§ 28C-18. Payment of insurance policies. - North Carolina Statutes

§28C‑18.  Payment of insurance policies.

(a)        At the time of thedistribution under G.S. 28C‑13 the judge may direct the payment of anysums as they become due on any policies of insurance upon the life of theabsentee, to the proper parties as their interest may appear.

(b)        If the insurerrefuses payment, the judge, upon the finding of appropriate supplementalpleadings in the pending action, shall determine all issues arising upon thepleadings, provided that all issues of fact shall be tried by a jury, unlesstrial by jury is waived.

(c)        Where the requiredsurvival of a beneficiary is not established the provisions of this Chaptershall apply as if the proceeds of the insurance were a part of the estate ofthe absentee, unless the absentee retained no interest in the policy.

(d)        If in anyproceeding under subsection (b) it is determined that the absentee is not deadand the policy provides for a surrender value, the receiver or an otherwiseentitled beneficiary acting through the receiver, may demand the payment of thesurrender value or obtain a policy loan. The receiver's receipt for suchpayment of surrender value shall be a release to the insurer of all claimsunder the policy. The receiver shall pay over to such beneficiary any money soreceived, first reserving only an amount allowed by the judge as costs of theproceedings under this section and that amount required by G.S. 28C‑12(3)b.(1965, c. 815, s. 1; 1973, c. 1329, s. 2.)