Ark. Code Ann. § 23-84-119: Single-state exemption

(a) The Insurance Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this state from the requirements of §§ 23-84-115 - 23-84-117 if: (1) The commissioner has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and (2) The company computes reserves using assumptions and methods used before the operative date of the valuation manual in addition to any requirements established by the commissioner. (b) If a company is granted an exemption under subsection (a) of this section: (1) Sections 23-84-103 - 23-84-114 apply to the company; and (2) Any reference to § 23-84-115 found in §§ 23-84-103 - 23-84-112 and 23-84-114 do not apply to the company. Amended by Act 2023, No. 469,§ 13, eff. 8/1/2023. Added by Act 2015, No. 1223,§ 45, eff. 7/22/2015.

(a) The Insurance Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this state from the requirements of §§ 23-84-115 - 23-84-117 if: (1) The commissioner has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and (2) The company computes reserves using assumptions and methods used before the operative date of the valuation manual in addition to any requirements established by the commissioner.

(1) The commissioner has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and

(2) The company computes reserves using assumptions and methods used before the operative date of the valuation manual in addition to any requirements established by the commissioner.

(b) If a company is granted an exemption under subsection (a) of this section: (1) Sections 23-84-103 - 23-84-114 apply to the company; and (2) Any reference to § 23-84-115 found in §§ 23-84-103 - 23-84-112 and 23-84-114 do not apply to the company.

(1) Sections 23-84-103 - 23-84-114 apply to the company; and

(2) Any reference to § 23-84-115 found in §§ 23-84-103 - 23-84-112 and 23-84-114 do not apply to the company.