Arkansas Code Title 23, Subtitle 3, Chapter 71 - Stipulated Premium Insurers

• § 23-71-101 - Definition.
  As used in the Arkansas Insurance Code, unless the context otherwise requires, a "stipulated premium plan insurer" is one issuing policies or certificates promising...
• § 23-71-102 - Scope.
  (a) This chapter applies only to stipulated premium plan insurers.(b) No provisions of the Arkansas Insurance Code shall apply to stipulated premium plan insurers...
• § 23-71-103 - Other Provisions Applicable.
  In addition to the provisions contained in this chapter, other chapters and provisions of the Arkansas Insurance Code shall apply to stipulated premium plan...
• § 23-71-104 - Incorporation, Reincorporation, or Formation Prohibited.
  No corporation or other entity shall be incorporated, reincorporated, or formed in this state as a stipulated premium plan insurer after January 1, 1960.
• § 23-71-105 - Reserves and Nonforfeiture Provisions Required.
  (a) Stipulated premium insurers shall be required to maintain reserves on all life insurance policies, annuity and endowment contracts, and disability insurance policies issued...
• § 23-71-106 - Use of "Stipulated Premium" Prohibited -- Exception.
  No insurer shall use the term "stipulated premium" in its insurance applications or contracts, or print or use that term in its policies or...
• § 23-71-107 - Articles of Incorporation and Capital Stock.
  The articles of incorporation and paid-up capital stock of a stipulated premium plan insurer shall be the same as required of it under laws...
• § 23-71-108 - New Insurers.
  No insurer shall transact insurance on the stipulated premium plan in this state unless it lawfully had authority to transact the insurance on January...
• § 23-71-109 - Insuring Powers.
  On the stipulated premium plan, an insurer may insure the lives of individuals and may provide for indemnity against death or disability of the...
• § 23-71-110 - Guaranty Fund Deposit.
  (a) (1) (A) Every insurer shall have deposited and maintain on deposit with the Insurance Commissioner acceptable securities in amounts based upon the amount...
• § 23-71-111 - Policies -- Liability.
  (a) Every policy issued by a stipulated premium plan insurer in this state shall specify the sum of money which it promises to pay...
• § 23-71-112 - Benefits Not Subject to Attachment.
  The money or other benefit, charity, relief, or aid to be paid, provided, or rendered by an insurer authorized to do business under this...
• § 23-71-113 - Insolvency.
  (a) From and after January 1, 1968, the capital of a stipulated premium plan insurer shall be deemed to be impaired and the insurer...
• § 23-71-114 - Personal Liability.
  No officer, director, stockholder, or employee shall, as such, be personally liable for the losses or liability of any stipulated premium plan insurer.
• § 23-71-115 - Merger, Consolidation, or Adoption of Plan of Exchange.
  (a) A stipulated premium plan insurer may merge or consolidate into another stipulated premium plan insurer or into a stock insurer authorized to transact...
• § 23-71-116 - Conversion to Legal Reserve Insurer.
  A stipulated premium plan insurer may be converted to a legal reserve stock life and accident and health insurer subject to the following conditions:...

Last modified: November 15, 2016