Louisiana Revised Statutes 9:1833 – Term in absence of stipulation
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Terms Used In Louisiana Revised Statutes 9:1833
- 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
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 La. Rev. Stat. 9:1831(3) or 9:1831(4), if the income beneficiaries do not include a natural person.