Oklahoma § 36-3624 - Assignment of policies

§ 36-3624. Assignment of policies

Except as provided in Section 6055 of this title, a policy may

be assignable or not assignable, as provided by its terms. Subject

to its terms relating to assignability, any life or accident and

health policy, whether heretofore or hereafter issued, under the

terms of which the beneficiary may be changed upon the sole request

of the insured, may be assigned either by pledge or transfer of

title, by an assignment executed by the insured alone and delivered

to the insurer, whether or not the pledgee or assignee is the

insurer. Any such assignment shall entitle the insurer to deal with

the assignee as the owner or pledgee of the policy in accordance

with the terms of the assignment, until the insurer has received at

its home office written notice of termination of the assignment or

pledge, or written notice by or on behalf of some other person

claiming some interest in the policy in conflict with the

assignment.

Added by Laws 1957, p. 369, § 3624, operative July 1, 1957. Amended

by Laws 1992, c. 370, § 1, eff. Sept. 1, 1992; Laws 1999, c. 331, §

10, eff. Nov. 1, 1999; Laws 2002, c. 307, § 29, eff. Nov. 1, 2002;

Laws 2023, c. 158, § 1, eff. Nov. 1, 2023.