Article

Uniform Principal and Income Act, Section 5: Constitutionality of Its Retroactive Application

Author: Lawrence P. King (New York University School of Law)

  • Uniform Principal and Income Act, Section 5: Constitutionality of Its Retroactive Application

    Article

    Uniform Principal and Income Act, Section 5: Constitutionality of Its Retroactive Application

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Abstract

The allocation of stock dividends received by a trustee to either income or corpus has been a recurring problem perplexing the courts for many years. The competing principles, designated as the Pennsylvania, Massachusetts, and Kentucky rules have each gained judicial recognition, but not all problems created by the declaration of stock dividends have been solved.

Keywords: Dividends, Trusts and trustees

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Published on
1960-01-01

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