Arkansas Code Title 23, Subtitle 3, Chapter 63, Subchapter 16 - Licensing and Regulation of Captive Insurers
- § 23-63-1601 - Definitions.
As used in this subchapter: (1) "Affiliated company" means a company in the same corporate system as a parent, an industrial insured, or a...
- § 23-63-1602 - Application for License.
(a) When permitted by its articles of incorporation or charter, a captive insurance company may apply to the Insurance Commissioner for a license to...
- § 23-63-1603 - Similar Names.
A captive insurance company may not adopt a name that is the same as, deceptively similar to, or likely to be confused with or...
- § 23-63-1604 - Capital Requirements.
(a) (1) The Insurance Commissioner may not issue a license to a producer reinsurance captive insurance company, pure captive insurance company, sponsored captive insurance...
- § 23-63-1605 - Surplus Requirements.
(a) (1) The Insurance Commissioner may not issue a license to a captive insurance company unless the company possesses and maintains unimpaired surplus of:...
- § 23-63-1606 - Organization.
(a) A producer reinsurance captive insurance company, pure captive insurance company, or a sponsored captive insurance company must be incorporated as a domestic stock...
- § 23-63-1607 - Reporting.
(a) A captive insurance company shall not be required to make an annual report, except as provided under this subchapter.(b) (1) Before March 1...
- § 23-63-1608 - Examinations.
(a) (1) At least one (1) time every three (3) years, or whenever the Insurance Commissioner determines it to be prudent, the commissioner or...
- § 23-63-1609 - Suspension and Revocation.
(a) The license of a captive insurance company to conduct an insurance business in this state may be penalized, suspended, or revoked by the...
- § 23-63-1610 - Investments.
(a) (1) Except as provided in ยง 23-63-1614, an association captive insurance company, a producer reinsurance captive insurance company, a sponsored captive insurance company,...
- § 23-63-1611 - Reinsurance.
(a) A captive insurance company may provide reinsurance under the Arkansas Insurance Code, on risks ceded by any other insurer.(b) A captive insurance company...
- § 23-63-1612 - Rating Organizations.
A captive insurance company may not be required to join a rating organization.
- § 23-63-1613 - Pools, Plans, Associations, and Guaranty or Insolvency Funds.
(a) A captive insurance company, including a captive insurance company organized as a reciprocal insurer under this subchapter, shall not join or contribute financially...
- § 23-63-1614 - Premium Tax.
(a) Except as provided in this section, a captive insurance company shall pay to the Insurance Commissioner by March 1 of each year, a...
- § 23-63-1615 - Regulations.
(a) The Insurance Commissioner may promulgate regulations relating to captive insurance companies as are necessary to carry out this subchapter.(b) (1) The commissioner may...
- § 23-63-1616 - Limitations.
(a) The Arkansas Insurance Code does not apply to captive insurance companies except for those provisions contained in or specifically referenced in this subchapter...
- § 23-63-1617 - Reorganizations, Receiverships, and Injunctions.
Except as provided in this subchapter, the terms and conditions in the Arkansas Insurance Code pertaining to insurance reorganizations, receiverships, and injunctions apply to...
- § 23-63-1618 - Availability of Funds.
In the case of a producer reinsurance captive insurance company or a sponsored captive insurance company: (1) The assets of the protected cell may...
- § 23-63-1619 - Conversions and Mergers.
(a) An association captive insurance company or industrial insured group formed as a stock or mutual corporation may be converted to or merged with...
- § 23-63-1620 - Sponsorship Requirements.
(a) One (1) or more sponsors may form a sponsored captive insurance company under this subchapter.(b) A sponsor of a sponsored captive insurance company...
- § 23-63-1621 - Participants.
(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a sponsored captive insurance company formed...
- § 23-63-1622 - Producer Reinsurance Protected Cell Requirements.
A producer reinsurance captive insurance company formed or licensed under this subchapter may establish and maintain one (1) or more protected cells to insure...
- § 23-63-1623 - Certificate of Authority.
A licensed captive insurance company that meets the necessary requirements of the Arkansas Insurance Code, imposed upon an insurer may be considered for issuance...
Last modified: November 15, 2016