§431:10-230 - Payment discharges insurer.
§431:10-230 Payment discharges insurer. Wheneverthe proceeds of, or payments under, a policy or contract for life insurance, oraccident and health or sickness insurance become payable in accordance with theterms of the policy or the exercise of any right or privilege under the policy,and the insurer makes payments in accordance with the terms of the policy orwith a written assignment pursuant to section 431:10-229, the person designatedin the policy or by the assignment as being entitled to the proceeds orpayments, shall be entitled to receive them and to give full acquittance forsuch payment. Such payment by the insurer shall fully discharge the insurerfrom all claims under the policy unless before the payment is made, the insurerhas received at its home office written notice, by or on behalf of some otherperson, that such other person claims to be entitled to such payment or someinterest in the policy. [L 1987, c 347, pt of §2; am L 2002, c 155, §46]