California § 16362 - For purposes of this section,
Full text of California Public Contract Code - PCC § 16362 — For purposes of this section,, with citation guidance and answers to common questions.
§ 16362. For purposes of this section,
(a) For purposes of this section, âdepreciationâ means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year. (b) A fiduciary may transfer to principal a reasonable amount of the net money receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation: (1) Of the part of real property used or available for use by a beneficiary as a residence. (2) Of tangible personal property held or made available for the personal use or enjoyment of a beneficiary. (3) Under this section, to the extent the fiduciary accounts under either of the following: (A) Section 16349, for the asset. (B) Section 16342, for the business or other activity in which the asset is used. (c) An amount transferred to principal under this section need not be separately held.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 16362
What does Public Contract Code - PCC § 16362 cover?
Section 16362 ("For purposes of this section,") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 16362?
A common citation format is "Public Contract Code - PCC § 16362" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 16362 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.