2010 New York Code
EPT - Estates, Powers & Trusts
Article 11-A - UNIFORM PRINCIPAL AND INCOME ACT
Part 5 - (11-A-5.1 - 11-A-5.6) ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST
11-A-5.1 - Disbursements from income

§ 11-A-5.1 Disbursements from income
    A  trustee  shall  make the following disbursements from income to the
  extent that they are not disbursements to  which  subparagraph  11-A-2.1
  (2)(B) or (C) applies:
    (1)  one-third  of  the  regular  compensation of any person providing
  investment advisory or custodial services to the trustee;
    (2) if the court shall find that  any  judicial  proceeding  primarily
  concerns  income  and that it is equitable to charge the expense of such
  proceeding, or a part thereof, to income, the court may direct that  all
  or  a  specified  part  of  the  expense  of  such proceeding, including
  attorney's fees, shall be charged to income;
    (3) all of the other ordinary expenses incurred in connection with the
  administration, management, or preservation of trust  property  and  the
  distribution  of income, including interest, ordinary repairs, regularly
  recurring taxes assessed against principal; and
    (4) recurring premiums on insurance covering the loss of  a  principal
  asset or the loss of income from or use of the asset.