1. A. In administering a unitrust under this article, a fiduciary shall follow a unitrust policy adopted under subdivision A 1 or 2 of § 64.2-1041 or amended or replaced under subdivision A 2 of § 64.2-1041.

2. B. A unitrust policy shall provide:

   1. 1. The unitrust rate or the method for determining the unitrust rate under § 64.2-1044;
   2. 2. The method for determining the applicable value under § 64.2-1045; and

   3. 3. The rules described in §§ 64.2-1044 through 64.2-1047 that apply in the administration of the unitrust, whether the rules are:

      1. a. Mandatory, as provided in subsection A of § 64.2-1045 and subsection A of § 64.2-1046; or
      2. b. Optional, as provided in § 64.2-1044, subsection B of § 64.2-1045, subsection B of § 64.2-1046, and subsection A of § 64.2-1047, to the extent the fiduciary elects to adopt those rules.

2022, c. 354.