{"data":{"id":"us-ar/ark.-code-ann.-28-70-410","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 28-70-410","heading":"Liquidating asset.","body":"(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 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 § 28-70-409, resources subject to § 28-70-411, timber subject to § 28-70-412, an activity subject to § 28-70-414, an asset subject to § 28-70-415, or any asset for which the trustee establishes a reserve for depreciation under § 28-70-503.\n(b) A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.","path":["Title 28 Wills, Estates, and Fiduciary Relationships","Subtitle 5. Fiduciary Relationships","Chapter 70 Uniform Principal And Income Act","Subchapter 4 — Allocation of Receipts During Administration of Trust","Part 3 — Receipts Normally Apportioned"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.28.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or amended","retrieved_at":"2026-09-17T21:09:03Z","sha256":"784cc6dcf648dc7bda6d8dc98697d634a9def1715d93d80bce10c1d4f08bf2d3","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-28-70-409","next":"us-ar/ark.-code-ann.-28-70-411"},"notice":"GroundRules: Original legal text. Not legal advice."}