Common use of Control of Contract Clause in Contracts

Control of Contract. This is a Contract between the Contract Holder and GALIC. The Contract Holder has all rights, title and interest for amounts held in the Account. Choices made under this Contract must be in writing. If the Account is owned jointly, both joint Contract Holders must authorize any Contract Holder change in writing. Until receipt of such choices at GALIC's Customer Service Center, GALIC may rely on any previous choices made. The Contract is not subject to the claims of any creditors of the Contract Holder, except to the extent permitted by law. The Contract Holder may assign or transfer his or her rights under the Contract. GALIC reserves the right not to accept assignment or transfer to a nonnatural person. Any assignment or transfer made under the Contract must be submitted to GALIC's Customer Service Center in writing and will not be effective until accepted by GALIC.