Colorado § 15-1.2-305 - Unitrust policy.
Full text of Colorado Colorado Revised Statutes § 15-1.2-305 — Unitrust policy., with citation guidance and answers to common questions.
§ 15-1.2-305. Unitrust policy.
(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.
Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 815, § 1, effective January 1, 2022.
Frequently Asked Questions About Colorado § 15-1.2-305
What does Colorado Revised Statutes § 15-1.2-305 cover?
Section 15-1.2-305 ("Unitrust policy.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-1.2-305?
A common citation format is "Colorado Revised Statutes § 15-1.2-305" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-1.2-305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.