Arkansas Statutes
§ 23-84-119 — Single-state exemption
Arkansas·Title 23
(a)The Insurance Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this state from the requirements of §§ 23-84-115 - 23-84-117 if:
(1)The commissioner has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and (2) The company computes reserves using assumptions and methods used before the operative date of the valuation manual in addition to any requirements established by the commissioner.
(b)If a company is granted an exemption under subsection (a) of this section:
(1)Sections 23-84-103 - 23-84-114 apply to the company; and (2) Any reference to § 23-84-115 found in §§ 23-84-103 - 23-84-112 and 23-84-114 do not apply to the company.
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Legislative History
Amended by Act 2023, No. 469,§ 13, eff. 8/1/2023. Added by Act 2015, No. 1223,§ 45, eff. 7/22/2015.
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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