Arkansas § 23-79-132 Exemption of proceeds - Group life

Arkansas Statutes

§ 23-79-132 — Exemption of proceeds - Group life

Arkansas § 23-79-132

Title23

This text of Arkansas § 23-79-132 (Exemption of proceeds - Group life) 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. § 23-79-132 (2026).

Text

(a)(1) A policy of group life insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder shall not be liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liability of the insured individual, or his or her beneficiary, or of any other person having a right under the policy.

(2)The proceeds of the policy, when not made payable to a named beneficiary or to a third person pursuant to a facility-of-payment clause, shall not constitute a part of the estate of the individual insured for the payment of his or her debts.

(b)This section shall not apply to group life insurance issued pursuant to § 23-83-106 to a creditor covering his or her debtors to the extent that the proceeds are applied to paymen

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(a) (1) A policy of group life insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder shall not be liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liability of the insured individual, or his or her beneficiary, or of any other person having a right under the policy. (2) The proceeds of the policy, when not made payable to a named beneficiary or to a third person pursuant to a facility-of-payment clause, shall not constitute a part of the estate of the individual insured for the payment of his or her debts. (b) This section shall not apply to group life insurance issued pursuant to § 23-83-106 to a creditor covering his or her debtors to the extent that the proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.