{"data":{"id":"us-al/ala.-code-19-3a-404","jurisdiction":"us-al","citation":"Ala. Code § 19-3A-404","heading":"Principal Receipts.","body":"A fiduciary shall allocate to principal:\n(1) To the extent not allocated to income under this chapter, assets received from a transferor during the transferor’s lifetime, a decedent’s estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its fiduciary as beneficiary;\n(2) Subject to any contrary rules in Section 19-3A-401 through Section 19-3A-415, money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit;\n(3) Amounts recovered from third parties to reimburse the trust because of disbursements described in Section 19-3A-502(c) or for other reasons not based on the loss of income;\n(4) Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income;\n(5) Net income received in an accounting period during which there is no beneficiary to whom a fiduciary may or must distribute income; and\n(6) Other receipts as provided in Section 19-3A-408 through Section 19-3A-415.","path":["Title 19 Fiduciaries and Trusts.","Chapter 3A Alabama Principal and Income Act.","Article 4 Allocation of Receipts During Administration."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=19-3A-404","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:52Z","sha256":"14a2f28f148013c8d7a5cc3d8e399f8d7bf7149ed65b8057119f274761571a9f","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-19-3a-403","next":"us-al/ala.-code-19-3a-405"},"notice":"GroundRules: Original legal text. Not legal advice."}