Common use of Encumbrance of Benefits Clause in Contracts

Encumbrance of Benefits. No moneys, property, or equity of any nature whatsoever, in the Plan, or policies or benefits or moneys payable therefrom, shall be subject in any manner by an Employee or person claiming through such Employee to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, garnishment, mortgage, lien or charge, and any attempt to cause the same to be subject thereto shall be null and void; provided, however, that subject to authorization or ratification by the Directors, such assignments or transfers may be made to authorized providers of the medical services, supplies, and benefits established by the Directors for participants in the Plan.