Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas SB499: TO REPEAL CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT AND THE STATE SECURITIES DEPARTMENT; AND TO REVISE CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT
Status: Failed, May 5, 2025
What the bill says
An act to be entitled an act to repeal certain reporting requirements for the state insurance department and the state securities department; to revise certain reporting requirements for the state insurance department; and for other purposes. subtitle to repeal certain reporting requirements for the state insurance department and the state securities department; and to revise certain reporting requirements for the state insurance department.
From the introduced text:
An Act To Be Entitled AN ACT TO REPEAL CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT AND THE STATE SECURITIES DEPARTMENT; TO REVISE CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT; AND FOR OTHER PURPOSES. Subtitle TO REPEAL CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT AND THE STATE SECURITIES DEPARTMENT; AND TO REVISE CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 23-42-111 is repealed. 23-42-111. Quarterly reports. (a) The State Securities Department shall provide to the Legislative Council, or to the Joint Budget Committee if the General Assembly is in session, on a quarterly basis a report of all funds received or any external fund transactions recognized or required through court orders or settlement agreements. (b) The report required under subsection (a) of this section shall (2) The amount of funds received or transaction recognized or *ANS387* 03/18/2025 11:39:54 AM ANS387 SB499 required by the department for each court order or settlement agreement; (3)(A) A plan for disbursement of the received funds. (B) If funds received from a court order or settlement agreement are expended for any purpose, including investor education and enforcement activities, the report shall itemize specific activities subject to the exclusions provided in § 25-1-403(1)(B); (4) An itemization …