June 20, 2011
Monday, June 20th, 2011
Arkansas:
Recent legislation now governs the suspension of Non-Resident producer licenses. The primary requirement to receive a non-resident insurance producer license in Arkansas is a current producer license as a resident in good standing in his or her home state. However, the Department lacked statutory authority to summarily suspend a non-resident license when the underlying resident license becomes inactive. This new section of the Act allows the Department to immediately suspend a non-resident license upon confirming the non-renewal, suspension, or revocation of the non-resident’s home state license. This section also provides that the non-resident license can be reinstated immediately upon proof that the resident license has been reinstated.