“Retained asset account” means any account or other mechanism by which the settlement of any proceeds payable
under a policy of life insurance is accomplished by the insurer or a person acting
on behalf of the insurer by depositing the proceeds into an account with draft or
check writing privileges, where the proceeds are retained by the insurer, pursuant
to a supplementary contract not involving annuity benefits.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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