{"data":{"id":"us-sd/sdcl-55-13a-410","jurisdiction":"us-sd","citation":"SDCL § 55-13A-410","heading":"Liquidating asset.","body":"(a) In this section, the term, 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 § 55-13A-409, resources subject to § 55-13A-411, timber subject to § 55-13A-412, an activity subject to § 55-13A-414, an asset subject to § 55-13A-415, or any asset for which the trustee establishes a reserve for depreciation under § 55-13A-503.\n(b) A trustee shall allocate to income ten percent of the receipts from a liquidating asset and the balance to principal.","path":["TITLE 55. FIDUCIARIES AND TRUSTS","CHAPTER 55-13A. UNIFORM PRINCIPAL AND INCOME ACT"],"source_url":"https://sdlegislature.gov/Statutes/55-13A-410","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"880a5e363baed232dfe2194f097422a96267d4de69661abf3e446a0e1160e602","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-55-13a-409","next":"us-sd/sdcl-55-13a-411"},"notice":"GroundRules: Original legal text. Not legal advice."}