{"data":{"id":"us-nd/n.d.-cent.-code-59-04.2-27","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 59-04.2-27","heading":"(504) Transfers from income to reimburse principal","body":"1.If a trustee makes or expects to make a principal disbursement described in this section, 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.\n2.Principal disbursements to which subsection 1 applies include the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a third party:\na.An amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs;\nb.A capital improvement to a principal asset, whether in the form of changes to an existing asset or the construction of a new asset, including special assessments;\nc.Disbursements made to prepare property for rental, including tenant allowances, leasehold improvements, and broker's commissions;\nd.Periodic payments on an obligation secured by a principal asset to the extent that the amount transferred from income to principal for depreciation is less than the periodic payments; and\ne.Disbursements described in subdivision g of subsection 1 of section 59-04.2-25.\n3.If the asset whose ownership gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a trustee may continue to transfer amounts from income to principal as provided in subsection 1.","path":["Title 59 Trusts","Chapter 59-04.2 Uniform Principal And Income Act (1997)"],"source_url":"https://ndlegis.gov/cencode/t59c04-2.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"e5535d733ba5d7449d010c0f48b87aad4af1e5869ae6e461dc377c955baab21f","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-59-04.2-26","next":"us-nd/n.d.-cent.-code-59-04.2-28"},"notice":"GroundRules: Original legal text. Not legal advice."}