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23-91-215. Annual report.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-91-215. Annual report.
Each insurer shall annually, on or before March 1, file with the Insurance Commissioner a report verified by at least two (2) principal officers. The report shall be on forms prescribed by the commissioner and shall include:
(1) A financial statement of the insurer's legal insurance business including:
(A) Its balance sheet; and
(B) Its receipts and disbursements for the preceding year;
(2) Any material changes in the information submitted pursuant to § 23-91-209;
(3) Such information about the number of persons protected and terminated as may be prescribed by the commissioner; and
(4) Such other information relating to the performance of the insurer as is necessary to enable the commissioner to carry out his or her duties under this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-91-215
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:23-91-215
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1e3bb041d856af52fdee371c0853d340c9119b95778a212085c4bf8b0a8ce96d
Source location: content.xml paragraph 55392
Stored source content
23-91-215. Annual report.
Each insurer shall annually, on or before March 1, file with the Insurance Commissioner a report verified by at least two (2) principal officers. The report shall be on forms prescribed by the commissioner and shall include:
(1) A financial statement of the insurer's legal insurance business including:
(A) Its balance sheet; and
(B) Its receipts and disbursements for the preceding year;
(2) Any material changes in the information submitted pursuant to § 23-91-209;
(3) Such information about the number of persons protected and terminated as may be prescribed by the commissioner; and
(4) Such other information relating to the performance of the insurer as is necessary to enable the commissioner to carry out his or her duties under this subchapter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-91-209. Conditions for issuing certificate of authority.
(a) Upon receipt of an application for a certificate of authority, the Insurance Commissioner shall issue or deny a certificate pursuant to this subchapter within sixty (60) days of the application. This may be extended for an additional thirty (30) days by notice to the applicant prior to the expiration of the first sixty (60) days. A certificate of authority shall be issued upon payment of the application fee prescribed in § 23-91-225 if the commissioner is satisfied that the following conditions are met:
(1) The persons responsible for the conduct of the affairs of the applicant are competent, trustworthy, and of good reputation;
(2) The applicant has paid-in capital in an amount not less than one hundred thousand dollars ($100,000) and additional working capital or surplus funds in an amount deemed by the commissioner to be adequate in relation to the proposed plan of operation; and
(3) The applicant demonstrates the willingness and ability to assure that the promised benefits can be provided. In making this determination, the commissioner shall consider so far as applicable:
(A) Any agreements with lawyers or paralegal personnel for the provisions of legal services;
(B) The financial soundness of the applicant's arrangements for legal services and the schedule of rates proposed to be used in connection therewith;
(C) Any agreement with another person authorized under this subchapter, an insurer licensed under the general insurance laws to do business in this state, a reinsurer eligible under the laws or rules of this state to provide reinsurance, or an agency of the federal or state government for insuring the payment of the cost of legal services or the provision for automatic applicability
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-91-209
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 23-91-209. This identifies an authority to review, not proof of applicability.