58-9-402. Distribution from trust or estate. - Kansas Statutes

58-9-402

Chapter 58.--PERSONAL AND REAL PROPERTY Part 4.--ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST Article 9.--UNIFORM PRINCIPAL AND INCOME ACT (1997)

      58-9-402.   Distribution from trust orestate.A trusteeshall allocate to income an amount received as a distribution of income from atrustor an estate in which the trust has an interest other than a purchasedinterest, andshall allocate to principal an amount received as a distribution of principalfromsuch a trust or estate. If a trustee purchases an interest in a trust that isaninvestment entity, or a decedent or donor transfers an interest in such a trustto atrustee, K.S.A. 58-9-401 or 58-9-415, and amendments thereto,applies to areceipt fromthe trust.

      History:   L. 2000, ch. 61, § 11; July 1.