- (a) The purpose of this part is to increase written notice and disclosure to insureds who are replacing life insurance policies, certificates of life insurance coverage, or annuities that fund prepaid funeral benefits contracts.
- (b) This part also provides standards for cancellations or transfers of prepaid funeral benefits contracts governed by Arkansas Code § 23-40-122, the funding mechanisms for such contracts, and revises forms for cancellations or transfers and releases of trust funds under Arkansas Code § 23-40-114.