1. (a) As used 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 (1) year under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include the following:

   1. (1) A payment subject to section 31 of this chapter.
   2. (2) Resources subject to section 33 of this chapter.
   3. (3) Timber subject to section 34 of this chapter.
   4. (4) An activity subject to section 36 of this chapter.
   5. (5) An asset subject to section 37 of this chapter.
   6. (6) Any asset for which the trustee establishes a reserve for depreciation under section 40 of this chapter.
2. (b) A trustee shall allocate to income ten percent (10%) of the receipts from a liquidating asset and the balance to principal.

As added by P.L.84-2002, SEC.2.