QUOTE
TITLE 41
INSURANCE
CHAPTER 18
THE INSURANCE CONTRACT
41-1807. POWER TO CONTRACT -- PURCHASE OF INSURANCE BY MINORS. (1) Any
person of competent legal capacity may contract for insurance.
(2) Any minor not less than fifteen (15) years of age, notwithstanding
his minority, may contract for annuities or for insurance upon his own
life, body, health, property, liabilities or other interests, or on the
person of another in whom the minor has an insurable interest. Such a minor
shall, notwithstanding such minority, be deemed competent to exercise all
rights and powers with respect to or under (a) any contract for annuity or
for insurance upon his own life, body or health, or (
any contract such
minor effected upon his own property, liabilities or other interests, or on
the person of another, as might be exercised by a person of full legal age,
and may at any time surrender his interest in any such contracts and give
valid discharge for any benefit accruing or money payable thereunder. Such
a minor shall not, by reason of his minority, be entitled to rescind, avoid
or repudiate the contract, nor to rescind, avoid or repudiate any exercise
of a right or privilege thereunder, except that such a minor not otherwise
emancipated, shall not be bound by any unperformed agreement to pay by
promissory note or otherwise, any premium on any such annuity or insurance
contract.
(3) Any annuity contract or policy of life or disability insurance
procured by or for a minor under subsection (2) above, shall be made
payable either to the minor or his estate or to a person having an
insurable interest in the life of the minor.
INSURANCE
CHAPTER 18
THE INSURANCE CONTRACT
41-1807. POWER TO CONTRACT -- PURCHASE OF INSURANCE BY MINORS. (1) Any
person of competent legal capacity may contract for insurance.
(2) Any minor not less than fifteen (15) years of age, notwithstanding
his minority, may contract for annuities or for insurance upon his own
life, body, health, property, liabilities or other interests, or on the
person of another in whom the minor has an insurable interest. Such a minor
shall, notwithstanding such minority, be deemed competent to exercise all
rights and powers with respect to or under (a) any contract for annuity or
for insurance upon his own life, body or health, or (
any contract suchminor effected upon his own property, liabilities or other interests, or on
the person of another, as might be exercised by a person of full legal age,
and may at any time surrender his interest in any such contracts and give
valid discharge for any benefit accruing or money payable thereunder. Such
a minor shall not, by reason of his minority, be entitled to rescind, avoid
or repudiate the contract, nor to rescind, avoid or repudiate any exercise
of a right or privilege thereunder, except that such a minor not otherwise
emancipated, shall not be bound by any unperformed agreement to pay by
promissory note or otherwise, any premium on any such annuity or insurance
contract.
(3) Any annuity contract or policy of life or disability insurance
procured by or for a minor under subsection (2) above, shall be made
payable either to the minor or his estate or to a person having an
insurable interest in the life of the minor.
If I'm correct, this law says that people fifteen and up can move out and do anything an "adult" can do except for the obvious tobacco, alchohol, and n00die bar stuff, right?
Haha. This is new to me so I'm just trying to decode all the legal mumbo-jumbo in that document.
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Keep what ye c'n git, an' keep what ye ha'e, for that is the wey t' gettin' rich - Old Scottish Commoner Saying - "Mac users are loyal. PC users are stubborn" - The Space Between on converting someone to another OS.
"Every story has an ending." Auron
1700 posts 11.09.2002 20:24 (08:24 PM ASW Time [ET])| Newgrounds.com The Problems of the Future, Today | StupidVideos Your Web-Repository of Stupid Videos
[This message has been edited by The Space Between (edited 01-22-2003).]
;
Not trying to influence you one way or another (disclaimer: I'm an atheist and a humanist), but if you're worrying what kind of child might result, well... sometimes you never know.