38.2-4021 - Interest in benefits; assignability; liability to attachment, etc. - Virginia Statutes

§ 38.2-4021. Interest in benefits; assignability; liability to attachment,etc.

No beneficiary shall have or obtain any vested interest in a benefit untilthe benefit has become due and payable upon the death of the member. Nocertificate of membership in any burial society, nor any interest or rightsin the certificate shall be assigned unless the assignment is to a personauthorized by § 38.2-4019 to be named as a beneficiary except for the purposeof funding or paying for a preneed funeral contract as defined in §54.1-2800, notwithstanding the provisions of § 38.2-4022, and so long as suchassignment is revocable by the assignor. No money or other benefit providedby any burial society shall be liable to attachment, garnishment or otherprocess, or be seized, taken, appropriated or applied by any legal orequitable process or operation of law to pay any debt or liability of amember or beneficiary, or any other person who may have a right to thebenefit, either before or after payment.

(Code 1950, § 38-152; 1952, c. 317, § 38.1-563; 1983, c. 94; 1986, c. 562;1987, c. 647; 1989, c. 684.)