§ 23-63-818. Stocks of subsidiaries
(a) With the Insurance Commissioner’s written approval, a domestic insurer may invest in the stock of its wholly owned subsidiary insurance corporation or in the stock of its wholly owned subsidiary business corporation formed or acquired for and necessary and incidental to: (1) The convenient operation of the domestic insurer’s insurance business; or (2) The […]
§ 23-63-819. Equipment trust certificates
An insurer may invest in equipment trust obligations or certificates adequately secured and evidencing an interest in transportation equipment, wholly or in part within the United States, which obligations or certificates carry the right to receive determined portions of rental, purchase, or other fixed obligatory payments to be made for the use or purchase of […]
§ 23-63-820. Investment trust securities
An insurer may invest in the securities of any management-type investment company or investment trust registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as from time to time amended, if the investment company or trust has been organized for not less than two (2) years and has assets not […]
§ 23-63-821. Policy loans
(a) A life insurer may lend to its policyholder upon pledge of the policy as collateral security any sum not exceeding the cash surrender value of the policy or may lend against pledge or assignment of any of its supplementary contracts or its other contracts or obligations, so long as the loan is adequately secured […]
§ 23-63-822. Collateral loans
(a) An insurer may lend and invest its funds upon the pledge of securities eligible for investment under this subchapter. (b) As at date made, no loan shall exceed in amount ninety percent (90%) of the market value of such collateral pledged. (c) The amount so loaned shall be included pro rata in determining the […]
§ 23-63-823. Savings and loan associations
To the extent that an account does not exceed an amount equal to the sum of all reserve accounts, except specific or valuation reserves, undivided profits, surplus, and capital stock, but not including the proceeds of capital notes, debentures, or similar obligations, an insurer may invest in share or savings accounts of savings or building […]
§ 23-63-824. Foreign securities
(a) An insurer may acquire investments or engage in investment practices with entities or institutions of or in foreign jurisdictions of substantially the same type that an insurer may acquire under this subchapter for investments in the United States if, as a result of and after giving effect to the investment: (1) The aggregate amount […]
§ 23-63-825. Additional investment authority
(a) (1) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this subsection or elsewhere in the Arkansas Insurance Code, or engage in investment practices, without regard to any aggregate limitation in this subchapter, but an insurer shall not admit an investment […]
§ 23-63-826. Real estate mortgages
(a) (1) An insurer may invest any of its funds in bonds, notes, or other evidences of indebtedness which are secured by first mortgages or deeds of trust upon improved real property located in the United States or which are secured by first mortgages or deeds of trust upon leasehold estates having an unexpired term […]
§ 23-63-827. Chattel mortgages
(a) In connection with a mortgage loan on the security of real estate designed and used primarily for residential purposes only, which mortgage loan was acquired pursuant to § 23-63-826, an insurer may lend or invest an amount not exceeding twenty percent (20%) of the amount loaned on or invested in the real estate mortgage […]