Art. 608.  Dissolution of juridical person; thirty year limitation

A usufruct established in favor of a juridical person terminates if the juridical person is dissolved or liquidated, but not if the juridical person is converted, merged or consolidated into a successor juridical person.  In any event, a usufruct in favor of a juridical person shall terminate upon the lapse of thirty years from the date of the commencement of the usufruct.  This Article shall not apply to a juridical person in its capacity as the trustee of a trust.

Acts 1976, No. 103, §1; Acts 2010, No. 881, §1, eff. July 2, 2010.