Arkansas § 28-77-305 Unitrust policy

Arkansas Statutes

§ 28-77-305 — Unitrust policy

(a)In administering a unitrust under this subchapter, a fiduciary shall follow a unitrust policy adopted under § 28-77-303(a)(1) or § 28-77-303(a)(2) or amended or replaced under § 28-77-303(a)(2) .

(b)A unitrust policy must provide:

(1)the unitrust rate or the method for determining the unitrust rate under § 28-77-306 ;

(2)the method for determining the applicable value under § 28-77-307 ; and (3) the rules described in §§ 28-77-306 through 28-77-309 which apply in the administration of the unitrust, whether the rules are:

(A)mandatory, as provided in § 28-77-307(a) and § 28-77-308(a) ; or (B) optional, as provided in § 28-77-306 , § 28-77-307(b) , § 28-77-308(b) , and § 28-77-309(a) , to the extent the fiduciary elects to adopt those rules.

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(a) In administering a unitrust under this subchapter, a fiduciary shall follow a unitrust policy adopted under § 28-77-303(a)(1) or § 28-77-303(a)(2) or amended or replaced under § 28-77-303(a)(2) . (b) A unitrust policy must provide: (1) the unitrust rate or the method for determining the unitrust rate under § 28-77-306 ; (2) the method for determining the applicable value under § 28-77-307 ; and (3) the rules described in §§ 28-77-306 through 28-77-309 which apply in the administration of the unitrust, whether the rules are: (A) mandatory, as provided in § 28-77-307(a) and § 28-77-308(a) ; or (B) optional, as provided in § 28-77-306 , § 28-77-307(b) , § 28-77-308(b) , and § 28-77-309(a) , to the extent the fiduciary elects to adopt those rules.

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