Policies of Assurance Act 1867

JurisdictionUK Non-devolved
Citation1867 c. 144
Year1867


Policies of Assurance Act, 1867

(30 & 31 Vict.) C A P. CXLIV.

An Act to enable Assignees of Policies of Life Assurance to sue thereon in their own Names.

[20th August 1867]

Whereas it is expedient to enable Assignees of Policies of Life Assurance to sue thereon in their own Names:

Be it enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, as follows:

S-1 Assignees of Life Policies may sue in their own Names.

1 Assignees of Life Policies may sue in their own Names.

1. Any Person or Corporation now being or hereafter becoming entitled, by Assignment or other derivative Title, to a Policy of Life Assurance, and possessing at the Time of Action brought the Right in Equity to receive and the Right to give an effectual Discharge to the Assurance Company liable under such Policy for Monies thereby assured or secured, shall be at liberty to sue at Law in the Name of such Person or Corporation to recover such Monies.

S-2 Defence or Reply on equitable Grounds may be pleaded.

2 Defence or Reply on equitable Grounds may be pleaded.

2. In any Action on a Policy of Life Assurance, a Defence on equitable Grounds, or a Reply to such Defence on similar Grounds, may be respectively pleaded and relied upon in the same Manner and to the same Extent as in any other personal Action.

S-3 Notice of Assignment to be given.

3 Notice of Assignment to be given.

3. No Assignment made after the passing of this Act of a Policy of Life Assurance shall confer on the Assignee therein named, his Executors, Administrators, or Assigns, any Right to sue for the Amount of such Policy, or the Monies assured or secured thereby, until a written Notice of the Date and Purport of such Assignment shall have been given to the Assurance Company liable under such Policy at their principal Place of Business for the Time being, or in case they have Two or more principal Places of Business, then at some One of such principal Places of Business, either inEngland or Scotland or Ireland , and the Date on which such Notice shall be received shall regulate the Priority of all Claims under any Assignment; and a Payment bon fide made in respect of any Policy by any Assurance Company before the Date on which such Notice shall have been received shall be as valid against the Assignee giving such Notice as if this Act had not been passed.

S-4 Principal Places of...

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