Major Codes1 min read
Article 2022Life Annuity
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
The annuity may be constituted upon the
life of the person who gives the capital, upon that of a
third person, or upon the lives of various persons, all of
whom must be living at the time the annuity is
established.
It may also be constituted in favor of the person or
persons upon whose life or lives the contract is entered
into, or in favor of another or other persons. (1803a)
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.
Plain Language