(a) An annuity commences at the testator’s death and shall be paid at the end of the annual, monthly, or other specified period.
(b) If an annuity is not paid at the end of the specified period, it bears interest thereafter, but no interest accrues during the first year after the testator’s death.
(Enacted by Stats. 1990, Ch. 79.)
Last modified: October 25, 2018