Ark. Code Ann. » Title 23 Chapter 90
Arkansas Code Annotated

Ark. Code Ann. § 23-90-102 (2026)

Purpose

✓ current as of May 2026
Find cases: SyfertCases citing this section JustiaArk. Code CornellLII Search CasesGoogle Scholar

This chapter is for the purpose of providing funds in addition to assets of insolvent insurers for the protection of the holders of covered claims as defined in § 23-90-103 through payment and through contracts of reinsurance or assumption of liabilities or of substitution or otherwise.

History. Acts 1977, No. 871, § 2; A.S.A. 1947, § 66-5502.

Case Notes

Guaranty Fund.

The Guaranty Fund is designed to protect individuals, not pay double benefits. Orren v. Smackover Nursing Home, 46 Ark. App. 38, 876 S.W.2d 600 (1994).

Insured was not entitled to have the state's Guaranty Fund pay the claims against it based on the fact that the insurance company of the insured was insolvent since the insured's claims were not “covered claims”; for a claim to be covered, Arkansas law required that the insured and its affiliate not have a net worth exceeding $ 50 million, but the insured admitted that the net worth of the Nevada corporation that had purchased all of the insured's stock exceeded that amount and the Nevada corporation's control of all of the insured's stock meant the Nevada corporation was an “affiliate” whose net worth was properly counted in determining the insured's total net worth. Harold Ives Trucking Co. v. Pickens, 355 Ark. 407, 139 S.W.3d 471 (2003).

Holders of Claims.

A foreign corporation which has its principal place of business elsewhere but which established a substantial presence in Arkansas is not considered a resident, as that term is used in § 23-90-103(2)(A), for the purposes of this subchapter. Douglass v. Levi Strauss & Co., 315 Ark. 380, 868 S.W.2d 70 (1993).

Notes of Decisions
Cited in 3 cases, 1993–2003 · leading case: Harold Ives Trucking Co. v. Pickens, 139 S.W.3d 471 (Ark. 2003).
Sort: Relevance Newest Treatment
Harold Ives Trucking Co. v. Pickens, 139 S.W.3d 471 (Ark. 2003). · cites it 2× “” See § 23-90-102. A “covered claim,” for purposes of this Act, is “an unpaid claim.”
Orren v. Smackover Nursing Home & Arkansas Guar. Fund, 876 S.W.2d 600 (Ark. Ct. App. 1994). · cites it 3× “First, the purpose of the Guaranty Act as set forth in A.C.A. § 23-90-102 is to provide funds to pay claims of insolvent insurers.”
Douglass v. Levi Strauss & Co., 868 S.W.2d 70 (Ark. 1993). “” Its purpose, declared in § 23-90-102, is to provide funds in addition to assets of insolvent insurers for the protection of “covered claims” against such insurers which would otherwise go unpaid.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.