Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of March 28, 2024 | Updated by FindLaw Staff
(a)(1) If a surplus lines broker fails to file his or her quarterly statement by the due dates in § 23-65-314, he or she shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the due date.
(2) The Insurance Commissioner may grant a reasonable extension of time within which the statement may be filed for good cause shown and after a written request.
(3) The fine may be recovered by an action instituted by the commissioner in any court of competent jurisdiction.
(4) The commissioner shall pay to the Treasurer of State any fine so collected.
(b)(1) If a surplus lines broker fails to remit the tax as provided by law by the due date, the surplus lines broker shall be liable for a fine of fifty dollars ($50.00) for each day of delinquency commencing with the sixty-first day after the end of the month in which surplus lines insurance was procured.
(2) The commissioner shall pay to the Treasurer of State any fine so collected.
Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-65-316. Penalty for failure to file quarterly statement or remit tax - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-65-316/
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 or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)