Kentucky Statutes 391.130 – Descendants may recover annuity not fully earned at annuitant’s death
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Whenever any person entitled to an annuity dies within the year, and before the annuity is fully earned, the heirs or personal representative of that person may recover such proportion of the entire amount of the annuity as the time of the year already elapsed at the date of the death of the annuitant bears to the entire year.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 2070.
Effective: October 1, 1942
Terms Used In Kentucky Statutes 391.130
- 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.
- Year: means calendar year. See Kentucky Statutes 446.010
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 2070.