(a) If a fiduciary determines that an allocation between income and principal required by K.S.A. 58-9a-409 , 58-9a-410 , 58-9a-411 , 58-9a-412 or 58-9a-415 , and amendments thereto, is insubstantial, the fiduciary may allocate the entire amount to principal, unless K.S.A. 58-9a-203 (e), and amendments thereto, applies to the allocation.
(b) A fiduciary may presume an allocation is insubstantial under subsection (a) if:
(1) The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10%; and
(2) the asset producing the receipt to be allocated has a fair market value less than 10% of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.
(c) The power to make a determination under subsection (a) may be:
(1) Exercised by a co-fiduciary in the manner described in K.S.A. 58-9a-203 (f), and amendments thereto; or
(2) released or delegated for a reason described in K.S.A. 58-9a-203 (g), and amendments thereto, and in the manner described in K.S.A. 58-9a-203 (h), and amendments thereto.