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23-63-211. Certificate of authority — Continuance, expiration, amendment, or surrender.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-211. Certificate of authority — Continuance, expiration, amendment, or surrender.
(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 of the certificate by the insurer each year by:
(1) Payment prior to April 15 of the continuation fee provided in § 23-61-401;
(2) Due filing by the insurer of its annual statement for the calendar year preceding as required under § 23-63-216; and
(3) Payment by the insurer of applicable taxes, fees, and assessments, as well as timely filing of supporting annual and quarterly statements and other required filings with respect to the preceding calendar year, as required under the Arkansas Insurance Code.
(b)(1) If not so continued by the insurer, its certificate of authority shall expire as of midnight on the April 30 next following the failure of the insurer so to continue it in force.
(2) If for any reason the insurer is not entitled to continuation of its certificate of authority, the Insurance Commissioner may refuse to continue the certificate, and the certificate of authority shall expire as stated in this subsection.
(3) The commissioner shall promptly notify the insurer of the occurrence of any failure or condition resulting in impending expiration of its certificate of authority.
(c) The commissioner may, in his or her discretion, reinstate a certificate of authority which the insurer has inadvertently permitted to expire, after the insurer has fully cured all its failures which resulted in the expiration, and upon payment by the insurer of the fee for reinstatement in the amount provid
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-211
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:23-63-211
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5744330991e87deab06b464bd11993c7cc77dcde54bb4ed57d863ee76d8e0617
Source location: content.xml paragraph 31202
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23-63-211. Certificate of authority — Continuance, expiration, amendment, or surrender.
(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 of the certificate by the insurer each year by:
(1) Payment prior to April 15 of the continuation fee provided in § 23-61-401;
(2) Due filing by the insurer of its annual statement for the calendar year preceding as required under § 23-63-216; and
(3) Payment by the insurer of applicable taxes, fees, and assessments, as well as timely filing of supporting annual and quarterly statements and other required filings with respect to the preceding calendar year, as required under the Arkansas Insurance Code.
(b)(1) If not so continued by the insurer, its certificate of authority shall expire as of midnight on the April 30 next following the failure of the insurer so to continue it in force.
(2) If for any reason the insurer is not entitled to continuation of its certificate of authority, the Insurance Commissioner may refuse to continue the certificate, and the certificate of authority shall expire as stated in this subsection.
(3) The commissioner shall promptly notify the insurer of the occurrence of any failure or condition resulting in impending expiration of its certificate of authority.
(c) The commissioner may, in his or her discretion, reinstate a certificate of authority which the insurer has inadvertently permitted to expire, after the insurer has fully cured all its failures which resulted in the expiration, and upon payment by the insurer of the fee for reinstatement in the amount provided in § 23-61-401. Otherwise, the insurer shall be granted another certificate of authority only after filing application therefor and meeting all other requirements as for an original certificate of authority in this state.
(d) The commissioner may amend a certificate of authority at any time to accord with changes in the insurer's charter or insuring powers.
(e) Any insurer desiring to surrender its certificate of authority, withdraw from this state, or discontinue the writing of certain classes of insurance in this state shall give ninety (90) days' notice in writing to the State Insurance Department and shall state in writing its reasons for such action. The commissioner may waive any part of the notice requirement.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-61-401. License and miscellaneous fees.
The Insurance Commissioner shall collect annually or biennially as prescribed by rule of the commissioner and pay to the Treasurer of State the following fees, licenses, and miscellaneous charges:
(1) Admission fees: (A) Filing and reviewing all documents necessary for issuance of certificate of incorporation for domestic companies $100.00 (B) Issuance of an original certificate of incorporation for domestic companies 50.00 (C) Reviewing all documents necessary for issuance of original certificate of authority 500.00 (D) Issuance of original certificate of authority for all companies 150.00 (E) Issuance of original license for rate service organiza- tions and employer service assurance organizations 500.00 (F) Filing and reviewing all documents of a nonadmitted company seeking to be placed on the “approved” list for the writing of surplus lines insurance 500.00 (2) Annual renewal fees: (A) Filing an annual statement for all companies 50.00 (B) Renewal of a certificate of authority for all companies 100.00 (C) Rate service organizations and employer service as- surance organizations, annual continuation of license 100.00 (3) Other miscellaneous fees: (A) Amendment to articles of incorporation 25.00 (B) Reinstatement of certificate of authority 50.00 (C) Amending an existing certificate of authority 100.00 (4) Agent's license for resident agents: (A) Property, casualty, surety agents: Original issuance of each license 15.00 Annual continuation of appointment, each insurer 10.00 Appointment of agent by insurer, each insurer 10.00 (B) Life and accident and health insurance agents: Appointment of agent by insurer, each insurer 10.00 Annual continuation of appointment, e
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-401
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 23-61-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-216. Annual statement and other information.
(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 December 31 preceding.
(2) The statement shall be the appropriate and most recent National Association of Insurance Commissioners':
(A) “Annual Statement Blank For Life And Accident And Health”;
(B) “Property And Casualty Annual Statement Blank”;
(C) “Title Insurance Annual Statement Blank”;
(D) “Annual Statement Blank for Health” for use by hospital, medical, and dental service or indemnity corporations;
(E) “Fraternal Annual Statement Blank”;
(F) “Annual Statement Blank for Health” for health insurers or health maintenance organizations and others; or
(G) Other National Association of Insurance Commissioners' convention blank as appropriate.
(3) The statement shall be prepared in accordance with the most recent and appropriate companion National Association of Insurance Commissioners' “Annual and Quarterly Statement Instructions” and follow those accounting practices and procedures prescribed by the most recent and appropriate companion National Association of Insurance Commissioners' Accounting Practices and Procedures Manual.
(4) Arkansas domestic insurers shall file the statement with the commissioner in hard-copy format.
(5) Each authorized insurer shall file an audited financial statement on or before June 1 of each year.
(6) Authorized foreign and alien insurers complying with subsection (b) of this section are deemed to have satisfied the requirement to file the statement with the commissioner.
(7) The commis
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-216
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 23-63-216. This identifies an authority to review, not proof of applicability.