2372. A life annuity may be set up for the lifetime of the person who constitutes it or receives it or for the lifetime of a third person who has no entitlement whatever to enjoyment of the annuity.
It may be stipulated, however, that the payment of the annuity will continue beyond the death of the person upon whose life the duration of payment of the annuity was determined, for the benefit, as the case may be, of a determinate person or of the heirs of the annuitant.
1991, c. 64, a. 2372; I.N. 2015-11-01.