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- 2023 Edition
- Title 15. Probate, Trusts, and Fiduciaries
- Fiduciary
- Article 1.2. Uniform Fiduciary Income and Principal Act
- Part 5. Allocation of Disbursements
C.R.S. § 15-1.2-505 Reimbursement of Principal From Income
Library | Colorado Statutes |
Edition | 2023 |
Currency | Current through 2023 Regular and 1st Extraordinary Session |
Year | 2023 |
Citation | C.R.S. § 15-1.2-505 |
(1) If a fiduciary makes or expects to make a principal disbursement described in subsection (2) of this section, the fiduciary may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or provide a reserve for future principal disbursements.
(2) To the extent a fiduciary has not been and does not expect to be reimbursed by a third party, principal disbursements to which subsection (1) of this section applies include:
(a) An amount chargeable to income but paid from principal because income is not sufficient;
(b) The cost of an improvement to principal, whether a change to an existing asset or the construction of a new asset, including a special assessment;
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