Common use of Payments to Minors and Incompetents Clause in Contracts

Payments to Minors and Incompetents. If the Company receives satisfactory evidence that a Member or other recipient entitled to receive any benefit hereunder is physically or mentally incompetent to receive such benefit and to give a valid release therefore, or is a minor, and that another person or an institution is then maintaining or has custody of such Member of other recipient and that no tutor, guardian, family council or other representative of such Member or other recipient has been duly and legally appointed, the Company may authorize the payment of such benefit to such other person or institution, whose receipt shall be a valid and complete discharge for the payment of such benefit.

Payments to Minors and Incompetents. If the Company receives satisfactory evidence that a Member or other recipient entitled to receive any benefit hereunder is physically or mentally incompetent to receive such benefit and to give a valid release therefore, or is a minor, and that another person or an institution is then maintaining or has custody of such Member of other recipient and that no tutor, guardian, family council or other representative of such Member or other recipient has been duly and legally appointed, the Company may authorize the payment of such benefit to such other person or institution, whose receipt shall be a valid and complete discharge for the payment of such benefit.