The principal and undistributed income of the trust created pursuant to Section 15 of this Act shall be paid to the seller if:
         (1) the seller certifies by sworn affidavit to the
    
trustee that the purchaser or the beneficiary named in the pre-need contract has deceased and that seller has fully delivered or installed all items included in the pre-need contract and fully performed all pre-need cemetery services he is required to perform under the pre-need contract; or
        (2) the seller certifies by sworn affidavit to the
    
trustee that seller has made full delivery, as defined herein.

Terms Used In Illinois Compiled Statutes 815 ILCS 390/17

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • sworn: shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12
  Previous section
Next section  
 815 ILCS 390 Contents