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29.1530 Filing and approval.

Cite as [A.S.C.A. § 29.1530]

(a) Except where otherwise provided by law, no basic policy form, application form (where written application is required and is to be made a part of the policy), rider, endorsement or renewal certificate form, may be delivered or issued for delivery until the form has been filed with and is approved by the Commissioner. This section does not apply to:

(1) forms of unique character which are designed for, and used with respect to, insurance upon a particular risk or subject;

(2) forms issued at the request of a particular life or health insurance policy owner or certifi-cate holder and which relate to the manner of distribution of benefits or to the reservation of rights and benefits thereunder; or

(3) forms of group life or health insurance policies, or both, which have been agreed upon as a result of negotiations between the policyholder and the insurer.

(b) The Commissioner shall, within 30 days after the filing of any form, approve or disapprove the form. The Commissioner shall give written notice of his action to the insurer pro-posing to deliver the form, and when a form is disapproved, the notice shall show wherein the form does not comply with the law.

(c) The 30-day period referred to in subsection (b) may be extended by the Commissioner for an additional period not to exceed 30 days if he gives written notice within the first 30-day period to the insurer proposing to deliver the form that he needs the additional time for the consideration of the form.

(d) The Commissioner may at any time request an insurer to furnish him a copy of any form exempted under subsection (a).

History: 1974, PL 13-58 § 1.