Arkansas Code of 1987 (2023)
Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105)
Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417)
Chapter 84 - STANDARD VALUATION LAW FOR LIFE INSURANCE AND ANNUITIES (§§ 23-84-101 — 23-84-119)
Section 23-84-119 - Single-state exemption

• (a) The Insurance Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this state from the requirements of §§ 23-84-115 - 23-84-117 if:
  • (1) The commissioner has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and
  • (2) The company computes reserves using assumptions and methods used before the operative date of the valuation manual in addition to any requirements established by the commissioner.

• (b) If a company is granted an exemption under subsection (a) of this section:
  • (1) Sections 23-84-103 - 23-84-114 apply to the company; and
  • (2) Any reference to § 23-84-115 found in §§ 23-84-103 - 23-84-112 and 23-84-114 do not apply to the company.

Amended by Act 2023, No. 469,§ 13, eff. 8/1/2023.

Added by Act 2015, No. 1223,§ 45, eff. 7/22/2015.