Illinois Code § 60c
Illinois Code § 60c. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 60c.
Requirements and contents of trust agreement. Trust agreements governing Trusteed Assets required by Section 60b shall satisfy the following conditions: (1) Legal title to the Trusteed Assets shall be vested in the trustee or trustees, and their successors lawfully appointed, in trust for the benefit and security of policyholders of the alien company in the United States. (2) The agreement shall provide for substitution of a new trustee or trustees, subject to the Director's approval. (3) All Trusteed Assets shall at all times be maintained as a trust fund separate and distinct from all other assets. (4) The trustee or trustees shall maintain a record at all times sufficient to identify the assets of the trust. (5) Withdrawal of or from the Trusteed Assets shall be made only as provided in Section 60d. (Source: P.A. 85-1373.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 60c
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Illinois attorney.
Common questions
What is the source of Illinois Compiled Statutes § 60c?
The text above is transcribed from the Illinois Compiled Statutes, the codified statutes of Illinois. The official publisher link appears under "Verify the text" on this page.
What subject does Illinois Compiled Statutes § 60c address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Illinois Compiled Statutes § 60c still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.
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