Common use of Distributions To Minors And Individuals Who Are Legally Incompetent Clause in Contracts

Distributions To Minors And Individuals Who Are Legally Incompetent. Benefits payable to either a minor or an individual who has been declared legally incompetent shall be paid, at the direction of the conservator appointed either under a court order or applicable state law that permits such an individual to be a court appointed guardian for the benefit of said minor or incompetent.

Appears in 9 contracts

Samples: Defined Contribution Plan, Defined Contribution Plan, Defined Contribution Plan (1st Constitution Bancorp)

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Distributions To Minors And Individuals Who Are Legally Incompetent. Benefits payable to either a minor or an individual who has been declared legally incompetent shall be paid, at the direction of the conservator appointed either under a court order or applicable state law that which permits such an individual to be a court appointed guardian for the benefit of said minor or incompetent.

Appears in 4 contracts

Samples: Defined Contribution Plan (FNB United Corp.), 401(k) Defined Contribution Plan (Measurement Specialties Inc), Defined Contribution Plan (United Community Bancorp)

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Distributions To Minors And Individuals Who Are Legally Incompetent. Benefits payable to either a minor or an individual who has been declared legally incompetent shall be paid, paid at the direction of the conservator appointed either under a court order or applicable state law that permits such an individual to be a court appointed guardian for the benefit of said minor or incompetent.

Appears in 2 contracts

Samples: Savings and Investment Plan Document (Sterling Chemicals Inc), Adoption Agreement (Sterling Chemicals Inc)

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