(a) The Insurance Commissioner shall have the power to make such rules as may be necessary for the execution of the functions vested in him or her by this subchapter and for such purpose may classify domestic stock insurance companies, securities, and other persons or matters within his or her jurisdiction.(b) No provision of this subchapter imposing any liability shall apply to any act done or omitted, in good faith, in conformity with any rule of the commissioner, notwithstanding that the rule, after the act or omission, may be amended or rescinded or determined by judicial or other authority to be invalid for any reason.Amended by Act 2019, No. 315,§ 2690, eff. 7/24/2019.Acts 1965, No. 107, § 8; A.S.A. 1947, § 66-4265. (a) The Insurance Commissioner shall have the power to make such rules as may be necessary for the execution of the functions vested in him or her by this subchapter and for such purpose may classify domestic stock insurance companies, securities, and other persons or matters within his or her jurisdiction.(b) No provision of this subchapter imposing any liability shall apply to any act done or omitted, in good faith, in conformity with any rule of the commissioner, notwithstanding that the rule, after the act or omission, may be amended or rescinded or determined by judicial or other authority to be invalid for any reason.Amended by Act 2019, No. 315,§ 2690, eff. 7/24/2019.Acts 1965, No. 107, § 8; A.S.A. 1947, § 66-4265.
Arkansas Legal Code