Section 22-3-305 - [Renumbered Effective 9/1/2024] Unitrust policy(1) In administering a unitrust under this part, a fiduciary shall follow a unitrust policy: (a) adopted under Subsection 22-3-303(1)(a) or (b); or(b) amended or replaced under Subsection 22-3-303(1)(b).(2) A unitrust policy shall provide: (a) the unitrust rate or the method for determining the unitrust rate under Section 22-3-306;(b) the method for determining the applicable value under Section 22-3-307; and(c) the rules described in Sections 22-3-306 through 22-3-309 that apply in the administration of the unitrust, regardless of whether the rules are: (i) mandatory, as provided in Subsections 22-3-307(1) and 22-3-308(1); or(ii) optional, as provided in Section 22-3-306 and Subsections 22-3-307(2), 22-3-308(2), and 22-3-309(1), to the extent the fiduciary elects to adopt those rules.Renumbered as § 75A-5-305 by Chapter (number not assigned at time of publication), 2024 General Session ,§ 141, eff. 9/1/2024.Amended by Chapter 348, 2020 General Session ,§ 10, eff. 7/1/2020.Added by Chapter 495, 2019 General Session ,§ 12, eff. 7/1/2020.