A fiduciary receiving in kind a contract of life insurance, stock in a building and loan association, or any similar asset providing for periodic payments, may retain it and continue to make the periodic payments and otherwise comply with the provisions thereof without liability for resulting loss so long as he, in the exercise of due care and prudence, shall consider advisable under the circumstances.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 73 - Municipalities Investments
Section 7301 - Definition of fiduciary
Section 7302 - Authorized investments; in general
Section 7303 - Government obligations
Section 7304 - Obligations of Federal organizations
Section 7305 - Obligations of Pennsylvania governmental organizations
Section 7307 - Corporate bonds
Section 7309 - Fractional interests
Section 7310.1 - Further investment authority
Section 7313 - Interest-bearing deposit
Section 7314 - Common trust fund and mortgage investment fund
Section 7315 - Retention of investments
Section 7315.1 - Retention of cash; temporary investments
Section 7316 - Life insurance, building and loan shares, and similar assets
Section 7317 - Investments which become unauthorized