2006 New York Code - Uniform Principal And Income Act
ARTICLE 11-A UNIFORM PRINCIPAL AND INCOME ACT PART 1. DEFINITIONS AND FIDUCIARY DUTIES Section 11-A-1.1 Short title. 11-A-1.2 Definitions. 11-A-1.3 Fiduciary duties; general principles. PART 2. DECEDENT'S ESTATE OR TERMINATING INCOME INTEREST Section 11-A-2.1 Determination and distribution of net income. 11-A-2.2 Distribution to residuary and remainder beneficiaries. PART 3. APPORTIONMENT AT BEGINNING AND END OF INCOME INTEREST Section 11-A-3.1 When right to income begins and ends. 11-A-3.2 Apportionment of receipts and disbursements when decedent dies or income interest begins. 11-A-3.3 Apportionment when income interest ends. PART 4. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST SUBPART 1. RECEIPTS FROM ENTITIES Section 11-A-4.1 Character of receipts. 11-A-4.2 Distribution from trust or estate. 11-A-4.3 Business and other activities conducted by trustee. SUBPART 2. RECEIPTS NOT NORMALLY APPORTIONED Section 11-A-4.4 Principal receipts. 11-A-4.5 Rental property. 11-A-4.6 Obligation to pay money. 11-A-4.7 Insurance policies and similar contracts. SUBPART 3. RECEIPTS NORMALLY APPORTIONED Section 11-A-4.8 Insubstantial allocations not required. 11-A-4.9 Deferred compensation, annuities, and similar payments. 11-A-4.10 Liquidating asset. 11-A-4.11 Minerals, water, and other natural resources. 11-A-4.12 Timber. 11-A-4.13 Property not productive of income. 11-A-4.14 Derivatives and options. 11-A-4.15 Asset-backed securities. PART 5. ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST Section 11-A-5.1 Disbursements from income. 11-A-5.2 Disbursements from principal. 11-A-5.3 Transfers from income to principal for depreciation. 11-A-5.4 Transfers from income to reimburse principal. 11-A-5.5 Income taxes. 11-A-5.6 Adjustments between principal and income because of taxes. PART 6. MISCELLANEOUS PROVISIONS Section 11-A-6.1 Uniformity of application and construction. 11-A-6.2 Severability clause. 11-A-6.3 Effective date. 11-A-6.4 Application of article.
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