Browse Arkansas Code titles and sections
23-81-102. Scope.
Arkansas Code — all titles (historical 2020) · legal_authorities
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 to contracts of life insurance and annuities, other than reinsurance, group life insurance, group annuities, and industrial life insurance.
(b) However, the following statutes shall also apply to industrial life insurance:
(1) Section 23-81-114, excluded or restricted coverage;
(2) Section 23-81-115, limitation of liability;
(3) Section 23-81-129, incontestability after reinstatement;
(4) Section 23-81-120, prohibited policy plans; and
(5) The Standard Nonforfeiture Law for Life Insurance, § 23-81-201 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-102
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:23-81-102
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 76bb7f76549cfa9ba555166ea5118340019f7fd40c74b23bad2962b9f2b3c4c6
Source location: content.xml paragraph 48608
Stored source content
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 to contracts of life insurance and annuities, other than reinsurance, group life insurance, group annuities, and industrial life insurance.
(b) However, the following statutes shall also apply to industrial life insurance:
(1) Section 23-81-114, excluded or restricted coverage;
(2) Section 23-81-115, limitation of liability;
(3) Section 23-81-129, incontestability after reinstatement;
(4) Section 23-81-120, prohibited policy plans; and
(5) The Standard Nonforfeiture Law for Life Insurance, § 23-81-201 et seq.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-101. Title required.
There shall be a title on the policy briefly describing it.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-101
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 23-81-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
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 and interest, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions required by §§ 23-81-101 and 23-81-104 — 23-81-112.
(b) This section shall not apply to annuity contracts nor to any provision of a life insurance policy, or contract supplemental thereto, relating to disability benefits or to additional benefits in the event of death by accident or accidental means.
(c) Any of the provisions or portions thereof not applicable to single premium or term policies shall to that extent not be incorporated therein.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-103
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 23-81-103. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
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 the current policy year due under the terms of the policy; and
(2) The amount of principal and accrued interest of any policy loan or other indebtedness against the policy then remaining unpaid.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-117
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 23-81-117. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
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 named therein, the owner or beneficiary of the policy shall receive the payment or granting of anything of value.
(b) This provision shall not be deemed to prohibit:
(1) The payment to policyholders or beneficiaries of sums representing in whole or in part gains to the insurer from mortality either in general or as resulting from particular classifications of policies;
(2) Family policies insuring unspecified members of a family; or
(3) Payments to unspecified beneficiaries of a class named by the insured.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-120
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 23-81-120. This identifies an authority to review, not proof of applicability.