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Terms Used In Alabama Code 8-1-170

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1

Except as provided in Sections person not void if made in good faith” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”8″>8-1-171 and 8-1-172, and contracts of fire and tornado insurance wherein the insane person is the beneficiary, all contracts of an insane person are void; but he and his estate shall be liable for necessaries furnished him, which may be recovered upon the same proof and upon the same conditions as if furnished to an infant.