19-20-1009. Payment to minor child -- opportunity to name custodian. (1) The retirement system may not make a payment directly to an individual who is less than 21 years of age.
(2) The retirement system shall make a payment to which a minor child is entitled by making the payment to an entity or adult designated as a custodian for the minor child pursuant to the Montana Uniform Transfers to Minors Act or to a person or entity designated by court order as legal guardian or conservator for the minor child.
(3) If a custodian for the child has not been designated, the retirement system shall withhold payment of any amount until the minor child attains 21 years of age or until a court order of guardianship or conservatorship is issued on behalf of the child.
History: En. Sec. 18, Ch. 276, L. 2019.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 20. Teachers' Retirement
19-20-1001. Payments upon death of member prior to retirement
19-20-1002. Payments upon death of retiree
19-20-1003. Payment of death benefits
19-20-1004. Compliance with federal act
19-20-1005. Alternate beneficiaries
19-20-1006. When beneficiaries designated -- eligible beneficiaries -- right to renounce
19-20-1007. Requirements for beneficiary designation to be effective
19-20-1009. Payment to minor child -- opportunity to name custodian