California Statutes
§ 16341. — 16341. (Repealed and added by Stats. 2023, Ch. 28, Sec. 2.)
California·Code PROB Probate Code - PROB·Div. 9. DIVISION 9. TRUST LAW·Part 4. PART 4. TRUST ADMINISTRATION·Ch. 3. CHAPTER 3. Uniform Fiduciary Income and Principal Act·Art. 4. ARTICLE 4. Allocation of Receipts
A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (commencing with Section 16330), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section 16340, 16354, or 16355 applies to a receipt from the trust.
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California § 16341. (16341. (Repealed and added by Stats. 2023, Ch. 28, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Repealed and added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.