§ 51.1-510. Insurance exempt from process
A. The insurance provided for in this chapter, including any optional insurance, and all proceeds therefrom shall be exempt from levy, garnishment, and other legal process, except (i) as provided in subsection B and (ii) for administrative actions pursuant to Chapter 19 (§ 63.2-1900 et seq.) of Title 63.2 or any court process to enforce a child or child and spousal support obligation. However, the insured may make a voluntary, irrevocable assignment of his group life insurance and any individual conversion policy that may be issued upon termination of his group life insurance by executing an assignment on a form prepared by the Board of Trustees of the Virginia Retirement System.
B. From any insurance proceeds payable pursuant to this chapter to a retiree's beneficiaries, the Board may deduct any overpayment of retirement allowance paid to such retiree.
(1960, c. 604, § 51-111.67:8; 1980, c. 643, § 51-111.67:12.1; 1990, c. 832; 1994, c. 883; 1997, c. 273; 2008, c. 354.)
Sections: Previous 51.1-504 51.1-505 51.1-505.01 51.1-506 51.1-507 51.1-508 51.1-509 51.1-510 51.1-511 51.1-512 51.1-512.1 51.1-513 51.1-513.1 51.1-513.2 51.1-513.3 NextLast modified: April 16, 2009