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Current as of January 01, 2022 | Updated by FindLaw Staff
(1) A fiduciary shall allocate to principal:
(a) To the extent not allocated to income under this article 1.2, an asset received from:
(I) An individual during the individual's lifetime;
(II) An estate;
(III) A trust on termination of an income interest; or
(IV) A payor under a contract naming the fiduciary as beneficiary;
(b) Except as otherwise provided in this part 4, money or other property received from the sale, exchange, liquidation, or change in form of a principal asset;
(c) An amount recovered from a third party to reimburse the fiduciary because of a disbursement described in section 15-1.2-502(1) or for another reason to the extent not based on loss of income;
(d) Proceeds of property taken by eminent domain; except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period;
(e) Net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income; and
(f) Other receipts as provided in sections 15-1.2-408 through 15-1.2-416.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 15. Probate, Trusts, and Fiduciaries § 15-1.2-404. Principal receipts - last updated January 01, 2022 | https://codes.findlaw.com/co/title-15-probate-trusts-and-fiduciaries/co-rev-st-sect-15-1-2-404/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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