Arkansas § 23-69-112 Initial qualifications - Domestic mutuals

Arkansas Statutes

§ 23-69-112 — Initial qualifications - Domestic mutuals

Arkansas § 23-69-112

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This text of Arkansas § 23-69-112 (Initial qualifications - Domestic mutuals) 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. § 23-69-112 (2026).

Text

(a)When newly organized, a domestic mutual insurer may be authorized to transact any one (1) of the kinds of insurance listed in §§ 23-62-101 - 23-62-108 .

(b)When applying for an original certificate of authority, the insurer must be otherwise qualified therefor under the Arkansas Insurance Code and must have received and accepted bona fide applications as to substantial insurable subjects for insurance coverage of a substantial character of the kind of insurance proposed to be transacted, must have collected in cash the full premium therefor at an adequate rate approved by the Insurance Commissioner, and must have surplus funds on hand as of the date the insurance coverages are to become effective in amounts equal to or exceeding those surplus funds required of a foreign mutual insurer

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(a) When newly organized, a domestic mutual insurer may be authorized to transact any one (1) of the kinds of insurance listed in §§ 23-62-101 - 23-62-108 . (b) When applying for an original certificate of authority, the insurer must be otherwise qualified therefor under the Arkansas Insurance Code and must have received and accepted bona fide applications as to substantial insurable subjects for insurance coverage of a substantial character of the kind of insurance proposed to be transacted, must have collected in cash the full premium therefor at an adequate rate approved by the Insurance Commissioner, and must have surplus funds on hand as of the date the insurance coverages are to become effective in amounts equal to or exceeding those surplus funds required of a foreign mutual insurer in §§ 23-63-205 and 23-63-207 .