1. 1. Distributions made from ordinary income by a regulated investment company or by a trust qualifying and electing to be taxed under federal law as a real estate investment trust are income. All other distributions made by the company or trust, including distributions from capital gains, depreciation, or depletion, whether in the form of cash or an option to take new stock or cash or an option to purchase additional shares, are principal.
2. 2. The provisions of sections 456.012 and 456.013 shall apply to any receipts received after October 13, 1969, by any trust, guardianship or decedent's estate whether established before or after October 13, 1969, and whether the asset involved was acquired before or after October 13, 1969.

(L. 1969 S.B. 107 §§ 2, 3)