Arkansas Code Title 4, Subtitle 7, Chapter 114 - Service Contracts Act

• § 4-114-101 - Title.
  This chapter shall be known and may be cited as the "Service Contracts Act".
• § 4-114-102 - Scope and Purpose.
  (a) The purpose of this chapter is to: (1) Create a legal framework within which service contracts are defined, may be sold, and are...
• § 4-114-103 - Definitions.
  As used in this chapter: (1) "Administrator" means the person who is responsible for the administration of a service contract; (2) "Consumer" means an...
• § 4-114-104 - Requirements for Doing Business.
  (a) A provider may appoint an administrator or other designee to be responsible for all or part of the administration of service contracts and...
• § 4-114-105 - Required Disclosures -- Reimbursement Insurance Policy.
  (a) Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale in this state shall state that the insurer that issued the...
• § 4-114-106 - Required Disclosure -- Service Contracts.
  (a) A service contract issued, sold, or offered for sale in this state shall: (1) Be written in clear, understandable language that is easy...
• § 4-114-107 - Prohibited Acts.
  (a) (1) A provider shall not use a name: (A) With the words "insurance", "casualty", "surety", "mutual", or any other words descriptive of the...
• § 4-114-108 - Recordkeeping Requirements.
  (a) (1) A provider shall keep accurate accounts, books, and records concerning transactions regulated under this chapter. (2) A provider's accounts, books, and records...
• § 4-114-109 - Cancellation of Reimbursement Insurance Policy.
  (a) An insurer that issued a reimbursement insurance policy shall not terminate the policy until at least sixty (60) days' notice of termination has...
• § 4-114-110 - Obligation of Reimbursement Insurance Policy Insurers.
  (a) (1) A provider is considered to be the agent of the insurer that issued a reimbursement insurance policy for the purpose of obligating...
• § 4-114-111 - Enforcement Provisions.
  (a) The Insurance Commissioner may conduct investigations or examinations of providers, administrators, insurers, or other persons to enforce the provisions of this chapter and...
• § 4-114-112 - Rules.
  The Insurance Commissioner may promulgate rules necessary to effectuate this chapter.

Last modified: November 15, 2016