Massachusetts General Laws ch. 190B sec. 2-610 – Annuities
Current as of: 2024 | Check for updates
|
Other versions
Section 2–610. [Annuities.]
Terms Used In Massachusetts General Laws ch. 190B sec. 2-610
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(a) If an annuity, or the use, rent, income or interest of property, real or personal, is given by will or by trust instrument for the benefit of a person for life or until the happening of a contingency, such person shall be entitled to receive and enjoy the same from and after the death of the deceased, unless it is otherwise provided in such will or trust instrument.
[There is no subsection (b).]