(a) A trustee shall allocate 10 percent of the receipts from a liquidating asset to income and the balance to principal.
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Terms Used In Alaska Statutes 13.38.700

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Trustee: A person or institution holding and administering property in trust.
(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 Alaska Stat. § 13.38.670;
(B) a payment subject to Alaska Stat. § 13.38.690;
(C) resources subject to Alaska Stat. § 13.38.710;
(D) timber subject to Alaska Stat. § 13.38.720;
(E) an activity subject to Alaska Stat. § 13.38.740;
(F) an asset subject to Alaska Stat. § 13.38.750; or
(G) an asset for which the trustee establishes a reserve for depreciation under Alaska Stat. § 13.38.830.
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