§7-442. Distribution from trust or estate
107 words·~1 min read·
/me/title-18-c-probate-code/7-442A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, section 7‑441 or 7‑455 applies to a receipt from the trust. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]