(1) In administering a unitrust under this part, a fiduciary shall follow a unitrust policy adopted under Subsection 22-3-303(1)(a) or (b) or amended or replaced under Subsection 22-3-303(1)(b).
(2) A unitrust policy must provide: (a) the unitrust rate or the method for determining the unitrust rate under Section 22-3-306; (b) the method for determining the applicable value under Section 22-3-307; and (c) the rules described in Sections 22-3-306 through 22-3-309 which apply in the administration of the unitrust, whether the rules are: (i) mandatory, as provided in Subsections 22-3-307(1) and 22-3-308(1); or (ii) optional, as provided in Section 22-3-306 and Subsections 22-3-307(2), 22-3-308(2), and 22-3-309(1), to the extent the fiduciary elects to adopt those rules.
(a) the unitrust rate or the method for determining the unitrust rate under Section 22-3-306;
(b) the method for determining the applicable value under Section 22-3-307; and
(c) the rules described in Sections 22-3-306 through 22-3-309 which apply in the administration of the unitrust, whether the rules are: (i) mandatory, as provided in Subsections 22-3-307(1) and 22-3-308(1); or (ii) optional, as provided in Section 22-3-306 and Subsections 22-3-307(2), 22-3-308(2), and 22-3-309(1), to the extent the fiduciary elects to adopt those rules.
(i) mandatory, as provided in Subsections 22-3-307(1) and 22-3-308(1); or
(ii) optional, as provided in Section 22-3-306 and Subsections 22-3-307(2), 22-3-308(2), and 22-3-309(1), to the extent the fiduciary elects to adopt those rules.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.