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AR SB206
Bill
Status
Passed
2/26/2013
Primary Sponsor
Jeremy Hutchinson
Click for details
AI Summary
- Amends Arkansas Code § 23-65-320 to remove the requirement that domestic surplus lines insurers be subject to the surplus lines premium tax
- Clarifies that domestic surplus lines insurers are deemed nonadmitted insurers in Arkansas and under the Dodd-Frank Wall Street Reform and Consumer Protection Act
- Requires surplus lines brokers obtaining insurance from domestic surplus lines insurers to comply with § 23-65-315
- Maintains that financial and solvency requirements of Arkansas Insurance Code apply to domestic surplus lines insurers unless specifically exempted by law
Legislative Description
To Clarify The Responsibility For Remitting Premium Taxes Applicable To Domestic Surplus Lines Insurance Companies.
Last Action
Notification that SB206 is now Act 157
2/26/2013
Committee Referrals
Insurance and Commerce2/13/2013
Insurance & Commerce1/30/2013
Full Bill Text
No bill text available