Section 22-3-308 - [Renumbered Effective 9/1/2024] Period(1)(a) A unitrust policy shall provide the period used under Sections 22-3-306 and 22-3-307.(b) Except as otherwise provided in Subsection 22-3-309(2)(c), the period may be:(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(2) Except as otherwise provided in Subsection 22-3-309(2), a unitrust policy may provide standards for: (a) using fewer preceding periods under Subsection 22-3-306(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 22-3-307(2)(e)(i) or (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 as § 75A-5-308 by Chapter (number not assigned at time of publication), 2024 General Session ,§ 144, eff. 9/1/2024.Amended by Chapter 348, 2020 General Session ,§ 12, eff. 7/1/2020.Added by Chapter 495, 2019 General Session ,§ 15, eff. 7/1/2020.