KANSAS OFFICE of
  REVISOR of STATUTES

  

Home >> Statutes >> Back


Click to open printable format in new window.Printable Format
 | Next

58-9a-404. Principal receipts. A fiduciary shall allocate to principal:

(a) To the extent not allocated to income under this act, an asset received from:

(1) An individual during the individual's lifetime;

(2) an estate;

(3) a trust on termination of an income interest; or

(4) a payor under a contract naming the fiduciary as beneficiary;

(b) except as otherwise provided in K.S.A. 2023 Supp. 58-9a-401 through 58-9a-416, and amendments thereto, money or other property received from the sale, exchange, liquidation or change in form of a principal asset;

(c) an amount recovered from a third party to reimburse the fiduciary because of a disbursement described in K.S.A. 2023 Supp. 58-9a-502(a), and amendments thereto, or for another reason to the extent not based on loss of income;

(d) proceeds of property taken by eminent domain, except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period;

(e) net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income; and

(f) other receipts as provided in K.S.A. 2023 Supp. 58-9a-408 through 58-9a-416, and amendments thereto.

History: L. 2021, ch. 63, ยง 20; July 1.


 | Next

LEGISLATIVE COORDINATING COUNCIL
  12/18/2023 Meeting Notice Agenda
  LCC Policies

REVISOR OF STATUTES
  2023 New, Amended and Repealed by KSA
  2023 New, Amended and Repealed by Bill
  2024 Valid Section Numbers
  Chapter 72 Statute Transfer List
  Kansas School Equity & Enhancement Act
  Gannon v. State
  Information for Special Session 2021
  General Info., Legal Analysis & Research
  2022 Amended & Repealed Statutes
  2021 Amended & Repealed Statutes
  2020 Amended & repealed Statutes
  2019 Amended & Repealed Statutes

USEFUL LINKS
Session Laws

OTHER LEGISLATIVE SITES
Kansas Legislature
Administrative Services
Division of Post Audit
Research Department