75A-5-410. Receipts normally apportioned -- Liquidating asset.
(1) As used in this section: "Liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time. "Liquidating asset" includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance.
(2) This section does not apply to a receipt subject to Section,,,,,,, or. 75A-5-401 75A-5-409 75A-5-411 75A-5-412 75A-5-414 75A-5-415 75A-5-416 75A-5-503
(3) A fiduciary shall allocate: to income: a receipt produced by a liquidating asset, to the extent the receipt does not exceed 3% of the value of the asset; or if the fiduciary cannot determine the value of the asset, 10% of the receipt; and to principal, the balance of the receipt.