Annuity contract; definition
La. Civ. Code art. 2778
in effect2778. Annuity contract; definition
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, §1, eff. Jan. 1, 2013.
Source: Louisiana State Legislature (legis.la.gov)URL: https://legis.la.gov/legis/Law.aspx?d=109843Fetched: 10/20/2026