2010 Arkansas Code
23-72-115. Notice to members of scaled and reduced claims.
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 72 - Mutual Assessment Life and Disability Insurers
§ 23-72-115 - Notice to members of scaled and reduced claims.
(a) Each insurer shall, on or before March 1 as to the preceding calendar year, give written notice thereof by mail to those of its members whose status and conditions of certificate or policy are similar, if the insurer has scaled and reduced its beneficial claims for the preceding year.
(b) The notice shall contain the names and addresses of the deceased members, the accrued or face value of the certificate, and the amount received by the beneficiary and shall only include all those scaled or reduced claims by reason of insufficient yield of assessments or revenue apportioned to the settlement of such claims.
(c) The notice shall have printed thereon as a heading in bold face type of not less than eighteen (18) points the words: "NOTICE AND WARNING".
Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.