KRS 304.14-260: Payment discharges insurer.

Whenever the proceeds of or payments under a life or health insurance policy or annuity

contract heretofore or hereafter issued become payable in accordance with the terms of

such policy or contract, or the exercise of any right or privilege thereunder, an d the

insurer makes payment thereof in accordance therewith or in accordance with any written

assignment thereof, the person then designated as being entitled thereto shall be entitled

to receive such proceeds or payments and to give full acquittance there for, and such

payments shall fully discharge the insurer from all claims under the policy or contract

unless, before payment is made, the insurer has received at its principal office written

notice by or on behalf of some other person that such other person claims to be entitled to

such payment or some interest in the policy or contract.