§ 23-63-832 — Special investments by title insurer

Arkansas § 23-63-832

• Jurisdiction: Arkansas
• Title: 23

Text

(a) (1) In addition to other investments eligible under this subchapter, a title insurer may invest and have invested an amount not exceeding fifty percent (50%) of its paid-in capital stock in its abstract plant and equipment and, with the Insurance Commissioner's consent, in stocks of abstract companies. (2) If the insurer transacts kinds of insurance in addition to title insurance, for the purposes of this section, its paid-in capital stock shall be prorated between title insurance and other insurances upon the basis of the reserves maintained by the insurer for the various kinds of insurance. However, the capital so assigned to title insurance shall in no event be less than one hundred thousand dollars ($100,000). (b) Investments authorized by this section shall not be credited against the insurer's required unearned premium or guaranty fund reserve provided under § 23-63-614 .

Legislative History

Acts 1959, No. 148, § 128; A.S.A. 1947, § 66-2632; Acts 1993, No. 527, § 15; 2007, No. 496, § 12.