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Chapter 116

Uniform Principal and Income Act

Subchapter A. Definitions, Fiduciary Duties, and Other Miscellaneous Provisions

116.001 Short Title 116.002 Definitions 116.003 Uniformity of Application and Construction 116.004 Fiduciary Duties; General Principles 116.005 Trustee's Power to Adjust 116.006 Judicial Control of Discretionary Power 116.007 Provisions Regarding Noncharitable Unitrusts

Subchapter B. Decedent's Estate or Terminating Income Interest

116.051 Determination and Distribution of Net Income 116.052 Distribution to Residuary and Remainder Beneficiaries

Subchapter C. Apportionment at Beginning and End of Income Interest

116.101 When Right to Income Begins and Ends 116.102 Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins 116.103 Apportionment When Income Interest Ends

Subchapter D. Allocation of Receipts During Administration of Trust

Part 1. Receipts from Entities

116.151 Character of Receipts 116.152 Distribution from Trust or Estate 116.153 Business and Other Activities Conducted by Trustee

Part 2. Receipts Not Normally Apportioned

116.161 Principal Receipts 116.162 Rental Property 116.163 Obligation to Pay Money 116.164 Insurance Policies and Similar Contracts

Part 3. Receipts Normally Apportioned

116.171 Insubstantial Allocations Not Required 116.172 Deferred Compensation, Annuities, and Similar Payments 116.173 Liquidating Asset 116.174 Minerals, Water, and Other Natural Resources 116.175 Timber 116.176 Property Not Productive of Income 116.177 Derivatives and Options 116.178 Asset-Backed Securities

Subchapter E. Allocation of Disbursements During Administration of Trust

116.201 Disbursements from Income 116.202 Disbursements from Principal 116.203 Transfers from Income to Principal for Depreciation 116.204 Transfers from Income to Reimburse Principal 116.205 Income Taxes 116.206 Adjustments Between Principal and Income Because of Taxes