Utah Code § 75A-5-301: Definitions for part.

As used in this part:

(1) "Applicable value" means the amount of the net fair market value of a trust taken into account under Section 75A-5-307.

(2) "Express unitrust" means a trust for which, under the terms of the trust without regard to this part, income or net income is permitted or required to be calculated as a unitrust amount.

(3) "Income trust" means a trust that is not a unitrust.

(4) "Net fair market value of a trust" means the fair market value of the assets of the trust minus the noncontingent liabilities of the trust.

(5)

(a) "Unitrust" means a trust for which net income is a unitrust amount.

(b) "Unitrust" includes an express unitrust.

(6) "Unitrust amount" means:

(a) an amount computed by multiplying a determined value of a trust by a determined percentage; and

(b) for a unitrust administered under a unitrust policy, the applicable value multiplied by the unitrust rate.

(7) "Unitrust policy" means a policy described in Sections 75A-5-305 through 75A-5-309 and adopted under Section 75A-5-303.

(8) "Unitrust rate" means the rate used to compute the unitrust amount under Subsection (6) for a unitrust administered under a unitrust policy.