§ 28-4804.02. Distribution from trust or estate.

Current through October 23, 2012

A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, § 28-4804.01 or § 28- 4804.15 applies to a receipt from the trust.

                
                    var val = document.getElementById('citecontent').innerHTML;
                    art.dialog.defaults.title = window.location.href;
                    art.dialog.data('cite', val);
                    art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                    art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');

(Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For Law 13-292, see notes following § 28-4801.01.

Uniform Law

This section is based upon § 402 of the Uniform Principal and Income Act (1997 Act). See 7B Uniform Laws Annotated, Master Edition, or ULA Database on Westlaw.