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2017 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 75 - Hospital and Medical Service Corporations
§ 23-75-115. Use of surplus
Universal Citation: AR Code § 23-75-115 (2017)
- Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown:
- (1) To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, or other similar institutions or persons, upon the settlement of bills with the corporation in any previous years;
- (2) To return the original working capital contribution to the corporation, or any part thereof, on a pro rata basis; and
- (3) To reduce rates charged subscribers or to expand the services rendered to them.
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