23 CAR § 21-104 – Payment extensions and waivers — Penalty for noncompliance

(a) Time extension. In his or her complete discretion and for good cause shown, the Insurance Commissioner may grant an extension for reporting and/or payment of the fee required by this part for any insurer applying for an extension with written notice received by the commissioner not less than ten (10) days prior to the due date prescribed by this part.
(b) Waiver — Cessation of waiver. The commissioner in his or her complete discretion may waive all or any part of the fee assessed under this part due from an insurer if the:
1. (1) Insurer’s Arkansas certificate of authority is suspended or revoked;
2. (2) Commissioner finds that the insurer is impaired or insolvent, or its continuing operations are hazardous to the insurance-buying public of the state; or
3. (3) Insurer is under domiciliary department supervision, or court-ordered conservation, rehabilitation, or liquidation in any state.
(c) Penalty. Upon failure of the insurer to report or pay the fees or penalties required by Arkansas Code § 23-61-703 and this part when due, the insurer shall be subject to a penalty of one hundred dollars ($100) per day for each day of delinquency.