17-5829.   Same; duties of association; release anddischargethereof.When the owner and the savings and loan association have entered into acontract authorized in K.S.A. 17-5828 and amendments thereto,the owner's depositaccount subject to the contract or any part of or interest on theaccount shall be paid by the savingsand loan association to the owneror pursuant to the owner's order duringthe owner's lifetime. On theowner's death, the deposit account or any part of or interest on theaccount may be paid by the savings andloan associationto the secretary of social and rehabilitation services for a claim pursuantto subsection (g) of K.S.A. 39-709 and amendments thereto or, if there is nosuch claim or if any portion of the account remains after such claim issatisfied,to thedesignated beneficiary or beneficiaries. If any designatedbeneficiary is a minor at the time the account, or any portion of the account,becomes payable to the beneficiary and thebalance, or portion of the balance,exceeds the amount specified by K.S.A. 59-3053, and amendmentsthereto, thesavings and loanassociationshall pay the moneys or any interest on themonly to a conservator of the minor beneficiary. The receipt of theconservator shall releaseand discharge the savings and loan association for the payment.

      History:   L. 1979, ch. 177, § 4;L. 1984, ch. 51, § 6;L. 1992, ch. 150, § 6;L. 2002, ch. 114, § 52; July 1.