Tennessee § 35-6-410 Liquidating asset

Tennessee Statutes

§ 35-6-410 — Liquidating asset

Tennessee § 35-6-410

Title35

This text of Tennessee § 35-6-410 (Liquidating asset) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 35-6-410 (2026).

Text

(a)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. Liquidating asset includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than one (1) year under an arrangement that does not provide for the payment of interest on the unpaid balance. Liquidating asset does not include a payment subject to § 35-6-409 , resources subject to § 35-6-411 , timber subject to § 35-6-412 , an activity subject to § 35-6-414 , an asset subject to § 35-6-415 , or any asset for which the trustee establishes a reserve for depreciation under § 35-6-503 .

(b)A trustee shall allocate to income ten percent (10%) of the receipts from a liqui

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(a) 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. Liquidating asset includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than one (1) year under an arrangement that does not provide for the payment of interest on the unpaid balance. Liquidating asset does not include a payment subject to § 35-6-409 , resources subject to § 35-6-411 , timber subject to § 35-6-412 , an activity subject to § 35-6-414 , an asset subject to § 35-6-415 , or any asset for which the trustee establishes a reserve for depreciation under § 35-6-503 . (b) A trustee shall allocate to income ten percent (10%) of the receipts from a liquidating asset and the balance to principal.