Browse Arkansas Code titles and sections
23-81-817. Unfair trade practices.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-817. Unfair trade practices.
A violation of §§ 23-81-801 — 23-81-816 shall be considered an unfair trade practice pursuant to § 23-66-206 and shall be subject to the provisions related to hearings and penalties for violations of §§ 23-66-207 — 23-66-212 of the Trade Practices Act, § 23-66-201 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-817
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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Stable record: arkansas_code:legal_authorities:23-81-817
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 8186ee14a6b46502b310d3ad1c57ff15d199869ff5e47af84c209a8789f9b7b3
Source location: content.xml paragraph 50047
Stored source content
23-81-817. Unfair trade practices.
A violation of §§ 23-81-801 — 23-81-816 shall be considered an unfair trade practice pursuant to § 23-66-206 and shall be subject to the provisions related to hearings and penalties for violations of §§ 23-66-207 — 23-66-212 of the Trade Practices Act, § 23-66-201 et seq.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-66-206. Unfair methods of competition and unfair or deceptive acts or practices defined.
The following are defined as unfair methods of competition and unfair or deceptive acts or practices in the business of insurance:
(1) “Boycott, coercion, and intimidation” means entering into any agreement to commit or, by any concerted action, committing any act of boycott, coercion, or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance;
(2) “Churning of business” means a situation in which the licensee replaces an existing policy of life insurance or accident and health insurance, or both, and that replacement is:
(A) Not in accordance with § 23-66-307; or
(B) Without objective demonstration by the licensee of the purpose of replacing the policy for the benefit and betterment of the insured;
(3) “Defamation” means making, publishing, disseminating, or circulating, directly or indirectly, or aiding, abetting, or encouraging the making, publishing, disseminating, or circulating of any oral or written statement or of any pamphlet, circular, article, or literature that is false or maliciously critical of or derogatory to the financial condition of any person and that is calculated to injure that person;
(4)(A) “Failure to maintain complaint handling procedures” means failing to adopt and implement reasonable standards for the prompt handling of complaints received by the person from insureds or claimants, or from the Insurance Commissioner on behalf of insureds or claimants, and failing to keep a record of the complaints received.
(B) A complete complaints register of all complaints that the person has received shall be maintained for the current year plus five (5) calendar years. This complaints re
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-206
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 23-66-206. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-66-207. Rules to identify prohibited methods of competition, acts, or practices.
(a) The Insurance Commissioner may, after notice and hearing, promulgate reasonable rules, as are necessary or proper to identify specific methods of competition or acts or practices which are prohibited by § 23-66-206 or § 23-66-312, but the rules shall not enlarge upon or extend the provisions of those sections.
(b) The rules shall be subject to review in accordance with § 23-61-307.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-207
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 23-66-207. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-801. Short title.
This subchapter shall be known and may be cited as the “Life Settlements Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-801
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 23-81-801. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-816. Penalties.
(a) It is a violation of this subchapter for any person, provider, broker, or any other party related to the business of life settlements to commit a fraudulent life settlement act.
(b) For criminal liability purposes, a person that commits a fraudulent life settlement act is guilty of committing insurance fraud and shall be subject to the penalty provisions under § 23-66-512.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-816
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 23-81-816. This identifies an authority to review, not proof of applicability.