§ 23-63-1310 - Supplemental provisions -- Rules -- Exemption. - Arkansas Statutes

23-63-1310. Supplemental provisions -- Rules -- Exemption.

A. The provisions of this subchapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the Insurance Commissioner under such laws, including, but not limited to, 23-68-101 et seq.

B. The commissioner may adopt reasonable rules necessary for the implementation of this subchapter.

C. The commissioner may exempt from the application of this subchapter any domestic insurer licensed to do business in this state which:

(1) Writes direct business only in this state; and

(2) Writes direct annual premiums of $2,000,000 or less; and

(3) Assumes no reinsurance in excess of five percent (5%) of direct premium written.

D. The commissioner may exempt from the application of this subchapter any of the following entities:

(1) Hospital and/or medical service corporations;

(2) Fraternal benefit societies; or

(3) Farmer's mutual aid associations.