§ 2-3-813 — Business and other activities conducted by trustee

(a) If a trustee who conducts a business or other activity
determines that it is in the best interest of all the
beneficiaries to account separately for the business or activity
instead of accounting for it as part of the trust's general
accounting records, the trustee may maintain separate accounting
records for its transactions, whether or not its assets are
segregated from other trust assets.
(b) A trustee who accounts separately for a business or
other activity may determine the extent to which its net cash
receipts must be retained for working capital, the acquisition
or replacement of fixed assets, and other reasonably foreseeable
needs of the business or activity, and the extent to which the
remaining net cash receipts are accounted for as principal or
income in the trust's general accounting records. If a trustee
sells assets of the business or other activity, other than in
the ordinary course of the business or activity, the trustee
shall account for the net amount received as principal in the
trust's general accounting records to the extent the trustee
determines that the amount received is no longer required in the
conduct of the business.
(c) Activities for which a trustee may maintain separate
accounting records include:
(i) Retail, manufacturing, service and other
traditional business activities;
(ii) Farming;
(iii) Raising and selling livestock and other
animals;
(iv) Management of rental properties;
(v) Extraction of minerals and other natural
resources;
(vi) Timber operations; and
(vii) Activities to which W.S. 2-3-824 applies.