Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 51 - LIFE, INDIVIDUAL AND GROUP; ANNUITIES
Section 836-051-0310 - Acknowledgement of Concurrence for Payout from Assignee or Beneficiary
Universal Citation: OR Admin Rules 836-051-0310
Current through Register Vol. 63, No. 9, September 1, 2024
Prior to payment of an accelerated benefit, an insurer shall obtain a signed acknowledgement of concurrence for payout as follows:
(1) From an assignee, when the amount of benefit that is accelerated exceeds the unassigned portion of the death benefit, unless the assignee is the insurer.
(2) From an irrevocable beneficiary, if there is an irrevocable beneficiary.
Stat. Auth.: ORS 731.244 & ORS 743.154
Stats. Implemented: ORS 743.154
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