Section 469.447 – Transactions in derivatives allocated to principal — options to sell or buy property allocated to principal.
Effective – 28 Aug 2001 469.447. Transactions in derivatives allocated to principal — options to sell or buy property allocated to principal. — 1. As used in this section, the term “derivative” means a contract or financial instrument or a combination of contracts and financial instruments which gives a trust the right or obligation to […]
Section 469.449 – Allocation of collateral financial assets and asset-backed securities.
Effective – 28 Aug 2004 469.449. Allocation of collateral financial assets and asset-backed securities. — 1. As used in this section, the phrase “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 […]
Section 469.451 – Required disbursements from income.
Effective – 28 Aug 2001 469.451. Required disbursements from income. — A trustee shall make the following disbursements from income to the extent that they are not disbursements to which paragraph (b) or (c) of subdivision (2) of section 469.413 applies: (1) One-half of the regular compensation of the trustee and of any person providing […]
Section 469.425 – Allocations to income or principal.
Effective – 28 Aug 2001 469.425. Allocations to income or principal. — A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution […]
Section 469.427 – Separate accounting records maintained, when, procedure.
Effective – 28 Aug 2001 469.427. Separate accounting records maintained, when, procedure. — 1. If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust’s general […]
Section 469.429 – Allocations to principal.
Effective – 28 Aug 2001 469.429. Allocations to principal. — A trustee shall allocate to principal: (1) To the extent not allocated to income pursuant to sections 469.401 to 469.467, assets received from a transferor during the transferor’s lifetime, a decedent’s estate, a trust with a terminating income interest, or a payer under a contract […]
Section 469.431 – Rental property, allocation to income.
Effective – 28 Aug 2001 469.431. Rental property, allocation to income. — To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. […]
Section 469.432 – Interest allocated to income — amounts received from sale, redemption or disposition of an obligation to pay money to principal.
Effective – 28 Aug 2001 469.432. Interest allocated to income — amounts received from sale, redemption or disposition of an obligation to pay money to principal. — 1. An amount received as interest, whether determined at a fixed, variable or floating rate, on an obligation to pay money to the trustee, including an amount received […]
Section 469.433 – Life insurance proceeds allocated to principal — dividends allocated to income.
Effective – 28 Aug 2001 469.433. Life insurance proceeds allocated to principal — dividends allocated to income. — 1. Except as otherwise provided in subsection 2 of this section, a trustee shall allocate to principal the proceeds of a life insurance policy or other contract in which the trust or its trustee is named as […]
Section 469.435 – Insubstantial amounts may be allocated to principal, exceptions — presumption of insubstantial amount, when.
Effective – 28 Aug 2004 469.435. Insubstantial amounts may be allocated to principal, exceptions — presumption of insubstantial amount, when. — If a trustee determines that an allocation between principal and income required by section 469.437, 469.439, 469.441, 469.443 or 469.449 is insubstantial, the trustee may allocate the entire amount to principal unless one of […]