Wisconsin § 701.1120 Obligation to pay money.

Wisconsin Statutes

§ 701.1120 — Obligation to pay money.

Wisconsin § 701.1120

Ch. 701Trusts

Subch.subch. XI of ch. 701 SUBCHAPTER XI

UNIFORM PRINCIPAL AND INCOME ACT

This text of Wisconsin § 701.1120 (Obligation to pay money.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 701.1120 (2026).

Text

1120
1120(1) (1) 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.
1120(2) (2) A trustee shall allocate to principal 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. If the obligation matures within one year after the trustee purchases or acquires it, an amount received in excess of its purchase price or its

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701.1120
701.1120(1) (1) 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.
701.1120(2) (2) A trustee shall allocate to principal 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. If the obligation matures within one year after the trustee purchases or acquires it, an amount received in excess of its purchase price or its value when the trust acquires it must be allocated to income.
701.1120(3) (3) This section does not apply to an obligation to which s. 701.1123 , 701.1124 , 701.1125 , 701.1126 , 701.1128 , or 701.1129 applies.