RCW 11.104B.290
122 words·~1 min read·
/wa/title-11/chapter-11-104b/11-104b-290·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 limited time. 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.
(2)This section does not apply to a receipt subject to RCW 11.104B.200 , 11.104B.280 , 11.104B.300 , 11.104B.310 , 11.104B.330 , 11.104B.340 , 11.104B.350 , or 11.104B.420 .
(3)A fiduciary shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.
[ 2021 c 140 s 2410 .]