Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 61 - STATE INSURANCE DEPARTMENT (§§ 23-61-101 — 23-61-1111) › Subchapter 7 - STATE INSURANCE DEPARTMENT TRUST FUND ACT (§§ 23-61-701 — 23-61-711) › Section 23-61-708 - Fees for various other departmental services and products

(a)
(1)
Notwithstanding other provisions of this subchapter and notwithstanding other provisions of the Arkansas Insurance Code or other applicable Arkansas laws, the Insurance Commissioner shall by companion rule to this subchapter prescribe the amount and manner of payment of new, additional, or increased but nonrefundable fees due as special revenues to the State Insurance Department Trust Fund for the following services, documents, or publications provided by the State Insurance Department, including, but not limited to:
(A)
Filing by insurers of each agent appointment termination form;
(B)
Application for or issuance of original certification to be a course provider for agent prelicensing or continuing education in this state;
(C)
Application for or issuance of renewal certification to be a course provider for agent prelicensing or continuing education in this state;
(D)
Filing fees for applications filed for original examinations and retake examinations administered by the department;
(E)
Filing of initial and renewal insurer appointments of resident insurance agencies, corporations, or firms and partnerships;
(F)
Annual renewal of each certificate of registration issued to a third party administrator;
(G)
A filing and processing fee for filing legal process with the department wherein the commissioner is serving as official agent for service of process;
(H)
Filing and processing fees for filing specimen insurance policy and contract forms of all types with the department;
(I)
A filing fee for obtaining department lists of various kinds of licensees or registrants; and
(J)
Similar department services and products.
(2)
In the event the commissioner is required by laws enacted contemporaneously with or subsequent to this subchapter to perform other duties or incur other obligations, and in the event current revenues of the department, including, but not limited to, those revenues produced by this subchapter, are not sufficient for the commissioner to perform those new or additional duties efficiently and promptly or to the extent the commissioner deems necessary, then the commissioner shall enact new or additional or increased fees for departmental services, documents, and publications, but such fees shall only be adopted and imposed in a rule promulgated by the commissioner after notice and a hearing pursuant to the Arkansas Administrative Procedure Act, §
25-15-201
et seq., and other applicable sections of the Arkansas Insurance Code and other laws.
(3)
The fees described in this section and prescribed in amount and frequency of payment in the commissioner's companion rule to this subchapter shall be payable to the fund as special revenues for the support and operation of the State Insurance Department.
(b)
(1)
(A)
The fees for various department services, documents, or publications shall be divided into two (2) categories, Category A fees and Category B fees, and shall be so specified in the companion rule to this subchapter.
(B)
Category A fees at a maximum of one thousand five hundred dollars ($1,500) per transaction shall consist of those fees representing material or substantive corporate transactions of licensees, including, but not limited to, holding company changes in control of insurers or similar entities, corporate mergers and consolidation, bulk, or assumptive reinsurance transactions, as well as department products and services which would require a substantial commitment of department resources per transaction.
(C)
Category B fees at a maximum of fifty dollars ($50.00) per transaction shall consist of those fees representing other transactions of licensees, as well as department products and services which would not require a substantial commitment of department resources per transaction.
(2)
In no event shall any one (1) Category A fee or Category B fee for any department service, document, or publication per transaction pursuant to this section and the commissioner's companion rule and regulation exceed the maximums listed herein.
(c)
The commissioner may from time to time alter the fee amounts by rule amendment pursuant to the Arkansas Administrative Procedure Act, §
25-15-201
et seq., but in no event shall such fee amendments necessary for continued support and operation of the department exceed the limitations set forth in this section.
(d)
Insurers obligated to secure or renew agent appointments using department forms one through forty-eight (1-48) for their agent representatives on the licensing records of the State Insurance Department pursuant to the provisions of §
23-64-514
on a new or biennial renewal basis shall no longer collect such licensure expenses, directly or indirectly, from the agent licensee, or exact any form of reimbursement for the statutory appointment fees, or pass such costs along to the agent licensee, directly or indirectly, as any other type of charge, notwithstanding the provision of any agency, brokerage, or employment contract or agreement with the agent to the contrary.
Amended by Act 2019, No. 315,§ 2622, eff. 7/24/2019.
Amended by Act 2019, No. 315,§ 2621, eff. 7/24/2019.
Acts 1993, No. 652, § 9; 2001, No. 580, § 2.