RS 9:1902 Closing of class; continuation of trust - Louisiana Statutes

C.  RULES GOVERNING WHEN MEMBERS OF A CLASS ARE

BENEFICIARIES OF PRINCIPAL ONLY

§1902.  Closing of class; continuation of trust

When the members of a class are designated beneficiaries of principal only and the beneficiaries of income are not a class as defined in this Sub-part, the trust shall terminate when the class has closed and all interests in income have ceased.  The trust instrument may provide that the trust shall continue with respect to the share of a class member for his lifetime.