{"data":{"id":"us-nd/n.d.-cent.-code-59-04.2-12","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 59-04.2-12","heading":"(404) Principal receipts","body":"A trustee shall allocate to principal:\n1.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.\n2.Money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to sections 59-04.2-09 through 59-04.2-23.\n3.Amounts recovered from third parties to reimburse the trust because of disbursements described in subdivision g of subsection 1 of section 59-04.2-25 or for other reasons to the extent not based on the loss of income.\n4.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.\n5.Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income.\n6.Other receipts as provided in sections 59-04.2-16 through 59-04.2-23.","path":["Title 59 Trusts","Chapter 59-04.2 Uniform Principal And Income Act (1997)"],"source_url":"https://ndlegis.gov/cencode/t59c04-2.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"df4a9bf6403c3fa94787b4ef4ff23b0ec7a99db7ab9bced8c507114c27d1d703","source_id":"us-nd","stale":false,"prev":"us-nd/n.d.-cent.-code-59-04.2-11","next":"us-nd/n.d.-cent.-code-59-04.2-13"},"notice":"GroundRules: Original legal text. Not legal advice."}