Section 564-C:4-415 – Asset-Backed Securities.
564-C:4-415 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 […]
Section 564-C:4-407 – Insurance Policies and Similar Contracts.
564-C:4-407 Insurance Policies and Similar Contracts. – (a) Except as otherwise provided in subsection (b), 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 beneficiary, including a contract that insures the trust or its trustee against loss […]
Section 564-C:4-407A – Charitable Remainder Unitrusts.
564-C:4-407A Charitable Remainder Unitrusts. – (a) In the case of a charitable remainder unitrust within the meaning of section 664(d)(2) of the Internal Revenue Code, in which the trust instrument contains an income exception described in section 664(d)(3) of the Internal Revenue Code, the trustee shall allocate receipts from each of the following assets […]
Section 564-C:4-408 – Insubstantial Allocations Not Required.
564-C:4-408 Insubstantial Allocations Not Required. – (a) If a trustee determines that an allocation between principal and income required by RSA 564-C:4-409, 410, 411, 412, or 415 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in RSA 564-C:1-104(c) applies to the allocation. This power may […]
Section 564-C:4-409 – Deferred Compensation, Annuities, and Similar Payments.
564-C:4-409 Deferred Compensation, Annuities, and Similar Payments. – (a) In this section, " payment " means a payment that a trustee may receive over a fixed number of years or during the life of one or more individuals because of services rendered or property transferred to the payer in exchange for future payments. The […]
Section 564-C:4-410 – Liquidating Asset.
564-C:4-410 Liquidating Asset. – (a) In this section, " liquidating asset " means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments under an arrangement that does […]
Section 564-C:4-411 – Minerals, Water, and Other Natural Resources.
564-C:4-411 Minerals, Water, and Other Natural Resources. – (a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: (1) if received as a nominal bonus, nominal delay rental or nominal annual rent on a […]
Section 564-C:4-412 – Timber.
564-C:4-412 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 […]
Section 564-C:3-301 – When Right to Income Begins and Ends.
564-C:3-301 When Right to Income Begins and Ends. – (a) An income beneficiary is entitled to net income from the date on which the income interest begins. An income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject […]
Section 564-C:3-302 – Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins.
564-C:3-302 Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins. – (a) A trustee shall allocate an income receipt or disbursement other than one to which RSA 564-C:2-201(1) applies to principal if its due date occurs before a decedent dies in the case of an estate or before an income interest […]