§ 23-63-908 - Excess deposits. - Arkansas Statutes

23-63-908. Excess deposits.

(a) An insurer may so deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under the Arkansas Insurance Code by not more than twenty percent (20%) of the required or permitted deposit or one hundred thousand dollars ($100,000), whichever is the larger amount, for the purpose of absorbing fluctuations in the value of securities and assets deposited and to facilitate the exchange and substitution of such securities and assets.

(b) (1) During the solvency of the insurer, any excess shall be released to the insurer upon its request.

(2) During the insolvency of the insurer, the excess deposit shall be released only as provided in 23-63-911(b)(3).