Arkansas § 23-63-614 Domestic title insurance and aviation title insurance reserves

Arkansas Statutes

§ 23-63-614 — Domestic title insurance and aviation title insurance reserves

Arkansas § 23-63-614

Title23

This text of Arkansas § 23-63-614 (Domestic title insurance and aviation title insurance reserves) 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. § 23-63-614 (2026).

Text

(a)In addition to an adequate reserve as to outstanding losses, a domestic title insurer shall maintain its own guaranty fund or unearned premium reserve of no less than ten percent (10%) of the total amount of the risk premium written in the calendar year for title insurance contracts, which shall be assigned originally to the reserve.

(b)(1) During each of the twenty (20) years after the year in which a title insurance contract was issued, the reserve applicable to the contract may be reduced by five percent (5%) of the original amount of the reserve.

(2)This section does not apply to foreign or alien title or aviation title insurers licensed in this state.

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(a) In addition to an adequate reserve as to outstanding losses, a domestic title insurer shall maintain its own guaranty fund or unearned premium reserve of no less than ten percent (10%) of the total amount of the risk premium written in the calendar year for title insurance contracts, which shall be assigned originally to the reserve. (b) (1) During each of the twenty (20) years after the year in which a title insurance contract was issued, the reserve applicable to the contract may be reduced by five percent (5%) of the original amount of the reserve. (2) This section does not apply to foreign or alien title or aviation title insurers licensed in this state.