ARTICLE 3. Unitrust [16330. - 16338.]

Article 3 added by Stats. 2023, Ch. 28, Sec. 2.

§§ 16330–16338 · 9 sections

• § 16330 The following definitions apply for purposes of this article: (a) “Applicable value” means the amount of the net fair market value of a trust taken into…
• § 16331 (a) Except as otherwise provided in subdivision (b), this article applies to both of the following: (1) An income trust, unless the terms of the trust…
• § 16332 (a) A fiduciary, without court approval, by complying with subdivisions (b) and (f), may do any of the following: (1) Convert an income trust to a unitrust if…
• § 16333 A notice required by paragraph (2) of subdivision (b) of Section 16332 shall be sent as required by Chapter 5 (commencing with Section 16500), including notice…
• § 16334 (a) In administering a unitrust under this article, a fiduciary shall follow a unitrust plan adopted under paragraph (1) or (2) of subdivision (a) of Section…
• § 16335 (a) A unitrust rate may not be less than 3 percent, or greater than 5 percent, unless the unitrust plan has been approved by court order. If the unitrust plan…
• § 16336 (a) A unitrust plan shall provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including…
• § 16337 (a) A unitrust plan shall provide the period used under Sections 16335 and 16336. Except as otherwise provided in paragraph (3) of subdivision (b) of Section…
• § 16338 (a) A unitrust plan may include any of the following: (1) Provide methods and standards for all of the following: (A) Determining the timing of distributions.…