Construing the governing instrument
Sec. 24. After the income trust is converted to a total return
unitrust under this chapter, both of the following apply:
(1) The term "income" in the governing instrument means the
unitrust amount plus any income from the trust assets excluded
from the determination of net fair market value under sections
18 and 19 of this chapter.
(2) The trustee shall make regular distributions in accordance
with the governing instrument construed in accordance with this
chapter.
As added by P.L.3-2003, SEC.2.
Last modified: May 27, 2006