§911.1. Revocation upon divorce; beneficiary designation in life insurance and annuity
contracts
A. In all policies of life or endowment insurance and in all annuity contracts, divorce
revokes any revocable designation made by a divorced individual to the former spouse,
provided that the divorce occurs after the beneficiary is designated, the parties remained
divorced from each other at the time of death, and no judgment or property-settlement
agreement expressly provides otherwise. If revocation occurs, the proceeds of the policy or
annuity contract are payable as if the former spouse had predeceased the decedent.
B. A payor is not liable for having made payment in good faith reliance on the
validity of a beneficiary designation affecting any insurance policy or annuity before the
payor has received written notice of the divorce, judgment, or property-settlement agreement
and has had a reasonable time within which to act.
Acts 2024, No. 94, §2.