{"data":{"id":"us-ut/utah-code-75a-5-407","jurisdiction":"us-ut","citation":"Utah Code § 75A-5-407","heading":"Receipts not normally apportioned -- Insurance policy or contract.","body":"(1) This section does not apply to a contract to which Section 75A-5-409 applies.\n(2)\n(a) Except as otherwise provided in Subsection (3), a fiduciary shall allocate to principal the proceeds of a life insurance policy or other contract received by the fiduciary as beneficiary, including a contract that insures against damage to, destruction of, or loss of title to an asset.\n(b) The fiduciary shall allocate dividends on an insurance policy:\n(i) to income, to the extent premiums on the policy are paid from income; and\n(ii) to principal, to the extent premiums on the policy are paid from principal.\n(3) A fiduciary shall allocate to income proceeds of a contract that insures the fiduciary against loss of:\n(a) occupancy or other use by a current income beneficiary;\n(b) income; or\n(c) subject to Section 75A-5-403, profits from a business.","path":["Title 75A Fiduciaries","Chapter 75A-5 Uniform Fiduciary Income and Principal Act","Part 75A-5-4 Allocation of Receipts"],"source_url":"https://le.utah.gov/xcode/Title75A/Chapter5/75A-5-S407.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"22b390f22c7c5b5f92a08e296cff0af2f7a2e6a25d8fd8dc06072d271ce474ef","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-75a-5-406","next":"us-ut/utah-code-75a-5-408"},"notice":"GroundRules: Original legal text. Not legal advice."}