Examples of Current income beneficiary in a sentence
Current income beneficiary means an individual who, at the time of application for a permit, is entitled to income (whether income exists or not) from the trust that owns the land the applicant wishes to hunt with no condition precedent (such as surviving another person, reaching a certain age, etc.) other than the trustee distributing the income, and is listed by name in the trust documents as an income beneficiary.
Current income beneficiary" means a beneficiary to which a fiduciary may distribute net income, [whether] even if the fiduciary also may distribute principal to the beneficiary.