1. (1) Except as otherwise provided in section 15-1.2-309 (2)(a), a unitrust rate may be:

   1. (a) A fixed unitrust rate; or

   2. (b) A unitrust rate that is determined for each period using:

      1. (I) A market index or other published data; or
      2. (II) A mathematical blend of market indices or other published data over a stated number of preceding periods.

2. (2) Except as otherwise provided in section 15-1.2-309 (2)(a), a unitrust policy may provide:

   1. (a) A limit on how high the unitrust rate determined under subsection (1)(b) of this section may rise;
   2. (b) A limit on how low the unitrust rate determined under subsection (1)(b) of this section may fall;
   3. (c) A limit on how much the unitrust rate determined under subsection (1)(b) of this section 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. (d) A limit on how much the unitrust rate determined under subsection (1)(b) of this section 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. (e) A mathematical blend of any of the unitrust rates determined under subsection (1)(b) of this section and subsections (2)(a) through (2)(d) of this section.

Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 815, § 1, effective January 1, 2022.