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23-83-108. Restrictions on coverage of spouse and dependent children of group member.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-83-108. Restrictions on coverage of spouse and dependent children of group member.
Except for a policy issued under § 23-83-105(a), a group policy, excluding an annuity policy, may be extended to insure the employees or members against loss due to the death of their spouses and dependent children or any classes thereof, subject to the following:
(1)(A) The premium for the insurance shall be paid either from funds contributed by the employer, union, association, or other person to whom the policy has been issued or from funds contributed by the covered persons, or from both.
(B) Except as provided in subdivision (2) of this section, a policy on which no part of the premium for the spouse's and dependent child's coverage is to be derived from funds contributed by the covered persons must insure all eligible employees or members with respect to their spouses and dependent children or any class or classes thereof unless rejected in writing by the employee or member; and
(2) An insurer may exclude or limit the coverage on any spouse or dependent child as to whom evidence of individual insurability is not satisfactory to the insurer.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-83-108
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:23-83-108
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: da2dbdab40e0dbcde381f318860e6a5f34a28f92556e2d6bb4ef7a08cbf25a26
Source location: content.xml paragraph 50456
Stored source content
23-83-108. Restrictions on coverage of spouse and dependent children of group member.
Except for a policy issued under § 23-83-105(a), a group policy, excluding an annuity policy, may be extended to insure the employees or members against loss due to the death of their spouses and dependent children or any classes thereof, subject to the following:
(1)(A) The premium for the insurance shall be paid either from funds contributed by the employer, union, association, or other person to whom the policy has been issued or from funds contributed by the covered persons, or from both.
(B) Except as provided in subdivision (2) of this section, a policy on which no part of the premium for the spouse's and dependent child's coverage is to be derived from funds contributed by the covered persons must insure all eligible employees or members with respect to their spouses and dependent children or any class or classes thereof unless rejected in writing by the employee or member; and
(2) An insurer may exclude or limit the coverage on any spouse or dependent child as to whom evidence of individual insurability is not satisfactory to the insurer.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-83-105. Debtor groups and credit union groups.
(a) Excluding an annuity policy, a policy issued to a creditor or its parent holding company or to a trustee or agent designated by two (2) or more creditors, which creditor, holding company, affiliate, trustee, or agent shall be deemed the policyholder, to insure debtors of the creditor, or creditors, subject to the following requirements:
(1) The debtors eligible for insurance under the policy shall be all of the debtors of the creditor, or all of any classes thereof. The policy may provide that the term “debtor” shall include:
(A) Borrowers of money or purchasers or lessees of goods, services, or property for which payment is arranged through a credit transaction;
(B) The debtors of one (1) or more subsidiary corporations; and
(C) The debtors of one (1) or more affiliated corporations, proprietorships, or partnerships if the business of the policyholder and of the affiliated corporations, proprietorships, or partnerships is under common control;
(2)(A) The premium for the policy shall be paid either from the creditor's funds or from charges collected from the insured debtors, or from both.
(B) Except as provided in subdivision (a)(3) of this section, a policy on which no part of the premium is to be derived from funds contributed by insured debtors specifically for their insurance must insure all eligible debtors;
(3) An insurer may exclude any debtors as to whom evidence of individual insurability is not satisfactory to the insurer;
(4) The amount of the insurance on the life of any debtor shall at no time exceed the greater of the scheduled or actual amount of unpaid indebtedness to the creditor;
(5) The insurance may be payable to the creditor or any successor to the right, title, and interest o
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-83-105
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 23-83-105. This identifies an authority to review, not proof of applicability.