18-C §7-421. Determination and distribution of net income

§7-421. Determination and distribution of net income After a decedent dies, in the case of an estate, or after an income interest in a trust ends, the provisions of this section apply.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1.  Determination of net income and […]

18-C §7-422. Distribution to residuary and remainder beneficiaries

§7-422. Distribution to residuary and remainder beneficiaries 1.  Distribution based on fractional interest.  Each beneficiary described in section 7-421, subsection 4 is entitled to receive a portion of the net income equal to the beneficiary’s fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one […]