Browse Arkansas Code titles and sections
23-72-107. Pro rata or level assessment plans.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-72-107. Pro rata or level assessment plans.
(a) Except as provided in § 23-72-118, a mutual assessment insurer may transact insurance on either the pro rata assessment plan only or on the level or stipulated rate plan only.
(b) Each plan shall be governed by the provisions of this chapter made specifically applicable thereto and by those provisions applicable to both plans.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-72-107
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:23-72-107
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 48c563f855a4fedec5b4d551b0bf6d578aa847ea6bc062b935d4b55f775f87db
Source location: content.xml paragraph 42092
Stored source content
23-72-107. Pro rata or level assessment plans.
(a) Except as provided in § 23-72-118, a mutual assessment insurer may transact insurance on either the pro rata assessment plan only or on the level or stipulated rate plan only.
(b) Each plan shall be governed by the provisions of this chapter made specifically applicable thereto and by those provisions applicable to both plans.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-72-118. Conversion to level premium plan.
(a) A pro rata assessment insurer, by resolution of its board of directors approved by the Insurance Commissioner, may convert the whole or any part of its membership into a level or stipulated rate division. Thereafter, laws applicable to a level or stipulated rate insurer shall apply and govern the insurer or division so converted.
(b) The insurer shall segregate the funds and income of the two (2) classes and not intermingle funds when the insurer is operating on a pro rata assessment basis and with a division on a level or stipulated rate assessment basis.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-72-118
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 23-72-118. This identifies an authority to review, not proof of applicability.