AR SB726

Adds definitions to Arkansas Code § 4-56-104 for "Gas" (natural gas and hydrocarbons not classified as oil), "Oil" (crude petroleum and liquid hydrocarbons produced by ordinary methods), and "Operator" (person with rights to explore, drill, and develop for oil, gas, brine, and petroleum hydrocarbons).

Voids and makes unenforceable hold harmless clauses in construction contracts entered after July 31, 2007 that require indemnification for sole negligence or fault of the indemnitee, its agents, representatives, subcontractors, or suppliers related to death, bodily injury, or property damage.

Prohibits construction contracts from circumventing these protections by subjecting agreements to another state's laws or requiring litigation, arbitration, or dispute resolution to be conducted in another state.

Permits indemnification agreements where one party indemnifies another for the indemnifying party's own negligence, requires insurance coverage for such negligence, or requires naming the other party as an additional insured, with indemnification limited to the degree of negligence attributable to the indemnitee.

Creates an exception allowing indemnification requirements for construction work or services related to oil and gas exploration, drilling, production, processing, gathering, or movement activities at sites where such operations have occurred, are occurring, or will occur.