The purpose of this part is to prescribe:

1. (1) Guidelines and standards for statements of actuarial opinion which are to be submitted in accordance with Arkansas Code § 23-84-112(b) and for memoranda in support thereof;
2. (2) Guidelines and standards for statements of actuarial opinion which are to be submitted when a company is exempt from Arkansas Code § 23-84-112(b) per Subpart 3 of this part; and
3. (3) Guidelines applicable to the appointment of an appointed actuary.