Arkansas Code Title 23, Subtitle 3, Chapter 64, Subchapter 4 - Managing General Agents Act

• § 23-64-401 - Title.
  This subchapter may be cited as the "Managing General Agents Act".
• § 23-64-402 - Definitions.
  (a) "Actuary" means a person who is a member in good standing of the American Academy of Actuaries.(b) "Insurer" means any person, firm, association,...
• § 23-64-403 - License -- Surety Requirements.
  (a) No person, firm, association, limited liability company, or corporation shall act in the capacity of a managing general agent with respect to risks...
• § 23-64-404 - Agency Contracts -- Provisions.
  No person, firm, association, limited liability company, or corporation acting in the capacity of a managing general agent shall place business with an insurer...
• § 23-64-405 - Reporting Requirements.
  (a) The insurer shall have on file an independent financial examination, in a form acceptable to the Insurance Commissioner, of each managing general agent...
• § 23-64-406 - Representative Capacity -- Examinations.
  The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing...
• § 23-64-407 - Penalties for Violations.
  (a) If the Insurance Commissioner finds after a hearing conducted in accordance with § 23-61-301 et seq. that any person has violated any provision...
• § 23-64-408 - Insurance Commissioner's Regulatory Authority.
  The Insurance Commissioner may adopt reasonable rules and regulations for the implementation and administration of the provisions of this subchapter.

Last modified: November 15, 2016