Section 55-13A-402 - Distribution from trust or estate. - South-dakota Statutes

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55-13A-402. Distribution from trust or estate. A trustee shall allocate to income 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, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. 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, § 55-13A-401 or 55-13A-415 applies to a receipt from the trust.

Source: SL 2007, ch 282, § 12.

State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-13a > Statute-55-13a-402

55-13A-402. Distribution from trust or estate. A trustee shall allocate to income 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, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. 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, § 55-13A-401 or 55-13A-415 applies to a receipt from the trust.

Source: SL 2007, ch 282, § 12.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-13a > Statute-55-13a-402

55-13A-402. Distribution from trust or estate. A trustee shall allocate to income 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, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. 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, § 55-13A-401 or 55-13A-415 applies to a receipt from the trust.

Source: SL 2007, ch 282, § 12.