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PART II. REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS

TITLE II. DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS

CHAPTER 203. TRUSTS

SALE OF TRUST ESTATE
Chapter 203: Section 21A. Trust income defined

[ Text of section effective until January 1, 2006. Repealed by 2005, 129, Sec. 2 applicable as provided by 2005, 129, Sec. 6. See 2005, 129, Sec. 5.]

  Section 21A. Unless otherwise provided by a will or other instrument by which a trust is created, distributions to a trustee by a corporation or unincorporated association of shares or other securities or obligations of corporations or unincorporated associations other than the one making the distributions shall be treated as income; provided, however, that to the extent that the trustee, acting as a prudent man would do in the management of investments, determines that any such distribution is essentially principal of the trust, the distribution shall be treated as principal.