22-3-501 - Disbursements from income. - Utah Statutes

22-3-501. Disbursements from income.
A trustee shall make the following disbursements from income to the extent that they arenot disbursements to which Subsection 22-3-201(2)(b) or (c) applies:
(1) 1/2 of the regular compensation of the trustee and of any person providing investmentadvisory or custodial services to the trustee;
(2) 1/2 of all expenses for accountings, judicial proceedings, or other matters that involveboth the income and remainder interests;
(3) all of the other ordinary expenses incurred in connection with the administration,management, or preservation of trust property and the distribution of income, including interest,ordinary repairs, regularly recurring taxes assessed against principal, and expenses of aproceeding or other matter that concerns primarily the income interest; and
(4) recurring premiums on insurance covering the loss of a principal asset or the loss ofincome from or use of the asset.

Enacted by Chapter 285, 2004 General Session