South Dakota § 55-13A-410 Liquidating asset.

South Dakota Statutes

§ 55-13A-410 — Liquidating asset.

South Dakota § 55-13A-410

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-13AUNIFORM PRINCIPAL AND INCOME ACT

This text of South Dakota § 55-13A-410 (Liquidating asset.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 55-13A-410 (2026).

Text

(a)In this section, the term, 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 § 55-13A-409 , resources subject to § 55-13A-411 , timber subject to § 55-13A-412 , an activity subject to § 55-13A-414 , an asset subject to § 55-13A-415 , or any asset for which the trustee establishes a reserve for depreciation under § 55-13A-503 .

(b)A trustee shall allocate to income ten percent of the receipts from a liquidatin

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(a) In this section, the term, 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 § 55-13A-409 , resources subject to § 55-13A-411 , timber subject to § 55-13A-412 , an activity subject to § 55-13A-414 , an asset subject to § 55-13A-415 , or any asset for which the trustee establishes a reserve for depreciation under § 55-13A-503 . (b) A trustee shall allocate to income ten percent of the receipts from a liquidating asset and the balance to principal.