The bill amends various sections of the Arkansas Code to clarify that surplus lines insurance is acceptable coverage for financial responsibility related to motor vehicle insurance. Key changes include the insertion of the terms "or eligible" in multiple sections, which expands the definition of acceptable insurance providers to include those that may not be fully authorized but are eligible to do business in the state. This change aims to ensure that individuals can meet their financial responsibility requirements through a broader range of insurance options.

Additionally, the bill modifies existing language to specify that a policy or bond shall not be effective unless issued by an insurance company or surety company that is authorized or eligible to operate in Arkansas. It also emphasizes the importance of having a power of attorney for non-resident insurance carriers to facilitate legal processes in the state. Overall, these amendments are intended to enhance the flexibility and accessibility of motor vehicle insurance coverage for Arkansas residents.

Statutes affected:
SB 276: 27-19-605, 27-19-604, 27-19-712, 27-19-713(a), 27-22-104(a), 27-22-202(4)