Okla. Stat. tit. 36 § 3624

Current through Laws 2024, c. 453.
Section 3624 - Assignment of policies

Except as provided in Section 6055 of this title, a policy may be assignable or not assignable, as provided by its terms. Subject to its terms relating to assignability, any life or accident and health policy, whether heretofore or hereafter issued, under the terms of which the beneficiary may be changed upon the sole request of the insured, may be assigned either by pledge or transfer of title, by an assignment executed by the insured alone and delivered to the insurer, whether or not the pledgee or assignee is the insurer. Any such assignment shall entitle the insurer to deal with the assignee as the owner or pledgee of the policy in accordance with the terms of the assignment, until the insurer has received at its home office written notice of termination of the assignment or pledge, or written notice by or on behalf of some other person claiming some interest in the policy in conflict with the assignment.

Okla. Stat. tit. 36, § 3624

Amended by Laws 2023 , c. 158, s. 1, eff. 11/1/2023.
Added by Laws 1957, HB 501, p. 369, § 3624; Amended by Laws 1992, HB 2042, c. 370, § 1, eff. 9/1/1992; Amended by Laws 1999 , HB 1318, c. 331, §10, eff. 11/1/1999; Amended by Laws 2002 , HB 2911, c. 307, §29, eff. 11/1/2002.