Illinois § 60c
Full text of Illinois Illinois Compiled Statutes § 60c, with citation guidance and answers to common questions.
§ 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.)
Frequently Asked Questions About Illinois § 60c
What does Illinois Compiled Statutes § 60c cover?
Section 60c is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 60c?
A common citation format is "Illinois Compiled Statutes § 60c" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 60c apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.