Indiana § 27-1-12-21 Power to hold proceeds under trust or other agreement with
policyholder

Indiana Statutes

§ 27-1-12-21 — Power to hold proceeds under trust or other agreement with policyholder

Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 12 Life Insurance Company Powers and Policy

Any life insurance company organized under
the laws of this state 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 of
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.
Formerly: Acts 1935, c.162, s.160.

Free access — add to your briefcase to read the full text and ask questions with AI

Any life insurance company organized under
the laws of this state 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 of
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.
Formerly: Acts 1935, c.162, s.160.

Indiana § 27-1-12-21 (Power to hold proceeds under trust or other agreement with policyholder) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.