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La. R.S. 9:2144

Income and principal distinguished

Acts 2020, No. 17, §1, eff

Receipts paid or delivered in return for the use of property forming a part of principal are income, unless this Subpart expressly provides to the contrary.

Receipts paid or delivered in consideration for the sale or other transfer of property forming a part of principal or as the replacement of property forming a part of principal are principal unless this Subpart expressly provides to the contrary.

Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.