Disclosure Of Representation By Party(ies) Or Entity(ies)

ARKANSAS INSURANCE DEPARTMENT LEGAL DIVISION 1200 West Third Street Little Rock, AR 72201-1904 501-371-2820 FAX 501-371-2629 DIRECTIVE 3-99 June 30, 1999 TO: ALL LAW FIRM FILINGS AND MATTERS WITH THE ARKANSAS INSURANCE DEPARTMENT FROM: ARKANSAS INSURANCE DEPARTMENT SUBJECT: DISCLOSURE OF REPRESENTATION BY PARTY(IES) OR ENTITY(IES) In all filings and matters presented to this Department in which more than one party or entity is directly involved, and at least one of those parties or entities is represented by counsel, there shall be included with the filing or matter a clearly worded disclosure indicating which party(ies) or entity(ies) are represented, and by whom. In the event any one attorney or firm is representing more than one of the parties or entities involved, and the interests of those parties present an actual or potential conflict of interest (such as the buyer and the seller in an acquisition), then the attorney shall also file with the Department a waiver document, signed by the attorney and the parties concerned, which states that they have been made aware of the potential or actual conflict presented by the dual representation, and do not object to same. The filing of the Waiver does not automatically foreclose any further action on the question by the Commissioner, and in certain cases in which the interests of justice so dictate, the Commissioner may decline to allow the dual or multiple representation, and may suspend the proceedings in order for some or all of the parties to secure independent representation. ______________________________ Mike Pickens Insurance Commissioner