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23-63-1104. Applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-1104. Applicability.
(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(b) All provisions of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq., to the extent they are not superseded by the provisions of this subchapter, shall continue to apply to all parties within holding company systems subject to the provisions of this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-1104
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-63-1104
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5564f5d6f7e580d0f64e402ce592837d465a36934e8ab1ed378fba56c36d380b
Source location: content.xml paragraph 33067
Stored source content
23-63-1104. Applicability.
(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(b) All provisions of the Insurance Holding Company Regulatory Act, § 23-63-501 et seq., to the extent they are not superseded by the provisions of this subchapter, shall continue to apply to all parties within holding company systems subject to the provisions of this subchapter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-1102. Definitions.
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 Commissioners;
(2) “Control” or “controlled” has the meaning set out in § 23-63-503(2);
(3) “Controlled insurer” means a licensed insurer which is controlled, directly or indirectly, by a producer;
(4) “Controlling producer” means a producer who, directly or indirectly, controls an insurer;
(5)(A) “Licensed insurer” or “insurer” means any person, firm, association, or corporation duly licensed to transact a property and casualty insurance business in this state.
(B) The following, among other things, are not licensed insurers for the purposes of this subchapter:
(i) All risk retention groups as defined in the Superfund Amendments Reauthorization Act of 1986, the Product Liability Risk Retention Act of 1981, and §§ 23-94-101 — 23-94-108 [repealed], 23-94-201 — 23-94-209 [revised], and 23-94-301 — 23-94-303 [repealed];
(ii) All residual market pools and joint underwriting authorities or associations; and
(iii) All captive insurers, that is, insurance companies owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, insurance organizations owned by the insureds whose exclusive purpose is to insure risks of member organizations and group members and their affiliates; and
(6) “Producer” means an insurance broker or brokers or any other person, firm, association, or corporation, when, for any compensation, commission, or other thing of value, such a
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-1102
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-63-1102. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-501. Title.
This subchapter may be cited as the “Insurance Holding Company Regulatory Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-501
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-63-501. This identifies an authority to review, not proof of applicability.