{"data":{"id":"us-ar/ark.-code-ann.-28-70-404","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 28-70-404","heading":"Principal receipts.","body":"A trustee 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 trustee as beneficiary;\n(2) money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to this subchapter;\n(3) amounts recovered from third parties to reimburse the trust because of disbursements described in § 28-70-502(a)(7) or for other reasons to the extent 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 trustee may or must distribute income; and\n(6) other receipts as provided in Part 3.","path":["Title 28 Wills, Estates, and Fiduciary Relationships","Subtitle 5. Fiduciary Relationships","Chapter 70 Uniform Principal And Income Act","Subchapter 4 — Allocation of Receipts During Administration of Trust","Part 2 — Receipts Not Normally Apportioned"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.28.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or amended","retrieved_at":"2026-09-17T21:09:03Z","sha256":"30a14c48b9a1ab039151b8d8f342d4b690d30be24e6be3fde35bbb3bfa472183","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-28-70-403","next":"us-ar/ark.-code-ann.-28-70-405"},"notice":"GroundRules: Original legal text. Not legal advice."}