637.402  Distribution from trust or estate.
  1.  Subject to the terms of a recipient trust, 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 shall be allocated to income.
  2.  An amount received as a distribution of principal from such a trust or estate shall be allocated to principal.
  3.  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, section 637.401 applies to a receipt from the trust.
99 Acts, ch 124, §10