§ 72-34-434

72-34-434. Allocation of amounts received from specified trusts or estates. A trustee shall allocate to income an amount received as a distribution of income from a trust or a decedent's estate, other than an interest in an investment entity, 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 the trust or estate. History: En. Sec. 14, Ch. 506, L. 2003.