RSA 564-C:4-410 · Liquidating Asset

564-C:4-410 Liquidating Asset. –

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(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 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 RSA 564-C:4-409, resources subject to RSA 564-C:4-411, timber subject to RSA 564-C:4-412, an activity subject to RSA 564-C:4-414, an asset subject to RSA 564-C:4-415, or any asset for which the trustee establishes a reserve for depreciation under RSA 564-C:5-503.

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(b)

A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal. Source. 2006, 320:68, eff. Aug. 19, 2006.

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