Arkansas Dive Flags
Rules for AR divers and boaters
For Divers in Arkansas
According to the Boat-Ed page for Diver Down Flags in Alabama:
Those involved in spear fishing in Arkansas state waters must display a "diver down" flag and stay within 300 feet of the displayed flag.
For Boaters in Arkansas
According to General Boating Regulations for Arkansas:
A diver's flag means that scuba divers are in the water nearby. Slow down and use caution within 100 yards of a flag. Avoid operating a boat in the vicinity of a diver's flag.
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P.S. The information above was as complete and up-to-date at the time as I could make it. It should not be construed as providing legal advice. You should conduct your own legal research or contact an attorney.