AR Code § 23-64-216 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 64 - Licensees, Agents, Brokers, Adjusters, and Consultants|Subchapter 2 - Licensing and Appointment|§ 23-64-216. Suspension or revocation

 (a) The Insurance Commissioner may suspend for up to thirty-six (36) months, may revoke or refuse to continue, or may place in probationary status any license issued by him or her if after notice to the licensee and after hearing he or she finds any one (1) or more of the following causes exist:  (1) In the case of an insurance producer or broker licensed as an insurance producer, for any of the causes under § 23-64-512; or  (2) In the case of an adjuster or insurance consultant licensed under this subchapter:  (A) Providing incorrect, misleading, incomplete, or materially untrue information in the license application;  (B) Violating any insurance laws or violating any regulation, subpoena, or order of the commissioner or of another state's insurance commissioner;  (C) Obtaining or attempting to obtain a license through misrepresentation or fraud;  (D) Improperly withholding, misappropriating, or converting any moneys or properties received in the course of doing insurance business;  (E) Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance;  (F) Having been convicted of a felony;  (G) Having admitted or been found to have committed any insurance unfair trade practice or fraud;  (H) Using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness, or financial irresponsibility in the conduct of business in this state or elsewhere;  (I) Having an insurance producer, insurance consultant, or adjuster license, or its equivalent, denied, suspended, or revoked in any other state, province, district, or territory;  (J) Forging another's name to an application for insurance or to any document related to an insurance transaction;  (K) Improperly using notes or any other reference material to complete an examination for an insurance license;  (L) Knowingly accepting insurance business from an individual who is not licensed;  (M) Failing to comply with an administrative or court order imposing a child support obligation; or  (N) Failing to pay state income tax or comply with any administrative or court order directing payment of state income tax.      (b) For purposes of this section, licenses also include permits, registrations, or certificates of authority.  (c) The license of a firm, limited liability company, or corporation may be suspended, revoked, or refused also for any of such causes as relate to any individual designated in the license to exercise its powers.  (d)  (1) If the commissioner finds that one (1) or more grounds exist for the suspension or revocation of any license, the commissioner in his or her discretion may impose upon the licensee an administrative penalty in the amount of up to one thousand dollars ($1,000) per violation or, if the commissioner has found willful misconduct or willful violation on the part of the licensee, up to five thousand dollars ($5,000) per violation.  (2) The administrative penalty may be augmented, in the commissioner's discretion, by an amount equal to any commissions received by or accruing to the credit of the licensee for any transaction related to the proceeding against the licensee.  (3) The commissioner may also order restitution of actual losses to affected persons.    (e)  (1) If the commissioner determines that the public health, safety, or welfare imperatively requires emergency action and incorporates a finding to that effect in his or her order, pending an administrative hearing, the commissioner may:  (A) Issue a summary suspension of any license issued by him or her; or  (B) Issue an emergency cease and desist order.    (2) A hearing held under this subsection shall be promptly instituted.    (f)  (1) If upon notice and hearing the commissioner finds that the licensee has violated a provision of the insurance laws of this state or any rule or order of the commissioner and that the licensee previously has been found to have violated provisions of the insurance laws of this state or any rule or order of the commissioner, by an order of the commissioner after hearing or by an order entered with the consent and agreement of the parties, the commissioner may take judicial notice of the previous orders against the licensee and, within the commissioner's discretion, may enhance or increase the penalties ordered in the current proceeding as to the licensee, and the commissioner shall incorporate a finding to that effect in his or her order.  (2) Statutory or regulatory violations for which an order has been entered as to the licensee by the insurance department or equivalent regulatory body in any other jurisdiction may be taken into consideration and included in assessing the enhanced or increased penalties provided in subdivision (f)(1) of this section.    (g) The penalties recited in this section may be imposed by the commissioner for violations of the Arkansas Insurance Code or other applicable laws, or rules or orders of the commissioner, committed by any resident agent whose license is on inactive or retired status.  (h) For purposes of this section, “probationary status” means the suspended imposition of insurance license sanctions that the commissioner may impose by law or by informed consent on a licensee subject to this chapter, upon disclosed terms and for a specified period, contingent upon the compliance and good conduct of the licensee during that period, and that would result in imposition of insurance license sanctions upon the licensee's failure to successfully complete the specified period.