Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-90-108. Powers and duties of advisory association

(a)(1) The Arkansas Property and Casualty Advisory Association shall advise and counsel with the Insurance Commissioner upon matters relating to the solvency of insurers.

(2) The commissioner may call a meeting of the association when a court of competent jurisdiction determines that an insurer is insolvent and may call a meeting of the association when he or she determines that a danger of insolvency of an insurer exists.

(3) Upon majority vote, the association shall notify the commissioner of any information indicating that an insurer may be unable or potentially unable to fulfill its contractual obligations and request a meeting with the commissioner.

(4) At the meetings, the commissioner may divulge to the association any information in his or her possession and any records of the State Insurance Department, including examination reports or preliminary reports from examiners relating to the insurer.

(5) The commissioner may summon officers, directors, and employees of an insolvent insurer, or an insurer the commissioner considers to be in danger of insolvency, to appear before the association for conference or for the taking of testimony.

(6) Members of the association shall not reveal information received in the meetings to anyone unless authorized by the commissioner or when required as witness in court.