Common use of CHANGE OF OWNER Clause in Contracts

CHANGE OF OWNER. If this Contract has a tax qualification endorsement, then you may not transfer, sell, or in any way alienate your interest in this Contract except to the limited extent provided in the tax qualification endorsement. If the cover page states that this Contract is a Nonqualified Xxxxxxx, then you may transfer ownership of this Contract only with our written consent. A change of Owner must be made by a Request in Good Order. A change of Owner cancels all prior Beneficiary designations. It does not cancel a designation of an Annuitant or a Payout Option election.