Louisiana Revised Statutes 11:1583 – Exemption from taxes and execution
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Terms Used In Louisiana Revised Statutes 11:1583
- Annuity: shall mean payments for life derived from the "accumulated contributions" of a member. See Louisiana Revised Statutes 11:1581
- 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.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1581
- Retirement allowance: shall mean the sum of the "annuity" and the "employers' annuity" or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:1581
The right of a person to a pension, an annuity, or a retirement allowance, to the return of contributions, the pension, annuity, or retirement allowance itself, any optional benefit or any other right accrued or accruing to any person under the provisions of this Chapter, and the moneys in the various funds created by this Chapter are hereby exempt from any state or municipal tax and exempt from levy and sale, garnishment, attachment, or any other process whatsoever, except as provided in La. Rev. Stat. 11:292, and shall be unassignable except as in this Chapter specifically otherwise provided.
Added by Acts 1956, No. 56, §9; Acts 1986, No. 767, §2; Redesignated from La. Rev. Stat. 16:1003 by Acts 1991, No. 74, §3, eff. June 25, 1991.