§2147. Apportionment of receipts when right to income ceases
Upon the termination of an income interest, the income beneficiary whose interest
is terminated, or his heirs, legatees, or assignees, is entitled to receive any required
distributions of or from the following:
(1) Income paid to the trustee but undistributed on the date of termination.
(2) Income due but not paid to the trustee on the date of termination.
(3) Income in the form of periodic payments subject to daily accrual, other than
periodic payments on account of an interest in a juridical person, not due on the date of
termination but accrued prior to the date of termination.
(4) Distributions on account of an interest in a juridical person that are allocated to
income under R.S. 9:2149 and that are paid after the termination of the interest if the date for
determination of those entitled to distribution is a date before the termination of the interest,
or, in the event no date is fixed, if the date of declaration of the distribution by the juridical
person is a date before termination of the interest.
Acts 2020, No. 17, §1, eff. Jan. 1, 2021.