Title 9, Civil Code-Ancillaries

0 chapters · 2,355 sections in this title.

2,355 sectionsFiltered byTitle 9

La. Rev. Stat. § 9:1771 General rule
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§1771. General rule Property susceptible of private ownership, and any interest in such property may be transferred in trust.
La. Rev. Stat. § 9:178 Foreign transactions
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§178. Foreign transactions This Chapter does not apply to property held, due, and owing in a foreign country and arising out of a foreign transaction. Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1997, No. 809, §1, eff. July 10, 1997.
La. Rev. Stat. § 9:1781 Trustee defined
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§1781. Trustee defined A trustee is a person to whom title to the trust property is transferred to be administered by him as a fiduciary.
La. Rev. Stat. § 9:1782 Number of trustees
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§1782. Number of trustees There may be one or more trustees of a trust.
La. Rev. Stat. § 9:1783 Who may be trustee
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§1783. Who may be trustee A. Only the following persons or entities may serve as a trustee of a trust established pursuant to this Code: (1) A natural person enjoying full capacity to contract who is a citizen or resident alien of the United States, who may be the settlor, the be…
La. Rev. Stat. § 9:1784 Jurisdiction over the trustee
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§1784. Jurisdiction over the trustee A trustee who accepts a trust established pursuant to this Code submits to the jurisdiction of the courts of this state. Acts 2001, No. 594, §2.
La. Rev. Stat. § 9:1785 Manner in which trustee chosen
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§1785. Manner in which trustee chosen An original trustee, an alternate trustee, or a successor trustee may be designated in the trust instrument or chosen by the use of a method provided in the trust instrument, but neither failure of the trust instrument to so provide nor disqu…
La. Rev. Stat. § 9:1786 Provisional trustee
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§1786. Provisional trustee The proper court may appoint a provisional trustee if necessary to preserve, safeguard, and administer the trust property. The appointment may be made summarily upon the application of an interested party or upon the court's own motion.
La. Rev. Stat. § 9:1787 Provisional trustee; security
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§1787. Provisional trustee; security A provisional trustee shall furnish the security deemed necessary by the proper court.
La. Rev. Stat. § 9:1788 Resignation of trustee
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§1788. Resignation of trustee A trustee may resign at any time by giving written notice of resignation to each of the beneficiaries or by mailing written notice to each at his last known address. The trust instrument may provide another method of resignation and notice.
La. Rev. Stat. § 9:1789 Removal of trustee
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§1789. Removal of trustee A. A trustee shall be removed in accordance with the provisions of the trust instrument or by the proper court for sufficient cause. B. Additionally, a corporate trustee shall be removed upon the petition of a settlor or any current beneficiary, if the c…
La. Rev. Stat. § 9:179 Applicability of Chapter
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§179. Applicability of Chapter A. An initial report filed under this Chapter for property that was not required to be reported before the effective date of this Chapter but that is subject to this Chapter shall include all items of property that would have been presumed abandoned…
La. Rev. Stat. § 9:1790 Effect of resignation or removal of trustee
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§1790. Effect of resignation or removal of trustee Except as provided in R.S. 9:2069, a trustee who has resigned or who has been removed has no further authority with respect to the trust property. His resignation or removal does not affect his liability for his administration of…
La. Rev. Stat. § 9:1791 Appeal from judgment appointing or removing trustee
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§1791. Appeal from judgment appointing or removing trustee A judgment or an order of court appointing or removing a trustee shall be executed provisionally. An appeal from an order or judgment appointing or removing a trustee must be taken and the security therefor furnished with…
La. Rev. Stat. § 9:180 Rules
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§180. Rules The administrator may adopt necessary rules and regulations in accordance with the Administrative Procedure Act to carry out the provisions of this Chapter. Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1991, No. 342, §1, eff. July 6, 1991; Acts 1997, No. 809, §1, …
La. Rev. Stat. § 9:1801 Beneficiary defined
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§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 beneficia…
La. Rev. Stat. § 9:1802 Sufficiency of designation
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§1802. Sufficiency of designation A beneficiary must be designated in the trust instrument, except as otherwise provided in this Code. The designation is sufficient if the identity of the beneficiary is objectively ascertainable solely from standards stated in the trust instrumen…
La. Rev. Stat. § 9:1803 Requirement that beneficiary be in being and ascertainable
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§1803. Requirement that beneficiary be in being and ascertainable A beneficiary must be in being and ascertainable on the date of the creation of the trust, except as otherwise provided in this Code. An unborn child is deemed a person in being and ascertainable, if he is born ali…
La. Rev. Stat. § 9:1804 Settlor as beneficiary
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§1804. Settlor as beneficiary A settlor may be the sole beneficiary of income or principal or both, or one of several beneficiaries of income or principal or both.
La. Rev. Stat. § 9:1805 One or several beneficiaries; separate beneficiaries
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§1805. One or several beneficiaries; separate beneficiaries There may be one beneficiary or two or more beneficiaries as to income or principal or both. There may be separate beneficiaries of income and principal, or the same person may be a beneficiary of both income and princip…
La. Rev. Stat. § 9:1806 Concurrent beneficiaries
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§1806. Concurrent beneficiaries There may be several concurrent beneficiaries of income or principal or both.
La. Rev. Stat. § 9:1807 Successive income beneficiaries
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§1807. Successive income beneficiaries Several beneficiaries may be designated to enjoy income successively.
La. Rev. Stat. § 9:1808 Acceptance by beneficiary
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§1808. Acceptance by beneficiary A beneficiary need not accept the benefit conferred on him; his acceptance is presumed.
La. Rev. Stat. § 9:1809 Representation upon predecease of named principal beneficiary
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§1809. Representation upon predecease of named principal beneficiary When a testamentary trust designates as principal beneficiary a person who is a descendant, a sibling, or a descendant of a sibling of the settlor, and that person does not survive the settlor, the descendants b…
La. Rev. Stat. § 9:181 Severability
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§181. Severability If any provision of this Chapter or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or the application of this Chapter that can be given effect without the invalid provision or application, …
La. Rev. Stat. § 9:182 United States savings bonds; escheatment procedures
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§182. United States savings bonds; escheatment procedures A. Notwithstanding any contrary provisions of law, United States savings bonds which are unclaimed property and subject to the provisions of this Chapter, shall escheat to the state three years after becoming unclaimed pro…
La. Rev. Stat. § 9:1821 When testamentary trust created
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§1821. When testamentary trust created A testamentary trust is created at the moment of the settlor's death. Acts 2015, No. 219, §1.
La. Rev. Stat. § 9:1822 When inter vivos trust created
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§1822. When inter vivos trust created An inter vivos trust is created upon execution of the trust instrument. Acts 2015, No. 219, §1.
La. Rev. Stat. § 9:1823 Retroactive nature of trustee's acceptance
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§1823. Retroactive nature of trustee's acceptance A trustee's acceptance is retroactive to the date of creation of the trust.
La. Rev. Stat. § 9:1824 Consequence of trustee's failure to accept
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§1824. Consequence of trustee's failure to accept If the trustee was not a party to the trust instrument, he must accept the trust in writing within a reasonable time after its creation, or the proper court shall appoint a trustee.
La. Rev. Stat. § 9:1831 Limitations upon stipulated term
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§1831. Limitations upon stipulated term If the trust instrument stipulates a term and unless an earlier termination is required by the trust instrument, or by the proper court, a trust shall terminate at: (1) The death of the last surviving income beneficiary or the expiration of…
La. Rev. Stat. § 9:1832 Effect of stipulation of excessive term
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§1832. Effect of stipulation of excessive term A trust instrument that stipulates a longer term than is permitted shall be enforced as though the maximum allowable term had been stipulated.
La. Rev. Stat. § 9:1833 Term in absence of stipulation
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§1833. Term in absence of stipulation If the trust instrument stipulates no term, the trust shall terminate: (1) Upon the death of the last income beneficiary who is a natural person; or (2) At the end of the term prescribed by R.S. 9:1831(3) or 9:1831(4), if the income beneficia…
La. Rev. Stat. § 9:1834 Exceptions
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§1834. Exceptions The provisions of this Sub-part shall not apply to class trusts, to trusts by employers for the benefit of employees, or to charitable dispositions contained in trusts for mixed private and charitable purposes.
La. Rev. Stat. § 9:1835 Definitions
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§1835. Definitions For the purpose of this Sub-part, the term "surviving income beneficiary" means a natural person designated in the trust instrument to enjoy a portion of trust income, whether presently or in the future, or even conditionally; a principal beneficiary who is des…
La. Rev. Stat. § 9:1841 General rule
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§1841. General rule The legitime or any portion thereof may be placed in trust provided: (1) The trustee after taking into account all of the other income and support to be received by the forced heir during the year shall distribute to the forced heir, or to the legal guardian o…
La. Rev. Stat. § 9:1842 Effect of improper stipulation
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§1842. Effect of improper stipulation A provision of a trust instrument that is incompatible with the provisions of this Sub-part shall be reformed to comply herewith.
La. Rev. Stat. § 9:1843 Stipulation restraining alienation
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§1843. Stipulation restraining alienation A trust instrument may place restraints upon the alienation of the legitime in trust.
La. Rev. Stat. § 9:1844 Legitime burdened with income interest or usufruct
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§1844. Legitime burdened with income interest or usufruct The legitime in trust may be burdened with an income interest or with a usufruct in favor of a surviving spouse to the same extent and for the same term that a usufruct of the same property could be stipulated in favor of …
La. Rev. Stat. § 9:1845 Repealed by Acts 1979, No
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§1845. Repealed by Acts 1979, No. 160, §2
La. Rev. Stat. § 9:1846 Repealed by Acts 1979, No
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§1846. Repealed by Acts 1979, No. 160, §3
La. Rev. Stat. § 9:1847 Invasion of principal; legitime affected
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§1847. Invasion of principal; legitime affected A trustee may not pay principal to an income beneficiary if the payment would deprive another beneficiary of all or a part of his legitime, notwithstanding any contrary provision of the trust instrument.
La. Rev. Stat. § 9:1851 General rule
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§1851. General rule The marital portion provided under Article 2432 of the Louisiana Civil Code, whether in full property or usufruct only, or any portion thereof, may be placed in trust, if: (1) The net income accruing to the surviving spouse therefrom is payable to the survivin…
La. Rev. Stat. § 9:1852 Marital portion in full property
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§1852. Marital portion in full property An unconditional principal and income interest in trust, with income payable not less than annually for the life of the beneficiary, satisfies the marital portion to the same extent as would the full ownership not in trust of the same prope…
La. Rev. Stat. § 9:1853 Marital portion in usufruct
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§1853. Marital portion in usufruct A usufruct in trust, or an unconditional income interest in trust, without an interest in principal, payable not less than annually for a term or for the life of the beneficiary satisfies the marital portion to the same extent as would a usufruc…
La. Rev. Stat. § 9:1854 Effect of improper stipulation
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§1854. Effect of improper stipulation A provision of a trust instrument that is incompatible with the provisions of this Subpart shall be reformed to comply herewith. Added by Acts 1977, No. 67, §1.
La. Rev. Stat. § 9:1881 General rule
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§1881. General rule A settlor may create an inter vivos or a testamentary trust upon the proceeds of life insurance. If a policy of life insurance is payable to a named beneficiary of the policy as trustee, the trust is an inter vivos trust and the instrument creating the trust s…
La. Rev. Stat. § 9:1891 Creation of class
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§1891. Creation of class A. Notwithstanding the provisions of R.S. 9:1803, R.S. 9:1831 through 1835, and R.S. 9:1841 through 1847, but subject to the restrictions stated in this Subpart, a person may create an inter vivos or testamentary trust in favor of a class consisting of so…
La. Rev. Stat. § 9:1892 Class members
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§1892. Class members A class may include those of the relationship whether by blood or adoption. Acts 1985, No. 582, §1.
La. Rev. Stat. § 9:1893 Income and principal designations
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§1893. Income and principal designations A class trust may be created with respect to all of or a portion of income or principal, or both, but the members of the class must always be the sole beneficiaries of the portion of the trust of which they are beneficiaries. Subject to R.…