Virginia Code 38.2-3125: Other rights of beneficiaries and assignees protected
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Since the purpose of §§ 38.2-3122 and 38.2-3122.1 is to confer additional rights, privileges, and benefits upon beneficiaries and assignees of policies, no beneficiary or assignee shall by reason of these sections be divested or deprived of or prohibited from exercising or enjoying any right, privilege, or benefit that he would have or could exercise or enjoy had §§ 38.2-3122 and 38.2-3122.1 not been enacted.
Terms Used In Virginia Code 38.2-3125
- 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
Code 1950, § 38-119; 1952, c. 317, § 38.1-451; 1986, c. 562; 2018, cc. 304, 847.