469.425. Allocations to income or principal.
Allocations to income or principal.
469.425. A trustee shall allocate to income an amount received as adistribution of income from a trust or an estate in which the trust has aninterest other than a purchased interest, and shall allocate to principalan amount received as a distribution of principal from such a trust orestate. If a trustee purchases an interest in a trust that is aninvestment entity, or a decedent or donor transfers an interest in such atrust to a trustee, section 469.423 or 469.449 shall apply to a receiptfrom the trust.
(L. 2001 H.B. 241)