Reassignment of insurance policies permitted: pending estate duty policies to be handed to insurer or reassigned to assured with notice. Policies taken for payment of estate duty must be bifurcated into those originally taken and those later assigned to the President; original policies are to be handed to the insurer with a permanent record, while those assigned to the President must be reassigned by the Controller to the assured by execution of proper reassignment instruments and notice to the insurer, with consolidated notices permissible and procedural forms available from the insurer's divisional office.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reassignment of insurance policies permitted: pending estate duty policies to be handed to insurer or reassigned to assured with notice.
Policies taken for payment of estate duty must be bifurcated into those originally taken and those later assigned to the President; original policies are to be handed to the insurer with a permanent record, while those assigned to the President must be reassigned by the Controller to the assured by execution of proper reassignment instruments and notice to the insurer, with consolidated notices permissible and procedural forms available from the insurer's divisional office.
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