Utah Code § 75A-5-305: Unitrust policy.

(1) In administering a unitrust under this part, a fiduciary shall follow a unitrust policy:

(a) adopted under Subsection 75A-5-303(1)(a) or (b); or

(b) amended or replaced under Subsection 75A-5-303(1)(b).

(2) A unitrust policy shall provide:

(a) the unitrust rate or the method for determining the unitrust rate under Section 75A-5-306;

(b) the method for determining the applicable value under Section 75A-5-307; and

(c) the rules described in Sections 75A-5-306 through 75A-5-309 that apply in the administration of the unitrust, regardless of whether the rules are:

(i) mandatory, as provided in Subsections 75A-5-307(1) and 75A-5-308(1); or

(ii) optional, as provided in Section 75A-5-306 and Subsections 75A-5-307(2), 75A-5-308(2), and 75A-5-309(1), to the extent the fiduciary elects to adopt those rules.