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2001 vol. 1 bk. 3 2310 (2001)

handle is hein.ssl/ssar0003 and id is 1 raw text is: ACTS OF ARIANSAS

ACT 580
AN ACT TO COMPLY WITH THE PROVISIONS
OF GRAMM-LEACH-BLILEY ACT OF 1999,
PUBLIC LAW 106-102, 113 STAT. 1338, RE-
GARDING RECIPROCITY AND UNIFORMI-
TY IN PRODUCER LICENSING BY ENACT-
ING THE PRODUCER LICENSING MODEL
ACT; TO AMEND SELECTED SECTIONS
OF TITLE 23, CHAPTER 64, SUBCHAPTERS
1 AND 2 TO CONFORM TO THE GRAMM-
LEACH-BLILEY AND THE PRODUCER LI-
CENSING MODEL ACT; AND FOR OTHER
PURPOSES.
Subtitle
TO ENACT THE PRODUCER LICENSING MOD-
EL ACT.
BE IT ENACTED BY THE GENERAL ASSEMBLY
OF THE STATE OF ARKANSAS:
SECTION 1. Arkansas Code Title 23, Chapter 64,
is amended to add an additional subchapter to rcad as
follows:
Subchapter 5
23-64-501. Title, Purpose, and 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 renew-
ing insurance licenses.
(c) This subchapter does not apply to excess and
surplus lines agents and brokers licensed pursuant to
Additions are Indicated by underline; deletions by trikeou

2310

Act 580

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