Code of Virginia - Title 38.2 Insurance - Section 38.2-3545 Further restrictions as to beneficiaries

§ 38.2-3545. Further restrictions as to beneficiaries

Within the permitted classes of beneficiaries prescribed in § 38.2-3544, the issuing insurer may designate the classes of beneficiaries. No change of beneficiary shall be made by assignment, will, or otherwise to any person outside the designated classes without the consent of the insurer. If no person within the classes of beneficiaries prescribed in § 38.2-3544 survives the insured, the insurer may discharge its liability by payment of the proceeds of the policy to any person appearing to the insurer to be equitably entitled to the proceeds because of having incurred expense for the maintenance, medical attention or burial of the insured.

(Code 1950, § 38-352; 1952, c. 317, § 38.1-484; 1986, c. 562.)

Sections:  Previous  38.2-3540.1  38.2-3541  38.2-3542  38.2-3543  38.2-3543.1  38.2-3543.2  38.2-3544  38.2-3545  38.2-3546  38.2-3547  38.2-3548  38.2-3549  38.2-3550  38.2-3551  38.2-3552  Next

Last modified: April 16, 2009