§179.201. How does the Secretary distribute principal and income to the holder of a life estate without regard to waste?
25 C.F.R. § 179.201
The Secretary must distribute all income, including bonuses and royalties, to the life estate holder to the exclusion of any holders of remainder interests.
Notes, amendments, and revision history
Authority
Authority: 86 Stat. 530; 86 Stat. 744; 94 Stat. 537; 96 Stat. 2515; 25 U.S.C. 2, 9, 372, 373, 487, 607, and 2201 et seq.
Source
Source: 73 FR 67286, Nov. 13, 2008, unless otherwise noted.