Arkansas Statutes
§ 23-81-125 — Annuity and pure endowment contracts - Misstatement of age provision
Arkansas·Title 23
In an annuity or pure endowment contract, other than reversionary, survivorship, or group annuity, there shall be a provision that if the age of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payments to the insurer would have purchased according to the correct age, and that if the insurer shall make or has made any overpayments on account of any misstatement, the amount thereof, with interest at the rate to be specified in the contract but not exceeding six percent (6%) per annum, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract.
Free access — add to your briefcase to read the full text and ask questions with AI
Arkansas § 23-81-125 (Annuity and pure endowment contracts - Misstatement of age provision) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1959, No. 148, § 328; A.S.A. 1947, § 66-3319.
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