§2142. Allocation to beneficiaries of income and principal
A trust receipt or expense shall be allocated to income or principal or partly to each:
(1) In accordance with the terms of the trust instrument, including any provision
giving the trustee discretion, notwithstanding contrary provisions of this Subpart.
(2) In accordance with the provisions of this Subpart, in the absence of contrary
provisions of the trust instrument.
(3) If no rule is provided in the trust instrument or this Subpart, in accordance with
what is reasonable and equitable in view of the interests of those entitled to income as well
as of those entitled to principal.
Acts 1989, No. 114, §1; Acts 2001, No. 520, §2; Acts 2020, No. 17, §1, eff. Jan. 1,
2021.