Sec. 22. (a) As used in this section, "short year" refers to a part of a calendar year that:
(1) begins when the interest of the current beneficiary or class of current beneficiaries begins; or
(2) ends when the interest of the current beneficiary or class of beneficiaries ends.
(b) The trustee shall prorate the unitrust amount on a daily basis in a short year.
As added by P.L.3-2003, SEC.2.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 15. Total Return Unitrusts
30-2-15-1. "Current Valuation Year"
30-2-15-3. "Net Fair Market Value"
30-2-15-4. "Total Return Unitrust"
30-2-15-9. Trustee's Power to Convert Trust, Reconvert Trust, and Change Unitrust Rate
30-2-15-10. Acting Without Court Approval
30-2-15-11. Petition by Trustee
30-2-15-12. Petition by Trust Beneficiary
30-2-15-13. When Court Shall Approve Conversion, Reconversion, or Change in Rate
30-2-15-14. Reconversion's Release of Power to Adjust Void
30-2-15-15. Conversion to Unitrust; Unitrust Rate
30-2-15-15.2. Unitrust Rate for a Cemetery Perpetual Care Fund
30-2-15-16. Unitrust Amount; Initial Two Years of Trust
30-2-15-17. Unitrust Amount; Successive Years
30-2-15-18. Net Fair Market Value of Unitrust Assets
30-2-15-20. Prohibited Reduction in Unitrust Amount
30-2-15-21. Adjusting Net Fair Market Values of Assets
30-2-15-22. Prorating Unitrust Amount in Short Year
30-2-15-23. Unitrust Amount's Satisfying Tax Law Requirement of Preserving Tax Benefit
30-2-15-24. Construing the Governing Instrument