Find Laws Find Lawyers Free Legal Forms USA State Laws

ARKANSAS STATUTES AND CODES

§ 23-63-803 - General qualifications.

23-63-803. General qualifications.

(a) Without prior written approval of the Insurance Commissioner, no security or investment, other than real and personal property acquired under 23-63-828, concerning real estate, shall be eligible for acquisition unless it is interest-bearing, with the accrued interest being paid annually or more frequently than annually, or dividend or income-paying, or is held for income purposes, is not then in default in any respect, and the insurer is entitled to receive for its exclusive account and benefit the interest or income accruing thereon.

(b) No provision of this subchapter shall prohibit the acquisition by an insurer of other or additional securities or property if received as a dividend or as a lawful distribution of assets, or under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation. Any investment so acquired which is not otherwise eligible under this subchapter shall be disposed of pursuant to 23-63-830 if personal property or securities, or pursuant to 23-63-829 if real property.

Arkansas Forms by Issue

Arkansas Appeals Forms
Arkansas Auto Accident Forms
Arkansas Child Support Agency Forms
Arkansas Court Forms
> Substance Abuse
Arkansas Divorce Forms
Arkansas Family Forms
Arkansas Tax Forms

Arkansas Law

Arkansas State Laws
    > Arkansas Child Support
    > Arkansas Gun Laws
    > Arkansas Statute
Arkansas State
    > Arkansas State Parks
Arkansas Tax
    > Arkansas State Tax
Arkansas Agencies
    > Arkansas Department of Corrections
    > Arkansas Department of Education
    > Arkansas Federal Credit Union
    > Arkansas Secretary of State
    > Arkansas State Police

Arkansas Court Map

Tips