§ 23-70-122 - Subscribers' share in assets. - Arkansas Statutes

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23-70-122. Subscribers' share in assets.

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in 23-70-112, and the return of any unused premium, savings, or credits then standing on subscribers' accounts, shall be distributed to its subscribers who were subscribers within the twelve (12) months prior to the last termination of its certificate of authority, according to such reasonable formula as the Insurance Commissioner may approve.

State Codes and Statutes

Statutes > Arkansas > Title-23 > Subtitle-3 > Chapter-70 > 23-70-122

23-70-122. Subscribers' share in assets.

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in 23-70-112, and the return of any unused premium, savings, or credits then standing on subscribers' accounts, shall be distributed to its subscribers who were subscribers within the twelve (12) months prior to the last termination of its certificate of authority, according to such reasonable formula as the Insurance Commissioner may approve.

State Codes and Statutes

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State Codes and Statutes

Statutes > Arkansas > Title-23 > Subtitle-3 > Chapter-70 > 23-70-122

23-70-122. Subscribers' share in assets.

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in 23-70-112, and the return of any unused premium, savings, or credits then standing on subscribers' accounts, shall be distributed to its subscribers who were subscribers within the twelve (12) months prior to the last termination of its certificate of authority, according to such reasonable formula as the Insurance Commissioner may approve.