HB1714 Summary

• Amends Arkansas Code § 23-92-101(c)(3) regarding requirements for multiple employer trusts and welfare arrangements that are not fully insured

• Allows associations sponsoring multiple employer welfare arrangements to establish reserves through either a cash deposit or a line of credit used as a cash reserve

• Exempts associations from disclosing the address of a trust agreement trustee to the public if that trustee is not the designated plan administrator

• Removes the requirement that an association be organized and in active existence for more than one year if it has at least one substantial business purpose other than obtaining or providing insurance