Section 22-3-410 - [Renumbered Effective 9/1/2024] Receipts normally apportioned - Liquidating asset(1) 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 22-3-401, 22-3-409, 22-3-411, 22-3-412, 22-3-414, 22-3-415, 22-3-416, or 22-3-503.(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 as § 75A-5-410 by Chapter (number not assigned at time of publication), 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Repealed and reenacted by Chapter 495, 2019 General Session ,§ 26, eff. 7/1/2020.Enacted by Chapter 285, 2004 General Session.