Massachusetts General Laws ch. 203D sec. 28 – Transfers from income to reimburse principal
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Section 28. If an amount chargeable to income is unusually large, a trustee may pay all or any part of such amount from principal and shall reimburse principal by transfers from income over a reasonable period of time.
Terms Used In Massachusetts General Laws ch. 203D sec. 28
- Trustee: A person or institution holding and administering property in trust.