58-12-10. Benefits, rights, privileges, or options nontransferable under annuity contract--Not subject to commutation--Exemption from execution.
If an annuity contract so provides, the benefits, rights, privileges, or options accruing under such contract to a beneficiary or assignee shall not be transferable nor subject to commutation, and if the benefits are payable periodically or at stated times, the same exemptions and exceptions contained in §§58-12-6 to 58-12-9, inclusive, for the annuitant, shall apply with respect to such beneficiary or assignee.
Source: SL 1966, ch 111, ch 22, §32 (2).