75A-5-308. Period.
(1) A unitrust policy shall provide the period used under Sectionsand. 75A-5-306 75A-5-307 Except as otherwise provided in Subsection, the period may be: 22-3-309(2)(c) a calendar year; a 12-month period other than a calendar year; a calendar quarter; a three-month period other than a calendar quarter; or another period.
(2) Except as otherwise provided in Subsection, a unitrust policy may provide standards for: 75A-5-309(2) using fewer preceding periods under Subsection,, orif: 75A-5-306(1)(b)(ii) (2)(c) (2)(d) the trust was not in existence in a preceding period; or market indices or other published data are not available for a preceding period; using fewer preceding periods under Subsection, (e)(ii),, orif: 75A-5-307(2)(e)(i) (f)(ii) (g)(ii) the trust was not in existence in a preceding period; or fair market values are not available for a preceding period; and 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.