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The limitation on transferability is used for securing a loan by means of the entitlements from the insurance contract. The insurance policyholder applies to the insurance undertaking for limitation on transferability. Then the insurance undertaking deposits a declaration of limitation on transferability to the creditor to whom transferability is limited (e.g. a bank). Consequently entitlements can only be paid out to the policyholder by the insurance undertaking with the approval of the creditor to whom transferability is limited.

Term-Nr.: 539

German: Vinkulierung (859)

Source: FMA AT m. e. E., 30.10.2018

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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