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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

101

:
INSURANCE COMPANIES GENERALLY






Subchapter

011
:
PAYMENTS TO NONRESIDENTS' ESTATES










 

§

3641. Claims, rights, title and interests of nonresidents

When by the

terms of any policy of insurance, annuity contract, or contract supplemental to

any policy of insurance or annuity contract, issued by an insurance company

organized under the laws of this state, any claim, right, title, or interest

therein is vested in a person residing in another state or country, or in the

estate of such nonresident person, such claim may be paid to, and such right,

title, or interest may be transferred or released by, the administrator,

executor, or guardian of such nonresident person or estate appointed in the

state or country where the person resides or resided at the time of death,

provided no administrator, executor, or guardian of such nonresident person or

estate has been appointed in this state at the time of such payment, transfer,

or claim. (1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 12, § 1).)