Any life policy or other agreement relating to the holding or payment of the proceeds of a life policy may provide that the proceeds thereof or payments thereunder shall not be subject to transfer, anticipation or commutation or encumbrance by any beneficiary, and shall not be subject to the claims of creditors of any beneficiary or any legal process against any beneficiary.
Cal. Ins. Code § 10171
Payment and Proceeds
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Applied in 3 court decisions — leading case In re Haddad (1981)
Most recently applied in In Re Ceresa Annette Rothery, Debtor. Ceresa Rothery v. Charles Daff, Chapter 7 Trustee (May 1998)
Amended by Stats. 1943, Ch. 533.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.