Mich. Comp. Laws § 555.802
Income; principal; allocation of amounts received as distributions from trust or purchased interest.
Michigan · Michigan Compiled Laws — UNIFORM PRINCIPAL AND INCOME ACT (Act 159 of 2004) · Status: effective
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- Citation
- Mich. Comp. Laws § 555.802, Income; principal; allocation of amounts received as distributions from trust or purchased interest, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1369802
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Full text
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 a 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 a trust to a trustee, section 401 or 415 applies to a receipt from the trust.