Arkansas Administrative Code › Agency 054 - Arkansas Insurance Department › Rule 054.00.06-006 - Rule 50 - Producers Continuing Education

Current through Register Vol. 49, No. 6, June, 2024
SECTION 1.
PURPOSE
The purpose of Rule 50 is to establish requirements and standards
			 for continuing education for natural persons licensed as insurance producers
			 ("producers") by the Arkansas Insurance Commissioner (the
			 "Commissioner").
SECTION 2.
AUTHORITY
This Rule is issued under the authority vested in the
			 Commissioner by Ark. Code Ann. §
								23-61-108, and
			 the Arkansas Administrative Procedure Act, codified at Ark. Code Ann.
			 §§
								25-15-201, et
			 seq., and Ark. Code Ann. §
								23-64-304(a),
			 as amended by Act 1203 of 2003 and Act 1697 of 2005.
SECTION 3
EXEMPTIONS
A. This Rule shall not apply to the following
		  individuals:
1. Persons holding licenses for
		  which an examination is not required;
2. Adjusters and limited adjusters;
3. Any limited or restricted license the
		  Commissioner may exempt;
4. Any
		  person, licensed as a resident producer prior to July 1, 2003, who is at least
		  sixty (60) years of age;
5. Any
		  person, licensed as a resident producer prior to July 1, 2003, who has held a
		  license as a producer, insurance consultant or broker for a period of at least
		  fifteen (15) consecutive years;
6.
		  Third-party administrators who do not solicit business;
7. Non-resident producers, non-resident
		  consultants, and/or non-resident adjusters;
8. Licensed insurance consultants;
9. Nonresident producers in the first full
		  year of resident licensing following the year after a change in the state of
		  domicile or residency to the State of Arkansas; but thereafter annually or
		  otherwise in accordance with insurance continuing education laws, and rules of
		  the Commissioner;
10. Any producer
		  called to active duty in any branch of the United States military services
		  including, but not limited to, the United States Coast Guard and Reserves,
		  during the entire period of active duty service;
11. The exceptions contained in Subsections
		  (A)(4) and (5) of this Section are no longer applicable to insurance producers
		  who became resident licensees after July 1, 2003, or insurance producers who
		  have let the Arkansas producer license lapse and have become re-licensed;
		  and
12. Individuals (or an
		  appointed guardian or person with an appropriately worded power of attorney)
		  with grave or debilitating illnesses or injuries may write for an extension for
		  no more than twelve (12) months, for completion of the annual CE hours required
		  for a particular calendar year. The request must be accompanied by a written
		  doctor's statement confirming the medical history under review and with a
		  medical estimate as to how long the individual will be unable to function
		  normally enough to complete the rule requirements. The request from the
		  producer must include his/her mail or electronic mail note that he/she is
		  voluntarily waiving the private or confidential nature of the illness or injury
		  in order to qualify for this extension. With similar documentation, including a
		  signed note from the attending physician and a privacy waiver from and signed
		  by the patient, producers (or the relative's appointed guardian or person with
		  an appropriately worded power of attorney) may also file for an extension due
		  to the terminal or debilitating illness of a grandparent, parent, spouse,
		  sibling, or child. The Commissioner has discretion to grant such time
		  extensions for good cause under Ark. Code Ann. §
									23-64-304(b),
		  but only up to one (1) year; and may deny requests from any producer failing,
		  or who has in the past failed, to comply with Arkansas laws or rules, or failed
		  to comply within any extended time period granted by the Commissioner under
		  this subsection.