Louisiana Revised Statutes 9:2124 – Holding stock in name of nominee
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Terms Used In Louisiana Revised Statutes 9:2124
- Trustee: A person or institution holding and administering property in trust.
A trustee owning stock may hold it in the name of a nominee, without mention of the trust in the stock certificate or stock registration book, provided that the trust records and all reports or accounts rendered by a trustee clearly show the ownership of the stock and the facts regarding its holding. A trustee shall be personally liable for any loss to the trust resulting from any act of the nominee in connection with stock so held.