11 N.C. Admin. Code 12.1204

Current through Register Vol. 39, No. 13, January 2, 2025

Section 12 .1204 - ASSIGNEE/BENEFICIARY

Before the payment of any accelerated benefit, the insurer shall obtain from any assignee or irrevocable beneficiary a signed acknowledgement of concurrence for payment. If the insurer paying the accelerated benefit is the assignee under the policy, no such acknowledgement is required.

11 N.C. Admin. Code 12 .1204

Authority G.S. 58-2-40; 58-3-150; 58-7-15(1); 58-58-1;
Eff. March 1, 1992;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.

Authority G.S. 58-2-40; 58-3-150; 58-7-15(1); 58-58-1;
Eff. March 1, 1992.