3113 - Consent of and Notification of an Irrevocable Beneficiary Under a Court Order of Divorce or Separation.

NY Ins L § 3113 (2019) (N/A)
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(a) prohibit the policy holder from borrowing from the cash value or changing the named beneficiary of such insurance policy without the written consent of the irrevocable beneficiary; and

(b) provide written notification to the irrevocable beneficiary in the event that such insurance policy is scheduled to lapse due to non-payment of premium.