RÉSUMÉ DIGEST
ACT 334 (SB 49) 2019 Regular Session Fannin
Prior law, relative to trusts, provided for the creation and establishment of out-of-state trust
companies and their activities.
New law provides that an out-of-state trust company may act as a fiduciary from a trust office
only if both of the following conditions are met:
(1)It maintains a trust office or branch in the state.
(2)The state where the out-of-state trust company has its principal location allows a
Louisiana institution to perform substantially similar business activities.
New law provides that an out-of-state trust company may at each office engage in the same
activities as a Louisiana trust company.
New 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.
Effective upon signature of the governor (June 11, 2019).
(Amends R.S. 6:626(A) and R.S. 9:1783(A))