ALBANY – New York insurance laws allow the reassignment of life insurance benefits to people who are not related to the policyholders, the state’s highest court ruled yesterday.
The interpretation of state laws on “stranger-owned life insurance” or “SOLIs,” came in response to a certified question from the U.S. Court of Appeals for the Second Circuit and upheld the validity in New York of a secondary investment market on SOLIs that the federal General Accounting Office placed nationally at between $9 billion and $12 billion in 2008.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
