AR SB768

Amends Arkansas Code § 23-66-206(10)(B) to add an exemption allowing licensed insurance consultants to adjust or refund consulting fees based on commissions received from insurance carriers, provided clients pay annual premiums of $75,000 or more under a prior written agreement.

Amends Arkansas Code § 23-66-308(c) to clarify that rebate prohibitions do not apply to licensed insurance consultants who are also licensed producers adjusting or refunding consulting fees to clients with annual premiums of $75,000 or more based on commissions received from insurers.

Corrects references to federal banking law by changing "Bank Holding Company Act Amendments of 1972" to "1970" and "Home Owners Loan Act" to "Home Owners' Loan Act" in the definitions section.