Authority for this Rule is given to the Insurance Commissioner for the State of Arkansas by Ark. Code Ann. § 23-40-119 (d)(2)(A)(i) which states that the Insurance Commissioner, on and after July 1, 2001, may by rule or regulation eliminate, reduce, suspend, or increase the per-contract fee or the portion of the per-contract fee allotted to the Prepaid Funeral Contracts Recovery Program Fund. In addition, this Rule and Regulation is promulgated and adopted by the Insurance Commissioner pursuant to the authority vested in the Commissioner under Arkansas Code Annotated §§ 23-61-108 and 25-15-201, et seq. Pursuant to the Commissioner's authority under Ark. Code Ann. § 23-61-108, §§ 25-15-201, et seq., and other applicable laws and rules, the effective date of this Rule and Regulation is January 1, 2013.