Illinois Compiled Statutes 215 ILCS 5/246 – Scope of article
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Terms Used In Illinois Compiled Statutes 215 ILCS 5/246
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
This article shall apply to companies that issued the policies or annuity bonds, and to the policies or annuity bonds, referred to in an Act entitled: “An Act to provide for the deposit of reserve and the registration of policies and annuity bonds by life insurance companies of this State,” approved April 18, 1899. Such policies or annuity bonds are referred to in this article as “policies.”