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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 38. Principal and Income of Trusts
- Section 700. Liquidating Asset.
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. Minerals, Water, and Other Natural Resources.
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
- (G) an asset for which the trustee establishes a reserve for depreciation under AS 13.38.830
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