Arkansas § 23-97-305 Requirements for associations

Arkansas Statutes

§ 23-97-305 — Requirements for associations

Arkansas § 23-97-305

Title23

This text of Arkansas § 23-97-305 (Requirements for associations) 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. § 23-97-305 (2026).

Text

(a)Prior to advertising, marketing, or offering a policy within this state, an association or the insurer of the association shall file evidence with the Insurance Commissioner that the association has:

(1)A minimum of one hundred (100) persons;

(2)Been organized and maintained in good faith for purposes other than that of obtaining insurance;

(3)Been in active existence for at least one (1) year; and (4) Had a constitution and bylaws providing that:

(A)The association holds regular meetings not less than annually to further purposes of the members;

(B)Except for credit unions, the association collects dues or solicits contributions from members; and (C) The members have voting privileges and representation on the governing board and committees.

(b)Thirty (30) days after the filing,

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(a) Prior to advertising, marketing, or offering a policy within this state, an association or the insurer of the association shall file evidence with the Insurance Commissioner that the association has: (1) A minimum of one hundred (100) persons; (2) Been organized and maintained in good faith for purposes other than that of obtaining insurance; (3) Been in active existence for at least one (1) year; and (4) Had a constitution and bylaws providing that: (A) The association holds regular meetings not less than annually to further purposes of the members; (B) Except for credit unions, the association collects dues or solicits contributions from members; and (C) The members have voting privileges and representation on the governing board and committees. (b) Thirty (30) days after the filing, the association or associations will be deemed to satisfy the organizational requirements unless the commissioner makes a finding that the association or associations do not satisfy those organizational requirements.