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23-65-316. Penalty for failure to file quarterly statement or remit tax.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-65-316. Penalty for failure to file quarterly statement or remit tax.
(a)(1) If a surplus lines broker fails to file his or her quarterly statement by the due dates in § 23-65-314, he or she shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the due date.
(2) The Insurance Commissioner may grant a reasonable extension of time within which the statement may be filed for good cause shown and after a written request.
(3) The fine may be recovered by an action instituted by the commissioner in any court of competent jurisdiction.
(4) The commissioner shall pay to the Treasurer of State any fine so collected.
(b)(1) If a surplus lines broker fails to remit the tax as provided by law by the due date, the surplus lines broker shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the sixty-first day after the end of the month in which surplus lines insurance was procured.
(2) The commissioner shall pay to the Treasurer of State any fine so collected.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-65-316
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:23-65-316
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 48036c331803f955c20a5a3d2d14d62f51849df07008c242bf5f24479c312702
Source location: content.xml paragraph 37367
Stored source content
23-65-316. Penalty for failure to file quarterly statement or remit tax.
(a)(1) If a surplus lines broker fails to file his or her quarterly statement by the due dates in § 23-65-314, he or she shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the due date.
(2) The Insurance Commissioner may grant a reasonable extension of time within which the statement may be filed for good cause shown and after a written request.
(3) The fine may be recovered by an action instituted by the commissioner in any court of competent jurisdiction.
(4) The commissioner shall pay to the Treasurer of State any fine so collected.
(b)(1) If a surplus lines broker fails to remit the tax as provided by law by the due date, the surplus lines broker shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the sixty-first day after the end of the month in which surplus lines insurance was procured.
(2) The commissioner shall pay to the Treasurer of State any fine so collected.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-65-314. Quarterly statement.
(a) On or before March 1, June 1, September 1, and December 1 of each year, a surplus lines broker shall file with the Insurance Commissioner a statement for the preceding period of the surplus lines insurance transactions of an insured whose home state is the State of Arkansas.
(b) The statement shall be on forms as prescribed and furnished by the commissioner and shall show:
(1) The gross amount of each kind of insurance transacted;
(2) The aggregate gross premiums charged, exclusive of sums collected to cover state or federal taxes;
(3) The aggregate of returned premiums and taxes paid to insureds;
(4) The aggregate of net premiums; and
(5) Additional information as required by the commissioner.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-65-314
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 23-65-314. This identifies an authority to review, not proof of applicability.