Common use of Transfer of Ownership - The Group Clause in Contracts

Transfer of Ownership - The Group. Contract Holder may transfer ownership of this Contract. A written request, dated and signed, must be filed at our home office. Any transfer of ownership terminates the interest of any existing Group Contract Holder. It does not change the rights of any Certificate Holder. A Certificate Holder may transfer all of his or her rights under the Contract. We reserve the right not to accept an assignment or transfer to a nonnatural person. A written request, dated and signed by the Certificate Holder and any joint Certificate Holder, must be filed at our home office. After the transfer is recorded, it will take effect as of the date the request was signed. Any such transfer terminates the interest of any existing Certificate Holder. It does not change the Beneficiary, nor transfer the Beneficiary's interest. A transfer will not affect any payments We may make or actions We may take before such transfer has been recorded at our home office.

Transfer of Ownership - The Group. Contract Holder may transfer ownership of this Contract. A written request, dated and signed, must be filed at our home officeHome Office. Any transfer of ownership terminates the interest of any existing Group Contract Holder. It does not change the rights of any Certificate Holder. A Certificate Holder may transfer all of his or her rights under the Contract. We reserve the right not to accept an assignment or transfer to a nonnatural person. A written request, dated and signed by the Certificate Holder and any joint Certificate Holder, must be filed at our home officeHome Office. After the transfer is recorded, it will take effect as of the date the request was signed. Any such transfer terminates the interest of any existing Certificate Holder. It does not change the Beneficiary, nor transfer the Beneficiary's interest. A transfer will not affect any payments We may make or actions We may take before such transfer has been recorded at our home officeHome Office.