Arkansas Code Title 23, Subtitle 3, Chapter 94, Subchapter 2 - Risk Retention and Purchasing Groups Act

• § 23-94-201 - Title.
  This subchapter may be cited as the "Risk Retention and Purchasing Groups Act".
• § 23-94-202 - Purpose.
  The purpose of this subchapter is to regulate the formation and operation of risk retention groups and purchasing groups in this state formed pursuant...
• § 23-94-203 - Definitions.
  As used in this subchapter: (1) "Commissioner" means the Insurance Commissioner of this state or the commissioner, director, or superintendent of insurance in any...
• § 23-94-204 - Domestic Risk Retention Groups.
  (a) (1) To be organized as a risk retention group in this state, the risk retention group must be organized and licensed to write...
• § 23-94-205 - Foreign Risk Retention Groups.
  Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention group in this...
• § 23-94-206 - Compulsory Associations.
  (a) No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism,...
• § 23-94-207 - Purchasing Groups -- Exemption From Certain Laws.
  A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and...
• § 23-94-208 - Notice and Registration Requirements of Purchasing Groups.
  (a) A purchasing group which intends to do business in this state must obtain a certificate of registration from the commissioner. The commissioner shall...
• § 23-94-209 - Restrictions on Insurance Purchased by Purchasing Groups.
  (a) A purchasing group may not purchase insurance from a risk retention group that does not hold a certificate of registration in this state...
• § 23-94-210 - Taxation.
  (a) Each authorized risk retention group shall, on or before March 1 of each year, file with the commissioner on forms prescribed by the...
• § 23-94-211 - License Fees.
  The provisions as to fees for obtaining and continuing licenses for insurers, agents, and brokers under § 23-61-401 shall be applicable to risk retention...
• § 23-94-212 - Administrative and Procedural Authority Regarding Risk Retention Groups and Purchasing Groups.
  The commissioner is authorized to make use of any of the powers established under the Arkansas Insurance Code to enforce the laws of this...
• § 23-94-213 - Duty of Agents or Brokers to Obtain License.
  (a) Risk Retention Group Agents. Any person acting, or offering to act, as an agent or broker for a registered risk retention group which...
• § 23-94-214 - Binding Effect of Orders Issued in United States District Court.
  An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating in...
• § 23-94-215 - Rules and Regulations.
  The commissioner may establish and from time to time amend such rules relating to risk retention groups as may be necessary or desirable to...

Last modified: November 15, 2016