Arkansas § 28-77-404 Principal receipts

Arkansas Statutes

§ 28-77-404 — Principal receipts

Arkansas § 28-77-404

Title28

This text of Arkansas § 28-77-404 (Principal receipts) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 28-77-404 (2026).

Text

A fiduciary shall allocate to principal:

(1)to the extent not allocated to income under this chapter, an asset received from:

(A)an individual during the individual's lifetime;

(B)an estate;

(C)a trust on termination of an income interest; or (D) a payor under a contract naming the fiduciary as beneficiary;

(2)except as otherwise provided in this subchapter, money or other property received from the sale, exchange, liquidation, or change in form of a principal asset;

(3)an amount recovered from a third party to reimburse the fiduciary because of a disbursement described in § 28-77-502(a) or for another reason to the extent not based on loss of income;

(4)proceeds of property taken by eminent domain, except that proceeds awarded for loss of income in an accounting period are income i

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A fiduciary shall allocate to principal: (1) to the extent not allocated to income under this chapter, an asset received from: (A) an individual during the individual's lifetime; (B) an estate; (C) a trust on termination of an income interest; or (D) a payor under a contract naming the fiduciary as beneficiary; (2) except as otherwise provided in this subchapter, money or other property received from the sale, exchange, liquidation, or change in form of a principal asset; (3) an amount recovered from a third party to reimburse the fiduciary because of a disbursement described in § 28-77-502(a) or for another reason to the extent not based on loss of income; (4) proceeds of property taken by eminent domain, except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period; (5) net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income; and (6) other receipts as provided in Part 3.