{"data":{"id":"us-ar/ark.-code-ann.-23-69-131","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-69-131","heading":"Unauthorized dividends prohibited","body":"(a) Any director of a domestic stock or mutual insurer who votes for or concurs in the declaration or payment of a dividend, other than as authorized under § 23-69-129 or § 23-69-130 , to stockholders or members shall upon conviction be guilty of a Class A misdemeanor and shall be jointly and severally liable, together with other directors likewise voting for or concurring, for any loss sustained by the insurer.\n\n(b) Any stockholder receiving such a dividend shall be liable in the amount thereof to the insurer.\n\n(c) The Insurance Commissioner may revoke or suspend the certificate of authority of an insurer which has declared or paid a dividend other than as so authorized.","path":["AR Code","Title 23","Chapter 69","Subchapter 1"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"7e3a5b30df5293166d92fbdd393b5afbb4ccae986f23131aa247d30c8be881ea","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-69-130","next":"us-ar/ark.-code-ann.-23-69-132"},"notice":"GroundRules: Original legal text. Not legal advice."}