Arkansas § 23-102-110 Coverages accessible through Arkansas Earthquake Authority

Arkansas Statutes

§ 23-102-110 — Coverages accessible through Arkansas Earthquake Authority

Arkansas § 23-102-110

Title23

This text of Arkansas § 23-102-110 (Coverages accessible through Arkansas Earthquake Authority) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 23-102-110 (2026).

Text

(a)As long as the Market Assistance Program has at least one (1) approved insurer, no residential earthquake coverage shall be issued by the Arkansas Earthquake Authority, except as provided in subsection (b) of this section.

(b)If there are no approved insurers in the program or if after notice and hearing, the Board of the Arkansas Earthquake Authority or the Insurance Commissioner finds that the program rates substantially exceed rates that could be offered by the authority, and the board or commissioner finds after a hearing that it is in the best interests of Arkansas citizens to issue coverage directly through the authority, and with the concurrence of the House Committee on Insurance and Commerce and the Senate Committee on Insurance and Commerce, if the General Assembly is in ses

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(a) As long as the Market Assistance Program has at least one (1) approved insurer, no residential earthquake coverage shall be issued by the Arkansas Earthquake Authority, except as provided in subsection (b) of this section. (b) If there are no approved insurers in the program or if after notice and hearing, the Board of the Arkansas Earthquake Authority or the Insurance Commissioner finds that the program rates substantially exceed rates that could be offered by the authority, and the board or commissioner finds after a hearing that it is in the best interests of Arkansas citizens to issue coverage directly through the authority, and with the concurrence of the House Committee on Insurance and Commerce and the Senate Committee on Insurance and Commerce, if the General Assembly is in session, or the concurrence of the House Committee on Insurance and Commerce and the Senate Committee on Insurance and Commerce, if the General Assembly is not in session, the board shall proceed to offer coverage through the authority to potential insureds.