Effective: January 1, 2007
Latest Legislation: House Bill 416 - 126th General Assembly
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 5812.18 or 5812.38 of the Revised Code applies to a receipt from the trust.
Structure Ohio Revised Code
Chapter 5812 | Uniform Principal and Income Act
Section 5812.01 | Uniform Principal and Income Act Definitions.
Section 5812.02 | Fiduciary Duties - General Principles.
Section 5812.03 | Trustee's Power to Adjust.
Section 5812.07 | Determination and Distribution of Net Income.
Section 5812.08 | Distribution to Residuary and Remainder Beneficiaries.
Section 5812.12 | When Right to Income Begins and Ends.
Section 5812.14 | Apportionment When Income Interest Ends.
Section 5812.18 | Character of Receipts.
Section 5812.19 | Distribution From Trust or Estate.
Section 5812.20 | Business and Other Activities Conducted by Trustee.
Section 5812.24 | Principal Receipts.
Section 5812.25 | Rental Property.
Section 5812.26 | Obligation to Pay Money.
Section 5812.27 | Insurance Policies and Similar Contracts.
Section 5812.31 | Insubstantial Allocations Not Required.
Section 5812.32 | Deferred Compensation, Annuities and Similar Payments.
Section 5812.33 | Liquidating Asset.
Section 5812.34 | Minerals, Water and Other Natural Resources.
Section 5812.36 | Property Not Productive of Income.
Section 5812.37 | Derivatives and Options.
Section 5812.38 | Asset-Backed Securities.
Section 5812.42 | Disbursements From Income.
Section 5812.43 | Disbursements From Principal.
Section 5812.44 | Transfers From Income to Principal for Depreciation.
Section 5812.45 | Transfers From Income to Reimburse Principal.
Section 5812.46 | Income Taxes.
Section 5812.47 | Adjustments Between Principal and Income Because of Taxes.
Section 5812.51 | Citing Chapter.
Section 5812.52 | Application to Existing Trusts and Estates.