Chap. 180.—An ACT authorizing the assignment of life insurance policies.

Approved April 27, 1903.

1. Be it enacted by the general assembly of Virginia, That a policy of
insurance on life, taken out by the insured himself, or by a person having
an insurable interest in his life, in good faith, and not for the mere pur-
pose of assignment, may be lawfully assigned to any one, for a valuable
consideration, as any other chose in action, without regard te whether
the assignee has an insurable interest in the life insured or not, and the
assignee may recover upon it whatever the insured may have recovered
but for such assignment.

2. This act shall be in force from its passage.