§ 23-63-1702 - Purpose. - Arkansas Statutes

23-63-1702. Purpose.

This subchapter provides:

(1) A basis for the creation of protected cells by a domestic insurer as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization;

(2) Funds to investors in fully funded insurance securitization transactions that are available to pay the insurer's insurance obligations or to repay the investors, or both; and

(3) A means to achieve more efficiencies in conducting insurance securitizations.