469.429 Allocations to principal.

469.429. Allocations to principal. — A trustee shall allocate to principal: (1) To the extent not allocated to income pursuant to sections 469.401 to 469.467 , 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; (2) Money or other property received from the sale, exchange, liquidation or change in form of a principal asset, including realized profit, subject to sections 469.423 to 469.467 ; (3) Amounts recovered from third parties to reimburse the trust because of disbursements described in subdivision (7) of subsection 1 of section 469.453 or for other reasons to the extent not based on the loss of income; (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; (5) Net income received in an accounting period during which there is no beneficiary to whom a trustee may or shall distribute income; and (6) Other receipts as provided in sections 469.435 to 469.449 . (L. 2001 H.B. 241)