Arkansas Code Title 23, Subtitle 3, Chapter 96 - Arkansas Life and Health Insurance Guaranty Association Act

• § 23-96-101 - Title.
  This chapter shall be known and cited as the "Arkansas Life and Health Insurance Guaranty Association Act".
• § 23-96-102 - Purpose.
  (a) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in § 23-96-107(a) against failure in the performance...
• § 23-96-103 - Construction -- Applicability.
  (a) This chapter shall be construed to effect the purpose under § 23-96-102.(b) Nothing in this chapter shall be construed to reduce the liability...
• § 23-96-104 - Definitions.
  As used in this chapter: (1) "Account" means any of the two (2) accounts created under § 23-96-109; (2) "Association" means the Arkansas Life...
• § 23-96-105 - Advertisement of Association Act in Insurance Sales -- Notice to Policy Owners.
  (a) No person, including an insurer, agent, or affiliate of an insurer shall make, publish, disseminate, circulate, or place before the public, or cause,...
• § 23-96-106 - Scope of Chapter.
  (a) This chapter shall not provide coverage for: (1) A portion of a policy or contract not guaranteed by the insurer, or under which...
• § 23-96-107 - Coverage.
  (a) This chapter shall provide coverage for the policies and contracts specified in subsection (b) of this section to: (1) Persons who, regardless of...
• § 23-96-108 - Immunity.
  There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or...
• § 23-96-109 - Creation of the Association -- Examination -- Annual Report -- Tax Exemption -- Board of Directors.
  (a) (1) There is created a nonprofit legal entity to be known as the "Arkansas Life and Health Insurance Guaranty Association". All member insurers...
• § 23-96-110 - Powers and Duties of Association.
  (a) In addition to the rights and powers elsewhere in this chapter, the Arkansas Life and Health Insurance Guaranty Association may: (1) Enter into...
• § 23-96-111 - Impaired Insurers.
  If a member insurer is an impaired insurer, the Arkansas Life and Health Insurance Guaranty Association may, in its discretion and subject to any...
• § 23-96-112 - Insolvent Insurers.
  (a) If a member insurer is an insolvent insurer, the Arkansas Life and Health Insurance Guaranty Association shall, in its discretion, either: (1) (A)...
• § 23-96-113 - Authority of Association When Proceeding Under § 23-96-111 or § 23-96-112.
  (a) (1) When proceeding under § 23-96-111 or § 23-96-112(a)(2), the Arkansas Life and Health Insurance Guaranty Association shall: (A) With respect to life...
• § 23-96-114 - Liability for Benefits -- Assignment or Subrogation of Rights.
  (a) The benefits that the Arkansas Life and Health Insurance Guaranty Association may become obligated to cover shall in no event exceed the lesser...
• § 23-96-115 - Assessments -- Tax Credits.
  (a) (1) For the purpose of providing the funds necessary to carry out the powers and duties of the Arkansas Life and Health Insurance...
• § 23-96-116 - Plan of Operation.
  (a) (1) The Arkansas Life and Health Insurance Guaranty Association shall submit to the Insurance Commissioner a plan of operation and any amendments thereto...
• § 23-96-117 - Detection and Prevention of Insolvencies or Impairments.
  To aid in the detection and prevention of insurer insolvencies or impairments: (1) It shall be the duty of the Insurance Commissioner: (A) (i)...
• § 23-96-118 - Duties and Powers of Commissioner.
  (a) In addition to the duties and powers enumerated elsewhere in this chapter: (1) The Insurance Commissioner shall: (A) Upon request of the Board...
• § 23-96-119 - Distributions of Ownership Rights.
  (a) (1) Prior to the termination of any liquidation, rehabilitation, or conservation proceeding, the court may take into consideration the contributions of the respective...
• § 23-96-120 - Payment of Premiums.
  (a) Nonpayment of premiums within thirty-one (31) days after the date required under the terms of any guaranteed, assumed, alternative, or reissued policy or...
• § 23-96-121 - Reissuance of Terminated Coverage.
  (a) If the Arkansas Life and Health Insurance Guaranty Association elects to reissue terminated coverage at a premium rate different from that charged under...

Last modified: November 15, 2016