{"data":{"id":"us-ga/o.c.g.a.-53-12-420","jurisdiction":"us-ga","citation":"O.C.G.A. § 53-12-420","heading":"Principal receipts.","body":"A trustee shall allocate to principal:\n(1) To the extent not allocated to income under this article, assets received from a transferor during the transferor’s lifetime, a decedent’s estate, a trust with a terminating income interest, or a payor 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 the provisions of this article;\n(3) Amounts recovered from third parties to reimburse the trust because of disbursements described in paragraph (7) of subsection (a) of Code Section 53-12-451 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 shall be 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 this article.","path":["TITLE 53 Wills, Trusts, and Administration of Estates","CHAPTER 12 Trusts","Article 17 Georgia Principal and Income Act","PART 4 Allocation of Receipts During Administration of Trust","Subpart 2 Receipts Not Normally Apportioned"],"source_url":"https://archive.org/download/gov.ga.ocga.2018/release86.2022.11/gov.ga.ocga.title.53.odt","current_through":"Release 86 (2022-11)","vintage":"Public.Resource.Org bulk O.C.G.A., Release 86 (2022-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T19:34:58Z","sha256":"0c56d3ead0ee2b98c01fdd131ddd5c4b92cd5844dbac249c2237f0f5671bdce9","source_id":"us-ga","stale":false,"prev":"us-ga/o.c.g.a.-53-12-412","next":"us-ga/o.c.g.a.-53-12-421"},"notice":"GroundRules: Original legal text. Not legal advice."}