Title 23 — Public Utilities and Regulated Industries

(a) All policy forms and certificates of insurance to be delivered or issued for delivery in this state and the schedules of premium rates pertaining thereto shall be filed with the Insurance Commissioner. (b) The commissioner shall within thirty (30) days after the filing of the…

(a) Within sixty (60) calendar days after the termination of creditor-placed insurance coverage and in accordance with the formulas approved by the Insurance Commissioner, an insurer shall refund any unearned premium or other identifiable charges. (b) (1) Within sixty (60) calend…

(a) In the event of a loss under the creditor-placed insurance policy, the insurer shall pay, at a minimum, the least of the following, the value of which shall be determined as of the date of loss:(1) The cost to repair the collateral less any applicable deductible;(2) The actua…

(a) In order for the creditor to place insurance on the collateral pledged by the debtor and pass the cost of the insurance on to the debtor:(1) The creditor must have a security interest in the personal property;(2) The credit agreement must require the debtor to maintain insura…

(a) (1) The entire amount of the premium due from a creditor shall be remitted to the insurer or its producer in accordance with the insurer's requirements.(2) No commissions may be paid to, or retained by, a person or entity not licensed and appointed in accordance with the Prod…

(a) A creditor shall not impose charges, including premium costs and related interest and finance charges, on a debtor for creditor-placed insurance coverage unless adequate disclosure of the requirement to maintain insurance has been made to the debtor. Adequate disclosure is ac…

After notice and hearing, the Insurance Commissioner may promulgate reasonable rules to carry out and effectuate the provisions of this chapter.

This chapter shall be known and may be cited as the “Arkansas Earthquake Authority Act”.

(a) The threat of or the actual occurrence of a major earthquake poses serious consequences for the State of Arkansas and its citizens. Of particular concern is the magnitude of damage to residential homeowner and farmowner dwellings and whether or not these structures are adequa…

(1) As used in this chapter:(1) “Authority” means the Arkansas Earthquake Authority;(2) “Board” means the Board of the Arkansas Earthquake Authority;(3) “Commissioner” means the Insurance Commissioner;(4) “Event” means an earthquake and all subsequent earthquakes occurring within…

(a) There is created a nonprofit legal entity to be known as the “Arkansas Earthquake Authority”. The authority shall operate subject to the supervision and control of the Board of the Arkansas Earthquake Authority. The authority is created as a political subdivision, instrumenta…

(a) The Arkansas Earthquake Authority shall operate subject to the supervision and control of the Board of the Arkansas Earthquake Authority. There shall be a board of seven (7) members to be appointed by the Insurance Commissioner, which shall meet at least annually to review an…

There is no liability on the part of and no cause of action of any nature may arise against any participating insurer, the Arkansas Earthquake Authority's agents or employees, the Board of the Arkansas Earthquake Authority, or the Insurance Commissioner or his or her representati…

(a) (1) The Board of the Arkansas Earthquake Authority shall adopt a plan of operation pursuant to this chapter and shall submit to the Insurance Commissioner for approval the plan of operation, including the Arkansas Earthquake Authority's bylaws and operating rules and any amen…

(a) The Board of the Arkansas Earthquake Authority shall have the general powers and authority granted under the laws of the State of Arkansas and in addition thereto, the specific authority to:(1) Enter into contracts as are necessary or proper to carry out the provisions and pu…

(a) The Board of the Arkansas Earthquake Authority shall develop and implement a Market Assistance Program to assist insureds in procuring residential earthquake coverage in the voluntary market. This shall be accomplished by providing those seeking residential earthquake coverag…

(a) As long as the Market Assistance Program has at least one (1) approved insurer, no residential earthquake coverage shall be issued by the Arkansas Earthquake Authority, except as provided in subsection (b) of this section. (b) If there are no approved insurers in the program …

(a) The Board of the Arkansas Earthquake Authority may either appoint an Executive Director of the Arkansas Earthquake Authority or may select a Plan Administrator of the Arkansas Earthquake Authority. If an executive director is chosen, he or she shall hire all staff necessary t…

(a) Rates. (1) The Arkansas Earthquake Authority shall establish rates for plan coverage. These rates and rating schedules may be adjusted for appropriate factors such as geographical variation in claim costs, retrofitting, and other mitigation efforts and shall take into conside…

(a) The Arkansas Earthquake Authority shall offer a residential earthquake policy with dwelling coverage in amounts up to one hundred thousand dollars ($100,000). (b) Coverage for personal property and additional living expenses shall be provided as determined by the Board of the…

(a) Existing Policyholders. (1) (A) Insurers writing homeowner, farmowner, fire and allied lines, excluding commercial policies and crop hail, shall notify policyholders who do not maintain residential earthquake insurance or who maintain residential earthquake insurance at amoun…

Any applicant for a policy, any persons insured under the Market Assistance Program or the Arkansas Earthquake Authority, and any agency or insurer affected by the program or authority may appeal to the Insurance Commissioner any ruling or decision of the Board of the Arkansas Ea…

The Insurance Commissioner is authorized to promulgate such reasonable rules as are necessary to carry out the provisions of this chapter.

In the event a federal or multistate catastrophic insurance or reinsurance program intended to serve purposes similar to the purposes of the Market Assistance Program or the Arkansas Earthquake Authority is created, the Board of the Arkansas Earthquake Authority shall promptly ta…

Notwithstanding any other provision of law to the contrary, neither the Arkansas Earthquake Authority nor its policyholders shall be subject to the provisions of or be eligible for the benefits provided by the Arkansas Property and Casualty Insurance Guaranty Act, § 23-90-101 et …

Upon termination of the Arkansas Earthquake Authority by the General Assembly or the Insurance Commissioner, its remaining funds shall be transferred to the State Insurance Department Trust Fund unless otherwise directed by the General Assembly.

This subchapter shall be known and may be cited as the “Arkansas Title Insurance Act”.

(1) As used in this subchapter:(1) “Closing” means the collection and disbursement of funds and title insurance premiums out of escrow in connection with a transaction involving either personal or real property, including the transfer of title or creation of a lien on the title;(…

(a) (1) Except as provided in subdivision (a)(2) of this section and § 23-103-404, only an appointed title insurance agency licensed under § 23-64-101 et seq. shall issue title insurance policies, reports, or otherwise transact title insurance business.(2) An appointed title insu…

(a) Subject to the exceptions and restrictions contained in this subchapter, a title insurer may:(1) Transact only title insurance business;(2) Reinsure title insurance policies; and(3) Unless prohibited by the Insurance Commissioner, perform or cause to be performed ancillary ac…

(a) (1) An insurer that transacts any class, type, or kind of insurance other than title insurance is not eligible for the issuance or renewal of a license to transact title insurance business in this state.(2) Title insurance shall not be transacted, underwritten, or issued by a…

The Insurance Commissioner or title insurer during normal business hours may examine, audit, and inspect any and all books, records, files, and escrow and operating accounts related to title insurance reports and policies maintained by a title insurance agency, its successor in i…

(a) (1) A person acting in the capacity of a title insurance agency shall not place business with a title insurer, and a title insurer shall not accept business from a title insurance agency unless a written contract exists between the title insurer and title insurance agency.(2)…

(a) A title insurance report or title insurance policy shall not be issued unless the title insurance agency or title insurance agent has caused to be made a search of the title from the evidence prepared from a title plant or files of the county where the property is located or …

(1) A title insurance agent shall not:(1) Bind reinsurance on behalf of the title insurer;(2) Permit any of its directors, officers, controlling shareholders, or employees to serve on the title insurer's board of directors if the title insurance agent wrote five percent (5%) or m…

(a) The title insurer and the title insurance agency shall each maintain an inventory of all numbered policy forms or policy numbers assigned to the title insurance agency by the title insurer. (b) If title insurance policies are generated electronically by the title insurer, the…

(a) (1) At least one (1) time each year, a title insurer shall conduct an on-site audit of the escrow and closing practices related to the issuance of title insurance policies, escrow accounts, security arrangements, files, underwriting and claims practices, and policy inventory …

(1) A title insurer shall not:(1) Appoint any director, officer, controlling shareholder, or employee of a title insurance agency to serve on the title insurer's board of directors if the title insurance agency wrote five percent (5%) or more of the direct premiums of the title i…

(a) (1) When a title insurance report includes an offer to issue an owner's title insurance policy covering the resale of owner-occupied residential property, the title insurance report shall be furnished to the purchaser or mortgagor or to the representative of the purchaser-mor…

(a) The title insurer and the title insurance agency shall maintain sufficient records of their affairs, including evidence of underwriting title, determination of insurability, and records of their escrow operations and escrow accounts. (b) The Insurance Commissioner may prescri…

The Insurance Commissioner shall issue rules in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., to implement this subchapter.

(a) If the Insurance Commissioner determines that a title insurer, title insurance agency, title insurance agent, or any other person has violated this subchapter or any rule or order promulgated under this subchapter, the commissioner may order:(1) (A) Payment of a monetary pena…

(a) A title insurance agent, a title insurance agency, and a person affiliated with a title insurance agency shall:(1) Have free access to the instruments of record affecting real property filed in any city, county, or state office; and(2) Be permitted to:(A) Occupy reasonable sp…

This chapter shall be referred to and may be cited as the “Arkansas Horse Racing Law”.

Section 5-66-116 and all other acts and parts of acts inconsistent with any of the provisions of this chapter are expressly declared not to apply to any person, partnership, group, association, trust, or corporation engaged or participating in racing, or making or contributing to…

Nothing contained in this chapter shall in any way be construed to apply to any other method or manner of racing except the racing of horses as provided in this chapter.

(a) All permits or license fees, excise or privilege taxes, penalties, fines, costs, and other amounts received by the Arkansas Racing Commission under the provisions of this chapter shall be general revenues and shall be deposited into the State Treasury to the credit of the Sta…

(a) The Secretary of the Department of Finance and Administration shall set a maximum number of racing passes to be printed and issued annually, and it shall not be less than the number printed in 1990. (b) (1) Racing passes provided to and accepted by members of the General Asse…

(a) As used in this section:(1) “Casino licensee” means any individual, corporation, partnership, association, trust, or other entity holding a license issued by the Arkansas Racing Commission to conduct casino gaming at a casino; and(2) “Franchise holder” means any individual, c…

(a) A commission consisting of seven (7) members, to be known as the “Arkansas Racing Commission”, is created and established. (b) The members of the commission shall be appointed by the Governor for terms of five (5) years. The term of office shall commence on January 15 and sha…