Browse Arkansas Code titles and sections
4-90-510. Investigations and enforcement.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-90-510. Investigations and enforcement.
(a) The Insurance Commissioner is authorized to conduct such investigations of the motor vehicle service contract and theft protection program business of any motor vehicle service contract provider or warrantor and of any person assisting the motor vehicle service contract provider or warrantor in the conduct of such business as the commissioner may deem necessary.
(b) The commissioner shall have and may exercise all of the powers conferred by § 23-61-103, §§ 23-61-108 — 23-61-110, § 23-61-201(a)(1), §§ 23-61-203 — 23-61-206, and § 23-61-301 et seq. in the conduct of such investigations and in the enforcement of this subchapter and any rules promulgated by the commissioner.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-90-510
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:4-90-510
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 54f965d1e5004081fee0efbe902d673bf28a3a97a5f01540d86b9b42a2144b85
Source location: content.xml paragraph 35754
Stored source content
4-90-510. Investigations and enforcement.
(a) The Insurance Commissioner is authorized to conduct such investigations of the motor vehicle service contract and theft protection program business of any motor vehicle service contract provider or warrantor and of any person assisting the motor vehicle service contract provider or warrantor in the conduct of such business as the commissioner may deem necessary.
(b) The commissioner shall have and may exercise all of the powers conferred by § 23-61-103, §§ 23-61-108 — 23-61-110, § 23-61-201(a)(1), §§ 23-61-203 — 23-61-206, and § 23-61-301 et seq. in the conduct of such investigations and in the enforcement of this subchapter and any rules promulgated by the commissioner.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-61-103. Insurance Commissioner — Powers and duties.
(a) The Insurance Commissioner shall enforce the provisions of the Arkansas Insurance Code and shall execute the duties imposed upon him or her by the Arkansas Insurance Code.
(b) The commissioner shall have the powers and authority expressly conferred upon him or her by or reasonably implied from the provisions of the Arkansas Insurance Code.
(c) The commissioner is authorized to enter into regulatory cooperation and coordination agreements with other governmental regulatory agencies within and outside of this state with respect to the regulation of the business of insurance, including, but not limited to:
(1) Licensing of insurance companies;
(2) Licensing of producers;
(3) Regulation of premium rates and policy forms;
(4) Regulation of insurer solvency and insurance receiverships; and
(5) Other matters relating to the effective regulation of the business of insurance.
(d)(1) The commissioner may conduct such examinations and investigations of insurance matters, in addition to examinations and investigations expressly authorized, as he or she may deem proper to determine whether any person has violated any provision of the Arkansas Insurance Code or to secure information useful in the lawful administration of any such provision. The cost of these additional examinations or investigations shall be borne by the state.
(2) Notwithstanding any other provision of law, active investigatory or examination files as maintained by the State Insurance Department shall be deemed confidential and privileged and shall not be made open to the public until:
(A) The matter under investigation or examination is deemed closed by the commissioner; or
(B) Referred to any law enforcement authority and made subje
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-103
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 23-61-103. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-61-108. Rules.
(a)(1) The Insurance Commissioner, in consultation with the Secretary of the Department of Commerce, may make reasonable rules necessary for or as an aid to the effectuation of any provision of the Arkansas Insurance Code.
(2) No rule shall extend, modify, or conflict with any law of this state or the reasonable implications thereof.
(3) Any rule affecting persons or matters other than the personnel or the internal affairs of the commissioner's office shall be made or amended only after a hearing thereon of which notice was given as required by § 23-61-304.
(4) If reasonably possible, the commissioner shall set forth the proposed rule or amendment in or with the notice of hearing.
(5) No rule as to which a hearing is required under this subsection shall be effective until after it has been on file as a public record in the commissioner's office, and otherwise as provided by law, for at least ten (10) days.
(b)(1) The commissioner, in consultation with the Secretary of the Department of Commerce, shall have the authority to promulgate rules necessary for the effective regulation of the business of insurance or as required for this state to be in compliance with federal laws.
(2) The commissioner shall have the authority to coordinate regulatory activities and administration with other states and their appropriate regulatory officials and with the federal government with respect to the regulation of insurance.
(c) In addition to any other penalty provided, willful violation of any rule shall subject the violator to such denial, suspension, or revocation of certificate of authority or license as may be applicable under the Arkansas Insurance Code for violation of the provision to which the rule relates.
(d)(1) The commissioner is authori
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-108
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 23-61-108. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-61-110. Enforcement generally.
(a)(1)(A) The Insurance Commissioner may institute such suits or other legal proceedings as may be required for enforcement of any provisions of the Arkansas Insurance Code.
(B) In addition, the commissioner may intervene in any civil suit or administrative hearing initiated by another party against any person or entity regulated by the commissioner under the Arkansas Insurance Code, which suit or proceeding directly relates to the financial condition and solvency of such a person or entity.
(C) Nothing in this subsection shall be construed to limit the commissioner's authority as enumerated in other provisions of the Arkansas Insurance Code.
(2) If the commissioner has reason to believe that any person has violated any provision of the Arkansas Insurance Code for which criminal prosecution would be in order, he or she shall so inform the prosecuting attorney in whose district any purported violation may have occurred or the Criminal Investigation Division.
(3) If the commissioner finds that any person has violated any provision of the Arkansas Insurance Code, he or she may order restitution of actual losses to affected persons in addition to the denial, suspension, or revocation of any license or certificate or the imposition of any administrative or civil penalty.
(b) The commissioner may proceed in the courts of this state or any reciprocal state to enforce an order or decision in any court proceeding or in any administrative proceeding before the commissioner.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-110
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 23-61-110. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-61-201. Examination of insurers required.
(a)(1) The Insurance Commissioner shall examine the affairs, transactions, accounts, records, market conduct activity, and assets of each authorized insurer as often as in the commissioner's sole discretion he or she deems advisable.
(2) The commissioner shall so examine each authorized insurer not less frequently than every five (5) years.
(3) Examination of an alien insurer shall be limited to its insurance transactions and affairs in the United States.
(4) In scheduling and determining the nature, scope, and frequency of the examinations, the commissioner shall consider such matters as the results of financial statement analyses and ratios, changes in management or ownership, actuarial opinions, reports of independent certified public accountants, and other criteria as set forth in the most current edition of the applicable examiners handbook and other standards adopted by the National Association of Insurance Commissioners and in effect when the commissioner exercises discretion to conduct an examination under subdivision (a)(1) of this section.
(b) The commissioner may, in like manner, examine each insurer applying for an initial certificate of authority to transact insurance in this state.
(c) In lieu of making his or her own examination of any foreign or alien insurer authorized in this state, the commissioner may, in his or her discretion, accept a full report of the last recent examination of a foreign or alien insurer as prepared by the insurance department for the company's state of domicile or port-of-entry state. After January 1, 1994, such reports may only be accepted by the commissioner if:
(1) The insurance department preparing the report was at the time of the examination accredited under the Na
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-201
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 23-61-201. This identifies an authority to review, not proof of applicability.