§ 21-2.11 — Life, endowment, or annuity policies

Illinois § 21-2.11

• Jurisdiction: Illinois
• Topic: RIGHTS AND REMEDIES
• Ch. 755: ESTATES
• Act 755 ILCS 5/: Probate Act of 1975.
• Art.: Article XXI - Investments by Representative

Text

Life, endowment, or annuity policies on the life of the ward, or on the life of any person in whose life the ward has an insurable interest, if the ward is the beneficiary, when the policies are issued by companies, associations or fraternal organizations that, at the time of investment, have been given one of the top 4 rating grades by a nationally recognized rating service. The order may authorize the payment of annual premiums without further application to the court.

Legislative History

(Source: P.A. 90-796, eff. 12-15-98; 91-357, eff. 7-29-99.)