Section 58-12-7 - Premiums paid on annuity with intent to defraud creditors not exempt fromexecution.
58-12-7. Premiums paid on annuity with intent to defraud creditors not exempt from execution. Section 58-12-6 does not apply to amounts paid as premium on any such annuity with the intent to defraud creditors, with interest thereon, and of which the creditor has given the insurer written notice at its home office prior to the making of the payments to the annuitant out of which the creditor seeks to recover. Any such notice shall specify the amount claimed or such facts as will enable the insurer to ascertain such amount, and shall set forth such facts as will enable the insurer to ascertain the annuity contract, the annuitant and the payment sought to be avoided on the ground of fraud.
Source: SL 1966, ch 111, ch 22, § 32 (1) (a).