(a) Except as provided in § 23-72-118, a mutual assessment insurer may transact insurance on either the pro rata assessment plan only or on the level or stipulated rate plan only.(b) Each plan shall be governed by the provisions of this chapter made specifically applicable thereto and by those provisions applicable to both plans.Acts 1959, No. 148, § 562; A.S.A. 1947, § 66-4507.
Arkansas Legal Code