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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 4 - FREEDOM OF CHOICE AMONG HEALTH BENEFIT PLANS ACT OF 1999 (§§ 23-86-401 — 23-86-406) › Section 23-86-401 - Title

This subchapter may be cited as the "Freedom of Choice Among Health Benefit Plans Act of 1999".
Acts 1999, No. 1469, § 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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 4 - FREEDOM OF CHOICE AMONG HEALTH BENEFIT PLANS ACT OF 1999 (§§ 23-86-401 — 23-86-406) › Section 23-86-402 - Legislative finding

The General Assembly finds that:
(1)
Citizens covered by health benefit plans should have the opportunity to obtain healthcare services at an affordable price;
(2)
The cost of health benefit plans can vary depending upon the kind of arrangement the health benefit plan has with providers of healthcare services;
(3)
In order to provide affordable delivery of health care services, health benefit plans which utilize contractual arrangements with providers and encourage quality services at discounted prices should be promoted; and
(4)
Citizens should have the option to choose a health benefit plan that covers the services of any qualified healthcare provider.
Acts 1999, No. 1469, § 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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 4 - FREEDOM OF CHOICE AMONG HEALTH BENEFIT PLANS ACT OF 1999 (§§ 23-86-401 — 23-86-406) › Section 23-86-403 - Definitions

As used in this subchapter:
(1)
"Benefit level" means an obligation of the health maintenance organization or insurance company under its health benefit plan. The benefit level is actuarially determined considering the copayments, deductibles, and dollar limits of the health benefit plan;
(2)
"Covered healthcare services" means services rendered or products sold by a healthcare provider within the scope of the healthcare provider's license which are covered by a health benefit plan. The term may include hospital, medical, surgical, dental, vision, and pharmaceutical services or products;
(3)
"Covered person" means any person on whose behalf a health maintenance organization is obligated to make arrangements for or pay for covered healthcare service;
(4)
"Health benefit plan" means the agreement between an employer, association, state, county, or municipal agency and a health maintenance organization or insurance company which defines the covered services available;
(5)
"Healthcare provider" means a hospital, an ambulatory surgery center, an outpatient psychiatric center, a home healthcare agency, a skilled nursing facility, or an individual licensed to render covered healthcare services;
(6)
"Limited network plan" means a plan that arranges for or provides reimbursement for covered healthcare services to covered persons through a limited number of healthcare providers selected and employed or contracted by the health maintenance organization; and
(7)
"Point-of-service plan" means a plan that provides payment of nonemergency, self-referred covered healthcare services obtained from healthcare providers who are not otherwise employed by nor under contract with the health maintenance organization.
Acts 1999, No. 1469, § 3.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 4 - FREEDOM OF CHOICE AMONG HEALTH BENEFIT PLANS ACT OF 1999 (§§ 23-86-401 — 23-86-406) › Section 23-86-404 - Optional health benefit plans

(a)
A health maintenance organization may offer and issue health benefit plans that reimburse or arrange for covered healthcare services to covered persons through a limited network plan if:
(1)
The health maintenance organization provides itself, or arranges through an insurance company, for an annual option for covered persons to choose a health benefit plan or a point-of-service plan that reimburses or arranges for the covered healthcare services from any healthcare provider qualified to render the covered healthcare services;
(2)
The difference in the benefit level of the optional health benefit plan or point-of-service plan shall not exceed twenty-five percent (25%) of the benefit level under the limited benefit plan;
(3)
The employer or other group contract holder contracting with the health maintenance organization for a health benefit plan shall provide an equal contribution per covered person regardless of which option the covered person chooses pursuant to the provisions of this subchapter; and
(4)
Under the optional health benefit plan or point-of-service plan, the rate of reimbursement for healthcare providers out of the network shall be no higher than the normal and usual and customary rate charged by those out-of-network providers on a regular basis, provided that copayment, coinsurance, and other cost-sharing features may be different for out-of-network providers and in-network providers.
(b)
(1)
The pricing of the optional health benefit plan or point-of-service plan must provide an expected incurred loss ratio of not less than eighty percent (80%).
(2)
The Insurance Commissioner shall promulgate rules as may be necessary to implement the provisions of this subchapter and to ensure that the price of the option provided in this section bears a reasonable relationship to the costs and benefits of the limited network plan.
(c)
This subchapter shall apply to any health benefit plan issued or renewed on or after January 1, 2000.
Amended by Act 2019, No. 315,§ 2750, eff. 7/24/2019.
Acts 1999, No. 1469, § 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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 4 - FREEDOM OF CHOICE AMONG HEALTH BENEFIT PLANS ACT OF 1999 (§§ 23-86-401 — 23-86-406) › Section 23-86-405 - Effect of subchapter on pricing

Nothing in this subchapter shall be construed to prohibit a health maintenance organization from pricing any health benefit plan according to sound actuarial principles.
Acts 1999, No. 1469, § 5.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 4 - FREEDOM OF CHOICE AMONG HEALTH BENEFIT PLANS ACT OF 1999 (§§ 23-86-401 — 23-86-406) › Section 23-86-406 - Effect of subchapter on coverage of specific services

Nothing in this subchapter shall be construed to require a health maintenance organization to cover any specific healthcare service.
Acts 1999, No. 1469, § 6.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-501 - Title

This subchapter shall be known and cited as the "Small Employer Health Insurance Purchasing Group Act of 2001".
Acts 2001, No. 925, § 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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-505 - Notice requirements

In each sale of a health benefits plan to a proposed eligible employer through a health insurance purchasing group in which the health insurance purchasing group offers an option to an eligible employer to obtain a health benefits plan that, either in whole or in part, does not provide state-mandated health benefits or does not contain standard provisions as may be determined by rules of the Insurance Commissioner, the health insurance purchasing group, after the employer has selected its health benefit plan, shall provide to each eligible employee of the employer a written notice, in a form and manner as prescribed by rule promulgated by the commissioner, that one (1) or more mandated benefits are not included in the health benefit plan.
Amended by Act 2019, No. 315,§ 2754, eff. 7/24/2019.
Acts 2001, No. 925, § 5; 2003, No. 1358, § 3.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-506 - Health insurance purchasing group administrative services to members

(a)
(1)
Each health insurance purchasing group may provide administrative services for its members.
(2)
The services may include, but are not limited to, accounting, billing, enrollment information, and employee coverage status reports.
(b)
The health insurance purchasing group may delegate or contract its billing and other administrative duties to a third-party administrator as defined under §
23-92-201
in compliance with the Arkansas Insurance Code.
(c)
Nothing in this section shall be construed as preventing a health insurance purchasing group from serving as an administrative service organization to any entity.
(d)
(1)
Each health insurance purchasing group shall collect and disseminate or arrange for the collection and dissemination of consumer-oriented information on the scope, cost, and enrollee satisfaction of all coverage options offered through the health insurance purchasing group to its members.
(2)
The information shall be defined by the health insurance purchasing group and shall be in a manner appropriate to the type of coverage offered.
(3)
To the extent practicable, the information shall include information on provider performance, locations, and hours of operation of providers, outcomes, and similar matters.
(4)
Nothing in this section shall be construed as preventing the dissemination of the information or other information by the health insurance purchasing group or by the healthcare insurer, health maintenance organization, or organization through electronic or other means.
(e)
The contract between a health insurance purchasing group and a health insurance purchasing group health carrier shall provide that the health insurance purchasing group may collect premiums on behalf of the issuer for coverage, less a predetermined administrative charge negotiated by the health insurance purchasing group and the issuer.
Acts 2001, No. 925, § 6.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-507 - Filing and form filing requirements

Each health insurance purchasing group shall file forms as may be described by rules of the Insurance Commissioner.
Amended by Act 2019, No. 315,§ 2755, eff. 7/24/2019.
Acts 2001, No. 925, § 7.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-508 - Prevention of conflicts of interest

(a)
A member of a board of directors of a health insurance purchasing group shall not serve as an employee or paid consultant to the health insurance purchasing group but may receive reasonable reimbursement for travel expenses for purposes of attending meetings of the board or committees thereof.
(b)
An individual is not eligible to serve in a paid or unpaid capacity on the board of directors of a health insurance purchasing group or as an employee of the health insurance purchasing group if the individual is employed by, represents in any capacity, owns, or controls any ownership interest in an organization from whom the health insurance purchasing group receives contributions, grants, or other funds, unless the organization has purchased a contract for coverage through the health insurance purchasing group.
(c)
(1)
An individual who is serving on a board of directors of a health insurance purchasing group as a representative described in subsection (b) of this section shall not be employed by or affiliated with a health insurance purchasing group health carrier.
(2)
As used in subdivision (c)(1) of this section, "affiliated" does not include membership in a health benefits plan or the obtaining of health benefits coverage offered by a health insurance purchasing group health carrier.
Acts 2001, No. 925, § 8; 2005, No. 506, § 46.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-509 - Health insurance purchasing group operations and coordination

(a)
Nothing in this subchapter shall be construed as preventing one (1) or more health insurance purchasing groups serving different areas, whether or not contiguous, from providing for some or all of the following through a single administrative organization or otherwise:
(1)
Coordinating the offering of the same or similar health benefits coverage in different areas served by the different health insurance purchasing groups; or
(2)
Providing for crediting of deductibles and other cost-sharing for individuals who are provided a health benefits plan through the health insurance purchasing group or affiliated health insurance purchasing group after:
(A)
A change of eligible employers through which the coverage is provided; or
(B)
A change in place of employment to an area not served by the previous health insurance purchasing group.
(b)
Nothing in this subchapter shall be construed as precluding a health insurance purchasing group from providing for adjustments in amounts distributed among the health insurance purchasing group health carrier offering a health benefits plan through the health insurance purchasing group, based on factors such as the relative healthcare risk of members enrolled under the coverage offered by the different issuers.
(c)
Nothing in this subchapter shall be construed as precluding a health insurance purchasing group from establishing minimum participation and contribution rules for eligible employers that apply to become purchasers in the health insurance purchasing group, so long as the rules are applied uniformly for all health insurance purchasing group health carriers.
Acts 2001, No. 925, § 9.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-510 - Premium rates

(a)
The health insurance purchasing group may determine what rating characteristics it will allow in the health benefit plan, including, but not limited to, age, sex, industry, geography, or health.
(b)
If health is used as a rating characteristic, then the rates for the size groups two through twenty-five (2-25) will be subject to the small group rating law as required in §
23-86-201
et seq. but may be considered separate from any small groups sold outside the health insurance purchasing group.
Acts 2001, No. 925, § 10.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-511 - Rules

The Insurance Commissioner may promulgate rules necessary to implement the provisions of this subchapter.
Amended by Act 2019, No. 315,§ 2756, eff. 7/24/2019.
Acts 2001, No. 925, § 11.
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 86 - GROUP AND BLANKET ACCIDENT AND HEALTH INSURANCE (§§ 23-86-101 — 23-86-512) › Subchapter 5 - SMALL EMPLOYER HEALTH INSURANCE PURCHASING GROUP ACT OF 2001 (§§ 23-86-501 — 23-86-512) › Section 23-86-512 - Health insurance purchasing group health carrier market

No health insurance purchasing group health carrier shall be required to offer health insurance purchasing group health benefits plans or health benefits plans not subject to state-mandated health benefits to nonhealth insurance purchasing group organizations, associations, or employer groups, including, but not limited to, the small employer health insurance group marketplace in this state.
Acts 2001, No. 925, § 12.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-101 - Title

This chapter may be cited as the "Model Act for the Regulation of Credit Life Insurance and Credit Disability Insurance".
Acts 1959, No. 148, § 428; A.S.A. 1947, § 66-3802.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-102 - Purpose

The purpose of this chapter is to promote the public welfare by regulating credit life insurance and credit disability insurance.
Acts 1959, No. 148, § 427; A.S.A. 1947, § 66-3801.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-103 - Definitions

For the purpose of this chapter, unless the context otherwise requires:
(1)
"Credit disability insurance" means insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy;
(2)
"Credit life insurance" means insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction for a period of time not to exceed ten (10) years;
(3)
"Creditor" means the lender of money or vendor or lessor of goods, services, property, rights, or privileges for which payment is arranged through a credit transaction, or any successor to the right, title, or interest of the lender, vendor, or lessor;
(4)
"Debtor" means a borrower of money or a purchaser or lessee of goods, services, property, rights, or privileges for which payment is arranged through a credit transaction; and
(5)
"Indebtedness" means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction.
Acts 1959, No. 148, § 430; 1973, No. 66, § 9; A.S.A. 1947, § 66-3804.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-104 - Scope

All life insurance and all disability insurance sold in connection with loans or other credit transactions shall be subject to the provisions of this chapter, except insurance sold in connection with a loan or other credit transaction of more than ten (10) years' duration.
Acts 1959, No. 148, § 429; 1973, No. 66, § 8; A.S.A. 1947, § 66-3803.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-105 - Construction

(a)
Nothing in this chapter is intended to prohibit or discourage reasonable competition.
(b)
The provisions of this chapter shall be liberally construed.
Acts 1959, No. 148, § 427; A.S.A. 1947, § 66-3801.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-106 - Penalties

(a)
In addition to any penalty provided by law, any person who violates an order of the Insurance Commissioner after it has become final, and while the order is in effect, shall, upon proof thereof to the satisfaction of the court, forfeit and pay to the State of Arkansas a sum not to exceed two hundred fifty dollars ($250) which may be recovered in a civil action. However, if the violation is found to be willful, the amount of the penalty shall be a sum not to exceed one thousand dollars ($1,000).
(b)
(1)
In the commissioner's discretion, the commissioner may also revoke or suspend the license or certificate of authority of the person guilty of any violation as set out in subsection (a) of this section.
(2)
The order for suspension or revocation shall be subject to judicial review as provided in §
23-61-307
.
Acts 1959, No. 148, §§ 444, 445; A.S.A. 1947, §§ 66-3818, 66-3819.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-107 - Policy forms

Credit life insurance and credit disability insurance shall be issued only in the following forms:
(1)
Individual policies of life insurance issued to debtors on the term plan;
(2)
Individual policies of disability insurance issued to debtors on a term plan, or disability provisions in individual life policies to provide coverage;
(3)
Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan; and
(4)
Group policies of disability insurance issued to creditors on a term plan insuring debtors, or disability provisions in group life policies to provide coverage.
Acts 1959, No. 148, § 431; A.S.A. 1947, § 66-3805.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-108 - Amount

(a)
Credit Life Insurance.
The amount of credit life insurance shall not exceed the original amount of the indebtedness and any interest included therein.
(b)
Credit Disability Insurance.
The amount of periodic indemnity payable by credit disability insurance in the event of disability, as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of indebtedness and shall not exceed the original indebtedness and any interest included therein divided by the number of periodic installments.
Acts 1959, No. 148, § 432; A.S.A. 1947, § 66-3806; Acts 2003, No. 1794, § 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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-109 - Term

(a)
(1)
Subject to acceptance by the insurer, the term of any credit life insurance or credit disability insurance shall commence on the date when the debtor becomes obligated to the creditor.
(2)
However, when a group policy provides coverage with respect to existing obligations, the insurance on a debtor with respect to that indebtedness shall commence on the effective date of the policy.
(b)
The term of the insurance shall not extend more than fifteen (15) days beyond the scheduled maturity date of the indebtedness except when extended without additional cost to the debtor.
(c)
If the indebtedness is discharged due to renewal or refinancing prior to the scheduled maturity date, the insurance in force shall be terminated before any new insurance may be issued in connection with the renewed or refinanced indebtedness.
(d)
In all cases of termination prior to scheduled maturity, a refund shall be paid or credited as provided in §
23-87-113
.
Acts 1959, No. 148, § 433; A.S.A. 1947, § 66-3807.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-111 - Delivery of policy or certificate

(a)
The individual policy or group certificate of insurance shall be delivered to the insured debtor at the time the indebtedness is incurred except as provided in subsection (b) of this section.
(b)
(1)
If the individual policy or group certificate of insurance is not delivered to the debtor at the time the indebtedness is incurred, a copy of the application for the policy or a notice of proposed insurance signed by the debtor and setting forth the name and home office address of the insurer, the name or names of the debtor, the amount of payment by the debtor separately in connection with credit life insurance and credit disability insurance coverage, and a brief description of the coverage provided or to be provided shall be delivered to the debtor at the time the indebtedness is incurred.
(2)
The copy of the application for or notice of proposed insurance shall refer exclusively to insurance coverage and shall be separate and apart from the loan, sale, or other credit statement of account, instrument, or agreement unless the information required by this section is prominently set forth therein.
(3)
Upon approval of the application, if any, or acceptance of the insurance and within thirty (30) days of the date upon which the indebtedness is incurred, the insurer shall cause the individual policy or group certificate of insurance to be delivered to the debtor.
(4)
The application or notice of proposed insurance shall state that upon acceptance by the insurer, the insurance shall become effective as of the date the indebtedness is incurred.
(5)
The insurer may rely upon the representations in the application regarding the health and employment of the applicant without further investigation or examination of the debtor.
(6)
If credit life insurance or credit disability insurance is rescinded due to material misrepresentation on the part of the insured, the insured shall be entitled to a full refund of the premium paid.
Acts 1959, No. 148, § 435; A.S.A. 1947, § 66-3809; Acts 2003, No. 1794, § 3.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-112 - Filing, approval, and withdrawal of policies, certificates, notices, etc

(a)
All policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements, and riders shall be filed with the insurance commissioner in the state in which the policy is issued.
(b)
Within thirty (30) days after the filing of all policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements, and riders, in addition to other requirements of law, the commissioner may disapprove the form if the table of premium rates charged or to be charged appears by reasonable assumptions to be excessive in relation to benefits or if it contains provisions that are unjust, unfair, inequitable, misleading, or deceptive or encourage misrepresentation of the policy.
(c)
(1)
If the commissioner notifies the insurer that the form does not comply with this section, it is unlawful thereafter for the insurer to issue or use the form.
(2)
In the notice, the commissioner shall specify the reason for his or her disapproval and state that a hearing will be granted within twenty (20) days after request in writing by the insurer.
(3)
No policy, certificate of insurance, notice of proposed insurance and no application, binder, endorsement, or rider shall be issued or used until the expiration of thirty (30) days after it has been so filed unless the commissioner gives his or her prior written approval thereto.
(d)
At any time after a hearing, of which not less than twenty (20) days' written notice was given to the insurer, the commissioner may withdraw his or her approval of any form on any such grounds.
(e)
It is not lawful for the insurer to issue the forms or use them after the effective date of the withdrawal of approval.
(f)
Any order or final determination of the commissioner under the provisions of this section shall be subject to judicial review.
Acts 1959, No. 148, § 436; A.S.A. 1947, § 66-3810; Acts 2003, No. 1794, § 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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-114 - Issuance of policies

All policies of credit life insurance and credit disability insurance shall be delivered or issued for delivery in this state only by an insurer authorized to do an insurance business therein and shall be issued only through holders of licenses issued by the Insurance Commissioner.
Acts 1959, No. 148, § 438; A.S.A. 1947, § 66-3812.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-115 - Claims

(a)
All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract.
(b)
All claims shall be paid by check or draft of the insurer to the order of, or by electronic funds transfer to an account of, the claimant to whom payment of the claim is due pursuant to the policy provisions, or upon direction of the claimant, to one specified.
(c)
No plan or arrangement shall be used whereby any person, firm, or corporation other than the insurer or its designated claim representative shall be authorized to settle or adjust claims. The creditor shall not be designated as claim representative for the insurer in adjusting claims, except that a group policyholder, by arrangement with the group insurer, may draw drafts or checks in payment of claims due to the group policyholder subject to audit and review by the insurer.
Amended by Act 2021, No. 367,§ 23, eff. 7/28/2021.
Acts 1959, No. 148, § 439; 1983, No. 477, § 1; A.S.A. 1947, § 66-3813.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-116 - Debtor's choice of insurer as additional security

When credit life insurance or credit disability insurance is required as additional security for any indebtedness, the debtor shall, upon request to the creditor, have the option of furnishing the required amount of insurance through existing policies of insurance owned or controlled by him or her or of procuring and furnishing the required coverage through any insurer authorized to transact an insurance business within this state.
Acts 1959, No. 148, § 440; A.S.A. 1947, § 66-3814.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-117 - Compensation limited

(a)
(1)
In order to assure that the premium rates charged or to be charged for credit life insurance or credit disability insurance are reasonable in relation to benefits provided, the Insurance Commissioner, after due notice and hearing, may issue rules establishing the maximum compensation payable to an agent, a broker, or a creditor or any affiliate, associate, subsidiary, director, officer, employee, or other representative of or for the creditor for writing or handling the insurance, including commission, dividends, premium adjustments, policy writing fees, underwriting gain, or any compensation or remuneration in whatever form.
(2)
An insurer may disclose the amount of commission or compensation payable to an agent, broker, or creditor under this section.
(b)
Provided, the term "compensation" as defined and used in this section shall not be deemed to include reinsurance premiums paid to, or underwriting profits generated by, an insurer or reinsurer owned by, controlled by, or under common control with a credit insurer, an agent, broker, creditor, group of creditors, or any affiliate, associate, subsidiary, director, officer, employee, or other representative of, or for such a credit insurer, creditor, or group of creditors, on accounts in existence with such an insurer or reinsurer on January 17, 1989, that have been registered with the commissioner within twenty (20) days of July 3, 1989, in accordance with pertinent rules promulgated by the commissioner.
(c)
Provided further, any and all payments to all direct and indirect successors in interests whether through purchase, gift, devise, or otherwise, related to all accounts registered under this section shall also not be deemed compensation.
Amended by Act 2019, No. 315,§ 2758, eff. 7/24/2019.
Amended by Act 2019, No. 315,§ 2757, eff. 7/24/2019.
Acts 1959, No. 148, § 441; 1985, No. 950, § 1; A.S.A. 1947, § 66-3815; Acts 1989, No. 177, § 1; 1989, No. 843, § 1; 2003, No. 1794, § 6.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-118 - Enforcement

(a)
After notice and hearing, the Insurance Commissioner may issue such rules as the commissioner deems appropriate for the supervision of this chapter.
(b)
(1)
Whenever the commissioner finds that there has been a violation of this chapter or any rules issued pursuant thereto, and after written notice thereof and hearing given to the insurer or other person licensed by the commissioner, the commissioner shall set forth the details of his or her findings together with an order for compliance by a specified date.
(2)
The order shall be binding on the insurer and other person licensed by the commissioner on the date specified unless sooner withdrawn by the commissioner or a stay thereof has been ordered by a court of competent jurisdiction.
Amended by Act 2019, No. 315,§ 2759, eff. 7/24/2019.
Acts 1959, No. 148, § 442; A.S.A. 1947, § 66-3816.
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 87 - MODEL ACT FOR THE REGULATION OF CREDIT LIFE INSURANCE AND CREDIT DISABILITY INSURANCE (§§ 23-87-101 — 23-87-119) › Section 23-87-119 - Judicial review

Any party to the proceeding affected by an order of the Insurance Commissioner shall be entitled to judicial review by following the procedure set forth in §
23-61-307
.
Acts 1959, No. 148, § 443; A.S.A. 1947, § 66-3817.
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 88 - PROPERTY INSURANCE (§§ 23-88-101 — 23-88-507) › Subchapter 1 - GENERAL PROVISIONS (§§ 23-88-101 — 23-88-106) › Section 23-88-101 - Valued policy law

(a)
(1)
Except as provided in subsection (b) of this section, in case of a total loss by fire or natural disaster of the property insured, a property insurance policy other than for flood and earthquake insurance shall be held and considered to be a liquidated demand against the company taking the risk for the full amount stated in the property insurance policy or the full amount upon which the company charges, collects, or receives a premium.
(2)
For property covered under a commercial insurance policy, the amount paid under subdivision (a)(1) of this section shall be reduced by the amount of retention or deductible provided by the commercial insurance policy.
(b)
This section does not apply:
(1)
If a total loss by fire or a natural disaster other than a flood or an earthquake:
(A)
Is caused by the insured or someone acting on behalf of or in collusion with the insured, through:
(i)
A criminal act;
(ii)
Intentional misrepresentation;
(iii)
Fraud; or
(iv)
Deceit; or
(B)
(i)
Is covered by two (2) or more property insurance policies that insure the same property.
(ii)
If two (2) or more property insurance policies insure the same property:
(a)
The insured shall recover the lesser of:
(1)
The face amount of the property insurance policy with the highest limit of coverage; or
(2)
The insured's interest in the property; and
(b)
Each insurer shall pay the proportionate share that its property insurance policy bears to the amount the insured is entitled to recover under subdivision (b)(1)(B)(ii)
(a)
of this section;
(2)
If the completed value of a building, structure, mobile home, or manufactured building is insured under a builder's risk insurance policy;
(3)
(A)
If the claim is for the total loss of a building that is insured under a blanket insurance policy for a stated amount that covers two (2) or more buildings or that covers buildings and personal property.
(B)
Settlement of a claim for the total loss to a building that is insured by a blanket insurance policy for a stated amount that covers two (2) or more buildings or that covers buildings and personal property shall be based on an initial payment of the value assigned for the purpose of rating the policy to each affected building before the loss, with any balance remaining being settled according to the terms and conditions of the blanket insurance policy; or
(4)
To personal property or detached or appurtenant structures.
Amended by Act 2017, No. 683,§ 1, eff. 8/1/2017.
Amended by Act 2015, No. 1210,§ 5, eff. 7/22/2015.
Acts 1959, No. 148, § 446; A.S.A. 1947, § 66-3901; Acts 1999, No. 1069, § 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 88 - PROPERTY INSURANCE (§§ 23-88-101 — 23-88-507) › Subchapter 1 - GENERAL PROVISIONS (§§ 23-88-101 — 23-88-106) › Section 23-88-102 - Paying costs of volunteer fire department services

(a)
The amount charged by a volunteer fire department for the cost of its services in responding to a fire on or an emergency call concerning the property of a nonmember within its district shall not exceed an amount equal to the fair market value of the service rendered, except that a claim for services in responding to a fire involving only personal property shall be allowed only for personal property of nonmembers, and the claimed amount shall not exceed five hundred dollars ($500).
(b)
(1)
When a volunteer fire department responds to a fire occurring or responds to a 911 or other fire emergency call within its district and the property that is the subject of the alarm is owned by a nonmember and insured in case of any damage resulting from a fire, the insurance company insuring the property against loss shall pay to the volunteer fire department the fair market value of its services from the insurance proceeds.
(2)
Notice to both the insurance company and to the insured nonmember by the volunteer fire department for its costs of services shall be by certified mail within thirty (30) days after the date of the services rendered.
(c)
(1)
(A)
In the event a nonmember desires to contest an assessment, the nonmember may notify the fire department board of his or her objection to the assessment, and the fire department board shall file a civil suit in the nearest district court within ten (10) days asking for the amount claimed by the fire department.
(B)
The district court shall give a hearing on the matter within ten (10) days to determine if the amount claimed is fair compensation for the services rendered.
(2)
If the amount of the assessment is contested in district court, the fire department shall immediately notify the insurer of the nonmember's property by certified mail, and the insurer shall upon notification pay into the registry of the court an amount equal to the assessment made by the volunteer fire department for fire services.
(d)
The insurer shall not be liable for any amount of money that exceeds the face amount of the policy unless the provisions of the policy provide otherwise.
Acts 1987, No. 836, § 2; 1991, No. 984, §§ 1, 2; 1997, No. 1150, § 5; 2007, No. 581, § 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 88 - PROPERTY INSURANCE (§§ 23-88-101 — 23-88-507) › Subchapter 1 - GENERAL PROVISIONS (§§ 23-88-101 — 23-88-106) › Section 23-88-104 - Fire protection to be considered in property insurance rating plans

When making a rate or rule filing, an insurer shall include an impact statement concerning the filing's effect on fire protection in the affected area unless the insurer utilizes a public protection classification system maintained by a licensed advisory organization.
Acts 2003, No. 1749, § 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 88 - PROPERTY INSURANCE (§§ 23-88-101 — 23-88-507) › Subchapter 1 - GENERAL PROVISIONS (§§ 23-88-101 — 23-88-106) › Section 23-88-105 - Notice required prior to expiration of property insurance policy - Definition

(a)
Except for nonpayment of premium, the insurer shall give either a written notice of nonrenewal or an offer of renewal at least thirty (30) days prior to the expiration of the policy's existing term.
(b)
The insurer shall send the insured a written notice and the insurance producer written or electronic notice of the offer of renewal under subsection (a) of this section, indicating the new premium and providing a description of any change in deductible or policy provision in the renewal policy.
(c)
As used in this section, "renewal" means the issuance or delivery by an insurer of a policy superseding a policy previously issued by the insurer at the end of the previously issued policy period if the policy is delivered by:
(1)
The same insurer; or
(2)
An affiliate or subsidiary, as those terms are defined in §
23-63-503
, that has a financial strength rating that is:
(A)
Issued by an industry-recognized independent insurance rating company; and
(B)
At least as good as the insurer issuing the superseded policy.
Amended by Act 2019, No. 689,§ 4, eff. 7/24/2019.
Acts 2003, No. 1790, § 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 88 - PROPERTY INSURANCE (§§ 23-88-101 — 23-88-507) › Subchapter 1 - GENERAL PROVISIONS (§§ 23-88-101 — 23-88-106) › Section 23-88-106 - Expense depreciation applicable when determining value of damaged property in insurance policies - Definitions

(a)
As used in this section:
(1)
"Damaged property" means a damaged dwelling, a damaged structure, damaged personal property, or any other damaged property or service, the damage to which is covered under the terms of an insurance policy; and
(2)
"Expense depreciation" means depreciation, including but not limited to the cost of goods, materials, labor, and services necessary to replace, repair, or rebuild damaged property.
(b)
An insurance policy covering damaged property:
(1)
May allow for expense depreciation; and
(2)
Shall provide notice within the insurance policy in a form approved by the Insurance Commissioner that expense depreciation may be deducted.
(c)
If expense depreciation is applied to a loss for damaged property, the insurer shall provide a written explanation as to how the expense depreciation was calculated.
Added by Act 2017, No. 279,§ 1, eff. 8/1/2017.
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 88 - PROPERTY INSURANCE (§§ 23-88-101 — 23-88-507) › Subchapter 2 - ANTIARSON APPLICATIONS (§§ 23-88-201 — 23-88-210) › Section 23-88-201 - Purpose

The purpose of this subchapter is to promote the public welfare by reducing the loss of life and fire damage to property caused by the crime of arson by requiring insurance companies to secure antiarson applications from applicants for new policies of property insurance containing information to control the incidence of arson fraud.
Acts 1983, No. 359, § 1; A.S.A. 1947, § 66-5606.
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 88 - PROPERTY INSURANCE (§§ 23-88-101 — 23-88-507) › Subchapter 2 - ANTIARSON APPLICATIONS (§§ 23-88-201 — 23-88-210) › Section 23-88-202 - Definition

As used in this subchapter, "antiarson application" means any application for insurance covering the peril of fire that includes certain questions which shall be answered by the applicant in addition to the basic information normally supplied to an insurer by an applicant.
Acts 1983, No. 359, § 2; A.S.A. 1947, § 66-5607.