Pennsylvania § 7208 - Life insurance.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 7208 — Life insurance., with citation guidance and answers to common questions.
§ 7208. Life insurance.
A trustee may acquire or retain a contract of life insurance upon the life of the settlor or the settlor's spouse, or both, without liability for a loss arising from the trustee's failure to:
(1) determine whether the contract is or remains a proper investment;
(2) investigate the financial strength of the life insurance company;
(3) exercise nonforfeiture provisions available under the contract; or
(4) diversify the contract.
Special Provisions in Appendix. See section 6(b) of Act 28 of 1999 in the appendix to this title for special provisions relating to applicability.
Frequently Asked Questions About Pennsylvania § 7208
What does Pennsylvania Consolidated Statutes § 7208 cover?
Section 7208 ("Life insurance.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. 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 Pennsylvania § 7208?
A common citation format is "Pennsylvania Consolidated Statutes § 7208" (Pennsylvania). 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 Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 7208 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania 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 Pennsylvania.