1. A policy of group life insurance or group health insurance or the proceeds thereof payable to the individual insured or
to the beneficiary thereunder, shall not be liable, either before or after payment, to be applied by any legal or equitable
process to pay any debt or liability of such insured individual or his beneficiary or of any other person having a right under
the policy.
[
1969, c. 132, §1 (NEW)
.]
2. This section shall not apply to group insurance issued pursuant to this Title to a creditor covering his debtors, to the
extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.
[
1969, c. 132, §1 (NEW)
.]
SECTION HISTORY
1969, c. 132, §1 (NEW).
Data for this page extracted on 11/09/2009 11:20:25.