Stricken language would be deleted from and underlined language would be added to present law.
Act 925 of the Regular Session
1 State of Arkansas
2 93rd General Assembly A Bill
3 Regular Session, 2021 HOUSE BILL 1801
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5 By: Representative Murdock
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7 For An Act To Be Entitled
8 AN ACT TO PROHIBIT A CHANGE TO A DESIGNATED OR NAMED
9 BENEFICIARY OF A LIFE INSURANCE POLICY OR ANNUITY
10 CONTRACT THROUGH A WILL; TO CLARIFY THAT ONLY A
11 CHANGE TO A LIFE INSURANCE POLICY OR ANNUITY CONTRACT
12 CAN CHANGE THE DESIGNATED OR NAMED BENEFICIARY OF A
13 LIFE INSURANCE POLICY OR ANNUITY CONTRACT; AND FOR
14 OTHER PURPOSES.
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17 Subtitle
18 TO PROHIBIT A CHANGE TO A DESIGNATED OR
19 NAMED BENEFICIARY OF A LIFE INSURANCE
20 POLICY OR ANNUITY CONTRACT THROUGH A
21 WILL.
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24 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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26 SECTION 1. Arkansas Code Title 23, Chapter 81, Subchapter 1, is
27 amended to add an additional section to read as follows:
28 23-81-137. Requirements to change designated or named beneficiary of
29 life insurance policy or annuity contract Prohibition.
30 A designated or named beneficiary of a life insurance policy or annuity
31 contract:
32 (1) Can be changed according to the terms of the life insurance
33 policy or annuity contract; and
34 (2) Cannot be changed in a will.
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36 SECTION 2. Arkansas Code Title 28, Chapter 25, Subchapter 1, is
*ANS195* 03/18/2021 10:42:50 AM ANS195
 HB1801
1 amended to add an additional section to read as follows:
2 28-25-111. Life insurance policy or annuity contract Proceeds.
3 A testamentary change to a designated or named beneficiary of a life
4 insurance policy or annuity contract is ineffective if the change is not made
5 according to the terms of the life insurance policy or annuity contract.
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8 APPROVED: 4/26/21
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