Act 159 of 2004 - UNIFORM PRINCIPAL AND INCOME ACT (555.501 - 555.1005)
- 159-2004-1 - ARTICLE 1 (555.501...555.505)
- Section 555.501 - Short title.
- Section 555.502 - Definitions.
- Section 555.503 - Duties of fiduciary; allocation of receipts and disbursements to or between principal and income; discretionary power; impartiality.
- Section 555.504 - Adjustment between principal and income; factors; policy; circumstances prohibiting adjustment; exercise of power by cofiduciary; release of or limitation on power to adjust.
- Section 555.505 - Exercise of discretionary power by fiduciary; limitation on court to order; decision; petition; burden of proof.
- 159-2004-2 - ARTICLE 2 (555.601...555.602)
- 159-2004-3 - ARTICLE 3 (555.701...555.703)
- 159-2004-4 - ARTICLE 4 (555.801...555.815)
- Section 555.801 - “Entity” defined; allocation to income money received; allocation of receipts to principal; money received in partial liquidation; limitation; statement by entity on source or charac
- Section 555.802 - Income; principal; allocation of amounts received as distributions from trust or purchased interest.
- Section 555.803 - Separate accounting for business or other activity.
- Section 555.804 - Principal; allocations.
- Section 555.805 - Receipts from rental property.
- Section 555.806 - Interest received; allocation to income; proceeds of sale; allocation to principal.
- Section 555.807 - Life insurance proceeds; other contracts; allocations.
- Section 555.808 - Insubstantial allocation.
- Section 555.809 - Payment allocation.
- Section 555.810 - Liquidating asset; allocation of receipts.
- Section 555.811 - Receipts from minerals, water, or other natural resources; allocations.
- Section 555.812 - Net receipts from sale of timber; allocations.
- Section 555.813 - Marital deduction; insufficient income from or use of trust assets; actions to be taken by trustee.
- Section 555.814 - Derivative transactions; gain or loss realized from exercise of option; allocations.
- Section 555.815 - Asset-backed security; allocation of payments.
- 159-2004-5 - ARTICLE 5 (555.901...555.906)
- Section 555.901 - Income disbursements.
- Section 555.902 - Principal disbursements.
- Section 555.903 - Depreciation; amount transferred to principal.
- Section 555.904 - Principal disbursement; transfer of amount to provide reserve.
- Section 555.905 - Tax payments.
- Section 555.906 - Income beneficiaries and remainder benefits; adjustments between principal and income.
- 159-2004-6 - ARTICLE 6 (555.1001...555.1005)