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97b-34a
97B.34A PAYMENT TO MINORS.
1. The system may make payments to a minor, as defined in section
599.1, as follows:
a. If the total sum to be paid to the minor is less than the
greater of twenty-five thousand dollars or the maximum amount
permitted under section 565B.7, subsection 3, the funds may be paid
to an adult as custodian for the minor. The custodian must complete
the proper forms as determined by the system.
b. If the total sum to be paid to the minor is equal to or
more than the amount authorized in paragraph "a", the funds must
be paid to a court-established conservator. The system shall not
make payment until the conservatorship has been established and the
system has received the appropriate documentation.
c. Interest shall be paid on the funds, at a rate determined
by the system, until disbursement of the funds.
2. If the system makes payments to a minor pursuant to this
section, the system may make payments directly to the person when the
person attains the age of eighteen or is declared to be emancipated
by a court of competent jurisdiction. Section History: Recent Form
92 Acts, ch 1201, §23; 2001 Acts, ch 68, §21, 24; 2003 Acts, ch
145, §286; 2008 Acts, ch 1032, §201; 2008 Acts, ch 1171, §29, 48
