Arkansas Code Title 23, Subtitle 3, Chapter 81, Subchapter 1 - General Provisions
- § 23-81-101 - Title Required.
There shall be a title on the policy briefly describing it.
- § 23-81-102 - Scope.
(a) This section, §§ 23-81-101, 23-81-103 -- 23-81-117, 23-81-120 -- 23-81-136, and the Standard Nonforfeiture Law for Life Insurance, § 23-81-201 et seq., apply...
- § 23-81-103 - Life Insurance -- Standard Provisions Required.
(a) No policy of life insurance, other than credit life, industrial, group, and pure endowments with or without return of premiums or of premiums...
- § 23-81-104 - Life Insurance -- Grace Period Provision.
(a) There shall be a provision that a grace period of thirty (30) days, or, at the option of the insurer, of one (1)...
- § 23-81-105 - Life Insurance -- Incontestability Provision.
There shall be a provision that, except for fraud in the procurement, the policy, exclusive of provisions relating to disability benefits or to additional...
- § 23-81-106 - Life Insurance -- Integrity of Contract and Alteration of Contract Provisions.
(a) There shall be a provision that the policy, or the policy and the application therefor if a copy of the application is endorsed...
- § 23-81-107 - Life Insurance -- Misstatement of Age Provision.
(a) There shall be a provision that if the age of the insured or of any other person whose age is considered in determining...
- § 23-81-108 - Life Insurance -- Dividend Provision.
(a) There shall be a provision in participating policies that, beginning not later than the end of the third policy year, the insurer shall...
- § 23-81-109 - Life Insurance -- Adjustment of Loan Interest Rates Provision.
(a) Purpose. The purpose of this section is to permit and set guidelines for life insurers to include in life insurance policies issued after...
- § 23-81-110 - Life Insurance -- Table of Installments Provision.
In case the policy provides that the proceeds may be payable in installments which are determinable at issue of the policy, there shall be...
- § 23-81-111 - Life Insurance -- Reinstatement Provision.
There shall be a provision that unless the policy has been surrendered for its cash surrender value or its cash surrender value has been...
- § 23-81-112 - Life Insurance -- Payment of Premiums Provision.
There shall be a provision relative to the payment of premiums.
- § 23-81-113 - Life Insurance -- Payment of Claims Provision.
(a) There shall be a provision that when a policy shall become a claim by the death of the insured, settlement shall be made...
- § 23-81-114 - Life Insurance -- Excluded or Restricted Coverage Clauses Limited.
A clause in any policy of life insurance providing that the policy shall be incontestable after a specified period shall preclude only a contest...
- § 23-81-115 - Life Insurance -- Limitation of Liability.
(a) No policy of life insurance shall be delivered or issued for delivery in this state if it contains any of the following provisions:...
- § 23-81-116 - Life Insurance -- Holding of Proceeds.
(a) Any life insurer shall have the power to hold under agreement the proceeds of any policy issued by it, upon such terms and...
- § 23-81-117 - Life Insurance -- Indebtedness Deducted From Proceeds.
In determining the amount due under any life insurance policy issued, deduction may be made of: (1) Any unpaid premiums or installments thereof for...
- § 23-81-118 - Life Insurance -- Refund of Certain Premiums and Payment of Proceeds.
(a) Upon the death of an insured, the proceeds payable to the beneficiary under any policy of individual life insurance, delivered or issued for...
- § 23-81-119 - [Repealed.]
- § 23-81-120 - Life Insurance -- Unnamed Beneficiaries Prohibited.
(a) No life insurance policy shall be issued or delivered in this state if it provides that on the death of anyone not specifically...
- § 23-81-121 - Annuity and Pure Endowment Contracts -- Standard Provisions Required.
(a) No annuity or pure endowment contract, other than reversionary annuities, survivorship annuities, or group annuities and except as stated in this section, shall...
- § 23-81-122 - Annuity and Pure Endowment Contracts -- Grace Period Provision.
(a) In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that there shall...
- § 23-81-123 - Annuity and Pure Endowment Contracts -- Incontestability Provision.
If any statements, other than those relating to age, sex, and identity, are required as a condition to issuing an annuity or pure endowment...
- § 23-81-124 - Annuity and Pure Endowment Contracts -- Integrity of Contract Provision.
In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract shall...
- § 23-81-125 - Annuity and Pure Endowment Contracts -- Misstatement of Age Provision.
In an annuity or pure endowment contract, other than reversionary, survivorship, or group annuity, there shall be a provision that if the age of...
- § 23-81-126 - Annuity and Pure Endowment Contracts -- Dividend Provision.
If an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, is participating, there shall be a provision that the...
- § 23-81-127 - Annuity and Pure Endowment Contracts -- Reinstatement Provision.
In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract may...
- § 23-81-128 - Reversionary Annuities -- Standard Provisions Required.
(a) Except as stated in this section, no contract for a reversionary annuity shall be delivered or issued for delivery in this state unless...
- § 23-81-129 - Incontestability of Life Insurance Policy or Annuity Contract After Reinstatement.
The reinstatement of any policy of life insurance or annuity contract delivered or issued for delivery in this state may be contested on account...
- § 23-81-130 - Registered Life Insurance Policies and Annuity Contracts -- Deposit of Reserves.
(a) A domestic life insurer existing on January 1, 1960, may deposit and shall thereafter maintain on deposit with the Insurance Commissioner securities and...
- § 23-81-131 - Registered Life Insurance Policies and Annuity Contracts -- Certificate.
(a) (1) After making the deposit mentioned in § 23-81-130, the insurer shall not thereafter issue a registered policy life insurance or of endowment,...
- § 23-81-132 - Registered Life Insurance Policies and Annuity Contracts -- Valuation.
(a) The insurer shall prepare and keep such records of all registered policies, bonds, or contracts issued by it and subject to § 23-81-131...
- § 23-81-133 - Registered Life Insurance Policies and Annuity Contracts -- Mutilated or Surrendered Policies.
The Insurance Commissioner shall cancel mutilated or surrendered policies, annuity bonds, and contracts issued by any insurers subject to § 23-81-130 when surrendered to...
- § 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 for under § 23-81-130 shall make additional deposits from time to time in amounts...
- § 23-81-135 - Registered Life Insurance Policies and Annuity Contracts -- Credit of Certain Deposits.
A domestic life insurer which has made a deposit as to reserves pursuant to § 23-81-130 and which has also heretofore made a similar...
- § 23-81-136 - Registered Life Insurance Policies and Annuity Contracts -- Deficiency of Deposit.
(a) If at any time the value of the securities and assets held on deposit as to a particular insurer under § 23-81-130 is...
Last modified: November 15, 2016