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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 13. DECEDENTS' ESTATES, GUARDIANSHIPS, TRANSFERS, TRUSTS, AND HEALTH CARE DECISIONS. |
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Chapter 13.38. ALASKA PRINCIPAL AND INCOME ACT. |
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Article 13.38.06. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST. |
Section 13.38.610. Distribution from trust or estate.
Latest version.
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(a) 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.
(b) A trustee shall allocate to principal an amount received as a distribution of principal from a trust or estate in which the trust has an interest other than a purchased interest.
(c) If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in a trust that is an investment entity to a trustee, AS 13.38.600 or 13.38.750 applies to a receipt from the trust.
Authorities
13.38.600