054.00.08 Ark. Code R. § 001 - Rule 93: Noninsurance Subsidiary
The purpose of Rule 93 is to define the term "Noninsurance Subsidiary," a term that was introduced in Section 11 of Act 496 of 2007 without definition. Section 11 is codified at Ark. Code Ann. § 23-63-818(c).
This Rule is issued under the authority vested in the Commissioner by Ark. Code Ann. § 23-61-108, the Arkansas Administrative Procedure Act, codified at Ark. Code Ann. §§ 25-15-201 et seq., and Ark. Code Ann. § 23-63-818, as amended by Act 496 of 2007. The information called for by this Rule is hereby declared to be necessary and appropriate in the public interest and for the protection of insurance consumers in this State.
"Noninsurance subsidiary" means a corporation or other entity in
which an
Any section or provision of this Rule held by the court to be invalid or unconstitutional will not affect the validity of any other section or provision.
The effective date of this Rule is May 15, 2008.
(signed by Julie Benafield Bowman)
___________________________
JULIE BENAFIELD BOWMAN
INSURANCE COMMISSIONER
STATE OF ARKANSAS
(April 14, 2008)
____________________
DATE
Notes
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