ASSIGNMENTS AND NONTRANSFERABILITY. The interest of the Annuitant under the Contract is nonforfeitable. This Contract is nontransferable by the Annuitant. No interest of the Annuitant under the Contract may be sold, assigned, discounted, or pledged as collateral for a loan or as security for the performance of an obligation or for any other purpose to any person other than AXA Equitable. No amount payable under the Contract may be assigned or encumbered by the payee and, to the extent permitted by law, no such amount will in any way be subject to any claim against such payee.
Appears in 3 contracts
Samples: Individual Retirement Annuity Contract (Separate Account No 301 of Axa Equitable Life Insurance Co), Separate Account No 301 of Axa Equitable Life Insurance Co, Separate Account No 301 of Axa Equitable Life Insurance Co
ASSIGNMENTS AND NONTRANSFERABILITY. The interest of the Annuitant under the Contract is nonforfeitable. This Contract is nontransferable by the Annuitant. No interest of the Annuitant under the Contract may be sold, assigned, discounted, or pledged as collateral for a loan or as security for the performance of an obligation or for any other purpose to any person other than AXA Equitable. No amount payable under the Contract may be assigned or encumbered by the payee and, to the extent permitted by law, no such amount will in any way be subject to any claim against such payee.
Appears in 1 contract
Samples: Separate Account No 301 of Axa Equitable Life Insurance Co
