Arkansas Statutes
§ 23-79-132 — Exemption of proceeds - Group life
Arkansas·Title 23
(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
Free access — add to your briefcase to read the full text and ask questions with AI
Arkansas § 23-79-132 (Exemption of proceeds - Group life) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1959, No. 148, § 296; A.S.A. 1947, § 66-3229.
Nearby Sections
15
§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
Citizens band radio equipment