Oklahoma § 60-175.410
Full text of Oklahoma Oklahoma Statutes § 60-175.410, with citation guidance and answers to common questions.
§ 60-175.410.
Liquidating asset.
LIQUIDATING ASSET
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. 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 a payment subject to
Section 18 of this act, resources subject to Section 20 of this act,
timber subject to Section 21 of this act, an activity subject to
Section 23 of this act, an asset subject to Section 24 of this act,
or any asset for which the trustee establishes a reserve for
depreciation under Section 27 of this act.
B. A trustee shall allocate to income ten percent (10%) of the
receipts from a liquidating asset and the balance to principal.
Added by Laws 1998, c. 115, § 19, eff. Nov. 1, 1998.
Frequently Asked Questions About Oklahoma § 60-175.410
What does Oklahoma Statutes § 60-175.410 cover?
Section 60-175.410 is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. 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 Oklahoma § 60-175.410?
A common citation format is "Oklahoma Statutes § 60-175.410" (Oklahoma). 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 Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 60-175.410 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma 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 Oklahoma.