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23-94-213. Duty of agents or brokers to obtain license.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-94-213. Duty of agents or brokers to obtain license.
(a) Risk Retention Group Agents. Any person acting, or offering to act, as an agent or broker for a registered risk retention group which solicits members, sells insurance coverage, or otherwise does business in this state shall, before commencing any such activity, obtain a resident or nonresident risk retention group agent license from the commissioner upon completion of the licensing provisions as to resident and nonresident agents or brokers under § 23-64-101 et seq., §§ 23-64-201 — 23-64-205, 23-64-207, 23-64-209, 23-64-210, 23-64-214 — 23-64-221, 23-64-223 — 23-64-227, and the Producer Licensing Model Act, § 23-64-501 et seq., except as they conflict with the provisions of the Liability Risk Retention Act of 1986.
(b) Purchasing Group Brokers.
(1) Any person acting, or offering to act, as an agent or broker for a registered purchasing group which solicits members, sells insurance coverage, purchases coverage for its members located within the state, or otherwise doing business in this state shall, before commencing any such activity, obtain a resident or nonresident purchasing group broker license from the commissioner upon completion of the licensing provisions as to resident and nonresident agents or brokers under § 23-64-101 et seq., §§ 23-64-201 — 23-64-205, 23-64-207, 23-64-209, 23-64-210, 23-64-214 — 23-64-221, 23-64-223 — 23-64-227, and the Producer Licensing Model Act, § 23-64-501 et seq., except as they conflict with the provisions of the Liability Risk Retention Act of 1986, before securing the purchasing group's coverage with an authorized insurer or a registered risk retention group. This requirement shall not be applicable to property and casualty agents or brokers duly licensed by this
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-94-213
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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Record provenance
Stable record: arkansas_code:legal_authorities:23-94-213
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7862983e50bdcba13bf1b3d8204323b962f59813ccd2666c83d6e089c279f464
Source location: content.xml paragraph 57008
Stored source content
23-94-213. Duty of agents or brokers to obtain license.
(a) Risk Retention Group Agents. Any person acting, or offering to act, as an agent or broker for a registered risk retention group which solicits members, sells insurance coverage, or otherwise does business in this state shall, before commencing any such activity, obtain a resident or nonresident risk retention group agent license from the commissioner upon completion of the licensing provisions as to resident and nonresident agents or brokers under § 23-64-101 et seq., §§ 23-64-201 — 23-64-205, 23-64-207, 23-64-209, 23-64-210, 23-64-214 — 23-64-221, 23-64-223 — 23-64-227, and the Producer Licensing Model Act, § 23-64-501 et seq., except as they conflict with the provisions of the Liability Risk Retention Act of 1986.
(b) Purchasing Group Brokers.
(1) Any person acting, or offering to act, as an agent or broker for a registered purchasing group which solicits members, sells insurance coverage, purchases coverage for its members located within the state, or otherwise doing business in this state shall, before commencing any such activity, obtain a resident or nonresident purchasing group broker license from the commissioner upon completion of the licensing provisions as to resident and nonresident agents or brokers under § 23-64-101 et seq., §§ 23-64-201 — 23-64-205, 23-64-207, 23-64-209, 23-64-210, 23-64-214 — 23-64-221, 23-64-223 — 23-64-227, and the Producer Licensing Model Act, § 23-64-501 et seq., except as they conflict with the provisions of the Liability Risk Retention Act of 1986, before securing the purchasing group's coverage with an authorized insurer or a registered risk retention group. This requirement shall not be applicable to property and casualty agents or brokers duly licensed by this state as to the authorized insurer or risk retention group issuing the purchasing group's coverage, so long as these licenses comply with other provisions of this subchapter.
(2) Any person acting, or offering to act, as an agent or broker for a purchasing group registered in Arkansas and procuring insurance from an approved nonadmitted surplus lines insurer shall either:
(A) First obtain a property and casualty agent or broker's license or purchasing group broker's license from this state, prior to placing the purchasing group's coverage through a surplus lines broker duly licensed by the State of Arkansas; or
(B) First obtain a resident Arkansas surplus lines broker's license, or a nonresident Arkansas surplus lines broker's license, prior to placing the group's coverage with the surplus lines insurer.
(3) The provisions of this section shall be in conformity with the provisions of this subchapter, § 23-64-101 et seq., §§ 23-64-201 — 23-64-205, 23-64-207, 23-64-209, 23-64-210, 23-64-214 — 23-64-221, 23-64-223 — 23-64-227, the Producer Licensing Model Act, § 23-64-501 et seq., and the Surplus Lines Insurance Law, § 23-65-301 et seq., except as they conflict with the provisions of the Liability Risk Retention Act of 1986.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-64-101. Scope of provisions.
This chapter shall apply with respect to any insurer, as to all insurances other than wet marine and foreign trade insurance.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-64-101
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 23-64-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-64-201. License required to solicit, sell, negotiate, engage, consult, or adjust insurance — Grounds for license suspension.
(a) No insurance producer, insurer, insurance consultant, or adjuster shall permit any person not properly licensed under this chapter to solicit, sell, negotiate, engage, consult, or adjust in the business of insurance on behalf of the insurance producer, insurer, insurance consultant, or adjuster.
(b)(1) Unless he or she has complied with the Producer Licensing Model Act, § 23-64-501 et seq., a person shall not consult, counsel, or advise others on matters of insurance needs or coverages under any insurance policy or contract of insurance unless licensed under this section.
(2) Licensure of a salaried employee of the entity or entities for which he or she may consult or counsel on matters of insurance to that entity or entities shall not be required.
(c) No person may adjust claims as an adjuster without licensure under this chapter.
(d) Any license issued by the Insurance Commissioner, under this section, may be immediately suspended as per § 9-14-239 for failure to pay child support.
(e) All licensees or applicants for licensure under this section must notify the commissioner in writing within thirty (30) days of any filing of a criminal charge or conviction or plea of a criminal charge or the filing of any bankruptcy proceeding by or against them. Failure to so notify the commissioner may result in the immediate suspension of the license.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-64-201
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 23-64-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-64-205. Written examination.
(a) Within a reasonable time and in a location to be determined by the Insurance Commissioner, after filing of application and payment of the applicable fees, the commissioner shall subject each applicant for license as an insurance consultant to a written examination.
(b) If the applicant is a firm, limited liability company, or corporation, the examination shall be taken by each individual who is to be named in the license as having authority to act for the applicant in its insurance transactions under the license.
(c) Examination of an applicant for an insurance consultant's license shall cover the kinds of insurance as to which the applicant is to be licensed.
(d)(1) The commissioner may give, conduct, and grade all examinations, or he or she may arrange to have examinations administered and graded by an independent testing service as specified by contract, in a fair and impartial manner, and without unfair discrimination as between individuals examined.
(2) Any written examination may be substituted by an oral examination of the applicant if so deemed necessary under any applicable statute, including, but not limited to, the Americans with Disabilities Act.
(3) The commissioner shall require a waiting period of four (4) weeks before reexamination of an applicant who thrice failed to pass previous similar examinations. This waiting period applies after every third unsuccessful attempt.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-64-205
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 23-64-205. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-64-207. Scope of broker's license and authority and insurance consultant's license.
(a) The Insurance Commissioner shall not issue a broker's license limited to particular lines of insurance.
(b)(1) A broker, as such, is not an agent or other representative of an insurer and does not have power by his or her own acts to obligate the insurer upon any risk or with reference to any insurance transaction unless, and to the extent, he or she has received refunded premiums from the insurer on behalf of the insured.
(2) An insurer or agent shall have the right to pay to a broker licensed under this chapter the customary commissions upon insurance placed through the broker.
(c) A license as a consultant may cover:
(1) Life and disability;
(2) Property and casualty which includes surety and marine; or
(3) Both subdivisions (c)(1) and (2) of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-64-207
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 23-64-207. This identifies an authority to review, not proof of applicability.