Louisiana Revised Statutes 22:402 – Establishment upon approval of commissioner
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Terms Used In Louisiana Revised Statutes 22:402
- 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
No trust fund with the purpose of indemnifying multiple nonprofit beneficiary organizations shall be established without the prior approval of the commissioner of insurance. The commissioner shall withhold approval of any trust fund that fails to comply with the provisions and requirements of this Subpart.
Acts 1986, No. 574, §2; Redesignated from La. Rev. Stat. 22:2042 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.