Section 27-14-22 – Situs of Contracts.
Section 27-14-22 Situs of contracts. All contracts of insurance, the application for which is taken within this state, shall be deemed to have been made within this state and subject to the laws thereof. (Code 1940, T. 28, §10; Acts 1971, No. 407, p. 707, §335.)
Section 27-14-23 – Effect of War on Contracts of Foreign Insurer.
Section 27-14-23 Effect of war on contracts of foreign insurer. No insurance contract issued to a citizen of this state by an insurer organized under the laws of a foreign country shall be invalidated by the occurrence of hostilities between such foreign country and the United States of America. (Code 1940, T. 28, §8; Acts […]
Section 27-14-24 – Effect of Payments.
Section 27-14-24 Effect of payments. Whenever the proceeds of, or payments under, a life or disability insurance policy or annuity contract, heretofore or hereafter issued, become payable in accordance with the terms of such policy or contract, or the exercise of any right or privilege thereunder, and the insurer makes payment thereof in accordance with […]
Section 27-14-25 – Receipt and Giving of Acquittance and Discharge for Payment by Minors.
Section 27-14-25 Receipt and giving of acquittance and discharge for payment by minors. (a) Any minor domiciled in this state who has attained the age of 18 years shall be deemed competent to receive and to give full acquittance and discharge for a payment, or payments, in aggregate amount not exceeding $3,000.00 in any one […]
Section 27-14-26 – Forms for Proof of Loss.
Section 27-14-26 Forms for proof of loss. An insurer shall furnish, upon written request of any person claiming to have a loss under an insurance contract issued or assumed by such insurer, forms for proof of loss for completion by such person, but such insurer shall not, by reason of the requirement so to furnish […]
Section 27-14-27 – Acts Not Deemed Waiver of Provisions or Defenses.
Section 27-14-27 Acts not deemed waiver of provisions or defenses. Without limitation of any right or defense of an insurer otherwise, none of the following acts by, or on behalf of, an insurer shall be deemed to constitute a waiver of any provision of a policy or of any defense of the insurer thereunder: (1) […]
Section 27-14-28 – Effect of Misrepresentations in Proof of Loss.
Section 27-14-28 Effect of misrepresentations in proof of loss. No misrepresentation in any proof of loss under any insurance policy shall defeat or void the policy unless such misrepresentation is made with actual intent to deceive as to a matter material to the insured’s rights under the policy. (Code 1940, T. 28, §6; Acts 1971, […]
Section 27-14-29 – Rights of Beneficiaries, etc., Under Life Insurance Policies Against Creditors, Etc.
Section 27-14-29 Rights of beneficiaries, etc., under life insurance policies against creditors, etc. (a) If a policy of insurance, whether heretofore or hereafter issued, is effected by any person on his own life or on another life in favor of a person other than himself or, except in cases of transfer with intent to defraud […]
Section 27-14-30 – Right to Proceeds When Same Retained by Life Insurer.
Section 27-14-30 Right to proceeds when same retained by life insurer. If under the terms of any annuity contract or life insurance policy, or under any written agreement supplemental thereto, issued by any life insurer, the proceeds, or any part thereof, are retained by the insurer at maturity or otherwise, no person entitled to any […]
Section 27-14-31 – Exemption From Debt of Proceeds – Disability.
Section 27-14-31 Exemption from debt of proceeds – Disability. The proceeds or avails of all contracts or disability insurance and of provisions providing benefits on account of the insured’s disability which are supplemental to life insurance or annuity contracts, heretofore or hereafter effected, shall be exempt from all liability for any debt of the insured […]