La. Stat. tit. 9 § 2144

Current with changes from the 2024 Legislative Session
Section 9:2144 - Income and principal distinguished

Receipts paid or delivered in return for the use of property forming a part of principal are income, unless this Subpart expressly provides to the contrary.

Receipts paid or delivered in consideration for the sale or other transfer of property forming a part of principal or as the replacement of property forming a part of principal are principal unless this Subpart expressly provides to the contrary.

La. R.S. § 9:2144

Acts 2020, No. 17, §1, eff. Jan. 1, 2021.
Amended by Acts 2020, No. 17,s. 1, eff. 1/1/2021.