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CHAPTER 55-13A

UNIFORM PRINCIPAL AND INCOME ACT

ARTICLE 1. DEFINITIONS AND FIDUCIARY DUTIES.

55-13A-101      Short title.
55-13A-102      Definitions.
55-13A-103      Fiduciary duties--General principles.
55-13A-104      Trustee's power to adjust.
55-13A-105      Judicial control of discretionary power.

ARTICLE 2. DECEDENT'S ESTATE OR TERMINATING INCOME INTEREST.

55-13A-201      Determination and distribution of net income.
55-13A-202      Distribution to residuary and remainder beneficiaries.
ARTICLE 3. APPORTIONMENT AT BEGINNING AND END OF INCOME INTEREST.

55-13A-301      When right to income begins and ends.
55-13A-302      Apportionment of receipts and disbursements when decedent dies or income interest begins.
55-13A-303      Apportionment when income interest ends.
ARTICLE 4. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST.

PART 1. RECEIPTS FROM ENTITIES.

55-13A-401      Character of receipts.
55-13A-402      Distribution from trust or estate.
55-13A-403      Business and other activities conducted by trustee.
PART 2. RECEIPTS NOT NORMALLY APPORTIONED.

55-13A-404      Principal receipts.
55-13A-405      Rental property.
55-13A-406      Obligation to pay money.
55-13A-407      Insurance policies and similar contracts.
PART 3. RECEIPTS NORMALLY APPORTIONED.

55-13A-408      Insubstantial allocations not required.
55-13A-409      Deferred compensation, annuities, and similar payments.
55-13A-410      Liquidating asset.
55-13A-411      Minerals, water, and other natural resources.
55-13A-412      Timber.
55-13A-413      Property not productive of income.
55-13A-414      Derivatives and options.
55-13A-415      Asset-backed securities.
ARTICLE 5. ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF
TRUST.
55-13A-501      Disbursements from income.
55-13A-502      Disbursements from principal.
55-13A-503      Transfers from income to principal for depreciation.
55-13A-504      Transfers from income to reimburse principal.
55-13A-505      Income taxes.
55-13A-506      Adjustments between principal and income because of taxes.
ARTICLE 6. MISCELLANEOUS PROVISIONS.

55-13A-601      Uniformity of application and construction.
55-13A-602      Application of chapter to existing trusts and estates.


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