Pub. L. 93-89, tit. III, sec. 302

Sec. 302. The first sentence of section 11 of chapter V of the Life Insurance Act (D.C. Code, sec. 35–711), is amended (1) by striking out “and” between clauses (b) and (c), (2) by striking out the colon at the end of clause (c) and inserting in lieu thereof a semicolon and (3) by inserting immediately thereafter a new clause (d) as follows: “and (d) that subject to the terms of the policy any person insured under a group life insurance contract, whether issued before or after the effective date of this clause, may make to any person, other than his employer, an absolute or collateral assignment of any or all the rights and benefits conferred on him by any provision of such policy or by law, including specifically, but not by way of limitation, any right to designate a beneficiary or beneficiaries thereunder and any right to have an individual policy issued upon termination either of employment or of said policy of group life insurance, but nothing herein shall be construed to have prohibited an insured from making an assignment of all or any part of his rights and privileges under the policy before the effective date of this clause and, subject to the terms of the policy, an assignment by an insured before or after the effective date of this clause is valid for the purposes of vesting in the assignee all rights and privileges so assigned, but without prejudice to the insurer on account of any payment it may make or individual policy it may issue prior to receipt of notice of the assignment:”.