The declaration of trust should provide that any distribution to security holders of income or capital assets of the trust will be accompanied by a written statement disclosing the source of the funds distributed. If, at the time of distribution, this information is not available, it should be provided that a written explanation of the relevant circumstances will accompany the distribution and the written statement disclosing the source of the funds distributed will be sent to the security holders not later than 60 days after the close of the fiscal year in which the distribution was made.

Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25140, Corporations Code.

History

1. Renumbering and amendment of Section 260.140.100 to Section 260.140.97, and renumbering and amendment of former Section 260.140.103 to Section 260.140.100 filed 1-28-82; effective thirtieth day thereafter (Register 82, No. 5).