(a) The permission granted in this law to place any insurance in a nonadmitted insurer shall not be deemed or construed to authorize that insurer to otherwise transact an insurance business in this state. Further, this limited permission shall not be deemed or construed so as to exempt nonadmitted insurers from the principles of the common law of insurance or from the same statutory and common law penalties that may attach in favor of insureds in the event of disputes or litigation between insureds and admitted insurers.
(b) A contract of insurance carried out by an unauthorized insurer in violation of this subchapter is voidable at the instance of the insured.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 65 - Unauthorized Insurers and Surplus Lines
Subchapter 3 - Surplus Lines Insurance Law
§ 23-65-303. Insurer not admitted
§ 23-65-305. Conditions of procurement
§ 23-65-307. Endorsement of contract
§ 23-65-308. Licensing of surplus lines broker
§ 23-65-309. Acceptance of business from agents by surplus lines brokers
§ 23-65-310. Surplus lines in solvent insurers
§ 23-65-311. Evidence of insurance — Changes
§ 23-65-312. Liability of insurer as to losses and unearned premiums
§ 23-65-313. Records of brokers
§ 23-65-314. Quarterly statement
§ 23-65-316. Penalty for failure to file quarterly statement or remit tax
§ 23-65-317. Revocation of broker's license
§ 23-65-318. Action against insurer — Service of process