California Statutes
§ 16367. — 16367. (Repealed and added by Stats. 2023, Ch. 28, Sec. 2.)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. 5. ARTICLE 5. Allocation of Disbursements
Unless otherwise provided by the governing instrument, determined by the trustee, or ordered by the court, distributions to beneficiaries shall be considered paid in the following order from the following sources:
(a)From net taxable income other than capital gains.
(b)From net realized short-term capital gains.
(c)From net realized long-term capital gains.
(d)From tax-exempt and other income.
(e)From principal of the trust.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 16367. (16367. (Repealed and added by Stats. 2023, Ch. 28, Sec. 2.))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Repealed and added by Stats. 2023, Ch. 28, Sec. 2.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.