576.123 REAPPEARANCE OF ABSENTEE.
Subdivision 1. Insurance payments; reduction.
If an absentee is declared dead after
advance insurance payments have been made pursuant to section
, the amount payable
under the policy shall be reduced by the total amount of payments made under section
Subd. 2. Reimbursement of insurer.
If an absentee is found to be living after advance
insurance payments have been made to a beneficiary pursuant to section
, the absentee
and beneficiary shall reimburse the insurer the amount of the payments made.
If the insurer is unable to obtain full reimbursement, the amount payable under the policy
shall be reduced to the extent necessary to allow full reimbursement. Failure of the absentee and
beneficiary to reimburse the insurer upon demand for payment sent by the insurer by certified
mail to the last known address of the absentee and beneficiary shall be sufficient to show the
insurer's inability to obtain reimbursement.
History: 1979 c 54 s 3