The bill amends Arkansas Code Title 17, Chapter 92, Subchapter 4, to establish specific ownership requirements for obtaining a pharmacy permit. It introduces a new section, 17-92-414, which mandates that applicants for a pharmacy permit must demonstrate that they are qualified to operate the pharmacy. The qualifications include being a licensed pharmacist in good standing, or being part of a partnership, corporation, or limited liability company where the majority ownership is held by licensed pharmacists who are actively involved in the management and operation of the pharmacy.

Additionally, the bill specifies that these ownership requirements do not apply to pharmacies that already possess a permit as of the effective date of the act, pharmacy chains headquartered in Arkansas, pharmacies located within institutions like hospitals, or veterinary and animal pharmacies. This legislation aims to ensure that pharmacies are owned and operated by qualified professionals, thereby enhancing the quality of pharmacy services in the state.