Alabama Code (Last Updated: November 28, 2014) |
Title19 FIDUCIARIES AND TRUSTS. |
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. |