New Hampshire Statutes
§ 564-C:4-406 — Obligation to Pay Money
New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-C UNIFORM PRINCIPAL AND INCOME ACT·Subdivision Part 2Receipts Not Normally Apportioned
(a)An amount received as interest, whether determined at a fixed, variable, or floating rate, on an obligation to pay money to the trustee, including an amount received as consideration for prepaying principal, must be allocated to income without any provision for amortization of premium.
(b)An amount received from the sale, redemption, or other disposition of an obligation to pay money to the trustee more than one year after it is purchased or acquired by the trustee, including an obligation whose purchase price or value when it is acquired is less than its value at maturity, must be allocated to principal. If the obligation matures within one year after it is purchased or acquired by the trustee, an amount received in excess of its purchase price or its value when acquired by the trust
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New Hampshire § 564-C:4-406 (Obligation to Pay Money) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
2006, 320:68, eff. Aug. 19, 2006.
Nearby Sections
15
§ 564-C:1-101
Short Title§ 564-C:1-102
Definitions§ 564-C:1-103
Fiduciary Duties; General Principles§ 564-C:1-104
Trustee's Power to Adjust§ 564-C:1-105
Judicial Control of Discretionary Power§ 564-C:1-106
Trustee's Power to Convert to Unitrust§ 564-C:1-107
Creation of Total Return Unitrust§ 564-C:2-201
Determination and Distribution of Net Income§ 564-C:3-301
When Right to Income Begins and Ends§ 564-C:3-302
Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins§ 564-C:3-303
Apportionment When Income Interest Ends§ 564-C:4-401
Character of Receipts§ 564-C:4-402
Distribution from Trust or Estate§ 564-C:4-403
Business and Other Activities Conducted by Trustee