§ 23-63-504 - Applicability. - Arkansas Statutes

23-63-504. Applicability.

(a) It is found and declared that the provisions of this subchapter are unnecessary and undesirable insofar as domestic insurers or domestic holding company systems, authorized and doing business solely in this state and which are not affiliated with a foreign or alien insurer, are concerned.

(b) Therefore, notwithstanding other provisions in this subchapter to the contrary, this subchapter shall not apply, in any manner, to any domestic insurer or domestic holding company system authorized and doing business solely in this state and which is not affiliated with a foreign or alien insurer. However, such domestic insurers or domestic holding company systems which subsequently become authorized or approved to do business in other states or jurisdictions shall, not later than sixty (60) days from the effective date of such authorization or approval, register with the Insurance Commissioner in compliance with 23-63-514, and thereafter as provisions of this subchapter require.