California Probate Code

§ 16342

PROB § 16342 Effective Jan 1, 2024Div. 9 · Part 4 · Ch. 3 · Art. 4

Statute text

(a)This section applies to a business or other activity conducted by a fiduciary if the fiduciary determines that it is in the interests of the beneficiaries to account separately for the business or other activity instead of doing either of the following:

(1)Accounting for the business or other activity as part of the fiduciary’s general accounting records.

(2)Conducting the business or other activity through an entity described in subparagraph (A) of paragraph (2) of subdivision (a) of Section 16340.

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Legislative history

Added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.