{"data":{"id":"us-ut/utah-code-75a-5-301","jurisdiction":"us-ut","citation":"Utah Code § 75A-5-301","heading":"Definitions for part.","body":"As used in this part:\n(1) \"Applicable value\" means the amount of the net fair market value of a trust taken into account under Section 75A-5-307.\n(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.\n(3) \"Income trust\" means a trust that is not a unitrust.\n(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.\n(5)\n(a) \"Unitrust\" means a trust for which net income is a unitrust amount.\n(b) \"Unitrust\" includes an express unitrust.\n(6) \"Unitrust amount\" means:\n(a) an amount computed by multiplying a determined value of a trust by a determined percentage; and\n(b) for a unitrust administered under a unitrust policy, the applicable value multiplied by the unitrust rate.\n(7) \"Unitrust policy\" means a policy described in Sections 75A-5-305 through 75A-5-309 and adopted under Section 75A-5-303.\n(8) \"Unitrust rate\" means the rate used to compute the unitrust amount under Subsection (6) for a unitrust administered under a unitrust policy.","path":["Title 75A Fiduciaries","Chapter 75A-5 Uniform Fiduciary Income and Principal Act","Part 75A-5-3 Unitrust"],"source_url":"https://le.utah.gov/xcode/Title75A/Chapter5/75A-5-S301.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"c8fd4eadf276e7205c385c14c323f34126e38630ca446673969e4eb08f641c82","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-75a-5-203","next":"us-ut/utah-code-75a-5-302"},"notice":"GroundRules: Original legal text. Not legal advice."}