State Codes and Statutes

Statutes > Arizona > Title14 > 14-10908

14-10908. Life insurance on settlor; liability of trustee

A trustee may acquire or retain a contract of life insurance on 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.

4. Diversify the contract.

State Codes and Statutes

Statutes > Arizona > Title14 > 14-10908

14-10908. Life insurance on settlor; liability of trustee

A trustee may acquire or retain a contract of life insurance on 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.

4. Diversify the contract.


State Codes and Statutes

State Codes and Statutes

Statutes > Arizona > Title14 > 14-10908

14-10908. Life insurance on settlor; liability of trustee

A trustee may acquire or retain a contract of life insurance on 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.

4. Diversify the contract.