(a) (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office. (2) All other assets so deposited shall be transferred or conveyed to the commissioner. (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer. (b) The commissioner may, in his or her discretion, prior to acceptance for deposit of any security or asset, or at any time thereafter while so deposited, have the security or asset appraised or valued by competent appraisers. The reasonable costs of the appraisal or valuation shall be borne by the insurer. Acts 1959, No. 148, § 137; A.S.A. 1947, § 66-2706. (a) (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office. (2) All other assets so deposited shall be transferred or conveyed to the commissioner. (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer. (b) The commissioner may, in his or her discretion, prior to acceptance for deposit of any security or asset, or at any time thereafter while so deposited, have the security or asset appraised or valued by competent appraisers. The reasonable costs of the appraisal or valuation shall be borne by the insurer. Acts 1959, No. 148, § 137; A.S.A. 1947, § 66-2706. (a) (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office. (2) All other assets so deposited shall be transferred or conveyed to the commissioner. (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer. (b) The commissioner may, in his or her discretion, prior to acceptance for deposit of any security or asset, or at any time thereafter while so deposited, have the security or asset appraised or valued by competent appraisers. The reasonable costs of the appraisal or valuation shall be borne by the insurer. Acts 1959, No. 148, § 137; A.S.A. 1947, § 66-2706. (a) (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office. (2) All other assets so deposited shall be transferred or conveyed to the commissioner. (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer. (1) All securities not negotiable by delivery and deposited by an insurer, other than under § 23-81-130 , shall be assigned to the Insurance Commissioner and his or her successors in office. (2) All other assets so deposited shall be transferred or conveyed to the commissioner. (3) Upon release of any security or asset to the insurer, the commissioner shall reassign, transfer, or reconvey the asset or security to the insurer. (b) The commissioner may, in his or her discretion, prior to acceptance for deposit of any security or asset, or at any time thereafter while so deposited, have the security or asset appraised or valued by competent appraisers. The reasonable costs of the appraisal or valuation shall be borne by the insurer. Acts 1959, No. 148, § 137; A.S.A. 1947, § 66-2706.
‹ Prev All Arkansas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.