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23-64-501. Title — Purpose — Scope.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-64-501. Title — Purpose — Scope.
(a) This subchapter shall be known and may be cited as the “Producer Licensing Model Act”.
(b) This subchapter governs the qualifications and procedures for the licensing of insurance producers. It simplifies and organizes some statutory language to improve efficiency, permits the use of new technology, and reduces costs associated with issuing and renewing insurance licenses.
(c) This subchapter does not apply to excess and surplus lines agents and brokers licensed pursuant to the Surplus Lines Insurance Law, § 23-65-301 et seq., except as provided in §§ 23-64-508 and 23-64-516(b).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-64-501
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-64-501
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6005edfa88984dfb0c639da3d5e950db43ff3c08990c1f29020c2ad606dad55e
Source location: content.xml paragraph 36086
Stored source content
23-64-501. Title — Purpose — Scope.
(a) This subchapter shall be known and may be cited as the “Producer Licensing Model Act”.
(b) This subchapter governs the qualifications and procedures for the licensing of insurance producers. It simplifies and organizes some statutory language to improve efficiency, permits the use of new technology, and reduces costs associated with issuing and renewing insurance licenses.
(c) This subchapter does not apply to excess and surplus lines agents and brokers licensed pursuant to the Surplus Lines Insurance Law, § 23-65-301 et seq., except as provided in §§ 23-64-508 and 23-64-516(b).
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-64-508. Nonresident licensing.
(a) Unless denied licensure pursuant to § 23-64-512, a nonresident person shall receive a nonresident producer license if:
(1) The person is currently licensed as a resident and in good standing in his or her home state;
(2) The person has submitted the proper request for licensure and has paid the fees required by § 23-61-401 and any existing or future rule and regulation;
(3) The person has submitted or transmitted to the Insurance Commissioner the application for licensure that the person submitted to his or her home state, or in lieu of the same, a completed National Association of Insurance Commissioners’ Uniform Application; and
(4) The person's home state awards nonresident producer licenses to residents of this state on the same basis.
(b)(1) The commissioner may verify the producer's licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates, or its subsidiaries.
(2) If at any time the nonresident producer has his or her home state producer license suspended, revoked, or terminated, the commissioner may summarily suspend the nonresident producer's nonresident producer license.
(3) A suspension under this subsection shall be lifted as a matter of law upon receipt of sufficient evidence that the nonresident producer's home state license is active and the nonresident producer is in good standing.
(c) A nonresident producer who moves from one state to another state or a resident producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within thirty (30) days after the change of legal residence. No fee or license application is required.
(d) Notwithstanding any othe
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-64-508
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-64-508. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-64-516. Reciprocity.
(a) The Insurance Commissioner shall waive any requirements for a nonresident license applicant with a valid license from his or her home state, except the requirements imposed by § 23-64-508, if the applicant's home state awards nonresident licenses to residents of this state on the same basis.
(b) A nonresident producer's satisfaction of his or her home state's continuing education requirements for licensed insurance producers shall constitute satisfaction of this state's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its continuing education requirements imposed upon producers from this state on the same basis.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-64-516
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-64-516. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-65-301. Title.
This subchapter shall be known and may be cited as the “Surplus Lines Insurance Law”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-65-301
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-65-301. This identifies an authority to review, not proof of applicability.