AS 13.38.800

Mandatory disbursements from income

Known as the Alaska Principal and Income Act

The act spans §§ 13–13 (56 sections).

A trustee shall make the following disbursements from income: (1) interest, except interest on taxes described in AS 13.38.810(a)(7);

(2) ordinary repairs;

(3) real estate and other regularly recurring taxes assessed against principal;

(4) recurring premiums on fire or other insurance covering the loss of a principal asset or the loss of income from or use of the asset.

Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.