If a member insurer is an impaired insurer, the Arkansas Life and Health Insurance Guaranty Association may, in its discretion and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer and that are approved by the Insurance Commissioner:
(1) Guarantee, assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, any or all of the policies or contracts of the impaired insurer; or
(2) Provide such moneys, pledges, loans, notes, guarantees, or other means as are proper to effectuate subdivision (1) of this section and assure payment of the contractual obligations of the impaired insurer pending action under subdivision (1) of this section.
Section: Previous 23-96-104 23-96-105 23-96-106 23-96-107 23-96-108 23-96-109 23-96-110 23-96-111 23-96-112 23-96-113 23-96-114 23-96-115 23-96-116 23-96-117 23-96-118 NextLast modified: November 15, 2016