19-21-211. Payment of benefits. A retirement, death, or other benefit may not be paid by the state or the board of regents under the optional retirement program. Benefits are payable to a participant and the participant's beneficiaries only by the designated company or companies in accordance with the terms of the contracts.

     History: En. Sec. 7, Ch. 494, L. 1987; amd. Sec. 262, Ch. 56, L. 2009.