Maine Revised Statutes Title 5 Sec. 17055 – Beneficiary who is an incapacitated person or a minor
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For the purposes of this Part: [PL 1985, c. 801, §§ 5, 7 (NEW).]
1. Election of benefit. If a beneficiary is not lawfully qualified to make an election, the election must be made for the beneficiary by the person authorized to do so by Title 18-C, Article 5; and
[PL 2017, c. 402, Pt. C, §14 (AMD); PL 2019, c. 417, Pt. B, §14 (AFF).]
Terms Used In Maine Revised Statutes Title 5 Sec. 17055
- Beneficiary: means a person or persons designated by a member to receive a benefit under this Part or a person otherwise entitled to receive a benefit under this Part. See Maine Revised Statutes Title 5 Sec. 17001
- 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
- Benefit: means any payment made, or required to be made, to a beneficiary under chapter 423, subchapter V or chapter 425, subchapter V. See Maine Revised Statutes Title 5 Sec. 17001
2. Payment of benefit. Payment of any benefit to an individual subject to guardianship, as defined in Title 18-C, section 5-102, or a minor must be made in accordance with Title 18-C, Article 5.
[PL 2017, c. 402, Pt. C, §14 (AMD); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 2017, c. 402, Pt. C, §14 (AMD). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).