§557A-402 Distribution from trust or estate. Subject to the terms of a recipient trust, 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 shall be allocated to income. An amount received as a distribution of principal from such a trust or estate shall be allocated to principal. 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 557A-401 or 557A-415 shall apply to a receipt from the trust. [L 2000, c 191, pt of §1]
Structure Hawaii Revised Statutes
Title 30. Guardians and Trustees
557A. Uniform Principal and Income Act
557A-103 Fiduciary duties; general principles.
557A-104 Trustee's power to adjust.
557A-105 Notice of proposed action.
557A-106 Proceedings regarding trustee's power to adjust.
557A-201 Determination and distribution of net income.
557A-202 Distribution to residuary and remainder beneficiaries.
557A-301 When right to income begins and ends.
557A-302 Apportionment of receipts and disbursements when decedent dies or income interest begins.
557A-303 Apportionment when income interest ends.
557A-401 Character of receipts.
557A-402 Distribution from trust or estate.
557A-403 Business and other activities conducted by trustee.
557A-406 Obligation to pay money.
557A-407 Insurance policies and similar contracts.
557A-408 Insubstantial allocations not required.
557A-409 Deferred compensation, annuities, and similar payments.
557A-411 Minerals, water, and other natural resources.
557A-413 Property not productive of income.
557A-414 Derivatives and options.
557A-415 Asset-backed securities.
557A-501 Disbursements from income.
557A-502 Disbursements from principal.
557A-503 Transfers from income to principal for depreciation.
557A-504 Transfers from income to reimburse principal.
557A-506 Adjustments between principal and income because of taxes.