California Probate Code

§ 16363

PROB § 16363 Effective Jan 1, 2024Div. 9 · Part 4 · Ch. 3 · Art. 5

Statute text

(a)If a fiduciary makes or expects to make an income disbursement described in subdivision (b), the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income.

(b)To the extent the fiduciary has not been, and does not expect to be, reimbursed by a third party, income disbursements to which subdivision (a) applies include all of the following:

(1)An amount chargeable to principal, but paid from income because principal is illiquid.

…

Legislative history

Repealed and added by Stats. 2023, Ch. 28, Sec. 2.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