reglab/statecodes huggingface dataset:
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 8 - INVESTMENTS (§§ 23-63-801 — 23-63-842) › Section 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.
Amended by Act 2015, No. 1223,§ 18, eff. 7/22/2015.
Acts 1989, No. 772, § 4; 2001, No. 1604, § 38.
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 8 - INVESTMENTS (§§ 23-63-801 — 23-63-842) › Section 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.
Added by Act 2015, No. 1223,§ 19, eff. 7/22/2015.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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
; and
(4)
Deposits in such additional amounts as are permitted to be made under §
23-63-908
.
Acts 1959, No. 148, § 132; A.S.A. 1947, § 66-2701.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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.
Acts 1959, No. 148, § 133; A.S.A. 1947, § 66-2702.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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.
Acts 1959, No. 148, § 134; A.S.A. 1947, § 66-2703.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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.
Acts 1959, No. 148, § 135; 1979, No. 596, § 1; A.S.A. 1947, § 66-2704; Acts 1997, No. 296, § 4.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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.
Acts 1959, No. 148, § 136; A.S.A. 1947, § 66-2705.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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.
Acts 1959, No. 148, § 137; A.S.A. 1947, § 66-2706.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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.
Acts 1959, No. 148, § 138; A.S.A. 1947, § 66-2707.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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)
.
Acts 1959, No. 148, § 139; A.S.A. 1947, § 66-2708.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 23-63-909 - Payment of claims - Definition

(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.
Acts 1959, No. 148, § 140; 1963, No. 153, § 2; A.S.A. 1947, § 66-2709; Acts 1989, No. 444, § 23; 1993, No. 901, § 12; 2001, No. 1604, § 40; 2005, No. 506, § 29.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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
.
Acts 1959, No. 148, § 141; A.S.A. 1947, § 66-2710; Acts 2001, No. 1604, § 41.
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 9 - DEPOSITS (§§ 23-63-901 — 23-63-912) › Section 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.
Acts 1959, No. 148, § 142; 1963, No. 153, § 3; A.S.A. 1947, § 66-2711.
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 10 - SURETIES ON BONDS (§§ 23-63-1001 — 23-63-1004) › Section 23-63-1001 - Court, judicial, and certain other bonds

(a)
(1)
Upon compliance with the provisions of the Arkansas Insurance Code, a surety insurer may become surety upon any bond or other contract of any person and may become surety upon any bond required to be given by any person in the course of judicial proceedings or upon the bonds of administrators, executors, guardians, receivers, assignees, trustees, or other fiduciaries required to give the bond.
(2)
The obligation of the insurer as surety upon those bonds or contracts may be accepted by the court, officer, board, or person required to approve the bond or contract as the sole surety upon the bond or contract even though previous laws or customs may have required two (2) sureties upon the bonds or contracts or may have required one (1) or more of the sureties to be residents of any particular territory.
(b)
Where these bonds are given by administrators, executors, guardians, receivers, assignees, trustees, or other officers of the court, the court appointing the officers may allow the expense incurred by the officers in securing this bond in the insurer as part of the expenses of the trust to be paid out of the fund.
Acts 1959, No. 148, § 449; A.S.A. 1947, § 66-4101.
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 10 - SURETIES ON BONDS (§§ 23-63-1001 — 23-63-1004) › Section 23-63-1002 - Bonds given by state, county, or municipal officers

(a)
All bonds or other obligations required or desired to be given by any state, county, or municipal officer for the due performance of the duties of his or her office or for the due accounting of money coming to his or her hands or for any other purpose whatever shall be sufficient when executed by a surety insurer authorized to transact business under the Arkansas Insurance Code as sole surety upon the bonds or obligations, whether or not previous laws required the bond to be executed by more than one (1) surety, or, provided that one (1) or more of the sureties upon the bond should be resident of this state, or any particular county therein, or resident of any specified territory.
(b)
All officers, courts, and boards of this state, any county therein, or any municipality whose duty it is or shall be to approve the official bonds of any state, county, or municipal officer shall approve the bond as to its sureties when the insurer is the sole surety thereon.
Acts 1959, No. 148, § 450; A.S.A. 1947, § 66-4102.
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 10 - SURETIES ON BONDS (§§ 23-63-1001 — 23-63-1004) › Section 23-63-1003 - Insurer's rights as surety same as individual's

(a)
A surety insurer authorized as such under the Arkansas Insurance Code shall have the same power and authority to become surety upon all bonds required by law or desired by contracting parties and shall be vested with the same rights and be subject to all the liabilities as individuals who become sureties on the bonds or contracts.
(b)
A surety insurer which is surety upon any bond or contract may be released from its liability thereon on the same terms and conditions as are by law prescribed for the release of individuals as sureties.
Acts 1959, No. 148, § 451; A.S.A. 1947, § 66-4103.
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 10 - SURETIES ON BONDS (§§ 23-63-1001 — 23-63-1004) › Section 23-63-1004 - Estoppel to deny corporate power to be surety

In any action brought against a surety insurer to enforce the liability assumed by it under any bond or contract, the insurer is estopped from denying its corporate or other power to execute that bond or guaranty or to assume the liability.
Acts 1959, No. 148, § 452; A.S.A. 1947, § 66-4104.
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 11 - BUSINESS TRANSACTED WITH PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURER ACT (§§ 23-63-1101 — 23-63-1107) › Section 23-63-1101 - Title

This subchapter may be cited as the "Business Transacted with Producer Controlled Property and Casualty Insurer Act".
Acts 1993, No. 526, § 1.
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 11 - BUSINESS TRANSACTED WITH PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURER ACT (§§ 23-63-1101 — 23-63-1107) › Section 23-63-1102 - Definitions

As used in this subchapter:
(1)
"Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Commissioners;
(2)
"Control" or "controlled" has the meaning set out in §
23-63-503
;
(3)
"Controlled insurer" means a licensed insurer which is controlled, directly or indirectly, by a producer;
(4)
"Controlling producer" means a producer who, directly or indirectly, controls an insurer;
(5)
(A)
"Licensed insurer" or "insurer" means any person, firm, association, or corporation duly licensed to transact a property and casualty insurance business in this state.
(B)
The following, among other things, are not licensed insurers for the purposes of this subchapter:
(i)
All risk retention groups as defined in the Superfund Amendments Reauthorization Act of 1986, the Product Liability Risk Retention Act of 1981, and §§
23-94-101
-
23-94-108
[repealed],
23-94-201
-
23-94-209
[revised], and
23-94-301
-
23-94-303
[repealed];
(ii)
All residual market pools and joint underwriting authorities or associations; and
(iii)
All captive insurers, that is, insurance companies owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, insurance organizations owned by the insureds whose exclusive purpose is to insure risks of member organizations and group members and their affiliates; and
(6)
"Producer" means an insurance broker or brokers or any other person, firm, association, or corporation, when, for any compensation, commission, or other thing of value, such a person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation.
Acts 1993, No. 526, § 1.
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 11 - BUSINESS TRANSACTED WITH PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURER ACT (§§ 23-63-1101 — 23-63-1107) › Section 23-63-1103 - Date of required compliance

Compliance with this subchapter shall be required on and after January 1, 1994.
Acts 1993, No. 526, § 2.
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 11 - BUSINESS TRANSACTED WITH PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURER ACT (§§ 23-63-1101 — 23-63-1107) › Section 23-63-1104 - Applicability

(a)
This subchapter shall apply to licensed insurers as defined in §
23-63-1102
either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law.
(b)
All provisions of the Insurance Holding Company Regulatory Act, §
23-63-501
et seq., to the extent they are not superseded by the provisions of this subchapter, shall continue to apply to all parties within holding company systems subject to the provisions of this subchapter.
Acts 1993, No. 526, § 1.
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 11 - BUSINESS TRANSACTED WITH PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURER ACT (§§ 23-63-1101 — 23-63-1107) › Section 23-63-1106 - Disclosure

The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that, if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in his or her records a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the producer and that the subproducer has or will notify the insured.
Acts 1993, No. 526, § 1.
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 11 - BUSINESS TRANSACTED WITH PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURER ACT (§§ 23-63-1101 — 23-63-1107) › Section 23-63-1107 - Penalties

(a)
(1)
If the Insurance Commissioner believes that the controlling producer or any other person has not materially complied with this subchapter, after notice and hearing, the commissioner may order the controlling producer to cease placing business with the controlled insurer.
(2)
If it is found that because of such material noncompliance the controlled insurer or any policyholder thereof has suffered any loss or damage, the commissioner may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.
(b)
If an order for liquidation or rehabilitation of the controlled insurer has been entered pursuant to §
23-68-101
et seq., and the receiver appointed under that order believes that the controlling producer or any other person has not materially complied with this subchapter, and the insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the insurer.
(c)
Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for in the Arkansas Insurance Code.
(d)
Nothing contained in this section is intended to or shall in any manner alter or affect the rights of policyholders, claimants, creditors, or other third parties.
Acts 1993, No. 526, § 1.
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 12 - [Repealed] (§§ 23-63-1201 — 23-63-1205) › Section 23-63-1201 - [Repealed]

Repealed by Act 2015, No. 1210,§ 2, eff. 7/22/2015.
Acts 1993, No. 166, § 1.
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 12 - [Repealed] (§§ 23-63-1201 — 23-63-1205) › Section 23-63-1202 - [Repealed]

Repealed by Act 2015, No. 1210,§ 2, eff. 7/22/2015.
Acts 1993, No. 166, § 1; 1995, No. 108, § 2; 1997, No. 1111, § 1.
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 12 - [Repealed] (§§ 23-63-1201 — 23-63-1205) › Section 23-63-1203 - [Repealed]

Repealed by Act 2015, No. 1210,§ 2, eff. 7/22/2015.
Acts 1993, No. 166, § 1; 1995, No. 108, § 1.
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 12 - [Repealed] (§§ 23-63-1201 — 23-63-1205) › Section 23-63-1204 - [Repealed]

Repealed by Act 2015, No. 1210,§ 2, eff. 7/22/2015.
Acts 1993, No. 166, § 1.
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 12 - [Repealed] (§§ 23-63-1201 — 23-63-1205) › Section 23-63-1205 - [Repealed]

Repealed by Act 2015, No. 1210,§ 2, eff. 7/22/2015.
Acts 1997, No. 1111, § 2.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1301 - Title

This subchapter shall be known and may be cited as the "Risk-Based Capital Act".
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1303 - RBC reports

(a)
Annually on or before March 1, each domestic insurer shall prepare and submit to the Insurance Commissioner a report of its RBC levels as of the end of the previous calendar year in a form and containing the information as needed by the RBC instructions. In addition, each domestic insurer shall file its RBC report:
(1)
With the NAIC according to the RBC instructions; and
(2)
With the insurance commissioner in a state in which the insurer may do business, if the insurance commissioner has notified the insurer of its request in writing, in which case the insurer shall file its RBC report by the later of:
(A)
Fifteen (15) days from the receipt of notice to file its RBC report with that state; or
(B)
The filing date.
(b)
A life or accident and health insurer's or a fraternal benefit society's RBC is determined according to the formula stated in the RBC instructions. The formula shall take into account and may adjust for the covariance among the following factors determined in each case by applying the factors as stated in the RBC instructions:
(1)
The risk for the insurer's assets;
(2)
The risk of adverse insurance experience for the insurer's liabilities and obligations;
(3)
The interest rate risk for the insurer's business; and
(4)
Other business and relevant risks as determined in each case by applying RBC instructions.
(c)
A property and casualty insurer's RBC is determined according to the formula stated in the RBC instructions. The formula may adjust for the covariance among the following factors determined according to the formula stated in the RBC instructions:
(1)
Asset risk;
(2)
Credit risk;
(3)
Underwriting risk; and
(4)
Other business and relevant risks as stated in the RBC instructions.
(d)
An excess of capital over the amount produced by the risk-based capital requirements contained in this subchapter and the formulas, schedules, and instructions referenced in this subchapter are desirable in the business of insurance. Insurers should seek to maintain capital above the RBC levels needed by this subchapter. Additional capital is used and useful in the insurance business and helps to secure an insurer against various risks inherent in or affecting the business of insurance and not accounted for or only partially measured by the risk-based capital requirements contained in this subchapter.
(e)
If a domestic insurer files an RBC report that in the judgment of the Insurance Commissioner is inaccurate, the Insurance Commissioner shall adjust the RBC report to correct the inaccuracy and notify the insurer of the adjustment. The notice shall contain a statement of the reason for the adjustment. An RBC report as so adjusted is referred to as an "adjusted RBC report".
Amended by Act 2015, No. 1223,§ 22, eff. 7/22/2015.
Acts 1995, No. 622, § 1; 2001, No. 1603, § 13; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1306 - Authorized control level event

(a)
As used in this subchapter, "authorized control level event" means any of the following events:
(1)
The filing of an RBC report by the insurer that shows the insurer's total adjusted capital is more than or equal to its mandatory control level RBC but less than its authorized control level RBC;
(2)
The notification by the Insurance Commissioner to the insurer of an adjusted RBC report that indicates the event in subdivision (a)(1) of this section if the insurer does not challenge the adjusted RBC report under §
23-63-1308
;
(3)
If under §
23-63-1308
the insurer challenges an adjusted RBC report that indicates the event in subdivision (a)(1) of this section, notification by the commissioner to the insurer that the commissioner, after a hearing, has rejected the insurer's challenge;
(4)
The failure of the insurer to respond in a way satisfactory to the commissioner to a corrective order if the insurer has not challenged the corrective order under §
23-63-1308
; or
(5)
If the insurer has challenged a corrective order under §
23-63-1308
and the commissioner, after a hearing, has rejected the challenge or modified the corrective order, the failure of the insurer to respond, in a way satisfactory to the commissioner, to the corrective order after rejection or modification by the commissioner.
(b)
In the event of an authorized control level event with respect to an insurer, the commissioner shall:
(1)
Take the actions required under §
23-63-1305
regarding an insurer with respect to which a regulatory action level event has occurred; or
(2)
If the commissioner considers it to be in the best interests of the policyholders and creditors of the insurer and of the public, take the actions necessary to cause the insurer to be placed under regulatory control under §
23-68-101
et seq. In the event the commissioner takes the actions, the authorized control level event is sufficient grounds for the commissioner to take action under §
23-68-101
et seq., and the commissioner shall have the rights, powers, and duties with respect to the insurer as stated in §
23-68-101
et seq. If the commissioner takes action under this section under an adjusted RBC report, the insurer is entitled to the protections provided to insurers under §
23-68-101
et seq. pertaining to summary proceedings.
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1308 - Hearings

(a)
(1)
If any of the events listed in subsection (b) of this section occurs, the insurer shall have the right to a confidential administrative hearing on record, at which the insurer may challenge any determination or action by the Insurance Commissioner.
(2)
(A)
The insurer shall notify the commissioner of its request for a hearing within five (5) days after the notification by the commissioner under subsection (b) of this section.
(B)
On receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing. The date shall be no less than ten (10) nor more than thirty (30) days after the date of the insurer's request.
(b)
Subsection (a) of this section applies if:
(1)
The commissioner notifies an insurer of an adjusted RBC report;
(2)
The commissioner notifies an insurer that:
(A)
The insurer's RBC plan or revised RBC plan is unsatisfactory; and
(B)
The notification constitutes a regulatory action level event with respect to the insurer;
(3)
The commissioner notifies an insurer that the insurer 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 insurer to eliminate the company action level event with respect to the insurer according to its RBC plan or revised RBC plan; or
(4)
The commissioner notifies an insurer of a corrective order with respect to the insurer.
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1310 - Supplemental provisions - Rules - Exemption

(a)
This subchapter is supplemental to other laws of this state and does not preclude or limit other powers or duties of the Insurance Commissioner under those laws, including without limitation §
23-68-101
et seq.
(b)
The commissioner may adopt reasonable rules necessary for the implementation of this subchapter.
(c)
The commissioner may exempt a domestic insurer licensed to do business in this state from this subchapter if the domestic insurer:
(1)
Writes direct business only in this state;
(2)
Writes direct annual premiums of two million dollars ($2,000,000) or less; and
(3)
Assumes no reinsurance more than five percent (5%) of direct premium written.
Amended by Act 2015, No. 1223,§ 25, eff. 7/22/2015.
Acts 1995, No. 622, § 1; 1999, No. 625, § 2; 2001, No. 8, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1311 - Foreign insurers

(a)
Upon the written request of the Insurance Commissioner, a foreign insurer shall submit to the commissioner an RBC report as of the end of the calendar year just ended the later of:
(1)
The date an RBC report would be required to be filed by a domestic insurer under this subchapter; or
(2)
Fifteen (15) days after the request is received by the foreign insurer. Any foreign insurer, at the written request of the commissioner, promptly shall 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 insurer as determined under the RBC statute applicable in the state of domicile of the insurer 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 insurer fails to require the foreign insurer to file an RBC plan in the way named under that state's RBC statute or, if no RBC statute is in force in that state, under §
23-63-1304
the commissioner may require the foreign insurer to file an RBC plan with the commissioner. In that event, the failure of the foreign insurer to file an RBC plan with the commissioner is grounds to order the insurer 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 insurer, if no domiciliary receiver has been appointed by the foreign insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer, the commissioner may apply to Pulaski County Circuit Court permitted under §
23-68-101
et seq. with respect to the liquidation of property of foreign insurers found in this state, and the occurrence of the mandatory control level event is adequate grounds for the application.
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1312 - Immunity

There is 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 action taken by them in the performance of their powers and duties under this subchapter.
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1313 - Authority of commissioner to adopt rules

The Insurance Commissioner may adopt reasonable rules for the implementation and administration of this subchapter.
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1314 - Penalties and liabilities

(a)
If the Insurance Commissioner, after a hearing conducted according to §
23-61-301
et seq., finds that an insurer or a person has violated this subchapter, the commissioner may order:
(1)
For each separate violation, a penalty of one thousand dollars ($1,000) or if the commissioner has found willful misconduct or willful violation, a penalty of five thousand dollars ($5,000); and
(2)
Revocation or suspension of the insurer's or person's license.
(b)
The decision of the commissioner under subsection (a) of this section is subject to judicial review under §
23-61-307
.
(c)
This section does not affect the right of the commissioner to impose other penalties provided for in the insurance laws.
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 13 - RISK-BASED CAPITAL ACT (§§ 23-63-1301 — 23-63-1316) › Section 23-63-1316 - Notices

All notices by the Insurance Commissioner to an insurer that may result in regulatory action under this subchapter shall be effective on dispatch if transmitted by certified mail, or in the case of any other transmission shall be effective on the insurer's receipt of the notice.
Acts 1995, No. 622, § 1; 2011, No. 760, § 4.
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 14 - DISCLOSURE OF MATERIAL TRANSACTIONS ACT (§§ 23-63-1401 — 23-63-1406) › Section 23-63-1401 - Short title

This subchapter may be cited as the "Disclosure of Material Transactions Act".
Acts 1995, No. 625, § 1.