{"code":"PROB","codeName":"Probate Code","section":"16341","citation":"Prob. Code, § 16341","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 9. TRUST LAW [15000. - 19530.]","url":"https://blackletter.si/probate-code/division-9"},{"name":"PART 4. TRUST ADMINISTRATION [16000. - 16632.]","url":"https://blackletter.si/probate-code/division-9/part-4"},{"name":"CHAPTER 3. Uniform Fiduciary Income and Principal Act [16320. - 16383.]","url":"https://blackletter.si/probate-code/division-9/part-4/chapter-3"},{"name":"ARTICLE 4. Allocation of Receipts [16340. - 16355.]","url":"https://blackletter.si/probate-code/division-9/part-4/chapter-3/article-4"}],"history":"Repealed and added by Stats. 2023, Ch. 28, Sec. 2.   (SB 522)   Effective January 1, 2024.","effective":"2024-01-01","html":"<p>A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (commencing with Section <a href=\"/prob/16330\">16330</a>), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section <a href=\"/prob/16340\">16340</a>, <a href=\"/prob/16354\">16354</a>, or <a href=\"/prob/16355\">16355</a> applies to a receipt from the trust.</p>","text":"A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (commencing with Section 16330), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section 16340, 16354, or 16355 applies to a receipt from the trust.","otherVersions":[],"url":"https://blackletter.si/probate-code/allocation-of-receipts-16341","source":"California Legislative Information bulk export (pubinfo)"}