§ 23-63-104 — Domicile of alien insurer

(a) For the purpose of the Arkansas Insurance Code, except as provided under § 23-68-102(6) , the domicile of an alien insurer, other than insurers formed under the laws of Canada, shall be that state designated by the insurer in writing filed with the Insurance Commissioner at time of admission to this state or within six (6) months after June 11, 1959, whichever date is the later, and may be any one (1) of the following states: (1) That in which the insurer was first authorized to transact insurance; (2) That in which is located the insurer's principal place of business in the United States; or (3) That in which is held the larger deposit of trusteed assets of the insurer for the protection of its policyholders, or policyholders and creditors, in the United States. (b) If the insurer makes no designation, its domicile shall be deemed to be that state in which is located its principal place of business in the United States.

Legislative History

Acts 1959, No. 148, § 67; A.S.A. 1947, § 66-2225.