1. (a) As used in this section, "short year" refers to a part of a calendar year that:

   1. (1) begins when the interest of the current beneficiary or class of current beneficiaries begins; or
   2. (2) ends when the interest of the current beneficiary or class of beneficiaries ends.
2. (b) The trustee shall prorate the unitrust amount on a daily basis in a short year.

As added by P.L.3-2003, SEC.2.