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23-83-110. Grace period for payment of premium provision.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-83-110. Grace period for payment of premium provision.
(a) Excluding an annuity policy, the group policy shall contain a provision that the policyholder is entitled to a grace period of thirty-one (31) days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force unless the policyholder shall have given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy.
(b) The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such a grace period.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-83-110
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:23-83-110
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ac876bc8e92b1dc8965cfece8c2f96a2b800c48270eeb07051ab007a706a97ca
Source location: content.xml paragraph 50477
Stored source content
23-83-110. Grace period for payment of premium provision.
(a) Excluding an annuity policy, the group policy shall contain a provision that the policyholder is entitled to a grace period of thirty-one (31) days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force unless the policyholder shall have given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy.
(b) The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such a grace period.
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