Spendthrift. To the extent permitted by law, no payment of principal or interest to anyone entitled to proceeds under this contract shall be subject in any way to the debts, contracts, or engagements or to any judicial process to levy upon or attach the proceeds for payment. No settlement option payment and no amount held under a settlement option can be commuted, anticipated, encumbered, alienated, or assigned in advance of its payment date unless the Owner's written consent is given before the Annuitant dies. This consent must be received and acknowledged by Our Variable Product Service Center.
Spendthrift. A spendthrift provision in a trust protects the assets of the trust from a beneficiary or their creditors. A beneficiary cannot assign their interest in the trust to any other person or entity before the interest is distributed and cannot be pledged as collateral or other security interest. The Trust is a spendthrift trust and contains robust spendthrift provisions to protect trust assets.
Spendthrift. Notwithstanding anything to the contrary contained in this Agreement, your right to any amounts payable to you under subparagraphs 3A through 3C above shall not be assignable except that payments to which you are entitled after death may be made to the legal representative of your estate or to your designated beneficiaries.
Spendthrift. No interest of any Beneficiary in any Trust created pursuant to any provision hereof, nor any part of such interest, shall be anticipated, assigned, encumbered or by other means transferred or be subject to any creditor's claim, liable to attachment or any other legal process prior to its actual receipt by the Beneficiary thereof and any attempted transfer, whether voluntarily, involuntarily or by operation of law, shall result in the complete forfeiture of such Trust Estate by the Trust. This Trust has been established for the sole and exclusive benefit of Beneficiary and Trustor and is intended to encourage the continued employment of Beneficiary with Netgateway, Inc. The rights of Beneficiary hereunder are personal to Beneficiary and may not be assigned, transferred or hypothecated, without the express written consent of Trustee.
Spendthrift. A Participating Employee or Beneficiary shall not have a right to assign any benefits provided by this Plan. The benefits provided by this Plan shall not be subject to seizure by legal process or be in any way subject to the claims of a Participating Employee’s or Beneficiary’s creditors.
Spendthrift. The beneficiaries, shall not have the right or power to anticiptate[ate, encumber, or transfer his or her interest in any manner. No part of the Trust Estate shall be liable for or charged with any debts, contracts, liabilities, or torts of the beneficiaries or subject to seizure or other process by any creditor of the beneficiaries. The interest of beneficiaries in the principal and/or income of any trust created hereunder shall not be subject to the claims of their creditors or creditors of others, including the creditors of the spouse of a married beneficiary, nor to any legal process, and may not be voluntarily or involuntarily alienated or encumbered,
Spendthrift. To the extent permitted by law, no benefits to any Trust Beneficiary under this Trust Agreement may be anticipated, assigned (either at law or in equity), alienated, sold, transferred or pledged, and shall not be subject to attachment, garnishment, levy, execution, encumbrance of any kind, or other legal or equitable process and no benefit (nor this Trust Fund) shall be subject in any manner to the debts or liabilities of any Trust Beneficiary. No benefit actually paid to a Trust Beneficiary by the Trustee upon the Plan Administrator's direction (or in any case after a Change of Control has occurred) shall be subject to any claim for repayment by any Participating Employer or the Trustee, unless it is established that the Trust Beneficiary was not entitled to such payment under the Deferred Compensation Plan.
Spendthrift. No interest of any Beneficiary in any Trust created pursuant to any provision hereof, nor any part of such interest, shall be anticipated, assigned, encumbered or by other means transferred or be subject to any creditor's claim, liable to attachment or any other legal process prior to its actual receipt by the Beneficiary thereof.
Spendthrift. Except as provided below, the interest of the Grantor in either the income or the Trust Property of the Trust shall not be alienated in any manner, assigned, encumbered, or transferred, in whole or in part, by the Grantor without the express written consent of the Trustee, which consent may be given or withheld in Trustee’s sole and absolute discretion. Grantor’s interest in the Trust shall be exempt from execution, attachment, distress for rent, and other legal or equitable process which may be instituted by or on behalf of any creditor or assignee of Grantor. Notwithstanding the foregoing, upon the completion of the dissolution and liquidation of the Grantor, Grantor’s contingent interest to receive the Trust Property after resolution of the California Claim may be assigned to the Permitted Assignees provided that the Grantor notifies the Trustee (i) that it has fully dissolved and liquidated and (ii) of the names, addresses, federal identification numbers, and percentage interest of the Permitted Assignees.
Spendthrift. Section 14.1: Except to the extent provided herein and in the Participation Agreement, no Member or beneficiary of the Trust and no Local Agency participating in a program of the Trust shall have any other interest in or right to the assets of this Trust, and to the full extent of all applicable laws, the assets of this Trust shall not be subject to any form of attachment, garnishment, sequestration or other actions afforded creditors of the Founders, Administrator, any Member or beneficiary of any of the foregoing. Subject to the provisions hereof, the Trustees shall take cognizance of no assignment or alienation of benefits unless, and then only to the extent, written notice is received from the Administrator or the Members. (Amended June 3, 2011.)
