Terms Used In Louisiana Revised Statutes 9:2005
- 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
- Conviction: A judgement of guilt against a criminal defendant.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
- Trustee: A person or institution holding and administering property in trust.
Notwithstanding any stipulation in the trust instrument to the contrary, the proper court, in summary proceedings to which the trustee, the beneficiary, and the beneficiary’s creditor shall be parties, may permit seizure of any portion of the beneficiary’s interest in trust income and principal in its discretion and as may be just under the circumstances if the claim is based upon a judgment for:
(1) Alimony, or maintenance of a person whom the beneficiary is obligated to support;
(2) Necessary services rendered or necessary supplies furnished to the beneficiary or to a person whom the beneficiary is obligated to support; or
(3) Damages arising from a felony criminal offense committed by the beneficiary which results in a conviction or a plea of guilty.
Acts 2004, No. 521, §2; Acts 2010, No. 457, §1.