Existence of recipient

La. Civ. Code art. 2786

La. Civ. Code art. 2786

Art. 2786. Existence of recipient When an annuity is established in favor of a natural person, that person must exist or be in utero at the time of the formation of the annuity contract. When an annuity is established in favor of a juridical person, that person must likewise exist at the time of the formation of the annuity contract. Acts 2012, No. 258, §1, eff. Jan. 1, 2013.