PRINTER'S NO. 2085
No. 1681 Session of 1971
INTRODUCED BY MESSRS. MELTON AND BARBER, NOVEMBER 11, 1971
REFERRED TO COMMITTEE ON JUDICIARY, NOVEMBER 29, 1971
AN ACT
1 Amending the act of April 4, 1929 (P.L.149), entitled "An act
2 authorizing guardians of minors to expend parts of the income
3 of said minors in life insurance policies, with leave of the
4 orphans' court, and stipulating the rights of such minors in
5 regard thereto upon becoming of age," reducing certain age
6 requirements.
7 The General Assembly of the Commonwealth of Pennsylvania
8 hereby enacts as follows:
9 Section 1. Section 1, act of April 4, 1929 (P.L.149),
10 entitled "An act authorizing guardians of minors to expend parts
11 of the income of said minors in life insurance policies, with
12 leave of the orphans' court, and stipulating the rights of such
13 minors in regard thereto upon becoming of age," is amended to
14 read:
15 Section 1. Be it enacted, &c., That any guardian of the
16 estate of a minor, having sufficient income, may, upon petition
17 to the orphans court of the proper county and allowance of said
18 court, invest a portion of the income of such minor in contracts
19 of life insurance, for the benefit of such persons or person, or
20 the estate of such minor, as the court may direct. The court
1 may, at any time, upon the petition of the guardian, direct that
2 the beneficiary in such policy be changed; and the minor, upon
3 reaching the age of [twenty-one] eighteen years, shall have the
4 right to change any such beneficiary in the same manner as any
5 other person having a policy of life insurance.
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