Illinois Compiled Statutes 215 ILCS 150/17 – No beneficiary shall have any cause of action against any other …
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Terms Used In Illinois Compiled Statutes 215 ILCS 150/17
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
No beneficiary shall have any cause of action against any other beneficiary arising solely out of the insolvency or inability of the trust fund to meet its obligations. This Section shall not preclude the collection of payments to the trust fund.