(a) The Insurance Commissioner may enter into written multistate agreements or compacts with other state jurisdictions on behalf of the State of Arkansas to provide for cooperation and assistance among member jurisdictions in the administration and collection of taxes imposed on multistate surplus lines insurance. (b) A multistate agreement or compact authorized by this subchapter […]
On and after July 21, 2011, the effective date of the Nonadmitted and Reinsurance Reform Act of 2010, Pub. L. No. 111-203, in the event of a conflict, the terms of a multistate agreement or compact shall prevail over conflicting state law.
A multistate agreement or compact entered into by the Insurance Commissioner shall be: (1) Considered by the Senate Committee on Insurance and Commerce and the House Committee on Insurance and Commerce; and (2) Reviewed and approved by the Legislative Council.
