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Current as of March 28, 2024 | Updated by Findlaw Staff
(a) For the purpose of the Arkansas Insurance Code, except as provided under § 23-68-102(6), the domicile of an alien insurer, other than insurers formed under the laws of Canada, shall be that state designated by the insurer in writing filed with the Insurance Commissioner at time of admission to this state or within six (6) months after June 11, 1959, whichever date is the later, and may be any one (1) of the following states:
(1) That in which the insurer was first authorized to transact insurance;
(2) That in which is located the insurer's principal place of business in the United States; or
(3) That in which is held the larger deposit of trusteed assets of the insurer for the protection of its policyholders, or policyholders and creditors, in the United States.
(b) If the insurer makes no designation, its domicile shall be deemed to be that state in which is located its principal place of business in the United States.
Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-63-104. Alien insurer's domicile - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-63-104/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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