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ADB NET CORP. v. COLUMBIAN MUTUAL LIFE INS. CO.

378, 156700/14.

137 A.D.3d 445 (2016)

25 N.Y.S.3d 871

2016 NY Slip Op 01553

ADB NET CORP., Doing Business as PREFERRED FUNERAL FUNDING CORP., Respondent-Appellant, v. COLUMBIAN MUTUAL LIFE INSURANCE COMPANY, Appellant-Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided March 3, 2016.

Life insurance proceeds are freely assignable in New York (see Kramer v Phoenix Life Ins. Co., 15 N.Y.3d 539, 551-553 [2010]), where, as here, it is undisputed that the assignment provision contains no restriction on the beneficiary's right to assign. Columbian, which was put on notice of the assignments, chose to disburse the assigned funds to the original beneficiaries, rather than to the beneficiaries' assignee, Preferred. Columbian...

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