In applying and construing the Uniform Principal and Income Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: Laws 2001, ch. 113, § 601. ANNOTATIONS Effective dates. — Laws 2001, ch. 113, § 605 made the Uniform Principal […]
If any provision of the Uniform Principal and Income Act or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the act which can be given effect without the invalid provision or application, and to this end the provisions of the act are severable. […]
The Uniform Principal and Income Act applies to every trust or decedent’s estate existing on the effective date of that act, except as otherwise expressly provided in the will or terms of the trust or in that act. History: Laws 2001, ch. 113, § 603. ANNOTATIONS Effective dates. — Laws 2001, ch. 113, § 605 […]
