§ 11-A-3.3 Apportionment when income interest ends

(a) In this section, "undistributed income" means net income received
on or before the date on which an income interest ends. The term does
not include an item of income or expense that is due or accrued or net
income that has been added or is required to be added to principal under
the terms of the trust.

(b) When a mandatory income interest ends, the trustee shall pay to a
mandatory income beneficiary who survives that date, or the estate of a
deceased mandatory income beneficiary whose death causes the interest to
end, the beneficiary's share of the undistributed income that is not
disposed of under the terms of the trust unless the beneficiary has an
unqualified power to revoke more than five percent of the trust
immediately before the income interest ends. In the latter case, the
undistributed income from the portion of the trust that may be revoked
must be added to principal.

(c) When a trustee's obligation to pay a fixed annuity or a fixed
fraction of the value of the trust's assets ends, the trustee shall
prorate the final payment if and to the extent required by applicable
law to accomplish a purpose of the trust or its settlor relating to
income, gift, estate, or other tax requirements.