1. (a) Eligibility.

   1. (1) The license applicant must be at least eighteen (18) years of age or if not of legal age, minority rights must be removed by a court order and a copy of the court order must be forwarded along with the application and fees.

   2. (2)

      1. (A) The applicant must be a resident of the State of Arkansas or a nonresident employed by a resident licensee.
      2. (B) A “resident title insurance agent” means an agent whose residence is in or who may vote in this state or who is licensed as a resident insurance producer by the Insurance Commissioner in accordance with the Producer Licensing Model Act, Arkansas Code § 23-64-501 et seq.
      3. (C) Residency by a title insurance agency must be demonstrated by a place of business accessible to the public wherein the licensee principally conducts transactions.
      4. (D) A nonresident individual may be eligible for licensure if he or she is employed by a resident title insurance agency and meets the other eligibility requirements of this section.
   3. (3) The applicant must be deemed by the commissioner to be competent, trustworthy, financially responsible, and of good personal and business reputation.

   4. (4)

      1. (A) The applicant must have two thousand (2,000) hours of prior title work experience and must submit a notarized affidavit from the applicant’s current or prior employer attesting to same.
      2. (B)

2. (i) If unable to obtain verification from a prior employer, the applicant may request a waiver from the commissioner.

   1. (ii) The request must specify the grounds to be relied upon as a basis for the waiver.

      1. (C) The commissioner may hold a hearing to determine whether a waiver may be granted.

   2. (5)

      1. (A) The applicant must pass a written examination demonstrating competence to act as a title insurance agent.
      2. (B) The commissioner may give, conduct, and grade all examinations, or may arrange to have examinations administered and graded by an independent testing service, in a fair and impartial manner, and without unfair discrimination as between individuals examined.
      3. (C) An oral or other type examination may for good cause be substituted for a written examination of the applicant on his or her written request, and if deemed necessary by any applicable laws, including, but not limited to, the Americans with Disabilities Act.
      4. (D) The commissioner shall require a waiting period of thirty (30) days before reexamination of an applicant.
   3. (6) The applicant for the title insurance license or renewal license shall be required to annually complete continuing education hours as established in 23 CAR § 204-105.
   4. (7) The applicant shall be subject to a criminal background check as part of the application process.

3. (b) Application.

   1. (1)

      1. (A) Each applicant for the title insurance agent’s license shall complete and submit the written application form, in a format prescribed by or acceptable to the commissioner, accompanied by the:

         1. (i) Required notarized affidavit confirming title work experience of the applicant; and
         2. (ii) Requisite fees established by a separate rule.
      2. (B) Such fees shall be payable to “The State Insurance Department Trust Fund” and are nonrefundable.

   2. (2)

      1. (A) Each applicant must complete an Arkansas State Police Individual Record Check Form (ASP-122) using the applicant’s full name and attach it to the State Insurance Department’s application for exam permit.
      2. (B) The form must be signed and notarized by an Arkansas notary public.
      3. (C) Such fees shall be payable to “The State Insurance Department Trust Fund” and must be attached to the form.

      4. (D) Payment for the ASP-122 cannot be in the form of a personal check.

         1. (c) License issuance and annual renewal.

   3. (1)

      1. (A) The commissioner may issue the license for title insurance agents to individuals meeting all applicable qualifications of this part, including successful examinations and payment of proper fees.
      2. (B) The commissioner shall issue a license on a form prescribed to the title insurance agent upon successful completion of these requirements by the applicant.
      3. (C) The term of the title insurance agent license shall be one (1) year.
      4. (D) Within one (1) year from issuance date, the license shall be renewable on or before the licensee's birthday, and annually on the birthday thereafter.
      5. (E) For an agency license, the renewal date will be a date certain.

   4. (2) The title insurance agent shall remit the annual renewal fee and Administrative and Regulatory Fees, 23 CAR pt. 22, as required in Acts 1997, No. 1004, on or before the licensee’s renewal date, under 23 CAR § 204-106, to the department made payable to “The State Insurance Department Trust Fund”.

      1. (d) License continuation.

   5. (1)

      1. (A) Licenses of individual persons granted title insurance agent licenses prior to the effective date of this part shall continue in full force and effect, but subject to the provisions of this part, including applicable residency requirements, and without the necessity to requalify hereunder except as to the effect or impact of licensing provisions as to felons under Acts 1997, No. 217, codified as Arkansas Code § 23-66-501 et seq.
      2. (B) Current licensees shall be subject to a criminal background check.

   6. (2)

      1. (A) A title insurance agent who allows his or her license to lapse may reinstate the same license within twelve (12) months after the due date of the renewal fee without the necessity of passing a written examination.
      2. (B) However, a penalty in the amount of double the unpaid renewal fee shall be required for any renewal fee received after the due date.

   7. (3)

      1. (A) A licensed title insurance agent who is unable to comply with license renewal procedures due to military service or some other extenuating circumstance may request a waiver of those procedures.
      2. (B) The request must specify the grounds to be relied upon as a basis for the waiver.
4. (e) Laws applicable. Except where they conflict with the Arkansas Title Insurance Act, Arkansas Code § 23-103-401 et seq., or this part, title insurance agents will also be subject to the applicable provisions of the Arkansas Insurance Code, Arkansas Code § 23-64-101 et seq., and other department rules pertaining to insurance producers.

Codification Notes: The Americans with Disabilities Act is codified generally at 42 U.S.C. § 12101 et seq.