[§557A-402]  Distribution from trust or
estate.  Subject to the terms of a recipient trust, 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 shall be allocated to income.  An
amount received as a distribution of principal from such a trust or estate
shall be allocated to principal.  If a trustee purchases an interest in a trust
that is an investment entity, or a decedent or donor transfers an interest in
such a trust to a trustee, section 557A-401 or 557A-415 shall apply to a
receipt from the trust. [L 2000, c 191, pt of §1]