PART II. 
RECEIPTS NOT NORMALLY APPORTIONED



 



[§557A-404]  Principal receipts.  The
following shall be allocated to principal:



(1)  To the extent not allocated to income under this
chapter, assets received from a:



(A)  Transferor during the transferor's lifetime;



(B)  Decedent's estate;



(C)  Trust with a terminating income interest;
or



(D)  Payor pursuant to a contract naming the
trust or its trustee as beneficiary;



(2)  Money or other property received from the sale,
exchange, liquidation, or change in form of a principal asset, including
realized profit, subject to this article;



(3)  Amounts recovered from third parties to reimburse
the trust because of disbursements described in section 557A-502(a)(7) or for
other reasons to the extent not based on the loss of income;



(4)  Proceeds of property taken by eminent domain, but
a separate award made for the loss of income with respect to an accounting
period during which a current income beneficiary had a mandatory income
interest shall be classified as income;



(5)  Net income received in an accounting period
during which there is no beneficiary to whom a trustee may or shall distribute
income; and



(6)  Other receipts as provided in part III. [L 2000,
c 191, pt of §1]