Babiarz v Stearns

2016 IL App (1st) 150988 (Ill. App., 2016)

Words & Phrases

Agent Broker: Statute Of Limitations

Trial Judge

Patrick J. Sherlock

Appellate Judge

Cobbs

Holding

Fixed income annuities are insurance products, and their sale by insurance producer was subject to two-year limitations period under 735 ILCS 5/13-214.4.

Fact Summary

Limitations period begins when the annuities were sold.

Producer, agent of annuity company, did not owe fiduciary duty to purchaser.

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