Alaska § 13.38.630 - Principal receipts.
Full text of Alaska Alaska Statutes § 13.38.630 — Principal receipts., with citation guidance and answers to common questions.
§ 13.38.630. Principal receipts.
A trustee shall allocate to principal any of the following: (1) to the extent not allocated to income under this chapter, assets received from (A) a transferor during the transferor's lifetime;
(B) a decedent's estate;
(C) a trust with a terminating income interest; or
(D) a payor under a contract naming the trust or its trustee as beneficiary;
(2) money or other property received from a principal asset's sale, exchange, liquidation, or change in form, including realized profit subject to AS 13.38.600 — 13.38.750;
(3) amounts recovered from third parties to reimburse the trust because of disbursements described in AS 13.38.810 (a)(8) or for other reasons, to the extent not based on the loss of income, except that 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;
(4) net income received in an accounting period during which there is not a beneficiary to whom a trustee may or must distribute income;
(5) other receipts as provided in AS 13.38.680 — 13.38.750.
Frequently Asked Questions About Alaska § 13.38.630
What does Alaska Statutes § 13.38.630 cover?
Section 13.38.630 ("Principal receipts.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 13.38.630?
A common citation format is "Alaska Statutes § 13.38.630" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 13.38.630 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.