Vermont § 3712 - Payment discharges insurer

§ 3712. Payment discharges insurer

• Whenever the proceeds of or payments under a life or disability insurance policy or
  annuity contract heretofore or hereafter issued become payable in accordance with
  the terms of such policy or contract, or the exercise of any right or privilege thereunder,
  and the insurer makes payment thereof in accordance therewith or in accordance with
  any written assignment thereof, the person then designated as being entitled thereto
  shall be entitled to receive such proceeds or payments and to give full acquittance
  therefor, and such payments shall fully discharge the insurer from all claims under
  the policy or contract unless, before payment is made, the insurer has received at
  its home office written notice by or on behalf of some other person that such other
  person claims to be entitled to such payment or some interest in the policy or contract. (Added 1967, No. 344 (Adj