District of Columbia Statutes
§ 31-4719 — Authority to hold proceeds under trust or agreement.
District of Columbia·Title 31 Insurance and Securities.·Ch. 47 Provisions Relating to All Life Insurance Companies.
Any life company licensed under the laws of the District shall have power to hold the proceeds of any policy issued by it under a trust or other agreement upon such terms and restrictions as to revocation by the policyholder and control by beneficiaries and with such exemptions from the claims of creditors or beneficiaries other than the policyholder as shall have been agreed to in writing by such company and the policyholder. Such insurance company shall not be required to segregate funds so held, but may hold them as a part of its general corporate assets.
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Legislative History
June 19, 1934, 48 Stat. 1176, ch. 672, ch. V, § 19
Nearby Sections
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§ 31-1001
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Prohibited conduct – student loan servicers.§ 31-106.02b
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