Skip to content
Georgia Commons
Menu

Official Code of Georgia Annotated

Title 53. WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES · Chapter 12. TRUSTS · Article 17. GEORGIA PRINCIPAL AND INCOME ACT · Part 4. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST

53-12-411. Distribution from trust or estate.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. 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 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 trust to a trustee, Code Section 53-12-410 or 53-12-431 shall apply to a receipt from the trust.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 53-12-411, enacted by Ga. L. 2010, p. 579, § 1/SB 131.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t52-t53-(v40)-2021-pdf.pdf, Volume V40, 2021 edition, page 945; merge action: carried; file SHA-256 062775612dfc.