2006 Louisiana Laws - RS 9:2294 — Trusts already created; dissolution or liquidation; summary proceedings to recover funds; retrospective operation

§2294.  Trusts already created; dissolution or liquidation; summary proceedings to recover funds; retrospective operation

This Part shall apply to trusts already created, and in cases of funds contributed or subscribed for a trust to be administered in charitable, benevolent, and fraternal work, according to the usages, customs, or tenets of any authorized and established fraternal, benevolent, or charitable order or institution in this state, and a special corporation has been organized to administer the trust, and which has voluntarily dissolved or liquidated, and the assets of such trust abolished or destroyed, without the express sanction of such order or institution which is capable of executing and administering the trust, whether such funds are distributed by order of court or judicial liquidator or not, the fraternal order, benevolent or charitable institution or its proper officers may proceed summarily against the persons or corporations, receiving the funds, and recover them by judgment of court, to be used and administered by such order or institution in this state for the purpose for which the same was originally declared and intended, provided, it has not been more than ten years since the distribution of such assets or funds before suit to recover is filed and citation served on the defendants.  This Part shall operate retrospectively as to trusts which have been altered within the last six years, and where no final account has been filed, and approved by judgment of court one year prior to the filing the suit.