Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Subchapter 1 - General Provisions
§ 23-81-101. Title required - There shall be a title on the policy briefly describing...
§ 23-81-102. Scope - (a) This section, §§ 23-81-101, 23-81-103 — 23-81-117, 23-81-120 —...
§ 23-81-103. Life insurance — Standard provisions required - (a) No policy of life insurance, other than credit life,...
§ 23-81-104. Life insurance — Grace period provision - (a) There shall be a provision that a grace period...
§ 23-81-105. Life insurance — Incontestability provision - There shall be a provision that, except for fraud in...
§ 23-81-106. Life insurance — Integrity of contract and alteration of contract provisions - (a) There shall be a provision that the policy, or...
§ 23-81-107. Life insurance — Misstatement of age provision - (a) There shall be a provision that if the age...
§ 23-81-108. Life insurance — Dividend provision - (a) There shall be a provision in participating policies that,...
§ 23-81-109. Life insurance — Adjustment of loan interest rates provision - (a) Purpose. The purpose of this section is to permit...
§ 23-81-110. Life insurance — Table of installments provision - In case the policy provides that the proceeds may be...
§ 23-81-111. Life insurance — Reinstatement provision - There shall be a provision that unless the policy has...
§ 23-81-112. Life insurance — Payment of premiums provision - There shall be a provision relative to the payment of...
§ 23-81-113. Life insurance — Payment of claims provision - (a) There shall be a provision that when a policy...
§ 23-81-114. Life insurance — Excluded or restricted coverage clauses limited - A clause in any policy of life insurance providing that...
§ 23-81-115. Life insurance — Limitation of liability - (a) No policy of life insurance shall be delivered or...
§ 23-81-116. Life insurance — Holding of proceeds - (a) Any life insurer shall have the power to hold...
§ 23-81-117. Life insurance — Indebtedness deducted from proceeds - In determining the amount due under any life insurance policy...
§ 23-81-118. Life insurance — Refund of certain premiums and payment of proceeds - (a) Upon the death of an insured, the proceeds payable...
§ 23-81-120. Life insurance — Unnamed beneficiaries prohibited - (a) No life insurance policy shall be issued or delivered...
§ 23-81-121. Annuity and pure endowment contracts — Standard provisions required - (a) No annuity or pure endowment contract, other than reversionary...
§ 23-81-122. Annuity and pure endowment contracts — Grace period provision - (a) In an annuity or pure endowment contract, other than...
§ 23-81-123. Annuity and pure endowment contracts — Incontestability provision - If any statements, other than those relating to age, sex,...
§ 23-81-124. Annuity and pure endowment contracts — Integrity of contract provision - In an annuity or pure endowment contract, other than a...
§ 23-81-125. Annuity and pure endowment contracts — Misstatement of age provision - In an annuity or pure endowment contract, other than reversionary,...
§ 23-81-126. Annuity and pure endowment contracts — Dividend provision - If an annuity or pure endowment contract, other than a...
§ 23-81-127. Annuity and pure endowment contracts — Reinstatement provision - In an annuity or pure endowment contract, other than a...
§ 23-81-128. Reversionary annuities — Standard provisions required - (a) Except as stated in this section, no contract for...
§ 23-81-129. Incontestability of life insurance policy or annuity contract after reinstatement - The reinstatement of any policy of life insurance or annuity...
§ 23-81-130. Registered life insurance policies and annuity contracts — Deposit of reserves - (a) A domestic life insurer existing on January 1, 1960,...
§ 23-81-131. Registered life insurance policies and annuity contracts — Certificate - (a) (1) After making the deposit mentioned in § 23-81-130,...
§ 23-81-132. Registered life insurance policies and annuity contracts — Valuation - (a) The insurer shall prepare and keep such records of...
§ 23-81-133. Registered life insurance policies and annuity contracts — Mutilated or surrendered policies - The Insurance Commissioner shall cancel mutilated or surrendered policies, annuity...
§ 23-81-134. Registered life insurance policies and annuity contracts — Maintenance of deposit — Commissioner's duty to issue certificate - (a) (1) Each insurer that has made the deposit provided...
§ 23-81-135. Registered life insurance policies and annuity contracts — Credit of certain deposits - A domestic life insurer which has made a deposit as...
§ 23-81-136. Registered life insurance policies and annuity contracts — Deficiency of deposit - (a) If at any time the value of the securities...
Subchapter 2 - Standard Nonforfeiture Law for Life Insurance
§ 23-81-201. Title - This subchapter shall be known and may be cited as...
§ 23-81-202. Applicability - (a) This subchapter shall not apply to any of the...
§ 23-81-203. Nonforfeiture provisions - (a) In the case of policies issued on and after...
§ 23-81-204. Cash surrender value - (a) Any cash surrender value available under the policy in...
§ 23-81-205. Certain paid-up benefits - Any paid-up nonforfeiture benefit available under the policy in the...
§ 23-81-206. Calculation of adjusted premiums and present values issued before operative date of § 23-81-213(d) - (a) (1) This section shall not apply to policies issued...
§ 23-81-207. Calculation of adjusted premiums and present values — Ordinary policies issued on or after operative date of § 23-81-213(b) - (a) In the case of ordinary policies issued on or...
§ 23-81-208. Calculation of adjusted premiums and present values — Industrial policies issued on or after operative date of § 23-81-213(c) - (a) In the case of industrial policies issued on or...
§ 23-81-209. Calculation of adjusted premiums and present values — All policies issued on or after operative date of § 23-81-213(d) - (a) (1) This section shall apply to all policies issued...
§ 23-81-210. Calculation of future adjusted premiums - (a) In the case of any plan of life insurance...
§ 23-81-211. Calculation of certain cash surrender values and nonforfeiture benefits in event of default - (a) Any cash surrender value and any paid-up nonforfeiture benefit,...
§ 23-81-212. Calculation of cash surrender value in event of default - (a) In addition to all other applicable sections of this...
§ 23-81-213. Effective dates - (a) After January 1, 1960, any insurer may file with...
Subchapter 3 - Standard Nonforfeiture Law For Individual Deferred Annuities
§ 23-81-301. Title - This subchapter shall be known as the “Standard Nonforfeiture Law...
§ 23-81-302. Applicability - This subchapter shall not apply to any reinsurance, group annuity...
§ 23-81-303. Nonforfeiture requirements - (a) In the case of contracts issued on or after...
§ 23-81-304. Minimum values - (a) (1) Prior to July 15, 2006, a company may...
§ 23-81-305. Computation of present value - (a) Any paid-up annuity benefit available under a contract shall...
§ 23-81-306. Calculation of cash surrender values - (a) For contracts which provide cash surrender benefits, the cash...
§ 23-81-307. Calculation of paid-up annuity benefits - (a) For contracts which do not provide cash surrender benefits,...
§ 23-81-308. Maturity date - (a) For the purpose of determining the benefits calculated under...
§ 23-81-309. Disclosure of limited death benefits - Any contract which does not provide cash surrender benefits or...
§ 23-81-310. Inclusion of lapse-of-time considerations - Any paid-up annuity, cash surrender, or death benefits available at...
§ 23-81-311. Proration of values — Additional benefits - (a) For any contract which provides, within the same contract...
§ 23-81-312. Operative date - (a) After June 17, 1981, any insurer may file with...
§ 23-81-313. Rules - The Insurance Commissioner may adopt rules to implement the provisions...
Subchapter 4 - Variable Contracts
§ 23-81-401. Exceptions from Arkansas Insurance Code - (a) (1) All pertinent provisions of the Arkansas Insurance Code...
§ 23-81-402. Provisions for allocation of income - A domestic life insurance company may establish one (1) or...
§ 23-81-403. Contract provisions required - (a) Any contract providing benefits payable in variable amounts delivered...
§ 23-81-404. Licensure requirements for delivery of contracts - (a) No company shall deliver or issue for delivery within...
§ 23-81-405. Insurance Commissioner's authority to regulate - Notwithstanding any other provision of law, the Insurance Commissioner shall...
Subchapter 7 - Structured Settlement Protection Act
§ 23-81-701. Title - This subchapter shall be known and may be cited as...
§ 23-81-702. Definitions - As used in this subchapter: (1) “Annuity issuer” means an...
§ 23-81-703. Required disclosures to payee - Not less than three (3) days prior to the date...
§ 23-81-704. Approval of transfers of structured settlement payment rights - No direct or indirect transfer of structured settlement payment rights...
§ 23-81-705. Effects of transfer of structured settlement payment rights - Following a transfer of structured settlement payment rights under this...
§ 23-81-706. Procedure for approval of transfers - (a) An application under this subchapter for approval of a...
§ 23-81-707. General provisions — Construction - (a) The provisions of this subchapter may not be waived...
Subchapter 8 - Life Settlements Act
§ 23-81-801. Short title - This subchapter shall be known and may be cited as...
§ 23-81-802. Definitions - As used in this subchapter: (1) “Advertisement” means any written,...
§ 23-81-803. Licensing requirements - (a) A person, wherever located, shall not act as a...
§ 23-81-804. License suspension, revocation, or refusal to renew - (a) The Insurance Commissioner may suspend, revoke, or refuse to...
§ 23-81-805. Contract requirements - (a) A person shall not use any form of life...
§ 23-81-806. Reporting requirements and privacy - (a) (1) (A) For any policy settled within five (5)...
§ 23-81-807. Examination - (a) (1) When the Insurance Commissioner deems it reasonably necessary...
§ 23-81-808. Advertising - (a) (1) A broker or provider licensed pursuant to this...
§ 23-81-809. Disclosures to owners - (a) The provider or broker shall provide in writing in...
§ 23-81-810. Disclosure to insurer - (a) Without limiting the ability of an insurer from assessing...
§ 23-81-811. General rules - (a) A provider entering into a life settlement contract with...
§ 23-81-812. Authority to promulgate rules — Conflict of laws - (a) The Insurance Commissioner may promulgate rules implementing this subchapter...
§ 23-81-813. Prohibited practices - (a) It is unlawful for any person to: (1) Enter...
§ 23-81-814. Fraud prevention and control - (a) Fraudulent Life Settlement Act, Interference, and Participation of Convicted...
§ 23-81-815. Injunctions — Civil remedies — Cease and desist - (a) In addition to the penalties and other enforcement provisions...
§ 23-81-816. Penalties - (a) It is a violation of this subchapter for any...
§ 23-81-817. Unfair trade practices - A violation of §§ 23-81-801 — 23-81-816 shall be considered...
§ 23-81-818. Effective date - (a) (1) A provider lawfully transacting business in this state...
Subchapter 9 - Unclaimed Life Insurance Benefits Act
§ 23-81-901. Title - This subchapter shall be known and may be cited as...
§ 23-81-902. Legislative intent - The General Assembly intends for this subchapter to: (1) Recognize...
§ 23-81-903. Definitions - As used in this subchapter: (1) (A) “Contract” means an...
§ 23-81-904. Insurer conduct - (a) An insurer shall make a good faith effort to...
§ 23-81-905. Unfair trade practices - (a) If an insurer fails to comply with this subchapter...