23 CAR § 107-112. Qualified trusts — Formation and regulation

(a)(1) Two (2) or more qualified individuals, qualified families, or qualified groups may make application for a certificate of approval to the Insurance Commissioner in order to form a qualified trust pursuant to Acts 1991, No. 238, and this part. (2) Such trust may exist solely for the purpose of obtaining minimum basic benefit policies. (b) All applicants for a certificate of approval under this section shall make application on the forms provided by the commissioner and shall submit the following: (1) A copy of the trust agreement to be signed by all members of the trust; (2) A copy of any agreements with third parties to administer the trust; (3) A plan of management including the method of collection and billing for premiums, administrator fees, and other expenses of the trust; (4) A copy of the proposed master basic benefit policy; and (5) A copy of the form of enrollment or certificate to be issued to the trust members evidencing coverage. (c) All administrators of trusts organized under this part shall comply with the provisions of Arkansas Code §§ 23-92-201 – 23-92-208 in the manner as those third-party administrators covered under such Arkansas Code provisions. (d)(1) Upon receipt of approval from the commissioner, the trust shall be allowed to conduct its business. (2) Any trust wishing to make a modification of the information required in 23 CAR § 107-103(1) shall file a request for approval with the commissioner prior to instituting the requested change.