§ 22-7-110. Administration.

     In administering a total return unitrust, the trustee may, in the trustee's sole discretion, but subject to the provisions of the governing instrument, determine:

(1) the effective date of the conversion;

(2) the timing of distributions, including provisions for prorating a distribution for a short year in which a beneficiary's right to payments commences or ceases;

(3) whether distributions are to be made in cash, in kind, partly in cash, or partly in kind;

(4) if the trust is reconverted to an income trust, the effective date of the reconversion; and

(5) other administrative issues necessary or appropriate to carry out the purposes of this chapter.

Enacted by Chapter 244, 2013 General Session