South Dakota Codified Laws 55-1A-28. Creation of reserves
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A trustee may create reserves out of income for depreciation, obsolescence, or amortization, or for the depletion of mineral or timber properties.
Terms Used In South Dakota Codified Laws 55-1A-28
- Amortization: Paying off a loan by regular installments.
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1979, ch 336, § 28.