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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