All Roll Calls
Yes: 158 • No: 2
ArkansasSB5192025 Regular SessionSenateWALLET
TO AMEND THE STANDARD NONFORFEITURE LAW FOR LIFE INSURANCE; AND TO REGULATE THE PAYMENT OF INTEREST ON DEFERRED PAYMENT OF ANY CASH SURRENDER VALUE ACCORDING TO THE TERMS OF THE POLICY.
Sponsored By: Justin Boyd (Republican)
Enacted
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Life insurance cash-outs: delays with interest protection
Beginning January 1, 2026, Arkansas insurers can delay paying your life insurance policy’s cash surrender value under the policy’s terms. The delay can last up to six months after you demand surrender and turn in the policy. Your death benefit stays in force until payment. If payment remains unpaid 45 days after your demand, the insurer must add interest from the surrender date until full payment. The interest rate is set by Arkansas Code § 23-81-118.
Sponsors & Cosponsors
Sponsor
Justin Boyd
Republican • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 4/15/2025
Senate Vote - Tuesday, April 15, 2025 1:32:35 PM
Yes: 33 • No: 1
House vote • 4/14/2025
House Vote - Monday, April 14, 2025 6:48:05 PM
Yes: 93 • No: 0
Senate vote • 4/2/2025
Senate Vote - Wednesday, April 2, 2025 3:43:33 PM
Yes: 32 • No: 1
Actions Timeline
Notification that SB519 is now Act 958
4/22/2025SenateDELIVERED TO GOVERNOR.
4/16/2025SenateReported correctly enrolled and ordered delivered to the Governor.
4/16/2025SenateORDERED ENROLLED
4/15/2025SenateRead the third time and passed.
4/15/2025SenateRules suspended.
4/15/2025SenateHouse Amendment No. 1 read first time, rule suspended, read second time and concurred in.
4/15/2025SenatePlaced on second reading for purpose of amendment.
4/15/2025SenateReturned from the House as passed as amended # 1 .
4/14/2025SenateReturned to the Senate as passed.
4/14/2025HouseRead the third time and passed and ordered transmitted to the Senate.
4/14/2025HouseREPORTED CORRECTLY ENGROSSED
4/10/2025HouseAmendment No. 1 read and adopted and the bill ordered engrossed.
4/10/2025HousePlaced on second reading for the purpose of amendment.
4/10/2025HouseReturned by the Committee with the recommendation that it do pass as amended 1
4/9/2025HouseRead the first time, rules suspended, read the second time and referred to the Committee on INSURANCE & COMMERCE- HOUSE
4/2/2025HouseRECEIVED FROM THE SENATE
4/2/2025HouseOrdered immediately transmitted to the House.
4/2/2025SenateRead the third time and passed.
4/2/2025SenateReturned by the Committee, with the recommendation that it Do Pass
4/1/2025SenateRead first time, rules suspended, read second time, referred to INSURANCE & COMMERCE - SENATE
3/19/2025SenateFiled
3/19/2025Senate
Bill Text
SB519 - Introduced
3/19/2025
Act Version
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