Browse Arkansas Code titles and sections
23-101-109. Refund of unearned premiums.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-101-109. Refund of unearned premiums.
(a) Within sixty (60) calendar days after the termination of creditor-placed insurance coverage and in accordance with the formulas approved by the Insurance Commissioner, an insurer shall refund any unearned premium or other identifiable charges.
(b)(1) Within sixty (60) calendar days after the termination date of creditor-placed insurance coverage, the insurer shall provide to the debtor a statement of refund disclosing the effective date, the termination date, the amount of premium being refunded, and the amount of premium charged for the coverage provided.
(2) No statement shall be required in the event that the policy terminates pursuant to § 23-101-105(b)(4).
(c) The entire amount of premiums, minimum premiums, and fees or charges of any kind shall be refunded if no coverage was provided.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-101-109
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:23-101-109
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6cffde66c0ce4a1588d61a4b6036cf088eb0bcaf6fc60852b865d161216cb5db
Source location: content.xml paragraph 60325
Stored source content
23-101-109. Refund of unearned premiums.
(a) Within sixty (60) calendar days after the termination of creditor-placed insurance coverage and in accordance with the formulas approved by the Insurance Commissioner, an insurer shall refund any unearned premium or other identifiable charges.
(b)(1) Within sixty (60) calendar days after the termination date of creditor-placed insurance coverage, the insurer shall provide to the debtor a statement of refund disclosing the effective date, the termination date, the amount of premium being refunded, and the amount of premium charged for the coverage provided.
(2) No statement shall be required in the event that the policy terminates pursuant to § 23-101-105(b)(4).
(c) The entire amount of premiums, minimum premiums, and fees or charges of any kind shall be refunded if no coverage was provided.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-101-105. Term of insurance policy.
(a) Creditor-placed insurance shall become effective on the latest of the following dates:
(1) The date of the credit transaction;
(2) The date prior coverage, including prior creditor-placed insurance coverage, lapsed;
(3) One (1) year before the date on which the related insurance charge is made to the debtor's account; or
(4) A later date provided for in the agreement between the creditor and insurer.
(b) Creditor-placed insurance shall terminate on the earliest of the following dates:
(1) The date other acceptable insurance becomes effective, subject to the debtor's providing acceptable evidence of the other insurance to the creditor;
(2) The date the collateralized personal property is repossessed, unless the property is returned to the debtor within ten (10) days of the repossession;
(3) The date the collateralized personal property is determined by the insurer to be a total loss;
(4) The date the debt is completely extinguished; or
(5) An earlier date specified in the individual policy or certificate of insurance.
(c) An insurance charge shall not be made to a debtor for a term longer than the scheduled term of the creditor-placed insurance when it becomes effective, nor may an insurance charge be made to the debtor for creditor-placed insurance before the effective date of the insurance.
(d) If a charge is made to a debtor for creditor-placed insurance coverage that exceeds a term of one (1) year, the debtor shall be notified at least annually that the insurance will be canceled and a refund or credit of unearned charges made if evidence of acceptable insurance secured by the debtor is provided.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-101-105
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. The source passage cites 23-101-105. This identifies an authority to review, not proof of applicability.