72-34-442 Receipts from liquidating assets -- allocation

72-34-442 . Receipts from liquidating assets -- allocation. (1) 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 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 72-34-441 , natural resources subject to 72-34-443 , timber subject to 72-34-444 , a derivative or option subject to 72-34-446 , an asset subject to 72-34-447 , or any asset for which the trustee establishes a reserve for depreciation under 72-34-450 . (2) A trustee shall allocate to income 85% from a liquidating asset and the balance to principal.