§ 15-1.2-305 — Unitrust policy

Colorado § 15-1.2-305

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Uniform Fiduciary Income and Principal Act

Text

(1) In administering a unitrust under this part 3,
a fiduciary shall follow a unitrust policy adopted under section 15-1.2-303 (1)(a) or
(1)(b) or amended or replaced under section 15-1.2-303 (1)(b).

(2) A unitrust policy must provide:

(a) The unitrust rate or the method for determining the unitrust rate under
section 15-1.2-306;

(b) The method for determining the applicable value under section 15-1.2-306; and

(c) The rules described in sections 15-1.2-306 through 15-1.2-309 which
apply in the administration of the unitrust, whether the rules are:

(I) Mandatory, as provided in sections 15-1.2-307 (1) and 15-1.2-416; or

(II) Optional, as provided in sections 15-1.2-306, 15-1.2-307 (2), 15-1.2-308 (2),
and 15-1.2-309 (1), to the extent the fiduciary elects to adopt those rules.

Legislative History

Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 815, � 1, effective January 1, 2022.