There is a newer version
of
this Section
2017 Pennsylvania Consolidated Statutes
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 72 - Prudent Investor Rule
Section 7208 - Life insurance
Universal Citation: 20 PA Cons Stat § 7208 (2017)
§ 7208. Life insurance.
A trustee may acquire or retain a contract of life insurance upon the life of the settlor or the settlor's spouse, or both, without liability for a loss arising from the trustee's failure to:
(1) determine whether the contract is or remains a proper investment;
(2) investigate the financial strength of the life insurance company;
(3) exercise nonforfeiture provisions available under the contract; or
(4) diversify the contract.
Special Provisions in Appendix. See section 6(b) of Act 28 of 1999 in the appendix to this title for special provisions relating to applicability.
Disclaimer: These codes may not be the most recent version. Pennsylvania may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
