Common use of Competence of Payees Clause in Contracts

Competence of Payees. Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on whcih the Bank receives written notice, in form and manner acceptable to it, that such person is incompetent and that a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or conservator of the estae or any person receiving or claiming payment hereunder shall be appointed by a court of competent jurisdicition, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing qualificaiton is furnished in a form and manner acceptable to the Bank. Any such payment so made shall be a complete discharge of liability therefor.

Competence of Payees. Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on whcih which the Bank Association receives a written notice, in form and manner acceptable to it, that such person is incompetent and that a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or conservator of the estae estate or any person receiving or claiming payment payments hereunder shall be appointed by a court of competent jurisdicitionjurisdiction, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing qualificaiton qualification is furnished in a form and manner acceptable to the BankAssociation. Any such payment so made shall be a complete discharge of liability therefor.

Competence of Payees. Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on whcih which the Bank receives a written notice, in form and manner acceptable to it, that such person is incompetent and that a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or conservator of the estae estate or any person receiving or claiming payment payments hereunder shall be appointed by a court of competent jurisdicitionjurisdiction, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing qualificaiton qualification is furnished in a form and manner acceptable to the Bank. Any such payment so made shall be a complete discharge of liability therefor.

Competence of Payees. Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on whcih which the Bank receives a written notice, in form and manner acceptable to it, that such person is incompetent and that that, a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or conservator of the estae estate or any person receiving or claiming payment payments hereunder shall be appointed by a court of competent jurisdicitionjurisdiction, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing qualificaiton qualification is furnished in a form and manner acceptable to the Bank. Any such payment so made shall be a complete discharge of liability therefor.