2005 Idaho Code - 68-10-410 — LIQUIDATING ASSET

                                  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.