Louisiana Revised Statutes 9:1952 – Invasion of principal in mixed trusts
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Terms Used In Louisiana Revised Statutes 9:1952
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Invasion of principal in unitrusts and annuity trusts, as defined in the United States Internal Revenue Code, shall be regulated by principles set forth in that Code, unless the trust instrument provides otherwise.
Added by Acts 1972, No. 660, §1.