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- Alaska Statutes.
- Title 21. Insurance
- Chapter 42. The Insurance Contract
- Section 290. Minor May Give Acquittance.
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. Payment Discharges Insurer.
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. Forms For Proof of Loss to Be Furnished.
AS 21.42.290. Minor May Give Acquittance.
- (a) A minor domiciled in this state who has attained the age of 16 years shall be considered competent to receive and to
give full acquittance and discharge for a payment or payments in aggregate amount not exceeding $3,000 in any one year
made by a life insurer under the maturity, death, or settlement agreement provisions in effect or elected by the minor
under a life insurance policy or annuity contract, if the policy, contract, or agreement provides for the payment or
payments to the minor, and if before the payment the insurer has not received written notice of the appointment of a
duly qualified guardian of the property of the minor. A minor is not competent to alienate to the right to or to
anticipate the payments.
- (b) This section does not require an insurer to determine whether another insurer is effecting a similar payment to the
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