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23-63-832. Special investments by title insurer.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-832. Special investments by title insurer.
(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 stocks of abstract companies.
(2) If the insurer transacts kinds of insurance in addition to title insurance, for the purposes of this section, its paid-in capital stock shall be prorated between title insurance and other insurances upon the basis of the reserves maintained by the insurer for the various kinds of insurance. However, the capital so assigned to title insurance shall in no event be less than one hundred thousand dollars ($100,000).
(b) Investments authorized by this section shall not be credited against the insurer's required unearned premium or guaranty fund reserve provided under § 23-63-614.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-832
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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Record provenance
Stable record: arkansas_code:legal_authorities:23-63-832
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f3002749ab07806f40a13648db80e3482f8195432fbda54481471a09dfb14007
Source location: content.xml paragraph 32671
Stored source content
23-63-832. Special investments by title insurer.
(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 stocks of abstract companies.
(2) If the insurer transacts kinds of insurance in addition to title insurance, for the purposes of this section, its paid-in capital stock shall be prorated between title insurance and other insurances upon the basis of the reserves maintained by the insurer for the various kinds of insurance. However, the capital so assigned to title insurance shall in no event be less than one hundred thousand dollars ($100,000).
(b) Investments authorized by this section shall not be credited against the insurer's required unearned premium or guaranty fund reserve provided under § 23-63-614.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-614. Domestic title insurance and aviation title insurance reserves.
(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 contracts, which shall be assigned originally to the reserve.
(b)(1) During each of the twenty (20) years after the year in which a title insurance contract was issued, the reserve applicable to the contract may be reduced by five percent (5%) of the original amount of the reserve.
(2) This section does not apply to foreign or alien title or aviation title insurers licensed in this state.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-614
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 23-63-614. This identifies an authority to review, not proof of applicability.