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23-91-222. Revocation of certificate of authority.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-91-222. Revocation of certificate of authority.
The Insurance Commissioner may suspend, revoke, or refuse to renew any certificate of authority issued to a person transacting the business of legal insurance under this subchapter pursuant to and consistent with the relevant provisions of §§ 23-63-212 — 23-63-215.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-91-222
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:23-91-222
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6991dc51b919d8a11a22b47b32e7244882fd12c47af58c7cc561aa40499216df
Source location: content.xml paragraph 55450
Stored source content
23-91-222. Revocation of certificate of authority.
The Insurance Commissioner may suspend, revoke, or refuse to renew any certificate of authority issued to a person transacting the business of legal insurance under this subchapter pursuant to and consistent with the relevant provisions of §§ 23-63-212 — 23-63-215.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-212. Certificate of authority — Mandatory suspension or revocation.
(a) The Insurance Commissioner shall suspend or revoke an insurer's certificate of authority:
(1) If the action is required by any provision of the Arkansas Insurance Code; or
(2) If the insurer no longer meets the requirements for the authority originally granted, on account of deficiency of assets or otherwise; or
(3) If the insurer's authority to transact insurance is suspended or revoked by its state of domicile, or state of entry into the United States if an alien insurer.
(b)(1) Except in cases of insolvency or impairment of required capital or surplus, or suspension or revocation by another state as referred to in subdivision (a)(3) of this section, the commissioner shall give the insurer at least ten (10) days' written notice in advance of any suspension or revocation under this section.
(2) If the insurer requests a hearing thereon within the ten (10) days, the request shall automatically stay the commissioner's proposed action until his or her order is made on the hearing.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-212
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 23-63-212. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-215. Certificate of authority — Period of suspension — Reinstatement.
(a) The suspension of an insurer's certificate of authority is indefinite unless:
(1) A specific period is fixed by the Insurance Commissioner in the order of suspension; or
(2) The commissioner shortens or rescinds the suspension.
(b)(1) Unless in the order of suspension the commissioner waives payment of any fees, licenses, and taxes during the suspension, the insurer shall file its annual statement and pay fees, licenses, and taxes during the suspension as required under the Arkansas Insurance Code as if the certificate of authority had continued in full force.
(2) Upon reinstatement of a suspended insurer's certificate of authority, all fees, licenses, and taxes accumulated during the suspension are immediately due and payable.
(c)(1) If a suspension ends within the period a certificate of authority has not otherwise terminated, the certificate of authority shall automatically reinstate unless the commissioner finds that:
(A) The causes of the suspension have not been removed; or
(B) The insurer is not in compliance with the Arkansas Insurance Code.
(2) If the commissioner finds that the certificate of authority does not automatically reinstate, the commissioner shall provide written notice and give the insurer thirty (30) days to remove the cause for suspension or otherwise comply with the Arkansas Insurance Code.
(3) If the certificate of authority is not automatically reinstated, the certificate of authority shall be deemed to have expired upon the earliest of:
(A) Thirty (30) days after the commissioner gives notice under subdivision (c)(2) of this section; or
(B) The failure of the insurer to continue the certificate of authority during the suspension.
(d) Upon
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-215
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. The source passage cites 23-63-215. This identifies an authority to review, not proof of applicability.