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AR SB276
Bill
Status
3/20/2025
Primary Sponsor
Blake Johnson
Click for details
AI Summary
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Surplus lines insurance policies are now explicitly recognized as acceptable proof of motor vehicle financial responsibility in Arkansas, adding "or eligible" language alongside "authorized" insurers throughout relevant statutes
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Amends Arkansas Code §§ 27-19-605, 27-19-712, 27-19-713, 27-22-104, and 27-22-202 to include insurers "eligible to do business" in the state, not just those fully authorized
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Minimum liability coverage requirements remain unchanged: $25,000 per person for bodily injury/death, $50,000 total for multiple injuries/deaths per accident, and $25,000 for property damage
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Insurance carriers not authorized to do business in Arkansas must execute a power of attorney allowing the Secretary of the Department of Finance and Administration to accept legal service on their behalf
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Approved March 20, 2025, as Act 345 of the 95th General Assembly Regular Session
Legislative Description
To Amend The Law Concerning Surplus Lines Insurance; And To Clarify That Surplus Lines Insurance Is Acceptable Coverage For Financial Responsibility Of Motor Vehicle Insurance Coverage.
Last Action
Notification that SB276 is now Act 345
3/20/2025