West Virginia Statutes
§ 33-13-27 — Power of insurer to hold proceeds of policy under agreement
West Virginia § 33-13-27
This text of West Virginia § 33-13-27 (Power of insurer to hold proceeds of policy under agreement) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
W. Va. Code § 33-13-27 (2026).
Text
Any life insurer shall have the power to hold under agreement the proceeds of any policy issued by it, 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 set forth in the policy or as agreed to in writing by the insurer and the policyholder. Upon maturity of a policy, in the event the policyholder has made no such agreement, the insurer shall have the power to hold the proceeds of the policy under an agreement with the beneficiaries. The insurer shall not be required to segregate the funds so held but may hold them as part of its general assets.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
1957 Reg. Sess., HB126
Nearby Sections
15
§ 33-1-1
Insurance§ 33-1-10
Kinds of insurance defined§ 33-1-11
Reinsurance§ 33-1-12
Agent§ 33-1-13
Solicitor§ 33-1-14
Broker§ 33-1-15
Reciprocal insurance§ 33-1-16
Policy§ 33-1-17
Premium§ 33-1-18
Stock insurer§ 33-1-19
Mutual insurer§ 33-1-2
Insurer§ 33-1-21
Emergency servicesCite This Page — Counsel Stack
Bluebook (online)
West Virginia § 33-13-27, Counsel Stack Legal Research, https://law.counselstack.com/statute/wv/33/33-13-27.