Derivation and classes of fees
Arkansas Code § 23-61-108; Arkansas Code § 23-61-703; Arkansas Code § 23-61-706; Arkansas Code § 23-61-708; Arkansas Code § 23-61-709; Arkansas Code § 23-91-206
(a)
(1)
- (A) The State Insurance Department Trust Fund Act, Arkansas Code § 23-61-701 et seq., provides the State Insurance Department’s authority to generate revenue to support its operations by the imposition of fees.
- (B) It also divides certain of those fees into two (2) categories, i.e., Category A and Category B.
(2)
- (A) Fees in Category A are those:
(i) Involving material or substantive corporate transactions; or
(ii) That consume substantial time of department staff.
- (B) Those fees are capped at a maximum of one thousand five hundred dollars ($1,500) per transaction.
(3)
- (A) Category B fees, on the other hand, are those involving other departmental filings, transactions, or services that do not require a substantial effort by department staff.
- (B) Those fees are capped at a maximum of fifty dollars ($50.00) per transaction.
(b) Caution. The State Insurance Department Trust Fund Act, Arkansas Code § 23-61-701 et seq., and other acts/statutes referenced above authorize the imposition of other fees:
- (1) Set forth in this part; and
- (2) That are not subject to the respective Category A and Category B caps.