§ 15-515. Insubstantial allocations not required
West's Annotated Code of MarylandEstates and Trusts
West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 15. Fiduciaries (Refs & Annos)
Subtitle 5. Maryland Uniform Principal and Income Act (Refs & Annos)
Part IV. Allocation of Receipts During Administration of Trust (Refs & Annos)
Subpart C. Receipts Normally Apportioned (Refs & Annos)
MD Code, Estates and Trusts, § 15-515
§ 15-515. Insubstantial allocations not required
(a)(1) If a trustee determines that an allocation between principal and income required by § 15-516, § 15-517, § 15-518, § 15-519, or § 15-522 of this subtitle is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in § 15-502.2(d) of this subtitle applies to the allocation.
(b) An allocation is presumed to be insubstantial if:
Credits
Added by Acts 2000, c. 292, § 2, eff. Oct. 1, 2000. Amended by Acts 2002, c. 478, § 1, eff. Oct. 1, 2002.
MD Code, Estates and Trusts, § 15-515, MD EST & TRST § 15-515
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |