Louisiana Revised Statutes 25:812 – State historical trusts
Terms Used In Louisiana Revised Statutes 25:812
- 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
A. The director of the State Art, Historical, and Cultural Preservation Agency shall have the power and authority of accepting public trusts created pursuant to La. Rev. Stat. 9:2341 through La. Rev. Stat. 9:2346 wherein the purpose of the trust is the preservation, maintenance, restoration, or operation of historic properties and the beneficiary thereof is the state or said agency.
B. The director of the State Art, Historical, and Cultural Preservation Agency may create and establish one or more private trusts for the preservation, maintenance, restoration, or operation of historic properties which may be acquired by said trust and which shall be subject generally to the provisions of La. Rev. Stat. 9:2271 through La. Rev. Stat. 9:2337 pertaining to charitable, benevolent, or eleemosynary trusts.
C. The director may establish programs for the encouragement of the establishment of the trusts referred to in this Section and may designate such trusts as state historical trusts. The director may appoint the trustees of such state historical trusts as one or more advisory councils pursuant to the provisions of La. Rev. Stat. 25:802(B)(2).
Added by Acts 1975, No. 592, §2, eff. Aug. 1, 1975.