Section 22-3-415 - [Renumbered Effective 9/1/2024] Receipts normally apportioned - Asset-backed security(1) Except as otherwise provided in Subsection (2), a fiduciary shall allocate: (a) to income, a receipt from or related to an asset-backed security, to the extent that the payor identifies the payment as being from interest or other current return; and(b) to principal, the balance of the receipt.(2) If a fiduciary receives one or more payments in exchange for part or all of the fiduciary's interest in an asset-backed security, including a liquidation or redemption of the fiduciary's interest in the security, the fiduciary shall allocate: (a) to income, 10% of receipts from the transaction and 10% of disbursements made in connection with the transaction; and(b) to principal, the balance of the receipts and disbursements.Renumbered as § 75A-5-415 by Chapter (number not assigned at time of publication), 2024 General Session ,§ 160, eff. 9/1/2024.Amended by Chapter 348, 2020 General Session ,§ 24, eff. 7/1/2020.Repealed and reenacted by Chapter 495, 2019 General Session ,§ 31, eff. 7/1/2020.Enacted by Chapter 285, 2004 General Session.