Cal. Code Regs. tit. 18 § 15558.2

Current through Register 2024 Notice Reg. No. 50, December 13, 2024

Section 15558.2 - Assignment, or Designation of Beneficiary, of Life Insurance Contract

If an individual makes an irrevocable and gratuitous assignment, or designation of a beneficiary, of a fully or partially paid-up life insurance policy issued on his life, the value of the gift is the cost of replacing or reproducing the policy at the date of the gift.

NOTE: Reference: Section 15558, Revenue and Taxation Code.

Cal. Code Regs. Tit. 18, § 15558.2