Ark. Code Ann. § 23-93-203: License not transferable - Limitation on contracts

(a) No license is transferable, and no license issued pursuant to this subchapter has value for sale or exchange as property.

(b) No provider or other owning entity shall sell or transfer ownership of the facility or enter into a contract with a third-party provider for management of the facility unless the State Insurance Department approves such a transfer or contract.