Louisiana Revised Statutes 9:2091 – Control and preservation of trust property
Current as of: 2023 | Check for updates
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Terms Used In Louisiana Revised Statutes 9:2091
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
A trustee is under a duty to a beneficiary to take reasonable steps to take, keep control of, and preserve the trust property.