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AR SB324
Bill
Status
4/11/2023
Primary Sponsor
Jonathan Dismang
Click for details
AI Summary
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Exempts nonprofit agricultural membership organizations from Arkansas Insurance Code regulations and rules promulgated by the Insurance Commissioner.
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Defines qualifying organizations as those incorporated in Arkansas, operating in every county, promoting farmers' interests, and providing healthcare coverage for members and their families.
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Requires designated ombudsman to address member complaints regarding insurance policies, with the State Insurance Department forwarding complaints to this individual.
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Permits healthcare coverage risks to be reinsured by authorized insurers operating in Arkansas.
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Nonprofit agricultural membership organizations must pay insurance premium tax levies at the same rate as domestic insurers under § 26-57-604.
Legislative Description
To Exempt Certain Nonprofit Agricultural Membership Organizations From Insurance Regulation.
Last Action
Notification that SB324 is now Act 626
4/11/2023