33-24-17
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33-24-17.
A
policy may be assignable or not assignable, as provided by its terms. Subject to
its terms relating to assignability, any life or accident and sickness policy
issued under the terms of which the beneficiary may be changed upon the sole
request of the policy owner may be assigned either by pledge or by transfer of
title by an assignment executed by the policy owner alone and delivered to the
insurer, whether or not the pledgee or assignee is the insurer. Any assignment
shall entitle the insurer to deal with the assignee as the owner or pledgee of
the policy in accordance with the terms of the assignment until the insurer has
received at its home office written notice of termination of the assignment or
pledge or written notice by or on behalf of some other person claiming some
interest in the policy in conflict with the assignment.