Art. 2778. 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.
Annuity contract; definition
La. Civ. Code art. 2778
La. Civ. Code art. 2778