1999 Minnesota Statutes

     501B.69 Other property subject to depletion. 

    Except as provided in sections 501B.67 and 501B.68, if part 
 of the principal consists of property subject to depletion, 
 including leaseholds, patents, copyrights, royalty rights, and 
 rights to receive payments on a contract for deferred 
 compensation, the receipts from the property must be allocated 
 in accordance with what is reasonable and equitable in view of 
 the interests of those entitled to income as well as of those 
 entitled to principal.  The amount allocated to principal is 
 presumed to be reasonable and equitable if it is neither 
 substantially more nor less than the amount allowable as a 
 deduction for depletion, amortization, depreciation, or similar 
 costs under the Internal Revenue Code of 1986.  

    HIST: 1989 c 340 art 1 s 58; 1990 c 581 s 7