The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Xavier I. Alexander.
DIGEST
SB 49 Original 2019 Regular Session Fannin
Present law, relative to trusts, provides for the creation and establishment of out-of-state trust
companies and their activities.
Proposed law provides that an out-of-state trust company may act as a fiduciary from a trust office
only if:
(1)It maintains a trust office or branch in the state; and
(2)The state where the out-of-state trust company has its principal location allows a Louisiana
institution to perform substantially similar business activities.
Proposed law provides that an out-of-state trust company may at each office engage in the same
activities as a Louisiana trust company.
Proposed law provides that an out-of-state trust company may establish a trust representative office
in this state. Further provides that the company may not enter into any trust agreements.
Proposed law provides that a trust company chartered in another state and operating in this state with
one or more physical trust offices may serve as a trustee in the state of Louisiana.
Effective upon signature or lapse of time for gubernatorial action.
(Amends R.S. 6:626(A); adds R.S. 9:1783(A)(3))