reglab/statecodes huggingface dataset:
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 7 - Uniform Simultaneous Death Law › 58-717 Same; effective date.

58-717.
Same; effective date.
On the effective date of this act:
(1) An act done before the effective date in any proceeding and any accrued right is not impaired by this act. If a right is acquired, extinguished or barred upon the expiration of a prescribed period of time that has commenced to run by the provisions of any statute before the effective date, the provisions remain in force with respect to that right; and
(2) any rule of construction or presumption provided in this act applies to instruments executed and multiple-party accounts opened before the effective date unless there is a clear indication of a contrary intent.
History:
L. 1992, ch. 97, § 10; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 7 - Uniform Simultaneous Death Law › 58-718 Same; severability clause.

58-718.
Same; severability clause.
If any provision of this act or its application to any persons or circumstance is held invalid, the invalidity does not affect other provisions or applications of the act which can be given effect without the invalid provision or application, and to this end the provisions of this act are severable.
History:
L. 1992, ch. 97, § 11; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-813 Short title.

58-813.
Short title.
K.S.A. 58-813 to 58-818, inclusive, shall be known and may be cited as the self-service storage act.
History:
L. 1983, ch. 187, § 2; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-814 Definitions.

58-814.
Definitions.
In the self-service storage act the following words shall mean the following:
(a) "Self-service storage facility" means any real property used for renting or leasing individual storage spaces in which the occupants themselves customarily store and remove their own personal property on a self-service basis.
(b) "Rental agreement" means any written statement that establishes or modifies the terms, conditions or rules concerning the use and occupancy of a self-service storage facility.
(c) "Leased space" means the individual storage space at the self-service facility which is rented to an occupant pursuant to a rental agreement.
(d) "Occupant" means a person, a sublessee, successor or assign, entitled to the use of a leased space at a self-service storage facility under a rental agreement.
(e) "Operator" means the owner, operator, lessor or sublessor of a self-service storage facility, an agent or any other person authorized to manage the facility, except that "operator" does not mean a warehouseman, unless the operator issues a warehouse receipt, bill of lading, or other document of title for the personal property stored.
(f) "Personal property" means movable property, not affixed to land, and "personal property" includes, but is not limited to, goods, wares, merchandise, motor vehicles, watercraft, household items and furnishings.
(g) "Default" means the failure to perform on time any obligation or duty set forth in the rental agreement.
(h) "Last known address" means that address provided by the occupant in the rental agreement or the address provided by the occupant in a subsequent written notice of a change of address.
(i) "Late fee" means a fee or charge assessed by an operator for an occupant's failure to pay rent when due. A late fee is not interest on a debt, nor is a late fee a reasonable expense that the operator may incur in the course of collecting unpaid rent in enforcing the operator's lien right pursuant to K.S.A. 58-814, et seq., and amendments thereto, or enforcing any other remedy provided by statute or contract.
History:
L. 1983, ch. 187, § 3; L. 2005, ch. 113, § 1; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-815 Storage facility not to be used for residential purposes.

58-815.
Storage facility not to be used for residential purposes.
(a) An operator may not knowingly permit a leased space at a self-service storage facility to be used for residential purposes.
(b) An occupant may not use a leased space for residential purposes.
(c) An operator may enter leased space at times reasonably necessary.
History:
L. 1983, ch. 187, § 4; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-816 Operator to have lien on stored property; limitation on value of stored property for purposes of claim or action; rental agreement.

58-816. Operator to have lien on stored property; limitation on value of stored property for purposes of claim or action; rental agreement.
(a) The operator of a self-service storage facility has a lien on all personal property stored within each leased space for rent, labor or other charges, and for expenses reasonably incurred in its sale, as provided in the self-service storage act.
(b) For purposes of any claim or action against an operator involving a claim of damage to, or the loss of, personal property stored in a leased space pursuant to a rental agreement with the operator, the value of such personal property shall be limited by the maximum value of personal property permitted to be stored in the leased space under the terms of the rental agreement.
(c) The rental agreement shall contain a statement, in bold type, advising the occupant:
(1) Of the existence of the lien;
(2) that property stored in the leased space may be sold to satisfy the lien if the occupant is in default;
(3) that any proceeds from the sale of the property that remain after satisfaction of the lien will be paid to the state treasurer if unclaimed by the occupant within one year after sale of the property; and
(4) of the claim limitation pursuant to subsection (b).
(d) The rental agreement shall include a query of the occupant as to whether the occupant wishes to designate an alternative contact to receive notices required by the self-storage act and space to designate such alternative contact. Failure or refusal of an occupant to designate an alternative contact shall not affect an occupant's or operator's rights or remedies under the self-storage act or under any other provision of law. The alternative contact, if any, shall not have any rights to access the leased space or to the personal property stored in the leased space unless expressly stated otherwise in the rental agreement.
History:
L. 1983, ch. 187, § 5; L. 2021, ch. 27, § 1; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-816a Late fees; rental agreement provision required.

58-816a.
Late fees; rental agreement provision required.
(a) An operator may impose a reasonable late fee, as defined in K.S.A. 58-814, and amendments thereto, for each month an occupant does not pay rent when it is due, in an amount not to exceed $20 per month or 20% of the monthly rental amount, whichever is greater, for each late rental payment. An operator may set a late fee at a rate other than the rate provided for in this section if it is reasonable. The operator has the burden of proving that a higher late fee is reasonable.
(b) Any late fee charged by the operator shall be stated in the rental agreement. No late fee shall be collected unless it is provided for in the rental agreement, as defined in K.S.A. 58-814, and amendments thereto, or in an addendum to the rental agreement.
(c) The operator may recover all reasonable rent collection and lien enforcement expenses from the occupant in addition to any late fees imposed.
(d) This section shall be part of and supplemental to the self-service storage act.
History:
L. 2005, ch. 113, § 2; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-818 Care, custody and control of stored property vested in occupant; exceptions.

58-818.
Care, custody and control of stored property vested in occupant; exceptions.
Unless the rental agreement specifically provides otherwise and until a lien sale under the self-service storage act, the exclusive care, custody and control of all personal property stored in the leased self-service storage space remains vested in the occupant.
History:
L. 1983, ch. 187, § 7; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-819 Rental agreements entered into prior to July 1, 1983.

58-819.
Rental agreements entered into prior to July 1, 1983.
All rental agreements, entered into before July 1, 1983, which have not been extended or renewed after that date, shall remain valid and may be enforced or terminated in accordance with their terms or as permitted by any other statute or law of this state.
History:
L. 1983, ch. 187, § 8; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-820 Marital deduction gifts; effect and construction.

58-820.
Marital deduction gifts; effect and construction.
(a) As used in this section:
(1) "Marital deduction" means the federal estate tax deduction allowed for transfers under section 2056 of the federal internal revenue code or the federal gift tax deduction allowed for transfers under section 2523 of the federal internal revenue code; and
(2) "marital deduction gift" means a transfer of property that is intended to qualify for the marital deduction.
(b) If an instrument contains a marital deduction gift:
(1) The provisions of the instrument, including any power, duty, or discretionary authority given to a fiduciary, shall be construed to comply with the marital deduction provisions of the federal internal revenue code;
(2) the fiduciary shall not take any action or have any power that impairs the deduction as applied to the marital deduction gift;
(3) the marital deduction gift may be satisfied only with property that qualifies for the marital deduction; and
(4) with respect to marital deduction gifts which are under the terms of the instrument, whether determined by a formula or a fixed dollar amount, in a pecuniary amount that is to be satisfied by distribution of assets at their values, as finally determined for federal estate tax purposes and the instrument does not otherwise require that such bequest at time of funding either be of an aggregate fair market value at least equal to such pecuniary amount or that the assets distributed in satisfaction of such bequest be fairly representative of appreciation or depreciation, as the case may be, of all assets available to satisfy such bequest, then such fiduciary shall be required to distribute assets in satisfaction of such marital deduction gift which are fairly representative of the depreciation or appreciation, as the case may be, of all assets available to satisfy such bequest.
(c) The provisions of this section shall have no effect on the administration or interpretation of marital deduction gifts made prior to their effective date.
History:
L. 1994, ch. 269, § 6; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 8 - Miscellaneous Provisions › 58-821 Duty of care owed trespassers.

58-821. Duty of care owed trespassers.
(a) A possessor of any fee, reversionary or easement interest in real property, including an owner, lessee or other lawful occupant, owes a trespasser only the duty of care that existed at common law or in statute as of July 1, 2014.
(b) This section does not affect any immunities from or defenses to civil liability:
(1) Established by another section of the Kansas Statutes Annotated, and amendments thereto; or
(2) available at common law to which a possessor of real property may be entitled.
History:
L. 2014, ch. 69, § 1; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,103 Scope.

58-9a-103. Scope.
Except as otherwise provided in the terms of a trust or this act, this act applies to:
(a) A trust or estate; and
(b) a life estate or other term interest in which the interest of one or more persons will be succeeded by the interest of one or more other persons.
History:
L. 2021, ch. 63, § 3; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,104 Governing law.

58-9a-104. Governing law.
Except as otherwise provided in the terms of a trust or this act, this act applies when the state of Kansas is the principal place of administration of a trust or estate or the situs of property that is not held in a trust or estate and is subject to a life estate or other term interest described in K.S.A. 2023 Supp. 58-9a-103, and amendments thereto. By accepting the trusteeship of a trust having its principal place of administration in this state or by moving the principal place of administration of a trust to this state, the trustee submits to the application of this act to any matter within the scope of this act involving the trust.
History:
L. 2021, ch. 63, § 4; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,301 Definitions related to unitrusts.

58-9a-301. Definitions related to unitrusts.
In K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto:
(a) "Applicable value" means the amount of the net fair market value of a trust taken into account under K.S.A. 2023 Supp. 58-9a-307, and amendments thereto.
(b) "Express unitrust" means a trust for which, under the terms of the trust without regard to K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, income or net income must or may be calculated as a unitrust amount.
(c) "Income trust" means a trust that is not a unitrust.
(d) "Net fair market value of a trust" means the fair market value of the assets of the trust, less the noncontingent liabilities of the trust.
(e) "Unitrust" means a trust for which net income is a unitrust amount. The term includes an express unitrust.
(f) "Unitrust amount" means an amount computed by multiplying a determined value of a trust by a determined percentage. For a unitrust administered under a unitrust policy, the term means the applicable value, multiplied by the unitrust rate.
(g) "Unitrust policy" means a policy described in K.S.A. 2023 Supp. 58-9a-305 through 58-9a-309, and amendments thereto, and adopted under K.S.A. 2023 Supp. 58-9a-303, and amendments thereto.
(h) "Unitrust rate" means the rate used to compute the unitrust amount under subsection (f) for a unitrust administered under a unitrust policy.
History:
L. 2021, ch. 63, § 8; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,302 Application; duties and remedies.

58-9a-302. Application; duties and remedies.
(a) Except as otherwise provided in subsection (b), K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, apply to:
(1) An income trust, unless the terms of the trust expressly prohibit use K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, by a specific reference to K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, or an explicit expression of intent that net income not be calculated as a unitrust amount; and
(2) an express unitrust, except to the extent the terms of the trust explicitly:
(A) Prohibit use of K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, by a specific reference to K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto;
(B) prohibit conversion to an income trust; or
(C) limit changes to the method of calculating the unitrust amount.
(b) K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, do not apply to a trust described in section 170(f)(2)(B), 642(c)(5), 664(d), 2702(a)(3)(A)(ii) or (iii) or 2702(b) of the internal revenue code of 1986, 26 U.S.C. § 170(f)(2)(B), 642(c)(5), 664(d), 2702(a)(3)(A)(ii) or (iii) or 2702(b).
(c) An income trust to which K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, apply under subsection (a)(1) may be converted to a unitrust under K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, regardless of the terms of the trust concerning distributions. Conversion to a unitrust under K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, does not affect other terms of the trust concerning distributions of income or principal.
(d) K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, apply to an estate only to the extent a trust is a beneficiary of the estate. To the extent of the trust's interest in the estate, the estate may be administered as a unitrust, the administration of the estate as a unitrust may be discontinued, or the percentage or method used to calculate the unitrust amount may be changed, in the same manner as for a trust under K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto.
(e) K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, do not create a duty to take or consider action under K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, or to inform a beneficiary about the applicability of K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto.
(f) A fiduciary that in good faith takes or fails to take an action under K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, is not liable to a person affected by the action or inaction.
History:
L. 2021, ch. 63, § 9; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,304 Notice to fiduciaries.

58-9a-304. Notice to fiduciaries.
(a) A notice required by K.S.A. 2023 Supp. 58-9a-303(b)(2), and amendments thereto, must be sent in a manner authorized under K.S.A. 58a-109, and amendments thereto, to:
(1) The qualified beneficiaries determined under K.S.A. 58a-103(12), and amendments thereto, other than the attorney general; and
(2) each person that is granted a power over the trust by the terms of the trust, to the extent the power is exercisable when the person is not then serving as a trustee:
(A) Including a:
(i) Power over the investment, management or distribution of trust property or other matters of trust administration; and
(ii) power to appoint or remove a trustee or person described in this paragraph; and
(B) excluding a:
(i) Power of appointment;
(ii) power of a beneficiary over the trust, to the extent the exercise or nonexercise of the power affects the beneficial interest of the beneficiary or another beneficiary represented by the beneficiary under K.S.A. 58a-301 through 58a-305, and amendments thereto, with respect to the exercise or nonexercise of the power; and
(iii) power over the trust if the terms of the trust provide that the power is held in a nonfiduciary capacity and the power must be held in a nonfiduciary capacity to achieve a tax objective under the internal revenue code of 1986.
(b) The representation provisions of K.S.A. 58a-301 through 58a-305, and amendments thereto, apply to notice under this section.
(c) A person may consent in a record at any time to action proposed under K.S.A. 2023 Supp. 58-9a-303(b)(2), and amendments thereto. A notice required by K.S.A. 2023 Supp. 58-9a-303(b)(2), and amendments thereto, need not be sent to a person that consents under this subsection.
(d) A notice required by K.S.A. 2023 Supp. 58-9a-303(b)(2), and amendments thereto, must include:
(1) The action proposed under K.S.A. 2023 Supp. 58-9a-303(b)(2)* and amendments thereto;
(2) for a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under K.S.A. 2023 Supp. 58-9a-303(a)(1), and amendments thereto;
(3) for a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted K.S.A. 2023 Supp. 58-9a-303(a)(2), and amendments thereto;
(4) a statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;
(5) the date by which an objection under paragraph (4) must be received by the fiduciary, which must be at least 30 days after the date the notice is sent;
(6) the date on which the action is proposed to be taken and the date on which the action is proposed to take effect;
(7) the name and contact information of the fiduciary; and
(8) the name and contact information of a person that may be contacted for additional information.
History:
L. 2021, ch. 63, § 11; July 1.
* A comma should have been included.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,305 Unitrust policy; requirements.

58-9a-305. Unitrust policy; requirements.
(a) In administering a unitrust under K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, a fiduciary shall follow a unitrust policy adopted under K.S.A. 2023 Supp. 58-9a-303(a)(1) or (2), and amendments thereto, or amended or replaced under K.S.A. 2023 Supp. 58-9a-303(a)(2), and amendments thereto.
(b) A unitrust policy must provide:
(1) The unitrust rate or the method for determining the unitrust rate under K.S.A. 2023 Supp. 58-9a-306, and amendments thereto;
(2) the method for determining the applicable value under K.S.A. 2023 Supp. 58-9a-307, and amendments thereto; and
(3) the rules described in K.S.A. 2023 Supp. 58-9a-306 through 58-9a-309, and amendments thereto, that apply in the administration of the unitrust, whether the rules are:
(A) Mandatory, as provided in K.S.A. 2023 Supp. 58-9a-307(a) and 58-9a-308(a), and amendments thereto; or
(B) optional, as provided in K.S.A. 2023 Supp. 58-9a-306, 58-9a-307(b), 58-9a-308(b) and 58-9a-309(a), and amendments thereto, to the extent the fiduciary elects to adopt those rules.
History:
L. 2021, ch. 63, § 12; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,306 Same; unitrust rate.

58-9a-306. Same; unitrust rate.
(a) Except as otherwise provided in K.S.A. 2023 Supp. 58-9a-309(b)(1), and amendments thereto, a unitrust rate may be:
(1) A fixed unitrust rate; or
(2) a unitrust rate that is determined for each period using:
(A) A market index or other published data; or
(B) a mathematical blend of market indices or other published data over a stated number of preceding periods.
(b) Except as otherwise provided in K.S.A. 2023 Supp. 58-9a-309(b)(1), and amendments thereto, a unitrust policy may provide:
(1) A limit on how high the unitrust rate determined under subsection (a)(2) may rise;
(2) a limit on how low the unitrust rate determined under subsection (a)(2) may fall;
(3) a limit on how much the unitrust rate determined under subsection (a)(2) may increase over the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods;
(4) a limit on how much the unitrust rate determined under subsection (a)(2) may decrease below the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods; or
(5) a mathematical blend of any of the unitrust rates determined under subsection (a)(2) and paragraphs (1) through (4).
History:
L. 2021, ch. 63, § 13; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,307 Same; applicable value.

58-9a-307. Same; applicable value.
(a) A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:
(1) The frequency of valuing the asset, which need not require a valuation in every period; and
(2) the date for valuing the asset in each period in which the asset is valued.
(b) Except as otherwise provided in K.S.A. 2023 Supp. 58-9a-309(b)(2), and amendments thereto, a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:
(1) Obtaining an appraisal of an asset for which fair market value is not readily available;
(2) exclusion of specific assets or groups or types of assets;
(3) other exceptions or modifications of the treatment of specific assets or groups or types of assets;
(4) identification and treatment of cash or property held for distribution;
(5) use of:
(A) An average of fair market values over a stated number of preceding periods; or
(B) another mathematical blend of fair market values over a stated number of preceding periods;
(6) a limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:
(A) The corresponding applicable value for the preceding period; or
(B) a mathematical blend of applicable values over a stated number of preceding periods;
(7) a limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:
(A) The corresponding applicable value for the preceding period; or
(B) a mathematical blend of applicable values over a stated number of preceding periods;
(8) the treatment of accrued income and other features of an asset that affect value; and
(9) determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under paragraphs (1) through (8).
History:
L. 2021, ch. 63, § 14; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,308 Same; period required; optional standards.

58-9a-308. Same; period required; optional standards.
(a) A unitrust policy must provide the period used under K.S.A. 2023 Supp. 58-9a-306 and 58-9a-307, and amendments thereto. Except as otherwise provided in K.S.A. 2023 Supp. 58-9a-309(b)(3), and amendments thereto, the period may be:
(1) A calendar year;
(2) a 12-month period other than a calendar year;
(3) a calendar quarter;
(4) a three-month period other than a calendar quarter; or
(5) another period.
(b) Except as otherwise provided in K.S.A. 2023 Supp. 58-9a-309(b), and amendments thereto, a unitrust policy may provide standards for:
(1) Using fewer preceding periods under K.S.A. 2023 Supp. 58-9a-306(a)(2)(B), (b)(3) or (b)(4), and amendments thereto, if:
(A) The trust was not in existence in a preceding period; or
(B) market indices or other published data are not available for a preceding period;
(2) using fewer preceding periods under K.S.A. 2023 Supp. 58-9a-307(b)(5)(A) or (B), (6)(B) or (7)(B), and amendments thereto, if:
(A) The trust was not in existence in a preceding period; or
(B) fair market values are not available for a preceding period; and
(3) prorating the unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.
History:
L. 2021, ch. 63, § 15; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,309 Special tax benefits; other rules.

58-9a-309. Special tax benefits; other rules.
(a) A unitrust policy may:
(1) Provide methods and standards for:
(A) Determining the timing of distributions;
(B) making distributions in cash or in kind or partly in cash and partly in kind; or
(C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount;
(2) specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or
(3) provide other standards and rules the fiduciary determines serve the interests of the beneficiaries.
(b) If a trust qualifies for a special tax benefit or a fiduciary is not an independent person:
(1) The unitrust rate established under K.S.A. 2023 Supp. 58-9a-306, and amendments thereto, may not be less than 3% or more than 5%;
(2) the only provisions of K.S.A. 2023 Supp. 58-9a-307 that apply are K.S.A. 2023 Supp. 58-9a-307(a) and (b)(1), (4), (5)(A) and (9), and amendments thereto;
(3) the only period that may be used under K.S.A. 2023 Supp. 58-9a-308 is a calendar year under K.S.A. 2023 Supp. 58-9a-308(a)(1), and amendments thereto; and
(4) the only other provisions of K.S.A. 2023 Supp. 58-9a-308 that apply are K.S.A. 2023 Supp. 58-9a-308(b)(2)(A) and (3), and amendments thereto.
History:
L. 2021, ch. 63, § 16; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,402 Receipts from distribution from trust or estate.

58-9a-402. Receipts from distribution from trust or estate.
A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under K.S.A. 2023 Supp. 58-9a-301 through 58-9a-309, and amendments thereto, from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, K.S.A. 2023 Supp. 58-9a-401, 58-9a-415 or 58-9a-416, and amendments thereto, applies to a receipt from the trust.
History:
L. 2021, ch. 63, § 18; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,403 Accounting for business or other activity conducted by fiduciary.

58-9a-403. Accounting for business or other activity conducted by fiduciary.
(a) This section applies to a business or other activity conducted by a fiduciary if the fiduciary determines that it is in the interests of the beneficiaries to account separately for the business or other activity instead of:
(1) Accounting for the business or other activity as part of the fiduciary's general accounting records; or
(2) conducting the business or other activity through an entity described in K.S.A. 2023 Supp. 58-9a-401(a)(2)(A), and amendments thereto.
(b) A fiduciary may account separately under this section for the transactions of a business or other activity, whether or not assets of the business or other activity are segregated from other assets held by the fiduciary.
(c) A fiduciary that accounts separately under this section for a business or other activity:
(1) May determine:
(A) The extent to which the net cash receipts of the business or other activity must be retained for:
(i) Working capital;
(ii) the acquisition or replacement of fixed assets; and
(iii) other reasonably foreseeable needs of the business or other activity; and
(B) the extent to which the remaining net cash receipts are accounted for as principal or income in the fiduciary's general accounting records for the trust;
(2) may make a determination under paragraph (1) separately and differently from the fiduciary's decisions concerning distributions of income or principal; and
(3) shall account for the net amount received from the sale of an asset of the business or other activity, other than a sale in the ordinary course of the business or other activity, as principal in the fiduciary's general accounting records for the trust, to the extent the fiduciary determines that the net amount received is no longer required in the conduct of the business or other activity.
(d) Activities for which a fiduciary may account separately under this section include:
(1) Retail, manufacturing, service and other traditional business activities;
(2) farming;
(3) raising and selling livestock and other animals;
(4) managing rental properties;
(5) extracting minerals, water and other natural resources;
(6) growing and cutting timber;
(7) an activity to which K.S.A. 2023 Supp. 58-9a-414, 58-9a-415 or 58-9a-416, and amendments thereto, applies; and
(8) any other business conducted by the fiduciary.
History:
L. 2021, ch. 63, § 19; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,404 Principal receipts.

58-9a-404. Principal receipts.
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. 2023 Supp. 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. 2023 Supp. 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. 2023 Supp. 58-9a-408 through 58-9a-416, and amendments thereto.
History:
L. 2021, ch. 63, § 20; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,405 Receipts from rental property.

58-9a-405. Receipts from rental property.
To the extent a fiduciary does not account for the management of rental property as a business under K.S.A. 2023 Supp. 58-9a-403, and amendments thereto, the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods:
(a) Must be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this act; and
(b) is not allocated to income or available for distribution to a beneficiary until the fiduciary's contractual obligations have been satisfied with respect to that amount.
History:
L. 2021, ch. 63, § 21; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,406 Receipt from obligation to be paid in money.

58-9a-406. Receipt from obligation to be paid in money.
(a) This section does not apply to an obligation to which K.S.A. 2023 Supp. 58-9a-409, 58-9a-410, 58-9a-411, 58-9a-412, 58-9a-414, 58-9a-415 or 58-9a-416, and amendments thereto, applies.
(b) A fiduciary shall allocate to income, without provision for amortization of premium, an amount received as interest on an obligation to pay money to the fiduciary, including an amount received as consideration for prepaying principal.
(c) A fiduciary shall allocate to principal an amount received from the sale, redemption or other disposition of an obligation to pay money to the fiduciary. A fiduciary shall allocate to income the increment in value of a bond or other obligation for the payment of money bearing no stated interest but payable or redeemable, at maturity or another future time, in an amount that exceeds the amount in consideration of which it was issued.
History:
L. 2021, ch. 63, § 22; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,407 Receipts from insurance policy or contract.

58-9a-407. Receipts from insurance policy or contract.
(a) This section does not apply to a contract to which K.S.A. 2023 Supp. 58-9a-409, and amendments thereto, applies.
(b) Except as otherwise provided in subsection (c), a fiduciary shall allocate to principal the proceeds of a life insurance policy or other contract received by the fiduciary as beneficiary, including a contract that insures against damage to, destruction of or loss of title to an asset. The fiduciary shall allocate dividends on an insurance policy to income to the extent premiums on the policy are paid from income and to principal to the extent premiums on the policy are paid from principal.
(c) A fiduciary shall allocate to income proceeds of a contract that insures the fiduciary against loss of:
(1) Occupancy or other use by a current income beneficiary;
(2) income; or
(3) subject to K.S.A. 2023 Supp. 58-9a-403, and amendments thereto, profits from a business.
History:
L. 2021, ch. 63, § 23; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,408 Insubstantial allocation not required.

58-9a-408. Insubstantial allocation not required.
(a) If a fiduciary determines that an allocation between income and principal required by K.S.A. 2023 Supp. 58-9a-409, 58-9a-410, 58-9a-411, 58-9a-412 or 58-9a-415, and amendments thereto, is insubstantial, the fiduciary may allocate the entire amount to principal, unless K.S.A. 2023 Supp. 58-9a-203(e), and amendments thereto, applies to the allocation.
(b) A fiduciary may presume an allocation is insubstantial under subsection (a) if:
(1) The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10%; and
(2) the asset producing the receipt to be allocated has a fair market value less than 10% of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.
(c) The power to make a determination under subsection (a) may be:
(1) Exercised by a co-fiduciary in the manner described in K.S.A. 2023 Supp. 58-9a-203(f), and amendments thereto; or
(2) released or delegated for a reason described in K.S.A. 2023 Supp. 58-9a-203(g), and amendments thereto, and in the manner described in K.S.A. 2023 Supp. 58-9a-203(h), and amendments thereto.
History:
L. 2021, ch. 63, § 24; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,410 Receipts produced by a liquidating asset.

58-9a-410. Receipts produced by a liquidating asset.
(a) In this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time. The term includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance.
(b) This section does not apply to a receipt subject to K.S.A. 2023 Supp. 58-9a-401, 58-9a-409, 58-9a-411, 58-9a-412, 58-9a-414, 58-9a-415, 58-9a-416 or 58-9a-503, and amendments thereto.
(c) A fiduciary shall allocate:
(1) To income:
(A) A receipt produced by a liquidating asset, to the extent the receipt does not exceed 4% of the value of the asset; or
(B) if the fiduciary cannot determine the value of the asset, 10% of the receipt; and
(2) to principal, the balance of the receipt.
History:
L. 2021, ch. 63, § 26; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,411 Receipts from interest in minerals, water and other natural resources.

58-9a-411. Receipts from interest in minerals, water and other natural resources.
(a) To the extent a fiduciary does not account for a receipt from an interest in minerals, water or other natural resources as a business under K.S.A. 2023 Supp. 58-9a-403, and amendments thereto, the fiduciary shall allocate the receipt:
(1) To income, to the extent received:
(A) As delay rental or annual rent on a lease;
(B) as a factor for interest or the equivalent of interest under an agreement creating a production payment; or
(C) on account of an interest in renewable water;
(2) to principal, if received from a production payment, to the extent paragraph (1)(B) does not apply; or
(3) between income and principal equitably, to the extent received:
(A) On account of an interest in non-renewable water;
(B) as a royalty, shut-in-well payment, take-or-pay payment or bonus; or
(C) from a working interest or any other interest not provided for in paragraph (1) or (2) or subparagraph (A) or (B).
(b) This section applies to an interest owned or held by a fiduciary whether or not a settlor was extracting minerals, water or other natural resources before the fiduciary owned or held the interest.
(c) An allocation of a receipt under subsection (a)(3) is presumed to be equitable if the amount allocated to principal is equal to the amount allowed by the internal revenue code of 1986 as a deduction for depletion of the interest.
(d) If a fiduciary owns or holds an interest in minerals, water or other natural resources before July 1, 2021, the fiduciary may allocate receipts from the interest as provided in this section or in the manner used by the fiduciary before July 1, 2021. If the fiduciary acquires an interest in minerals, water or other natural resources on or after July 1, 2021, the fiduciary shall allocate receipts from the interest as provided in this section.
History:
L. 2021, ch. 63, § 27; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,412 Receipts from sale of timber.

58-9a-412. Receipts from sale of timber.
(a) To the extent a fiduciary does not account for receipts from the sale of timber and related products as a business under K.S.A. 2023 Supp. 58-9a-403, and amendments thereto, the fiduciary shall allocate the net receipts:
(1) To income, to the extent the amount of timber cut from the land does not exceed the rate of growth of the timber;
(2) to principal, to the extent the amount of timber cut from the land exceeds the rate of growth of the timber or the net receipts are from the sale of standing timber;
(3) between income and principal if the net receipts are from the lease of land used for growing and cutting timber or from a contract to cut timber from land, by determining the amount of timber cut from the land under the lease or contract and applying the rules in paragraphs (1) and (2); or
(4) to principal, to the extent advance payments, bonuses and other payments are not allocated under paragraph (1), (2) or (3).
(b) In determining net receipts to be allocated under subsection (a), a fiduciary shall deduct and transfer to principal a reasonable amount for depletion.
(c) This section applies to land owned or held by a fiduciary whether or not a settlor was cutting timber from the land before the fiduciary owned or held the property.
(d) If a fiduciary owns or holds an interest in land used for growing and cutting timber before July 1, 2021, the fiduciary may allocate net receipts from the sale of timber and related products as provided in this section or in the manner used by the fiduciary before July 1, 2021. If the fiduciary acquires an interest in land used for growing and cutting timber on or after July 1, 2021, the fiduciary shall allocate net receipts from the sale of timber and related products as provided in this section.
History:
L. 2021, ch. 63, § 28; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,413 Marital deduction property not productive of income.

58-9a-413. Marital deduction property not productive of income.
(a) If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor's spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not provide the spouse with sufficient income from or use of the trust assets to qualify for the deduction, to:
(1) Make property productive of income;
(2) convert property to property productive of income within a reasonable time; or
(3) exercise the power to adjust under K.S.A. 2023 Supp. 58-9a-203, and amendments thereto.
(b) The trustee may decide which action or combination of actions in subsection (a) to take.
History:
L. 2021, ch. 63, § 29; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,414 Receipts from derivative or option.

58-9a-414. Receipts from derivative or option.
(a) In this section, "derivative" means a contract, instrument, other arrangement or combination of contracts, instruments or other arrangements, the value, rights and obligations of which are, in whole or in part, dependent on or derived from an underlying tangible or intangible asset, group of tangible or intangible assets, index or occurrence of an event. The term includes stocks, fixed income securities and financial instruments and arrangements based on indices, commodities, interest rates, weather-related events and credit-default events.
(b) To the extent a fiduciary does not account for a transaction in derivatives as a business under K.S.A. 2023 Supp. 58-9a-403, and amendments thereto, the fiduciary shall allocate 10% of receipts from the transaction and 10% of disbursements made in connection with the transaction to income and the balance to principal.
(c) Subsection (d) applies if:
(1) A fiduciary:
(A) Grants an option to buy property from a trust, whether or not the trust owns the property when the option is granted;
(B) grants an option that permits another person to sell property to the trust; or
(C) acquires an option to buy property for the trust or an option to sell an asset owned by the trust; and
(2) the fiduciary or other owner of the asset is required to deliver the asset if the option is exercised.
(d) If this subsection applies, the fiduciary shall allocate 10% to income and the balance to principal of the following amounts:
(1) An amount received for granting the option;
(2) an amount paid to acquire the option; and
(3) gain or loss realized on the exercise, exchange, settlement, offset, closing or expiration of the option.
History:
L. 2021, ch. 63, § 30; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,415 Receipts from asset-backed security.

58-9a-415. Receipts from asset-backed security.
(a) Except as otherwise provided in subsection (b), a fiduciary shall allocate to income a receipt from or related to an asset-backed security, to the extent the payor identifies the payment as being from interest or other current return, and to principal the balance of the receipt.
(b) If a fiduciary receives one or more payments in exchange for part or all of the fiduciary's interest in an asset-backed security, including a liquidation or redemption of the fiduciary's interest in the security, the fiduciary shall allocate to income 10% of receipts from the transaction and 10% of disbursements made in connection with the transaction, and to principal the balance of the receipts and disbursements.
History:
L. 2021, ch. 63, § 31; July 1.
2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 9a - Uniform Fiduciary Income And Principal Act › 58-9a,416 Receipts from other financial instrument or arrangement.

58-9a-416. Receipts from other financial instrument or arrangement.
A fiduciary shall allocate receipts from or related to a financial instrument or arrangement not otherwise addressed by this act. The allocation must be consistent with K.S.A. 2023 Supp. 58-9a-414 and 58-9a-415, and amendments thereto.
History:
L. 2021, ch. 63, § 32; July 1.