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AR HB1525
Bill
Status
3/21/2023
Primary Sponsor
Grant Hodges
Click for details
AI Summary
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Amends Arkansas Code § 23-66-206(9) to clarify that token gifts of $100 or less in wholesale value used for advertisement purposes are not prohibited rebates, including items such as pens, calendars, and notebooks.
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Amends Arkansas Code § 23-66-308(c) to add a new subsection (4) establishing the same $100 or less threshold for token gifts used for advertisement purposes as an exception to rebate prohibitions.
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Allows insurance agents, brokers, and solicitors to distribute promotional items under the specified value without violating rebate restrictions.
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Approved March 21, 2023.
Legislative Description
To Amend The Definition Of "rebates" As Used In The Business Of Insurance; And To Modify The Minimum Threshold Value Of Token Gifts In The Business Of Insurance.
Last Action
Notification that HB1525 is now Act 337
3/21/2023