Arizona § 14-7413 Principal receipts

Arizona Statutes

§ 14-7413 — Principal receipts

Arizona § 14-7413

Title 14Arizona Revised Statutes

Ch. 7TRUST ADMINISTRATION

Art. 4Revised Uniform Principal and Income Act

This text of Arizona § 14-7413 (Principal receipts) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 14-7413 (2026).

Text

A trustee shall allocate to principal:

1.To the extent not allocated to income under this article, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest or a payer under a contract naming the trust or its trustee as beneficiary.

2.Money or other property received from the sale, exchange, liquidation or change in form of a principal asset, including realized profit, subject to this article.

3.Amounts recovered from third parties to reimburse the trust because of disbursements described in section 14-7426, subsection A, paragraph 7 or for other reasons to the extent not based on the loss of income.

4.Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect

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A trustee shall allocate to principal:

1. To the extent not allocated to income under this article, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest or a payer under a contract naming the trust or its trustee as beneficiary.

2. Money or other property received from the sale, exchange, liquidation or change in form of a principal asset, including realized profit, subject to this article.

3. Amounts recovered from third parties to reimburse the trust because of disbursements described in section 14-7426, subsection A, paragraph 7 or for other reasons to the extent not based on the loss of income.

4. Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income.

5. Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income.

6. Other receipts as provided in sections 14-7417 through 14-7424.