Wherever a charge that is properly allocable to income has been made or is expected to be made from principal because of the unusually large nature of the charge or otherwise, the trustee may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements.
History. Code 1981, § 53-12-453 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.
Structure Georgia Code
Title 53 - Wills, Trusts, and Administration of Estates
Article 17 - Georgia Principal and Income Act
Part 5 - Allocation of Disbursements During Administration of Trust
§ 53-12-450. Disbursements From Income
§ 53-12-451. Disbursements From Principal
§ 53-12-452. Transfers From Income to Principal for Depreciation
§ 53-12-453. Transfers From Income to Reimburse Principal
§ 53-12-455. Adjustments Between Principal and Income Because of Taxes