116.204 – TRANSFERS FROM INCOME TO REIMBURSE PRINCIPAL.
Texas Property Code § 116.204
Summary
This law allows a trustee to transfer funds from income to principal to cover or reserve for future principal disbursements. It is applicable when a trustee anticipates making principal disbursements and ensures that the principal remains adequately funded.
Trustees can transfer income to principal for disbursements.
Transfers can be made over multiple accounting periods.
Ensures principal is reimbursed or reserved for future needs.
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In simple terms: Learn about Texas's TRANSFERS FROM INCOME TO REIMBURSE PRINCIPAL. law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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