Uniform Principal and Income Act

ORS 129.305
UPIA 402. Distribution from trust or estate


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, ORS 129.300 (UPIA 401. Character of receipts) or 129.385 (UPIA 415. Asset-backed securities) applies to a receipt from the trust. [2003 c.279 §11]

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Last accessed
Jun. 26, 2021