There is a newer version
of
this Section
2017 Arkansas Code
Title 8 - Environmental Law
Chapter 7 - Hazardous Substances
Subchapter 8 - Regulated Substance Storage Tanks
§ 8-7-810. Insurance pools
Universal Citation: AR Code § 8-7-810 (2017)
- (a) Owners or operators of storage tanks who are unable to demonstrate financial responsibility in the minimum amounts specified by the Arkansas Department of Environmental Quality may establish an insurance pool in order to demonstrate such financial responsibility.
- (b)
- (1) The formation and operation of an insurance pool under this section shall be subject to approval by the Insurance Commissioner, who shall, after notice and hearing, establish through rules and regulations a method for approval and monitoring of such pools.
- (2) Such regulations may include:
- (A) Provisions for periodic examinations of financial condition, including inspection of books, papers, accounts, and affairs of the plan;
- (B) Conditions for participation in the plan;
- (C) Minimum amounts of cash reserves and insurance coverage to be acquired;
- (D) Requirements for sound management of the plan;
- (E) Grounds for suspension or withdrawal of approval of the plan; and
- (F) Grounds for termination of the plan.
Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
