2012 California Codes
PROB - Probate Code
DIVISION 7 - ADMINISTRATION OF ESTATES OF DECEDENTS [7000 - 12591]
PART 5 - ESTATE MANAGEMENT
CHAPTER 4 - Investments and Purchase of Property
(a) Pending distribution of the estate or at the time the court makes an order for final distribution of the estate, on petition of the personal representative or any interested person, the court may, upon good cause shown, order that the personal representative purchase an annuity from an insurer admitted to do business in this state to satisfy a devise of an annuity or other direction in the will for periodic payments to a devisee.
(b) Notice of the hearing on the petition shall be given as provided in Section 1220.
(Enacted by Stats. 1990, Ch. 79.)
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