If the Collateral Assignment is to be released, the Assignee must complete a collateral release form dated prior to the Absolute Assignment. Some forms may be available as fillable PDF's in the Adobe Sign library accessible via the SSO portal.The "Assignee" is the person(s), firm(s), or trust(s) (usually named on an Assignment form, RI 76-10) who owns and controls the Insured's life insurance. You have 30 calendar days after this Summons and. Petition are served on you to file a Response (form.