Md. Code, Estates and Trusts § 15-509

Md. Code, Estates and Trusts § 15-509
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. (b) If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, § 15–508 or § 15–522 of this subtitle applies to a receipt from the trust.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=get&section=15-509&enactments=falseFetched: 10/17/2026

Starting a business in Maryland? Maryland LLC guide: costs and requirements