Section 68-10-602 – SEVERABILITY CLAUSE.
68-10-602. SEVERABILITY CLAUSE. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. History: […]
Section 68-10-603 – [RESERVED.]
68-10-603. [RESERVED.] History: [68-10-603, added 2001, ch. 261, sec. 2, p. 961.]
Section 68-10-604 – [RESERVED.]
68-10-604. [RESERVED.] History: [68-10-604, added 2001, ch. 261, sec. 2, p. 961.]
Section 68-10-605 – APPLICATION OF CHAPTER TO EXISTING TRUSTS AND ESTATES.
68-10-605. APPLICATION OF CHAPTER TO EXISTING TRUSTS AND ESTATES. This chapter applies to every trust or decedent’s estate existing on the effective date of this chapter except as otherwise expressly provided in the will or terms of the trust or in this chapter. History: [68-10-605, added 2001, ch. 261, sec. 2, p. 961.]
Section 68-10-412 – TIMBER.
68-10-412. TIMBER. (a) To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts: (1) To income to the extent that the amount of timber removed from the land does not exceed the rate of growth of the […]
Section 68-10-413 – PROPERTY NOT PRODUCTIVE OF INCOME.
68-10-413. PROPERTY NOT PRODUCTIVE OF INCOME. (a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under […]
Section 68-10-414 – DERIVATIVES AND OPTIONS.
68-10-414. DERIVATIVES AND OPTIONS. (a) In this section, "derivative" means a contract or financial instrument or a combination of contracts and financial instruments which give a trust the right or obligation to participate in some or all changes in the price of a tangible or intangible asset or group of assets, or changes in a […]
Section 68-10-415 – ASSET-BACKED SECURITIES.
68-10-415. ASSET-BACKED SECURITIES. (a) In this section, "asset-backed security" means an asset whose value is based upon the right it gives the owner to receive distributions from the proceeds of financial assets that provide collateral for the security. The term includes an asset that gives the owner the right to receive from the collateral financial […]
Section 68-10-501 – DISBURSEMENTS FROM INCOME.
68-10-501. DISBURSEMENTS FROM INCOME. A trustee shall make the following disbursements from income to the extent that they are not disbursements to which section 68-10-201(2)(B) or (2)(C), Idaho Code, applies: (1) One-half (1/2) of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee; (2) One-half […]
Section 68-10-502 – DISBURSEMENTS FROM PRINCIPAL.
68-10-502. DISBURSEMENTS FROM PRINCIPAL. (a) A trustee shall make the following disbursements from principal: (1) The remaining one-half (1/2) of the disbursements described in section 68-10-501(1) and (2), Idaho Code; (2) All of the trustee’s compensation calculated on principal as a fee for acceptance, distribution or termination, and disbursements made to prepare property for sale; […]