2018 Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 10 - Uniform Principal and Income Act
§ 64.2-1010. Distribution from trust or estate

Universal Citation: VA Code § 64.2-1010 (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, § 64.2-1009 or 64.2-1023 applies to a receipt from the trust.

1999, c. 975, § 55-277.11; 2012, c. 614.

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