Colorado § 15-1.2-307 - Applicable value.
Full text of Colorado Colorado Revised Statutes § 15-1.2-307 — Applicable value., with citation guidance and answers to common questions.
§ 15-1.2-307. Applicable value.
(1) A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:
(a) The frequency of valuing the asset, which need not require a valuation in every period; and
(b) The date for valuing the asset in each period in which the asset is valued.
(2) Except as otherwise provided in section 15-1.2-309 (2)(b), a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:
(a) Obtaining an appraisal of an asset for which fair market value is not readily available;
(b) Exclusion of specific assets or groups or types of assets;
(c) Other exceptions or modifications of the treatment of specific assets or groups or types of assets;
(d) Identification and treatment of cash or property held for distribution;
(e) Use of:
(I) An average of fair market values over a stated number of preceding periods; or
(II) Another mathematical blend of fair market values over a stated number of preceding periods;
(f) A limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:
(I) The corresponding applicable value for the preceding period; or
(II) A mathematical blend of applicable values over a stated number of preceding periods;
(g) A limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:
(I) The corresponding applicable value for the preceding period; or
(II) A mathematical blend of applicable values over a stated number of preceding periods;
(h) The treatment of accrued income and other features of an asset which affect value; and
(i) Determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under subsections (2)(a) through (2)(h) of this section.
Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 816, § 1, effective January 1, 2022.
Frequently Asked Questions About Colorado § 15-1.2-307
What does Colorado Revised Statutes § 15-1.2-307 cover?
Section 15-1.2-307 ("Applicable value.") 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 § 15-1.2-307?
A common citation format is "Colorado Revised Statutes § 15-1.2-307" (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 § 15-1.2-307 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.