Ind. Code § 27-1-12-21
This is the official text of Ind. Code § 27-1-12-21, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Power to hold proceeds under trust or other agreement with policyholder
Official statutory text
Sec. 21. Any life insurance company organized under the laws of this state shall have power to hold the proceeds of any policy issued by it under a trust or other agreement upon such terms and restrictions as to revocation by the policyholder and control by beneficiaries and with such exemptions from the claims of creditors of beneficiaries other than the policyholder as shall have been agreed to in writing by such company and the policyholder. Such insurance company shall not be required to segregate funds so held but may hold them as a part of its general corporate assets.
Formerly: Acts 1935, c.162, s.160.
Formerly: Acts 1935, c.162, s.160.
Status: in_force · Read it on the official government site
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