Browse Arkansas Code titles and sections

23-66-308. Rebates, discounts, abatements, etc.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-66-308. Rebates, discounts, abatements, etc.

23-66-308. Rebates, discounts, abatements, etc. (a) No property, casualty, or surety insurer or any employee thereof and no broker, agent, or solicitor shall pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, as an inducement to insure or after insurance has been effected, any rebate, discount, abatement, credit, or reduction of the premium named in a policy of insurance, or any special favor or advantage in the dividends or other benefits to accrue thereon, or any valuable consideration or inducement whatever not specified in the policy except to the extent provided for in an applicable filing with the Insurance Commissioner as provided by law. (b) No insured named in a policy, nor any employee of the insured, shall knowingly receive or accept, directly or indirectly, any such rebate, discount, abatement, credit, or reduction of premium, or any special favor or advantage or valuable consideration or inducement. (c) This section shall not be construed as prohibiting: (1) The payment of commissions or other compensation to licensed agents, brokers, or solicitors; (2) An insurer from allowing or returning to its participating policyholders, members, or subscribers any dividends, savings, or unabsorbed premium deposits; or (3) A licensed insurance consultant who is also a licensed producer from adjusting or refunding to his or her clients any part of a consulting fee under a prior written agreement with a client paying total annual premiums, for all lines of business, of one hundred thousand dollars ($100,000) or more based on commissions received by the consultant from insurers. (d) This section does not include within the definition of rebates or otherwise prohibit the practice of engaging in an arrangement that would not violate

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-308

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.

Issuing source page ↗

Authority boundary: historical statutory source snapshot not current law.

Open the recorded source website ↗

Record provenance

Stable record: arkansas_code:legal_authorities:23-66-308
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c8c7e22ff86df456c86c8c2acdf0ec943f6410611b44d85c417f9289ca2a7850

Source location: content.xml paragraph 37949

Stored source content

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1461 — Short title

This chapter may be cited as the “Home Owners’ Loan Act.”

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1461

Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1461. This identifies an authority to review, not proof of applicability.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1461 — Short title

Page 355 TITLE 12—BANKS AND BANKING § 1462 (Pub. L. 91–351, title III, § 309, July 24, 1970, 84 Stat. 457.) § 1459. Separability Notwithstanding any other evidences of the intention of Congress, it is hereby declared to be the controlling intent of Congress that if any provision of this chapter, or the application thereof to any person or circumstances, is held invalid, the remainder of this chapter, or the ap- plication of such provision to persons or cir- cumstances other than those as to which it is held invalid, shall not be affected thereby. (Pub. L. 91–351, title III, § 310, July 24, 1970, 84 Stat. 457; Pub. L. 101–73, title VII, § 731(l), Aug. 9, 1989, 103 Stat. 435.) Editorial Notes AMENDMENTS 1989—Pub. L. 101–73 amended section catchline and struck out first sentence which read as follows: ‘‘Ex- cept as otherwise provided in this chapter, or as other- wise provided by the Corporation or by laws hereafter enacted by the Congress expressly in limitation of pro- visions of this chapter, the powers and functions of the Corporation and of the Board of Directors shall be exer- cisable, and the provisions of this chapter shall be ap- plicable and effective, without regard to any other law.’’ CHAPTER 12—SAVINGS ASSOCIATIONS Sec. 1461. Short title. 1462. Definitions. 1462a. Administrative provisions. 1463. Supervision of savings associations. 1464. Federal savings associations. 1464a. Election to operate as a covered savings asso- ciation. 1465. State law preemption standards for Federal savings associations clarified. 1466. Applicability. 1466a. District associations. 1467. Examination fees. 1467a. Regulation of holding companies. 1467b. Intermediate holding companies. 1468. Transactions with affiliates; extensions of cred

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1461

Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1461. This identifies an authority to review, not proof of applicability.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1972 — Certain tying arrangements prohibited; correspondent accounts

(1) A bank shall not in any manner extend credit, lease or sell property of any kind, or furnish any service, or fix or vary the consideration for any of the foregoing, on the condition or requirement— (A) that the customer shall obtain some additional credit, property, or service from such bank other than a loan, discount, deposit, or trust service; (B) that the customer shall obtain some additional credit, property, or service from a bank holding company of such bank, or from any other subsidiary of such bank holding company; (C) that the customer provide some additional credit, property, or service to such bank, other than those related to and usually provided in connection with a loan, discount, deposit, or trust service; (D) that the customer provide some additional credit, property, or service to a bank holding company of such bank, or to any other subsidiary of such bank holding company; or (E) that the customer shall not obtain some other credit, property, or service from a competitor of such bank, a bank holding company of such bank, or any subsidiary of such bank holding company, other than a condition or requirement that such bank shall reasonably impose in a credit transaction to assure the soundness of the credit. The Board may issue such regulations as are necessary to carry out this section, and, in consultation with the Comptroller of the Currency and the Federal Deposit Insurance Company, may by regulation or order permit such exceptions to the foregoing prohibition and the prohibitions of section 1843(f)(9) and 1843(h)(2) of this title as it considers will not be contrary to the purposes of this chapter. (2) (A) No bank which maintains a correspondent account in the name of another bank shall make an extension of credit to an execu

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1972

Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1972. This identifies an authority to review, not proof of applicability.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1972 — Certain tying arrangements prohibited;

Page 1277 TITLE 12—BANKS AND BANKING § 1972 Editorial Notes AMENDMENTS 1999—Pub. L. 106–102 inserted at end ‘‘For purposes of this chapter, a financial subsidiary of a national bank engaging in activities pursuant to section 24a(a) of this title shall be deemed to be a subsidiary of a bank hold- ing company, and not a subsidiary of a bank.’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1999 AMENDMENT Amendment by Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title. § 1972. Certain tying arrangements prohibited; correspondent accounts (1) A bank shall not in any manner extend credit, lease or sell property of any kind, or fur- nish any service, or fix or vary the consideration for any of the foregoing, on the condition or re- quirement— (A) that the customer shall obtain some ad- ditional credit, property, or service from such bank other than a loan, discount, deposit, or trust service; (B) that the customer shall obtain some ad- ditional credit, property, or service from a bank holding company of such bank, or from any other subsidiary of such bank holding company; (C) that the customer provide some addi- tional credit, property, or service to such bank, other than those related to and usually provided in connection with a loan, discount, deposit, or trust service; (D) that the customer provide some addi- tional credit, property, or service to a bank holding company of such bank, or to any other subsidiary of such bank holding company; or (E) that the customer shall not obtain some other credit, property, or service from a com- petitor of such bank, a bank holding company of such bank, or any subsidiary of such bank holding company, other

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1972

Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1972. This identifies an authority to review, not proof of applicability.