Find Laws Find Lawyers Free Legal Forms USA State Laws

ARKANSAS STATUTES AND CODES

§ 23-66-610 - Commissioner's powers -- Administrative proceedings.

23-66-610. Commissioner's powers -- Administrative proceedings.

(a) The Insurance Commissioner shall have the power to examine and investigate the insurance activities of depository institutions in order to determine whether a depository institution has been or is engaged in any unfair trade practice prohibited by this subchapter.

(b) The commissioner shall notify the appropriate bank regulatory agency of the commissioner's intent to examine or investigate a depository institution and advise the appropriate bank regulatory agency of the suspected violations of state law prior to commencing the examination or investigation.

(c) Administrative proceedings for persons not in compliance with this subchapter shall be held in accord with the procedures of 23-66-209 -- 23-66-213, subject to the following limitations or conditions:

(1) (A) If the person being investigated by the commissioner under subsection (a) of this section is a depository institution, the commissioner's authority to call a hearing for suspected violations of this subchapter is limited to the depository institution's insurance underwriting, sales, solicitation, and cross-marketing activities.

(B) The commissioner shall provide a copy of the notice of hearing to the appropriate bank regulatory agency when a depository institution is involved;

(2) If the person being investigated by the commissioner under subsection (a) of this section is a depository institution, the commissioner shall have the power to require the depository institution to produce books, papers, records, correspondence, or other documents that the commissioner deems relevant only to the inquiry regarding the insurance activities of the depository institution; and

(3) If practicable, the commissioner shall:

(A) Notify the appropriate bank regulatory agency before imposing a monetary penalty on a depository institution or suspending or revoking the depository institution's insurance license; and

(B) Provide to the appropriate bank regulatory agency a copy of the findings.

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