View all text of Subchapter III [§ 3951 - § 3959]
§ 3957. Protection of life insurance policy
(a) Assignment of policy protected
(b) Exception
The prohibition in subsection (a) shall not apply—
(1) if the assignee has the written consent of the insured made during the period described in subsection (a);
(2) when the premiums on the policy are due and unpaid; or
(3) upon the death of the insured.
(c) Order refused because of material affect
(d) Treatment of guaranteed premiums
(e) Misdemeanor
(Oct. 17, 1940, ch. 888, title III, § 306, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2850; amended Pub. L. 111–275, title III, § 303(b)(6), Oct. 13, 2010, 124 Stat. 2878.)