Louisiana § RS 6:578 - Affiliates
Full text of Louisiana Louisiana Civil Code § RS 6:578 — Affiliates, with citation guidance and answers to common questions.
§ RS 6:578. Affiliates
A. Any person acting as a trustee or in any other fiduciary capacity under this Section may hire and compensate, as a delegate, an affiliate of such person if authorized by any of the following:
(1) A trust or fiduciary instrument.
(2) A court order.
(3) A written document signed by each affected client.
B. Fees paid to an affiliate shall be competitive with fees charged by non-affiliates that provide substantially similar services.
C. An affiliate shall include any of the following:
(1) A company that controls the trust company.
(2) A company that is controlled by the company that controls the trust company.
(3) A subsidiary of the trust company.
(4) A company controlled by a common shareholder who beneficially or otherwise controls the trust company or any company that controls the trust company.
(5) A company in which a majority of its directors are also a majority of the directors of the trust company or the company that controls the trust company.
(6) A company that is sponsored or advised on a contractual basis by the trust company or any subsidiary or affiliate of the trust company.
(7) An investment company in which the trust company or any affiliate of the trust company is an investment advisor.
D. An affiliate shall be subject to examination and visitation by the commissioner in the same manner as provided for by R.S. 6:123.
Acts 2003, No. 573, §1, eff. June 27, 2003.
Frequently Asked Questions About Louisiana § RS 6:578
What does Louisiana Civil Code § RS 6:578 cover?
Section RS 6:578 ("Affiliates") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 6:578?
A common citation format is "Louisiana Civil Code § RS 6:578" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 6:578 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.