{"data":{"id":"us-co/c.r.s.-15-1.2-301","jurisdiction":"us-co","citation":"C.R.S. § 15-1.2-301","heading":"Definitions.","body":"In this part 3:\n\n(1) \"Applicable value\" means the amount of the net fair market value of a trust taken into account under section 15-1.2-307.\n\n(2) \"Express unitrust\" means a trust for which, under the terms of the trust without regard to this part 3, income or net income must or may be calculated as a unitrust amount.\n\n(3) \"Income trust\" means a trust that is not a unitrust.\n\n(4) \"Net fair market value of a trust\" means the fair market value of the assets of the trust, less the noncontingent liabilities of the trust.\n\n(5) \"Unitrust\" means a trust for which net income is a unitrust amount. The term includes an express unitrust.\n\n(6) \"Unitrust amount\" means an amount computed by multiplying a determined value of a trust by a determined percentage. For a unitrust administered under a unitrust policy, the term means the applicable value, multiplied by the unitrust rate.\n\n(7) \"Unitrust policy\" means a policy described in sections 15-1.2-305 through 15-1.2-309 and adopted under section 15-1.2-303.\n\n(8) \"Unitrust rate\" means the rate used to compute the unitrust amount under subsection (6) of this section for a unitrust administered under a unitrust policy.","path":["Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES","Article 1.2 - Uniform Fiduciary Income and Principal Act","Part 3 - UNITRUST"],"source_url":"https://olls.info/crs/crs2026-title-15.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"a3b60ce488df032cb3030c59bce38b91249875a04cdc8561fadf75fc2834045d","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-15-1.2-204","next":"us-co/c.r.s.-15-1.2-302"},"notice":"GroundRules: Original legal text. Not legal advice."}