This Rule shall apply to all life insurance companies and fraternal benefit societies licensed in Arkansas and licensed in and/or doing business in at least one other state, and to all life insurance companies and fraternal benefit societies that are authorized to reinsure life insurance, annuities or accident and health insurance licensed in Arkansas and licensed in and/or doing business in at least one other state. This Rule shall be applied in a manner that allows the Appointed Actuary to utilize his or her professional judgment in performing the asset analysis and developing the actuarial opinion and supporting memoranda, consistent with relevant actuarial standards of practice. However, the Commissioner shall have the authority to specify specific methods of actuarial analysis and actuarial assumptions when, in the Commissioner's judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items.

This Rule shall be applicable to all annual statements filed with the office of the Commissioner after the effective date of this Rule. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with Section 6 of this Rule, and a memorandum in support thereof in accordance with Section 7 of this Rule, shall be required each year.

This Rule applies only to life insurance and/or accident and health insurance companies and fraternal benefit societies that do business in multiple states including Arkansas, regardless of the company or society's state of domicile. Rule 64 applies to life insurance companies and fraternal benefit societies domiciled in Arkansas and doing business only in Arkansas.