Arkansas Statutes
§ 23-83-110 — Grace period for payment of premium provision
Arkansas·Title 23
(a)Excluding an annuity policy, the group policy shall contain a provision that the policyholder is entitled to a grace period of thirty-one (31) days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force unless the policyholder shall have given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy.
(b)The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such a grace period.
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Related
Kendall Dodson v. J.C. Penney Life
(Eighth Circuit, 2003)
Kendall Dodson Dennis D. Dodson Jerry Dodson Loyal S. Dodson v. J.C. Penney Company, Inc. J.C. Penney Life Insurance Company
309 F.3d 476 (Eighth Circuit, 2002)
Legislative History
Acts 1981, No. 898, § 10; A.S.A. 1947, § 66-3510.
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
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