Sec. 7. As used in this chapter, "mandatory income interest" means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.
As added by P.L.84-2002, SEC.2.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 14. Uniform Principal and Income Act
30-2-14-0.1. Application of Chapter; Application of Certain Amendments to Chapter
30-2-14-1. "Accounting Period" Defined
30-2-14-2. "Beneficiary" Defined
30-2-14-5. "Income Beneficiary" Defined
30-2-14-6. "Income Interest" Defined
30-2-14-7. "Mandatory Income Interest" Defined
30-2-14-8. "Net Income" Defined
30-2-14-10. "Principal" Defined
30-2-14-11. "Remainder Beneficiary" Defined
30-2-14-12. "Terms of a Trust"
30-2-14-13.5. Personal Representative as a Fiduciary
30-2-14-14. Allocating Receipts and Disbursements Between Principal and Income
30-2-14-15. Power of Trustee to Adjust Between Principal and Income
30-2-14-16. Notice of Proposed Action
30-2-14-17. Discretionary Powers of Fiduciary; Failure to Exercise Power; Remedies
30-2-14-18. Distributions to Beneficiaries; Payment of Fees and Costs
30-2-14-19. Beneficiary's Share of Net Income
30-2-14-20. Income Interest; Asset Subject to Trust
30-2-14-21. Income Receipts and Disbursements
30-2-14-22. Termination of Mandatory Income Interest
30-2-14-23. Receipts From an Entity
30-2-14-24. Distributions of Principal and Income From Trust or Estate
30-2-14-25. Separate Accounting Records for Business or Activity
30-2-14-26. Receipts and Property Allocated to Principal
30-2-14-27. Rental Property Receipts
30-2-14-28. Obligation to Pay Money to Trustee
30-2-14-29. Life Insurance Policy Proceeds; Proceeds of Other Contracts
30-2-14-30. Insubstantial Allocation Between Principal and Income
30-2-14-31. Allocating Payments to Principal or Income
30-2-14-32. Receipts From Liquidating Asset
30-2-14-33. Receipts From an Interest in Minerals or Other Natural Resources
30-2-14-34. Net Receipts From the Sale of Timber and Related Products
30-2-14-35. Marital Deduction for Trust Assets
30-2-14-36. Transactions in Derivatives; Granting, Acquiring, or Exercising an Option
30-2-14-37. Asset Backed Securities
30-2-14-38. Disbursements From Income
30-2-14-39. Disbursements From Principal