{
  "urn": "urn:us-la:rs:9:2149",
  "title_number": "9",
  "section_number": "2149",
  "citation": "R.S. 9:2149",
  "heading": "Receipts from interests in juridical persons",
  "text": "A. Except as otherwise provided in this Section, a trustee shall allocate to income money received on account of an interest in a juridical person.\n\nB. A trustee shall allocate to principal the following distributions received on account of a trustee's interest in a juridical person:\n\n(1) Property other than money.\n\n(2) Money received in one distribution or a series of related distributions in exchange for part or all of a trustee's interest in the juridical person.\n\n(3) Money received in total or partial liquidation of the juridical person.\n\n(4) Money received from a regulated investment company or a real estate investment trust if the money distributed is a capital gain dividend for federal income tax purposes.\n\nC. Money is received in partial liquidation to the extent that the juridical person, at or near the time of a distribution, indicates that it is a distribution in partial liquidation. A partial liquidation also occurs if the total amount of money and property received in a distribution or series of related distributions is greater than twenty percent of the juridical person's gross assets, as shown by the juridical person's year-end financial statements immediately preceding the initial receipt.\n\nD. Money is not received in partial liquidation, nor may it be taken into account under Subsection C of this Section, to the extent that it does not exceed the amount of income tax that a trustee or beneficiary must pay on taxable income of the juridical person that distributes the money.\n\nE. Notwithstanding the provisions of this Section, if the receipt is one to which a more specific provision of this Subpart applies, a trustee may allocate the receipt based upon the source or character of the receipt and may rely upon a statement made by the juridical person regarding the source or character of the receipt.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "9",
      "name": "CIVIL CODE--ANCILLARIES"
    },
    {
      "level": "code_preliminary_title",
      "number": "1",
      "name": "[BLANK]"
    },
    {
      "level": "code_book",
      "number": "III",
      "name": "OF THE DIFFERENT MODES OF ACQUIRING THE OWNERSHIP OF THINGS PRELIMINARY TITLE - GENERAL DISPOSITIONS (BLANK)"
    },
    {
      "level": "code_title",
      "number": "II",
      "name": "OF DONATIONS INTER VIVOS (BETWEEN LIVING PERSONS) AND MORTIS CAUSA (IN PROSPECT OF DEATH)"
    },
    {
      "level": "chapter",
      "number": "1",
      "name": "LOUISIANA TRUST CODE"
    },
    {
      "level": "part",
      "number": "V",
      "name": "DUTIES AND POWERS OF THE TRUSTEE"
    },
    {
      "level": "subpart",
      "number": "D",
      "name": "ALLOCATION TO INCOME AND PRINCIPAL"
    }
  ],
  "breadcrumb": "Title 9 › Code Preliminary Title › Code Book III › Code Title II › Chapter 1 › Part V › Subpart D",
  "acts_citations": [
    {
      "act_year": 2020,
      "act_number": 17,
      "section": 1,
      "effective_date": "2021-01-01",
      "effective_date_raw": "Jan. 1, 2021",
      "role": "enactment"
    }
  ],
  "acts_citations_raw": "Acts 2020, No. 17, §1, eff. Jan. 1, 2021.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=106956",
  "website_law_id": 106956,
  "scrape_timestamp": "2026-05-22T23:55:21Z",
  "source_html_hash": "sha256:5f25dbc9b228a860e467403028c5d6e49183442b650f3256349daf8184333586",
  "schema_version": "1.0.0"
}