2006 Louisiana Laws - RS 9:1893 — Income and principal designations
§1893. Income and principal designations
A class trust may be created with respect to income or principal, or both, but the members of the class must always be the sole beneficiaries of the interest affected, whether income, principal, or both. Subject to R.S. 9:2068, the trustee may invade principal for the benefit of one or more individual income beneficiaries or one or more members of any class of income beneficiaries, even though such income beneficiary may not be a member of the class of principal beneficiaries.
Amended by Acts 1968, No. 133, §1; Acts 1974, No. 127, §1; Acts 2003, No. 480, §1.
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