§ 10-7-205 — Exemption from execution

No policy of group insurance, nor the
proceeds thereof, when paid to any employee thereunder, shall be liable to
attachment, garnishment, or other process, or be seized, taken, appropriated, or
applied by any legal or equitable process or operation of law, to pay any debt or
liability of such employee, or his beneficiary, or any other person who may have a
right thereunder, either before or after payment, nor shall the proceeds thereof,
where not made payable to a named beneficiary, constitute a part of the estate of
the employee for the payment of his debts.

Legislative History

Source: L. 19: p. 443, � 4. C.L. � 2597. CSA: C. 87, � 167. CRS 53: � 72-6-5. C.R.S. 1963: � 72-6-5.