§ 23-63-801. Applicability
Except as to § 23-63-835, the provisions of this subchapter shall apply to domestic insurers only.
§ 23-63-802. Eligible investments
(a) Insurers shall invest in, or lend their funds on the security of, and shall hold as invested assets only eligible investments as prescribed in this subchapter. (b) Any particular investment held by an insurer on January 1, 1960, and which was a legal investment at the time it was made, or which the insurer […]
§ 23-63-803. General qualifications
(a) Without prior written approval of the Insurance Commissioner, no security or investment, other than real and personal property acquired under § 23-63-828, concerning real estate, shall be eligible for acquisition unless it is interest-bearing, with the accrued interest being paid annually or more frequently than annually, or dividend or income-paying, or is held for […]
§ 23-63-804. Authorization of investment
(a) An insurer shall not make any investment or loan, other than policy loans or annuity contract loans of a life insurer, unless the insurer is authorized or approved by the insurer’s board of directors or by a committee authorized by the board and charged with the supervision or making of the investment or loan. […]
§ 23-63-805. Diversification of investments
An insurer shall invest in or hold as admitted assets categories of investments only within applicable limits as follows: (1) One Person. (A) (i) (a) Except with the consent of the Insurance Commissioner and except as otherwise specified in this subchapter, an insurer shall not have, directly or indirectly through an investment subsidiary, an investment […]
§ 23-63-806. United States Government obligations
An insurer may invest in bonds, notes, warrants, and other evidences of indebtedness which are direct obligations of the United States or for which the full faith and credit of the United States is pledged for the payment of principal and interest.
§ 23-63-807. Loans guaranteed by United States
An insurer may invest in loans guaranteed as to principal and interest by the United States, or by any agency or instrumentality of the United States, to the extent of the guaranty.
§ 23-63-808. Investments in public obligations
(a) An insurer may invest in bonds or other evidences of indebtedness which are general obligations of, or are secured by pledge of specific revenue by, this state or any other state of the United States, or any of the counties or incorporated cities or towns, or duly organized school districts or other taxing districts […]
§ 23-63-809. Municipal or county utilities
An insurer may invest in bonds, notes, or evidences of indebtedness of any municipal or county utility within the United States or Canada, which are payable from revenues or earnings specifically pledged for the payment of the principal and interest on the obligations, and for the payment of which a lawful sinking fund or reserve […]
§ 23-63-810. Improvement district obligations
(a) An insurer may invest in bonds, notes, or evidences of indebtedness issued by any local improvement district in this or any other state to finance local improvements authorized by law if the principal and interest of the obligations is payable from assessments on real property within the local improvement district. (b) No investment shall […]
§ 23-63-811. Local industrial development bonds
An insurer may invest in the negotiable first-lien bonds issued by local industrial development corporations organized under the Arkansas Industrial Development Act, § 15-4-101 et seq.
§ 23-63-812. Obligations or stock of certain federal agencies
An insurer may invest in the obligations, or stock where stated, of the following agencies of the United States Government, whether or not the obligations are guaranteed by the government: (1) Commodity credit corporation; (2) Notes, bonds, debentures, or other similar obligations issued by the Federal Land Banks, Federal Intermediate Credit Banks, or Banks for […]
§ 23-63-813. International banks
Any insurer may invest in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, or the African Development Bank.
§ 23-63-814. Corporate bonds and debentures
(a) An insurer may invest in bonds, debentures, notes, and other evidences of indebtedness issued, assumed, or guaranteed by any solvent institution existing under the laws of the United States or of Canada, or any state or province thereof, which are not in default as to principal or interest and which are secured by collateral […]
§ 23-63-815. Preferred or guaranteed stock
(a) An insurer may invest in preferred or guaranteed stocks or shares of any solvent institution existing under the laws of the United States or of Canada, or of any state or province thereof, if at the date of the acquisition of the investment by the insurer: (1) The net earnings of the institution available […]
§ 23-63-816. Common stocks
An insurer may invest in nonassessable, except for taxes and wages, common stocks other than insurance stocks of solvent United States or Canadian corporations that qualify as a sound investment.
§ 23-63-817. Insurance stocks
(a) An insurer may invest in the stocks of other solvent insurers formed under the laws of this or another state if the stocks meet the applicable requirements of § 23-63-815 as to preferred or guaranteed stock or § 23-63-816 as to common stock, and, with the advance consent of the Insurance Commissioner, an insurer […]
§ 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 […]