Stamp Duty Act

85. Assignment of policy of life insurance to be stamped before payment of money assured

Edition: 2026-07-01 · In force

85. Assignment of policy of life insurance to be stamped before payment of money assured

(1)No assignment of a policy of life insurance shall confer on the assignee therein named, or his executors, administrators or assigns, any right to sue for the money assured or secured thereby, or to give a valid discharge therefor, or any part thereof, unless the assignment is duly stamped, and no payment shall be made to any person claiming under any such assignment unless it is duly stamped.

(2)If any payment is made in contravention of this section, the duty not paid upon the assignment, together with the penalty payable on stamping the same, shall be a debt due to the Government from the person by whom the payment is made.

Receipts

← Previous provision Next provision →

Source: Kenya Law