Arkansas § 23-61-709 Insurance Commissioner's authority, powers, and duties

Arkansas Statutes

§ 23-61-709 — Insurance Commissioner's authority, powers, and duties

(a)The Insurance Commissioner shall be duly authorized to promulgate rules necessary to effectuate the purposes of this subchapter.

(b)Upon his or her determination and finding that State Insurance Department appropriations or funding is insufficient to operate the department efficiently or to allow the commissioner to perform all of his or her statutorily mandated duties and tasks, the commissioner may, in his or her discretion, by rule following notice and a public hearing, increase the amounts of the fees, license fees, fines, penalties, and revenues as provided in this subchapter for deposit into the State Insurance Department Trust Fund as special revenues.

(c)(1) Further, in his or her discretion the commissioner may establish and collect as special revenues additional or increase

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(a) The Insurance Commissioner shall be duly authorized to promulgate rules necessary to effectuate the purposes of this subchapter. (b) Upon his or her determination and finding that State Insurance Department appropriations or funding is insufficient to operate the department efficiently or to allow the commissioner to perform all of his or her statutorily mandated duties and tasks, the commissioner may, in his or her discretion, by rule following notice and a public hearing, increase the amounts of the fees, license fees, fines, penalties, and revenues as provided in this subchapter for deposit into the State Insurance Department Trust Fund as special revenues. (c) (1) Further, in his or her discretion the commissioner may establish and collect as special revenues additional or increased fees and penalties not otherwise specified in this subchapter, for direct deposit into the fund as special revenues if the fees and revenues provided by this subchapter are insufficient, in connection with all other revenues appropriated to and funded for the department, to defray all the expenses of the department in the efficient discharge of its administrative and regulatory powers and duties as prescribed by law. (2) Any special revenues and fees established by the commissioner by the authority of this section shall be classified in and meet the criteria of the Category A fees or Category B fees specified by § 23-61-708 . (3) Upon collection by the commissioner, these funds shall be deposited as special revenues directly into the fund. (4) The commissioner may from time to time alter the amounts of the fees specified in the companion rules to this subchapter by amending the rules pursuant to the procedures of the Arkansas Administrative Procedure Act, § 25-15-201 et seq., as necessary to the continued support and operation of the department.

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