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2018 Delaware Code
Title 12 - Decedents' Estates and Fiduciary Relations
CHAPTER 61. DELAWARE UNIFORM PRINCIPAL AND INCOME ACT
Subchapter IV Allocation of Receipts During Administration of Trust
§ 61-402. Distribution from trust or estate.
Universal Citation: 12 DE Code § 61-402 (2018)
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.
77 Del. Laws, c. 99, § 1.
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