California Law (Last Updated: March 4, 2014) |
Probate Code - PROB |
Division 9. TRUST LAW |
Part 4. TRUST ADMINISTRATION |
Chapter 3. Uniform Principal and Income Act |
ARTICLE 1. Short Title and Definitions |
Section 16326.
Latest version.
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"Income interest" means the right of an income beneficiary to receive all or part of net income, whether the trust requires it to be distributed or authorizes it to be distributed in the trustee's discretion.
(Added by Stats. 1999, Ch. 145, Sec. 5. Effective January 1, 2000.)