Okla. Stat. tit. 60, § 60-175.410
This is the official text of Okla. Stat. tit. 60, § 60-175.410, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Liquidating asset
Official statutory text
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 18 of this act, resources subject to Section 20 of this act,
timber subject to Section 21 of this act, an activity subject to
Section 23 of this act, an asset subject to Section 24 of this act,
or any asset for which the trustee establishes a reserve for
depreciation under Section 27 of this act.
B. A trustee shall allocate to income ten percent (10%) of the
receipts from a liquidating asset and the balance to principal.
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 18 of this act, resources subject to Section 20 of this act,
timber subject to Section 21 of this act, an activity subject to
Section 23 of this act, an asset subject to Section 24 of this act,
or any asset for which the trustee establishes a reserve for
depreciation under Section 27 of this act.
B. A trustee shall allocate to income ten percent (10%) of the
receipts from a liquidating asset and the balance to principal.
Status: in_force · Read it on the official government site
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