2020 Second Extraordinary Session ENROLLED
SENATE CONCURRENT RESOL UTION NO. 10
BY SENATOR FOIL
A CONCURRENT RESOL UTION
To urge and request the Louisiana State Law Institute to study certain matters pertaining to
the Louisiana Trust Code.
WHEREAS, R.S. 9:1731, provides that a trust is a relationship resulting from the
transfer of title to property to a person to be administered by him as a fiduciary for the
benefit of another; and
WHEREAS, R.S. 9:1781, defines a trustee as a person to whom title to the trust
property is transferred to be administered by him as a fiduciary; and
WHEREAS, questions have arisen as to whether adequate safeguards exist in the
present law to ensure that minors and disabled adults are not being exploited.
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
urge and request that the Louisiana State Law Institute study whether present laws in the
Louisiana Trust Code should be revised to mandate language in an award or settlement for
a minor or disabled individual to authorize that funds be held as appropriate in a pooled trust,
blocked account, registry of the court, held with a qualified custodian or guardian, or be
given directly to the individual, and whether out of state corporate trustees who meet state
and FDIC requirements, or pooled trustees operating under nonprofit status should be
allowed to operate in this state.
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
director of the Louisiana State Law Institute, and that the Louisiana State Law Institute
report its findings and recommendations to the legislature on or before August 31, 2021.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
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