Sec. 38a-450. (Formerly Sec. 38-159). Certain corporations and associations may be made beneficiaries. - Connecticut Statutes

      Sec. 38a-450. (Formerly Sec. 38-159). Certain corporations and associations may be made beneficiaries. Any life insurance company doing business within the state may issue policies of insurance predicated upon the life or lives of any person or persons, payable at maturity to any educational, ecclesiastical, benevolent, charitable or eleemosynary corporation which can legally take and receive testamentary legacies, irrespective of a financial interest on the part of such corporation in the life of the person or persons insured.

      (1949 Rev., S. 6149.)

      History: Sec. 38-159 transferred to Sec. 38a-450 in 1991.