23-72-117. Reinsurance.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-72-117. Reinsurance. (a) A mutual assessment insurer may reinsure in any authorized life insurer any single risk or part of any single risk which it may assume. (b) The insurer may reinsure all or substantially all of its insurance in force by reinsurance in bulk as provided for in § 23-72-119.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-72-117

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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Arkansas Code — all titles (historical 2020) · legal_authorities

23-72-119. Merger or bulk reinsurance or conversion.

23-72-119. Merger or bulk reinsurance or conversion. (a)(1) Any mutual assessment domestic insurer may merge or reinsure its outstanding policies in bulk with any domestic stipulated premium insurer operating under § 23-71-101 et seq. and, upon filing with the Insurance Commissioner, an agreement setting out the conditions of the proposed merger or bulk reinsurance, and certifying that the agreement has been approved by the boards of directors of the respective merging insurers, together with a financial statement of each such insurer. (2) The merger shall be subject to the commissioner's approval, in accordance with the same standards as are stated in § 23-69-143. (3) Upon approval, the membership or policyholders of the merged insurers are bound in all respects by the merger agreement as approved by the commissioner. (b) The domestic insurer may consolidate, merge, or bulk reinsure with any solvent legal reserve life insurer by proper resolution of its board of directors and pursuant to the commissioner's approval and applicable procedure provided by §§ 23-69-143 — 23-69-145, except that approval of the plans or agreement of merger or bulk reinsurance by members of any insurer involved may be dispensed with if the plan or agreement is otherwise approved by the commissioner. (c) A domestic insurer may convert into a legal reserve stock insurer under the procedures and conditions provided by § 23-69-141, but the insurer shall be subject to minimum capital stock and maximum risk requirement as provided in § 23-71-116 for stipulated premium plan insurers and to subdivisions (d)(3) and (4) and subdivision (d)(6) of this section. (d) A domestic insurer may convert to a legal reserve mutual insurer under a plan filed with and approved by the commissioner as being

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-72-119

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 23-72-119. This identifies an authority to review, not proof of applicability.