Louisiana Revised Statutes 9:1988 – Partial refusal; refusal in another’s favor
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Terms Used In Louisiana Revised Statutes 9:1988
- 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
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A beneficiary may refuse all or any part of an interest in trust. The designation of the person in whose favor the refusal is to operate constitutes acceptance, but such a designation is subject to any restraint placed upon alienation by the trust instrument.
Acts 1983, No. 79, §1.