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2019 Louisiana Laws
Revised Statutes
Title 9 - Civil Code-Ancillaries
§1801. Beneficiary defined
Universal Citation:
LA Rev Stat § 9:1801 (2019)
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RS 1801 - Beneficiary defined
A beneficiary is a person for whose benefit the trust is created and may be a natural person, corporation, partnership, or other legal entity having the capacity to receive property. A trustee of a trust, in his capacity of trustee, can be the beneficiary of another trust. Neither the heir, legatee, or assignee of a designated beneficiary, nor a beneficiary by reason of a substitution under Subpart B of Part III of this Chapter, is considered a beneficiary for the purpose of fixing the maximum allowable term of the trust.
Acts 1989, No. 110, §1; Acts 1995, No. 414, §1.
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