Idaho Code § 15-1-109
This is the official text of Idaho Code § 15-1-109, part of Idaho’s Code — part of the compiled statutory law of Idaho, published by the state as "Code." Browse the sections below, each linked to its official government source.
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15-1-109 SATISFACTION OF PECUNIARY DEVISES OR TRANSFERS BY DISTRIBUTION IN KIND.
Official statutory text
PART 1.
SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS
15-1-109. Satisfaction of pecuniary devises or transfers by distribution in kind. (1) Whenever a personal representative or a trustee satisfies a pecuniary devise or transfer in trust by a distribution in kind with assets at their value for federal estate tax purposes, such fiduciary, in order to implement such a devise or transfer in trust, must, unless the governing instrument provides otherwise, distribute assets, including cash, fairly representative of appreciation or depreciation in all of the property so available for distribution in satisfaction of such pecuniary devise or transfer.
(b) Subsection (1) of this section is not intended to imply that the present law of this state, relating to selection of assets by fiduciaries in the circumstances herein described, has been otherwise than as set forth herein, but is a statement of the fiduciary principles applicable to such fiduciaries.
History:
[15-1-109, added 1999, ch. 306, sec. 1, p. 763.]
SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS
15-1-109. Satisfaction of pecuniary devises or transfers by distribution in kind. (1) Whenever a personal representative or a trustee satisfies a pecuniary devise or transfer in trust by a distribution in kind with assets at their value for federal estate tax purposes, such fiduciary, in order to implement such a devise or transfer in trust, must, unless the governing instrument provides otherwise, distribute assets, including cash, fairly representative of appreciation or depreciation in all of the property so available for distribution in satisfaction of such pecuniary devise or transfer.
(b) Subsection (1) of this section is not intended to imply that the present law of this state, relating to selection of assets by fiduciaries in the circumstances herein described, has been otherwise than as set forth herein, but is a statement of the fiduciary principles applicable to such fiduciaries.
History:
[15-1-109, added 1999, ch. 306, sec. 1, p. 763.]
Status: in_force · Read it on the official government site
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