State Codes and Statutes
Statutes > Kansas > Chapter40 > Article4 > Statutes_1724340-439
40-439. Assignment of rights and privileges under life andaccident and health insurance policies.No provision in K.S.A. 40-434 and 40-435 or any other law shall beconstrued as prohibiting a person whose life is insured under a policyof group life or accident and health insurance or the policyowner of anindividual life or accident and health policy from making an assignmentof all or any part of his rights and privileges under such policyincluding specifically, but not by way of limitation, any right todesignate a beneficiary or beneficiaries thereunder and any right tohave an individual policy issued to him in accordance with subsections(8), (9) or (10) of K.S.A. 40-434 and 40-435. Subject to the terms ofthe policy relating to assignment of such rights and privilegesthereunder, such an assignment by an insured or the policyowner, madeeither before or after the effective date of this section, is valid forthe purpose of vesting in the assignee, in accordance with anyprovisions included therein as to the time at which it is to beeffective, all of such rights and privileges so assigned, but withoutprejudice to the insurer on account of any payment it may make orindividual policy it may issue in accordance with subsections (8), (9)or (10) of K.S.A. 40-434 and 40-435 prior to receipt of notice of theassignment.
History: L. 1969, ch. 239, § 1; July 1.
