Louisiana Revised Statutes 11:1003 – Exemption from taxation, levy, or execution
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Terms Used In Louisiana Revised Statutes 11:1003
- 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.
- Annuity: means payments for life derived from the accumulated contributions of a member. See Louisiana Revised Statutes 11:1002
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1002
- Retirement allowance: means the sum of annuity and the pensions or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:1002
The right of a person to a pension, an annuity, or a retirement allowance, to the return of contributions, the pension, annuity, or retirement allowance itself, any optional benefit or any other right accrued or accruing to any person under the provisions of this Chapter, and the moneys in the various funds created by this Chapter are exempt from any state or municipal tax and exempt from levy and sale, garnishment, attachment, or any other process whatsoever, except as provided in La. Rev. Stat. 11:292, and shall be unassignable except as otherwise specifically provided in this Chapter.
Acts 1986, No. 767, §3; Redesignated from La. Rev. Stat. 17:883 by Acts 1991, No. 74, §3, eff. June 25, 1991.