Each foreign insurer applying for a certificate of authority to transact business in Arkansas and every domestic reciprocal insurer must designate and continuously maintain in the state:
(1) A registered office that may be the same as any of its places of business; and
(2) A registered agent, who may be: An individual who resides in this state and whose business office is identical with the registered office;
(3) A state bank, domestic corporation, or not-for-profit corporation whose business office is identical with the registered office; or
(4) A foreign corporation or foreign not-for-profit corporation authorized to transact business in this state whose business office is identical with the registered office.
(5) On and after January 1, 2002, all foreign and alien insurers and all domestic reciprocal insurers holding a subsisting certificate of authority upon August 13, 2001, shall be subject to the provisions of this subchapter, and no later than January 1, 2003, shall file with the Insurance Commissioner the information required in this subchapter to designate an Arkansas-registered agent.
(6) In the event no registered agent has yet been selected and appointed on the commissioner's list for any foreign or alien insurer or domestic reciprocal insurer licensed by the commissioner, service may be processed through the commissioner as agent or by other methods of service provided under Arkansas law to be effective until a new registered agent has been appointed on the records of the commissioner.
(7) In this subchapter licensed foreign insurers shall be deemed to include licensed alien insurers.