C.R.S. § 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.