(1) A fiduciary shall allocate to principal:(1) to the extent not allocated to income under this chapter, an asset received from:(A) an individual during the individual's lifetime;(B) an estate;(C) a trust on termination of an income interest; or(D) a payor under a contract naming the fiduciary as beneficiary;(2) except as otherwise provided in this subchapter, money or other property received from the sale, exchange, liquidation, or change in form of a principal asset;(3) an amount recovered from a third party to reimburse the fiduciary because of a disbursement described in § 28-77-502(a) or for another reason to the extent not based on loss of income;(4) proceeds of property taken by eminent domain, except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period;(5) net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income; and(6) other receipts as provided in Part 3.
(1) to the extent not allocated to income under this chapter, an asset received from:(A) an individual during the individual's lifetime;(B) an estate;(C) a trust on termination of an income interest; or(D) a payor under a contract naming the fiduciary as beneficiary;
(A) an individual during the individual's lifetime;
(B) an estate;
(C) a trust on termination of an income interest; or
(D) a payor under a contract naming the fiduciary as beneficiary;
(2) except as otherwise provided in this subchapter, money or other property received from the sale, exchange, liquidation, or change in form of a principal asset;
(3) an amount recovered from a third party to reimburse the fiduciary because of a disbursement described in § 28-77-502(a) or for another reason to the extent not based on loss of income;
(4) proceeds of property taken by eminent domain, except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period;
(5) net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income; and
(6) other receipts as provided in Part 3.