Del. Code tit. 12 § 61-402

Current through 2024 Legislative Session Act Chapter 269

Section 61-402 - 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, § 61-401 or § 61-415 of this title applies to a receipt from the trust.

12 Del. C. § 61-402

77 Del. Laws, c. 99, § 1.;