Cal. Code Regs. tit. 16 § 1265

Current through Register 2024 Notice Reg. No. 49, December 6, 2024

Section 1265 - Use of Income

The annual fee for administering a trust, as provided in Business and Professions Code, Division 3, Chapter 12, Article 9, Section 7735, may be recovered by withdrawals from current trust income, but total withdrawals in any year shall not exceed four percent (4%) of the trust balance on December 31 of that year, or on the cancellation or maturity date during that year, of all payments deposited into trust, plus all prior years accumulated income. Any remaining current income shall be accumulated in trust.

Cal. Code Regs. Tit. 16, § 1265

1. Amendment and renumbering as Section 1267 and new section filed 2-25-72; effective thirtieth day thereafter (Register 72, No. 9).
2. Amendment filed 6-17-77; effective thirtieth day thereafter (Register 77, No. 25).
3. Amendment filed 10-5-81; effective thirtieth day thereafter (Register 81, No. 41).
4. Amendment filed 1-12-90; operative 2-11-90 (Register 90, No. 3).

Note: Authority cited: Sections 7606 and 7740, Business and Professions Code. Reference: Sections 7735 and 7740, Business and Professions Code.

1. Amendment and renumbering as Section 1267 and new section filed 2-25-72; effective thirtieth day thereafter (Register 72, No. 9).
2. Amendment filed 6-17-77; effective thirtieth day thereafter (Register 77, No. 25).
3. Amendment filed 10-5-81; effective thirtieth day thereafter (Register 81, No. 41).
4. Amendment filed 1-12-90; operative 2-11-90 (Register 90, No. 3).