(a) The applicants or renewal applicants for the limited adjuster’s license shall not be:
- (1) Deemed to be “third-party administrators” (TPAs) under the provisions of Arkansas Code § 23-92-201 et seq.; or
- (2) Required to obtain the TPA registration from the Insurance Commissioner.
- (b) Third-party administrators registered or licensed by the commissioner shall not be required to obtain the limited adjuster’s license under the provisions of Acts 1997, No. 1004, or this part.
- (c) The licenses for limited adjusters and third-party administrators shall be deemed mutually exclusive by the State Insurance Department.