(1) In this section, ‘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 ORS § 129.355, resources subject to ORS § 129.365, timber subject to ORS § 129.370, an activity subject to ORS § 129.380, an asset subject to ORS § 129.385 or any asset for which the trustee establishes a reserve for depreciation under ORS § 129.410.

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(2) A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal. [2003 c.279 § 19]