(a) Except as provided in § 23-72-118, a mutual assessment insurer may transact insurance on either the pro rata assessment plan only or on the level or stipulated rate plan only.
(b) Each plan shall be governed by the provisions of this chapter made specifically applicable thereto and by those provisions applicable to both plans.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 72 - Mutual Assessment Life and Disability Insurers
§ 23-72-103. Other provisions applicable
§ 23-72-104. Minimum requirements for new insurers
§ 23-72-106. Refusal, suspension, or revocation of certificate of authority
§ 23-72-107. Pro rata or level assessment plans
§ 23-72-110. Filing and amendment of bylaws
§ 23-72-111. Special provisions of pro rata assessment plan
§ 23-72-112. Additional assessments or adjustments of rates or benefits
§ 23-72-113. Benefits and payment — Level or stipulated plan insurers
§ 23-72-114. Benefits not subject to attachment
§ 23-72-115. Notice to members of scaled and reduced claims
§ 23-72-116. Pro rata plan insurer — Reclassification and rearrangement of members
§ 23-72-118. Conversion to level premium plan
§ 23-72-119. Merger or bulk reinsurance or conversion