Louisiana Revised Statutes 22:403 – Eligibility
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Terms Used In Louisiana Revised Statutes 22:403
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
No organization, corporation, agency, or program shall be a beneficiary for any trust fund established hereunder unless it is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1954, as amended through December 30, 1985.
Acts 1986, No. 574, §2; Redesignated from La. Rev. Stat. 22:2043 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.