The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
GENERALLY
(Cite as: 8 V.S.A. § 3712)
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§ 3712. Payment discharges insurer
Whenever the proceeds of or payments under a life or disability insurance policy or
annuity contract heretofore or hereafter issued become payable in accordance with
the terms of such policy or contract, or the exercise of any right or privilege thereunder,
and the insurer makes payment thereof in accordance therewith or in accordance with
any written assignment thereof, the person then designated as being entitled thereto
shall be entitled to receive such proceeds or payments and to give full acquittance
therefor, and such payments shall fully discharge the insurer from all claims under
the policy or contract unless, before payment is made, the insurer has received at
its home office written notice by or on behalf of some other person that such other
person claims to be entitled to such payment or some interest in the policy or contract. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 2, subch. 1, § 12).)