Chapter

Louisiana Trust Code

La. R.S. 9:1721— LOUISIANA TRUST CODE
La. R.S. 9:1722— Express private trusts authorized; application of Code
La. R.S. 9:1723— Dispositions containing substitutions
La. R.S. 9:1724— Construction of Code
La. R.S. 9:1725— Definitions
La. R.S. 9:1731— Trust defined
La. R.S. 9:1732— Inter vivos and testamentary trusts
La. R.S. 9:1733— Testamentary trust defined
La. R.S. 9:1734— Inter vivos trust defined
La. R.S. 9:1735— Gratuitous and onerous trusts
La. R.S. 9:1736— Conditions
La. R.S. 9:1737— Dispositions permitted
La. R.S. 9:1751— Form of testamentary trust
La. R.S. 9:1752— Form of inter vivos trust
La. R.S. 9:1753— Technical language not required; interpretation of instrument
La. R.S. 9:1754— Incorporation by reference
La. R.S. 9:1755— Acceptance by trustee
La. R.S. 9:1761— Settlor defined
La. R.S. 9:1762— Number of settlors
La. R.S. 9:1763— Who may be settlor of inter vivos trust
La. R.S. 9:1764— Who may be settlor of testamentary trust
La. R.S. 9:1771— General rule
La. R.S. 9:1781— Trustee defined
La. R.S. 9:1782— Number of trustees
La. R.S. 9:1783— Who may be trustee
La. R.S. 9:1784— Jurisdiction over the trustee
La. R.S. 9:1785— Manner in which trustee chosen
La. R.S. 9:1786— Provisional trustee
La. R.S. 9:1787— Provisional trustee; security
La. R.S. 9:1788— Resignation of trustee
La. R.S. 9:1789— Removal of trustee
La. R.S. 9:1790— Effect of resignation or removal of trustee
La. R.S. 9:1791— Appeal from judgment appointing or removing trustee
La. R.S. 9:1801— Beneficiary defined
La. R.S. 9:1802— Sufficiency of designation
La. R.S. 9:1803— Requirement that beneficiary be in being and ascertainable
La. R.S. 9:1804— Settlor as beneficiary
La. R.S. 9:1805— One or several beneficiaries; separate beneficiaries
La. R.S. 9:1806— Concurrent beneficiaries
La. R.S. 9:1807— Successive income beneficiaries
La. R.S. 9:1808— Acceptance by beneficiary
La. R.S. 9:1809— Representation upon predecease of named principal beneficiary
La. R.S. 9:1821— When testamentary trust created
La. R.S. 9:1822— When inter vivos trust created
La. R.S. 9:1823— Retroactive nature of trustee's acceptance
La. R.S. 9:1824— Consequence of trustee's failure to accept
La. R.S. 9:1831— Limitations upon stipulated term
La. R.S. 9:1832— Effect of stipulation of excessive term
La. R.S. 9:1833— Term in absence of stipulation
La. R.S. 9:1834— Exceptions
La. R.S. 9:1835— Definitions
La. R.S. 9:1841— General rule
La. R.S. 9:1842— Effect of improper stipulation
La. R.S. 9:1843— Stipulation restraining alienation
La. R.S. 9:1844— Legitime burdened with income interest or usufruct
La. R.S. 9:1845— Repealed by Acts 1979, No. 160, 2
La. R.S. 9:1846— Repealed by Acts 1979, No. 160, 3
La. R.S. 9:1847— Invasion of principal; legitime affected
La. R.S. 9:1851— General rule
La. R.S. 9:1852— Marital portion in full property
La. R.S. 9:1853— Marital portion in usufruct
La. R.S. 9:1854— Effect of improper stipulation
La. R.S. 9:1881— General rule
La. R.S. 9:1891— Creation of class
La. R.S. 9:1892— Class members
La. R.S. 9:1893— Income and principal designations
La. R.S. 9:1894— Representation
La. R.S. 9:1895— Effect of death of class member during the term of the trust
La. R.S. 9:1896— Closing of the class
La. R.S. 9:1897— Term; general rule
La. R.S. 9:1898— Effect of stipulation of excessive term
La. R.S. 9:1899— Distribution of income; forced heirs
La. R.S. 9:1900— Absence of living members before class closes; treatment of income
La. R.S. 9:1901— Closing of class; members living; effect; termination
La. R.S. 9:1902— Closing of class; continuation of trust
La. R.S. 9:1903— Class not closed; termination of income interests; effect
La. R.S. 9:1904— General rule
La. R.S. 9:1905— Interests in income
La. R.S. 9:1906— Term
La. R.S. 9:1921— General rule
La. R.S. 9:1922— Term of trust
La. R.S. 9:1931— General rule
La. R.S. 9:1932— Form
La. R.S. 9:1933— Rights of person who adds property
La. R.S. 9:1934— Modification, termination, rescission, or revocation of trust to which property added
La. R.S. 9:1935— When addition by donation inter vivos effected
La. R.S. 9:1936— When addition by donation mortis causa effected
La. R.S. 9:1937— Definition of annual exclusion
La. R.S. 9:1951— General rule
La. R.S. 9:1952— Invasion of principal in mixed trusts
La. R.S. 9:1953— Assignment of interest in trust and termination of trust for mixed private and charitable purposes
La. R.S. 9:1955— Power to divide community interests
La. R.S. 9:1961— Nature of the interest
La. R.S. 9:1962— Distribution of income
La. R.S. 9:1963— Permissible stipulations regulating distribution of income
La. R.S. 9:1964— Termination of income interest; undistributed income
La. R.S. 9:1965— Effect of termination of interest
La. R.S. 9:1971— Time of acquisition of interest
La. R.S. 9:1972— Treatment of interest upon death of principal beneficiary
La. R.S. 9:1973— Shifting interest in principal
La. R.S. 9:1974— Substitute beneficiary's interest may be conditional
La. R.S. 9:1975— Requirement that substitute beneficiary be in being and ascertainable
La. R.S. 9:1976— Treatment upon death of substitute beneficiary whose interest is not conditioned on survival
La. R.S. 9:1977— Class as substitute beneficiary
La. R.S. 9:1978— Shifting interest in principal if beneficiary is descendant of settlor
La. R.S. 9:1979— Status of potential substitute principal beneficiary
La. R.S. 9:1981— General Rule
La. R.S. 9:1982— Acceptance of interest in inter vivos trust by creditor; effect
La. R.S. 9:1983— Acceptance of interest in testamentary trust by creditor; effect
La. R.S. 9:1984— Rights of beneficiary who refuses interest in testamentary trust
La. R.S. 9:1985— Manner of refusal; effect of conditions
La. R.S. 9:1986— Retroactive nature of refusal
La. R.S. 9:1987— Effect of refusal upon trustee
La. R.S. 9:1988— Partial refusal; refusal in another's favor
La. R.S. 9:1989— Refusal of addition to trust
La. R.S. 9:1990— Effect of refusal upon interest refused
La. R.S. 9:2001— General rule
La. R.S. 9:2002— Restraint upon alienation
La. R.S. 9:2003— Form
La. R.S. 9:2004— Seizure by creditor; general rule
La. R.S. 9:2005— Seizure by creditor; special claims
La. R.S. 9:2006— Exemption from seizure
La. R.S. 9:2007— Use of words "spendthrift trust"
La. R.S. 9:2011— General rule
La. R.S. 9:2012— Provisional principal beneficiaries
La. R.S. 9:2013— Settlor as default principal beneficiary
La. R.S. 9:2014— Number of settlors allowed
La. R.S. 9:2021— General rule; modification
La. R.S. 9:2022— Effect of reservation of right to revoke
La. R.S. 9:2023— Effect of reservation of unrestricted right to modify
La. R.S. 9:2024— Concurrence of settlors in modification
La. R.S. 9:2025— Delegation of right to terminate or to modify administrative provisions
La. R.S. 9:2026— Termination or modification to prevent impairment of trust purposes; termination of small trust
La. R.S. 9:2027— Accomplishment of purposes becoming impossible or illegal
La. R.S. 9:2028— Concurrence of settlors in termination
La. R.S. 9:2029— Effect of termination
La. R.S. 9:2029.1— Termination of trust; immovable property owned by trust
La. R.S. 9:2030— Combination and division of trusts
La. R.S. 9:2031— Delegation of right to amend
La. R.S. 9:2041— General rule; revocation
La. R.S. 9:2042— Effect of reservation of right to revoke
La. R.S. 9:2043— Revocation or rescission under general law
La. R.S. 9:2044— Concurrence of settlors in revocation; effect
La. R.S. 9:2045— Delegation of right to revoke
La. R.S. 9:2046— Effect of revocation or rescission
La. R.S. 9:2047— Revocation of inter vivos trusts upon divorce
La. R.S. 9:2051— Form
La. R.S. 9:2061— General rule
La. R.S. 9:2062— Limitation of duties by settlor
La. R.S. 9:2063— Relief from duties by beneficiary
La. R.S. 9:2064— Judicial permission or direction to deviate from administrative provisions of trust instrument
La. R.S. 9:2065— Judicial permission to deviate from administrative provisions of this code
La. R.S. 9:2066— Judicial permission or direction to deviate from investment provisions of trust instrument
La. R.S. 9:2067— Invasion of principal; action of court
La. R.S. 9:2068— Invasion of principal; provisions of trust instrument
La. R.S. 9:2069— Winding-up duty and powers of trustee
La. R.S. 9:2081— Breach of trust defined
La. R.S. 9:2082— Administration in interest of beneficiary; duty of impartiality
La. R.S. 9:2083— Dealing on own account
La. R.S. 9:2084— Loan by trustee to himself
La. R.S. 9:2085— Sale by trustee to himself
La. R.S. 9:2086— Self-dealing by corporate trustee
La. R.S. 9:2087— Delegating performance
La. R.S. 9:2088— Accounting
La. R.S. 9:2089— Furnishing of information
La. R.S. 9:2090— Prudent administration
La. R.S. 9:2091— Control and preservation of trust property
La. R.S. 9:2092— Recordation of instruments
La. R.S. 9:2093— Defense of actions
La. R.S. 9:2094— Separation of trust property
La. R.S. 9:2095— Bank deposits
La. R.S. 9:2096— Co-trustees
La. R.S. 9:2097— Serving as officer of legal entity in which trust funds invested
La. R.S. 9:2111— Extent of powers
La. R.S. 9:2112— Attachment of powers to office
La. R.S. 9:2113— Exercise of powers by two trustees
La. R.S. 9:2114— Three or more trustees; exercise of powers
La. R.S. 9:2114.1— Allocation of different powers to different trustees
La. R.S. 9:2115— Control of discretionary powers
La. R.S. 9:2116— Repealed by Acts 2001, No. 520, 5.
La. R.S. 9:2117— Expenses that may be incurred
La. R.S. 9:2118— Lease of trust property
La. R.S. 9:2119— Sale of trust property
La. R.S. 9:2120— Mortgage or pledge; borrowing
La. R.S. 9:2121— Compromise, arbitration, and abandonment of claims
La. R.S. 9:2122— Powers with respect to shares of stock
La. R.S. 9:2123— Stock subscription; incorporator; organizer; partnership; joint venture; limited liability company; other legal entities
La. R.S. 9:2124— Holding stock in name of nominee
La. R.S. 9:2125— Contractual liability of trust
La. R.S. 9:2126— Tort liability of trust
La. R.S. 9:2127— Standard of care in investing and management
La. R.S. 9:2128— Common trust funds
La. R.S. 9:2129— Corporate trustees; deposit of securities in clearing corporation
La. R.S. 9:2130— Transfer of fiduciary accounts
La. R.S. 9:2131— Distributions
La. R.S. 9:2141— General rule
La. R.S. 9:2142— Allocation to beneficiaries of income and principal
La. R.S. 9:2143— Allocation to beneficiaries of usufruct and naked ownership
La. R.S. 9:2144— Income and principal distinguished
La. R.S. 9:2145— When right to income arises
La. R.S. 9:2146— Apportionment of receipts when right to income arises
La. R.S. 9:2147— Apportionment of receipts when right to income ceases
La. R.S. 9:2148— Succession receipts and expenses
La. R.S. 9:2149— Receipts from interests in juridical persons
La. R.S. 9:2150— Obligation to pay money
La. R.S. 9:2151— Sole proprietorship
La. R.S. 9:2151.1— Insurance contracts
La. R.S. 9:2151.2— Deferred compensation, annuities, and similar payments
La. R.S. 9:2152— Proceeds of mineral interests
La. R.S. 9:2153— Timber
La. R.S. 9:2154— Other property subject to depletion
La. R.S. 9:2155— Repealed by Acts 2020, No. 17, §2, eff. Jan. 1, 2021.
La. R.S. 9:2156— Charges
La. R.S. 9:2156.1— Transfers from income to principal for depreciation
La. R.S. 9:2156.2— Income taxes
La. R.S. 9:2157— Repealed by Acts 2020, No. 17, §2, eff. Jan. 1, 2021.
La. R.S. 9:2158— Power to adjust
La. R.S. 9:2159— When the power to adjust is denied
La. R.S. 9:2160— Adjustment benefiting trustee
La. R.S. 9:2161— Adjustment beyond percentage limit
La. R.S. 9:2162— General provisions regarding court orders affecting adjustments
La. R.S. 9:2163— Remedies
La. R.S. 9:2164— Underproductive property
La. R.S. 9:2171— Individual and corporate trustees
La. R.S. 9:2172— Security required by court
La. R.S. 9:2173— Increasing, diminishing, or dispensing with trustee's security by court
La. R.S. 9:2181— General rule
La. R.S. 9:2182— Effect of breach of trust upon compensation
La. R.S. 9:2191— Indemnity for expenses properly incurred
La. R.S. 9:2192— Indemnity for expenses not properly incurred
La. R.S. 9:2193— Liability of beneficiary
La. R.S. 9:2194— Charge on beneficiary's interest
La. R.S. 9:2195— Charge on beneficiary's interest; advance or loan of trust money
La. R.S. 9:2196— Indemnity for tort liability
La. R.S. 9:2201— General rule
La. R.S. 9:2202— Loss not resulting from breach of trust
La. R.S. 9:2203— Balancing losses against gains
La. R.S. 9:2204— Liability of successor trustee
La. R.S. 9:2205— Liability of co-trustee
La. R.S. 9:2206— Relief from liability by trust instrument
La. R.S. 9:2207— Relief from liability by beneficiary
La. R.S. 9:2208— Relief from liability by proper court
La. R.S. 9:2221— Remedies against trustee
La. R.S. 9:2222— Remedies against third persons
La. R.S. 9:2231— Causes of action; procedure
La. R.S. 9:2232— Injunctive relief
La. R.S. 9:2233— Instructions
La. R.S. 9:2234— Prescription
La. R.S. 9:2235— Proper court
La. R.S. 9:2241— General rule
La. R.S. 9:2242— Registered agent for service of process
La. R.S. 9:2251— Severability of provisions of trust instrument
La. R.S. 9:2252— Saving clause
La. R.S. 9:2260.1— Definitions
La. R.S. 9:2260.2— Custodial trust; general
La. R.S. 9:2260.3— Custodial trustee for future payment or transfer
La. R.S. 9:2260.4— Form and effect of receipt and acceptance by custodial trustee; jurisdiction
La. R.S. 9:2260.5— Transfer to custodial trustee by fiduciary or obligor; facility of payment
La. R.S. 9:2260.6— Multiple beneficiaries; separate custodial trusts; survivorship
La. R.S. 9:2260.7— General duties of custodial trustee
La. R.S. 9:2260.8— General powers of custodial trustee
La. R.S. 9:2260.9— Use of custodial trust property
La. R.S. 9:2260.10— Determination of incapacity; effect
La. R.S. 9:2260.11— Exemption of third person from liability
La. R.S. 9:2260.12— Liability to third person
La. R.S. 9:2260.13— Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor custodial trustee
La. R.S. 9:2260.14— Expenses, compensation, and bond of custodial trustee
La. R.S. 9:2260.15— Reporting and accounting by custodial trustee; determination of liability of custodial trustee
La. R.S. 9:2260.16— Limitations of action against custodial trustee
La. R.S. 9:2260.17— Distribution on termination
La. R.S. 9:2260.18— Methods and forms for creating custodial trusts
La. R.S. 9:2260.19— Applicable law
La. R.S. 9:2260.20— Uniformity of application and construction
La. R.S. 9:2260.21— Short title
La. R.S. 9:2262.1— Definitions
La. R.S. 9:2262.2— Recordation of instruments
La. R.S. 9:2262.3— Authority to convey
La. R.S. 9:2262.4— Form
La. R.S. 9:2263— Trust for the care of an animal
La. R.S. 9:2271— Charitable purpose; beneficiary; conditions,
La. R.S. 9:2272— Trustees
La. R.S. 9:2273— Who may be trustee
La. R.S. 9:2274— Application of Louisiana Trust Code
La. R.S. 9:2275— Trust enforcement
La. R.S. 9:2276— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2277— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2278— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2279— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2280— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2281— Definition of terms used in R.S. 9:2282
La. R.S. 9:2282— Method of transfer of control of educational, charitable or religious trusts; grounds
La. R.S. 9:2283— Governing instrument; contents
La. R.S. 9:2290— Perpetual duration
La. R.S. 9:2291— Termination of small trust
La. R.S. 9:2292— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2293— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2294— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2295— Repealed by Acts 2008, No. 637, §2, eff. Jan. 1, 2009.
La. R.S. 9:2321— Title quieted and perfected by lapse of time
La. R.S. 9:2322— Rights in property after perfection of title
La. R.S. 9:2331— Circumstances authorizing application of doctrine; jurisdiction; petitioners
La. R.S. 9:2332— Filing of petition; order; notice; service
La. R.S. 9:2333— Hearing, evidence
La. R.S. 9:2334— Judgment
La. R.S. 9:2335— Immunity of trustee acting pursuant to judgment
La. R.S. 9:2336— Appeal
La. R.S. 9:2337— Application of Part
La. R.S. 9:2337.1— Short title
La. R.S. 9:2337.2— Definitions
La. R.S. 9:2337.3— Standard of conduct in managing and investing institutional fund
La. R.S. 9:2337.4— Appropriation for expenditure or accumulation of endowment fund; rules of construction
La. R.S. 9:2337.5— Delegation of management and investment functions
La. R.S. 9:2337.6— Release or modification of restrictions on management, investment, or purpose
La. R.S. 9:2337.7— Reviewing compliance
La. R.S. 9:2337.8— Application to existing institutional funds
La. R.S. 9:2337.9— Relation to Electronic Signatures in Global and National Commerce Act
La. R.S. 9:2337.10— Uniformity of application and construction
La. R.S. 9:2341— Public trusts authorized; purposes
La. R.S. 9:2342— Mode of creation; acceptance of beneficial interest; amendments
La. R.S. 9:2343— Trustees; appointment; powers; duties; term of office; compliance with Public Bid Law, Public Meetings Law, and Public Records Law; legislative oversight
La. R.S. 9:2344— Liability of trustees and beneficiary
La. R.S. 9:2345— Termination of public trusts
La. R.S. 9:2346— Audits; supervision by legislative auditor; operating budget approval
La. R.S. 9:2347— Bonds of public trust
La. R.S. 9:2348— Special charitable trust; purpose
La. R.S. 9:2349— Duties and liabilities; indemnity; delegating performance
La. R.S. 9:2349.1— Limitation on political and lobbying activities
La. R.S. 9:2350— Indemnification of trustees, officers, employees, and agents of a special charitable trust; insurance
La. R.S. 9:2350.1— Indemnification of third party by special charitable trust
La. R.S. 9:2350.2— Application of other Louisiana Trust Code provisions