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16-66-209. Exemption — Proceeds of life, health, accident, and disability insurance — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
16-66-209. Exemption — Proceeds of life, health, accident, and disability insurance — Definition.
(a) To the extent permitted by the Arkansas Constitution, all moneys paid or payable to any resident of this state under an insurance policy providing for the payment of life, sick, accident, or disability benefits shall be exempt from liability or seizure under judicial process of any court and shall not be subjected to the payment of any debt by contract or otherwise by any writ, order, judgment, or decree of any court.
(b) As used in this section, “moneys” means a payment made under an insurance policy to compensate:
(1) The insured or beneficiary for a claim under the policy; or
(2) The owner, insured, or beneficiary for the cash surrender value of the policy.
(c) Nothing in this section shall be construed to affect the validity of any sale, assignment, mortgage, pledge, or hypothecation of a policy of insurance or the avails, proceeds, or benefits of a policy of insurance.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 16-66-209
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:16-66-209
Source file: gov.ar.code.title.16.odt
Pages: Not recorded – Not recorded
Passage SHA-256: acc7ae590d5cf7fc772475da7bde3979d9fd0b143b74ed3d71925a40b05ac839
Source location: content.xml paragraph 26177
Stored source content
16-66-209. Exemption — Proceeds of life, health, accident, and disability insurance — Definition.
(a) To the extent permitted by the Arkansas Constitution, all moneys paid or payable to any resident of this state under an insurance policy providing for the payment of life, sick, accident, or disability benefits shall be exempt from liability or seizure under judicial process of any court and shall not be subjected to the payment of any debt by contract or otherwise by any writ, order, judgment, or decree of any court.
(b) As used in this section, “moneys” means a payment made under an insurance policy to compensate:
(1) The insured or beneficiary for a claim under the policy; or
(2) The owner, insured, or beneficiary for the cash surrender value of the policy.
(c) Nothing in this section shall be construed to affect the validity of any sale, assignment, mortgage, pledge, or hypothecation of a policy of insurance or the avails, proceeds, or benefits of a policy of insurance.
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