Alabama Code 45-37A-51.236. Designation of severance beneficiary
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Each such designation shall be signed and dated by the employee member, and the last signed and dated designation shall prevail over any former designation. The rights of the last designated severance beneficiary shall be governed by Section 45-37A-51.235.
Terms Used In Alabama Code 45-37A-51.236
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1