2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376 Life, Health and Accident Insurance
Section 376.680. Assignment of incidents of ownership, group life policy, effect of.
Assignment of incidents of ownership, group life policy, effect of.
376.680. Subject to the terms of the policy relating to assignment of incidents of ownership thereunder, a person whose life is insured under a policy of group life insurance may assign any or all incidents of ownership granted him under such policy, including but not limited to any right to designate a beneficiary, to have an individual policy issued to him, and to pay premiums. Any assignment by the insured, made either before or after September 28, 1971, shall be valid for the purpose of vesting in the assignee in accordance with any provisions included therein as to the time at which it is to be effective, all of such incidents of ownership so assigned, but without prejudice to the insurer on account of any payment it may make or individual policy it may issue without notice of the assignment.
(L. 1971 S.B. 125 1)
Annotation Copyright Missouri Joint Committee on Legislative Research
Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
