Any life company licensed under the laws of the District shall have power to hold the proceeds of any policy issued by it under a trust or other agreement upon such terms and restrictions as to revocation by the policyholder and control by beneficiaries and with such exemptions from the claims of creditors or beneficiaries other than the policyholder as shall have been agreed to in writing by such company and the policyholder. Such insurance company shall not be required to segregate funds so held, but may hold them as a part of its general corporate assets.
(June 19, 1934, 48 Stat. 1176, ch. 672, ch. V, § 19.)
1981 Ed., § 35-525.
1973 Ed., § 35-720.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Chapter 47 - Provisions Relating to All Life Insurance Companies
§ 31–4701. Valuation of reserves by Commissioner
§ 31–4702. Companies issuing both participating and nonparticipating policies
§ 31–4703. Life policies — Required provisions
§ 31–4704. Life policies — Prohibited provisions
§ 31–4705.01. Nonforfeiture benefits and cash surrender values
§ 31–4705.02. Standard nonforfeiture law — In general
§ 31–4705.03. Standard nonforfeiture law — Individual deferred annuities
§ 31–4705.04. Loan provisions in policies
§ 31–4706. Extension of time for payment of premiums
§ 31–4707. Ascertainment of loan indebtedness
§ 31–4708. Filing and approval of life policy forms
§ 31–4709. Policy provisions required by foreign government entities
§ 31–4710. Group policies — General requirements. [Repealed]
§ 31–4711. Group policies — Required provisions
§ 31–4711.01. Group policies — Right to, and notice of, issuance of individual policy
§ 31–4712. Accident and sickness policies
§ 31–4713. Prohibited activities — Securities operations. [Repealed]
§ 31–4714. Prohibited activities—Misrepresentations. [Repealed]
§ 31–4715. Prohibited activities—Discriminations. [Repealed]
§ 31–4716. Rights of parties under life policies
§ 31–4716.01. Exemption from legal process — Disability benefits
§ 31–4717. Exemption from legal process — Group life policy or proceeds
§ 31–4718. Fraudulent statements or representations against companies. [Repealed]
§ 31–4719. Authority to hold proceeds under trust or agreement
§ 31–4720. Calculations of premiums and reserves
§ 31–4721. Acceptance and recordation of premiums on industrial life or sick-benefit policies
§ 31–4722. Industrial life policies — Required provisions
§ 31–4723. Industrial life policies — Prohibited provisions
§ 31–4724. Access to psychologists or optometrists under group health insurance policy
§ 31–4725. Policy language simplification standards
§ 31–4726. Commissioner’s review of test
§ 31–4727. Applicability of §§ 31-4725 through 31-4730
§ 31–4729. Construction of §§ 31-4725 through 31-4730