§ 9:1783 — Who may be trustee

§1783. Who may be trustee
A. Only the following persons or entities may serve as a trustee of a trust established
pursuant to this Code:
(1) A natural person enjoying full capacity to contract who is a citizen or resident
alien of the United States, who may be the settlor, the beneficiary, or both.
(2) A federally insured depository institution organized under the laws of Louisiana,
another state, or of the United States.
(3) A financial institution or trust company organized under the laws of Louisiana
or the United States, authorized to exercise trust or fiduciary powers under the laws of
Louisiana or of the United States, or trust company organized under the laws of another state
and operating in Louisiana pursuant to R.S. 6:626(A)(1) and (2).
B. A nonprofit corporation or trust for educational, charitable, or religious purposes
that is designated as income or principal beneficiary may serve as trustee of a trust for mixed
private and charitable purposes.

Legislative History

Acts 1985, No. 534, §1; Acts 1995, No. 215, §1; Acts 1997, No. 1400, §1, eff. July 15, 1997; Acts 2001, No. 684, §1; Acts 2004, No. 521, §1; Acts 2015, No. 219, §1; Acts 2019, No. 334, §2, eff. June 11, 2019; Acts 2020, No. 18, §1.