Title 23 — Public Utilities and Regulated Industries
95 chapters · 4,024 sections in this title.
Ark. Code Ann. § 23-63-1804 Recoupments — Required disclosures
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(1) If a healthcare insurer exercises recoupment, then the healthcare insurer shall provide the healthcare provider written documentation that specifies the:(1) Amount of the recoupment;(2) Covered person's name to whom the recoupment applies;(3) Patient identification number;(4)…
Ark. Code Ann. § 23-63-1805 Penalties
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The failure to comply with any provision of this subchapter shall be deemed an unfair trade practice under the Trade Practices Act, § 23-66-201 et seq., and may be punished by the fines and penalties established under §§ 23-60-108, 23-66-210, and 23-66-215.
Ark. Code Ann. § 23-63-1806 Rules
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The Insurance Commissioner shall adopt rules by January 1, 2006, to ensure compliance with this subchapter.
Ark. Code Ann. § 23-63-1807 No waiver of provisions
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The provisions of this subchapter shall not be waived, voided, or nullified by contract.
Ark. Code Ann. § 23-63-1808 Application — Audit recoupment
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The provisions of this subchapter that allow for audit recoupment from healthcare providers do not apply to a service that was authorized under § 23-99-1109, § 23-99-1113, or § 23-99-1116, except as provided for in § 23-99-1109(b).
Ark. Code Ann. § 23-63-1901 Title
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This subchapter shall be known and may be cited as the “Property and Casualty Actuarial Opinion Law”.
Ark. Code Ann. § 23-63-1902 Definitions
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(1) As used in this subchapter:(1) “Actuarial opinion summary” means a summary of the information supporting a statement of actuarial opinion;(2) “Appointed actuary” means the actuary appointed by a property and casualty insurance company to prepare a statement of actuarial opini…
Ark. Code Ann. § 23-63-1903 Annual statement of actuarial opinion, actuarial opinion summary, and supporting documentation required
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(a) (1) Unless exempted by the Insurance Commissioner, a property and casualty insurance company doing business in this state shall annually file with the commissioner a statement of actuarial opinion and an actuarial opinion summary.(2) A property and casualty insurance company …
Ark. Code Ann. § 23-63-1904 Liability of appointed actuary
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An appointed actuary is not liable for damages to any person other than the property and casualty insurance company or the Insurance Commissioner, or both the property and casualty insurance company and the commissioner, for any act, error, omission, decision, or conduct with res…
Ark. Code Ann. § 23-63-1905 Confidentiality
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(a) The statement of actuarial opinion shall be filed with the annual statement required by § 23-63-216 and treated as a public record under the Freedom of Information Act of 1967, § 25-19-101 et seq. (b) (1) Documents, materials, or other information in the possession or control…
Ark. Code Ann. § 23-63-2001 Title
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This subchapter shall be known and may be cited as the “Corporate Governance Annual Disclosure Act”.
Ark. Code Ann. § 23-63-2002 Purpose — Intent
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(a) The purpose of this subchapter is to:(1) Provide the Insurance Commissioner a summary of the corporate governance structure, policies, and practices of an insurer or insurance group to allow the commissioner an opportunity to gain and maintain a better understanding of the co…
Ark. Code Ann. § 23-63-2003 Definitions
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(1) As used in this subchapter:(1) “Corporate governance annual disclosure” means a confidential report filed by an insurer or insurance group made according to this subchapter;(2) “Insurance group” means those insurers and affiliates included within an insurance holding company …
Ark. Code Ann. § 23-63-2004 Submission of corporate governance annual disclosure to Insurance Commissioner required
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(a) (1) On or before June 1 of each calendar year, an insurer, or the insurance group of which the insurer is a member, shall submit a corporate governance annual disclosure to the Insurance Commissioner.(2) The corporate governance annual disclosure required under subdivision (a…
Ark. Code Ann. § 23-63-2005 Corporate governance annual disclosure
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(a) (1) The insurer or insurance group shall have discretion over the responses to the corporate governance annual disclosure inquiries or questions if the corporate governance annual disclosure contains the material information necessary to permit the Insurance Commissioner to g…
Ark. Code Ann. § 23-63-2006 Confidentiality
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(a) Documents, materials, or other information, including the corporate governance annual disclosure, in the possession or control of the State Insurance Department and obtained by, created by, or disclosed to the Insurance Commissioner or any other person under this subchapter, …
Ark. Code Ann. § 23-63-2007 Third-party consultants
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(a) The Insurance Commissioner may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the commissioner's staff, as may be reasonably necessary to assist the commissioner in reviewing th…
Ark. Code Ann. § 23-63-2008 Penalties
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(a) An insurer failing, without just cause, to timely file the corporate governance annual disclosure as required under this subchapter shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay, payable to the Insurance Commi…
Ark. Code Ann. § 23-63-2009 Severability clause
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(a) Except for § 23-63-2007 or the application of § 23-63-2007 to any person or circumstance, if any provision of this subchapter is held invalid, the determination shall not affect the provisions of this subchapter that can be given effect without the invalid provision or applic…
Ark. Code Ann. § 23-63-201 Certificate of authority required — Exceptions
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(a) No person shall act as an insurer and no insurer shall transact insurance in this state unless authorized by a subsisting certificate of authority issued to it by the Insurance Commissioner except as to such transactions as are expressly otherwise provided for in the Arkansas…
Ark. Code Ann. § 23-63-2010 Rules
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(a) The Insurance Commissioner shall promulgate rules necessary to implement this subchapter. (b) (1) When adopting the initial rules to implement this subchapter, the final rule shall be filed with the Secretary of State for adoption under § 25-15-204(f):(A) On or before January…
Ark. Code Ann. § 23-63-202 Certificate of authority — Eligibility generally
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(1) To qualify for and hold authority to transact insurance in this state, an insurer must be otherwise in compliance with the Arkansas Insurance Code and with its charter powers and must be an incorporated stock insurer, an incorporated mutual insurer, or a reciprocal insurer, a…
Ark. Code Ann. § 23-63-203 Certificate of authority — Eligibility — Name of insurer
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(a) No insurer shall be authorized by original certificate of authority to transact insurance in this state which has or uses a name so similar to that of another insurer already so authorized as likely to mislead the public. (b) No life insurer shall be so authorized which has o…
Ark. Code Ann. § 23-63-204 Certificate of authority — Eligibility — Combinations of kinds of insurance
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(1) An insurer which otherwise qualifies therefor may be authorized to transact any one (1) kind or combination of kinds of insurance, as defined in §§ 23-62-101 — 23-62-108, except:(1) A life insurer shall be authorized to transact in addition only accident and health insurance.…
Ark. Code Ann. § 23-63-205 Certificate of authority — Eligibility — Capital funds
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(a) (1) On and after January 1, 2006, to qualify for and maintain authority to transact any one (1) kind of insurance, as defined in §§ 23-62-101 — 23-62-108, or combination of kinds of insurance as shown in this subsection, an insurer applying for its original certificate of aut…
Ark. Code Ann. § 23-63-206 Certificate of authority — Deposit of securities required
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(a) All insurers authorized to transact insurance in this state shall make and maintain a deposit of securities as follows:(1) (A) (i) All insurers authorized to transact only life or accident and health insurance, or both, shall deposit through the Insurance Commissioner and sub…
Ark. Code Ann. § 23-63-207 Certificate of authority — Eligibility — Special surplus
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(a) In addition to the minimum paid-in capital stock if stock insurers, or minimum surplus if mutual and reciprocal insurers, required by § 23-63-205, special surplus shall be possessed by insurers hereafter applying for original certificates of authority in this state as follows…
Ark. Code Ann. § 23-63-208 Certificate of authority — Eligibility — Lloyd's plan insurers
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(a) Foreign Lloyd's plan insurers that held certificates of authority to transact insurance in this state immediately prior to January 1, 1960, may continue to be so authorized while maintaining surplus as required under § 23-63-205(b) of foreign mutual insurers transacting like …
Ark. Code Ann. § 23-63-209 Certificate of authority — Application
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(a) To apply for an original certificate of authority, an insurer shall file with the Insurance Commissioner its application therefor, accompanied by the applicable fees as specified in § 23-61-401, showing its name, location of its home office or principal office in the United S…
Ark. Code Ann. § 23-63-210 Certificate of authority — Issuance
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(a) The certificate of authority, if issued, shall specify the kind or kinds of insurance the insurer is authorized to transact in Arkansas. At the insurer's request, the Insurance Commissioner may issue a certificate of authority limited to particular types of insurance or insur…
Ark. Code Ann. § 23-63-211 Certificate of authority — Continuance, expiration, amendment, or surrender
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(a) Certificates of authority issued or renewed under the Arkansas Insurance Code shall continue in force as long as the insurer is entitled thereto under the Arkansas Insurance Code and until suspended, revoked, or otherwise terminated. However, they are subject to continuance o…
Ark. Code Ann. § 23-63-212 Certificate of authority — Mandatory suspension or revocation
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(a) The Insurance Commissioner shall suspend or revoke an insurer's certificate of authority:(1) If the action is required by any provision of the Arkansas Insurance Code;(2) If the insurer no longer meets the requirements for the authority originally granted, on account of defic…
Ark. Code Ann. § 23-63-213 Certificate of authority — Suspension or revocation for certain violations
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(a) The Insurance Commissioner shall, after a hearing thereon, suspend or revoke an insurer's certificate of authority if he or she finds that the insurer:(1) (A) Is in unsound condition, or is in such condition or is using such methods and practices in the conduct of its busines…
Ark. Code Ann. § 23-63-214 Certificate of authority — Notice of suspension or revocation
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(a) Suspension or revocation of an insurer's certificate of authority shall be by the Insurance Commissioner's order given to the insurer as provided by § 23-61-109. (b) The commissioner shall promptly also give notice of the suspension or revocation to the insurer's agents in th…
Ark. Code Ann. § 23-63-215 Certificate of authority — Period of suspension — Reinstatement
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(a) The suspension of an insurer's certificate of authority is indefinite unless:(1) A specific period is fixed by the Insurance Commissioner in the order of suspension; or(2) The commissioner shortens or rescinds the suspension. (1) A specific period is fixed by the Insurance Co…
Ark. Code Ann. § 23-63-216 Annual statement and other information
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(a) (1) Annually on or before March 1 or within an extension of time that the Insurance Commissioner for good cause may have granted, each authorized insurer shall file with the commissioner a full and true statement of its financial condition, transactions, and affairs as of the…
Ark. Code Ann. § 23-63-217 [Repealed.]
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A.C.A. § 23-63-217Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 23-63-218 Change of domicile
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(a) Any insurer which is organized under the laws of any other state and is admitted to do business in this state for the purpose of writing insurance may become a domestic insurer by complying with all of the requirements of law relative to the organization and licensing of a do…
Ark. Code Ann. § 23-63-301 Registered office and registered agent for foreign or alien insurer and domestic reciprocal insurers
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(1) Each foreign insurer applying for a certificate of authority to transact business in Arkansas and every domestic reciprocal insurer must designate and continuously maintain in the state:(1) A registered office that may be the same as any of its places of business; and(2) A re…
Ark. Code Ann. § 23-63-302 Change of registered office or registered agent
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(a) A licensed foreign or alien insurer or a licensed domestic reciprocal insurer may change its registered office or registered agent by delivering to the Insurance Commissioner for filing a statement of change that sets forth:(1) Its name;(2) The street address of its current r…
Ark. Code Ann. § 23-63-303 Resignation of registered agent
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(a) The registered agent of a licensed foreign insurer or a domestic reciprocal insurer may resign his or her agency appointment by signing and delivering to the Insurance Commissioner for filing the original and two (2) exact or conformed copies of a statement of resignation. Th…
Ark. Code Ann. § 23-63-304 Service of process of foreign or alien insurers or domestic reciprocal insurers
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(a) The registered agent of a licensed foreign insurer or a licensed domestic reciprocal insurer is the insurer's agent for service of process, notice, or demand required or permitted by law to be served on the insurer. (b) A licensed foreign insurer or a licensed domestic recipr…
Ark. Code Ann. § 23-63-501 Title
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This subchapter may be cited as the “Insurance Holding Company Regulatory Act”.
Ark. Code Ann. § 23-63-502 Legislative findings
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(a) (1) It is found and declared that it may not be inconsistent with the public interest and the interest of policyholders and shareholders to permit insurers to:(A) Engage in activities which would enable them to make better use of management skills and facilities;(B) Diversify…
Ark. Code Ann. § 23-63-503 Definitions
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(1) As used in this subchapter:(1) “Affiliate” of or person “affiliated” with a specific person means a person that directly or indirectly through one (1) or more intermediaries controls, is controlled by, or is under common control with the person specified;(2) (A) “Control” or …
Ark. Code Ann. § 23-63-504 [Repealed.]
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A.C.A. § 23-63-504Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 23-63-505 Subsidiaries of insurer
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(a) (1) A domestic insurer, subject to this subchapter, either by itself or in cooperation with one (1) or more persons, may organize or acquire one (1) or more subsidiaries.(2) (A) The subsidiaries under subdivision (a)(1) of this section may conduct any kind of business authori…
Ark. Code Ann. § 23-63-506 Control of or merger with domestic insurer — Filing requirements — Definition
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(a) (1) No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire, in the open market or otherwise, any voting security of a domestic insurer if, aft…
Ark. Code Ann. § 23-63-507 Control of or merger with domestic insurer — Exceptions
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(1) The provisions of §§ 23-63-506 — 23-63-513 shall not apply to:(1) Any offers, requests, invitations, agreements, or acquisitions by the person referred to in § 23-63-506 of any voting security referred to in that section which, immediately prior to the consummation of the off…
Ark. Code Ann. § 23-63-508 Control of or merger with domestic insurer — Content of statement
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(a) The statement to be filed with the Insurance Commissioner pursuant to this section shall be made under oath or affirmation and shall contain the following information:(1) The name and address of each person by whom or on whose behalf the merger or other acquisition of control…