Ark. Code Ann. § 23-87-108

Amount

Known as the Model Act

The act spans §§ 23–23 (19 sections).

Applied in 1 court decision — leading case 687 So. 2d 156 - McCullar v. UNIV. UNDERWRITERS LIFE INS. (1996)

Most recently applied in 687 So. 2d 156 - McCullar v. UNIV. UNDERWRITERS LIFE INS. (November 1996)

Acts 1959, No. 148, § 432; A.S.A. 1947, § 66-3806; Acts 2003, No. 1794, § 1.

(1) Credit Life Insurance. The amount of credit life insurance shall not exceed the original amount of the indebtedness and any interest included therein.

(2) Credit Disability Insurance. The amount of periodic indemnity payable by credit disability insurance in the event of disability, as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of indebtedness and shall not exceed the original indebtedness and any interest included therein divided by the number of periodic installments.

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.