Michigan Compiled Laws
Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006)
Article 4 - (555.801...555.815)

Section 555.801 - “Entity” Defined; Allocation to Income Money Received; Allocation of Receipts to Principal; Money Received in Partial Liquidation; Limitation; Statement by Entity on Source or Character of Distribution. - Sec. 401. (1) As used in this section, “entity” means...

Section 555.802 - Income; Principal; Allocation of Amounts Received as Distributions From Trust or Purchased Interest. - Sec. 402. A trustee shall allocate to income an amount...

Section 555.803 - Separate Accounting for Business or Other Activity. - Sec. 403. (1) If a trustee who conducts a business...

Section 555.804 - Principal; Allocations. - Sec. 404. A trustee shall allocate to principal all of...

Section 555.805 - Receipts From Rental Property. - Sec. 405. To the extent that a trustee accounts for...

Section 555.806 - Interest Received; Allocation to Income; Proceeds of Sale; Allocation to Principal. - Sec. 406. (1) An amount received as interest, whether determined...

Section 555.807 - Life Insurance Proceeds; Other Contracts; Allocations. - Sec. 407. (1) Except as otherwise provided in subsection (2),...

Section 555.808 - Insubstantial Allocation. - Sec. 408. If a trustee determines that an allocation between...

Section 555.809 - Definitions; Payment Allocation. - Sec. 409. (1) As used in this section: (a) "Payment"...

Section 555.810 - Liquidating Asset; Allocation of Receipts. - Sec. 410. (1) As used in this section, “liquidating asset”...

Section 555.811 - Receipts From Minerals, Water, or Other Natural Resources; Allocations. - Sec. 411. (1) Except as provided in subsection (4), to...

Section 555.812 - Net Receipts From Sale of Timber; Allocations. - Sec. 412. (1) Except as provided in subsection (4), to...

Section 555.813 - Marital Deduction; Insufficient Income From or Use of Trust Assets; Actions to Be Taken by Trustee. - Sec. 413. (1) If a marital deduction is allowed for...

Section 555.814 - Derivative Transactions; Gain or Loss Realized From Exercise of Option; Allocations. - Sec. 414. (1) As used in this section, “derivative” means...

Section 555.815 - Asset-Backed Security; Allocation of Payments. - Sec. 415. (1) As used in this section, “asset-backed security”...