Abstract: Provides for continuous revisions to the Trust Code.
Present law (R.S. 9:1783(A)(3)) provides for who can serve as a trustee and includes out-of-state
trust companies operating in Louisiana pursuant to present law (R.S. 6:626).
Proposed law amends present law to exclude out-of-state trust companies that establish a trust
representative office in Louisiana from those out-of-state trust companies that may serve as a trustee.
Present law (R.S. 9:2207) permits a competent beneficiary to relieve a trustee from liability in certain
circumstances but includes an exception for releases concerning the improper advancement of money
or conveyance of property to a beneficiary of a spendthrift trust or a trust with restrictions on the
beneficiary's right to alienate.
Proposed law changes present law by removing both the exception and the competency requirement.
(Amends R.S. 9:1783(A)(3) and 2207)


Statutes affected:
HB124 Original: 9:1783(A)(3)
HB124 Engrossed: 9:1783(A)(3)
HB124 Enrolled: 9:1783(A)(3)