§431:10D-307  Beneficiary.  (a)  Eachpolicy shall have a space on the front or back page of the policy for the nameof the beneficiary designated with a reservation of the right to designate orchange the beneficiary after the issuance of the policy.

(b)  The policy may also provide that nodesignation or change of beneficiary shall be binding on the insurer untilendorsed on the policy by the insurer, and that the insurer may refuse toendorse the name of any proposed beneficiary who does not appear to the insurerto have an insurable interest in the life of the insured. [L 1987, c 347, pt of§2]