C.R.S.
Section 15-1.2-307
Applicable value
(1)
A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:(a)
The frequency of valuing the asset, which need not require a valuation in every period; and(b)
The date for valuing the asset in each period in which the asset is valued.(2)
Except as otherwise provided in section 15-1.2-309 (2)(b), a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:(a)
Obtaining an appraisal of an asset for which fair market value is not readily available;(b)
Exclusion of specific assets or groups or types of assets;(c)
Other exceptions or modifications of the treatment of specific assets or groups or types of assets;(d)
Identification and treatment of cash or property held for distribution;(e)
Use of:(I)
An average of fair market values over a stated number of preceding periods; or(II)
Another mathematical blend of fair market values over a stated number of preceding periods;(f)
A limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:(I)
The corresponding applicable value for the preceding period; or(II)
A mathematical blend of applicable values over a stated number of preceding periods;(g)
A limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:(I)
The corresponding applicable value for the preceding period; or(II)
A mathematical blend of applicable values over a stated number of preceding periods;(h)
The treatment of accrued income and other features of an asset which affect value; and(i)
Determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under subsections (2)(a) through (2)(h) of this section.
Source:
Section 15-1.2-307 — Applicable value, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-15.pdf
(accessed May 26, 2025).