Louisiana Revised Statutes 9:2062 – Limitation of duties by settlor
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Terms Used In Louisiana Revised Statutes 9:2062
- 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 provision of the trust instrument that purports to limit a trustee‘s duty of loyalty to the beneficiary is ineffective, except to the extent permitted by this Part.