[§557A-503] Transfers from income to principal for depreciation. (a) As used in this section, "depreciation" means a reduction in value of a fixed asset having a useful life of more than one year, due to wear, tear, decay, corrosion, or gradual obsolescence.
(b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but a transfer may not be made for depreciation:
(c) An amount transferred to principal need not be held as a separate fund. [L 2000, c 191, pt of §1]