# Estates and Trusts (GET)

## Title 15. Fiduciaries

### Subtitle 5. Maryland Uniform Principal and Income Act

#### Section 15-509

(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, Sec. 15-508 or Sec. 15-522 of this subtitle applies to a receipt from the trust.

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Md. Code Ann., Est. & Trusts (as displayed at mgaleg.maryland.gov, October 16, 2026)