Kansas § 58-9a-406 Receipt from obligation to be paid in money

Kansas Statutes

§ 58-9a-406 — Receipt from obligation to be paid in money

Kansas § 58-9a-406

Ch. 58PERSONAL AND REAL PROPERTY

Art. 9aUNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT

This text of Kansas § 58-9a-406 (Receipt from obligation to be paid in money) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 58-9a-406 (2026).

Text

(a)This section does not apply to an obligation to which K.S.A. 2024 Supp. 58-9a-409, 58-9a-410, 58-9a-411, 58-9a-412, 58-9a-414, 58-9a-415 or 58-9a-416, and amendments thereto, applies.

(b)A fiduciary shall allocate to income, without provision for amortization of premium, an amount received as interest on an obligation to pay money to the fiduciary, including an amount received as consideration for prepaying principal.

(c)A fiduciary shall allocate to principal an amount received from the sale, redemption or other disposition of an obligation to pay money to the fiduciary. A fiduciary shall allocate to income the increment in value of a bond or other obligation for the payment of money bearing no stated interest but payable or redeemable, at maturity or another future time, in an amou

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(a) This section does not apply to an obligation to which K.S.A. 2024 Supp. 58-9a-409, 58-9a-410, 58-9a-411, 58-9a-412, 58-9a-414, 58-9a-415 or 58-9a-416, and amendments thereto, applies.
(b) A fiduciary shall allocate to income, without provision for amortization of premium, an amount received as interest on an obligation to pay money to the fiduciary, including an amount received as consideration for prepaying principal.
(c) A fiduciary shall allocate to principal an amount received from the sale, redemption or other disposition of an obligation to pay money to the fiduciary. A fiduciary shall allocate to income the increment in value of a bond or other obligation for the payment of money bearing no stated interest but payable or redeemable, at maturity or another future time, in an amount that exceeds the amount in consideration of which it was issued.