Ark. Code Ann. § 23-69-102: Definitions

As used in §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 , unless the context otherwise requires:

(1) A "stock" insurer is an incorporated insurer with capital divided into shares and owned by its stockholders; and

(2) A "mutual" insurer is an incorporated insurer without permanent capital stock and the governing body of which is elected as provided in §§ 23-69-101 - 23-69-103 , 23-69-105 - 23-69-141 , 23-69-143 , and 23-69-149 - 23-69-156 .