Arkansas Administrative Code › Agency 054 - Arkansas Insurance Department › Rule 054.00.91-005 - 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 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,
			 1992.
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, and D 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. These 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 without the necessity of his referring to
		  the text of the items or the instructions thereto. 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, shall be filed with the Commissioner by personal delivery or
		  mail addressed to:
Insurance Commissioner of the State of Arkansas
400 University Tower Building
Little Rack, Arkansas 72204
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"x11" 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.