GroundRules
Ark. Code Ann. § 23-69-410: Sanctions
Where this section sits in the code
- AR Code
- Title 23
- Chapter 69
- Subchapter 4
(a) An insurer failing without just cause to timely file the own risk and solvency assessment summary report under this subchapter shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay, to be recovered by the Insurance Commissioner, and the penalty so recovered shall be paid into the General Revenue Fund Account of the State Apportionment Fund.
(b) The maximum penalty under this section is ten thousand dollars ($10,000).
(c) The commissioner may reduce the penalty under this section if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
Collected 2026-09-17T21:35:43Z. Source file · JSON
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Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source