Page:United States Statutes at Large Volume 48 Part 1.djvu/861

 73d CONGRESS. SESS. II. CHS. 373, 374 . JUNE 4,1934 . 835 [CHAPTER 374 .] ASSIGNMENT SEC. 4. Nothing contained in the terms of any such policy shall operate to pr eve nt its val id assignment by the insured ; but the company issuing the policy so assigned shall be discharged of all liability thereon by payment of its proceeds in accordance with its t erms, unles s bef ore su ch pa yment the company shall have written notice of such assignment. BENEFICIARY SEC. 5. Any individual designated with the consent of the insurer, evidenced by the signature of its president or secretary, or desig- nated upon a form furnished by and filed with the insurer, as bene- ficiary of such a policy shall be entitled to the proceeds of such policy after the death of the insured in priority to all other claimants, and may sue in his own name for such proceeds if payment is refused by the insurer : Provided, That upon the expiration of fifteen days after the death of the insured, unless proof of claim in the manner and form required by the Policy, accompanied by the policy for surrender, has theretofore been made by or on behalf of such designated bene- ficiary, the insurer may pay to any other claimant permitted by the policy. A person specified as one to whom the insured desires pay- me nt made, but not formally designated as beneficiary, shall be deemed a beneficiary for the purposes of this section, provided such design ation be made in writing and filed with the company during the lifetime of the insured. Approved, June 4, 1934 . Assignment permit- ted. Notice to issuing com- pany. Beneficiary; right to proceeds. Proviso. Payment of claim. Beneficiary "speci- fied" but not "desig- nated ." AN ACT June 4, 1934. To amend an Act entitled "An Act to incorporate the Mount Olivet Cemetery 	[s .1757 .]	 Company in the District of Columbia ." [Public, No. 270 .] Be it enacted by the Senate and House of Representatives of the Unit ed States of Ame rica in Cong ress ass embl ed, That the Act entitled "An Act to incorporate the Mount Olivet Cemetery Company in the District of Columbia", approved on the 10th day of June 1862 (12 Stat.L. 426) be, and the same hereby is, amended by adding at the end of section 2 of the said Act of the 10th day of June 1862 the following " The said corporation may use for burial purposes the tracts of lan d now owned by it and known, respectively, as the `Hoover tract', designated for purposes of assessment and taxation as parcel 153 /2 3, fronting on Bladensburg Road and the ` Merten's tract', designated for purposes of assessment and taxation as parcel 153/42, fronting on West Virginia Avenue, the said two tracts having an aggregate ar ea of approximately twelve and twenty-five one-hun- dredths acres, and all of the provisions of the aforesaid Act of the 10th day of June 1862 shall apply to both of the said tracts with like effect as if the provisions of this Act had been included therein at the time of its enactment : Provided, That no part of parcel 153/23 lyi ng within one hundred and twenty feet of Bladensburg Road shall be used for burial purposes ; the strip of land hereby exempted fr om use for burial purposes being the easterly one hundred and twenty feet by full width of said parcel 153/23 fronting on Bladens- burg Road ." Approved, June 4, 1934 . District of Columbia . Mount Olivet Ceme- t ery Compa ny . Vol . 12, p. 42 6, amended . Additional tracts set aside for burial pur- poses. Description . Proviso . Are a excluded.