Georgia § 53-12-426 Liquidating asset

Georgia Statutes

§ 53-12-426 — Liquidating asset

Georgia § 53-12-426

Title53

This text of Georgia § 53-12-426 (Liquidating asset) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 53-12-426 (2026).

Text

(a)As used in this Code section, the term "liquidating asset" means an asset whose value will diminish or terminate because such asset is expected to produce receipts for a period of limited duration. Such 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. Such term shall not include a payment subject to Code Section 53-12-425 , resources subject to Code Section 53-12-427 , timber subject to Code Section 53-12-428 , an activity subject to Code Section 53-12-430 , an asset subject to Code Section 53-12-431 , or any asset for which the trustee establishes a reserve for depreciation under Code Section 53-12-452 .

(b)A tru

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(a) As used in this Code section, the term "liquidating asset" means an asset whose value will diminish or terminate because such asset is expected to produce receipts for a period of limited duration. Such 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. Such term shall not include a payment subject to Code Section 53-12-425 , resources subject to Code Section 53-12-427 , timber subject to Code Section 53-12-428 , an activity subject to Code Section 53-12-430 , an asset subject to Code Section 53-12-431 , or any asset for which the trustee establishes a reserve for depreciation under Code Section 53-12-452 . (b) A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.