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AR HB1801

Bill

Official Source

Status

Passed

4/26/2021

Primary Sponsor

Reginald Murdock

Click for details

Origin

House of Representatives

93rd General Assembly (2021 Regular)

AI Summary

  • Adds Arkansas Code 23-81-137 establishing that designated or named beneficiaries of life insurance policies or annuity contracts can only be changed according to the terms of the policy or contract itself.

  • Prohibits changing a designated or named beneficiary through a will.

  • Adds Arkansas Code 28-25-111 declaring that any testamentary change to a life insurance policy or annuity contract beneficiary is ineffective unless made according to the policy or contract terms.

  • Approved April 26, 2021.

Legislative Description

To Prohibit A Change To A Designated Or Named Beneficiary Of A Life Insurance Policy Or Annuity Contract Through A Will.

Last Action

Notification that HB1801 is now Act 925

4/26/2021

Committee Referrals

Insurance & Commerce4/8/2021
Insurance and Commerce3/18/2021

Full Bill Text

No bill text available