469.429. Allocations to principal. - Missouri Statutes

Allocations to principal.

469.429. A trustee shall allocate to principal:

(1) To the extent not allocated to income pursuant to sections469.401 to 469.467, assets received from a transferor during thetransferor's lifetime, a decedent's estate, a trust with a terminatingincome interest, or a payer under a contract naming the trust or itstrustee as beneficiary;

(2) Money or other property received from the sale, exchange,liquidation or change in form of a principal asset, including realizedprofit, subject to sections 469.423 to 469.467;

(3) Amounts recovered from third parties to reimburse the trustbecause of disbursements described in subdivision (7) of subsection 1 ofsection 469.453 or for other reasons to the extent not based on the loss ofincome;

(4) Proceeds of property taken by eminent domain, but a separateaward made for the loss of income with respect to an accounting periodduring which a current income beneficiary had a mandatory income interestis income;

(5) Net income received in an accounting period during which there isno beneficiary to whom a trustee may or shall distribute income; and

(6) Other receipts as provided in sections 469.435 to 469.449.

(L. 2001 H.B. 241)