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  • SECTION 3212
    Exemption of proceeds and avails of certain insurance and annuity contracts
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  • ARTICLE 32
    Insurance Contracts - Life, Accident and Health, Annuities
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  • SECTION 3214
    Interest upon proceeds of life insurance policies and annuity contracts
    • This entry was published on 2014-09-22
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    SECTION 3213

    Payment of proceeds

    Insurance (ISC) CHAPTER 28, ARTICLE 32

    § 3213. Payment of proceeds. Where the proceeds of a policy of life
    insurance delivered or issued for delivery in this state are payable,
    according to its terms, to two or more beneficiaries without designation
    of their respective interests, the proceeds shall be paid to such
    beneficiaries in equal portions.