{"data":{"id":"us-nd/n.d.-cent.-code-59-04.2-18","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 59-04.2-18","heading":"(410) Liquidating asset","body":"1.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 59-04.2-17, resources subject to section 59-04.2-19, timber subject to section 59-04.2-20, an activity subject to section 59-04.2-22, an asset subject to section 59-04.2-23, or any asset for which the trustee establishes a reserve for depreciation under section 59-04.2-26.\n2.A trustee shall allocate to income ten percent of the receipts from a liquidating asset and the balance to principal.","path":["Title 59 Trusts","Chapter 59-04.2 Uniform Principal And Income Act (1997)"],"source_url":"https://ndlegis.gov/cencode/t59c04-2.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"1e3296ec15eaaaab1f6b554113711da041094dff424dcfcd547f1ddeaa6f84c2","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-59-04.2-17","next":"us-nd/n.d.-cent.-code-59-04.2-19"},"notice":"GroundRules: Original legal text. Not legal advice."}