{"data":{"id":"us-nv/nrs-164.915","jurisdiction":"us-nv","citation":"NRS 164.915","heading":"Transfer of amount from income to principal to make certain principal disbursements.","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:\n(a) An amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs;\n(b) 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;\n(c) Disbursements made to prepare property for rental, including tenant allowances, leasehold improvements and broker’s commissions;\n(d) 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\n(e) Disbursements described in paragraph (g) of subsection 1 of NRS 164.905.\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 13 — GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS","CHAPTER 164 - ADMINISTRATION OF TRUSTS","MANAGEMENT AND INVESTMENT OF PROPERTY","Principal and Income (Uniform Act)"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-164.html#NRS164Sec915","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:33Z","sha256":"ce9bcc1c77f8308aa10173fb61b5fa33034dd6a1fa119dd7a537970f7e98138f","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-164.910","next":"us-nv/nrs-164.920"},"notice":"GroundRules: Original legal text. Not legal advice."}