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Commercial Act — Article 734 (Notification of Right to Designate Beneficiary of Insurance, etc.)

상법 제734조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) If, after entering into a contract, a policyholder designates or changes a beneficiary, such designation or change shall not be asserted against an insurer, unless the insurer has been given notice thereof.

(2) The provisions of Article 731 (1) shall apply mutatis mutandis to the designation or change mentioned in paragraph (1). <Amended by Act No. 1212, Dec. 12, 1962; Act No. 4470, Dec. 31, 1991>

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