(a)

1. (1) The purpose of this part is to establish financial and reporting requirements that the Insurance Commissioner ("commissioner") deems necessary for the regulation of captive insurance companies.
2. (2) Reference hereinunder to "company" shall mean captive insurance company or companies, unless otherwise specified.

(b)

1. (1) This part applies to captive insurance companies as that term is defined by Arkansas Code § 23-63-1601(8).
2. (2) The provisions of the Arkansas Insurance Code do not apply to captive insurance companies except as specifically provided in Arkansas Code § 23-63-1601 et seq.