Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas HB1811: TO AMEND PROPERTY AND CASUALTY LAW; AND TO REQUIRE REASONABLE PROOF OF PAYMENT OF A DEDUCTIBLE TO RECOUP RECOVERABLE DEPRECIATION UNDER PROPERTY AND CASUALTY LAW
Status: Failed, April 14, 2025
What the bill says
An act to be entitled an act to amend property and casualty law; to require reasonable proof of payment of a deductible to recoup recoverable depreciation under property and casualty law; and for other purposes. subtitle to amend property and casualty law; and to require reasonable proof of payment of a deductible to recoup recoverable depreciation under property and casualty law.
From the introduced text:
An Act To Be Entitled AN ACT TO AMEND PROPERTY AND CASUALTY LAW; TO REQUIRE REASONABLE PROOF OF PAYMENT OF A DEDUCTIBLE TO RECOUP RECOVERABLE DEPRECIATION UNDER PROPERTY AND CASUALTY LAW; AND FOR OTHER PURPOSES. Subtitle TO AMEND PROPERTY AND CASUALTY LAW; AND TO REQUIRE REASONABLE PROOF OF PAYMENT OF A DEDUCTIBLE TO RECOUP RECOVERABLE DEPRECIATION UNDER PROPERTY AND CASUALTY LAW. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code Title 23, Chapter 88, Subchapter 1, is amended to add an additional section to read as follows: 23-88-107. Reasonable proof of payment for deductible -- Recoverable depreciation -- Definitions. (a) As used in this section: (1) "Fraudulent insurance act" means the same as defined in § 23-66-501; (2) "Person" means an individual, corporation, association, partnership, limited liability company, or other legal entity; (3) "Property insurance policy" means an insurance policy issued by a property and casualty insurer that provides first-party coverage for loss or damage to real property; and (4)(A) "Reasonable proof of payment" means evidence of payment. *ANS343* 03/17/2025 12:16:41 PM ANS343 HB1811 (B) "Reasonable proof of payment" (ii) A money order receipt; (iii) A credit card statement; (iv) A copy of an executed installment plan contract; or (v) Another financing arrangement that requires full payment of a deductible over time. (b)(1) …
Sponsors
- Trey Steimel (R, 2) · primary sponsor