Vermont Statutes Title 8 Sec. 3641
Terms Used In Vermont Statutes Title 8 Sec. 3641
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 3641. Claims, rights, title, and interests of nonresidents
When by the terms of any policy of insurance, annuity contract, or contract supplemental to any policy of insurance or annuity contract, issued by an insurance company organized under the laws of this State, any claim, right, title, or interest therein is vested in a person residing in another state or country, or in the estate of such nonresident person, such claim may be paid to, and such right, title, or interest may be transferred or released by, the administrator, executor, or guardian of such nonresident person or estate appointed in the State or country where the person resides or resided at the time of death, provided no administrator, executor, or guardian of such nonresident person or estate has been appointed in this State at the time of such payment, transfer, or claim. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 12, § 1).)