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23-68-121. Disposition of moneys collected.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-68-121. Disposition of moneys collected.
(a) The moneys collected by the Insurance Commissioner in a proceeding under this chapter shall be from time to time deposited in one (1) or more state or national banks, savings banks, or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state.
(b) The commissioner may in his or her discretion deposit such moneys or any part thereof in a national bank or trust company as a trust fund.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-68-121
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:23-68-121
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2d9241aaa366d7a940dcb3ed2ad95cbe614be2992a29587bb3ed40e965b76e95
Source location: content.xml paragraph 40020
Stored source content
23-68-121. Disposition of moneys collected.
(a) The moneys collected by the Insurance Commissioner in a proceeding under this chapter shall be from time to time deposited in one (1) or more state or national banks, savings banks, or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state.
(b) The commissioner may in his or her discretion deposit such moneys or any part thereof in a national bank or trust company as a trust fund.
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