To the extent that an account does not exceed an amount equal to the sum of all reserve accounts, except specific or valuation reserves, undivided profits, surplus, and capital stock, but not including the proceeds of capital notes, debentures, or similar obligations, an insurer may invest in share or savings accounts of savings or building and loan associations.
Savings and loan associations
Ark. Code Ann. § 23-63-823 — under Insurance Companies Generally.
Ark. Code Ann. § 23-63-823