§ 23-84-119 — Single-state exemption

Arkansas § 23-84-119

• Jurisdiction: Arkansas
• Title: 23

Text

(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.

Legislative History

Amended by Act 2023, No. 469,§ 13, eff. 8/1/2023. Added by Act 2015, No. 1223,§ 45, eff. 7/22/2015.