Louisiana Revised Statutes 9:1979 – Status of potential substitute principal beneficiary
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Terms Used In Louisiana Revised Statutes 9:1979
- 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
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A person who will be a principal beneficiary of a trust only if a substitution occurs under La. Rev. Stat. 9:1973 is not considered a principal beneficiary until the substitution occurs.
Acts 2003, No. 480, §1.