Ark. Code Ann. » Title 23 Chapter 63
Arkansas Code Annotated

Ark. Code Ann. § 23-63-525 (2020)

Acquisitions involving insurers not otherwise covered — Definitions

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The following definitions shall apply for the purposes of §§ 23-63-525 — 23-63-530 only:

  1. “Acquisition” means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes, but is not limited to, the acquisition of voting securities, the acquisition of assets, bulk reinsurance, and mergers; and
  2. An “involved insurer” includes an insurer which either acquires or is acquired, is affiliated with an acquirer or acquired, or is the result of a merger.

History. Acts 1991, No. 723, § 29.

Publisher's Notes. Acts 1991, No. 723, § 30, provided:

“Compliance with Sections 20 through 29 of this act shall be required on and after January 1, 1992.”