Common use of Additional Requirements and Exceptions For Spousal Consent Clause in Contracts

Additional Requirements and Exceptions For Spousal Consent. Notwithstanding subparagraph (7) above, a Spouse’s consent will not be required if there is no Spouse, if the Spouse cannot be located, or if there are other circumstances (as set forth in the Code or Regulations) which preclude the necessity of such Spouse’s consent. Any consent by a Participant’s Spouse (or establishment that consent cannot be obtained) will be effective only with respect to such Spouse. A consent that permits designations by the Participant without any requirement of further Spousal consent must acknowledge that the Spouse has the right to limit consent to a specific Beneficiary, and a specific form of benefit where applicable, and that the Spouse voluntarily elects to relinquish either or both of such rights. A revocation of a prior election may be made by a Participant without the Spouse’s consent at any time before benefits begin. No Spouse’s consent obtained under subparagraph (7) will be valid unless the Participant has received notice as provided in subparagraph (4) above.