Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 63 - INSURANCE COMPANIES GENERALLY (§§ 23-63-101 — 23-63-2010) › Subchapter 2 - AUTHORITY TO DO BUSINESS (§§ 23-63-201 — 23-63-218) › Section 23-63-209 - Certificate of authority - Application

(a)
To apply for an original certificate of authority, an insurer shall file with the Insurance Commissioner its application therefor, accompanied by the applicable fees as specified in §
23-61-401
, showing its name, location of its home office or principal office in the United States, if an alien insurer, kinds of insurance to be transacted, state or country of domicile, and such additional information as the commissioner may reasonably require together with, but not limited to, the following documents, as applicable:
(1)
A copy of its corporate charter or articles of incorporation with all amendments thereto, certified by the public officer with whom the originals are on file in the state or country of domicile;
(2)
If a mutual insurer, a copy of its bylaws, as amended, certified by its secretary or other officer having custody thereof;
(3)
If a foreign reciprocal insurer, copies of the power of attorney of its attorney in fact and, if a separate instrument, its subscribers' agreement, certified by its attorney in fact; and if a domestic reciprocal insurer, the declaration provided for by §
23-70-106
;
(4)
A copy of its financial statement as of December 31, next preceding, sworn to by at least two (2) executive officers of the insurer or certified by the public insurance supervisory officials of the insurer's state of domicile or of entry into the United States. The insurer may use the form of statement currently approved by the National Association of Insurance Commissioners or its successor organization;
(5)
A copy of the report of last examination, if any, made of the insurer, certified by the insurance supervisory official of its state of domicile or of entry into the United States;
(6)
On and after January 1, 2003, registration of registered agents for service of process to be made pursuant to §
23-63-301
et seq.;
(7)
If a foreign insurer, a certificate of the public official having supervision of insurance in its state or country of domicile showing that it is authorized to transact the kinds of insurance proposed to be transacted in this state;
(8)
If an alien insurer, a copy of the appointment and authority of its United States manager, certified by its officer having custody of its records;
(9)
Any bond, deposit, or evidence of deposit in another state, as required under §
23-63-206
;
(10)
Specimen copies of policies proposed to be offered in this state; and
(11)
A detailed digest of the company history evidencing successful operation, with reference to insurance in force, claims record, and such other data as the commissioner may request.
(b)
Before granting a certificate of authority to an insurance company, the commissioner shall be satisfied, by such examination as he or she deems necessary to make and by review of such evidence as he or she deems necessary to require, that the company is qualified under the laws of this state to transact business in this state. The costs of any examinations will be reimbursed pursuant to §
23-61-206
.
Acts 1959, No. 148, § 53; 1969, No. 322, § 1; A.S.A. 1947, § 66-2211; Acts 1987, No. 456, § 6; 2001, No. 1604, § 22.