{"data":{"id":"us-sc/s.c.-code-ann.-62-7-919","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 62-7-919","heading":"Liquidating assets.","body":"(A) In this section, \"liquidating asset\" means an asset whose value diminishes or terminates 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 62-7-918, resources subject to Section 62-7-920, timber subject to Section 62-7-921, an activity subject to Section 62-7-923, an asset subject to Section 62-7-924, or any asset for which the trustee establishes a reserve for depreciation pursuant to Section 62-7-927.\n(B) A trustee shall allocate to income ten percent of the receipts from a liquidating asset and the balance to principal.","path":["Title 62 - SOUTH CAROLINA PROBATE CODE","ARTICLE 7 South Carolina Trust Code","Part 9 South Carolina Uniform Principal and Income Act"],"source_url":"https://www.scstatehouse.gov/code/t62c007.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T08:08:54Z","sha256":"debf0c332c927221c325f0aa29a3c6a71c55fddf89ac961a0eda539828366d5d","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-62-7-918","next":"us-sc/s.c.-code-ann.-62-7-920"},"notice":"GroundRules: Original legal text. Not legal advice."}