Louisiana Revised Statutes 11:1403 – Exemption from seizure for debt, taxation
Terms Used In Louisiana Revised Statutes 11:1403
- 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.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Dependent: A person dependent for support upon another.
- Fund: means the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
- 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
- Surviving spouse: means a person who is legally married to a member of the system and living with the member at the time of his death. See Louisiana Revised Statutes 11:1402
The right of a person to a pension, an annuity, retirement allowance, disability benefit, surviving spouse benefits, dependent child’s benefit, or to a return of contributions, the pension, annuity, retirement allowance, disability benefit, surviving spouse benefit, dependent child’s benefit itself, any optional benefit or any right accrued or accruing to any person under the provisions of the Assessors’ Retirement Fund, and the monies in said fund are hereby exempt from any state or municipal tax, from all state income tax, and from levy and sale, garnishment, attachment, or any other process whatsoever, except as provided in La. Rev. Stat. 11:292.
Acts 1989, No. 545, §1, eff. July 5, 1989; Redesignated from La. Rev. Stat. 47:8053 by Acts 1991, No. 74, §3, eff. June 25, 1991.