2010 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 68 - Rehabilitation And Liquidation Of Insurance Companies
§ 23-68-134 - Priority of distribution of claims -- Legislative intent.

23-68-134. Priority of distribution of claims -- Legislative intent.

It is the intent of the General Assembly that 23-68-126 as amended by this act apply to pending and future claims in existing delinquency proceedings as well as to claims in delinquency proceedings arising after July 2, 1997; that, in light of the ruling of the United States Supreme Court in United States Dep't of the Treasury v. Fabe, 508 U.S. 491 (1993), the General Assembly considers this act to be curative, remedial and not affecting substantive rights in the distribution of assets in delinquency proceedings; that this act is necessary to cure any potential defect in the present priority of distribution scheme that may result from the Fabe decision and to preserve the original intent of the General Assembly with regard to the priorities of payment in delinquency proceedings.