Montana Code 19-20-1009. Payment to minor child — opportunity to name custodian
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.
Terms Used In Montana Code 19-20-1009
- 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.
- Individual: means a human being. See Montana Code 19-20-101
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(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.