Arkansas Administrative Code › Agency 054 - Arkansas Insurance Department › Rule 054.00.10-001 - Rule 50 - Continuing Education for Producers and Adjusters

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") and adjusters 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. Individuals holding licenses
		  for which an examination is not required;
2. Company employed adjusters and limited
		  adjusters as defined in Rule and Regulation 68;
3. Any limited or restricted license the
		  Commissioner may exempt;
4. Any
		  individual, licensed as a resident producer prior to July 1, 2003, who is at
		  least sixty (60) years of age;
5.
		  Any individual, 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, unless the
		  home state does not have any comparable continuing education
		  requirements;
8. Licensed insurance
		  consultants;
9. Any producer or
		  adjuster 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;
10. 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		  (A)(4) and (5) of this Section are no longer applicable to insurance producers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 their Arkansas producer license lapse and have become re-licensed, or
		  to title insurance agents; and
11.
		  Individuals (or an appointed guardian or person with an appropriately worded
		  power of attorney) with grave or debilitating illnesses or injuries may request
		  an extension for no more than twelve (12) months, for completion of the CE
		  hours required for a particular licensing renewal period. The request must be
		  accompanied by a written doctor's statement confirming the medical history and
		  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 anyone 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.