Common use of Incompetent Recipient Clause in Contracts

Incompetent Recipient. If an amount is payable to a person known by the Custodian to be a minor or under a legal disability, the Custodian may, in its absolute discretion, pay all or any part of such amount to (a) a parent of such person, (b) the guardian, committee or other legal representative, wherever appointed, of such person, including a custodian for such person under a Uniform Transfers to Minors Act or similar act, (c) any person having the control and custody of such person, or (d) to such person directly.

Incompetent Recipient. If an amount is payable to a person known by the Custodian to be a minor or under a legal disability, the Custodian may, in its absolute discretion, pay all or any part of such amount to (a) a parent of such person, (b) the guardian, committee or other legal representative, wherever appointed, of such person, including a custodian for such person under a Uniform Transfers to Minors Act or similar act, (c) any person having the control and custody of such person, or (d) to such person directly.,

Incompetent Recipient. If an amount is payable to a person known by the Custodian to be a minor or under a legal disability, the Custodian may, in its absolute discretion, pay all or any part of such amount to (a) a parent of such person, (b) the guardian, committee or other legal representative, wherever appointed, of such personper- son, including a custodian for such person under a Uniform Transfers to Minors Act or similar act, (c) any person having the control and custody of such person, or (d) to such person directly.