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23-93-107. Disclosure statement — Review.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-93-107. Disclosure statement — Review.
(a) The State Insurance Department shall review the filed disclosure document for the following:
(1) The completeness of the filing; and
(2) The manner and method of computing the reserve.
(b) The Insurance Commissioner shall notify a provider of any deficiency in the filing within sixty (60) days from the date of filing. If the provider is notified of deficiencies in the filing, reasonable time shall be allowed to the provider to correct the deficiencies.
(c) No provider may offer continuing care contracts to the public during the initial sixty-day filing period or during the period allowed to correct deficiencies noted by the commissioner.
(d) All disclosure statements shall be made available at the facility and the office of the commissioner for inspection by the citizens of this state upon request. Each resident of a facility shall be informed of the availability of the statement annually.
(e) Each disclosure statement shall clearly state that:
(1) A prospective or present resident shall rely solely upon the provider for the accuracy and completeness of the information contained in the disclosure statement; and
(2) No independent investigation of the accuracy of the information has been conducted by the commissioner.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-93-107
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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Authority boundary: historical statutory source snapshot not current law.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-93-107
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 76b51d77f05b5c0e071c6fdbe4ec740cac3b892925ef5912ebc14b7afde91aa7
Source location: content.xml paragraph 56424
Stored source content
23-93-107. Disclosure statement — Review.
(a) The State Insurance Department shall review the filed disclosure document for the following:
(1) The completeness of the filing; and
(2) The manner and method of computing the reserve.
(b) The Insurance Commissioner shall notify a provider of any deficiency in the filing within sixty (60) days from the date of filing. If the provider is notified of deficiencies in the filing, reasonable time shall be allowed to the provider to correct the deficiencies.
(c) No provider may offer continuing care contracts to the public during the initial sixty-day filing period or during the period allowed to correct deficiencies noted by the commissioner.
(d) All disclosure statements shall be made available at the facility and the office of the commissioner for inspection by the citizens of this state upon request. Each resident of a facility shall be informed of the availability of the statement annually.
(e) Each disclosure statement shall clearly state that:
(1) A prospective or present resident shall rely solely upon the provider for the accuracy and completeness of the information contained in the disclosure statement; and
(2) No independent investigation of the accuracy of the information has been conducted by the commissioner.
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