N.Y. Comp. Codes R. & Regs. tit. 10 § 441.31

Current through Register Vol. 46, No. 53, December 31, 2024

Section 441.31 - Amortization

(a) The gradual extinguishment of any amount over a period of time: as, the retirement of a debt by serial payments to the creditor or into a sinking fund; the periodic writedown of an insurance premium or a bond premium.

(b) A reduction of the book value of a fixed asset; a generic term for the depreciation, depletion, writedown or writeoff of a limited-life asset.

N.Y. Comp. Codes R. & Regs. Tit. 10 § 441.31