§ 215 ILCS 5/245.21 Establishment of separate accounts by domestic companies organized to …
§ 215 ILCS 5/245.22 Any contract providing benefits payable in variable amounts delivered …
§ 215 ILCS 5/245.23 No company may deliver or issue for delivery within this State …
§ 215 ILCS 5/245.24 Notwithstanding any other provision of law, the Director has sole …
§ 215 ILCS 5/245.25 Except for subparagraphs (1)(a), (1)(f), (1)(g) and (3) of Section …
§ 215 ILCS 5/245.60 Whenever the Director finds that there has been a violation of this …

Terms Used In Illinois Compiled Statutes > 215 ILCS 5 > Article XIV 1/2 - Separate Accounts

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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
  • Trustee: A person or institution holding and administering property in trust.