72-33-207. Designation of trust or trustee as beneficiary.
72-33-207. Designation of trust or trustee as beneficiary. (1) A trust or trustee may be designated as the beneficiary of the proceeds of an insurance contract, an annuity contract, an employee benefit plan, an individual retirement account, or similar device if the designation is made in accordance with the contract, plan, account, or device.
(2) Subsection (1) applies even though the trust or trustee is named or to be named by will or trust and whether or not the will or trust is in existence at the time of the designation.
History: En. Sec. 15, Ch. 685, L. 1989.