{"data":{"id":"us-ut/utah-code-75a-5-307","jurisdiction":"us-ut","citation":"Utah Code § 75A-5-307","heading":"Applicable value.","body":"(1) A unitrust policy shall provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:\n(a) the frequency of valuing the asset, which need not require a valuation in every period; and\n(b) the date for valuing the asset in each period that the asset is valued.\n(2) Except as otherwise provided in Subsection 75A-5-309(2)(b), 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(a) obtaining an appraisal of an asset for which fair market value is not readily available;\n(b) exclusion of specific assets or groups or types of assets;\n(c) other exceptions or modifications of the treatment of specific assets or groups or types of assets;\n(d) identification and treatment of cash or property held for distribution;\n(e) use of:\n(i) an average of fair market values over a stated number of preceding periods; or\n(ii) another mathematical blend of fair market values over a stated number of preceding periods;\n(f) a limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:\n(i) the corresponding applicable value for the preceding period; or\n(ii) a mathematical blend of applicable values over a stated number of preceding time periods;\n(g) a limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:\n(i) the corresponding applicable value for the preceding period; or\n(ii) a mathematical blend of applicable values over a stated number of preceding periods;\n(h) the treatment of accrued income and other features of an asset that affect value; and\n(i) determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under Subsections (2)(a) through (h).","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-S307.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"efd2d90dee595d917b05559f6f377c2ce5582e235d1c4fddda6cd547465103f1","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-75a-5-306","next":"us-ut/utah-code-75a-5-308"},"notice":"GroundRules: Original legal text. Not legal advice."}