Utah § 75A-5-408 Receipts normally apportioned -- Insubstantial allocation not required.

Utah Statutes

§ 75A-5-408 — Receipts normally apportioned -- Insubstantial allocation not required.

Utah § 75A-5-408

Title 75AFiduciaries

Ch. 75A-5Uniform Fiduciary Income and Principal Act

Part 75A-5-4Allocation of Receipts

This text of Utah § 75A-5-408 (Receipts normally apportioned -- Insubstantial allocation not required.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 75A-5-408 (2026).

Text

(1)If a fiduciary determines that an allocation between income and principal required by Section 75A-5-409, 75A-5-410, 75A-5-411, 75A-5-412, or 75A-5-415 is insubstantial, the fiduciary may allocate the entire amount to principal, unless Subsection 75A-5-203(5) applies to the allocation.

(2)A fiduciary may presume an allocation is insubstantial under Subsection (1) if:

(2)(a) the amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10%; and

(2)(b) the asset producing the receipt to be allocated has a fair market value less than 10% of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.

(3)The power to make a determination under Subsection (

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(1) If a fiduciary determines that an allocation between income and principal required by Section 75A-5-409, 75A-5-410, 75A-5-411, 75A-5-412, or 75A-5-415 is insubstantial, the fiduciary may allocate the entire amount to principal, unless Subsection 75A-5-203(5) applies to the allocation.
(2) A fiduciary may presume an allocation is insubstantial under Subsection (1) if:
(2)(a) the amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10%; and
(2)(b) the asset producing the receipt to be allocated has a fair market value less than 10% of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.
(3) The power to make a determination under Subsection (1) may be:
(3)(a) exercised by a co-fiduciary in the manner described in Subsection 75A-5-203(6); or
(3)(b) released or delegated for a reason described in Subsection 75A-5-203(7) and in the manner described in Subsection 75A-5-203(8).