The bill amends various sections of the Arkansas Code concerning surplus lines insurance and clarifies its acceptability as 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 enhance the availability of insurance options for individuals seeking to meet financial responsibility requirements.

Additionally, the bill modifies existing language to ensure that policies or bonds are effective only if issued by companies that are either authorized or eligible to operate in Arkansas. It also emphasizes that proof of financial responsibility can be provided through certificates from eligible insurance carriers, thereby streamlining the process for both residents and non-residents. Overall, the amendments aim to clarify and broaden the scope of acceptable insurance coverage while maintaining necessary regulatory standards.

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)
Act 345: 27-19-605, 27-19-604, 27-19-712, 27-19-713(a), 27-22-104(a), 27-22-202(4)