A fiduciary shall allocate to principal: (a) To the extent not allocated to income under this act, an asset received from: (1) An individual during the individual's lifetime; (2) an estate; (3) a trust on termination of an income interest; or (4) a payor under a contract naming the fiduciary as beneficiary; (b) except as otherwise provided in K.S.A. 58-9a-401 through 58-9a-416, and amendments thereto, money or other property received from the sale, exchange, liquidation or change in form of a principal asset; (c) an amount recovered from a third party to reimburse the fiduciary because of a disbursement described in K.S.A. 58-9a-502(a), and amendments thereto, or for another reason to the extent not based on loss of income; (d) proceeds of property taken by eminent domain, except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period; (e) net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income; and (f) other receipts as provided in K.S.A. 58-9a-408 through 58-9a-416, and amendments thereto.
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