Louisiana Revised Statutes 22:404 – Limitation
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Terms Used In Louisiana Revised Statutes 22:404
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
A. No trust fund established hereunder shall indemnify any beneficiary for property loss, liabilities incurred under the workers’ compensation act, or for benefits provided to employees pursuant to any medical, dental, life, or disability income protection plan.
B. Nothing in this Section shall prohibit a trust fund established under the provisions of this Subpart by an association comprised of tow truck owners or operators as defined in La. Rev. Stat. 32:1713 et seq., from indemnifying association members for physical damage and collision coverage on motor vehicles owned by association members.
Acts 1986, No. 574, §2; Acts 2006, No. 554, §1; Redesignated from La. Rev. Stat. 22:2044 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.