Payments to Minors. In the event a distribution is to be made to a minor, the board may direct that such distribution be paid to the legal guardian, or if none, to a parent of such beneficiary or a responsible adult with whom the beneficiary maintains his residence, or to the custodian of such beneficiary under the Uniform Gift to Minors Act or, if such is permitted by the law of the state in which said beneficiary resides, such a payment to the legal guardian, custodian or parent of a minor beneficiary shall fully discharge the board from further liability on account thereof.
Appears in 5 contracts
