Utah § 75A-5-402 Receipts from entity -- Distribution from trust or estate.

Utah Statutes

§ 75A-5-402 — Receipts from entity -- Distribution from trust or estate.

Utah·Title 75A Fiduciaries·Ch. 75A-5 Uniform Fiduciary Income and Principal Act·Part 75A-5-4 Allocation of Receipts

(1)A fiduciary shall allocate:

(1)(a) to income an amount received as a distribution of income, including a unitrust distribution under Part 3, Unitrust, from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity; and

(1)(b) to principal an amount received as a distribution of principal from the trust or estate.

(2)If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section 75A-5-401, 75A-5-415, or 75A-5-416 applies to a receipt from the trust.

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(1) A fiduciary shall allocate:
(1)(a) to income an amount received as a distribution of income, including a unitrust distribution under Part 3, Unitrust, from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity; and
(1)(b) to principal an amount received as a distribution of principal from the trust or estate.
(2) If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section 75A-5-401, 75A-5-415, or 75A-5-416 applies to a receipt from the trust.

Utah § 75A-5-402 (Receipts from entity -- Distribution from trust or estate.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.