DIVISION 9. TRUST LAW 15000-19530›PART 4. TRUST ADMINISTRATION 16000-16632›CHAPTER 3. Uniform Fiduciary Income and Principal Act 16320-16383›ARTICLE 4. Allocation of Receipts 16340-16355
§ 16341
California Probate Code · 2026-09 edition · updated 2026-10-03 · California
A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (commencing with Section 16330), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section 16340, 16354, or 16355 applies to a receipt from the trust.
(Repealed and added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.)
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