Arkansas Statutes
§ 23-71-113 — Insolvency
Arkansas § 23-71-113
JurisdictionArkansas
Title23
This text of Arkansas § 23-71-113 (Insolvency) 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. § 23-71-113 (2026).
Text
(a)From and after January 1, 1968, the capital of a stipulated premium plan insurer shall be deemed to be impaired and the insurer shall be deemed to be insolvent when the insurer is not possessed of assets equal to all liabilities including the reserves set forth in § 23-71-105(a) together with its total issued and outstanding capital stock.
(b)(1) If the Insurance Commissioner finds a stipulated premium plan insurer to be insolvent, the commissioner shall notify the insurer of the insolvency, stating the amount thereof and allowing the insurer a reasonable period of not less than sixty (60) days in which to cure the insolvency.
(2)If the insurer fails to cure the insolvency within the period so allowed by the commissioner, then the commissioner shall immediately revoke its certificate
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Legislative History
Acts 1959, No. 148, §§ 550, 551; 1967, No. 393, § 3; A.S.A. 1947, §§ 66-4411, 66-4412.
Nearby Sections
15
§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
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Bluebook (online)
Arkansas § 23-71-113, Counsel Stack Legal Research, https://law.counselstack.com/statute/ar/23-71-113.