Arkansas § 23-63-1510 Foreign health organizations

Arkansas Statutes

§ 23-63-1510 — Foreign health organizations

Arkansas § 23-63-1510

Title23

This text of Arkansas § 23-63-1510 (Foreign health organizations) 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. § 23-63-1510 (2026).

Text

(a)(1) On the written request of the Insurance Commissioner, a foreign health organization shall submit to the Insurance Commissioner an RBC report as of the end of the calendar year just ended that is the later of:

(A)The date an RBC report would be required to be filed by a domestic health organization under this subchapter; or (B) Fifteen (15) days after the request is received by the foreign health organization.

(2)At the written request of the Insurance Commissioner, a foreign health organization shall promptly submit to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state.

(b)In the event of a company action level event, regulatory action level event, or authorized control level event with respect to a foreign health organizatio

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(a) (1) On the written request of the Insurance Commissioner, a foreign health organization shall submit to the Insurance Commissioner an RBC report as of the end of the calendar year just ended that is the later of: (A) The date an RBC report would be required to be filed by a domestic health organization under this subchapter; or (B) Fifteen (15) days after the request is received by the foreign health organization. (2) At the written request of the Insurance Commissioner, a foreign health organization shall promptly submit to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state. (b) In the event of a company action level event, regulatory action level event, or authorized control level event with respect to a foreign health organization as determined under the RBC statute applicable in the state of domicile of the health organization or, if no RBC statute is in force in that state, under this subchapter, if the insurance commissioner of the state of domicile of the foreign health organization fails to require the foreign health organization to file an RBC plan in the way specified under that state's RBC statute or, if no RBC statute is in force in that state, under § 23-63-1503 the Insurance Commissioner may require the foreign health organization to file an RBC plan with the Insurance Commissioner. In this event, the failure of the foreign health organization to file an RBC plan with the Insurance Commissioner shall be grounds to order the health organization to cease and desist from writing new insurance business in this state. (c) In the event of a mandatory control level event with respect to a foreign health organization, if no domiciliary receiver has been appointed with respect to the foreign health organization under the rehabilitation and liquidation statutes applicable in the state of domicile of the foreign health organization, the Insurance Commissioner may make application under the Uniform Insurers Liquidation Act, §§ 23-68-101 , 23-68-102(2) -(13), 23-68-104 , 23-68-105 , 23-68-113 , and 23-68-115 - 23-68-120 , with respect to the liquidation of property of foreign health organizations found in this state, and the occurrence of the mandatory control level event is considered adequate grounds for the application.