Indiana Code 27-2-23-4. “Annuity”
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Sec. 4. (a) As used in this chapter, “annuity” refers to an annuity contract issued in Indiana after June 30, 2015.
(b) The term does not include an annuity contract used to fund an employment based retirement plan, the sponsor or administrator of which directs the insurer that issues the annuity contract.
As added by P.L.90-2014, SEC.1. Amended by P.L.166-2015, SEC.2.
Terms Used In Indiana Code 27-2-23-4
- annuity: refers to an annuity contract issued in Indiana after June 30, 2015. See Indiana Code 27-2-23-4
- 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.
- Contract: A legal written agreement that becomes binding when signed.