Section 47A Investment of funds; life insurance; endowment or annuity contracts - Massachusetts Statutes

[Text of section effective until July 1, 2009. Repealed by 2008, 521, Sec. 21. See 2008, 521, Sec. 44.]

Section 47A. The probate court, upon the application of a guardian, may authorize him to invest income or principal of the estate of his ward in policies of life or endowment insurance or annuity contracts, issued by a life insurance company duly authorized to transact business in the commonwealth under chapter one hundred and seventy-five, on the life of the ward or on the life of a person in whose life the ward has an insurable interest.