23-96-121. Reissuance of terminated coverage.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-96-121. Reissuance of terminated coverage.

23-96-121. Reissuance of terminated coverage. (a) If the Arkansas Life and Health Insurance Guaranty Association elects to reissue terminated coverage at a premium rate different from that charged under the terminated policy or contract, the premium shall be actuarially justified and set by the association according to the amount of insurance or coverage provided and the age and class of risk, subject to prior approval of the Insurance Commissioner. (b) The association's obligations with respect to coverage under any policy or contract of the impaired insurer or insolvent insurer or under any reissued or alternative policy or contract shall cease on the date the coverage or policy or contract is replaced by another similar policy or contract by the policy or contract owner, the insured, the enrollee, or the association.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-96-121

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.