Sec. 2-111. Annuity.
57 words·~1 min read·
/il/chapter-40/act-5/2-111A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 2-111. Annuity. "Annuity": A series of monthly payments payable at the end of each calendar month during the life of an annuitant. The first payment shall be prorated for a fraction of a month to the end of the first month. The last payment shall be made for the whole calendar month in which death occurs.