insurer fails to comply with this subchapter so frequently as to be a general business practice, then it is a violation of this subchapter and may be subject to the Trade Practices Act, § 23-66-201 et seq.  (b) A violation of this subchapter does not create a private right of action.
AR Code § 23-86-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 86 - Group and Blanket Accident and Health Insurance|Subchapter 1 - General Provisions|§ 23-86-101. Blanket accident and health insurance — Definition

 Blanket accident and health insurance is declared to be that form of accident and health insurance covering groups of persons as enumerated in one (1) of the following subdivisions:   (1) Under a policy or contract issued to any common carrier or to any operator, owner, or lessee of a means of transportation, who or which shall be deemed the policyholder, covering a group defined as all persons or all persons of a class who may become passengers on the common carrier or such means of transportation;  (2) Under a policy or contract issued to an employer, who shall be deemed the policyholder, covering all employees, dependents, or guests, defined by reference to specified hazards incident to the activities or operations of the employer or any class of employees, dependents, or guests similarly defined;  (3) Under a policy or contract issued to a school or other institution of learning, camp, or sponsor thereof or to the head or principal thereof, who or which shall be deemed the policyholder, covering students or campers. Supervisors and employees may be included;  (4) Under a policy or contract issued in the name of any religious, charitable, recreational, educational, or civic organization, which shall be deemed the policyholder, covering participants in activities sponsored by the organization;  (5) Under a policy or contract issued to a sports team or sponsors thereof, which shall be deemed the policyholder, covering members, officials, and supervisors;  (6) Under a policy or contract issued in the name of any volunteer fire department, first aid, or other such volunteer group or agency having jurisdiction thereof, which shall be deemed the policyholder, covering all of the members of the fire department or group; or  (7) Under a policy or contract issued to cover any other risk or class of risks that, in the discretion of the Insurance Commissioner, may be properly eligible for blanket accident and health insurance. The discretion of the commissioner may be exercised on an individual risk basis or class of risks, or both.
AR Code § 23-86-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 86 - Group and Blanket Accident and Health Insurance|Subchapter 1 - General Provisions|§ 23-86-103. Blanket accident and health insurance — Application and certificates not required

 An individual application shall not be required from a person covered under a blanket accident and health insurance policy or contract, nor shall it be necessary for the insurer to furnish each person a certificate.