Louisiana Revised Statutes 11:1563 – Deficiencies
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Terms Used In Louisiana Revised Statutes 11:1563
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fund: means the Clerks' of Court Retirement and Relief Fund. See Louisiana Revised Statutes 11:1503
If at any time the monies of the fund are insufficient to pay each retiree and beneficiary the full amount to which he is entitled, equal percentages of the full amount shall be paid to each retiree and beneficiary until the fund is replenished so as to warrant resumption of the payment of the full amount to each retiree and beneficiary.
Acts 1986, No. 1063, §1, eff. Oct. 1, 1986; Redesignated from La. Rev. Stat. 13:960.2 by Acts 1991, No. 74, §3, eff. June 25, 1991.