§ 15558.2. Assignment, or Designation of Beneficiary, of Life Insurance Contract.

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If an individual makes an irrevocable and gratuitous assignment, or designation of a beneficiary, of a fully or partially paid-up life insurance policy issued on his life, the value of the gift is the cost of replacing or reproducing the policy at the date of the gift.

Note

Note: Reference: Section 15558, Revenue and Taxation Code.

                    
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