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Ark. Code Ann. § 23-81-136

Registered life insurance policies and annuity contracts — Deficiency of deposit

Acts 1959, No. 148, § 343; A.S.A. 1947, § 66-3334.

(1) If at any time the value of the securities and assets held on deposit as to a particular insurer under § 23-81-130 is less than the actual value of the registered policies and annuity bonds or contracts issued by the insurer and then in force, the Insurance Commissioner shall not execute the certificate on any additional policies, annuity bonds, or contracts of the insurer until it shall have made good the deficit.

(2) In the event of any deficiency in its deposit, the insurer shall also be subject to the provisions of § 23-63-910(b).

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.