§ 23-40-116. Trust funds — Disbursements
The trustee shall disburse money or other property from the trust fund only as follows: (1) Upon the death of the contract beneficiary and upon proper proof and documentation being submitted to and approved by the Insurance Commissioner, or pursuant to such other method as may be permitted under valid rules adopted by the commissioner, […]
§ 23-40-101. Short title
This chapter shall be known as the “Arkansas Prepaid Funeral Benefits Law”.
§ 23-40-102. Purpose
The purpose of this chapter is to provide for the regulation of the sale of prepaid funeral benefits by the Insurance Commissioner.
§ 23-40-103. Definitions
As used in this chapter: (1) “Annuity funding” means contract proceeds that are used by a seller to purchase an annuity contract that names the seller as the beneficiary of the annuity contract, the proceeds of which shall be used to pay for the funeral benefits specified in a prepaid contract, or the purchaser may […]
§ 23-40-104. Arkansas Insurance Code not affected
Except as provided in § 23-40-112(h)(2), this chapter shall not apply to any licensed insurance company or alter or affect any provisions of the Arkansas Insurance Code.