Arkansas Code Title 23, Subtitle 3, Chapter 63, Subchapter 5 - Insurance Holding Company Regulatory Act

• § 23-63-501 - Title.
  This subchapter may be cited as the "Insurance Holding Company Regulatory Act".
• § 23-63-502 - Legislative Findings.
  (a) (1) It is found and declared that it may not be inconsistent with the public interest and the interest of policyholders and shareholders...
• § 23-63-503 - Definitions.
  As used in this subchapter: (1) "Affiliate" of or person "affiliated" with a specific person means a person that directly or indirectly through one...
• § 23-63-504 - [Repealed.]
• § 23-63-505 - Subsidiaries of Insurer.
  (a) Authorization. Any domestic insurer, subject to this subchapter, either by itself or in cooperation with one (1) or more persons, may organize or...
• § 23-63-506 - Control of or Merger With Domestic Insurer -- Filing Requirements.
  (a) (1) No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter...
• § 23-63-507 - Control of or Merger With Domestic Insurer -- Exceptions.
  The provisions of §§ 23-63-506 -- 23-63-513 shall not apply to: (1) Any offers, requests, invitations, agreements, or acquisitions by the person referred to...
• § 23-63-508 - Control of or Merger With Domestic Insurer -- Content of Statement.
  (a) The statement to be filed with the Insurance Commissioner pursuant to this section shall be made under oath or affirmation and shall contain...
• § 23-63-509 - Control of or Merger With Domestic Insurer -- Alternative Filing Materials.
  If any offer, request, invitation, agreement, or acquisition referred to in § 23-63-506 is proposed to be made by means of a registration statement...
• § 23-63-510 - Control of or Merger With Domestic Insurer -- Approval by Commissioner -- Hearing.
  (a) The Insurance Commissioner shall approve any merger or other acquisition of control referred to in § 23-63-506 unless, after a public hearing thereon,...
• § 23-63-511 - Control of or Merger With Domestic Insurer -- Mailings.
  (a) All statements, amendments, or other materials filed pursuant to § 23-63-506 or § 23-63-508 and all notices of public hearings held pursuant to...
• § 23-63-512 - Control of or Merger With Domestic Insurer -- Jurisdiction of Courts -- Service of Process.
  (a) The courts of this state are vested with jurisdiction over every person not resident, domiciled, or authorized to do business in this state...
• § 23-63-513 - Control of or Merger With Domestic Insurer -- Violations.
  The following shall be violations of §§ 23-63-506 -- 23-63-513: (1) The failure to file any statement, amendment, or other materials required to be...
• § 23-63-514 - Registration of Insurers.
  (a) Registration. Every insurer that is authorized to do business in this state and that is a member of an insurance holding company system...
• § 23-63-515 - Standards.
  (a) (1) Material transactions by insurers registered with the Insurance Commissioner under § 23-63-514 with their affiliates shall be subject to the following standards:...
• § 23-63-516 - Examination.
  (a) Power of Insurance Commissioner. Subject to the limitation contained in this section and in addition to the powers of the Insurance Commissioner under...
• § 23-63-517 - Confidential Treatment.
  (a) (1) All information and documents obtained by or disclosed to the Insurance Commissioner or any other person in the course of an examination...
• § 23-63-518 - Rules and Regulations.
  After compliance with §§ 23-61-108 and 23-61-304 of the Arkansas Insurance Code, the Insurance Commissioner may issue such rules, regulations, and orders as shall...
• § 23-63-519 - Judicial Review -- Mandamus.
  (a) (1) Any person aggrieved by any act, determination, rule, regulation, order, or any other action of the Insurance Commissioner pursuant to this subchapter...
• § 23-63-520 - Voting of Securities.
  (a) When Prohibited. (1) No security which is the subject of any agreement or arrangement regarding acquisition, or which is acquired or to be...
• § 23-63-521 - Injunctions.
  Whenever it appears to the Insurance Commissioner that any insurer or any director, officer, employee, or agent of an insurer has committed or is...
• § 23-63-522 - Criminal and Civil Proceedings.
  (a) Whenever it appears to the Insurance Commissioner that any insurer or any director, officer, employee, or agent of the insurer has committed a...
• § 23-63-523 - Receivership.
  (a) Whenever it appears to the Insurance Commissioner that any person has committed a violation of this subchapter which so impairs the financial condition...
• § 23-63-524 - Revocation, Suspension, or Nonrenewal of Insurer's License.
  (a) Whenever it appears to the Insurance Commissioner that any person has committed a violation of this subchapter which makes the continued operation of...
• § 23-63-525 - Acquisitions Involving Insurers Not Otherwise Covered -- Definitions.
  The following definitions shall apply for the purposes of §§ 23-63-525 -- 23-63-530 only: (1) "Acquisition" means any agreement, arrangement, or activity the consummation...
• § 23-63-526 - Acquisitions Involving Insurers Not Otherwise Covered -- Scope.
  (a) Except as exempted in subsection (b) of this section, §§ 23-63-525 -- 23-63-528 apply to any acquisition in which there is a change...
• § 23-63-527 - Acquisitions Involving Insurers Not Otherwise Covered -- Preacquisition Notification, Waiting Period.
  (a) An acquisition covered by § 23-63-526 may be subject to an order pursuant to § 23-63-529 unless the acquiring person files a preacquisition...
• § 23-63-528 - Acquisitions Involving Insurers Not Otherwise Covered -- Competitive Standard.
  (a) The Insurance Commissioner may enter an order under § 23-63-529(a) with respect to an acquisition if there is substantial evidence that the effect...
• § 23-63-529 - Acquisitions Involving Insurers Not Otherwise Covered -- Orders and Penalties.
  (a) (1) If an acquisition violates the standards of §§ 23-63-525 -- 23-63-528, the Insurance Commissioner may enter an order: (A) Requiring an involved...
• § 23-63-530 - Acquisitions Involving Insurers Not Otherwise Covered -- Inapplicable Provisions.
  Sections 23-63-520 and 23-63-523 do not apply to acquisitions covered under § 23-63-526.
• § 23-63-531 - Supervisory Colleges.
  (a) (1) The Insurance Commissioner may participate in a supervisory college for a domestic insurer registered under § 23-63-514 that is part of an...
• § 23-63-532 - Group-Wide Supervision of Internationally Active Insurance Groups.
  (a) (1) The Insurance Commissioner may act as a group-wide supervisor for any internationally active insurance group under this section. (2) However, the commissioner...

Last modified: November 15, 2016