2010 Arkansas Code
23-72-116. Pro rata plan insurer -- Reclassification and rearrangement of members.
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 72 - Mutual Assessment Life and Disability Insurers
§ 23-72-116 - Pro rata plan insurer -- Reclassification and rearrangement of members.
A pro rata assessment plan insurer has power at any time to reclassify, transfer, or rearrange its members, to merge or unite circles or groups; and to unite into one (1) group or circle two (2) or more groups or circles, the membership of which has decreased below the maximum. The insurer shall not start a new group or circle so long as any other group or circle is not up to maximum. All groups and circles shall be kept up to the maximum.
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