Cross References
Civil relief for state military forces, see chapter 657D.
Risk-based capital for insurers, see §§431:3-401 to 414.
PART I. INDIVIDUAL LIFE INSURANCE, ANNUITIES
AND PURE ENDOWMENT CONTRACTS
§431:10D-112 Policy settlements. Any life insurer shall have the power to hold under agreement the proceeds of any policy issued by it, upon such terms and restrictions as to revocation by the policyholder and control by beneficiaries, and with such exemptions from the claims of creditors of beneficiaries other than the policyholder as set forth in the policy or as agreed to in writing by the insurer and the policyholder. Upon maturity of a policy in the event the policyholder has made no such agreement, the insurer shall have the power to hold the proceeds of the policy under an agreement with the beneficiaries. The insurer shall not be required to segregate funds so held but may hold them as part of its general assets. [L 1987, c 347, pt of §2]
Section: Previous 431-10d-105 431-10d-106 431-10d-107 431-10d-108 431-10d-109 431-10d-110 431-10d-111 431-10d-112 431-10d-113 431-10d-114 431-10d-115 431-10d-116 431-10d-117 431-10d-118 431-10d-201 NextLast modified: October 27, 2016