{"data":{"id":"us-ks/k.s.a.-58-9a-307","jurisdiction":"us-ks","citation":"K.S.A. 58-9a-307","heading":"Applicable value.","body":"(a) A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:\n(1) The frequency of valuing the asset, which need not require a valuation in every period; and\n(2) the date for valuing the asset in each period in which the asset is valued.\n(b) Except as otherwise provided in K.S.A. 58-9a-309(b)(2), and amendments thereto, a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:\n(1) Obtaining an appraisal of an asset for which fair market value is not readily available;\n(2) exclusion of specific assets or groups or types of assets;\n(3) other exceptions or modifications of the treatment of specific assets or groups or types of assets;\n(4) identification and treatment of cash or property held for distribution;\n(5) use of:\n(A) An average of fair market values over a stated number of preceding periods; or\n(B) another mathematical blend of fair market values over a stated number of preceding periods;\n(6) a limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:\n(A) The corresponding applicable value for the preceding period; or\n(B) a mathematical blend of applicable values over a stated number of preceding periods;\n(7) a limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:\n(A) The corresponding applicable value for the preceding period; or\n(B) a mathematical blend of applicable values over a stated number of preceding periods;\n(8) the treatment of accrued income and other features of an asset that affect value; and\n(9) determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under paragraphs (1) through (8).","path":["Chapter 58.—PERSONAL AND REAL PROPERTY","Article 9a.—UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT"],"source_url":"https://www.ksrevisor.gov/statutes/chapters/ch58/058_009a_0307.html","current_through":"2025 legislative session","vintage":"","retrieved_at":"2026-10-15T06:21:01Z","sha256":"f35b00a47b8e2b02a654f70b1bc6a1007676c9beed07c50bd1edb5962f61f103","source_id":"us-ks","stale":false,"prev":"us-ks/k.s.a.-58-9a-306","next":"us-ks/k.s.a.-58-9a-308"},"notice":"GroundRules: Original legal text. Not legal advice."}