§ 2-3-816 — Obligation to pay money

(a) 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.
(b) 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 (1) year
after it is purchased or acquired by the trustee, including an
obligation the purchase price or value of which when it is
acquired is less than its value at maturity. If the obligation
matures within one (1) year after it is purchased or acquired by
the trustee, an amount received in excess of its purchase price
or its value when acquired by the trust must be allocated to
income.
(c) This section does not apply to obligations to which
W.S. 2-3-819 through 2-3-822, 2-3-824 or 2-3-825 applies.