Terms Used In Louisiana Revised Statutes 9:1987

  • 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
  • Trustee: A person or institution holding and administering property in trust.

A refusal is not effective as to a trustee until a copy of the act of refusal has been received by him.  Acts performed by a trustee before a beneficiary‘s refusal becomes effective as to the trustee are not affected by the refusal.