§ 154-361. Authorized beneficiaries.

The authorized beneficiary of a participant in this plan shall be the surviving spouse of such participant. In the event there is no surviving spouse, then the authorized beneficiary shall be the child or children of such participant under the age of 18 years. Benefits shall be payable equally to all children of such participant under the age of 18 years. Benefits shall be payable to a surviving spouse during the term of his or her natural life, so long as he or she shall remain unmarried. After the death of a surviving spouse, benefits shall be payable to children under the age of 18 years, until such time as the youngest surviving child shall reach the age of 18 years.

(Code 1983, § 24-3-71)