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Subchapter I - Definitions and Fiduciary Duties
§ 28–4801.01. Short title - This chapter may be cited as the “Uniform Principal and...
§ 28–4801.02. Definitions - For the purposes of this chapter, the term: (1) “Accounting...
§ 28–4801.03. Fiduciary duties; general principles - (a) In allocating receipts and disbursements to or between principal...
§ 28–4801.04. Trustee’s power to adjust - (a) A trustee may adjust between principal and income to...
Subchapter II - Decedent’s Estate or Terminating Income Interest
§ 28–4802.01. Determination and distribution of net income - After a decedent dies, in the case of an estate,...
§ 28–4802.02. Distribution to residuary and remainder beneficiaries - (a) Each beneficiary described in § 28-4802.01(4) is entitled to...
Subchapter III - Apportionment And End Of Income Interest
§ 28–4803.01. When right to income begins and ends - (a) An income beneficiary is entitled to net income from...
§ 28–4803.02. Apportionment of receipts and disbursements when decedent dies or income interest begins - (a) A trustee shall allocate an income receipt or disbursement...
§ 28–4803.03. Apportionment when income interest ends - (a) For the purposes of this section, the term “undistributed...
Subchapter IV - Allocation of Receipts During Administration of Trust
Subpart 1 - Receipts From Entities
§ 28–4804.01. Character of receipts - (a) For the purposes of this section, the term “entity”...
§ 28–4804.02. Distribution from trust or estate - A trustee shall allocate to income an amount received as...
§ 28–4804.03. Business and other activities conducted by trustee - (a) If a trustee who conducts a business or other...
Subpart 2 - Receipts Not Normally Apportioned
§ 28–4804.04. Principal receipts - A trustee shall allocate to principal: (1) To the extent...
§ 28–4804.05. Rental property - To the extent that a trustee accounts for receipts from...
§ 28–4804.06. Obligation to pay money - (a) An amount received as interest, whether determined at a...
§ 28–4804.07. Insurance policies and similar contracts - (a) Except as otherwise provided in subsection (b) of this...
Subpart 3 - Receipts Normally Apportioned
§ 28–4804.08. Insubstantial allocations not required - If a trustee determines that an allocation between principal and...
§ 28–4804.09. Deferred compensation, annuities, and similar payments - (a) For the purposes of this section, the term: (1)...
§ 28–4804.10. Liquidating asset - (a) For the purposes of this section, the term “liquidating...
§ 28–4804.11. Minerals, water, and other natural resources - (a) To the extent that a trustee accounts for receipts...
§ 28–4804.12. Timber - (a) To the extent that a trustee accounts for receipts...
§ 28–4804.13. Property not productive of income - (a) If a marital deduction is allowed for all or...
§ 28–4804.14. Derivatives and options - (a) For the purposes of this section, the term “derivative”...
§ 28–4804.15. Asset-backed securities - (a) For the purposes of this section, the term “asset-backed...
Subchapter V - Allocation Of Disbursements During Administration Of Trust
§ 28–4805.01. Disbursements from income - A trustee shall make the following disbursements from income to...
§ 28–4805.02. Disbursements from principal - (a) A trustee shall make the following disbursements from principal:...
§ 28–4805.03. Transfers from income to principal for depreciation - (a) For the purposes of this section, the term “depreciation”...
§ 28–4805.04. Transfers from income to reimburse principal - (a) If a trustee makes or expects to make a...
§ 28–4805.05. Income taxes - (a) A tax required to be paid by a trustee...
§ 28–4805.06. Adjustments between principal and income because of taxes - (a) A fiduciary may make adjustments between principal and income...
Subchapter VI - Miscellaneous Provisions
§ 28–4806.01. Uniformity of application and construction - In applying and construing this chapter, consideration must be given...
§ 28–4806.02. Application of chapter to existing trusts and estates - This chapter applies to every trust or decedent’s estate existing...
§ 28–4806.03. Transitional matters - Section 28-4804.09 applies to a trust described in § 28-4804.09(d)...