SB 519 Arkansas Senate · 2025 Regular Session

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.

SB 519 amends the standard nonforfeiture law for life insurance policies. The bill regulates the payment of interest on any cash surrender value that is deferred according to the policy's terms. As amended, it adjusts a specified timeframe within this process from 60 days to 45 days. This legislation directly affects life insurance policyholders who surrender their policies for cash value and the life insurance companies that issue these policies.

Bill status signed all 5 stages cleared

Introduction

Mar 2025

Committee Review

Apr 2025

Senate Passage

Apr 2025

House Passage

Apr 2025

Signed into Law

Apr 2025

Introduced Mar 19, 2025 Signed Apr 22, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Act 958 → SB 519 · 2 edits

MINOR

The bill text was reformatted from Act 958 to SB 519, removing the approval date and adding new header information including the bill number, session details, and enrolling date. This appears to be a technical formatting change rather than a substantive policy modification.

TECHNICAL

Removed the approval date (4/21/25) that was present in the original Act 958 version

Added new header information including bill number (SB 519), session details (95th General Assembly, Regular Session 2025), and enrolling date (H4/10/25)

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 22, 2025

Signed into law

Notification that SB519 is now Act 958

upper

Apr 15, 2025

Upper · Passed

Read the third time and passed.

upper

Apr 15, 2025

Upper · Passed

Returned from the House as passed as amended # 1 .

upper

Apr 14, 2025

Lower · Passed

Returned to the Senate as passed.

lower

Apr 14, 2025

Lower · Passed

Read the third time and passed and ordered transmitted to the Senate.

lower

Apr 10, 2025

Introduced

Amendment No. 1 read and adopted and the bill ordered engrossed.

lower

Apr 9, 2025

Lower · Passed

Returned by the Committee with the recommendation that it do pass as amended 1

lower

Apr 2, 2025

Upper · Passed

Read the third time and passed.

upper

Apr 1, 2025

Upper · Passed

Returned by the Committee, with the recommendation that it Do Pass

upper

Mar 19, 2025

Introduced

Filed

upper

1 primary · 0 co-sponsors