As used in this chapter:

1. (1) "Income beneficiary" means the person to whom income is presently payable or for whom it is accumulated for distribution as income.
2. (2) "Inventory value" means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust.
3. (3) "Remainderman" means the person entitled to principal, including income that has been accumulated and added to principal.

History.--s. 1, ch. 74-106; s. 13, ch. 75-221; s. 2, ch. 77-254.

Note.--Created from former s. 690.02.