(1) If a member of an association dies; and six (6) months or more after his death
the association has in its possession moneys not in excess of two hundred dollars
($200) which would have been distributable and payable to such member except for his
death; and no administrator or executor has been appointed for his estate or the
estate has been closed; then such an association, without making any publication
of notice, may disburse such moneys in the following order:
(a) To the surviving spouse of the deceased member; if none, then
(b) To pay any unsatisfied claims for funeral expenses or reimbursement to any person
for the payment thereof, then
(c) To any adult person of the class of those nearest of kin to the deceased, for
the benefit of all members of such class.
(2) In making such disbursements an association is responsible and liable only for
the exercise of good faith and reasonable care and shall have no further responsibility
or liability with respect to such moneys or their application or disbursement.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.