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29.0405 Representing or aiding insured in effecting insurance on property or risk in unauthorized state.

Cite as [A.S.C.A. § 29.0405]

No person, corporation, association, or partnership may make, negotiate for or place, or aid in negotiating or placing, any insurance contract in this territory for another who is an applicant for insurance covering any property or risk in another state, territory, or district of the United States with any insurer not authorized to transact insurance business in the state, territory, or district wherein such property or risk or any part thereof is located.

History: 1974, PL 13-58 § 1.