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23-66-406. Deceptive practices.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-66-406. Deceptive practices.
The following activities, if committed intentionally, shall be deceptive acts under the Trade Practices Act, § 23-66-201 et seq., for companies or agents engaged in the home service system of distribution:
(1) The commission of a blind as defined by § 23-66-402;
(2) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium to future coverage for a policy owner;
(3) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium for a different policy owner;
(4) The use or transfer of any excess or unused funds remaining in the account of the premium payor or policy owner to procure or revive an insurance policy for a policy owner without the knowledge or authorization of the payor; and
(5) The collection of a premium by an agent who retains the premium for his or her own personal use.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-406
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:23-66-406
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 898e52c7d6087adeb102f0ba5086ba88c2b1a177445a352af9e7d7c178f05aa0
Source location: content.xml paragraph 38244
Stored source content
23-66-406. Deceptive practices.
The following activities, if committed intentionally, shall be deceptive acts under the Trade Practices Act, § 23-66-201 et seq., for companies or agents engaged in the home service system of distribution:
(1) The commission of a blind as defined by § 23-66-402;
(2) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium to future coverage for a policy owner;
(3) The collection of a premium which is not due from a premium payor or policy owner, and, without the knowledge of the premium payor or policy owner, the crediting of that premium for a different policy owner;
(4) The use or transfer of any excess or unused funds remaining in the account of the premium payor or policy owner to procure or revive an insurance policy for a policy owner without the knowledge or authorization of the payor; and
(5) The collection of a premium by an agent who retains the premium for his or her own personal use.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-66-201. Title.
This subchapter may be referred to as the “Trade Practices Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-201
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 23-66-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-66-402. Definitions.
As used in this subchapter:
(1) A “blind” is the collection of a premium from a policy owner or premium payor who is intentionally not made aware of the correct paid-to status of the policy for which the premium is to be applied because a premium intentionally was not properly recorded pursuant to § 23-66-405(1);
(2) “Commissioner” means the Insurance Commissioner of this state;
(3) “Customarily collected” means that in his or her ordinary course of business, the agent collects premiums for the policy on site at a payor's home or business;
(4)(A) “Customarily marketed, issued, or delivered” means that in his or her ordinary course of business, the agent markets, issues, or delivers the policy on site at a payor's home or business.
(B) “Customarily marketed, issued, or delivered” does not include any solicitation or sale made at the home or workplace of a person, if it will not thereafter be the ordinary course of business of the agent to either collect premiums from the person on site at his or her home or workplace, or regularly service the premium payor or policyowner on site at his or her home or workplace; and
(5) “Home service system of distribution” is a manner of selling insurance policies which are customarily marketed, issued, or delivered by an agent in person at a payor's home or business, or is a manner of collecting premiums in which premiums are customarily collected in person at a payor's home or business by an agent. This shall not include the sale of commercial policies, crop or hail policies, or term policies covering crops whether harvested or unharvested, or policies covering grain, hay, chemicals, or fertilizer.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-402
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 23-66-402. This identifies an authority to review, not proof of applicability.