Person(s) or entity to whom payments are made under this contract. If two or more Payees are designated and their respective interests are not specified: their interests will be several and equal and; in the event of the death of a Payee, any payments due shall be divided equally among the surviving Payees. Multiple Payees may not be designated if the designation would result in any Payee receiving less than $1,000 per payment.
A person who receives and disburses the ward's social security income or SSI outside of the jurisdiction of the Court. These funds are monitored by the Social Security Administration. A person may also serve as payee for Veteran's and Railroad Retirement benefits.
(1) The person or party who is to receive insurance policy proceeds in accordance with the terms of a settlement agreement. See also settlement agreement. (2) The person, usually the annuitant, who receives periodic annuity benefit payments according to the terms of an annuity contract. See also annuitant.
The person to whom payment is addressed or given. In family law, the term usually refers to the person who receives or to whom support or maintenance is owed. In commercial law, the term refers to the person to whom a bill of exchange is made payable. On a regular check, the space after the words "pay to the order of" identifies the payee.
(1) The person or party who is to receive the proceeds of a life insurance policy in accordance with the terms of a settlement agreement. (2) The person who receives the periodic benefit payments during an annuity's payout period.
The receiver of payments made on behalf of recipients of the Medicaid program and services provided by enrolled Medicaid providers. Payor Local government entities that have entered into an agreement with HFS to pay for medical services on behalf of Medicaid recipients. This may include, but is not limited to mental health (708) boards, counties, municipalities, and other government payors.