Ohio Revised Code (Last Updated: January 27, 2016) |
Title 58. LVIII TRUSTS |
Chapter 5812. UNIFORM PRINCIPAL AND INCOME ACT |
Section 5812.19. Distribution from trust or estate
Latest version.
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A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, section 5812.18 or 5812.38 of the Revised Code applies to a receipt from the trust.
Effective Date: 01-01-2007