Title 23 — Public Utilities and Regulated Industries
95 chapters · 4,024 sections in this title.
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…
Ark. Code Ann. § 23-63-509 Control of or merger with domestic insurer — Alternative filing materials
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If any offer, request, invitation, agreement, or acquisition referred to in § 23-63-506 is proposed to be made by means of a registration statement under the Securities Act of 1933 or in circumstances requiring the disclosure of similar information under the Securities Exchange A…
Ark. Code Ann. § 23-63-510 Control of or merger with domestic insurer — Approval by commissioner — Hearing
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(a) The Insurance Commissioner shall approve any merger or other acquisition of control referred to in § 23-63-506 unless, after a public hearing on the merger or other acquisition of control, he or she finds that:(1) After change of control, the domestic insurer referred to in §…
Ark. Code Ann. § 23-63-511 Control of or merger with domestic insurer — Mailings
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(a) All statements, amendments, or other materials filed pursuant to § 23-63-506 or § 23-63-508 and all notices of public hearings held pursuant to § 23-63-510 shall be mailed by the insurer to its shareholders within five (5) business days after the insurer has received the stat…
Ark. Code Ann. § 23-63-512 Control of or merger with domestic insurer — Jurisdiction of courts — Service of process
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(a) The courts of this state are vested with jurisdiction over every person not resident, domiciled, or authorized to do business in this state who files a statement with the Insurance Commissioner under §§ 23-63-506 — 23-63-513 and over all actions involving that person arising …
Ark. Code Ann. § 23-63-513 Control of or merger with domestic insurer — Violations
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(1) The following shall be violations of §§ 23-63-506 — 23-63-513:(1) The failure to file any statement, amendment, or other materials required to be filed pursuant to § 23-63-506 or § 23-63-508; or(2) The effectuation or any attempt to effectuate an acquisition of control of, or…
Ark. Code Ann. § 23-63-514 Registration of insurers
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(a) Registration. Every insurer that is authorized to do business in this state and that is a member of an insurance holding company system shall register with the Insurance Commissioner, except:(1) A foreign insurer subject to disclosure requirements and standards adopted by cod…
Ark. Code Ann. § 23-63-515 Standards — Definition
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(a) (1) Material transactions by insurers registered with the Insurance Commissioner under § 23-63-514 with their affiliates shall be subject to the following standards:(A) The terms shall be fair and reasonable;(B) The books, accounts, and records of every party shall be so main…
Ark. Code Ann. § 23-63-516 Examination
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(a) Power of Insurance Commissioner. Subject to the limitation contained in this section and in addition to the powers of the Insurance Commissioner under § 23-61-101 et seq., § 23-61-201 et seq., and § 23-61-301 et seq. to examine insurers, the commissioner may examine an insure…
Ark. Code Ann. § 23-63-517 Confidential treatment
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(a) (1) All information and documents obtained by or disclosed to the Insurance Commissioner or any other person in the course of an examination or investigation made under § 23-63-516 and all information reported under §§ 23-63-514 and 23-63-515 shall be given confidential treat…
Ark. Code Ann. § 23-63-518 Rules
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After compliance with §§ 23-61-108 and 23-61-304 of the Arkansas Insurance Code, the Insurance Commissioner may issue such rules and orders as shall be necessary to carry out the provisions of this subchapter.
Ark. Code Ann. § 23-63-519 Judicial review — Mandamus
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(a) (1) Any person aggrieved by any act, determination, rule, regulation, order, or any other action of the Insurance Commissioner pursuant to this subchapter may appeal therefrom to the Pulaski County Circuit Court.(2) The court shall conduct its review without a jury and by tri…
Ark. Code Ann. § 23-63-520 Voting of securities
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(a) When Prohibited. (1) No security which is the subject of any agreement or arrangement regarding acquisition, or which is acquired or to be acquired, in contravention of the provisions of this subchapter or of any rule or order issued by the Insurance Commissioner pursuant to …
Ark. Code Ann. § 23-63-521 Injunctions
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Whenever it appears to the Insurance Commissioner that any insurer or any director, officer, employee, or agent of an insurer has committed or is about to commit a violation of this subchapter or of any rule or order issued by the commissioner pursuant to it, the commissioner may…
Ark. Code Ann. § 23-63-522 Criminal and civil proceedings
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(a) Whenever it appears to the Insurance Commissioner that any insurer or any director, officer, employee, or agent of the insurer has committed a willful violation of this subchapter, the commissioner may cause criminal proceedings to be instituted in the circuit court for the c…
Ark. Code Ann. § 23-63-523 Receivership
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(a) Whenever it appears to the Insurance Commissioner that any person has committed a violation of this subchapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyhol…
Ark. Code Ann. § 23-63-524 Revocation, suspension, or nonrenewal of insurer's license
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(a) Whenever it appears to the Insurance Commissioner that any person has committed a violation of this subchapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportun…
Ark. Code Ann. § 23-63-525 Acquisitions involving insurers not otherwise covered — Definitions
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(1) The following definitions shall apply for the purposes of §§ 23-63-525 — 23-63-530 only:(1) “Acquisition” means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes, …
Ark. Code Ann. § 23-63-526 Acquisitions involving insurers not otherwise covered — Scope
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(a) Except as exempted in subsection (b) of this section, §§ 23-63-525 — 23-63-528 apply to any acquisition in which there is a change in control of an insurer authorized to do business in this state. (b) Sections 23-63-525 — 23-63-528 shall not apply to the following:(1) An acqu…
Ark. Code Ann. § 23-63-527 Acquisitions involving insurers not otherwise covered — Preacquisition notification, waiting period
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(a) An acquisition covered by § 23-63-526 may be subject to an order pursuant to § 23-63-529 unless the acquiring person files a preacquisition notification and the waiting period has expired. The acquired person may file a preacquisition notification. The Insurance Commissioner …
Ark. Code Ann. § 23-63-528 Acquisitions involving insurers not otherwise covered — Competitive standard — Definition
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(a) The Insurance Commissioner may enter an order under § 23-63-529(a) with respect to an acquisition if there is substantial evidence that the effect of the acquisition may be substantially to lessen competition in any line of insurance in this state or tend to create a monopoly…
Ark. Code Ann. § 23-63-529 Acquisitions involving insurers not otherwise covered — Orders and penalties
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(a) (1) If an acquisition violates the standards of §§ 23-63-525 — 23-63-528, the Insurance Commissioner may enter an order:(A) Requiring an involved insurer to cease and desist from doing business in this state with respect to the line or lines of insurance involved in the viola…
Ark. Code Ann. § 23-63-530 Acquisitions involving insurers not otherwise covered — Inapplicable provisions
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Sections 23-63-520 and 23-63-523 do not apply to acquisitions covered under § 23-63-526.
Ark. Code Ann. § 23-63-531 Supervisory colleges
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(a) (1) The Insurance Commissioner may participate in a supervisory college for a domestic insurer registered under § 23-63-514 that is part of an insurance holding company system with international operations to determine compliance by the insurer with this section.(2) The commi…
Ark. Code Ann. § 23-63-532 Group-wide supervision of internationally active insurance groups
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(a) (1) The Insurance Commissioner may act as a group-wide supervisor for any internationally active insurance group under this section.(2) However, the commissioner may otherwise acknowledge another regulatory official as the group-wide supervisor when the internationally active…
Ark. Code Ann. § 23-63-601 Definition
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(1) In any determination of the financial condition, including whether an asset is allowable, of a domestic insurer, domestic title insurer, or other domestic regulated entities reporting to the Insurance Commissioner, including health maintenance organizations, hospital or medic…
Ark. Code Ann. § 23-63-602 Assets as deductions from liabilities
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Assets may be allowed as deductions from corresponding liabilities, and liabilities may be charged as deductions from assets. Deductions from assets may be charged as liabilities in accordance with the National Association of Insurance Commissioners' publication as it existed on …
Ark. Code Ann. § 23-63-603 Assets not allowed
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Assets not allowed shall be those so referenced or described as nonadmitted in the National Association of Insurance Commissioners' publication as it existed on January 1, 2001, entitled the “Accounting Practices and Procedures Manual”, unless otherwise specified in this subchapt…