Arkansas SB237: TO AMEND THE LAW CONCERNING THE LICENSING AND REGULATION OF CAPTIVE INSURERS

What the bill says

An act to be entitled an act to amend the law concerning the licensing and regulation of captive insurers; and for other purposes. subtitle to amend the law concerning the licensing and regulation of captive insurers.

From the introduced text:

An Act To Be Entitled AN ACT TO AMEND THE LAW CONCERNING THE LICENSING AND REGULATION OF CAPTIVE INSURERS; AND FOR OTHER PURPOSES. Subtitle TO AMEND THE LAW CONCERNING THE LICENSING AND REGULATION OF CAPTIVE INSURERS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 23-63-1601(3), concerning the definition of "association" used in the licensing and regulation of captive insurers, is amended to read as follows: (3) "Association" means a legal association of individuals, corporations, partnerships, or associations that has been in continuous existence for at least one (1) year: (A) The member organizations of which collectively, or which does itself: (i) Own, control, or hold with power to vote all of the outstanding voting securities of an association captive insurance company incorporated as a stock insurer; or (ii) Have complete voting control over an association captive insurance company incorporated as a mutual insurer; or (B) The member organizations of which collectively constitute all of the subscribers of an association captive insurance company formed as a reciprocal insurer; *ANS130* 02/14/2025 7:48:10 AM ANS130 SB237 SECTION 2. Arkansas Code § 23-63-1601(9), concerning the definition of "Commissioner" used in the licensing and regulation of captive insurers, is repealed. (9) "Commissioner" means the Insurance Commissioner; SECTION 3. Arkansas Code § 23-63-1601(11), concerning the definition of …

Read the full official text

Sponsors

• Justin Boyd (R, 27) · primary sponsor
• Trey Steimel (R, 2)

Latest actions

1. April 14, 2025: Notification that SB237 is now Act 554
2. April 9, 2025: DELIVERED TO GOVERNOR.
3. April 9, 2025: Reported correctly enrolled and ordered delivered to the Governor.
4. April 8, 2025: ORDERED ENROLLED
5. April 8, 2025: Returned from the House as passed.
6. April 8, 2025: Returned to the Senate as passed.
7. April 7, 2025: Read the third time and passed and ordered transmitted to the Senate.
8. April 2, 2025: Returned by the Committee Do Pass
9. March 3, 2025: Read the first time, rules suspended, read the second time and referred to the Committee on INSURANCE & COMMERCE- HOUSE
10. March 3, 2025: RECEIVED FROM THE SENATE

Votes

• Senate Roll Call #1194 (April 14, 2025): 34 yea, 0 nay, passed
• House Roll Call #1033 (April 8, 2025): 95 yea, 0 nay, passed
• House Roll Call #1007 (April 7, 2025): 95 yea, 0 nay, passed
• Senate Roll Call #378 (March 3, 2025): 34 yea, 0 nay, passed

Common questions

What is SB237?

SB237 is a bill in the Arkansas Legislature (95th General Assembly (2025 Regular)): TO AMEND THE LAW CONCERNING THE LICENSING AND REGULATION OF CAPTIVE INSURERS.

What does SB237 do?

In its own words: An act to be entitled an act to amend the law concerning the licensing and regulation of captive insurers; and for other purposes. subtitle to amend the law concerning the licensing and regulation of captive insurers.

What is the status of SB237?

Chaptered as of April 14, 2025. Latest action: Notification that SB237 is now Act 554 (April 14, 2025).

Who sponsored SB237?

Justin Boyd (R, 27), with 1 co-sponsor.

Where is the official record for SB237?

On the Arkansas Legislature website: https://www.arkleg.state.ar.us/Bills/Detail?ddBienniumSession=2025%2F2025R&measureno=SB237