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23-91-203. Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-91-203. Definitions.
As used in this subchapter:
(1) “Commissioner” means the Insurance Commissioner;
(2) “Insurer” means any person who obtains a certificate of authority under this subchapter;
(3)(A) “Legal insurance” means that assumption of a contractual obligation to provide, during a specified interval of time, specified legal services or reimbursement for legal expenses in consideration of a specified payment, regardless of whether the payment is made by the beneficiaries individually or by a third person for them, in such a manner that the total cost incurred by assuming the obligation is to be spread directly or indirectly among a group of persons. It does not include the provision of, or reimbursement for, legal services incidental to other insurance coverages. The following are not considered insurance under the insurance laws of this state:
(i) Retainer contracts made with individual clients with the fees based on estimates of the nature and amount of services that will be provided to the specific client and similar contracts made with a group of clients involved in the same or closely related legal matters such as class actions;
(ii) The providing of no benefits other than consultation and advice in connection with, or a part of, referral services;
(iii) The providing of limited legal services regarding simple legal matters on an informal basis, not involving a legally binding promise, in the context of an employment, educational, or similar relationship;
(iv) Legal services provided by unions or employee associations to their members in matters relating to employment or occupation; and
(v) Legal services provided by an agency of the federal or state government or a subdivision thereof to its employees.
(B) “Contractual obligation” in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-91-203
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:23-91-203
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 759d5cba100f9de44b1625ea24b022f890c3cd1014ea9b203e81675cfc4e718c
Source location: content.xml paragraph 55243
Stored source content
23-91-203. Definitions.
As used in this subchapter:
(1) “Commissioner” means the Insurance Commissioner;
(2) “Insurer” means any person who obtains a certificate of authority under this subchapter;
(3)(A) “Legal insurance” means that assumption of a contractual obligation to provide, during a specified interval of time, specified legal services or reimbursement for legal expenses in consideration of a specified payment, regardless of whether the payment is made by the beneficiaries individually or by a third person for them, in such a manner that the total cost incurred by assuming the obligation is to be spread directly or indirectly among a group of persons. It does not include the provision of, or reimbursement for, legal services incidental to other insurance coverages. The following are not considered insurance under the insurance laws of this state:
(i) Retainer contracts made with individual clients with the fees based on estimates of the nature and amount of services that will be provided to the specific client and similar contracts made with a group of clients involved in the same or closely related legal matters such as class actions;
(ii) The providing of no benefits other than consultation and advice in connection with, or a part of, referral services;
(iii) The providing of limited legal services regarding simple legal matters on an informal basis, not involving a legally binding promise, in the context of an employment, educational, or similar relationship;
(iv) Legal services provided by unions or employee associations to their members in matters relating to employment or occupation; and
(v) Legal services provided by an agency of the federal or state government or a subdivision thereof to its employees.
(B) “Contractual obligation” in subdivision (3)(A) of this section includes any arrangement in which those persons for whom services are to be provided under the arrangement have reasonable expectations of enforceable rights; and
(4) “Person” means the definition as used in § 23-60-102.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-60-102. Definitions.
As used in the Arkansas Insurance Code, unless the context otherwise requires:
(1)(A)(i) “Insurance” is any agreement, contract, or other transaction whereby one party, the “insurer”, is obligated to confer benefit of pecuniary value upon another party, the “insured” or “beneficiary”, dependent upon the happening of a fortuitous event in which the insured or beneficiary has, or is expected to have at the time of such a happening, a material interest that will be adversely affected by the happening of such an event.
(ii) A “fortuitous event” means any occurrence or failure to occur that is, or is assumed by the parties to be, to a substantial extent beyond the control of either party.
(B) “Insurance” shall, for purposes of subtitle 3 of this title, be deemed to include “annuities”, which are agreements by insurers to make periodic payments that continue during the survival of the measuring life or lives under the agreements or for a specified period.
(C) “Reinsurance” is a contract under which an originating insurer, called the “ceding” insurer, procures insurance for itself in another insurer, called the “assuming” insurer or reinsurer, with respect to part or all of an insurance risk of the originating insurer.
(D)(i) “Insurance” shall not include a debt cancellation agreement.
(ii) “Debt cancellation agreement” is a loan term or contractual arrangement modifying a loan term dealing with motor vehicles under which a lender agrees to cancel all or part of a borrower's obligation to repay an extension of credit from the lender upon the occurrence of a specified event other than the death or disability of the borrower. The agreement may be separate from or a part of other loan documents.
(2) “Insurer” includes every person engaged as
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-60-102
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 23-60-102. This identifies an authority to review, not proof of applicability.