Louisiana Revised Statutes > Title 17 > Chapter 2 > Part XIII – Purchase of Annuities by School Boards
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Other versions
| § 17:1315 | Purchase of annuities by school boards for teachers and other school employees; income taxation thereof |
Terms Used In Louisiana Revised Statutes > Title 17 > Chapter 2 > Part XIII - Purchase of Annuities by School Boards
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Statute: A law passed by a legislature.