{"data":{"id":"us-ar/ark.-code-ann.-28-77-308","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 28-77-308","heading":"Period","body":"(a) A unitrust policy must provide the period used under §§ 28-77-306 and 28-77-307 . Except as otherwise provided in § 28-77-309(b)(3) , 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 § 28-77-309(b) , a unitrust policy may provide standards for: (1) using fewer preceding periods under § 28-77-306(a)(2)(B) or § 28-77-306(b)(3) or § 28-77-306(b)(4) 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 § 28-77-307(b)(5)(A) or § 28-77-307(b)(5)(B) , § 28-77-307(b)(6)(B) , or § 28-77-307(b)(7)(B) 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. Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.\n\n(a) A unitrust policy must provide the period used under §§ 28-77-306 and 28-77-307 . Except as otherwise provided in § 28-77-309(b)(3) , 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.\n\n(1) a calendar year;\n\n(2) a 12-month period other than a calendar year;\n\n(3) a calendar quarter;\n\n(4) a three-month period other than a calendar quarter; or\n\n(5) another period.\n\n(b) Except as otherwise provided in § 28-77-309(b) , a unitrust policy may provide standards for: (1) using fewer preceding periods under § 28-77-306(a)(2)(B) or § 28-77-306(b)(3) or § 28-77-306(b)(4) 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 § 28-77-307(b)(5)(A) or § 28-77-307(b)(5)(B) , § 28-77-307(b)(6)(B) , or § 28-77-307(b)(7)(B) 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.\n\n(1) using fewer preceding periods under § 28-77-306(a)(2)(B) or § 28-77-306(b)(3) or § 28-77-306(b)(4) 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;\n\n(A) the trust was not in existence in a preceding period; or\n\n(B) market indices or other published data are not available for a preceding period;\n\n(2) using fewer preceding periods under § 28-77-307(b)(5)(A) or § 28-77-307(b)(5)(B) , § 28-77-307(b)(6)(B) , or § 28-77-307(b)(7)(B) 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\n\n(A) the trust was not in existence in a preceding period; or\n\n(B) fair market values are not available for a preceding period; and\n\n(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.","path":["AR Code","Title 28","Chapter 77","Subchapter 3"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"b01b5dfd2f38dfbc80a574909ad9160e492571ab80f85a08968bc4751ae95bde","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-28-77-307","next":"us-ar/ark.-code-ann.-28-77-309"},"notice":"GroundRules: Original legal text. Not legal advice."}