TITLE 53 WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES

Section 12. (Revised Trust Code of 2010) Trusts, 53-12-1 through 53-12-506.

ARTICLE 17 GEORGIA PRINCIPAL AND INCOME ACT

53-12-390. Payment of interest on pecuniary amount.

1. If a beneficiary is to receive a pecuniary amount outright from a trust after an income interest ends, and no interest is provided for by the terms of the trust, the pecuniary amount usually bears interest at the legal rate after the expiration of 12 months from the date the income interest terminates.
2. The general rule in subsection (a) of this Code section shall be subservient to the equity and necessity of a particular case.

(Code 1981, §53-12-390, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)