Colorado § 15-1.2-410 - Liquidating asset - definition.
Full text of Colorado Colorado Revised Statutes § 15-1.2-410 — Liquidating asset - definition., with citation guidance and answers to common questions.
§ 15-1.2-410. Liquidating asset - definition.
(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 section 15-1.2-401, 15-1.2-409, 15-1.2-411, 15-1.2-412, 15-1.2-414, 15-1.2-415, 15-1.2-416, or 15-1.2-503.
(3) A fiduciary shall allocate:
(a) To income:
(I) A receipt produced by a liquidating asset, to the extent the receipt does not exceed four percent of the value of the asset; or
(II) If the fiduciary cannot determine the value of the asset, ten percent of the receipt; and
(b) To principal, the balance of the receipt.
Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 827, § 1, effective January 1, 2022.
Frequently Asked Questions About Colorado § 15-1.2-410
What does Colorado Revised Statutes § 15-1.2-410 cover?
Section 15-1.2-410 ("Liquidating asset - definition.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-1.2-410?
A common citation format is "Colorado Revised Statutes § 15-1.2-410" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-1.2-410 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.