Or. Admin. Code § 836-051-0310

Current through Register Vol. 63, No. 11, November 1, 2024

Section 836-051-0310 - Acknowledgement of Concurrence for Payout from Assignee or Beneficiary

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.

Or. Admin. Code § 836-051-0310

ID 8-1992, f. 5-26-92, cert. ef. 6-1-92

Stat. Auth.: ORS 731.244 & ORS 743.154

Stats. Implemented: ORS 743.154