C.R.S. Section 15-1.2-301
Definitions

In this part 3:

(1)

“Applicable value” means the amount of the net fair market value of a trust taken into account under section 15-1.2-307.

(2)

“Express unitrust” means a trust for which, under the terms of the trust without regard to this part 3, income or net income must or may be calculated as a unitrust amount.

(3)

“Income trust” means a trust that is not a unitrust.

(4)

“Net fair market value of a trust” means the fair market value of the assets of the trust, less the noncontingent liabilities of the trust.

(5)

“Unitrust” means a trust for which net income is a unitrust amount. The term includes an express unitrust.

(6)

“Unitrust amount” means an amount computed by multiplying a determined value of a trust by a determined percentage. For a unitrust administered under a unitrust policy, the term means the applicable value, multiplied by the unitrust rate.

(7)

“Unitrust policy” means a policy described in sections 15-1.2-305 through 15-1.2-309 and adopted under section 15-1.2-303.

(8)

“Unitrust rate” means the rate used to compute the unitrust amount under subsection (6) of this section for a unitrust administered under a unitrust policy.

Source: Section 15-1.2-301 — Definitions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2024-title-15.­pdf (accessed May 26, 2025).

15–1.2–101
Short title 15–1.2–102
Definitions 15–1.2–103
Scope 15–1.2–104
Governing law 15–1.2–201
Fiduciary duties - general principles 15–1.2–202
Judicial review of exercise of discretionary power - definition 15–1.2–203
Fiduciary’s power to adjust 15–1.2–204
Notice of action - definitions 15–1.2–301
Definitions 15–1.2–302
Application - duties and remedies 15–1.2–303
Authority of fiduciary 15–1.2–304
Notice 15–1.2–305
Unitrust policy 15–1.2–306
Unitrust rate 15–1.2–307
Applicable value 15–1.2–308
Period 15–1.2–309
Special tax benefits - rules 15–1.2–401
Character of receipts from entity - definitions 15–1.2–402
Distribution from trust or estate 15–1.2–403
Business of other activity conducted by fiduciary 15–1.2–404
Principal receipts 15–1.2–405
Rental property 15–1.2–406
Receipt on obligation to be paid in money 15–1.2–407
Insurance policy or contract 15–1.2–408
Insubstantial allocation not required 15–1.2–409
Deferred compensation, annuity, or similar payment - definitions 15–1.2–410
Liquidating asset - definition 15–1.2–411
Minerals, water, and other natural resources 15–1.2–412
Timber 15–1.2–413
Marital deduction property not productive of income 15–1.2–414
Derivative or option - definition 15–1.2–415
Asset-backed security 15–1.2–416
Other financial instrument or arrangement 15–1.2–501
Disbursement from income 15–1.2–502
Disbursement from principal 15–1.2–503
Transfer from income to principal for depreciation - definition 15–1.2–504
Reimbursement of income from principal 15–1.2–505
Reimbursement of principal from income 15–1.2–506
Income taxes 15–1.2–507
Adjustment between income and principal because of taxes 15–1.2–601
Determination and distribution of net income 15–1.2–602
Distribution to successor beneficiary 15–1.2–701
When right to income begins and ends 15–1.2–702
Apportionment of receipts and disbursements when decedent dies or income interest begins 15–1.2–703
Apportionment when income interest ends - definition 15–1.2–801
Uniformity of application and construction 15–1.2–802
Relation to electronic signatures in global and national commerce act 15–1.2–803
Application to trust or estate 15–1.2–804
Severability

Current through Fall 2025

§ 15-1.2-301. Definitions's source at colorado​.gov