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23-79-122. Negotiability of premium notes.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-79-122. Negotiability of premium notes.
(a)(1) No note given for premiums on insurance in this state shall be negotiated until the policy for which the note was given has been issued and delivered to the maker of the note, and all notes so given shall state the purpose for which the note was given.
(2) However, this subsection shall not be applicable in cases in which the policy is issued or approved in the form and at the rate applied for and the coverage is effective prior to the issuance or approval.
(b) Nothing in this section shall be construed in any way to invalidate these notes between the payee and payor, and notes when they become negotiable shall in all respects be as other negotiable paper.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-79-122
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:23-79-122
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 894d0855cd88c6a80c4737bfbed11f9933f66d1286bf21340f732ecec34ba945
Source location: content.xml paragraph 45293
Stored source content
23-79-122. Negotiability of premium notes.
(a)(1) No note given for premiums on insurance in this state shall be negotiated until the policy for which the note was given has been issued and delivered to the maker of the note, and all notes so given shall state the purpose for which the note was given.
(2) However, this subsection shall not be applicable in cases in which the policy is issued or approved in the form and at the rate applied for and the coverage is effective prior to the issuance or approval.
(b) Nothing in this section shall be construed in any way to invalidate these notes between the payee and payor, and notes when they become negotiable shall in all respects be as other negotiable paper.
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