Arkansas § 17-40-308 License or credential - Insurance prerequisite

Arkansas Statutes

§ 17-40-308 — License or credential - Insurance prerequisite

Arkansas § 17-40-308

Title17

This text of Arkansas § 17-40-308 (License or credential - Insurance prerequisite) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 17-40-308 (2026).

Text

(a)A Class B, Class C, or Class G license shall not be issued to an applicant under this chapter unless the applicant files with the Director of the Division of Arkansas State Police proof of a policy of continuing public liability insurance in a sum not less than five hundred thousand dollars ($500,000), conditioned to compensate any person for damages, including, but not limited to, bodily injury caused by wrongful acts of the principal or its servants, officers, agents, and employees in the conduct of any business licensed by this chapter.

(b)A Class B or Class C license shall not be issued to an armored car company unless the applicant files with the director proof of a valid and continuing policy of armored car cargo insurance protecting customers' valuables in a sum not less than f

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(a) A Class B, Class C, or Class G license shall not be issued to an applicant under this chapter unless the applicant files with the Director of the Division of Arkansas State Police proof of a policy of continuing public liability insurance in a sum not less than five hundred thousand dollars ($500,000), conditioned to compensate any person for damages, including, but not limited to, bodily injury caused by wrongful acts of the principal or its servants, officers, agents, and employees in the conduct of any business licensed by this chapter. (b) A Class B or Class C license shall not be issued to an armored car company unless the applicant files with the director proof of a valid and continuing policy of armored car cargo insurance protecting customers' valuables in a sum not less than five hundred thousand dollars ($500,000). (c) (1) All Class E licensees shall maintain in force at all times while licensed a public liability insurance policy, with minimum limits of liability of three hundred thousand dollars ($300,000). (2) All alarm systems companies that issue Underwriters Laboratories certificates for local mercantile, central station, or police connected alarms shall maintain in force at all times a public liability insurance policy in an amount of at least three hundred thousand dollars ($300,000). (3) Proof of public liability insurance shall be provided to the director at the time of application or renewal or upon request. (4) This section does not pertain to alarm systems companies that do not sell, install, or service alarm systems.

Legislative History

Amended by Act 2019, No. 386,§ 21, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 5977, eff. 7/1/2019. Amended by Act 2015, No. 393,§ 62, eff. 9/1/2015. Acts 1977, No. 429, § 32; 1981, No. 792, § 15; 1983, No. 766, § 1; A.S.A. 1947, § 71-2153; Acts 1989, No. 926, §§ 7, 8; 1991, No. 57, § 1; 1999, No. 1493, § 7.