This chapter shall apply to all transactions by which a principal was established without the interposition of a trust on or after September 13, 1941, or is hereafter so established. Transactions by which a principal is held in trust are governed by Chapter 3 (commencing with Section 16300) of Part 4 of Division 9 of the Probate Code.
Cal. Civ. Code § 731.02
Legal Estates Principal and Income Law
Known as the Legal Estates Principal and Income Law
The act spans §§ 731 to 731.15 (16 sections).
Amended by Stats. 1986, Ch. 820, Sec. 3
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.