STATE OF ARKANSAS
INSURANCE DEPARTMENT
INFORMATION
AND DOCUMENTATION REQUIRED AS A PART OF THE ADMISSION APPLICATION FOR AN
AUTOMOBILE CLUB OR ASSOCIATION
Please
provide the following information in a three (3) ring binder and in the order
requested herein. Please include a table
of contents for the packet and tab each of these items with the listed
numbers. For any items not applicable,
please include a page in the packet; numbered accordingly, explaining the
reason the item is not included. The
application requirements listed herein are pursuant to Chapter 77 of Title 23
on the Arkansas Code Annotated.
1.)
Completed admission application (form enclosed) and all applicable fee. The admission
fees, subject to Ark. Code Ann 23-63-102, retaliatory provisions, are:
(a)
Reviewing all documents for admission ……………….$250.00
2.)
A certified copy of the Charter or Articles of Incorporation, with all
amendments thereto, certified by the public officer with whom all the originals
are on file in the state of domicile.
3.)
A certified copy of the company’s by-laws, with amendments, by the
company’s secretary
4.)
A full & true statement of the company’s financial condition,
transactions, and affairs as of the Dec. 31 next preceding the date of the
application. The statement shall be
certified by the Automobile Club or Association President, or Vice-President
and secretary. Financial statements that are
consolidated with other affiliates or subsidiaries of the applicant are not
acceptable, except for good cause and subsequent approval by the commissioner.
Beginning after December 31, 2002, each applicant shall file an audited
financial statement for three (3) calendar years prior to the date of its
application in this state.
5.)
Current Biographical Affidavits for all the officers and directors of
the company. (form attached)
6.)
Appointment of Commissioner as agent to receive service of process
(form attached).
7.)
A letter giving the name and address of the official agent for service
of process, to whom the service of process should be forwarded to, after
receipt by the Commissioner.
8.)
A complete summary of your proposed plan of operation including a list
of services, insurance plans if any, and other membership privileges
offered. (List services included in
membership fee separately from those offered at extra cost).
A.C.A
23-77-101(2) states that four (4) or more of the following services must be
rendered, furnished or procured towing service, emergency road service,
insurance service, bail bond service, legal service, discount service,
financial service, buying & selling service, theft service, map service and
touring service.
9.)
Copies of all literature, membership applications, membership
certificates, cards, contracts for service, and advertising materials.
10.)
Rates, dues and fees.
11.)
Certificate of Good Standing with corporate seal affixed (form
attached).
12.)
Provide references as to the character, ability, and integrity of the
organizers, manager, agent and any other person through whom the applicant
proposes to issues contracts, membership certificates, membership cards, or
other documents in return for membership fees or dues.
13.)
Certification that upon full licensure it shall deposit the
sum of twenty thousand dollars ($20,000) in cash or securities as approved by
the commissioner and having at all times a market value of not less than twenty
thousand dollars ($20,000) this is required AFTER admission to the state. PLEASE DO NOT SUBMIT UNTIL NOTIFIED BY
DEPARTMENT PERSONNEL.
ACA 23-77-106(b)(1) states that no
foreign or alien automobile club or association shall be authorized to operate
in Arkansas which has not furnished the commissioner with evidence that it has
been organized and actively engaged in the automobile club or association
business in the state of its incorporation for a period of three (3) years
prior to the date of its application to be admitted and authorized to do business
in the State of Arkansas.
Your admission packet and any subsequent correspondence
should be addressed to:
Kimberly
Johnson
Market
Analyst
Arkansas
Insurance Department
1200
West Third Street
Little
Rock, AR 72201-1904
501-371-2680,
fax 501-371-2747
kimberly.johnson@arkansas.gov