Arkansas § 4-90-801 - Legislative intent — Purpose — Scope.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-90-801 — Legislative intent — Purpose — Scope., with citation guidance and answers to common questions.
§ 4-90-801. Legislative intent — Purpose — Scope.
The General Assembly finds that guaranteed asset protection waivers are not insurance. It is the intent of the General Assembly that all guaranteed asset protection waivers issued in this state, before or after the enactment of this subchapter, are not to be considered insurance. The purpose of this subchapter is to provide a framework within which guaranteed asset protection waivers are defined and may be offered within this state. This subchapter does not apply to: An insurance policy offered by an insurer under the Arkansas Insurance Code and insurance laws of this state; or A debt cancellation or debt suspension contract being offered in compliance with 12 C.F.R. Part 37 or 12 C.F.R. Part 721 or other applicable federal laws. Guaranteed asset protection waivers governed under this subchapter are not insurance and are exempt from the insurance laws of this state. Persons marketing, selling, or offering to sell guaranteed asset protection waivers to borrowers that comply with this subchapter are exempt from this state's insurance licensing requirements.
Frequently Asked Questions About Arkansas § 4-90-801
What does Arkansas Code of 1987 Annotated § 4-90-801 cover?
Section 4-90-801 ("Legislative intent — Purpose — Scope.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 4-90-801?
A common citation format is "Arkansas Code of 1987 Annotated § 4-90-801" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-90-801 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.