Utah § 75A-5-415 Receipts normally apportioned -- Asset-backed security.

Utah Statutes

§ 75A-5-415 — Receipts normally apportioned -- Asset-backed security.

Utah § 75A-5-415

Title 75AFiduciaries

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

Part 75A-5-4Allocation of Receipts

This text of Utah § 75A-5-415 (Receipts normally apportioned -- Asset-backed security.) 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-5-415 (2026).

Text

(1)Except as otherwise provided in Subsection (2), a fiduciary shall allocate:

(1)(a) to income, a receipt from or related to an asset-backed security, to the extent that the payor identifies the payment as being from interest or other current return; and

(1)(b) to principal, the balance of the receipt.

(2)If a fiduciary receives one or more payments in exchange for part or all of the fiduciary's interest in an asset-backed security, including a liquidation or redemption of the fiduciary's interest in the security, the fiduciary shall allocate:

(2)(a) to income, 10% of receipts from the transaction and 10% of disbursements made in connection with the transaction; and

(2)(b) to principal, the balance of the receipts and disbursements.

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(1) Except as otherwise provided in Subsection (2), a fiduciary shall allocate:
(1)(a) to income, a receipt from or related to an asset-backed security, to the extent that the payor identifies the payment as being from interest or other current return; and
(1)(b) to principal, the balance of the receipt.
(2) If a fiduciary receives one or more payments in exchange for part or all of the fiduciary's interest in an asset-backed security, including a liquidation or redemption of the fiduciary's interest in the security, the fiduciary shall allocate:
(2)(a) to income, 10% of receipts from the transaction and 10% of disbursements made in connection with the transaction; and
(2)(b) to principal, the balance of the receipts and disbursements.