Chapter3A. ALABAMA PRINCIPAL AND INCOME ACT.  


Article 1. Definitions and Fiduciary Duties.
§ 19-3A-101. Short title.
§ 19-3A-102. Definitions.
§ 19-3A-103. Fiduciary duties; general principles.
§ 19-3A-104. Trustee's power to adjust.
§ 19-3A-105. Express unitrusts.
§ 19-3A-106. Conversion to unitrust.
Article 2. Decedent's Estate or Terminating Income Interest.
§ 19-3A-201. Determination and distribution of net income.
§ 19-3A-202. Distribution to residuary and remainder beneficiaries.
Article 3. Apportionment at Beginning and End of Income Interest.
§ 19-3A-301. When right to income begins and ends.
§ 19-3A-302. Apportionment of receipts and disbursements upon decedent's death or when income interest begins.
§ 19-3A-303. Apportionment when income interest ends.
Article 4. Allocation of Receipts During Administration.
§ 19-3A-401. Character of receipts.
§ 19-3A-402. Distributions from trust or decedent's estate.
§ 19-3A-403. Business and other activities conducted by fiduciary.
§ 19-3A-404. Principal receipts.
§ 19-3A-405. Rental property.
§ 19-3A-406. Bonds and other obligations.
§ 19-3A-407. Insurance policies and similar contracts.
§ 19-3A-408. Insubstantial allocations not required.
§ 19-3A-409. Deferred compensation, annuities, and similar payments.
§ 19-3A-410. Liquidating assets.
§ 19-3A-411. Minerals, water, and other natural resources.
§ 19-3A-412. Timber.
§ 19-3A-413. Property not productive of income.
§ 19-3A-415. Asset-backed securities.
§ 19-3A-414. Derivative instruments and options.
Article 5. Allocation of Disbursements During Administration of Trust or Decendent's Estate.
§ 19-3A-501. Disbursements from income.
§ 19-3A-502. Disbursements from principal.
§ 19-3A-503. Transfers from income to principal for depreciation.
§ 19-3A-504. Transfers from income to reimburse principal.
§ 19-3A-505. Income taxes.
§ 19-3A-506. Adjustments between principal and income because of taxes.
Article 6. Miscellaneous Provisions.
§ 19-3A-601. Uniformity of application and construction.
§ 19-3A-602. Severability clause.
§ 19-3A-603. Effective date.
§ 19-3A-604. Application to existing trusts and estates.
§ 19-3A-605. Consent of beneficiaries.
§ 19-3A-606. Applicability to tenant and remainder interests.
§ 19-3A-607. Applicability of Section 19-3A-409.
§ 19-3A-608. Application of Alabama Uniform Trust Code.