Arkansas Administrative Code › Agency 054 - Arkansas Insurance Department › Rule 054.00.99-005 - Rule and Regulation 57 Insurance Department Administrative and Regulatory Fees

Current through Register Vol. 49, No. 6, June, 2024
SECTION 1. PURPOSE.
The purpose of this Rule and Regulation Is to implement and
			 clarify the pertinent fee provisions of Act 652 of 1993, "The State Insurance
			 Department Trust Fund Act" [codified at Ark. Code Ann. §§
								23-61-701 et
			 seq.]; Act 901 of 1993, the Department's "Omnibus Act"; Act 787 of 1993, the
			 "Life Care Providers Act" [codified at Ark. Code Ann. §§
								23-93-201
			 et seq.] and others. This Rule is designed to specify the amount, method and
			 manner of payment of nonrefundable administrative and regulatory fees of
			 insurers, agents and other licensees or registrants, as well as other filing
			 fees for various Arkansas Insurance Department ("Department") products and
			 services, all of which are payable to "The State Insurance Department Trust
			 Fund" ("Trust Fund").
a convenience to the reader, certain statutory fees are
			 referenced within this Regulation to assist the reader in determining the
			 appropriate fee amount, when both the statute and this Regulation charge
			 different fees for the same services. Note also, that a few fees referenced
			 herein list an annual or biennial fee amount but may be due on an annual or
			 biennial schedule.
(3) The
		  Commissioner in his discretion may waive all or any part of any fee assessed
		  under this if:
(A) the Certificate of
		  Authority, license, permit or registration is suspended or revoked;
(B) if the Commissioner finds that the
		  licensee, permittee or registrant is impaired or insolvent, or its continuing
		  operations are hazardous to the public of this State; or
(C) if the licensee, permittee or registrant
		  is under domiciliary department supervision of this or another State, or
		  court-ordered conservation, rehabilitation, liquidation or has filed for
		  bankruptcy under Chapter 11 of Title 11, United States Code. Any licensee,
		  permittee, registrant or its domiciliary conservator, rehabilitator,
		  liquidator, or trustee in bankruptcy may request a fee waiver in writing; but
		  the Commissioner may not consider waivers for those failing to file a written
		  request therefor. Upon activation or reinstatement of any suspended certificate
		  of authority, license, permit or registration, or upon approval of a bankruptcy
		  reorganization plan or successful release from conservation or rehabilitation,
		  then the licensee, permittee, or registrant shall automatically commence
		  reporting and payment of any of the fees in this Rule applicable to resumed
		  Arkansas operations under the license, permit or registration. Trust Fund
		  reimbursement for fees which would have been required and assessed but for the
		  waiver during that period shall not be required. Upon failure of any such
		  person, firm, or corporation to file for waiver or pay the fees when due, or
		  upon the Commissioner's denial of the requested waiver, the Commissioner may
		  file his claim on behalf of the Trust Fund against any deposit or other asset
		  of the person, firm or corporation as permitted by insurance and other
		  applicable laws of this State.