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23-83-125. Assignment of rights or incidents of ownership.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-83-125. Assignment of rights or incidents of ownership.
Nothing in §§ 23-83-101 — 23-83-124 shall prohibit a person who is insured under any group policy from making an assignment or otherwise disposing of all or any part of his or her rights or incidents of ownership under the policy.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-83-125
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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Stable record: arkansas_code:legal_authorities:23-83-125
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 60d3fde85b9baa1d2352a188bc8b2dd28670b63e0805aa931bf0f1957fdc9b4c
Source location: content.xml paragraph 50634
Stored source content
23-83-125. Assignment of rights or incidents of ownership.
Nothing in §§ 23-83-101 — 23-83-124 shall prohibit a person who is insured under any group policy from making an assignment or otherwise disposing of all or any part of his or her rights or incidents of ownership under the policy.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-83-101. Group contracts must meet group requirements.
(a) Except when specifically provided otherwise, “policy” as used in this chapter shall include both life insurance and annuities.
(b)(1) No policy shall be delivered in this state insuring the lives of more than one (1) individual with or without one (1) or more members of the family or one (1) or more dependents, or covering one (1) or more members of the family or one (1) or more dependents of the group of persons, unless to one (1) of the groups as provided for in §§ 23-83-102 — 23-83-107 and unless in compliance with the other applicable provisions of this chapter.
(2) Subdivision (b)(1) of this section shall not apply to policies:
(A) Insuring only individuals related by blood, marriage, or legal adoption;
(B) Insuring only individuals having a common interest through ownership of a business enterprise, or a substantial legal interest or equity therein, and who are actively engaged in the management thereof; or
(C) Insuring only individuals otherwise having an insurable interest in each other's lives.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-83-101
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 23-83-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-83-124. Group insurance in unauthorized insurer.
(a) Any employer in this state withholding or collecting any money from employees who are residents of this state for any group life, annuity, or accident and health insurance placed with an unauthorized insurer in violation of § 23-83-123 shall be deemed to be the agent of the insurer for the purpose of service of process in any action brought by any employee on the insurance contract.
(b) If the employee is unable to collect a judgment entered in an action against the unauthorized insurer, then the employer referred to in subsection (a) of this section shall be liable for the judgment.
(c) An unauthorized insurer shall be deemed to be doing business in this state for the purpose of service of process in any action.
(d) This section shall not apply to group insurance lawfully placed in an insurer as a surplus line under § 23-65-101 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-83-124
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 23-83-124. This identifies an authority to review, not proof of applicability.