If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft-writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than death benefits, the proceeds are retained by the insurance company or the financial organization where the account is held, the policy or contract includes the assets in the account.
(Nov. 13, 2021, D.C. Law 24-45, § 7016, 68 DCR 010163.)
Structure District of Columbia Code
Chapter 1A - Revised Uniform Unclaimed Property Act
Subchapter II - Presumption of Abandonment
§ 41–152.01. When property is presumed abandoned
§ 41–152.02. When tax-deferred retirement account presumed abandoned
§ 41–152.03. When other tax-deferred account presumed abandoned
§ 41–152.04. When custodial account for minor presumed abandoned
§ 41–152.05. When contents of safe-deposit box presumed abandoned
§ 41–152.06. When stored-value card presumed abandoned
§ 41–152.07. When gift card presumed abandoned
§ 41–152.08. When security presumed abandoned
§ 41–152.09. When related property presumed abandoned
§ 41–152.10. Indication of apparent owner interest in property
§ 41–152.11. Knowledge of death of insured or annuitant
§ 41–152.12. Deposit account for proceeds of insurance policy or annuity contract