(a) There is created a nonprofit legal entity to be known as the “Arkansas Earthquake Authority”. The authority shall operate subject to the supervision and control of the Board of the Arkansas Earthquake Authority. The authority is created as a political subdivision, instrumentality, and body politic of the State of Arkansas and, as such, is not a state agency.
(b) The authority shall be exempt from all state, county, and local taxes, including insurance premium taxes, the Arkansas Procurement Law, § 19-11-201 et seq., and the Arkansas Administrative Procedure Act, § 25-15-201 et seq., except to the extent defined in this chapter.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 102 - Arkansas Earthquake Authority Act
§ 23-102-102. Legislative findings and intent
§ 23-102-104. Establishment of Arkansas Earthquake Authority
§ 23-102-106. Immunity and limitations on liability
§ 23-102-107. Plan of operation — Suspension of operation — Dissolution
§ 23-102-109. Market Assistance Program
§ 23-102-110. Coverages accessible through Arkansas Earthquake Authority
§ 23-102-111. Administration of Arkansas Earthquake Authority
§ 23-102-113. Policy standards
§ 23-102-114. Notice and declination
§ 23-102-117. Federal or multistate catastrophic funds
§ 23-102-118. Exemption from Arkansas Property and Casualty Insurance Guaranty Act