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2017 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 64 - Licensees, Agents, Brokers, Adjusters, and Consultants
Subchapter 5 - Producer Licensing Model Act
§ 23-64-508. Nonresident licensing
Universal Citation: AR Code § 23-64-508 (2017)
- (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 other provision of this subchapter, a person licensed as a surplus lines producer in his or her home state shall receive a nonresident surplus lines producer license pursuant to subsection (a) of this section. Except as to subsection (a) of this section, nothing in this section otherwise amends or supercedes any provision of the Surplus Lines Insurance Law, § 23-65-301 et seq.
- (e)
- (1) Notwithstanding any other provision of this subchapter, a person licensed as a limited line credit insurance or other type of limited lines producer in his or her home state shall receive a nonresident limited lines producer license, pursuant to subsection (a) of this section, granting the same scope of authority as granted under the license issued by the producer's home state.
- (2) For the purposes of this subsection, "limited line insurance" is any authority granted by the home state which restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to § 23-64-507(a)(1)-(6).
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