§ 43:16A-59 — Payment of benefits under group policies

Benefits under such group policy or policies shall be paid by the insurance company to such person, if living, as the member shall have nominated by written designation duly executed and filed with the insurance company through the policyholder, otherwise to the executors or administrators of the member's estate. A member may file with the insurance company through the policyholder and alter from time to time during his lifetime, as desired, a duly attested written nomination of his payee for the death benefit. L.1964, c. 241, s. 26, eff. Jan. 1, 1967. Amended by L.1967, c. 250, s. 23, eff. Dec. 18, 1968.