Virginia § 64.2-1067 - Reimbursement of income from principal
Full text of Virginia Code of Virginia § 64.2-1067 — Reimbursement of income from principal, with citation guidance and answers to common questions.
§ 64.2-1067. Reimbursement of income from principal
A. If a fiduciary makes or expects to make an income disbursement described in subsection B, the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income.
B. To the extent the fiduciary has not been and does not expect to be reimbursed by a third party, income disbursements to which subsection A applies include:
1. An amount chargeable to principal but paid from income because principal is illiquid;
2. A disbursement made to prepare property for sale, including improvements and commissions; and
3. A disbursement described in subsection A of § 64.2-1065.
C. If an asset whose ownership gives rise to an income disbursement becomes subject to a successive interest after an income interest ends, the fiduciary may continue to make transfers under subsection A.
2022, c. 354.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 64.2-1067
What does Code of Virginia § 64.2-1067 cover?
Section 64.2-1067 ("Reimbursement of income from principal") is part of the Code of Virginia, the codified statutory law of Virginia. 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 Virginia § 64.2-1067?
A common citation format is "Code of Virginia § 64.2-1067" (Virginia). 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 Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 64.2-1067 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia 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 Virginia.