{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.410","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.410","heading":"Liquidating asset","body":"LIQUIDATING ASSET\n\nA. In this section, \"liquidating asset\" means an asset whose\n\nvalue will diminish or terminate because the asset is expected to\n\nproduce receipts for a period of limited duration. The term\n\nincludes a leasehold, patent, copyright, royalty right, and right to\n\nreceive payments during a period of more than one (1) year under an\n\narrangement that does not provide for the payment of interest on the\n\nunpaid balance. The term does not include a payment subject to\n\nSection 18 of this act, resources subject to Section 20 of this act,\n\ntimber subject to Section 21 of this act, an activity subject to\n\nSection 23 of this act, an asset subject to Section 24 of this act,\n\nor any asset for which the trustee establishes a reserve for\n\ndepreciation under Section 27 of this act.\n\nB. A trustee shall allocate to income ten percent (10%) of the\n\nreceipts from a liquidating asset and the balance to principal.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"0cdd9f2416b6ebfb171a68eb106bb2743b8368363df05417c45aa4b07e957a10","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.41","next":"us-ok/okla.-stat.-tit.-60-60-175.411"},"notice":"GroundRules: Original legal text. Not legal advice."}