(2) A designation of beneficiary is revocable for the purposes of this section if the principal at the time of the judgment may, by law or under the terms of the instrument, cancel or change the designation of beneficiary.
(3) A designation of beneficiary is revocable for the purposes of this section without regard to whether the principal is:
(a) Competent at the time of the entry of judgment; or
(b) Able to designate the principal in place of the spouse or in place of the relative of the spouse.
(4) The revocation of a designation of beneficiary under this section becomes effective upon entry of the judgment. [2005 c.285 §3]
Note: See note under 107.118.