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.
(Cite as: 8 V.S.A. § 4477)
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§ 4477. Beneficiaries
(a) The member shall have the right at all times to change the beneficiary or beneficiaries
in accordance with the constitution, laws, or rules of the society. Every society
by its constitution, laws, or rules may limit the scope of beneficiaries and shall
provide that no beneficiary shall have or obtain any vested interest in the proceeds
of any certificate until the certificate has become due and payable in conformity
with the provisions of the insurance contract.
(b) A society may provide for the payment of funeral benefits to the extent of such portion
of any payment under a certificate as might reasonably appear to be due to any person
equitably entitled to such benefits by reason of having incurred expense occasioned
by the burial of the member, provided the portion paid shall not exceed the sum of
$500.00.
(c) If, at the death of any member, there is no lawful beneficiary to whom the insurance
benefits are payable, the amount of the benefits, except to the extent that funeral
benefits may be paid as provided in this section, shall be payable to the personal
representative of the deceased member. (Added 1959, No. 197, § 17, eff. Nov. 22, 1959; amended 2021, No. 105 (Adj. Sess.), § 192, eff. July 1, 2022.)