Period.
Utah Code § 75A-5-308
in effect75A-5-308. Period.
(1)
(a) A unitrust policy shall provide the period used under Sections 75A-5-306 and 75A-5-307.
(b) Except as otherwise provided in Subsection 22-3-309(2)(c), the period may be:
(i) a calendar year;
(ii) a 12-month period other than a calendar year;
(iii) a calendar quarter;
(iv) a three-month period other than a calendar quarter; or
(v) another period.
(2) Except as otherwise provided in Subsection 75A-5-309(2), a unitrust policy may provide standards for:
(a) using fewer preceding periods under Subsection 75A-5-306(1)(b)(ii), (2)(c), or (2)(d) if:
(i) the trust was not in existence in a preceding period; or
(ii) market indices or other published data are not available for a preceding period;
(b) using fewer preceding periods under Subsection 75A-5-307(2)(e)(i), (e)(ii), (f)(ii), or (g)(ii) if:
(i) the trust was not in existence in a preceding period; or
(ii) fair market values are not available for a preceding period; and
(c) prorating the unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.
Renumbered and Amended by Chapter 364, 2024 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title75A/Chapter5/75A-5-S308.html?v=C75A-5-S308_2024090120240501Fetched: 10/26/2026