Arkansas § 23-68-121 Disposition of moneys collected

Arkansas Statutes

§ 23-68-121 — Disposition of moneys collected

Arkansas § 23-68-121

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This text of Arkansas § 23-68-121 (Disposition of moneys collected) 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. § 23-68-121 (2026).

Text

(a)The moneys collected by the Insurance Commissioner in a proceeding under this chapter shall be from time to time deposited into one (1) or more state or national banks, savings banks, or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state.

(b)The commissioner may in his or her discretion deposit such moneys or any part thereof in a national bank or trust company as a trust fund.

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(a) The moneys collected by the Insurance Commissioner in a proceeding under this chapter shall be from time to time deposited into one (1) or more state or national banks, savings banks, or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state. (b) The commissioner may in his or her discretion deposit such moneys or any part thereof in a national bank or trust company as a trust fund.