Delaware § 61-604 Certain charitable remainder unitrusts

Delaware Statutes

§ 61-604 — Certain charitable remainder unitrusts

Delaware § 61-604

JurisdictionDelaware

Title12

PartAllocation of Principal and Income

Ch. 61DELAWARE UNIFORM PRINCIPAL AND INCOME ACT

Subch.Miscellaneous Provisions

This text of Delaware § 61-604 (Certain charitable remainder unitrusts) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 12, § 61-604 (2026).

Text

(a)Notwithstanding any contrary provision of the chapter, if the trust instrument adopts the provisions of this section by reference, an increase in the value of the following investments owned by a charitable remainder unitrust of the type authorized in § 664(d)(3) of the Internal Revenue Code (26 U.S.C. § 664(d)(3)) or any successor provision thereof, is distributable as income when it becomes available for distribution:

(1)A zero coupon bond:

(2)An annuity contract before annuitization;

(3)A life insurance contract before the death of the insured;

(4)An interest in a common trust fund (as defined in § 584 of the Internal Revenue Code (26 U.S.C. § 584) or any successor provision thereof);

(5)An interest in a partnership, a limited liability company, or a statutory trust (as an

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(a) Notwithstanding any contrary provision of the chapter, if the trust instrument adopts the provisions of this section by reference, an increase in the value of the following investments owned by a charitable remainder unitrust of the type authorized in § 664(d)(3) of the Internal Revenue Code (26 U.S.C. § 664(d)(3)) or any successor provision thereof, is distributable as income when it becomes available for distribution:

(1) A zero coupon bond:

(2) An annuity contract before annuitization;

(3) A life insurance contract before the death of the insured;

(4) An interest in a common trust fund (as defined in § 584 of the Internal Revenue Code (26 U.S.C. § 584) or any successor provision thereof);

(5) An interest in a partnership, a limited liability company, or a statutory trust (as any of those terms may be described in § 7701 of the Internal Revenue Code (26 U.S.C § 7701) or any successor provision thereof), including any partnership, limited liability company, or statutory trust that is a disregarded entity for federal income tax purposes; or

(6) Any other obligation for the payment of money that is payable at a future time in accordance with the a fixed, variable or discretionary schedule of appreciation in excess of the price at which it was issued.

(b) For purposes of this section the increase in value of an investment described in subsection (a) of this section is available for distribution only when the trustee receives cash on account of the investment. Any trust instrument executed prior to June 30, 1997, that incorporates by reference the provisions of former subsection (c) of this section, which existed prior to amendment effective June 30, 1997, shall be deemed to have incorporated by reference this subsection.