North Carolina General Statutes 135-17. Facility of payment
Terms Used In North Carolina General Statutes 135-17
- 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
- Beneficiary: shall mean any person in receipt of a pension, an annuity, a retirement allowance or other benefit as provided by this Chapter. See North Carolina General Statutes 135-1
- Beneficiary: shall mean any person in receipt of a pension, an annuity, a retirement allowance or other benefit as provided by this Chapter. See North Carolina General Statutes 135-1
- Board of Trustees: shall mean the Board provided for in N. See North Carolina General Statutes 135-1
- Board of Trustees: shall mean the Board provided for in N. See North Carolina General Statutes 135-1
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Member: shall mean any teacher or State employee included in the membership of the System as provided in N. See North Carolina General Statutes 135-1
- Member: shall mean any teacher or State employee included in the membership of the System as provided in N. See North Carolina General Statutes 135-1
In the event of the death of a member or beneficiary not survived by a person designated to receive any return of accumulated contributions or balance thereof, or in the event that the Board of Trustees shall find that a beneficiary is unable to care for his affairs because of illness or accident, any benefit payments due may, unless claim shall have been made therefor by a duly appointed guardian, committee or other legal representative, be paid to the spouse, a child, a parent or other blood relative, or to any person deemed by the Board of Trustees to have incurred expense for such beneficiary or deceased member, and any such payments so made shall be a complete discharge of the liabilities of this Retirement System therefor. (1949, c. 1056, s. 6.)