Payments to Minors and Incompetents. If the Executive or Beneficiary entitled to receive any benefits hereunder is a minor or is deemed by the Company or is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, payment of benefits will be made to the duly appointed guardian or legal representative of such minor or incompetent or to such other legally appointed person as the Company may designate. Such payment shall, to the extent made, be deemed a complete discharge of any liability for such payment under this Agreement.
Payments to Minors and Incompetents. If a Participant or Beneficiary entitled to receive any benefits hereunder is a minor or is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, or is deemed so by the Administrator, benefits will be paid in conformity with applicable Annuity Contracts or Custodial Accounts. If the applicable Annuity Contracts or Custodial Accounts do not address the issue of payments to minors and incompetents, then the Administrator shall direct payment of the benefit to such person as the Administrator may designate for the benefit of such Participant or Beneficiary. Such payments shall be considered a payment to such Participant or Beneficiary and shall, to the extent made, be deemed a complete discharge of any liability for such payments under the Plan.
Payments to Minors and Incompetents. If the Company receives satisfactory evidence that a Member or other recipient entitled to receive any benefit hereunder is physically or mentally incompetent to receive such benefit and to give a valid release therefore, or is a minor, and that another person or an institution is then maintaining or has custody of such Member of other recipient and that no tutor, guardian, family council or other representative of such Member or other recipient has been duly and legally appointed, the Company may authorize the payment of such benefit to such other person or institution, whose receipt shall be a valid and complete discharge for the payment of such benefit.
Payments to Minors and Incompetents. If a Member or beneficiary entitled to receive a benefit under the Plan is a minor or is determined by the Committee in its discretion to be incompetent or is adjudged by a court of competent jurisdiction to be legally incapable of giving valid receipt and discharge for a benefit provided under the Plan, the Committee may pay such benefit to the duly appointed guardian or conservator of such Member or beneficiary for the account of such Member or beneficiary. If no guardian or conservator has been appointed for such Member or beneficiary, the Committee may pay such benefit to any third party who is determined by the Committee, in its sole discretion, to be authorized to receive such benefit for the account of such Member or beneficiary. Such payment shall operate as a full discharge of all liabilities and obligations of the Committee, the Trustee, the Employer, and any fiduciary of the Plan with respect to such benefit.
Payments to Minors and Incompetents. If a distribution is to be made to a minor or incompetent Participant or Beneficiary, payments may be made to the person’s legal guardian, conservator recognized under state law, or custodian in accordance with the Uniform Gifts to Minors Act or similar law as permitted under the laws of the state where the Participant or Beneficiary resides. The Administrator will not be liable for any payments made in accordance with this section 9.5 and shall, to the extent made, be deemed to discharge any corresponding liability under the Plan. The Administrator will not be required to make any inquiries with respect to the competence of any person entitled to benefits under the Plan
Payments to Minors and Incompetents. If any person to whom a payment is to be made is a minor or is otherwise incompetent to receive the payment or to give a release for it, the payment may be made to the legal representative of the person. If there is no legal representative, the payment may be made in the manner determined by the Trustees.
Payments to Minors and Incompetents. If the Plan Administrator deems any person incapable of receiving benefit payments by reason of minority, illness, infirmity or other incapacity, it may direct payment directly for the benefit of such person, or to any person selected by the Plan Administrator to disburse it. Such payment, to the extent thereof, will discharge all liability for such payment under the Plan.
Payments to Minors and Incompetents. If a Participant or Beneficiary entitled to receive any benefits hereunder is a minor or is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, or is deemed so by the Committee, benefits will be paid to such person as the Committee may designate for the benefit of such Participant or Beneficiary. Such payments shall be considered a payment to such Participant or Beneficiary and shall, to the extent made, be deemed a complete discharge of any liability for such payments under the Plan.
Payments to Minors and Incompetents. If a Participant or Beneficiary entitled to receive any Plan benefits is a minor or is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, or is deemed so by the Administrator, benefits will be paid to such person as the Administrator may designate for the benefit of such Participant or Beneficiary. Such payments will be considered a payment to such Participant or Beneficiary and will to the extent made be deemed a complete discharge of any liability for such payments under the Plan.
Payments to Minors and Incompetents. If the Company receives satisfactory evidence that a Member or other recipient entitFed to receive any benefit hereunder is physicaFFy or mentaFFy incompetent to receive such benefit and to give a vaFid reFease therefore, or is a minor, and that another person or an institution is then maintaining or has custody of such Member of other recipient and that no tutor, guardian, famiFy counciF or other representative of such Member or other recipient has been duFy and FegaFFy appointed, the Company may authorize the payment of such benefit to such other person or institution, whose receipt xxxXX be a vaFid and compFete discharge for the payment of such benefit.
