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Current as of March 28, 2024 | Updated by Findlaw Staff
The Insurance Commissioner shall refuse to continue or shall suspend or revoke the certificate of authority of any such insurer for any of the following causes:
(1) If, during the preceding calendar year, the insurer scaled and reduced its accrued beneficial claims by reason of insufficient yield of assessment or revenues;
(2) If the insurer has exceeded its powers;
(3) If the insurer has surplus of less than ten thousand dollars ($10,000) or has fewer than two thousand (2,000) members regularly paying their assessments; or
(4) For other causes specified in §§ 23-63-212 and 23-63-213.
Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-72-106. Certificate of authority--Suspension or revocation - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-72-106/
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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