Louisiana Revised Statutes 9:1974 – Substitute beneficiary’s interest may be conditional
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Terms Used In Louisiana Revised Statutes 9:1974
- 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
The interest of a substitute beneficiary may be conditioned upon his surviving the principal beneficiary. The trust instrument may provide for one or more alternative substitute beneficiaries if a substitute beneficiary does not survive the principal beneficiary.
Added by Acts 1974, No. 160, §1.