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.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 70 - Reciprocal Insurers
§ 23-70-104. Name used in suits
§ 23-70-105. Surplus funds required
§ 23-70-107. Certificate of authority
§ 23-70-108. Power of attorney
§ 23-70-110. Attorney's bond required — Exception
§ 23-70-111. Service of process — Judgment
§ 23-70-112. Contributions to insurer
§ 23-70-114. Method of determining financial condition
§ 23-70-115. Subscribers generally
§ 23-70-116. Subscribers' advisory committee
§ 23-70-117. Subscribers' liability
§ 23-70-119. Aggregate liability
§ 23-70-120. Nonassessable policies
§ 23-70-121. Distribution of savings
§ 23-70-122. Subscribers' share in assets