US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 18
                            THE INSURANCE CONTRACT
    41-1826.  ASSIGNMENT OF POLICIES. A policy may be assignable or not
assignable, as provided by its terms. Subject to its terms relating to
assignability, any life or disability policy, whether heretofore or hereafter
issued, under the terms of which the beneficiary may be changed upon the sole
request of the insured or owner, may be assigned either by pledge or transfer
of title, by an assignment executed by the insured or owner alone and
delivered to the insurer, whether or not the pledgee or assignee is the
insurer. Any such 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.