(a) Taxation on legal insurance premiums shall be fixed at the rate of two and one-half percent (2.5%) of direct written premium income in Arkansas, after deduction for dividends paid to policyholders and returned premiums, and shall be due and payable in estimated quarterly installments and reconciled annually at the time of filing the insurer's annual report as required by § 23-91-215.
(b) The Insurance Commissioner shall deposit all premium taxes collected under this section in the State Treasury as general revenues.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 91 - PrePaid Legal Insurance
Subchapter 2 - Arkansas Legal Insurance Act
§ 23-91-202. Construction and purposes
§ 23-91-204. Applicability of insurance law
§ 23-91-205. Applicability of unauthorized insurance law
§ 23-91-207. Penalty provisions — Applicability of §§ 23-60-108 and 23-60-109
§ 23-91-208. Authorization required
§ 23-91-209. Conditions for issuing certificate of authority
§ 23-91-210. Regulation of policy forms
§ 23-91-211. Regulation of rates
§ 23-91-212. Approval of forms and rates
§ 23-91-213. Segregated accounts required — Exception
§ 23-91-214. Management and exclusive agency contracts
§ 23-91-216. Reserves required
§ 23-91-217. Investment of assets
§ 23-91-219. Licensing of agents
§ 23-91-220. Examination of insurer's affairs
§ 23-91-221. Professional ethics
§ 23-91-222. Revocation of certificate of authority
§ 23-91-223. Rehabilitation and liquidation