District of Columbia § 41-152.12 Deposit account for proceeds of insurance policy or annuity contract.

District of Columbia Statutes

§ 41-152.12 — Deposit account for proceeds of insurance policy or annuity contract.

District of Columbia § 41-152.12

Title 41Personal Property.

Ch. 1ARevised Uniform Unclaimed Property Act.

Subch. IIPresumption of Abandonment.

This text of District of Columbia § 41-152.12 (Deposit account for proceeds of insurance policy or annuity contract.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 41-152.12 (2026).

Text

If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft-writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than death benefits, the proceeds are retained by the insurance company or the financial organization where the account is held, the policy or contract includes the assets in the account.

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If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft-writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than death benefits, the proceeds are retained by the insurance company or the financial organization where the account is held, the policy or contract includes the assets in the account.