La. Civ. Code art. 2778
This is the official text of La. Civ. Code art. 2778, part of Louisiana’s Civil Code — louisiana's civil law tradition codifies persons, property, obligations, and family relations here rather than in a separate statutory code.
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Annuity contract; definition
Official statutory text
An annuity contract is an agreement by which a party delivers a thing to another who binds himself to make periodic payments to a designated recipient. The recipient's right to these payments is called an annuity.
A contract transferring ownership of a thing other than money for a certain or determinable price payable over a term is not an annuity contract.
Acts 2012, No. 258, ยง1, eff. Jan. 1, 2013.
A contract transferring ownership of a thing other than money for a certain or determinable price payable over a term is not an annuity contract.
Acts 2012, No. 258, ยง1, eff. Jan. 1, 2013.
Status: in_force · Read it on the official government site
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