WVC 33 - 6 - 20
§33-6-20. Assignment of policies.
Whenever the insured in a policy owned by him has reserved
to himself the right to change the beneficiary thereunder, the
insured shall have the right to and may assign said policy to the
extent permitted by the terms thereof as collateral security for
a loan or loans, or for any other purpose without any beneficiary
thereunder joining therein or assenting thereto, and such
assignment shall subordinate the rights and interests of any
beneficiary in the proceeds of the policy to the rights and
interests of the assignee as created and defined by such
Note: WV Code updated with legislation passed through the 2015 Regular Session
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