Arkansas § 23-69-410 Sanctions

Arkansas Statutes

§ 23-69-410 — Sanctions

Arkansas § 23-69-410

Title23

This text of Arkansas § 23-69-410 (Sanctions) 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. § 23-69-410 (2026).

Text

(a)An insurer failing without just cause to timely file the own risk and solvency assessment summary report under this subchapter shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay, to be recovered by the Insurance Commissioner, and the penalty so recovered shall be paid into the General Revenue Fund Account of the State Apportionment Fund.

(b)The maximum penalty under this section is ten thousand dollars ($10,000).

(c)The commissioner may reduce the penalty under this section if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.

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(a) An insurer failing without just cause to timely file the own risk and solvency assessment summary report under this subchapter shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay, to be recovered by the Insurance Commissioner, and the penalty so recovered shall be paid into the General Revenue Fund Account of the State Apportionment Fund. (b) The maximum penalty under this section is ten thousand dollars ($10,000). (c) The commissioner may reduce the penalty under this section if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.