§ 58-58-155. Assignment of interest in group policies and annuity contracts. - North Carolina Statutes

§58‑58‑155.  Assignment of interest in group policies and annuitycontracts.

Any individual insured under agroup insurance policy or group annuity contract shall have the right, unlessexpressly prohibited under the terms of the policy or contract of insurance, toassign to any other person his rights and benefits under the policy orcontract, including, but not limited to the right to designate the beneficiaryor beneficiaries and the right of conversion guaranteed by G.S. 58‑58‑140,and, subject to the provisions of the policy relating to assignmentsthereunder, any such assignment, made either before or after April 28, 1969,shall be valid for the purpose of vesting in the assignee all such rights andbenefits so assigned. (1969, c. 319.)