Section 75A-5-410 - Receipts normally apportioned - Liquidating asset(1) As used in this section: (a) "Liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time.(b) "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 75A-5-401, 75A-5-409, 75A-5-411, 75A-5-412, 75A-5-414, 75A-5-415, 75A-5-416, or 75A-5-503.(3) A fiduciary shall allocate: (a) to income: (i) a receipt produced by a liquidating asset, to the extent the receipt does not exceed 3% of the value of the asset; or(ii) if the fiduciary cannot determine the value of the asset, 10% of the receipt; and(b) to principal, the balance of the receipt.Renumbered from § 22-3-410 and amended by Chapter 364, 2024 General Session ,§ 155, eff. 9/1/2024.Repealed and reenacted by Chapter 495, 2019 General Session ,§ 26, eff. 7/1/2020.Enacted by Chapter 285, 2004 General Session.