Arkansas Statutes
§ 23-81-113 — Life insurance - Payment of claims provision
Arkansas·Title 23
(a)There shall be a provision that when a policy shall become a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer's option, surrender of the policy or proof of the interest of the claimant, or both surrender and proof.
(b)If any insurer shall specify a particular period prior to the expiration of which settlement shall be made, the period shall not exceed two (2) months from the receipt of the proofs.
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Related
Rose Nell McKee v. Federal Kemper Life Assurance Company
927 F.2d 326 (Eighth Circuit, 1991)
Minnesota Mutual Life Insurance v. Looney
935 S.W.2d 3 (Court of Appeals of Arkansas, 1996)
Legislative History
Acts 1959, No. 148, § 321; A.S.A. 1947, § 66-3312.
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
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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
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