Arkansas § 28-77-307 Applicable value

Arkansas Statutes

§ 28-77-307 — Applicable value

Arkansas § 28-77-307

Title28

This text of Arkansas § 28-77-307 (Applicable value) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 28-77-307 (2026).

Text

(a)A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:

(1)the frequency of valuing the asset, which need not require a valuation in every period; and (2) the date for valuing the asset in each period in which the asset is valued.

(b)Except as otherwise provided in § 28-77-309(b)(2) , a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:

(1)obtaining an appraisal of an asset for which fair market value is not readily available;

(2)exclusion of specific assets or groups or types of assets;

(3)other exceptions or modifications of the treatment of specific assets or

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(a) A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including: (1) the frequency of valuing the asset, which need not require a valuation in every period; and (2) the date for valuing the asset in each period in which the asset is valued. (b) Except as otherwise provided in § 28-77-309(b)(2) , a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including: (1) obtaining an appraisal of an asset for which fair market value is not readily available; (2) exclusion of specific assets or groups or types of assets; (3) other exceptions or modifications of the treatment of specific assets or groups or types of assets; (4) identification and treatment of cash or property held for distribution; (5) use of: (A) an average of fair market values over a stated number of preceding periods; or (B) another mathematical blend of fair market values over a stated number of preceding periods; (6) a limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over: (A) the corresponding applicable value for the preceding period; or (B) a mathematical blend of applicable values over a stated number of preceding periods; (7) a limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below: (A) the corresponding applicable value for the preceding period; or (B) a mathematical blend of applicable values over a stated number of preceding periods; (8) the treatment of accrued income and other features of an asset which affect value; and (9) determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under paragraphs (1) through (8).