Statutes, codes, and regulations
Code of Laws of South Carolina 1976
Title 62 - SOUTH CAROLINA PROBATE CODEArticle 7 - SOUTH CAROLINA TRUST CODE
Part 9 - SOUTH CAROLINA UNIFORM PRINCIPAL AND INCOME ACT; SOUTH CAROLINA UNIFORM PRUDENT INVESTOR ACT
Section 62-7-904G - Distribution of unitrust amount considered distribution of income and not of principal

S.C. Code § 62-7-904G

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Current through 2024 Act No. 225.
Section 62-7-904G - Distribution of unitrust amount considered distribution of income and not of principal

Conversion to a total return unitrust under Sections 62-7-904B through 62-7-904P does not affect any other provision of the terms of the trust, if any, regarding distributions of principal. For purposes of Sections 62-7-904B through 62-7-904P, the distribution of a unitrust amount is considered a distribution of income and not of principal.

S.C. Code § 62-7-904G

Amended by 2013 S.C. Acts, Act No. 100 (SB 143), s 2, eff. 1/1/2014.