(a) No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by a risk retention group.
(b) When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or a risk retention group, no such risks, wherever resident or located, shall be covered by any insurance guaranty fund or similar mechanism in this state.
(c) When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state shall be covered by the appropriate state guaranty fund.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 94 - Liability Risk Retention
Subchapter 2 - Risk Retention and Purchasing Groups Act
§ 23-94-204. Domestic risk retention groups — Definitions
§ 23-94-205. Foreign risk retention groups
§ 23-94-206. Compulsory associations
§ 23-94-207. Purchasing groups — Exemption from certain laws
§ 23-94-208. Notice and registration requirements of purchasing groups
§ 23-94-209. Restrictions on insurance purchased by purchasing groups
§ 23-94-213. Duty of agents or brokers to obtain license
§ 23-94-214. Binding effect of orders issued in United States District Court