1. (1) A unitrust policy must provide the period used under RCW 11.104B.150 and 11.104B.160. Except as otherwise provided in RCW 11.104B.180(2)(c), the period may be:

   1. (a) A calendar year;
   2. (b) A 12-month period other than a calendar year;
   3. (c) A calendar quarter;
   4. (d) A three-month period other than a calendar quarter; or
   5. (e) Another period.

2. (2) Except as otherwise provided in RCW 11.104B.180(2), a unitrust policy may provide standards for:

   1. (a) Using fewer preceding periods under RCW 11.104B.150 (1)(b)(ii) or (2)(c) or (d) if:

      1. (i) The trust was not in existence in a preceding period; or
      2. (ii) Market indices or other published data are not available for a preceding period;

   2. (b) Using fewer preceding periods under RCW 11.104B.160(2) (e)(i) or (ii), (f)(ii), or (g)(ii) if:

      1. (i) The trust was not in existence in a preceding period; or
      2. (ii) Fair market values are not available for a preceding period; and
   3. (c) Prorating the unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.

[ 2021 c 140 s 2308.]