RSA 564-C:4-407A · Charitable Remainder Unitrusts

564-C:4-407A Charitable Remainder Unitrusts. –

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(a)

In the case of a charitable remainder unitrust within the meaning of section 664(d)(2) of the Internal Revenue Code, in which the trust instrument contains an income exception described in section 664(d)(3) of the Internal Revenue Code, the trustee shall allocate receipts from each of the following assets in accordance with subsection (b), notwithstanding any other provision of this chapter:

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(1)

an entity within the meaning of RSA 564-C:4-401(a);

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(2)

an obligation to pay money to the trustee, including an obligation whose purchase price or value when it is acquired is less than its value at maturity;

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(3)

a life insurance policy, unless the insured has died;

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(4)

a private or commercial annuity, unless the payments within the meaning of RSA 564-C:4-409(a), have commenced;

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(5)

a derivative within the meaning of RSA 564-C:4-414(a), except to the extent that the trustee accounts under RSA 564-C:4-403 for a transaction in that derivative; or

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(6)

an asset-backed security within the meaning of RSA 564-C:4-415(a).

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(b)

A trustee shall allocate to income the amount in excess of the asset's purchase price or the asset's value when it was acquired. A trustee shall allocate to principal the balance of the money or other property received.

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(c)

This section shall apply to any charitable remainder unitrust created before, on, or after the effective date of this section. Source. 2014, 195:34, eff. July 1, 2014. Part 3 Receipts Normally Apportioned

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