2006 New York Code - Consent Of Notification Of An Irrevocable Beneficiary Under A Court Order Of Divorce Or Separation

 
    §  3113.  Consent  of  and  notification of an irrevocable beneficiary
  under a court order of divorce or separation. In any case where a policy
  owner has, pursuant to an order of separation or divorce, designated his
  or her spouse or children as the irrevocable beneficiary of a policy  of
  insurance  subject  to  the  provisions  of  section  three thousand two
  hundred three of this chapter, and a copy of such order has been served,
  by registered mail, on the home office of  the  insurer  specifying  the
  name and mailing address of the spouse or children, such insurer shall:
    (a)  prohibit  the policy holder from borrowing from the cash value or
  changing the named beneficiary of  such  insurance  policy  without  the
  written consent of the irrevocable beneficiary; and
    (b) provide written notification to the irrevocable beneficiary in the
  event   that  such  insurance  policy  is  scheduled  to  lapse  due  to
  non-payment of premium.