§ 9:2146 — Apportionment of receipts when right to income arises

Louisiana § 9:2146

• Jurisdiction: Louisiana
• Title 9: Civil Code-Ancillaries

Text

§2146. Apportionment of receipts when right to income arises
A. In the administration of property transferred in trust:
(1) Receipts due but not paid when the right of the first income beneficiary to receive
income from the property arises shall be treated as accruing when due.
(2) Receipts in the form of periodic payments, other than receipts on account of an
interest in a juridical person or from a plan subject to R.S. 9:2151.2, not due when the right
of the first income beneficiary to receive income from the property arises, shall be treated as
accruing from day to day.
(3) Receipts in the form of distributions on account of an interest in a juridical person
that are allocated to income under R.S. 9:2149 shall be treated as accruing on the date fixed
for the determination of those entitled to distribution, or, if no date is fixed, on the date of
declaration of the distribution by the juridical person.
(4) All other receipts shall be treated as accruing at the time of payment.
B. Receipts treated as accruing after the right of the first income beneficiary to
receive income from the property arises, are income if they otherwise are income under the
provisions of this Subpart. Receipts treated as accruing at an earlier time are principal.

Legislative History

Acts 2020, No. 17, §1, eff. Jan. 1, 2021.