Indiana Code 27-2-11.1-2. Competence to receive insurance payments
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Terms Used In Indiana Code 27-2-11.1-2
- Contract: A legal written agreement that becomes binding when signed.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Sec. 2. No person eighteen (18) years of age or over is incompetent because of age to receive and give full acquittance and discharge for payments or execute assignments under the provisions of an insurance contract or under the provisions of a settlement agreement executed in connection with any such contract of insurance.
Formerly: Acts 1973, P.L.275, SEC.5.