{"data":{"id":"us-ct/conn.-gen.-stat.-45a-542r","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 45a-542r","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 section 45a-542q, resources subject to section 45a-542s, timber subject to section 45a-542t, an activity subject to section 45a-542v, an asset subject to section 45a-542w, or any asset for which the trustee establishes a reserve for depreciation under section 45a-542z.\n(b) A trustee shall allocate to income ten per cent of the receipts from a liquidating asset and the balance to principal.","path":["TITLE 45a. PROBATE COURTS AND PROCEDURE","CHAPTER 802c*. TRUSTS","PART VIII. CONNECTICUT UNIFORM PRINCIPAL AND INCOME ACT"],"source_url":"https://www.cga.ct.gov/current/pub/chap_802c.htm#sec_45a-542r","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:15Z","sha256":"cf79120e41990d1d93b36751b72f3bce9a973848f4e3a731e941282e062eb507","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-45a-542q","next":"us-ct/conn.-gen.-stat.-45a-542s"},"notice":"GroundRules: Original legal text. Not legal advice."}