Montana § 72-34-439 Life Insurance Policy Proceeds -- Proceeds Of Contracts Insuring Against Certain Losses -- Allocation

Montana Statutes

§ 72-34-439 — Life Insurance Policy Proceeds -- Proceeds Of Contracts Insuring Against Certain Losses -- Allocation

Montana § 72-34-439

Title 72ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

Ch. 34PRINCIPAL AND INCOME

Part 4Montana Uniform Principal and Income Act

This text of Montana § 72-34-439 (Life Insurance Policy Proceeds -- Proceeds Of Contracts Insuring Against Certain Losses -- Allocation) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 72-34-439 (2026).

Text

72-34-439 . Life insurance policy proceeds -- proceeds of contracts insuring against certain losses -- allocation.

(1)Except as otherwise provided in subsection (2), a trustee shall allocate to principal the proceeds of a life insurance policy or other contract in which the trust or its trustee is named as beneficiary, including a contract that insures the trust or its trustee against loss for damage to, destruction of, or loss of title to a trust asset. The trustee shall allocate dividends on an insurance policy to income if the premiums on the policy are paid from income and to principal if the premiums are paid from principal.

(2)A trustee shall allocate to income proceeds of a contract that insures the trustee against loss of occupancy or other use by an income beneficiary, loss of i

Free access — add to your briefcase to read the full text and ask questions with AI

72-34-439 . Life insurance policy proceeds -- proceeds of contracts insuring against certain losses -- allocation. (1) Except as otherwise provided in subsection (2), a trustee shall allocate to principal the proceeds of a life insurance policy or other contract in which the trust or its trustee is named as beneficiary, including a contract that insures the trust or its trustee against loss for damage to, destruction of, or loss of title to a trust asset. The trustee shall allocate dividends on an insurance policy to income if the premiums on the policy are paid from income and to principal if the premiums are paid from principal.
(2) A trustee shall allocate to income proceeds of a contract that insures the trustee against loss of occupancy or other use by an income beneficiary, loss of income, or, subject to 72-34-435 , loss of profits from a business.
(3) This section does not apply to a contract to which 72-34-441 applies.