Maine Revised Statutes Title 18-B Sec. 501 – Rights of beneficiary’s creditor or assignee
Current as of: 2023 | Check for updates
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Terms Used In Maine Revised Statutes Title 18-B Sec. 501
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
To the extent a beneficiary‘s interest is not protected by a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary’s interest by attachment of present or future distributions to the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances. [PL 2005, c. 184, §10 (AMD).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §10 (AMD).