§ 23-61-206 — Examination expense

Arkansas § 23-61-206

• Jurisdiction: Arkansas
• Title: 23

Text

(a) (1) Each person examined shall pay to the State Insurance Department the actual travel expenses, reasonable living expense allowance, and compensation for examiners and other persons assisting in the examination according to the examination guidance section in the most current edition of the examiners handbook adopted by the National Association of Insurance Commissioners. (2) Except as provided in subdivision (a)(1) of this section, the cost of independent professionals used as examiners to assist in an examination under subsection (b) of this section is paid directly by the person examined. (b) (1) Payments for travel expenses and living expense allowance received by the department for each examination shall be deposited as cash funds. (2) Reimbursement shall be made from these funds to examiners and others assisting in the examination. (3) (A) Per diem charges of examiners and others assisting in the examination shall be computed beginning at the time of reporting for duty at the office of the company to be examined and terminating upon completion of the examination or the examiner's active participation therein and to include actual days for travel as certified by the Insurance Commissioner. (B) If air travel is used, only one (1) day's travel time will be authorized. (C) If an automobile is used, travel time allowed shall be computed at the rate of not less than four hundred (400) miles per day as determined by the Rand McNally Road Atlas, with the actual mileage traveled compensated at the most current rate per mile according to the examination guidance section in the most current edition of the Financial Condition Examiner's Handbook published by the National Association of Insurance Commissioners. (4) Examiners and others assisting in the examination shall not be reimbursed for travel time or travel expenses not actually incurred in connection with an assignment, nor shall they be reimbursed for dual living expenses while on branch office assignments. (5) Examiners and others assisting in the examination, when participating in or conducting an examination of a foreign company, shall be authorized to return to their state of domicile every other weekend. Their expenses will be paid based upon the lesser of airfare or mileage. The reimbursement shall be made in lieu of the per diem allowance. The travel shall be accomplished with a minimum amount of work time lost. (c) Payments for employee compensation received by the department shall be deposited by the commissioner into the State Treasury to be credited to the State Insurance Department Trust Fund used for the maintenance, operation, and support of the department. (d) No person shall pay, and no examiner shall accept, any additional emolument on account of any examination.

Legislative History

Amended by Act 2023, No. 469,§ 2, eff. 8/1/2023. Amended by Act 2013, No. 355,§ 2, eff. 8/16/2013. Acts 1959, No. 148, § 35; 1967, No. 433, § 1; 1977, No. 789, § 1; 1983, No. 454, § 1; A.S.A. 1947, § 66-2120; Acts 1991, No. 723, § 7; 1999, No. 881, § 5; 2007, No. 496, § 3.