Louisiana Statutes
§ 9:2291 — Termination of small trust
Louisiana·Title 9 Civil Code-Ancillaries
If the value of the assets of a charitable trust is less than one hundred thousand dollars, the trustees may terminate the charitable trust. In such a case, the trustees shall distribute the trust property to the institutional beneficiaries or, if there are no institutional beneficiaries, in a manner that conforms as nearly as possible to the purposes of the trust. The trustees shall incur no liability for the termination of the trust in accordance with the provisions of this Section.
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Legislative History
Acts 2008, No. 637, §1, eff. Jan. 1, 2009.
Nearby Sections
15
§ 9:2201
§ 9:2201§ 9:2203
Balancing losses against gains§ 9:2204
Liability of successor trustee§ 9:2205
Liability of co-trustee§ 9:222
Place of issuance§ 9:2221
§ 9:2221§ 9:2222
Remedies against third persons§ 9:223
Form§ 9:2231
§ 9:2231§ 9:2232
Injunctive relief