58-9a-306. Same; unitrust rate. (a) Except as otherwise provided in K.S.A. 2021 Supp. 58-9a-309(b)(1), and amendments thereto, a unitrust rate may be:
(1) A fixed unitrust rate; or
(2) a unitrust rate that is determined for each period using:
(A) A market index or other published data; or
(B) a mathematical blend of market indices or other published data over a stated number of preceding periods.
(b) Except as otherwise provided in K.S.A. 2021 Supp. 58-9a-309(b)(1), and amendments thereto, a unitrust policy may provide:
(1) A limit on how high the unitrust rate determined under subsection (a)(2) may rise;
(2) a limit on how low the unitrust rate determined under subsection (a)(2) may fall;
(3) a limit on how much the unitrust rate determined under subsection (a)(2) may increase over the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods;
(4) a limit on how much the unitrust rate determined under subsection (a)(2) may decrease below the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods; or
(5) a mathematical blend of any of the unitrust rates determined under subsection (a)(2) and paragraphs (1) through (4).
History: L. 2021, ch. 63, ยง 13; July 1.
Structure Kansas Statutes
Chapter 58 - Personal And Real Property
Article 9a - Uniform Fiduciary Income And Principal Act
58-9a,201 Fiduciary duties; general principles.
58-9a,202 Judicial review of exercise of discretionary power; request for instruction.
58-9a,203 Fiduciary's power to adjust.
58-9a,301 Definitions related to unitrusts.
58-9a,302 Application; duties and remedies.
58-9a,303 Authority of fiduciary.
58-9a,304 Notice to fiduciaries.
58-9a,305 Unitrust policy; requirements.
58-9a,306 Same; unitrust rate.
58-9a,307 Same; applicable value.
58-9a,308 Same; period required; optional standards.
58-9a,309 Special tax benefits; other rules.
58-9a,401 Character of receipts from entity.
58-9a,402 Receipts from distribution from trust or estate.
58-9a,403 Accounting for business or other activity conducted by fiduciary.
58-9a,405 Receipts from rental property.
58-9a,406 Receipt from obligation to be paid in money.
58-9a,407 Receipts from insurance policy or contract.
58-9a,408 Insubstantial allocation not required.
58-9a,409 Receipts from deferred compensation, annuity or similar payment.
58-9a,410 Receipts produced by a liquidating asset.
58-9a,411 Receipts from interest in minerals, water and other natural resources.
58-9a,412 Receipts from sale of timber.
58-9a,413 Marital deduction property not productive of income.
58-9a,414 Receipts from derivative or option.
58-9a,415 Receipts from asset-backed security.
58-9a,416 Receipts from other financial instrument or arrangement.
58-9a,501 Disbursement from income.
58-9a,502 Disbursement from principal.
58-9a,503 Transfer from income to principal for depreciation.
58-9a,504 Reimbursement of income from principal.
58-9a,505 Reimbursement of principal from income.
58-9a,507 Adjustment between income and principal because of taxes.
58-9a,601 Determination and distribution of net income.
58-9a,602 Distribution to successor beneficiary.
58-9a,701 When right to income begins and ends.
58-9a,702 Apportionment of receipts and disbursements when decedent dies or income interest begins.
58-9a,703 Apportionment when income interest ends.
58-9a,801 Uniformity of application and construction.
58-9a,802 Relation to electronic signatures in global and national commerce act.