Utah § 75A-5-305 Unitrust policy.

Utah Statutes

§ 75A-5-305 — Unitrust policy.

Utah·Title 75A Fiduciaries·Ch. 75A-5 Uniform Fiduciary Income and Principal Act·Part 75A-5-3 Unitrust

(1)In administering a unitrust under this part, a fiduciary shall follow a unitrust policy:

(1)(a) adopted under Subsection 75A-5-303(1)(a) or (b); or

(1)(b) amended or replaced under Subsection 75A-5-303(1)(b).

(2)A unitrust policy shall provide:

(2)(a) the unitrust rate or the method for determining the unitrust rate under Section 75A-5-306;

(2)(b) the method for determining the applicable value under Section 75A-5-307; and

(2)(c) the rules described in Sections 75A-5-306 through 75A-5-309 that apply in the administration of the unitrust, regardless of whether the rules are:

(2)(c)(i) mandatory, as provided in Subsections 75A-5-307(1) and 75A-5-308(1); or

(2)(c)(ii) optional, as provided in Section 75A-5-306 and Subsections 75A-5-307(2), 75A-5-308(2), and 75A-5-309(1), to the extent th

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(1) In administering a unitrust under this part, a fiduciary shall follow a unitrust policy:
(1)(a) adopted under Subsection 75A-5-303(1)(a) or (b); or
(1)(b) amended or replaced under Subsection 75A-5-303(1)(b).
(2) A unitrust policy shall provide:
(2)(a) the unitrust rate or the method for determining the unitrust rate under Section 75A-5-306;
(2)(b) the method for determining the applicable value under Section 75A-5-307; and
(2)(c) the rules described in Sections 75A-5-306 through 75A-5-309 that apply in the administration of the unitrust, regardless of whether the rules are:
(2)(c)(i) mandatory, as provided in Subsections 75A-5-307(1) and 75A-5-308(1); or
(2)(c)(ii) optional, as provided in Section 75A-5-306 and Subsections 75A-5-307(2), 75A-5-308(2), and 75A-5-309(1), to the extent the fiduciary elects to adopt those rules.

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