A pro rata assessment plan insurer has power at any time to reclassify, transfer, or rearrange its members, to merge or unite circles or groups; and to unite into one (1) group or circle two (2) or more groups or circles, the membership of which has decreased below the maximum. The insurer shall not start a new group or circle so long as any other group or circle is not up to maximum. All groups and circles shall be kept up to the maximum.
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