Louisiana Revised Statutes 9:1976 – Treatment upon death of substitute beneficiary whose interest is not conditioned on survival
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Terms Used In Louisiana Revised Statutes 9:1976
- 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
Upon a substitute beneficiary‘s death, his interest, if not conditioned on survival, vests in his heirs or legatees subject to the trust.
Added by Acts 1974, No. 160, §1.