Oklahoma § 60-175.404
Full text of Oklahoma Oklahoma Statutes § 60-175.404, with citation guidance and answers to common questions.
§ 60-175.404.
Principal receipts.
PRINCIPAL RECEIPTS
A trustee shall allocate to principal:
1. To the extent not allocated to income under this act, 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 this article;
3. Amounts recovered from third parties to reimburse the trust
because of disbursements described in paragraph 7 of subsection A of
Section 26 of this act 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;
Oklahoma Statutes - Title 60. Property
5. Net income received in an accounting period during which
there is no beneficiary to whom a trustee may or must distribute
income; and
6. Other receipts as provided in Part 3 of this article.
Added by Laws 1998, c. 115, § 13, eff. Nov. 1, 1998.
Frequently Asked Questions About Oklahoma § 60-175.404
What does Oklahoma Statutes § 60-175.404 cover?
Section 60-175.404 is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. 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 Oklahoma § 60-175.404?
A common citation format is "Oklahoma Statutes § 60-175.404" (Oklahoma). 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 Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 60-175.404 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma 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 Oklahoma.