Title 23 — Public Utilities and Regulated Industries
95 chapters · 4,024 sections in this title.
Ark. Code Ann. § 23-63-604 Liabilities — In general
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In any determination of the financial condition of a reporting entity, liabilities shall include definitions and amounts specified in the National Association of Insurance Commissioners' publication as it existed on January 1, 2001, entitled the “Accounting Practices and Procedur…
Ark. Code Ann. § 23-63-610 Assets — Conflict of treatment between this subchapter and § 23-63-801 et seq
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In the event of a conflict as to treatment of assets between this subchapter and § 23-63-801 et seq., this subchapter shall govern.
Ark. Code Ann. § 23-63-611 Asset valuation
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(1) Assets of reporting entities shall be valued in accordance with the following:(1) Bonds and securities shall be valued in accordance with the methods specified in the National Association of Insurance Commissioners' publication as it existed on January 1, 2001, entitled the “…
Ark. Code Ann. § 23-63-612 Purpose — Compliance date
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(a) It is the intention of this act to allow the Insurance Commissioner to adopt rules to modernize and harmonize the financial accounting laws of this state governing assets and liabilities of domestic reporting entities as defined. This act requires domestic health maintenance …
Ark. Code Ann. § 23-63-613 Use of new and revised manuals — Rulemaking authority
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(a) (1) The Insurance Commissioner is authorized to employ the standards and requirements set forth in publications recited in this subchapter and adopted and published by the National Association of Insurance Commissioners, including, but not limited to, those listed in this sub…
Ark. Code Ann. § 23-63-614 Domestic title insurance and aviation title insurance reserves
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(a) In addition to an adequate reserve as to outstanding losses, a domestic title insurer shall maintain its own guaranty fund or unearned premium reserve of no less than ten percent (10%) of the total amount of the risk premium written in the calendar year for title insurance co…
Ark. Code Ann. § 23-63-701 Limit of risk
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(a) No insurer shall retain any risk on any one (1) subject of insurance, whether located or to be performed in this state or elsewhere, in an amount exceeding ten percent (10%) of its surplus to policyholders. Provided, with the prior approval of the Insurance Commissioner, such…
Ark. Code Ann. § 23-63-801 Applicability
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Except as to § 23-63-835, the provisions of this subchapter shall apply to domestic insurers only.
Ark. Code Ann. § 23-63-802 Eligible investments
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(a) Insurers shall invest in, or lend their funds on the security of, and shall hold as invested assets only eligible investments as prescribed in this subchapter. (b) Any particular investment held by an insurer on January 1, 1960, and which was a legal investment at the time it…
Ark. Code Ann. § 23-63-803 General qualifications
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(a) Without prior written approval of the Insurance Commissioner, no security or investment, other than real and personal property acquired under § 23-63-828, concerning real estate, shall be eligible for acquisition unless it is interest-bearing, with the accrued interest being …
Ark. Code Ann. § 23-63-804 Authorization of investment
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(a) An insurer shall not make any investment or loan, other than policy loans or annuity contract loans of a life insurer, unless the insurer is authorized or approved by the insurer's board of directors or by a committee authorized by the board and charged with the supervision o…
Ark. Code Ann. § 23-63-805 Diversification of investments — Definitions
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(1) One Person. An insurer shall invest in or hold as admitted assets categories of investments only within applicable limits as follows:(1) One Person. (A) (i) (a) Except with the consent of the Insurance Commissioner and except as otherwise specified in this subchapter, an insu…
Ark. Code Ann. § 23-63-806 United States Government obligations
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An insurer may invest in bonds, notes, warrants, and other evidences of indebtedness which are direct obligations of the United States or for which the full faith and credit of the United States is pledged for the payment of principal and interest.
Ark. Code Ann. § 23-63-807 Loans guaranteed by United States
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An insurer may invest in loans guaranteed as to principal and interest by the United States, or by any agency or instrumentality of the United States, to the extent of the guaranty.
Ark. Code Ann. § 23-63-808 Investments in public obligations
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(a) An insurer may invest in bonds or other evidences of indebtedness which are general obligations of, or are secured by pledge of specific revenue by, this state or any other state of the United States, or any of the counties or incorporated cities or towns, or duly organized s…
Ark. Code Ann. § 23-63-809 Municipal or county utilities
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An insurer may invest in bonds, notes, or evidences of indebtedness of any municipal or county utility within the United States or Canada, which are payable from revenues or earnings specifically pledged for the payment of the principal and interest on the obligations, and for th…
Ark. Code Ann. § 23-63-810 Improvement district obligations
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(a) An insurer may invest in bonds, notes, or evidences of indebtedness issued by any local improvement district in this or any other state to finance local improvements authorized by law if the principal and interest of the obligations is payable from assessments on real propert…
Ark. Code Ann. § 23-63-811 Local industrial development bonds
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An insurer may invest in the negotiable first-lien bonds issued by local industrial development corporations organized under the Arkansas Industrial Development Act, § 15-4-101 et seq.
Ark. Code Ann. § 23-63-812 Obligations or stock of certain federal agencies
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(1) An insurer may invest in the obligations, or stock where stated, of the following agencies of the United States Government, whether or not the obligations are guaranteed by the United States Government:(1) Commodity credit corporation;(2) Notes, bonds, debentures, or other si…
Ark. Code Ann. § 23-63-813 International banks
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Any insurer may invest in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, or the African Development Bank.
Ark. Code Ann. § 23-63-814 Corporate bonds and debentures
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(a) An insurer may invest in bonds, debentures, notes, and other evidences of indebtedness issued, assumed, or guaranteed by any solvent institution existing under the laws of the United States or of Canada, or any state or province thereof, which are not in default as to princip…
Ark. Code Ann. § 23-63-815 Preferred or guaranteed stock
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(a) An insurer may invest in preferred or guaranteed stocks or shares of any solvent institution existing under the laws of the United States or of Canada, or of any state or province thereof, if at the date of the acquisition of the investment by the insurer:(1) The net earnings…
Ark. Code Ann. § 23-63-816 Common stocks
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An insurer may invest in nonassessable, except for taxes and wages, common stocks other than insurance stocks of solvent United States or Canadian corporations that qualify as a sound investment.
Ark. Code Ann. § 23-63-817 Insurance stocks
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(a) An insurer may invest in the stocks of other solvent insurers formed under the laws of this or another state if the stocks meet the applicable requirements of § 23-63-815 as to preferred or guaranteed stock or § 23-63-816 as to common stock, and, with the advance consent of t…
Ark. Code Ann. § 23-63-818 Stocks of subsidiaries
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(a) With the Insurance Commissioner's written approval, a domestic insurer may invest in the stock of its wholly owned subsidiary insurance corporation or in the stock of its wholly owned subsidiary business corporation formed or acquired for and necessary and incidental to:(1) T…
Ark. Code Ann. § 23-63-819 Equipment trust certificates
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An insurer may invest in equipment trust obligations or certificates adequately secured and evidencing an interest in transportation equipment, wholly or in part within the United States, which obligations or certificates carry the right to receive determined portions of rental, …
Ark. Code Ann. § 23-63-820 Investment trust securities
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An insurer may invest in the securities of any management-type investment company or investment trust registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as from time to time amended, if the investment company or trust has been organiz…
Ark. Code Ann. § 23-63-821 Policy loans
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(a) A life insurer may lend to its policyholder upon pledge of the policy as collateral security any sum not exceeding the cash surrender value of the policy or may lend against pledge or assignment of any of its supplementary contracts or its other contracts or obligations, so l…
Ark. Code Ann. § 23-63-822 Collateral loans
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(a) An insurer may lend and invest its funds upon the pledge of securities eligible for investment under this subchapter. (b) As at date made, no loan shall exceed in amount ninety percent (90%) of the market value of such collateral pledged. (c) The amount so loaned shall be inc…
Ark. Code Ann. § 23-63-823 Savings and loan associations
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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 …
Ark. Code Ann. § 23-63-824 Foreign securities
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(a) An insurer may acquire investments or engage in investment practices with entities or institutions of or in foreign jurisdictions of substantially the same type that an insurer may acquire under this subchapter for investments in the United States if, as a result of and after…
Ark. Code Ann. § 23-63-825 Additional investment authority
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(a) (1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subsection or elsewhere in the Arkansas Insurance Code, or engage in investment practices, without regard to any aggregate li…
Ark. Code Ann. § 23-63-826 Real estate mortgages — Definition
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(a) (1) An insurer may invest any of its funds in bonds, notes, or other evidences of indebtedness which are secured by first mortgages or deeds of trust upon improved real property located in the United States or which are secured by first mortgages or deeds of trust upon leaseh…
Ark. Code Ann. § 23-63-827 Chattel mortgages
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(a) In connection with a mortgage loan on the security of real estate designed and used primarily for residential purposes only, which mortgage loan was acquired pursuant to § 23-63-826, an insurer may lend or invest an amount not exceeding twenty percent (20%) of the amount loan…
Ark. Code Ann. § 23-63-828 Real estate
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(1) An insurer may invest in real estate only if used for the purposes or acquired in the manner and within the limits as follows:(1) The land and the buildings thereon in which it has its principal office and such other real estate as shall be requisite for its convenient accomm…
Ark. Code Ann. § 23-63-829 Time limit for disposal of real estate
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(a) Except as stated in subsection (c) of this section, the insurer shall dispose of real estate acquired under § 23-63-828(1) within five (5) years after it has ceased to be necessary for the convenient accommodation of the insurer in the transaction of its business. (b) Except …
Ark. Code Ann. § 23-63-830 Time limit for disposal of other ineligible property and securities
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(a) Any personal property or securities lawfully acquired by an insurer which it could not otherwise have invested in or loaned its funds upon at the time of the acquisition shall be disposed of within three (3) years from the date of acquisition, unless within that period the se…
Ark. Code Ann. § 23-63-831 Failure to dispose of real estate, property, or securities
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(a) Any real estate, personal property, or securities lawfully acquired and held by an insurer after expiration of the period for disposal thereof, or any extension of the period granted by the Insurance Commissioner as provided in § 23-63-829 or § 23-63-830, or any investments o…
Ark. Code Ann. § 23-63-832 Special investments by title insurer
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(a) (1) In addition to other investments eligible under this subchapter, a title insurer may invest and have invested an amount not exceeding fifty percent (50%) of its paid-in capital stock in its abstract plant and equipment and, with the Insurance Commissioner's consent, in st…
Ark. Code Ann. § 23-63-833 Prohibited investments
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(1) In addition to investments excluded pursuant to other provisions of the Arkansas Insurance Code, an insurer shall not directly or indirectly invest in or lend its funds upon the security of:(1) Issued shares of its own capital stock, except for the purpose of mutualization un…
Ark. Code Ann. § 23-63-834 Cancellation of treasury stock
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(a) By resolution of its board of directors, any legal reserve life insurance company may cancel at any time all or any part of its treasury shares. (b) (1) In such an event, a statement of cancellation shall be filed as provided in this section.(2) Any statement of cancellation …
Ark. Code Ann. § 23-63-835 Investments of foreign insurers
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(a) The investments of a foreign or alien insurer shall be as permitted by the laws of its domicile but shall be of a quality substantially as high as those required under this subchapter for similar funds of like domestic insurers. (b) For the purposes of this section, the domic…
Ark. Code Ann. § 23-63-836 Certificates of deposit
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An insurer may invest in certificates of deposit or similar depository instruments issued by any bank, bank and trust company, savings bank, national bank association, savings and loan association incorporated under the laws of a state, or federal savings and loan association inc…
Ark. Code Ann. § 23-63-837 Property and facilities for fossil or synthetic fuel production
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(a) An insurer may invest in property and facilities, and any interests and rights in properties and facilities, for the development and production of fossil or synthetic fuel or other minerals, including, but not limited to, investments relating to:(1) The exploration for and de…
Ark. Code Ann. § 23-63-838 [Repealed.]
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A.C.A. § 23-63-838Current 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. § 23-63-839 Negotiable bills of exchange or time drafts
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(1) An insurer may invest in negotiable bills of exchange or time drafts issued and unconditionally guaranteed by any bank, bank and trust company, national bank association, or domestic branch or agency of a foreign bank subject to reserve requirements under section 7 of the Int…
Ark. Code Ann. § 23-63-840 Mortgage-backed securities
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(a) An insurer may invest in mortgage-backed securities, including without limitation collateralized mortgage obligations and other obligations for the payment of money secured by participation certificates or loans secured, directly or indirectly, by real estate mortgages or dee…
Ark. Code Ann. § 23-63-841 Derivative transactions — Definitions
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(a) As used in this section:(1) “Cap” means an agreement obligating the seller to make payments to the buyer with each payment based on the amount by which a reference price or level or the performance or value of one (1) or more underlying interests exceeds a predetermined numbe…
Ark. Code Ann. § 23-63-842 Asset-backed securities — Definitions
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(a) As used in this section:(1) (A) “Asset-backed security” means any security or other instrument representing or evidencing an interest in, a loan to, a participation in a loan to, or any other right to receive payments from a borrower included in a pool of obligations held by …
Ark. Code Ann. § 23-63-901 Authorized deposits of insurers
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(1) The following deposits of insurers when made through the Insurance Commissioner shall be accepted and held, and shall be subject to the provisions of this subchapter:(1) Deposits required under the Arkansas Insurance Code for authority to transact insurance in this state;(2) …