Louisiana Civil Code 2783 – Assignable and heritable rights and obligations
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Terms Used In Louisiana Civil Code 2783
- 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.
In the absence of a contrary provision of law or juridical act, the rights and obligations of the parties under an annuity contract are assignable and heritable.
Acts 2012, No. 258, §1, eff. Jan. 1, 2013.