You can also go to The Alaska Legal Resource Center or search the entire website.

Touch N' GoŽ, the DeskTop In-and-Out Board makes your office run smoother. Visit Touch N' Go's Website to see how.

Alaska Statutes.

Title 13. Estates, Guardianships, Transfers, Trusts.

Chapter 38. Principal and Income of Trusts

Section 700. Liquidating Asset.

AS 13.38.700. Liquidating Asset.

(a) A trustee shall allocate 10 percent of the receipts from a liquidating asset to income and the balance to principal.

(b) In this section, "liquidating asset"

(1) means

(A) an asset the value of which will diminish or terminate because the asset is expected to produce receipts for a period of limited duration; or

(B) 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;

(2) does not include

(A) an obligation subject to AS 13.38.670 ;

(B) a payment subject to AS 13.38.690 ;

(C) resources subject to AS 13.38.710 ;

(D) timber subject to AS 13.38.720 ;

(E) an activity subject to AS 13.38.740 ;

(F) an asset subject to AS 13.38.750 ; or

(G) an asset for which the trustee establishes a reserve for depreciation under AS 13.38.830 .

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.

Last modified 9/3/2005