In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one (1) year.
A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:
An amount transferred to principal need not be held as a separate fund.
Structure Mississippi Code
Chapter 17 - Mississippi Principal and Income Act of 2013
Article 5 - Allocation of Disbursements During Administration of Trust
§ 91-17-501. Disbursements from income
§ 91-17-502. Disbursements from principal
§ 91-17-503. Transfers from income to principal for depreciation
§ 91-17-504. Transfers from income to reimburse principal
§ 91-17-506. Adjustments between principal and income because of taxes