Arkansas Administrative Code › Agency 054 - Arkansas Insurance Department › Rule 054.00.98-010 - Rule and Regulation 15 - Insurance Holding Company Systems with Reporting Forms and Instructions

Current through Register Vol. 49, No. 6, June, 2024
SECTION 1.
AUTHORITY.
This Rule and Regulation is promulgated by the Commissioner
			 pursuant to the authority granted by Arkansas Code Annotated §§23-61
			 -108,
			 23-63-518 and
			 25-15-201, et
			 seq.
SECTION 2.
EFFECTIVE DATE.
This Rule and Regulation shall become effective January 1,
			 1999.
SECTION 3.
PURPOSE.
The purposes of this Rule and Regulation are: to set forth rules
			 and procedural requirements which the Commissioner deems necessary to carry out
			 the provisions of Ark. Code Ann. §§
								23-63-501, et
			 seq., The Insurance Holding Company Regulatory Act, hereinafter referred to as
			 "the
Act". The information called for by this Rule and Regulation is
			 hereby declared to be necessary and appropriate in the public interest and for
			 the protection of the policyholders in this State.
SECTION 4.
SEVERABILITY CLAUSE.
If any provision of this Rule and Regulation, or the application
			 thereof to any person or circumstance, is held invalid, such invalidity shall
			 not affect other provisions or applications of this Rule and Regulation which
			 can be given effect without the invalid provision or application, and to that
			 end the provisions of this Rule and Regulation are severable.
SECTION 5.
FORMS - GENERAL
		  REQUIREMENTS.
(a) Forms A, B, C, D, and
		  E are intended to be guides in the preparation of the statements required by
		  the Act. They are not intended to be blank forms which are to be filled in. The
		  statements filed shall contain the numbers and captions of all items, but the
		  text of the items may be omitted provided the answers thereto are so prepared
		  as to indicate to the reader the coverage of the items. All instructions,
		  whether appearing under the items of the form or elsewhere therein, are to be
		  omitted. Unless expressly provided otherwise, if any item is inapplicable or
		  the answer thereto is in the negative, an appropriate statement to that effect
		  shall be made.
(b) Two (2) complete
		  copies of each statement including exhibits and all other papers and documents
		  filed as a part thereof, accompanied by the appropriate Rule 57 filing fee,
		  shall be filed with the Commissioner of the State of Arkansas by personal
		  delivery or mail addressed to:
Insurance Commissioner of the State of Arkansas
1200 West Third Street
Little Rock, Arkansas 72201-1904
Attention: Legal Division.
A copy of Form C shall be filed in each state in which an insurer
			 is authorized to do business, if the Commissioner of that state has notified
			 the insurer of its request in writing, in which case the insurer has twenty
			 (20) days from receipt of the notice to file such form. At least one of the
			 copies shall be manually signed in the manner prescribed on the form. Unsigned
			 copies shall be conformed. If the signature of any person is affixed pursuant
			 to a power of attorney or other similar authority, a copy of such power of
			 attorney or other authority shall also be filed with the
			 statement.
(c) Statements
		  should be prepared on paper 8 1/2" x 11" in size and preferably bound at the
		  top or the top left-hand corner. Exhibits and financial statements, unless
		  specifically prepared for the filing, may be submitted in their original size.
		  All copies of any statement, financial statements, or exhibits shall be clear,
		  easily readable and suitable for photocopying. Debits in credit categories and
		  credits in debit categories shall be designated so as to be clearly
		  distinguishable as such on photocopies. Statements shall be in the English
		  language and monetary values shall be stated in United States currency. If any
		  exhibit or other paper or document filed with the statement is in a foreign
		  language, it shall be accompanied by a translation into the English language
		  and any monetary value shown in a foreign currency normally shall be converted
		  into United States currency.