(a) (1) All insurers licensed to transact property insurance, as defined in ยง 23-62-104, shall become members of the Arkansas Rural Risk Underwriting Association.
(2) For the purposes of this section, farmers' mutual aid associations or companies are insurers and are subject to the assessments and other requirements imposed on insurers under this section.
(b) This association or company shall provide a plan of property insurance to insurable rural risk applicants. Rural risk applicants are those applicants seeking insurance on risks located in geographic areas to be determined "rural areas" by the governing board, subject to the approval of the Insurance Commissioner.
Section: Previous 23-88-302 23-88-303 23-88-304 23-88-305 23-88-306 23-88-307 23-88-308 23-88-309 NextLast modified: November 15, 2016