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Ark. Code Ann. § 23-83-109

Provisions required in policy

Applied in 6 court decisions — leading case Dodson v. J.C. Penney Co. (2003)

Most recently applied in Kendall Dodson Dennis D. Dodson Jerry Dodson Loyal S. Dodson v. J.C. Penney Company, Inc. J.C. Penney Life Insurance Company (September 2003)

Acts 1981, No. 898, § 9; A.S.A. 1947, § 66-3509.

(1) No policy shall be delivered in this state unless it contains in substance the following provisions, or provisions which in the opinion of the Insurance Commissioner are more favorable to the persons insured, or at least as favorable to the persons insured and more favorable to the policyholder.

(2) However: Provisions in §§ 23-83-115 — 23-83-119 shall not apply to policies insuring the lives of debtors;

(3) The standard provisions required for individual policies shall not apply to group policies; and

(4) If the group policy is an annuity policy or is a life insurance policy on a plan of insurance other than the term plan, it shall contain a nonforfeiture provision which in the opinion of the commissioner is equitable to the insured persons and to the policyholder, but nothing in this subdivision (b)(3) shall be construed to require that group policies contain the same nonforfeiture provisions as are required for individual policies.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.