§ 23-88-207 - Requirement to enter into insurance contract. - Arkansas Statutes

23-88-207. Requirement to enter into insurance contract.

(a) No insurer may enter into a contract to insure any building, except one (1) to four (4) family owner-occupied dwellings, against the peril of fire to be issued after July 4, 1983, unless the insurer first receives an antiarson application signed and affirmed by the insured, if required by the Insurance Commissioner in accordance with the provisions of this subchapter.

(b) (1) Any antiaarson application required by this subchapter shall be deemed a material part of the insurance policy to which the application pertains.

(2) A material misrepresentation shall be deemed grounds to rescind the insurance policy.