Louisiana Revised Statutes 9:2012 – Provisional principal beneficiaries
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 9:2012
- 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
Until the time when the principal beneficiaries are determined, the persons who would be the principal beneficiaries had that time arrived shall be known as the provisional principal beneficiaries. Provisional principal beneficiaries shall be income beneficiaries in the absence of an effectively designated income beneficiary. A provisional principal beneficiary who is not an income beneficiary is not considered a beneficiary for any purposes under this Code.
Acts 1988, No. 589, §1.