{"data":{"id":"us-va/va.-code-64.2-1046","jurisdiction":"us-va","citation":"Va. Code § 64.2-1046","heading":"Period","body":"A. A unitrust policy must provide the period used under §§ 64.2-1044 and 64.2-1045. Except as otherwise provided in subdivision B 3 of § 64.2-1047, 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; or5. Another period.B. Except as otherwise provided in subsection B of § 64.2-1047, a unitrust policy may provide standards for:1. Using fewer preceding periods under subdivision A 2 b, B 3, or B 4 of § 64.2-1044 if:a. The trust was not in existence in a preceding period; orb. Market indices or other published data are not available for a preceding period;2. Using fewer preceding periods under subdivision B 5 a, B 5 b, B 6 b, or B 7 b of § 64.2-1045 if:a. The trust was not in existence in a preceding period; orb. Fair market values are not available for a preceding period; and3. 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.2022, c. 354.","path":["Title 64.2. Wills, Trusts, and Fiduciaries","Subtitle III. Trusts","Chapter 10.1. Uniform Fiduciary Income And Principal Act","Article 3. Unitrust"],"source_url":"https://law.lis.virginia.gov/vacode/64.2-1046/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:18:14Z","sha256":"750f02def690ec076a47560c46f2e705e5ff608d4b0eed56563c8a011023a9fd","source_id":"us-va","stale":true,"prev":"us-va/va.-code-64.2-1045","next":"us-va/va.-code-64.2-1047"},"notice":"GroundRules: Original legal text. Not legal advice."}