In addition to any other penalties provided by the laws of this state, any insurer or agent found to have violated any requirement of this state relating to the regulation of long-term care insurance or the marketing of long-term care insurance is subject to the greater of:
(1) A fine of up to three (3) times the amount of any commissions paid for each policy involved in the violation; or
(2) A fine of up to ten thousand dollars ($10,000).
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 97 - Long-Term Care Insurance
Subchapter 3 - Long-Term Care Insurance Act of 2005
§ 23-97-305. Requirements for associations
§ 23-97-306. Extraterritorial jurisdiction — Group long-term care insurance
§ 23-97-307. Disclosure and performance standards for long-term care insurance
§ 23-97-308. Preexisting condition
§ 23-97-309. Prior hospitalization or institutionalization
§ 23-97-310. Loss ratio standards
§ 23-97-311. Right to return — Free look
§ 23-97-312. Outline of coverage
§ 23-97-314. Delivery of policy and summary — Disclosures
§ 23-97-315. Acceleration of death benefit
§ 23-97-317. Offer of long-term care or nursing home insurance
§ 23-97-318. Incontestability period
§ 23-97-319. Nonforfeiture benefits