Louisiana Revised Statutes 9:1977 – Class as substitute beneficiary
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Terms Used In Louisiana Revised Statutes 9:1977
- 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
If the substitute beneficiary is a class, the interest of a deceased member of the class is determined by the rules governing class trusts.
Added by Acts 1974, No. 160, §1.