§ 15-506. Apportionment of receipts and disbursements when decedent dies or income interest beg...
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2019
Effective: October 1, 2019
MD Code, Estates and Trusts, § 15-506
§ 15-506. Apportionment of receipts and disbursements when decedent dies or income interest begins
(a) A trustee shall allocate an income receipt or disbursement other than one to which § 15-503(b) of this subtitle applies to principal if its due date occurs before a decedent dies in the case of an estate or before an income interest begins in the case of a trust or successive income interest.
(b)(1) A trustee shall allocate an income receipt or disbursement to income if its due date occurs on or after the date on which a decedent dies or an income interest begins and it is a periodic due date.
(c)(1) An item of income or an obligation is due on the date the payer is required to make a payment.
Credits
Added by Acts 2000, c. 292, § 2, eff. Oct. 1, 2000. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.
MD Code, Estates and Trusts, § 15-506, MD EST & TRST § 15-506
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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