California Statutes
§ 16341. — 16341. (Repealed and added by Stats. 2023, Ch. 28, Sec. 2.)
California § 16341.
JurisdictionCalifornia
Code PROBProbate 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
This text of California § 16341. (16341. (Repealed and added by Stats. 2023, Ch. 28, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Probate Code - PROB Code § 16341. (2026).
Text
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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Legislative History
Repealed and added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.
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Bluebook (online)
California § 16341., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/PROB/16341..