Idaho Statutes
pecnv.out

TITLE 68
TRUSTS AND FIDUCIARIES
CHAPTER 10
UNIFORM PRINCIPAL AND INCOME ACT
PART 4.
ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST
68-10-410.  Liquidating asset. (a) In this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one (1) year under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include a payment subject to section 68-10-409, Idaho Code, resources subject to section 68-10-411, Idaho Code, timber subject to section 68-10-412, Idaho Code, an activity subject to section 68-10-414, Idaho Code, an asset subject to section 68-10-415, Idaho Code, or any asset for which the trustee establishes a reserve for depreciation under section 68-10-503, Idaho Code.
(b)  A trustee shall allocate to income ten percent (10%) of the receipts from a liquidating asset and the balance to principal.

History:
[68-10-410, added 2001, ch. 261, sec. 2, p. 955.]


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