Title 23 — Public Utilities and Regulated Industries

95 chapters · 4,024 sections in this title.

238 sectionsFiltered byTitle 23 Ch 63

Ark. Code Ann. § 23-63-1001 Court, judicial, and certain other bonds
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(a) (1) Upon compliance with the provisions of the Arkansas Insurance Code, a surety insurer may become surety upon any bond or other contract of any person and may become surety upon any bond required to be given by any person in the course of judicial proceedings or upon the bo…
Ark. Code Ann. § 23-63-1002 Bonds given by state, county, or municipal officers
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(a) All bonds or other obligations required or desired to be given by any state, county, or municipal officer for the due performance of the duties of his or her office or for the due accounting of money coming to his or her hands or for any other purpose whatever shall be suffic…
Ark. Code Ann. § 23-63-1003 Insurer's rights as surety same as individual's
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(a) A surety insurer authorized as such under the Arkansas Insurance Code shall have the same power and authority to become surety upon all bonds required by law or desired by contracting parties and shall be vested with the same rights and be subject to all the liabilities as in…
Ark. Code Ann. § 23-63-1004 Estoppel to deny corporate power to be surety
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In any action brought against a surety insurer to enforce the liability assumed by it under any bond or contract, the insurer is estopped from denying its corporate or other power to execute that bond or guaranty or to assume the liability.
Ark. Code Ann. § 23-63-101 [Repealed.]
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A.C.A. § 23-63-101Current 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. § 23-63-102 Retaliation for foreign taxes, fees, restrictions, etc
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(a) The Insurance Commissioner shall impose upon any insurer or upon the agent or representative of that insurer of any other state or any foreign country doing business in the State of Arkansas the same taxes, licenses, and other fees, in the aggregate, and the same fines, penal…
Ark. Code Ann. § 23-63-103 Retaliation for unjustified refusal to permit business because of similar name
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Whenever any other state or foreign country refuses to permit any life insurer domiciled in Arkansas to enter in and transact insurance in the state or country upon the grounds that the name of the Arkansas insurer is the same or similar to the name of a life insurer domiciled in…
Ark. Code Ann. § 23-63-104 Domicile of alien insurer
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(a) For the purpose of the Arkansas Insurance Code, except as provided under § 23-68-102(6), the domicile of an alien insurer, other than insurers formed under the laws of Canada, shall be that state designated by the insurer in writing filed with the Insurance Commissioner at ti…
Ark. Code Ann. § 23-63-105 Service contracts to perform administrative functions
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(a) (1) No domestic insurer shall make any contract with any insurance company or holding company or any other type of company whereby the company is to perform substantially all of the administrative functions for the insurer until that contract is filed with and has received pr…
Ark. Code Ann. § 23-63-106 [Repealed.]
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A.C.A. § 23-63-106Current 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. § 23-63-107 Prompt processing of payment by insurer
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(a) An insurer shall not intentionally or unreasonably delay, for more than three (3) business days after presentment for collection, the processing of any properly executed and endorsed check, draft, or electronic funds transfer issued in settlement of an insurance claim. (b) It…
Ark. Code Ann. § 23-63-108 [Repealed.]
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A.C.A. § 23-63-108Current 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. § 23-63-109 Natural causes
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(a) (1) No insurance policy or contract covering damages to property shall be cancelled nor the renewal thereof denied solely as a result of claims arising from natural causes.(2) “Natural cause” is defined as an act occasioned exclusively by the violence of nature where all huma…
Ark. Code Ann. § 23-63-110 Policy cancellation or premium increase
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(a) No insurance policy or contract after being issued by an insurer authorized to transact business in this state may be cancelled nor may the premium for such a policy be increased solely as a result of claims made under the policy which resulted in no loss to the insurer. (b) …
Ark. Code Ann. § 23-63-1101 Title
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This subchapter may be cited as the “Business Transacted with Producer Controlled Property and Casualty Insurer Act”.
Ark. Code Ann. § 23-63-1102 Definitions
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(1) As used in this subchapter:(1) “Accredited state” means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Co…
Ark. Code Ann. § 23-63-1103 Date of required compliance
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Compliance with this subchapter shall be required on and after January 1, 1994.
Ark. Code Ann. § 23-63-1104 Applicability
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(a) This subchapter shall apply to licensed insurers as defined in § 23-63-1102 either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. (b) All provisions of the Insurance Holding Company Regulatory Act,…
Ark. Code Ann. § 23-63-1105 Minimum standards
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(a) (1) The provisions of this section shall apply if, in any calendar year, the aggregate amount of gross premiums on business placed with a controlled insurer by a controlling producer is equal to or greater than five percent (5%) of the admitted assets of the controlled insure…
Ark. Code Ann. § 23-63-1106 Disclosure
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The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that, if the business is placed through a subproducer who is not a controlling prod…
Ark. Code Ann. § 23-63-1107 Penalties
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(a) (1) If the Insurance Commissioner believes that the controlling producer or any other person has not materially complied with this subchapter, after notice and hearing, the commissioner may order the controlling producer to cease placing business with the controlled insurer.(…
Ark. Code Ann. § 23-63-111 Policyholder's right to loss information — Definition
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(a) (1) (A) Upon written request, each licensed property and casualty insurer shall mail or deliver the policyholder's claim loss information to the policyholder or his or her authorized producer within thirty (30) days from the date of receipt of the request from the policyholde…
Ark. Code Ann. § 23-63-112 Notice of intent to settle
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(a) An insurer shall provide its insured written notice of the terms of settlement of a claim if the insured:(1) Notifies the insurer in writing that the amount of or liability for the claim is contested; and(2) Requests in writing notice of the insurer's settlement of the claim.…
Ark. Code Ann. § 23-63-113 Agreement required for access to contracting agent's panel of contracted healthcare providers or contracted reimbursement rates — Identification of network discounts applicable to provider claims required on subscriber identification cards — Definitions
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(a) As used in this section:(1) (A) “Contracting agent” means an entity that while engaged in selling, leasing, assigning, conveying, or otherwise, grants access to the entity's panel of contracted healthcare providers and the entity's contracted reimbursement rates to another en…
Ark. Code Ann. § 23-63-114 Written management and service agreements
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No domestic insurance carrier, health maintenance organization, farmers' mutual aid association, hospital and medical service corporation, stipulated premium insurer, or fraternal benefit society shall enter into a management or service agreement unless the agreement is in writin…
Ark. Code Ann. § 23-63-115 Agreement between insurers and dentists establishing fees for noncovered service prohibited — Definitions
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(a) As used in this section:(1) “Dental plan” means a contract, plan, or policy of insurance issued by an insurer that provides for a dental benefit;(2) “Insurer” means an insurance company, a health maintenance organization, a hospital and medical service corporation, or a self-…
Ark. Code Ann. § 23-63-116 Retaliatory tax credit
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(a) A domestic property and casualty insurer that pays any other state or foreign country a tax, fine, penalty, deposit requirement or other material requirement, or any other fee that is determined by the Insurance Commissioner to be a retaliatory tax is entitled to a reduction …
Ark. Code Ann. § 23-63-1301 Title
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This subchapter shall be known and may be cited as the “Risk-Based Capital Act”.
Ark. Code Ann. § 23-63-1302 Definitions
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(1) As used in this subchapter:(1) “Adjusted RBC report” means a risk-based capital report that has been adjusted by the Insurance Commissioner under § 23-63-1303(e);(2) “Corrective order” means an order issued by the commissioner specifying corrective actions that the commission…
Ark. Code Ann. § 23-63-1303 RBC reports
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(a) Annually on or before March 1, each domestic insurer shall prepare and submit to the Insurance Commissioner a report of its RBC levels as of the end of the previous calendar year in a form and containing the information as needed by the RBC instructions. In addition, each dom…
Ark. Code Ann. § 23-63-1304 Company action level event
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(a) As used in this subchapter, “company action level event” means any of the following events:(1) The filing of an RBC report by an insurer that indicates:(A) The insurer's total adjusted capital is greater than or equal to its regulatory action level RBC but less than its compa…
Ark. Code Ann. § 23-63-1305 Regulatory action level event
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(a) As used in this subchapter, “regulatory action level event” means, with respect to an insurer, any of the following events:(1) The filing of an RBC report by the insurer that shows the insurer's total adjusted capital is more than or equal to its authorized control level RBC …
Ark. Code Ann. § 23-63-1306 Authorized control level event
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(a) As used in this subchapter, “authorized control level event” means any of the following events:(1) The filing of an RBC report by the insurer that shows the insurer's total adjusted capital is more than or equal to its mandatory control level RBC but less than its authorized …
Ark. Code Ann. § 23-63-1307 Mandatory control level event
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(a) As used in this subchapter, “mandatory control level event” means any of the following events:(1) The filing of an RBC report that shows the insurer's total adjusted capital is less than its mandatory control level RBC;(2) Notification by the Insurance Commissioner to the ins…
Ark. Code Ann. § 23-63-1308 Hearings
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(a) (1) If any of the events listed in subsection (b) of this section occurs, the insurer shall have the right to a confidential administrative hearing on record, at which the insurer may challenge any determination or action by the Insurance Commissioner.(2) (A) The insurer shal…
Ark. Code Ann. § 23-63-1309 Confidentiality — Prohibition on announcements — Prohibition on use in ratemaking
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(a) The RBC reports, to the extent the information in the RBC reports is not needed to be stated in a publicly available annual statement schedule, and RBC plans, including the results or report of an examination or analysis of an insurer performed under a corrective order issued…
Ark. Code Ann. § 23-63-1310 Supplemental provisions — Rules — Exemption
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(a) This subchapter is supplemental to other laws of this state and does not preclude or limit other powers or duties of the Insurance Commissioner under those laws, including without limitation § 23-68-101 et seq. (b) The commissioner may adopt reasonable rules necessary for the…
Ark. Code Ann. § 23-63-1311 Foreign insurers
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(a) Upon the written request of the Insurance Commissioner, a foreign insurer shall submit to the commissioner an RBC report as of the end of the calendar year just ended the later of:(1) The date an RBC report would be required to be filed by a domestic insurer under this subcha…
Ark. Code Ann. § 23-63-1312 Immunity
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There is no liability by and no cause of action shall arise against the Insurance Commissioner or the State Insurance Department or its employees or agents for action taken by them in the performance of their powers and duties under this subchapter.
Ark. Code Ann. § 23-63-1313 Authority of commissioner to adopt rules
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The Insurance Commissioner may adopt reasonable rules for the implementation and administration of this subchapter.
Ark. Code Ann. § 23-63-1314 Penalties and liabilities
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(a) If the Insurance Commissioner, after a hearing conducted according to § 23-61-301 et seq., finds that an insurer or a person has violated this subchapter, the commissioner may order:(1) For each separate violation, a penalty of one thousand dollars ($1,000) or if the commissi…
Ark. Code Ann. § 23-63-1315 [Repealed.]
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A.C.A. § 23-63-1315Current 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. § 23-63-1316 Notices
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All notices by the Insurance Commissioner to an insurer that may result in regulatory action under this subchapter shall be effective on dispatch if transmitted by certified mail, or in the case of any other transmission shall be effective on the insurer's receipt of the notice.
Ark. Code Ann. § 23-63-1401 Short title
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This subchapter may be cited as the “Disclosure of Material Transactions Act”.
Ark. Code Ann. § 23-63-1402 Report
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(a) Every insurer domiciled in this state shall file a report with the Insurance Commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements unless the acquisitions and dispositions …
Ark. Code Ann. § 23-63-1403 Acquisitions and dispositions of assets
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(a) Materiality. No acquisitions or dispositions of assets need be reported pursuant to § 23-63-1402 if the acquisitions or dispositions are not material. For purposes of this subchapter, a material acquisition or the aggregate of any series of related acquisitions during any thi…
Ark. Code Ann. § 23-63-1404 Nonrenewals, cancellations, or revisions of ceded reinsurance agreements
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(a) Materiality and Scope. (1) No nonrenewals, cancellations, or revisions of ceded reinsurance agreements need be reported pursuant to § 23-63-1402 if the nonrenewals, cancellations, or revisions are not material. For purposes of this subchapter, a material nonrenewal, cancellat…
Ark. Code Ann. § 23-63-1405 Rules
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The Insurance Commissioner may adopt reasonable rules for the implementation and administration of the provisions of this subchapter.
Ark. Code Ann. § 23-63-1406 Penalties and liabilities
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(a) If the Insurance Commissioner finds after a hearing conducted in accordance with § 23-61-301 et seq. that any insurer or person has violated any provision of this subchapter, the commissioner may order:(1) For each separate violation, a penalty in an amount of one thousand do…
Ark. Code Ann. § 23-63-1501 Definitions
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(1) As used in this subchapter:(1) “Adjusted RBC report” means an RBC report that has been adjusted by the Insurance Commissioner in accordance with § 23-63-1502(d);(2) “Corrective order” means an order issued by the commissioner specifying corrective actions that the commissione…