Arkansas § 23-79-122 Negotiability of premium notes

Arkansas Statutes

§ 23-79-122 — Negotiability of premium notes

Arkansas § 23-79-122

Title23

This text of Arkansas § 23-79-122 (Negotiability of premium notes) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 23-79-122 (2026).

Text

(a)(1) No note given for premiums on insurance in this state shall be negotiated until the policy for which the note was given has been issued and delivered to the maker of the note, and all notes so given shall state the purpose for which the note was given.

(2)However, this subsection shall not be applicable in cases in which the policy is issued or approved in the form and at the rate applied for and the coverage is effective prior to the issuance or approval.

(b)Nothing in this section shall be construed in any way to invalidate these notes between the payee and payor, and notes when they become negotiable shall in all respects be as other negotiable paper.

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(a) (1) No note given for premiums on insurance in this state shall be negotiated until the policy for which the note was given has been issued and delivered to the maker of the note, and all notes so given shall state the purpose for which the note was given. (2) However, this subsection shall not be applicable in cases in which the policy is issued or approved in the form and at the rate applied for and the coverage is effective prior to the issuance or approval. (b) Nothing in this section shall be construed in any way to invalidate these notes between the payee and payor, and notes when they become negotiable shall in all respects be as other negotiable paper.