Virginia § 64.2-1046 - Period
Full text of Virginia Code of Virginia § 64.2-1046 — Period, with citation guidance and answers to common questions.
§ 64.2-1046. Period
A. A unitrust policy must provide the period used under §§ 64.2-1044 and 64.2-1045. Except as otherwise provided in subdivision B 3 of § 64.2-1047, the period may be:
1. A calendar year;
2. A 12-month period other than a calendar year;
3. A calendar quarter;
4. A three-month period other than a calendar quarter; or
5. Another period.
B. Except as otherwise provided in subsection B of § 64.2-1047, a unitrust policy may provide standards for:
1. Using fewer preceding periods under subdivision A 2 b, B 3, or B 4 of § 64.2-1044 if:
a. The trust was not in existence in a preceding period; or
b. Market indices or other published data are not available for a preceding period;
2. Using fewer preceding periods under subdivision B 5 a, B 5 b, B 6 b, or B 7 b of § 64.2-1045 if:
a. The trust was not in existence in a preceding period; or
b. Fair market values are not available for a preceding period; and
3. 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.
2022, c. 354.
Frequently Asked Questions About Virginia § 64.2-1046
What does Code of Virginia § 64.2-1046 cover?
Section 64.2-1046 ("Period") is part of the Code of Virginia, the codified statutory law of Virginia. 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 Virginia § 64.2-1046?
A common citation format is "Code of Virginia § 64.2-1046" (Virginia). 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 Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 64.2-1046 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia 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 Virginia.